During the annual conference of The Confederation of Norwegian Enterprise on 14. January, NAVTOR was announced as the winner of the Research & Innovation Award 2018. The International Research Institute of Stavanger, The Confederation of Norwegian Enterprise and the Rogaland County Council has for the last 17 years bestowed the award to acknowledge companies who show commitment to commercializing research-led innovations.
“It is truly an honor to receive this award. Exploring emerging technologies and developing commercial products based on the findings is crucial for succeeding in the digital world,” comments NAVTOR CEO Tor Svanes after receiving the award.
One of the key criteria of the jury’s decision was that the winner of the award had to demonstrate how their innovations is a result of dialogue and co-operation with research facilities in both Norway and abroad. In this regard they found NAVTOR to be a strong candidate since the company has both managed, owned and participated in 13 major research & development projects, among which is three major EU projects within FP7 and Horizon2020 (more specifically the MarTERA and ECSEL -programs) that aims to explore the validation and verification of autonomous vessels. Furthermore, the winner of the award had to demonstrate ability to use the findings and insight to create commercial and profitable products and services that are in demand in an international market. On this criteria NAVTOR could point to strong financial results as their innovative portfolio has nearly doubled their revenues every year since it was established in 2011.
“The value of strong commitment to exploring new technology, and keen awareness of the opportunities that lies in working closely with research facilities on projects, both in Norway and across Europe, cannot be underestimated,” explains Svanes. “It has enabled us to disrupt the market and become the leading provider of official Electronical Navigational Charts and e-Navigation technology to vessels sailing all over the world.”
It is estimated that approximately 40 percent of the world’s cruise ships and 15 percent of the global merchant fleet and 70 percent of the international offshore fleet make use of NAVTOR’s services. In addition to supplying the vessels with solutions for seamless and automatic updating of their nautical charts and publications, NAVTOR has also developed ground-breaking solutions for Passage Planning, Fleet Monitoring and tools that allows for various reports to be generated automatically, thus saving hours of time for both the crew on board and the management on shore.
“We have a strong maritime industry in Rogaland and Norway, and we at NAVTOR wants to play a part in maintaining this position,” said Svanes. “Our involvement in Research & Development projects is a major reason why we are able to launch new solution faster than other players in the industry. It is an important competitive advantage which we will continue to focus on. There is still a lot of emerging technology on the horizon that will completely transform the maritime world as we know it, so we all need to pay close attention if we want to stay ahead of the competition.”