VANCOUVER, BC, April 12, 2022 (GLOBE NEWSWIRE) -- Novarc Technologies Inc. (“Novarc”), a full-stack robotics company specializing in the design and commercialization of cobots and AI systems for robotic welding applications, announced today the company has been recognized among 500 other companies on the third annual The Financial Times (FT) list of The Americas’ Fastest Growing Companies 2022. This prestigious award is presented by The Financial Times and Statista Inc., the world-leading statistics portal and industry ranking provider.
The Financial Times’ third annual ranking recognizes 500 companies that grew fastest among the millions of existing North and South American organizations by considering the highest compound annual growth (CAGR) in revenues between 2017 and 2020. Novarc placed #79 out of the 500 companies that accomplished the list, recognizing those companies that contributed the most to economic growth.
“We successfully disrupted the welding industry with the launch of the world’s first welding cobot, the Spool Welding Robot (SWR). The SWR not only revolutionized the fabrication sector, but it also paved the way for other cobots in the welding industry,” says Soroush Karimzadeh, CEO of Novarc Technologies. “We are continuing on this growth trajectory in 2022 which has been almost doubling our SWR annual sales in the past few years. We expect this will be further propelled by Novarc’s exciting, unique and even more disruptive product offerings such as our new AI-powered weld control system, NovEye™.”
Out of the millions of active companies in North and South America, only 500 firms were named to the list, and Novarc is pleased to be recognized as one of The Americas’ Fastest Growing Companies 2022. The complete list of winners can be found on FT.com.
The FT list of The America’s Fastest Growing Companies 2022 illustrates Novarc’s performance and growing global impact. Novarc was also recently recognized for the second consecutive year on the 2021 Report on Business List of Canada’s Top Growing Companies by the Globe & Mail, placing #57 out of 448 Canadian companies. Novarc has also been named to the Ready to Rocket Cleantech list for three consecutive years for its outstanding growth potential in the technology sector.
About Novarc Technologies Inc:
Novarc Technologies is a Vancouver-based full-stack robotics company specializing in the design and commercialization of cobots and AI systems for robotic welding applications. Novarc’s Spool Welding Robot (SWR) is the world’s first of its kind in pipe welding applications. As a proven pioneer in the field, Novarc has dedicated a team of engineers and scientists to solve challenging welding automation problems that improve customers’ bottom line. Visit novarctech.com.
