NOVARC TECHNOLOGIES NAMED TO THE GLOBE AND MAIL'S FIFTH-ANNUAL RANKING OF CANADA'S TOP GROWING COMPANIES

VANCOUVER, CANADA, Sept. 29, 2023 (GLOBE NEWSWIRE) -- Novarc Technologies Inc., a leading provider of advanced robotics solutions, announced today the company has placed No. 145 on the Globe & Mail's 2023 Report on Business ranking of Canada's Top Growing Companies.

Canada's Top Growing Companies ranks Canadian companies on three-year revenue growth. Novarc earned its spot with three-year revenue growth of 330%. 

"On behalf of our team at Novarc, we are very proud to once again achieve this prestigious ranking on the Globe & Mail's list of Canada's Top Growing Companies. Novarc's pipe welding automation system provides a solution to the fabrication industry facing increased competition, demanding timelines and a shortage of skilled welders. Our Spool Welding Robot allows fabrication shops and manufacturers to deliver projects faster, at a lower cost, and with better quality welds, enabling them to compete on bigger projects and improve delivery timelines, capacity and margins," says Soroush Karimzadeh, CEO of Novarc Technologies.

Canada's Top Growing Companies is an editorial ranking that was launched in 2019. It aims to bring the accomplishments of innovative businesses in Canada to the forefront. In order to qualify for this voluntary program; companies had to complete an in-depth application process and fulfill requirements. In total, 425 companies earned a spot on this year's ranking. 

The full list of 2023 winners along with editorial coverage is published in the October issue of Report on Business magazine. The list is out now and online here.

Novarc's automation solution is being recognized by fabrication shops and contract manufacturers serving the oil and gas/water & wastewater and other key industries vital to infrastructure, as a necessity. Novarc is currently developing an AI-powered robotic solution which will advance precision, efficiency and flexibility in traditional manufacturing. 

"Canada's Top Growing Companies acknowledges the drive and ingenuity displayed by Canadian business," says Dawn Calleja, Editor of Report on Business magazine. "This year's ranking serves as an inspiration for future business owners." 

"This year's Report on Business magazine's list of Top Growing Companies shows how innovative ideas always rise to the top, perhaps even more so in times of uncertainty," says Andrew Saunders, CEO of The Globe and Mail. "The Globe and Mail congratulates this year's winners for meeting and surpassing those economic challenges."

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About Novarc Technologies Inc.:

Novarc Technologies is a full-stack robotics company specializing in the design and manufacturing of cobots and AI-based machine vision solutions for autonomous welding. Novarc's Spool Welding Robot (SWR) is the world's first of its kind in pipe welding applications. As a proven pioneer in the field, Novarc's team is dedicated to solving challenging welding automation problems that improve customers' bottom line. 

Visit us at www.novarctech.com.

About The Globe and Mail 

The Globe and Mail is Canada's foremost news media company, leading the national discussion and causing policy change through brave and independent journalism since 1844. With our award-winning coverage of business, politics and national affairs, The Globe and Mail newspaper reaches 6.2 million readers every week in our print or digital formats, and Report on Business magazine reaches 2.7 million readers in print and digital every issue. Our investment in innovative data science means that as the world continues to change, so does The Globe. The Globe and Mail is owned by Woodbridge, the investment arm of the Thomson family.

Attachments

• Novarc's Spool Welding Robot (SWRtm)
• The Spool Welding Robot (SWRtm) is the world's first of its kind in pipe welding applications