VANCOUVER, BC, Sept. 23, 2022 (GLOBE NEWSWIRE) — Novarc Technologies Inc. introduced at this time the corporate has been named considered one of Canada’s Top Growing Companies for the third consecutive yr as a part of the 2022 Globe & Mail’s Report on Business rating. The rating is predicated on the analysis of three-year verified income progress of 430 Canadian firms from 2019 – 2021; Novarc earned its spot of #132 primarily based on the corporate’s escalating three-year progress of 351 per cent.
“Novarc’s ranking on the esteemed list of Canada’s Top Growing Companies for the third year in a row is a very exciting accomplishment for our team. We have continued to see increasing global demand for our welding cobot – the Spool Welding Robot (SWR™) – as industries around the world recognize our invention as a game-changing welding automation technology,” says Soroush Karimzadeh, CEO of Novarc Technologies.
“Canada’s Top Growing Companies recognizes the tremendous ambition and innovation of entrepreneurs in Canada,” says Dawn Calleja, Editor of Report on Business magazine. “The next generation of Canadian businesses can draw inspiration from this ranking.”
Today, Novarc’s SWR is being utilized by among the high firms in industries required to assemble the world’s infrastructure. Automation of producing processes inside these industries is urgently wanted. Novarc’s resolution can be serving to the welding business resolve an ominous labour downside: the extreme world scarcity of extremely expert welders in fabrication retailers servicing these world industries. According to the American Welding Society, this looming labour disaster will escalate to a scarcity of about 314,000 welders by 2024.
Novarc’s SWR, the world’s first welding cobot, has offered an automation resolution to the welding business. The SWR works alongside a human operator, to extend productiveness, weld high quality and consistency, with the power to get well shoppers’ capital funding inside six to 18 months.
Novarc’s cobots are additionally enhanced by imaginative and prescient and synthetic intelligence which gives additional ergonomic and security advantages to human operators, and high quality/productiveness elements to fabrication amenities.
“In an uncertain world, the success stories of the companies marked in this year’s Report on Business magazine’s list of Top Growing Companies are a beacon of optimism,” says Phillip Crawley, Publisher and CEO of The Globe and Mail. “The Globe and Mail congratulates them on their achievements.”
Canada’s Top Growing Companies is an editorial rating that was launched in 2019. It goals to have a good time the boldest entrepreneurial achievement by figuring out and bringing the accomplishments of modern companies in Canada to the forefront.
The full record of 2022 winners is printed within the October difficulty of Report on Business journal.
- Canada’sTop Growing Companies by The Globe and Mail’s 2022 Report on Business
- Novarc’s Spool Welding Robot (SWR) is the World’s First Collaborative Welding Robot