Header Axes With Pins Cropped
  • Invest
  • Innovate
  • Internationalizing

NOM results 2018: Impact in the Northern Netherlands

NV NOM, the investment and development company for the Northern Netherlands (NOM), looks back on a good year. In 2018, 74 projects and initiatives in which we participated were successfully completed. As a result, the 81 companies involved created 512 new jobs and invested €781 million. NOM presented its 2018 annual report today. NOM itself posted a profit of 662 thousand Euros in the past year.

These results have been achieved partly thanks to close cooperation with municipalities, provinces, knowledge institutions and many other parties in and outside the region. NOM is convinced that this cooperation, which has also proven itself in 2018, provides answers to societal challenges and contributes to a robust northern economy. Innovation and growth are key concepts in this regard. Based on this objective, NOM encourages cooperation among companies and between companies and knowledge institutions. NOM's contribution further lies in (co)funding that growth and innovation. NOM also interests national and international companies in establishing themselves and growing in the northern Netherlands.

Siem Jansen, who will soon be stepping down as director, on the result: "I am pleased that we have achieved good results again this year across the full breadth of NOM. With this I can conclude with a good feeling, and also with pride, a special period of 12 years at a wonderful organization."

NOM's commitment in full

In 2018, NOM was able to realize several successes, combining its various disciplines efficiently and effectively. Notable examples are the establishment of Purified Metal Company in Delfzijl and of Carver in Leeuwarden. In both cases, finding a suitable location went hand in hand with setting up a good funding arrangement. In the Flinc program, start-ups are supported and NOM applies various areas of expertise. Ongoing innovation of production processes at Technologies Added in Emmen is leading to the possible establishment of several promising startups.

NOM has also been able to make an important contribution to a number of successful, long-term programs such as Chemport Europe and Region of Smart Factories.

Chemport Europe

The Chemport Europe program aims to grow the chemical sector in the northern Netherlands and make it completely CO2 neutral in the long run (2050). Chemport Europe has undergone significant development in the past year. A concrete result is the establishment of a pilot plant of Photanol and of Avantium in Delfzijl and the realization of a pilot installation of Bio-BTX on the Zernike Campus in Groningen. In Emmen, hard work is being done to build an infrastructure around recycled plastics.

Region of Smart Factories

Region of Smart Factories (RoSF) is the program in which 40 renowned companies and institutions from the Northern Netherlands are jointly developing the "Factory of the Future. The focus is on developing intelligent, connected and customized products and production processes. Part of it is Smart Industry Assessment, which allows SMEs to assess online how 'smart' their products and processes are. State Secretary Mona Keijzer of Economic Affairs and Climate granted this Smart Industry Assesment national status during the Hannover Messe. This recognizes this Northern Netherlands initiative as leading in our country. There is a lot of attention outside the region for RoSF.

Within RoSF, more and more technology and knowledge is now being successfully developed and marketed. Technology suppliers in the program also offer the developed technology outside the project and are achieving good results. From RoSF, together with other Smart Industry Fieldlabs in the Northern Netherlands, a Digital Innovation Hub is currently being prepared. The intention is to roll out the principles of Smart Industry to SMEs in the Northern Netherlands.

Trends and developments

In general terms, NOM notes that 2018 shows a trend that started earlier and is becoming increasingly robust. The economy in the Northern Netherlands is developing more emphatically along a number of interrelated themes: strengthening the manufacturing industry, sustainability, more efficient use of raw materials, CO2 reduction, smart and digital.

In 2018, NOM began discussions with shareholders about a multi-year plan for 2020-2024. The focus will be on the above themes. This is also in line with the choices made by the Ministry of Economic Affairs and Climate: mission-driven innovation focused on societal challenges and key technologies. This objective is in line with the Sustainable Development Goals formulated by the United Nations. These talks are constructive and take place in a positive atmosphere.

Financial results

NOM was able to close the year with a positive result of 662 thousand Euros. Of course, it is important for NOM to achieve a positive financial result over the long term. For an investment company, the financial result (in addition to interest and dividend income) is generally highly dependent on the realization of exits: selling interests we have in companies. At what times these exits occur is uncertain. NOM is expected to provide risky funding, and that too causes fluctuations in the result.

The full annual report can be viewed at the this link.