The need for sustainable solutions is great than ever

The need for sustainable solutions is great than ever 150 150 WaveTech
Aasmund Erlandsen – Chief Operating Officer

Being able to better optimize and utilize all types of batteries, as well as store energy in an efficient way, has never been more important and more relevant than it is today, according to Aasmund Erlandsen, COO of WaveTech. He sees a market of great opportunities.

With this as a starting point, Erlandsen highlights one of the most important challenges in the years to come: Strategic and sustainable growth.

The signals coming from the United States, WaveTech‘s leading market, are clear: The need for better and more sustainable energy solutions, as well as the security situation in Europe, are making utilization and storage crucial.

This is the strategic backdrop. Meanwhile, interest in and demand for the company’s technology is on the increase globally. Among WaveTech’s other markets, Africa and Asia are showing the greatest potential right now. The same applies for the Middle East and Australia. South America is coming up, as is Europe. Rapidly growing markets and the more established regions alike are all in need of technology that supports sustainable growth.

“We’re seeing opportunities all over the world, especially when it comes to the circular economy. Safeguarding and reusing resources, as well as facilitating the reduced use of other less sustainable energy sources—this supports WaveTech’s vision,” Erlandsen says.

WaveTech assesses the market to be both vast and versatile. It encompasses, for example, all equipment that needs to be recharged, energy storage, and the phasing out of diesel generators that we know are in widespread use in many countries. The challenges associated with the consumption and storage of energy in outlying areas are possibly even greater. Local energy production, the importance of access to antenna signals, being able to make better use of solar cell technology—the challenges are many.

Growth—both the growth WaveTech has witnessed in the last couple of years, and the opportunities that are presenting themselves now that products and services are being fully rolled out—requires resources. Technological development has been a priority up to this point. Now it’s the turn of the organizational and marketing sides of the business.

“We’re going to be hiring new colleagues to work at the international level, at the same time as developing a network of agents and entering into strategic partnerships wherever they make sense,” Erlandsen says.

Our solutions are environmentally friendly: for example, for lead batteries, which make up a large segment, 99 percent can be recycled. Currently the situation for lithium is somewhat different, but here too short-term technological developments will allow for increased utilization. Extending the use of existing batteries reduces the need for new ones. That’s a positive and sustainable outcome.

An increase in turnover from over US$ 3 million in 2021 to over US$ 10 million in 2022 offers only limited insight into the opportunities. Once the technology is fully introduced and our market presence is reinforced, growth will follow. Erlandsen is reluctant to comment on specific figures, but concedes that optimism is high. He doesn’t rule out annual turnover of up to US$ 1 billion USD in five or six years’ time.

“To put it in simple terms, our market is everything that depends on stored energy, and we have everything it takes to make a success of it,” he says.