WOW Technology is a company specialised in the production of tailor-made machinery and automated equipment for various sectors: aeronautic, automotive, biotech, pharma, agro-food, environment and energy among others. Jean Demarteau, WOW Technology’s Managing Director, reports that “Every product that the company produces is custom made, designed and produced in-house on Belgian soil, which is very important to us.”
In relation to one of the company’s centrepiece machine, the ‘Shaker Robot’, Jean explains that “The ‘Shaker Robot’ is a unique machine on the market that we have developed. It is automating the large-scale production of cellular cultures which will be used in the production of vaccines for example, and can manipulate up to EUR 5 million worth of products.” To be able to develop this kind of machinery, WOW Technology relies on a highly-skilled team and its mechanical know-how, as well as state of the art equipment.
To support his company’s growth, notably in terms of human resources, Jean has secured an EU-guaranteed loan through Sowalfin, the Walloon regional guarantee institution providing guarantees for loans to small and medium-sized enterprises, and backed by EIF under the Investment Plan for Europe. Without this loan, Jean recognises that growth would have been much slower. The projects on which WOW Technology’s team is working require significant capital, as the company’s largest customers are imposing payment delays given the amounts involved.
For the future, Jean foresees that his company’s growth will double within five years: “We will need to double our number of employees, currently 64, as the company is growing exponentially. We want to expand our market from the Belgian one to the European one, by targeting first France, then Germany and eventually Switzerland.” To that end, Jean has already contacted an important German communication firm, because as he rightly puts it: “We want to work with the right people on the right market.”
Company: WOW Technology (Belgium)
Type of business: Engineering company
EIF financing: InnovFin SMEG, EFSI