FOM Technologies is significantly raising revenue guidance in both 2022 and 2023, following milestone order from yet another Fortune 500 company

With an order from yet another Fortune 500 company, FOM Technologies today cements its position as a supplier of technology to leading materials researchers. At the same time, FOM Technologies raises the revenue expectations for both 2022 and 2023 by 20 per cent and 25 per cent respectively. The order represents a notable milestone for FOM Technologies, which now has 10 Fortune 500 companies in its customer portfolio.

FOM Technologies announces today that the company has been selected to supply slot-die-coating equipment to yet another Fortune 500 customer. The agreement comes after a number of previously announced orders from battery and solar energy-related customers in the world’s absolute super league.

Increasing global demand for research equipment for the solar energy and battery industries drives international growth for Danish FOM Technologies, where interest in the unique Danish slot-die technology and thus in acquiring the companies R/D equipment is steadily increasing. The goal is to utilize FOM Technologies’ unique technology to meet demand for new high-tech solutions to a series of global challenges.

CEO Michael Stadi says that the customer wishes to remain anonymous to best protect their research and development, but states that the customer works with material research within the Tech segment. This opens up FOM Technologies to a new class of customers.

Our technology is steadily increasing its relevance in a number of global high-tech industries. We now have a total of 10 Fortune 500 clients, all of whom are leaders within their respective field. There is literally a vital race to deliver solutions to the world’s biggest problems in health, energy and climate and the secrets of these companies are well kept. Therefore, we cannot mention the customer’s name, but simply note in silence and pride that Danish technology is making its presence felt on the world stage.

It is election day today in Denmark and with our background as a spin-off at the science environment at DTU (Danish Technical University), I would encourage Danish politicians to work to ensure that the Danish talent pool can continue to develop in Denmark and that companies can more easily obtain financing in Denmark to develop the solutions that the world needs and to ensure Denmark’s income and continued relevance in the world,” says CEO Michael Stadi.

Significant upward adjustment and maturing for Small Cap listing.

Based on this order and the company’s overall pipeline, FOM Technologies is significantly raising the guidance for revenue in both 2022 and 2023 (see table below). During the same period, the company plans to strengthen the organization to embrace the expected increasing demand as well as continue to invest in innovation and product development. EBITDA expectations for both 2022 and 2023 therefore remain unchanged for now.

Underpromise – Overdeliver is an unwavering mantra shared by the entire team behind FOM Technologies, which gathers behind an ambition to take the next natural step from growth stock to a Small Cap listing next year. Our technology has been selected by yet another global behemoth. The support of more than 3,500 private investors has made it possible for us to establish a customer list that includes many of the world’s most recognized companies and research institutions, but we would also like to have the large institutional investors on our journey in the long term. Therefore, we continue to mature our organization to enter the main market in 2023 and to really light up the radar of institutional investors in the future” concludes Chairman of the Board Andreas Nielsen.