David J. Cord
All businesses are built on the foundation of an idea. Whatever the seed of inspiration may be, it just might eventually sprout into a globally influential humdinger. Of course, the flip side of the coin sees it wilting in the heat of competition or struggling to take root at all.
For Visedo* CEO Kimmo Rauma, the belief in the company’s idea was clear was it was founded in 2009: electrification could be done better.
“Up until then competitors making electric motors for ships, buses and machinery were adapting standard industrial technology to create new motors,” Rauma recalls. “We knew this approach was obsolete and didn’t serve the customer.”
The team at Visedo instead created their electric drivetrains from scratch, building the smallest, lightest, toughest and most efficient power transmitter.
Needless to say, they found themselves upon fertile ground indeed.
New software completed their offering, and the company soon found its solution much in demand, growing over 500 per cent in three years. Further adding to the growth spurt, late last year Visedo secured 20 million euros in financing to continue their expansion.
Electric growth in Asia
Visedo has made an impact by focusing on powerful hybrid and electric systems, such as for the maritime, public transport and heavy machinery industries. These power systems need to operate efficiently and reliably in tough conditions.
The company holds a number of records in this sector, such as powering the first fully electric bus in Helsinki. Elsewhere, in the maritime industry, it signed a deal to power the world’s first electric hybrid trimaran and the first electric hybrid ferry in Asia.
“We have seen the strongest market growth in Asia,” Rauma continues. “We will be announcing the opening of our new office in Hong Kong very soon.”
Currently, the company operates in Finland with a subsidiary in the Netherlands and has clients in 19 different countries. Rauma says that they will eventually expand around the world but at present are focused on leading the European and Asian markets.
The revolution speeds up
Whilst Visedo inevitably means business when it comes to electric-powered vehicles, the company still has time to have fun also. Case in point, the company hit the headlines in 2012 for powering one of the fastest electric vehicles in the world on a frozen Finnish lake. This wasn’t for any monetary gain, rather the company simply wanted to give it a try. One thing the company is taking most seriously, however, is its target market.
“We are not focused on personal transport applications,” Rauma says. “Together, heavy machinery, public transport and maritime represent a very significant addressable market. We want to remain highly focused on these applications where we have deep expertise and where we can make the most impact in tackling pollution and driving efficiency.”
The company has made tremendous progress in a short period of time, but they have big plans for the future.
“Simply put, our mission is to end pollution through electrification,” Rauma says. “The shift towards electrification of the world’s transport is already underway. We are at a point in history much like when petrol replaced the horse and cart, but now electricity is replacing diesel.”
Rauma emphasises that the electrification revolution is a once in a lifetime occurrence.
“It represents a huge opportunity on the one hand but also serious problems if we don’t act fast enough,” he states. “We have to get this right and Visedo is leading this monumental shift in the way the world’s transport is powered.”
*Acquired by Danfoss in 2017 and is currently known as Danfoss Editron