Interview with Applied Nano Surfaces, Sweden
Applied Nano Surfaces is a young Swedish company which commercialises an innovative technology of coating steel surfaces that reduces process costs and highly improves friction energy losses. The company is a spin-off from the technology discovery at the Ångström Research Laboratory at the Uppsala University. The company started with a business plan written for the Venture Cup competition in 2007, where the future ANS team received the “Best business idea” prize and reached the regional finale. The company was officially established the following year. We talked to the CEO, Mattias Karls, about the company, technology and the market prospects.
What is unique about the ANS technology?
Essentially the innovation is in the process of coating steel and cast iron surfaces that does not require complicated machinery and is therefore much cheaper than the existing alternatives. It can be integrated in virtually any industrial process and enables more companies to use advanced coatings that reduces friction and thus saves energy.
What was your strategy when you started the company and how is the company developing now?
From the start we were customer oriented and went to our prospective customers before looking for investments, so from the very beginning we were supported by the customer demand. Our main potential customers are in the automotive sector – such as parts and components manufacturers, as well as producers of marine diesels, compressors and bearings. At the moment we are engaged in nine ongoing customer testing projects with companies such as Volvo, Scania and Atlas Copco Secoroc, which we expect to show the benefits of using our technology. Having such customer-proven product will open up new doors for further outreach and new markets. Right now we are working primarily in the Nordics where we can be close to our customers, but there is no limit to spreading the technology around the world!
How do you feel about the automotive industry now – are your main customers still afloat?
In fact we have even bigger interest from our automotive clients, who are now forced to find more energy efficient solutions to their products. This is largely thanks to the legislation, especially the emissions regulations coming in 2013 and onwards, and we are nothing but optimistic about our prospects there. Our tests show that, for example if we’re talking about a truck or a bus, using ANS technology can improve fuel economy by as much as 2% - a massive saving!
So, what will be the next steps for you?
Successful results of the ongoing customer testing projects and scaling up the market outreach. We expect licensing revenues in 2012. We are also considering to raise additional funding in the coming months, and are ready to welcome smart and experienced capital.
If you want to know more about Applied Nano Surfaces, check out their profile in our database (you need to be a logged in member). You will also be able to see Mattias presenting at the Cleantech Capital Day in Oslo on June 3rd!
Read the previous intervies in the Cleantech company in the spotlight series: