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news release:
HTS-110 wins start-up
exporter of the year
Lower Hutt, New Zealand, 15
March 2007: A company specializing in high temperature superconducting
solutions won the ‘Start up Exporter of the Year’ category at the Gen-i New
Zealand Incubators Awards in Auckland on Wednesday.
HTS-110 Ltd originated from Industrial Research Ltd, one of New Zealand’s crown
research institutes. It competed for the award with MPT Solutions, another
company originating in Industrial Research but now completely spun out.
HTS-110’s CEO, Dr. Sohail
Choudhry, says the fact that two companies that began under Industrial
Research’s umbrella were finalists for the award speaks volumes for what can be
achieved when the support to incubate start-ups is there at an early stage.
“The award itself is also great recognition of our team’s work to date and it
shows that we’ve leveraged our IP and 15 years of research at Industrial
Research, to the extent that HTS-110 now has inroads to businesses all over the
world.”
With almost 100% of HTS-110’s
product exported, it has a global presence extending to Europe, Australia,
Japan, China, Taiwan, South Korea and the US.
Key highlights from the last
year include the sale of two large magnet systems - valued at $1.2 million.
“HTS technology is maturing too
– to the point where it will soon be mainstream, which will provide a huge
revenue stream for both HTS-110 and the whole HTS sector in New Zealand.
“To really put it in
perspective, as we further implement HTS-110’s industrial and scientific product
strategy, the potential for our business could reach in excess of $100 million
in the next 10 years.
HTS-110 has been in operation
since 2004 and in that time has grown staff numbers from 2 to 14.
It has already achieved a
multimillion dollar turnover, established a US sales office and raised
significant additional equity investment from shareholders.
HTS-110 incorporates the design,
manufacture and marketing of high temperature superconducting solutions for the
medical, scientific, energy, defence, transport and industrial sectors.
High temperature superconducting
products hold an advantage over other superconducting or high power systems
because they can transmit more electrical current – enabling them to be lighter,
smaller and more efficient.
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