Industrial IT specialist Factry conquers the Scandinavian process industry
Established multinationals and promising start-ups benefit from technology by Ghent-based scale-up
Ghent, 1 October 2024 - Ghent-based Factry, specialized in the development of Industrial IT solutions and MES software for the process industry, is making strides in the Nordics. With flourishing collaborations and new partnerships with established names such as Tata Steel (Surahammars Bruk), MTC Powder Solutions, and cleantech companies Carbo Culture and Spinnova, the scale-up is seeing a significant rise in demand for its solutions in the region. To sustain this growth, Factry will demonstrate its solutions at the ProcessTeknik trade fair in Gothenburg. In the future, the Ghent-based growth company aims to target the process industry in the U.S. and Canada.
Factry has seen substantial growth in recent years. Since 2020, the scale-up has nearly quintupled its revenue. 2023 saw a growth in annual recurring revenue of 35%, with the customer base increasing by more than a third. A key factor in this trajectory has been business beyond Belgian borders. Today, players in the process industry in 31 countries worldwide are reaping the benefits of Factry’s solutions.
"Our market is inherently international," says co-founder Frederik Van Leeckwyck. "If we want to scale, we have to look abroad. We've nurtured that ambition from the start and have managed to make it a reality. Today, about half of our revenue comes from clients and projects outside Belgium, from Vancouver to Melbourne."
Carbolysis
One of the notable growth areas for Factry in recent months has been the Nordics. Since the beginning of this year, Finnish company Carbo Culture has been using the open data management platform Factry Historian. This young start-up has developed a unique patented process that converts carbon in plant waste or biomass into biochar through carbolysis at high temperatures. Biochar is a stable and inert form that enables permanent storage, thus keeping carbon out of the atmosphere. Factry’s system will also be used at Swedish company MTC Powder Solutions, a producer of near-net shape (NNS) components used in demanding industries such as oil and gas, chemicals, nuclear energy, and power generation. In addition to Historian, MTC Powder Solutions will also use FactryOS, the MES software from the Ghent scale-up. The inspiration for this came from its neighbors at Surahammars Bruk, part of Tata Steel Europe. MTC Powder Solutions’ experts experienced first-hand the impact of Factry's MES software during a visit to the steel mill and decided to adopt it as well.
The power of open-source technology
Factry is no newcomer to the Scandinavian process industry. Since 2019, the Surahammar steel mill, which is a part of giant Tata Steel Europe, has benefited from the Ghent-based technology. Finnish cleantech company Spinnova, which developed technology to produce textile fibers from wood or waste without harmful chemicals, has also seen efficiency improvements on its production floor thanks to Factry.
"Spinnova started using our open-source collector in 2019 to capture process data at their pilot facility. They have long recognized the importance of process data as a foundation for operational improvements. Due to their growth and increasing production complexity, the company transitioned to Factry Historian, our open data management platform, in 2022, which helps make data available across the organization and improves process efficiency and reliability," says Frederik Van Leeckwyck.
"Factry convinced us with the power of open-source technology," testifies Stefan Schrewelius-Axell from Surahammars Bruk. "As a result, we have much more control over our data and processes today. The performance of their system is beyond question, as is their commitment to providing solid service. Based on our experience and evolving needs, the software is continuously being further developed, allowing us here in Sweden to maximize our production."
Data-literate
According to Van Leeckwyck, Factry's success in the Nordics is no coincidence.
"The companies in the process industry there are extremely data-literate; they don't beat around the bush and know exactly what they're looking for. They understand the importance of a solid data infrastructure and the value of open technology that enables them to optimize their data and achieve efficiency gains. There's also a cultural fit. They share the same mindset with us, as well as a belief in our technology. I'm proud that as a Ghent-based company, we can offer these forward-thinking, data-driven businesses the opportunity to get the most out of their assets."
ProcessTeknik Trade Fair
For Factry, the goal now is to continue its international growth. The Nordics are an important market for the Ghent scale-up and offer significant potential. For example, the first projects in Denmark are now being launched. To bolster its growth ambitions in the Nordics, Factry will be present at ProcessTeknik in Gothenburg from 8 to 10 October, where it will showcase its MES software and open datamanagement platform Historian to the local process industry.
"The trade fair is an ideal opportunity to get better acquainted with local integrators who can introduce our solutions in Scandinavia. After that, we’ll slowly turn our attention to the United States and Canada, but all in good time," concludes Van Leeckwyck.
About Factry
Factry provides process industry companies with open software for monitoring, analyzing and optimizing their operations. Our solutions make actionable data insights accessible to every role, from operator to CFO. With a strong focus on usability, Factry brings users closer to their process data so they can learn from it, make smarter decisions, avoid downtime and continuously improve the quality of products and processes. With Factry, manufacturers join forces with a team dedicated to the future of their plant, fostering a culture of continuous innovation - critical to gaining a competitive advantage in Industry 4.0.
Contact Factry
Frederik Van Leeckwyck, M: +32 474 888 573, E: frederik.vanleeckwyck@factry.io
