Volvo Technology Transfer AB last week announced it is a new part owner in El-forest AB, based in Örnsköldsvik, Sweden, and it is investing in the development of energy efficient and environmentally sound forestry machinery. The investment is part of the Volvo Group’s goal to strengthen its role as a leading supplier to the forestry industry.

According to the company, the El-forest forwarder is the world’s first forestry machine that uses energy efficient electric-hybrid technology. The technology has attracted great interest and support as a result of its potential to cut fuel consumption by 50 percent and thereby also reduce emissions of carbon dioxide.

Volvo Technology Transfer’s investment in El-forest will accelerate the introduction of the forestry machine and will enable customers to benefit faster from the economical and environmental benefits that the El-forest forwarder promises. The first machine delivery will be to state-owned Sveaskog, Sweden’s largest forest owner, during 2008.

Volvo Technology Transfer AB is part of AB Volvo and focuses on developing and supporting new business relevant to the Volvo Group.

The Volvo Group is a publicly held company headquartered in Göteborg, Sweden.