Headquartered in Oslo, with branches in Risør and Norwich, Pipeotech is a subsidiary of Green Transition Holding, of which GCE NODE participant Otechos is a co-owner.
“We are thrilled to sign a partnership agreement with leading pipeline products and services supplier Safari Oil & Gas Company. Our joint ambition is to deliver our leak-proof DeltaV-Seal gaskets to enterprises all across the Kingdom of Saudi Arabia,” says Henrik Sollie, CEO of Pipeotech.
“The agreement is important for us as part of our new growth strategy. Going forward, we are looking to expand our business not only through direct sales, but also through distribution partners,” says Sollie.
The company has identified and negotiated with a number of large distributers. A plan for 2021 includes connecting with and training 15 exclusive and non-exclusive distribution partners.
In January, Pipeotech landed an agreement with Spanish industrial supplier Esinsa. This was followed by a new deal in February with Safari Oil & Gas Company (SOG), a major supplier to the Saudi Arabian oil producers.
“The deal provides us with an opportunity to expand our reach within Saudi Arabia through SOG’s diversified services and supply network, not only in the oil and gas industry, but also within the water and petrochemical industries. Our introduction to the Saudi market includes plans for future local manufacturing,” says Sollie.
He took over as CEO of Pipeotech in 2018. Since then, the company has focused on raising capital and taking the necessary steps to reach its ambitions.
“We are committed to helping our customers stop leakages caused by inadequate sealing technology and have spent half a decade testing our technology to back up the unique claims of the DeltaV-Seal. As a result of this, we can now offer our customers the sealing industry’s first and only 10-year gas-tight warranty. We believe this technology can revolutionize the sealing industry, helping companies significantly reduce emissions, accidents, and piping OPEX,” says Sollie.
Pipeotech had a turnover of NOK 3.5 million in 2020, but Sollie predicts turnover to double in 2021. He emphasizes that it will probably take some time before the cooperation agreements with Esinsa, SOG and other new distribution partners get off to a good start.