FOM Technologies: FOM Technologies raises guidance by 22 per cent after record order from Swedish battery gigafactory.
13.7.2023 12.44 • MarketWire •
13.7.2023 12:44:02 CEST ' FOM Technologies ' Company Announcement
Company announcement no. 58 - 2023 ' Copenhagen, the 13th of July 2023
THIS COMPANY ANNOUNCEMENT CONTAINS INSIDER INFORMATION
A historically large order of a double-digit million amount from the Scandinavian battery group NOVO Energy means that FOM Technologies is today raising revenue guidance for the financial year 2023 by approx. 22 per cent. The order represents a milestone for FOM Technologies, which will now deliver advanced slot die coating equipment to one of Europe's largest battery factories near Gothenburg and thus support critical research and development of future battery technology together with an international front-runner within the global green energy transition.
"Ever since our birth as a spin-out from DTU and later our IPO, we have increased the relevance of our technology in the most trend-setting green industries. We have continuously succeeded in delivering on the promises that we have set the market and our investors in view. Now we'll help NOVO Energy develop efficient energy storage; a critical research area where both the level of competition, the demand and the gain in terms of sustainable impact are at the highest level," says CEO Michael Stadi.
The increasing global demand for research equipment for the solar energy and battery industry is driving the international growth of Danish FOM Technologies, and interest in the unique slot-die technology in the form of the company's R/D equipment is spreading from research institutions into many commercial enterprises.
FOM Technologies enters the super league of the green energy transition.
The goal for customers, regardless of industry, is to utilize FOM Technologies' unique technology to more quickly develop high-tech solutions in response to a number of global challenges, where researchers work to find long-lasting solutions.
"We are time and again expanding the application possibilities for our technology in new industries, and our equipment significantly accelerates research and development at a number of commercial and governmental actors in the green transition. Our customer list includes Fortune 500 companies, world leading universities and the US Department of Energy, and a few weeks ago we sold another machine to a global MedTech company. With this historically large single order, we are now entering the super league of the green transition. The recognition of this breadth and relevance of our technology makes us all proud and humble, and I would like to thank the entire team for their enthusiasm and support in the process leading up to the signing of this milestone for our company," says Michael Stadi.
13.7.2023 12.44 • MarketWire •
13.7.2023 12:44:02 CEST ' FOM Technologies ' Company Announcement
Company announcement no. 58 - 2023 ' Copenhagen, the 13th of July 2023
THIS COMPANY ANNOUNCEMENT CONTAINS INSIDER INFORMATION
A historically large order of a double-digit million amount from the Scandinavian battery group NOVO Energy means that FOM Technologies is today raising revenue guidance for the financial year 2023 by approx. 22 per cent. The order represents a milestone for FOM Technologies, which will now deliver advanced slot die coating equipment to one of Europe's largest battery factories near Gothenburg and thus support critical research and development of future battery technology together with an international front-runner within the global green energy transition.
"Ever since our birth as a spin-out from DTU and later our IPO, we have increased the relevance of our technology in the most trend-setting green industries. We have continuously succeeded in delivering on the promises that we have set the market and our investors in view. Now we'll help NOVO Energy develop efficient energy storage; a critical research area where both the level of competition, the demand and the gain in terms of sustainable impact are at the highest level," says CEO Michael Stadi.
The increasing global demand for research equipment for the solar energy and battery industry is driving the international growth of Danish FOM Technologies, and interest in the unique slot-die technology in the form of the company's R/D equipment is spreading from research institutions into many commercial enterprises.
FOM Technologies enters the super league of the green energy transition.
The goal for customers, regardless of industry, is to utilize FOM Technologies' unique technology to more quickly develop high-tech solutions in response to a number of global challenges, where researchers work to find long-lasting solutions.
"We are time and again expanding the application possibilities for our technology in new industries, and our equipment significantly accelerates research and development at a number of commercial and governmental actors in the green transition. Our customer list includes Fortune 500 companies, world leading universities and the US Department of Energy, and a few weeks ago we sold another machine to a global MedTech company. With this historically large single order, we are now entering the super league of the green transition. The recognition of this breadth and relevance of our technology makes us all proud and humble, and I would like to thank the entire team for their enthusiasm and support in the process leading up to the signing of this milestone for our company," says Michael Stadi.
