A Tees tech firm is forecasting a 10-fold increase in turnover as it prepares to launch an artificial intelligence system its directors describe as “the cutting edge of cutting edge”.
Stokesley-based Applied Scientific Technologies (AST) is currently preparing field trials that will see its custom-built robotic automated systems go into full production within months.
Just a year after launching, AST has already won orders from corporate global giants for a robotic scientist called The Hyve.
The innovative technology involved in the autonomous robotic system has meant that two of the same world-leading firms have helped to fund research and design.
AST’s first sale was to the European HQ of a multi-national cosmetics company who plan to roll out the The Hyve product across their global operations.
But global companies within the health care, pharmaceuticals, food and beverage, life sciences and personal and household care markets have also shown interest.
Now Applied Scientific Technologies is set to give The Hyve its European launch in September before launching to the rest of the world in 2019.
Along with staff at established sister company Applied Integration, AST’s directors are working with companies such as Siemens UK as their strategic partners.
Director Jamie Marsay said: “These world-leading firms have paid for The Hyve’s beta model so they can work on the field trials for this innovative new product, knowing there will be some teething troubles.
“Of course, they will reap the benefits and advantages in the finished product, which will be as much their baby as ours.”
AST plan to open a production facility for The Hyve in the Tees region within the next six months.
“I know this market well and it’s massive,” said Marsay. “I’ll be very disappointed if we don’t achieve at least a 10-fold increase in turnover by 2020 as we take the business to production scale.
AST is currently looking to recruit a multi-disciplined chief engineer and several apprentice engineers.
Marsay added: “Working at AST will all be about creativity and free thinking so that we give people the opportunity to succeed and to fail. We want them to be the vision, develop and drive forward some of the stuff that would be knocked back elsewhere because it’s not immediately commercial viable.
“We’ll have a culture and philosophy of always believing the impossible is possible, allowing a talented team of free-thinkers to thrive. Our job, as directors, will be to see which of their technological innovations we might be able to commercialise.”
Our BQ Bulletin emails will land in your inbox at 7.30am, Monday to Friday, with a mix of the latest local business news, national news, and features to inspire you. Sign up here!
Click here to read our privacy statement