Chairman – Mechanical Engineer MSc Olav Ellingsen (1941) has a background as inventor and technical expert in the oil industry. Olav Ellingsen has registered several patent rights and sold his former company THERMTECH A/S (www.thermtech.no) for cleansing oil-polluted drill cuttings. The technology won the first price on "Environmental Northern Seas Exhibition" in 1991, and in 1994 Ellingsen received the "NITO Technology Prize" for the process (NITO = Norwegian Engineers Organization).  Olav has participated in the Norwegian government's "Forum for Value Creation" under the leadership of the former prime minister Gro Harlem Brundtland, together with the ministers of oil, energy and finance.

Because Olav Ellingsen’ son became a diabetic in 1982, he has investigated the disease over years and in 1995 he invented an implantable glucose sensor which at present is under development by Lifecare AS, Bergen.

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