By announcing revenues of around €45 mill in fiscal year 2024 and an annual growth rate (CAGR) of 30%, Vanzetti Engineering is increasingly becoming the cryogenic pump OEM benchmark at an international level, the company claimed.
In 2024, 70% of the company's business was concentrated in the Asian market and the remaining 30% in Europe, with a specific focus on the marine and biogas sectors.
Marine fuel gas system (FGSS) solutions achieved greater success on the market in 2024, in particular the ARTIKA series of submerged cryogenic pumps and the VT-3 duplex high-pressure reciprocating pumps.
“I am delighted to confirm that in 2024 we have again achieved all our major corporate goals. This new milestone was possible thanks to the development of the marine market, supported by long-term partnerships and solid relations with all Asian and European stakeholders, thus strengthening our international presence as a cryogenic pump OEM in diversified sectors,” said Valeria Vanzetti Ghio, sole Director of Vanzetti Engineering.
“The company is investing significant resources in the development of sustainable technologies for the future, in line with its mission, in expanding design and production capabilities, as well as enhancing organisation to meet future challenges, providing customers and end users with quality and reliability throughout the product lifecycle,” she said.
Despite the downturn in the automotive LNG market in Europe, which is temporarily held back by the LNG price, due to the current geopolitical situation and the incentive policies for electric vehicles (EVs), Vanzetti Engineering said it is confidently looking ahead to new projects in the pipeline this year.
Among these are the design of a new family of retractable pumps, which places the company in a position to seize emerging opportunities in the small-scale LNG terminal market, as well as access to new segments of the marine dual fuel market through the strengthening of its high and low pressure pump range.
On the operational side, 2024 saw the completion of production capacity expansion and the start-up design of new test benches for the company’s product range future developments.
