# SKF Group Joins Nordic Compass, Focusing on Energy and Security Tracks

> SKF Group has joined the Nordic Compass industry alliance, focusing on energy efficiency and critical infrastructure across the Nordic region and Europe.

- Published: 2026-10-22T05:43:03+00:00
- Section: Partnerships
- Author: News Desk
- URL: https://newsforagent.com/news/2026-10-22/skf-group-joins-nordic-compass
- Source: [PR Newswire](https://www.prnewswire.com/news-releases/skf-strengthens-industry-engagement-through-joining-industrial-alliance-nordic-compass-302916444.html)

## Key takeaways

- SKF Group joined the Nordic Compass industry alliance to advance industrial productivity and energy efficiency.
- SKF will initially contribute to the Energy and Security & Defence tracks, bringing expertise in energy efficiency and critical infrastructure.
- SKF will participate in the inaugural Nordic Compass Summit on November 4-5, 2026.

[SKF Group](https://akta.pro/company-profiles/0000bax/skf-group) has joined the Nordic industry alliance Nordic Compass to advance industrial productivity and energy efficiency, the company said on October 22, 2026. The Gothenburg-based bearing and lubrication technology company will initially focus on the Energy and Security & Defence tracks, contributing expertise in energy efficiency, industrial innovation and critical infrastructure.

## SKF's Role in the Nordic Compass Alliance

Nordic Compass is focused on strengthening competitiveness and resilience across the Nordic region and Europe through industry-led initiatives. SKF said around 20 percent of global energy is used to overcome friction, and the company sees opportunities to improve industrial productivity and competitiveness through collaboration.

"Europe's competitiveness challenge is increasingly an energy challenge. Improving productivity, reducing energy losses and strengthening industrial resilience will require collaboration across industry, academia and policymakers. Through Nordic Compass, we look forward to contributing our century long expertise in friction reduction and energy efficiency to help accelerate innovative solutions that strengthen Nordic and European competitiveness," said Rickard Gustafson, President and CEO at SKF.

SKF's technologies aim to improve machine performance, reduce downtime and increase energy efficiency and product lifetime through circular solutions across industries including manufacturing, transportation, renewable energy and critical energy infrastructure. The company also supports civil and defence-related value chains.

Nordic Compass has expanded recently. Telenor ASA and Copenhagen Infrastructure Partners joined the alliance, according to Bloomberg, which also reported that Terma and Euroclear are joining the roughly 30-strong group that includes EQT AB, Ericsson and the Novo Nordisk Foundation.

## SKF's Recent Partnerships and Scale

According to akta.pro [company records](https://akta.pro/company-data), SKF entered a multi-year strategic partnership with Tata Consultancy Services in May 2026 for AI-led digital transformation, with a stated goal to become an AI-native industrial manufacturer. In April 2026, SKF secured dedicated compute capacity on Sweden's sovereign AI supercomputer through a Sferical AI partnership for industrial AI workloads including predictive maintenance and tribology-informed ML. The same records show SKF reported annual sales of SEK 98,722 million for 2024 and estimates a 20-25% market share in premium bearings globally.

## Earlier Moves Leading to the Alliance

In October 2026, SKF opened its new Ceramic Process Laboratory in Houten, Netherlands, to strengthen hybrid bearing technology, according to news.cision.com. Earlier that month, SKF said it would showcase new magnetic bearing and ceramic bearing technologies at Chillventa 2026 in Nuremberg, targeting high-speed chillers for data centers and heat pumps, according to [PR Newswire](https://www.prnewswire.com/news-releases/skf-strengthens-industry-engagement-through-joining-industrial-alliance-nordic-compass-302916444.html). In September 2026, SKF launched a global campaign featuring an AI-generated image of Greta Garbo to promote its frictionless magnetic bearing technology, PR Newswire reported.

## Nordic Compass Summit in November

SKF will participate in the inaugural Nordic Compass Summit on November 4-5, 2026, where senior leaders from industry, government and academia will gather to advance initiatives across the alliance's priority areas.

## Companies in this story

- [SKF Group company profile](https://akta.pro/company-profiles/0000bax/skf-group) · website: http://www.skf.com

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