Company Overview

HASYTEC is a technology Company that uses patent-protected ultrasound technology to prevent the build-up of organic and inorganic deposits on fluid-carrying surfaces in both marine and industrial applications. Established in October 2016 against the maritime backdrop of Kiel, adjacent to the port, HASYTEC emerged with a vision – to be a catalyst for environmental change in the maritime industry. Anchored in the shipping industry, the Company’s inception was driven by the aspiration to play a pivotal role in cleaning oceans and mitigating CO₂ emissions amid the burgeoning maritime landscape.

The concept for the product was conceived by the founding team, with Andreas Hoffmann (CTO) utilizing his engineering expertise to bring it to life, maintaining the highest quality standards, drawing from his background in German submarine development. Simultaneously, Jan Kelling (CEO), leveraging his 30 years of sales experience, diligently ensured market fit right from the inception of the product’s development.

Since their launch, HASYTEC has received 10+ awards, including the German Innovation Award in 2020, and was nominated for many more, like the German Environmental Award. Their ultrasound technology granted them a broad market access and with strong customer base in the field of preventive ultrasound technology.

To date, their products offer an eco-friendly solution, reducing fuel consumption, maintenance expenses, eliminating the need for environmentally harmful cleaning devices such as biocides and heavy metals, and making mechanical or chemical cleaning options excessive. HASYTEC products not only provide companies with a return on invest within a timeframe of less than a year, but also supports environmental efforts. To date HASYTEC saved approximately 600,000 tons of CO₂ and 400 tons of copper which according to HASYTEC’S estimations marks a significant environmental impact (see actual ticker on www.hasytec.com).

HASYTEC has remained an independent entity, steering its own course without external investors. With a dedicated team of more than 40 professionals and a network of international distributors, the Company has successfully positioned itself for growth globally. The Company’s technology is today already implemented on over 700 ships and 150 industrial applications. HASYTEC recently secured contracts with Arla, Paulaner, Warsteiner, Infineon, Hafnia Tankers, TORM and Maersk. These customers reflect the cross-industry footprint and adaptability of HASYTEC’s products.

A key differentiator lies in HASYTEC’s intellectual property-protected Unique Selling Proposition (USP), involving the communication method between its ultrasound transducers, ensuring comprehensive 100% coverage for liquid-carrying surfaces. HASYTEC has developed the worldwide only, as far as HASYTEC’S Management Board is aware, AI-controlled technology that effectively prevents the buildup of deposits that is, thanks to its platform-based approach, easily adaptable to and widely applicable in many industries. The development and production in Germany ensure a high-quality standard and high technology maturity level. HASYTEC has, and will continue to, manage its production in-house while sourcing specific parts and assemblies from trusted suppliers. This approach ensures quality control and flexibility in our manufacturing processes both now and in the future. Moreover, HASYTEC has the only ultrasound antifouling technology that has obtained Type Approval from Lloyd’s Register for its shipping technology (Database search – www.lr.org – 02.09.2023). The Type Approval is a certification that independently confirms the highest standard of product quality and safety in shipping.

From a financial standpoint, HASYTEC is cash flow positive since 2022, their profit before taxes is positive since 2020 and the Company has an increasing turnover and profit. Looking ahead, the Company believes to be on the beginning of a growth trajectory, targeting a revenue above 6.5 MEUR in 2023, with substantial revenues of 4.6 MEUR already achieved by August 2023. Moreover, HASYTEC sees opportunities for constant revenue growth and portfolio expansion, supported by the funding associated with the IPO. The objective of the Company is to attain revenue figures in the 120 MEUR range by 2026, all the while maintaining an EBITDA exceeding 20%, signaling a scaling of operations and market presence.

The revenue has historically been reduced due to the utilization of up to 40% rebates (today reduced to on avg. 15%) for marketing in shipping applications. The initial sales strategy was the expansion within existing clients after initial first sale, exemplified by successful cases like TUI Cruises, TORM, Hafnia Tankers and Infineon. To date global business was not focused by a dedicated business unit, and industry expansion primarily driven by spill-over effects from existing German clients. In the shipping sector, the presence extends beyond Germany to Scandinavia, and global customer acquisition predominantly through trade fairs. With the approach to date HASYTEC was able to access the market successfully and won global market leaders as reference for all addressed applications and industries.

The estimated growth is fueled by the introduction of a new product developed to prevent fouling and marine growth on whole vessel hulls in Q4 2024. This innovative product delivers additional fuel savings of up to 16% and reduces CO₂ emissions substantially and is built on the same product platform (existing HASYTEC technology). The team is actively exploring avenues to enhance entry barriers for competitors through strategic patent filings and expanded utilization of AI capabilities. Furthermore, a new International Maritime Organization (IMO) convention, prohibiting the use of copper for cooling water applications in shipping, generates the need to substitute these systems by new technologies. This use case is one of the key applications of HASYTEC´s technology and HASYTEC anticipates that this will enable further growth.

According to the Company, HASYTEC is strategically positioned to cater to the growing global demand for green technologies in the shipping industry, and in addition offers sustainable solutions cross-industry, to date with customers in cooling applications, paper, beverage, and dairy industries. Through their efforts, the Company aims to drive transformation in the shipping and industrial sectors, contributing to a greener and more sustainable world, guided by their core values of commitment, reliability, responsibility, and loyalty.

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The information contained in this section of the website contains information relating to an offer from [Company Name] (the “Company”) to the public to subscribe for Swedish Share Depositary Receipts in the Company in connection with the admission to trading of the Company’s Swedish Share Depositary Receipts on [Stock market] in Stockholm. This information may not be accessed by residents of certain countries based on applicable securities law regulations 

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