Millions go to welding robot
Inrotech from Fyn, a company which stands behind a revolutionary robot welding technology, receives millions to develop better tests, which shall increase sales and growth.
Last year, the company received DKK 5.5 million in capital injection from Kraks Fond to secure a better focus on sales, and now receives DKK 2.2 million from Markedsmodningsfonden (The Market Development Fund). The resources from the state fund will assure a better internal test cycle before the company sends its welding robots to its customers, says director Gert Jørgensen.
"It is part of the commercialization of the company, which until last year didn’t have much focus on sales" says Gert Jørgensen, who has 20 years of experience at Maersk as Technical Director.
The money from the fund helps secure, that we deliver thoroughly tested products to our clients, and I think it is very generous of the Danish state to give us that opportunity, says Gert Jørgensen.
Last year his brother, Flemming Jørgensen, brought him “home” to the Odense-based company, so that he could be in charge of the commercialization of the firm, which the previous-Lindø colleague has built since the shipyard closed. Gert Jørgensen started alongside Morten Arndal Nielsen, which among others has a past in Udvikling Fyn (Development Fyn), who today is Sales Director at Inrotech.
Critical final test
In the efforts to assure the commercialization of the company, the test cycle and a product thoroughly worked are decisive, explains the new director.
The money from the fund is important for us, as we are still a start-up company. One thing is to have an idea and demonstrate it works, but after that it is important to make sure the product is stable and tested thoroughly; this is often overseen, and it is expensive for a small company, he says.
Inrotech combines new robot technology and welding solutions for for example offshore, wind industry and shipbuilding industry, in which there is need for many welding wires to bind the products together. There are challenging welding jobs in hardly accessible areas, which are to be performed on objects that vary greatly in thickness. Jobs which are to be replaced by a robot solution, without the need of staff involvement in the process. Basically, we replace the man with a robot brain, which with the help of a Fanuc robot (large Japanese robot, ed.) and welding equipment can do things that today are performed by hand, he explains.
There are today 12 employees at the company in Bellinge, but the new project which focuses on better test runs and selling robot solutions should result in more positions at the Odense-company. Exactly how many, Gert Jørgensen would rather not say, but he stresses that there is great potential in the solutions. He cites a member of the boards of directors of Inrotech to emphasize just how great:
The market we wish to enter is enormous. Almost everything is welded by hand in the offshore industry, and if we succeed in that field, we will be as well as a mosquito at a nudist camp.
Incubator firm helped company on their way
Inrotech was helped by Væksthus Danmark when they had to find new capital. They have had focus on welding string and development work at Inrotech from Fyn for several years now, but the Bellinge-based company needed another help getting millions in funding from Markedsmodningsfonden (The Market Development Fund). Væksthus Syddanmark showed the way for the company in Odense, which is among the companies in the region, who have received an allocation in the funds latest fund distribution.
It has been a great advantage for a company like Inrotech to get competent feedback and advice in relation to raise capital. We have gotten to know some of the opportunities, which we definitely did not know about beforehand, says director Gert Jørgensen about the dialog the company has had with Væksthus Syddanmark.
Consultant Torben Blicher has been available with good advice and counsel in this area.
We have put them in the direction of Markedsmodningsfonden this time, but have also previously pointet them towards other financial opportunities, he says.