Rackam: When Economics Rhymes with Ecology
Company : Rackam
Region : Estrie
Program : Quebec Economic Development Program (QEDP)
Financial assistance helped with : the company’s start-up and innovation marketing.
Some companies choose to start up in the field of sustainable development and clean energy. Rackam, a new company in Sherbrooke, is one of them. Specializing in solar energy, they have managed to prove that ecology goes hand in hand with economic development.
With their patented technology, Rackam provides their clients with powerful solar energy solutions that are geared to the capacities and requirements of the industry. That technology not only enables industries to reduce their production costs, but also provides them with the possibility of decreasing their dependence on fossil energies, which are harmful for the environment.
There right from the start
Confident in the promising prospects of this new company and in the very nature of their project, Canada Economic Development for Quebec Regions (CED) supported Rackam’s start-up in 2012.
CED’s contribution enabled the company to acquire equipment and implement their marketing strategy. This was how the company was able to hire staff and boost their presence at fairs and exhibitions, including internationally.
Innovation is central to their business plan
Founded in 2006, Rackam focussed their efforts, during the first three years of creation, on researching and developing a powerful solar energy system. Their efforts resulted in the finalizing of the S10 and S20 solar collectors (a technology called concentrating solar power or “CSP”). These collectors concentrate the sun’s rays on a target in order to concentrate its temperature. That thermal energy is then collected and transferred to industrial processes that require high-temperature heating, such as what is found in the agri-food industry or the pulp and paper industry.
In order to publicize this technology, Rackam signed an agreement in 2011 with Laiterie Chagnon for introducing a technology showcase in Waterloo, Montérégie. The highly successful project enabled the company to earn two grand prizes in 2012 from the Association québécoise pour la maîtrise de l’énergie (AQME).
Not resting on their laurels by any means, Rackam began breaking into international markets, where business opportunities are promising, especially in the Mediterranean region. This was how the company secured a contract with a chip factory in Spain, for deploying their S10 system. They then completed a project in Portugal for meeting the needs of a sauce pan manufacturer. Since then, Rackam has signed two other projects, in Morocco and Greece.
It is by combining vision, innovation, expertise and entrepreneurship that promising projects can become a reality. Rackam is the proof that industrial companies can set themselves apart through solutions that are both environmentally responsible and profitable. Clearly, their team’s hard work is paying off: today, the company is an example of successful globalization.
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