2025-02-28
2024 in Hindsight
Reflecting on the past year, I am delighted to summarize the significant milestones our company has achieved during what has been a particularly eventful and productive year. These include a strategic merger, welcoming new colleagues and customers, while also witnessing nuclear power gaining renewed confidence in the Swedish energy debate.
Strategic expansion of our organisation
One significant milestone of 2024 was the acquisition of the German camera solutions provider Visatec from the DEKRA group in December, which further strengthened our position in the industry. This merger unlocks new growth opportunities by combining complementary offerings, market segments and customer bases of ISEC and DEKRA Visatec (now ISEC Visatec), strengthening our global market presence. The ongoing integration of our teams is currently ongoing at great speed and positive energy.
Furthermore, we have grown our team by hiring several key personnel, including Johan Lindén, as the new CTO, David Ellis as our new Systems Project Manager and Michael Mcloughlin as Director of Business Development & Sales for UK. I appreciate to have them all on board. Each brings wide experience and networks, which further solidify our company’s position in the nuclear industry.
New orders and expanding global network
During 2024, we expanded our customer base and secured new orders worldwide. A major development was the contract we signed with NG Bailey for the SPRS Retreatment Plant (SRP) project in the UK. Under the contract we are delivering a turnkey CCTV system that will contribute to the safety and security of operations at the Sellafield waste processing facilities. Other new businesses and customers include the Department of Energy (DoE) in the US and our first major project in Korea for a camera system delivery for the KAERI research reactor in southeast Korea.
In 2024, we have focused on further building our connections globally. The ISEC team participated in numerous nuclear industry events and exhibitions throughout the year, where we engaged with industry peers and experts while showcasing our camera solutions. This has allowed us to build valuable business relationships worldwide, laying the groundwork for new orders in the years ahead. We have, among others, participated in the Big Science Business Forum in Italy, the GM 2024 – Remote and Automated Monitoring Systems Forum in Orlando, US, and the Nordic Nuclear Forum (NNF) 2024. During 2025, we will showcase a broader portfolio and expertise with our new colleagues at ISEC Visatec.
Renewed positive focus on nuclear power in Sweden
In 2024, the energy sector gained heightened attention, particularly with a renewed positive emphasis on nuclear power. Following the domestic electricity/energy crisis the last couple of years, nuclear power became a focal point of Swedish public and political debate as in many other countries in our traditional markets. This has led to a more favourable attitude towards nuclear power, presenting significant business opportunities for ISEC. Globally, we’ve also seen a similar shift in attitude toward nuclear power, resulting in increased investments in the nuclear sector.
Embarking on 2025 with momentum/enthusiasm
All in all, 2024 was a year in which we laid the groundwork for future growth with significant investments and new hirings. Looking ahead, I, together with my fantastic colleagues look forward to continuing the established path, harvesting the many opportunities derived from the merger, and further growing our business globally.
Moreover, we look forward to following the debate in Sweden and worldwide on nuclear power, its impact on investments and initiatives – and exploring how we can leverage this renewed enthusiasm in our home market and globally while continuing to strengthen our position in the supply chain.
Sincerely,
Fredrik Sjöholm,
CEO of ISEC Monitoring Systems & ISEC Visatec