Axioma Metering (Axioma) is known as a worldwide pioneer in the metering industry. First set up in 1992, the company began with the creation of an innovative ultrasonic heat meter; since then, it has gone on to develop and manufacture myriad ultrasonic heat, water metering, and data management Internet of Things (IoT) devices, with sales increasing exponentially over the last two decades.
Sitting down once more with CEO, Ignas Vosylius, we get an insight into the company’s growth trajectory. By the end of the year, Ignas expects turnover to reach a staggering 80 million euros – not bad for a company that, prior to its mass market expansion in 2019, was turning over an eighth of that. “I think we need to give props to the market and the people who are now paying more attention to the global problem of water scarcity,” he begins. “That has driven a majority of the demand, but then, of course, underpinning that is our innovative methodology.”
For Axioma, innovation is key; it is one of the core tenets driving growth. As a trail blazer, there is no alternative way of being. The new and the novel are fused to the company’s sense of identity.
“We have a long track record of creating specific solutions for persistent problems,” notes Ignas. “It can be something like investigating how to use ultrasound as a means of measurement. You see, we have the luxury to play around in numerous areas of interest. Combining a rich company-wide bank of knowledge and industrial expertise concerning niche segments and market trends puts us ahead of the competition.
“But make no mistake: our goal is not necessarily that of creating a new product that has never been seen before,” he goes on. “Rather, we want to implement good, innovative technology in a new way – one that will create a cost-effective and more accessible end product. People want innovation but without all the nonsense that can oftentimes be attached to it. Indeed, smart meters are installed in lots of different locations: all kinds of basements, inside, and outside in various environments.”
Consequently, to create professional, high performing products that work in a variety of settings, Axioma has invested significantly in automation. Ignas is keen to point out a core difference between his company and others.
“When people consider automating processes, it typically comes from an ambition to minimize the overall costs associated with manufacturing and production,” he explains. “Whereas, at Axioma, the more important goal for us is applying automated technologies that can perform operations otherwise impossible to manually carry out. The result is an increase in our standards and – eventually – our end product.”
Focus, dedication, and long-term planning are key – and no one knows that better than Ignas. He is a firm believer that, together, these are a necessary remedy to the ongoing issues concerning the supply of electronic components like semiconductors, which Axioma is heavily dependent on.
As Ignas informs us, the company was handicapped for almost a year, running at just under 20 percent of its full capacity. But that didn’t stop Axioma. “Though hampered, we refused to stop moving forward,” he says. “We ploughed on with an array of strategic investments. Yes, it was a painful financial period, but we knew it was a short-term problem. We didn’t want to just maintain our capacities, we wanted to double them.”
In October 2022, as Ignas mentioned, Axioma was running at a low capacity. But by putting this optimism and determinism into a practical action plan, the company managed to significantly turn the tables in just a matter of weeks.
November saw that figure rise to 50 percent and by the end of the year Axioma was back up to a 75 percent operating capacity. That’s a staggering increase in just three months. For Ignas, it was essential that the company maintained its quality standards during that period of flux.
“It has been a very intense and challenging time, and I am thrilled with the results we have seen. However, I am even more proud of our team, who accepted this challenge and put in huge amounts of effort, showing exemplary cooperation to make this happen. We have proven that with the right level of dedication we can conquer the most ambitious targets!”
Axioma has invested around 30 million euros so far into its factory, which was built back in 2018, effectively doubling its production capabilities. “A couple of months ago, we started construction on a new factory, which will be located in a neighboring lot; it will be twice as big as our current facility and will triple our total floor space,” reveals Ignas.
“We will begin with just one production line, but will soon equip it with four,” he concludes. “By 2026, the total investment value will sit at around 70 million euros; it’s all part of our growth plan. Indeed, within the next year, we are planning to quadruple in terms of volume, and we have put a very clear framework in place to achieve that. We are moving fast – hopefully we can catch up soon and tell you how we did!”