Novarc Technologies named on Americas’ Fastest Growing Companies 2023 list
April 11, 2023 by Manufacturing AUTOMATION
Novarc Technologies has been named to the fourth annual list of Americas’ Fastest Growing Companies 2023 put together by The Financial Times. The company was ranked 174 out of 500 companies. This is the second consecutive year that it is featured on the list.
“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.
Novarc explains in a press statement that the list recognizes those companies that grew fastest among the millions of existing North and South American organizations by examining their highest compound annual growth (CAGR) in revenues between 2018 and 2021.
“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.”