VANCOUVER, CANADA, September 27, 2024 — Novarc Technologies Inc., a full-stack robotics company specializing in the design and manufacturing of cobots and computer vision AI for automated welding applications, announced today it has ranked #175 on the 2024 Report on Business magazine’s ranking of Top Growing Companies published today.
Canada’s Top Growing Companies ranks Canadian companies on three-year revenue growth. Novarc earned its spot with three-year growth of 261%. Canada’s Top Growing Companies was launched in 2019 to celebrate the achievements of innovative business in Canada; 417 companies earned a spot on this year’s ranking. The full list of Top Growing Companies is in the October issue of Report on Business magazine and published here.
“We are thrilled to once again be named one of Canada’s Top Growing Companies. We are extremely proud of our team’s commitment and dedication to building a better world by advancing our welding automation solutions,” says Soroush Karimzadeh, CEO of Novarc.
“Our annual ranking of Canada’s Top Growing Companies reflects the sector-spanning ingenuity of this country’s entrepreneurs and corporate leaders,” says Dawn Calleja, Editor of Report on Business magazine. “And we think it’s important to tell their stories, to help inspire the next generation of up-and-comers across the country.”
Novarc provides welding automation solutions for mechanical contractors and fabricators serving the oil & gas, shipbuilding and engineering, procurement and construction industries. The company’s flagship product is the Spool Welding Robot (SWR™), a welding cobot that enables fabricators and mechanical contractors to win more projects and improve margins on those projects through three to five times improvement in carbon steel pipe welding productivity, and up to twelve times on stainless steel pipes, with less than one per cent repair rates and an average ROI of six to 18 months.
“The Globe and Mail congratulates this year’s Canada’s Top Growing Companies’ winners for achieving exceptional growth and resilience in facing business challenges,” says Andrew Saunders, CEO of The Globe and Mail. “It is a testament to dedication, strategic vision and innovative drive.”
About Novarc Technologies Inc.:
Novarc Technologies is a full-stack robotics company specializing in the design and manufacturing of cobots and AI-based machine vision solutions for autonomous welding. Novarc’s Spool Welding Robot (SWR) is the world’s first of its kind in pipe welding applications. As a proven pioneer in the field, Novarc’s team is dedicated to solving challenging welding automation problems that improve customers’ bottom line.
About the Globe and Mail:
The Globe and Mail is Canada’s foremost news media company, leading the national discussion and causing policy change through brave and independent journalism since 1844. With our award-winning coverage of business, politics and national affairs, The Globe and Mail newspaper reaches 6.2 million readers every week in our print or digital formats, and Report on Business magazine reaches 2.9 million readers every week in print and digital every issue. Our investment in innovative data science means that as the world continues to change, so does The Globe. The Globe and Mail is owned by Woodbridge, the investment arm of the Thomson family.
For more information, visit www.novarctech.com.
Media Contact:
Debra Hadden; Director of Public Relations; Novarc Technologies Inc.
debra@novarctech.com | 604-240-3196