Anodox prepares for accelerated growth in 2022

Posted on 2nd January 2022 by Alexander Wilson

GOTHENBURG: Anodox, the ambitious supplier of energy systems for mobile and stationary applications, finished 2021 with an order book that will make 2022 by far its fastest growth year in its history.

Anodox launched in 2015 as an engineering and business consultancy providing critical services to a number of automotive marques. A significant proportion of contracts in the first five years were supporting challenging electrification initiatives.

In 2020, Anodox started a pivot and aimed to turn itself into a turnkey energy systems supplier. The value proposition was extended to include design, development, manufacturing and after care.

With this change in focus, Anodox has won contracts to supply over ??? GWh of Li-Ion batteries. Its order book is particularly strong in niche automotive segments including trucking and racing.

In 2021 growth occurred throughout the organisation and critical investments were made within engineering, technology, product and marketing. The company continues to hire across all roles and offices. Theo Zannakis CEO said

2021 was a dynamic, fast-paced and exciting year at Anodox. I couldn't be more proud of the team for delivering on our mission to improve the energy systems market for mobile and stationary applications alike. We are grateful to win contracts to supply batteries to some exciting projects. The 2022 outlook is one of optimism for our customers, our partners, and Anodox. We look forward to another banner year ahead.

The pivot to provide turnkey solutions was effectively launching a new business. Anodox’s leadership team had to organise and implement the various pieces needed for success (e.g., people, money, technology, and so on) with limited resources and whilst completing important consulting assignments.

This period was fuelled by a lot of energy and ambition but it was also underpinned by a level of structure and focus that is often missing in startup organisations.

Things are now moving forward at Anodox but to fulfil its full potential new structures, processes, people and technology are needed. Adding these pieces while sustaining the core company culture and vision requires patient and systematic leadership. Tom Walsh, Board Member and CSO said:

The organisation has begun to hit its stride, and the hard work of scaling up has begun. All the ingredients necessary to rapidly expand the business are being put in place.

2022 has started with Theo Zannakis, CEO painstakingly cultivating awareness of the need for change. He chaired planning workshops with management to solicit diverse opinions, promote shared diagnosis and encourage benchmarking. He commented:

In pivoting Anodox my role was that of an action hero. In leading the firm through a period of accelerated growth, my style as CEO will be more like a steward. I will help the management team get needed resources quickly. Clear, measurable and attainable goals will be agreed across the whole organisation. I will seek guidance from both internal and external advisors at strategic breakpoints. Most importantly I will help the team stay focused and empower them to soar with their strengths.

Anodox needs the investment necessary to support growth, as well as support for putting in place needed systems and structures. Therefore, a critical target for Q1 2022 is to prepare an investor prospectus and launch a fundraising campaign. More details will be announced in February 2022.