HydroWorks: deals poised to flow as Kiwi in­no­va­tion at­tracts strong in­ter­na­tional in­ter­est

DEMM Engineering & Manufacturing - - NEWS -

A new strate­gic di­rec­tion paves the way for growth as HydroWorks chases a big­ger slice of the Asia-Pa­cific mar­ket.

The Can­ter­bury based engi­neer­ing busi­ness spe­cial­is­ing in the de­sign and man­u­fac­ture of hi-tech equip­ment and sup­port for the hy­dro-gen­er­a­tion in­dus­try is close to se­cur­ing its sec­ond ma­jor con­tract and will set new rev­enue records in the com­ing year.

Dean John­son, HydroWorks CEO, says that the com­pany’s de­sign smarts and newly ac­quired man­u­fac­tur­ing ca­pa­bil­ity has cre­ated an in­no­va­tive so­lu­tion that com­petes very favourably with in­ter­na­tional com­peti­tors.

“HydroWorks has a world class de­sign/build ca­pa­bil­ity at a price point that is unique in Asia-Pa­cific, and the mar­ket is re­spond­ing really well.

“We have re­cently won a large multi-mil­lion dol­lar con­tract, the largest in our history, and are in the fi­nal stages of ne­go­ti­a­tion for an­other. We have many bids un­der­way.”

Hy­droWork’s smart de­signs are un­der­pinned by ad­vanced com­pu­ta­tional fluid dy­namic anal­y­sis soft­ware, which came out of Dr Ian Hunts­man’s re­search at the Univer­sity of Can­ter­bury. This know-how en­ables HydroWorks to ex­tract the max­i­mum ef­fi­ciency from a wa­ter driven tur­bine.

“Greater ef­fi­ciency leads to higher gen­er­a­tion ca­pac­ity, which can lead to higher rev­enue and profit.

“Some of the jobs we are cur­rently work­ing on have pro­duced ef­fi­ciency gains of up to 30 per­cent. This creates enor­mous fi­nan­cial ben­e­fits for cus­tomers,” says John­son.

HydroWorks Chair­man John Er­ring­ton says that HydroWorks is strongly po­si­tioned for a dou­ble win across two ma­jor rev­enue streams.

“As well as the many main­te­nance op­por­tu­ni­ties for ex­ist­ing hy­dro in­fra­struc­ture in Aus­trala­sia and the Pa­cific, there is a grow­ing aware­ness and ap­pre­ci­a­tion for re­new­able en­ergy gen­er­a­tion,” says Er­ring­ton.

In 2010, HydroWorks at­tracted the at­ten­tion of IP in­vestor Pow­er­house Ven­tures, (cur­rently a 23.2 per­cent share­holder). Since then, with the sup­port and guidance of Pow­er­house, HydroWorks re­fined its busi­ness strat­egy, raised cap­i­tal and pur­chased the pre­ci­sion engi­neer­ing di­vi­sion of Mace Engi­neer­ing, cre­at­ing the end-to-end offering which has set the plat­form for growth.

Stephen Hamp­son, Pow­er­house man­ag­ing di­rec­tor and HydroWorks board mem­ber says that HydroWorks is de­liv­er­ing on its po­ten­tial.

“HydroWorks de­liv­ers world class tur­bine de­sign/build ca­pa­bil­ity. It’s well po­si­tioned to ben­e­fit from the dis­trib­uted gen­er­a­tion trend and pro­vide on­go­ing ser­vices to lo­cal hy­dro in­stal­la­tions re­quir­ing sig­nif­i­cant cap­i­tal and main­te­nance ex­pen­di­ture,” says Hamp­son.

Dean John­son says that HydroWorks is cap­i­tal rais­ing to grow and look­ing to hire in all ar­eas.

“Our plans are am­bi­tious. We need cap­i­tal and top qual­ity peo­ple. We are part­way through a cap­i­tal rais­ing, part of which will be via trans-Tas­man eq­uity crowd fund­ing plat­form Equi­tise and are plan­ning fur­ther fundrais­ing next year. There is a lot of op­por­tu­nity and HydroWorks has a strong com­pet­i­tive offering. It is a really ex­cit­ing time for our com­pany.”

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