KONE's new modernization solution will ease the lives of residents by offering the shortest elevator downtime

KONE, a global leader in the elevator and escalator industry, today revealed its newest innovation in elevator modernization technology, the KONE NanoSpace(TM). It is a machine-room-less elevator full-replacement solution, where an old elevator is replaced by a modern one with the industry's shortest downtime. The new KONE NanoSpace can replace an old elevator in as little as two weeks compared to the industry average of six, significantly improving the comfort of residents living in multi-floor buildings. This is enabled by the new innovative technology, optimized installability and streamlined planning process. In addition, KONE NanoSpace offers maximized space efficiency, best-in-class ride comfort and excellent eco-efficiency.

Elevator modernization is an important issue in today's cities where urban infrastructure is aging. For example in Europe and in the United States, more than half of the elevators in use are over 20 years old*. Modernizing an elevator enhances safety, accessibility and comfort. As populations age, smooth and convenient people flow becomes essential.

KONE NanoSpace provides up to 50% more space inside the elevator compared to older elevators, with no changes to the existing shaft. This is made possible by a highly compact design and the new KONE HybridHoisting(TM) system, which combines belt and rope technologies in a completely new way - the belt moves the elevator and the ropes suspend the car in the shaft. A bigger car, wide-opening automatic doors, smooth leveling, silent operation and visually appealing design matching the building's architecture all further improve the convenience of residents. KONE NanoSpace also significantly reduces energy consumption: the new solution is up to 70% more energy efficient compared to old elevators in use.

"As an innovative company, KONE is constantly looking for better modernization solutions for our customers and their tenants, improving both products and the processes. In KONE NanoSpace, the heart of the innovation is in the process perfection. We have designed every step of the new replacement process to make elevator modernization as smooth as possible," says Pekka Kemppainen, Executive Vice President for Service Business, KONE Corporation.

Modernization business accounts for 16% of KONE's global sales. Elevator modernization solutions range from small updates to full-replacement solutions.

"We see a lot of potential in the modernization business especially in Europe and North America, where the equipment base is rapidly getting older. Also Asia will be an important modernization market for us in the near future - at the moment, two thirds of the new elevator installations are conducted in Asia," continues Kemppainen.

KONE NanoSpace will be available in the European markets during 2014.