Novarc Technologies featured on top growing Canadian companies list
October 6, 2023
By Manufacturing AUTOMATION
Novarc Technologies was ranked at the 145th position on the 2023 Report on Business ranking of Canada’s Top Growing Companies.
“On behalf of our team at Novarc, we are very proud to once again achieve this prestigious ranking on the Globe & Mail’s list of Canada’s Top Growing Companies. Novarc’s pipe welding automation system provides a solution to the fabrication industry facing increased competition, demanding timelines and a shortage of skilled welders. Our Spool Welding Robot allows fabrication shops and manufacturers 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 company CEO Soroush Karimzadeh.
Canada’s Top Growing Companies ranks Canadian companies on three-year revenue growth. Novarc earned its spot with a three-year revenue growth of 330 percent.
The company explains in a press statement that Canada’s Top Growing Companies is an editorial ranking that was launched in 2019. It aims to bring the accomplishments of innovative businesses in Canada to the forefront. In order to qualify for this voluntary program; companies had to complete an in-depth application process and fulfill requirements. In total, 425 companies earned a spot on this year’s ranking.
Novarc’s automation solution is reportedly being recognized by fabrication shops and contract manufacturers serving the oil and gas, water and wastewater and other key industries vital to infrastructure, as a necessity. Novarc is currently developing an AI-powered robotic solution which will advance precision, efficiency and flexibility in traditional manufacturing.
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