VANCOUVER, CANADA, March 29, 2023 (GLOBE NEWSWIRE) -- Novarc Technologies Inc. (“Novarc”), a full-stack robotics company specializing in the design and commercialization of collaborative robots (“cobots”) and AI systems for robotic welding applications, today announced the company has been named to The Financial Times’ fourth annual ranking of the fastest growing companies in the Americas, for the second consecutive year.
Novarc placed #174 out of the 500 companies that made the list, recognizing those companies that grew fastest in The Americas by examining their highest compound annual growth (CAGR) in revenues between 2018 and 2021, a period which included the tumultuous economic events of the pandemic.
“We are extremely pleased to be named to this prestigious list for the second consecutive year. Novarc’s pipe welding automation system is providing a solution to the fabrication industry, facing ominous demands required by industries building and maintaining the world’s infrastructure. Our Spool Welding Robot is providing an automation solution to deliver projects faster, at a lower cost, and with better quality welds, enabling them to compete on bigger projects and improve delivery timelines, capacity and margins,” says Soroush Karimzadeh, CEO of Novarc Technologies.
The FT list of The America’s Fastest Growing Companies 2023 illustrates Novarc’s continued growth trajectory and global impact.
“Novarc is continuing to grow with expansion into international markets,” says Karimzadeh. “Our Spool Welding Robot is essentially the next stage in the ‘smartization of the collaborative welding robot’, offering an automated welding solution that brings together Artificial Intelligence, computer vision and robotics.”
Novarc was also recently named one of Canada’s Top Growing Companies for the third consecutive year as part of the 2022 Globe & Mail’s Report on Business ranking, and was included on the Deloitte Technology Fast 500™, a ranking of the 500 fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies in North America, released in November 2022.
About Novarc Technologies Inc:
Novarc 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 machines and 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.
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