Cleantech example from Finland - Watrec Ltd is booming on biogas markets
PRESS RELEASE March 2014
Biogas markets are booming both globally and in Finland. International market growth for biogas solutions is expected to grow extremely fast in the near future. The market demand is supported by key megatrends such as Waste-to-Energy (WtE), landfill directive in the EU, and sustainable resource recycling.
Watrec Ltd, a Finnish based biogas technology company, took a major growth leap in 2013
The company’s turnover jumped from EUR 2.2 million to EUR 9.8 million (+509% growth) and EBIT was EUR 1.2 million (+102% growth). The growth will continue due to company’s all time high order book for 2014 and 2015. In 2014 Watrec’s turnover is estimated to be higher than EUR 20 million (over 100 % growth again).
Watrec Ltd is specialized in organic waste and waste water management solutions
The company provides permit application and planning services, turnkey solutions and OEM services. The growth in 2013 was mainly affected by the partnership agreement with Biotehdas Ltd, a biogas plant chain managed by Taaleritehdas Plc. Watrec is constructing turnkey biogas plants for Biotehdas in Kuopio and Honkajoki in Finland. In addition, Watrec has several biogas and other projects under planning.
One of the remarkable results; the construction projects have proceeded as planned. Previous years Watrec has built for example a biogas plant in Vampula, Finland with it’s own concept. There the planned capacity and the realized capacity has been one to one, which is rare and proves the quality of the engineering as well as the construction.
With its reference biogas plants in Finland, Watrec has faced an increased international demand for its proven cleantech concept
The company has design projects abroad and it is having discussions with local partners in several countries. Outside Finland, Watrec focuses on design services and technology solutions.
Watrec’s number of personnel increased 40 % in 2013 and currently the company is recruiting design engineers, project managers, and sales people. Even more importantly the company creates jobs indirectly by providing work for technology providers, installation, and construction companies.
”Watrec, founded in 2003, has developed its own biogas concept for 10 years. Finally that work is bearing fruit. The global biogas markets today are very similar to wind turbine markets 10 years ago. When technology is commercially ready to market and investments to projects start running, the market growth is accelerating. Watrec has a great opportunity to take a leading position in biogas markets globally”, comments Juhani Suvilampi, CEO of Watrec Ltd.
Juhani Suvilampi, CEO, +358 400 801 416 Tero Luoma, Chairman of the Board, +358 50 344 9993