Techcross Reports Strong Start to 2023
South Korea-based Techcross reported it has started off 2023 strong with its first order in a new business area.
The company, widely known for its ballast water management systems (BWMS), in 2022 expanded its product lineup to include a tank level gauging systems (TLGS ) and valve remote control systems (VRCS). The company also rolled out an IBTV (Integrated BWMS/TLGS/VRCS), an IoT-applied control platform that can integrate all the equipment for optimal operation, and service software called Techcross Smart Platform.
The company announced this week it has secured its first order for the IBTV this year. The items contracted are expected to be installed in a demonstration vessel of a research institute in Korea in July 2023.
"By integrating the separate equipment and tools needed for a BWMS, which used to be purchased, installed and operated separately, IBTV allows the supply, installation, operation and maintenance of the equipment to be handled all at once," Techcross said.
Techcross added it has also received an order for its alternative maritime power system (AMP), with delivery delivered scheduled for April.
Techcross said it entered this new area of business in response to the recently reinforced environmental regulations worldwide. Globally, air pollution in the port receives much attention to the extent that some ports in the United States and China ban the use of a generator in a vessel at berth. Korea so far only recommends using a power supply system from the shore, but recently, many started responding actively to global environmental regulations by installing an AMP system.
In 2022, Techcross achieved sales of over $220 million (280 billion KRW), recording its highest gross sales since its foundation.