Keronite celebrates record annual financial performance in 2021
2nd February 2022 – Cambridge, United Kingdom – Keronite, the global leaders in surface technologies for light alloys, can announce today that financial results posted in 2021 broke the company’s previous records.
The company develops advanced surface coatings for light alloys, developing these solutions bespokely to improve materials performance in a range of unique, intensive applications. After development, the company deploys these coatings on components in high volumes – ensuring that customers can benefit from innovations at an industrial scale.
These results mark Keronite’s third consecutive year of growth, despite global supply issues and the impact of the COVID-19 pandemic. Following a 13% growth between 2019-20, Keronite’s revenues grew by 22% between 2020 and 2021.
“This set of results marks another year of success for us,” comments Matt Hamblin, CEO of Keronite.
“Not only have we shown that we’ve been able to adapt rapidly to an unprecedented set of global events, but we’ve come out of the other side looking brighter and more prosperous than ever,” he continued.
Keronite’s growth is expected to continue into 2022, with forecasted growth for the year expected to be in excess of 50%, with the company launching several new automated production lines.
Strong performance across both sides of the Atlantic
Keronite has a number of blue chip customers operating both in North America and Europe. The company serves both markets through its headquarters in the science hub of Cambridge with a second manufacturing hub based near the North American aerospace hub in Indiana.
“We’ve seen a growth in the business from both our UK Technology Hub and our specialist US Manufacturing facility”, explains Matt Hamblin.
“There has definitely been a boost in UK manufacturing, with more UK manufacturers looking at technologies developed in Britain, and we’ve seen a lot of renewed interest in the technology from that.”
“In the US, we’ve seen factories reopen and demand return to pre-pandemic levels, with supply chains returning to their pre-pandemic state, also,” continues Matt Hamblin.
Continued growth throughout 2022
The company anticipates another successful year of growth in 2022, with many of the development projects converting into large-scale industrialised manufacturing customers. With a full year of accruing these projects with new customers, Keronite’s prospects are bright for 2022.
Further to this, Keronite has won high value contracts with companies in the semiconductor industry. Following several years of supply chain challenges, the industry is looking for more robust, reliable manufacturing processes. Keronite’s plasma electrolytic oxidation (PEO) technology provides a unique advantage over heavy metals and alternative coatings, enabling manufacturers to keep volume manufacturing lines up and running, increase the time between necessary service intervals, and eliminate unanticipated downtime.
“We’ve received strong levels of customer engagement in the semiconductor industry, as well as some other industries where our research and development teams are creating invaluable solutions for our customers,” explains Matt Hamblin.
“As well as being able to provide solutions, the scalability of the PEO technology puts us in a unique position to create highly innovative coatings that can radically improve the performance of components at scale,” he continues.
The company is set for a further year of success, and is anticipating growth in excess of 50% over the next 12 months, owing to a number of new projects in the pipeline and development projects converting into long-term manufacturing customers. With the planned introduction of new, automated PEO production lines, this will enable this quick growth, with a revenue forecast for 2022 of £7m.
Keronite is developing, designing and deploying the world’s most advanced surface treatments for lightweight alloys. The company creates bespoke-to-application surface technologies that uniquely improve the performance of light alloys in testing applications. This enables industries to reduce the weight whilst increasing the life of their products.