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– We decided to diversify our market by transferring technology into other business areas

By Annie Korsmo|Published 15 June 2021|Category: News, Valley Voice

Valley Voice – a column where our cluster members are in focus. This week we had a talk with CEO of Fosstech, Steven Foss. Foss states that the most challenging part of the future will be the ability to adapt fast when the market changes. 

1. What are you doing right now?

Fosstech is setting up a new business area, “ Service and Aftersales “, world wide for electro-mechanical products, mainly the Maritime market. We are hiring some really skilled colleagues, making the Fosstech Team even stronger!

2. How is Fosstech contributing to the energy transition?

Fosstech have had a strong position within the Oil & Gas market, especially seismic. After the Oil crisis in 2014, we decided to diversify our market by transferring technology into other business areas and with a fous on a “green footprint”.

Today, our customers are within the maritime, defence, aquaculture/fishery and infrastructure. We have also developed 5-6 products of our own.

3. What are the biggest challenges and opportunities in the future?

The ability to change fast when the market changes!

4. What keeps you awake at night with regards to the energy transition?

Not much really, I think Fosstech already have made necessary changes to meet the future!

5. What is most valuable about being a member of Energy Valley?

The networking and meeting people from different markets, learning new ways of doing things, and be able to understand where the market is heading.

6. Is there any book that has inspired you in the way you lead?

The Book of “ Zlatan “, Never give up, Work Smart and Harder !

7. Which Energy Valley member do you want to pass the baton on to?

Kristiansand Skruefabrikk ( KSMV ) AS, CEO Frode Bjørntvedt.

Thank you, Steven!