Can you speak to the change in the industry as to what has been driving demand over the past few years?
Changing demands are a big opportunity for Atlas Copco, but also a huge responsibility towards the next generation. We are focused on delivering to market needs - what are the technologies that will bring the world into a better or a net zero situation – and try to position our products to fill gaps.
The wind power industry is an increasingly growing sector for us where we offer bolting solutions, electric and battery tools for manufacturing, grinding of propeller blades, tower construction, commissioning and maintenance. The solar energy sector also plays an important part in our business, and we develop optical inspection systems for complete quality control of solar panels, and are developing the next generation vacuum pumps for efficient solar cell production. We also offer battery technology solutions for the transport industry and battery manufacturers. Machine vision is also a very exciting field for Atlas Copco as it complements our automation and robotic solutions for manufacturing. We have leveraged our years of experience in hydrogen compression and our compressors and boosters are engineered to rise to the challenges of clean hydrogen production in a move away from fossil fuels. We also developed low pressure compressors which form part of the process of removing bacteria from water to purify and clean it. The company also recently acquired a company that removes sludge to make biogas. As you can see, Atlas Copco has been actively building out our product portfolio over the last few years to offer more sustainable and efficient technologies and solutions to the market.
How has Atlas Copco managed to achieve very impressive Q2 results considering difficult supply chain challenges we have experienced globally?
We have long standing relationships and long term contracts with our supplier base which has helped us to mitigate some supply chain challenges. We are also focused on constantly bringing new innovations to our customers that can really add value. When we launch a product, we ensure that it is significantly better than past generations or competition generations.
What are the main challenges for clients in achieving their ESG targets, and how can Atlas Copco support them with this regard?
Companies have realized the importance of ESG for both attracting talent as well as investment, and are now focused on sustainability not just to tick a regulation compliance box, but to actually make a difference.
Atlas Copco has set Science Based Targets to reduce greenhouse gas emissions in line with the goals of the Paris Agreement. Our innovations are focused on both cost and energy efficiency, and in developing energy efficient products, we can help our clients in reducing their CO2 emissions and reaching their sustainability targets.
What do you believe will be the main challenges and focus areas for Atlas Copco over the next five years?
Our success is based on innovation, interaction and commitment, where many small actions contribute to the greater whole. We have the constant challenge to attract not only talented people, but people with a drive to succeed and which fit into the performance culture of our company. We will continue to have a focus on innovation, and with the right products and right people, I believe we will be sustainable and be able to handle any challenge coming our way.
The drive towards a more sustainable future is a big opportunity for us and our commitment to innovation and technology makes us an attractive employer for younger generations entering the talent pool. Considering global supply chain challenges impacting on many businesses, we will remain focused on building an agile organization which can deliver to the needs of the market on time.
What is your outlook for the future of hydrogen?
I do not believe that cars will be a big hydrogen market, but the trucking industry and steel industry might become huge consumers of hydrogen. For Atlas Copco, it will be beneficial to see more green hydrogen being used in the transport sector as we move a significant number of products globally and this will help us in reducing our CO2 emissions throughout our value chain.
Do you believe we have the tools and the commitment to reach energy transition targets set for the coming years?
Renewable energy technologies such as wind and solar are already quite advanced, but to reach our transition targets we will need to focus on the development of energy efficient solutions, such as more efficient heat pumps or compressors. The technologies are there to support the transition and I believe it’s now mainly a question of making sure the mathematics works as well.
