Taking the next big step, EIT InnoEnergy supported Ferroamp goes public!
EIT InnoEnergy supported start-up Ferroamp carries out IPO and prepares to list on Nasdaq First North.
The path from innovative idea to market success is full of challenges, victories and learning experiences along the way. There are many essential industry facets to consider; therefore, the best chance a start-up has to grow (while avoiding common pitfalls) is a solid collaboration with trusted partners. EIT InnoEnergy Business Creation is proud to be this proven partner for many new start-ups entering the sustainable energy market today. With access to the individuals and organisations that drive the global energy sector, EIT InnoEnergy knows how to navigate and thrive in this competitive landscape – and is pleased to help new companies, such as Ferroamp, take the next big step towards commercialising their ideas. Ferroamp’s journey to IPO has been an exciting process, and EIT InnoEnergy has played a supportive role all along the way.
Tailor-made support for start-ups
As a long-term partner, EIT InnoEnergy’s vision for a start-up is clear – build success from the ground up with customised services and support. EIT InnoEnergy invests in every way possible to help the idea succeed, including financially, and they know that each start-up has different needs for growth and success. EIT InnoEnergy’s expertise comes in many forms: personalised coaching, connection to private and public investors, access to technical and legal know-how, as well as valuable industry contacts. Ferroamp joined the Highway® in 2013 to take full advantage of EIT InnoEnergy’s business acceleration services and grew significantly as a result. Ferroamp notably improved and protected their technology, created a winning team, carried out customer workshops, visited trade fairs, recruited experts to the board of directors, gained insights on market and regulatory changes, and raised significant funding.
Technology that makes a difference
Success starts with a great idea – in this case, a valuable innovation improving the utilisation of three-phase power supply. Ferroamp´s offering has since then been developed to an award-winning platform for power and energy optimisation, enabling customers to benefit from increased self-consumption, lower grid connection fees and reduced energy losses.
The EnergyHub system is a modular DC-nanogrid for future proof integration of PV, battery storage and EV-charging in buildings – while Ferroamp Powershare enables these structures to commonly share those resources. They have also developed the EnergyHub Cloud service that provides actionable energy efficiency insights to customers by monitoring and collecting data, which also allows Ferroamp to customise their services further. These are innovative products that are right on time for the energy market.
Important milestones along the way
Markus Berglund, Business Creation Manager, said: 'It is very rewarding to see that all the efforts and hard work by the Ferroamp team has taken the company to a stage where it is ready for an IPO. From a shareholder´s perspective, Ferroamp going public is, of course, an interesting event and EIT InnoEnergy looks forward to being part of the continued journey. Ferroamp is a shining example of what can be accomplished when you have a great idea, build a supportive team around you and take a long-term approach to develop solutions aligned with changing customer needs.'
This public offering also opens up an investment opportunity for individuals interested in furthering environmentally-friendly technologies, open to investors until 22 February.
For Ferroamp, this journey so far has been full of well-earned achievements, and they know this next big step of going public will bring even more. With three patent families under their belt, over 400 successful installations with proven results, and an increase in sales of 53% just last year – their goal to double turnover in 2019 will be very attainable. They will also adapt their products for large volume manufacturing and continue to expand sales from their current strong Swedish market to other Nordic countries, the Netherlands, France, Italy and Finland. Ferroamp CEO Olof Heyman shares, 'The long-term support from EIT InnoEnergy, both as a partner and a shareholder, has been of great importance for Ferroamp.'
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