Expanding internationally with new customer and investor
This summer, Solwr Robotics has conducted a targeted share issue with new and existing investors. British company James Hall & Co has entered the scene, securing 20% of the company, while H.I. Gjørtz Sønner AS has converted long-term debt into an investment fund, strengthening their position in the company.
James Hall & Co is a venerable Lancashire-based family business, founded in 1863. They are the primary wholesaler for SPAR retailers throughout Northern England, serving just under 600 SPAR stores.
"It means a lot to have such a significant player like James Hall & Co become a shareholder. They have very close ties to Spar International Ltd, thus becoming a solid gateway for us into the global market."
- Torbjørn Krogen, CEO of Solwr Group
The dialogue between Solwr and James Hall & Co has been ongoing since the summer of 2022. There have been ongoing studies of technology and solutions, followed by negotiations. The engagement is a direct result of the desire to automate parts of the supply chain in the UK, and above all, a strong belief in Solwr's products and solutions. The agreement was signed in July.
– Through the extensive processes, this is a player we have come to know very well over time. At the same time, they have gained good knowledge of us and the status of our products. Therefore, we feel that this is a very good and important step in the right direction for Solwr, explains Krogen.
As recently as December last year, Asko/NorgesGruppen entered the scene after several years as a development partner. Thus, Solwr has strong actors behind it both nationally and internationally. With recent developments, the tech company is now strengthening its organization to position itself for the next phase.
– We possess unique expertise and are proud of the solutions we have developed. Solwr is still a company where founders and employees have a significant ownership stake. We have already positioned ourselves nationally, but it's clear that recent developments make us more robust – and give us considerably greater impact – as we venture into the international market. Internationally, we see enormous potential for our solutions, says Krogen.
This summer, Solwr was granted a patent for the autonomous robot for warehouse order picking, Grab.
– After a long period of targeted development work and market dialogue, we are now also heading towards a positive operating result for 2023. In addition, we have concrete orders and active contract negotiations. Going forward, our main focus is on customer deliveries and further product development. We are in a very positive period overall, with a lot of exciting things happening in parallel, concludes Torbjørn Krogen.
Facts about Solwr Robotics:
• Norwegian tech company that develops robots for efficient warehouse logistics.
• Established in 2016 by Torbjørn Krogen and Olivier Roulet-Dubonnet.
• Affiliated with Solwr Group AS, with around 100 employees – spread across offices in Ålesund, Oslo, and Trondheim.
• Solwr Group AS, along with Solwr Software AS, also provides the ERP solution Trace for order, inventory management, and distribution to several of Norway's largest retail actors.
• Since its establishment, it has developed two robot solutions:
- The Pallet Sorting Robot Sort™ has already been introduced to the market and is a product that Solwr has a solid order book for.
- Grab™ is an autonomous robot for picking warehouse orders. The international market potential for the Grab robot is considered significant, as it offers low-risk automation of existing warehouses. An alternative to most other solutions, which usually require significant investments in both property, facilities, and equipment, still with higher operational risks and expenses. Grab is the result of substantial R&D efforts and world-class innovation. Developed in collaboration with SINTEF, and with financial support from Innovation Norway, the Norwegian Research Council, and ASKO Norway AS.
• By 2024, Solwr Robotics will have pilots in place in at least three countries outside of Norway.
For more information, contact:
Torbjørn Krogen, CEO
torbjorn.krogen@solwr.com
+47 926 09 775
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