THERMOWATT HAS SUCCESSFULLY FINISHED ITS PROJECT SUPPORTED VIA THE HUNGARIAN WATER SECTOR DEVELOPMENT FACILITY
Owing to the accomplishments of its project launched on the 1st April 2019 via the Hungarian Water Sector Development Facility’s 2019 edition, Thermowatt Ltd. has now the ability to begin its valid conquest of identified foreign markets having detailed and high level, relevant market knowledge, market research including potential partnerships and investment locations, moreover revived promotional marketing tools at its disposal.
The funding pillar of the project was the analysis of those target countries where the Thermowatt technology has recently acquired European patent protection. Guided by the study Thermowatt Ltd. can set up its strategy for a targeted, efficient and fruitful external market development progress. Considering the numerous countries to be examined a two-level analysis became essential. In the first phase a pre-market research (market filtering) took place subjecting the 34 countries concerned. For this a comprehensive test matrix was assembled according to carefully sorted criteria, in the matrix the necessary boundary conditions for possible realisation of the Thermowatt technology are featured as variables. Determining the examined variables as well as systematization and interpretation of the available big data could only be completed with the close cooperation of the experts at Thermowatt Kft and the contracted specialist market analyst team, along their constant reviews and fine-tunings.
The quantitative matrix consist of such variables, that are typically available in international databases worldwide for most of the countries thus beyond the pre-filtering of present 34 European countries the established system can become a significant aid for Thermowatt when preparing decisions about future foreign market expansion endeavours.
From the target countries of the project during this first phase of the analysis and with the application of the matrix there have been 10 countries of optimal characteristics selected at first. However due to the high resource intensity of expanding abroad, based on further country-specifications (urban population, population density, cooling-heating energy sources, market environment, etc.) the country assortment was further screened ending up with a selection of 5: the forthcoming focus countries of Thermowatt Ltd.
Where are the company’s next big steps leadinig then? Towards Austria, France, Sweden, Serbia and Slovakia!
Aiding the preparations for successful market entry in these selected countries, during the second phase of the market research detailed examination, deeper country-analysis were concluded. All essential and fundamental information with strong relevance to the subject market and sewage-based technologies (such topics as thermal energy market, relevant legislation, national goals and strategies, announced indicators, actions, available financial assistance related to EU climate targets, construction industry trends, features of the sewage networks, etc.) have been collected, organised studied and explored. Moreover potential counterparties, attainment of the investment locations of the highest possibilities and the most favourable market conditions fitting the technology by nature were all successfully identified through the work put into the deep country-analysis.
The company through the successful outcome of the project titled „Investigation of new market opportunities for Thermowatt and its proprietary sewage heat utilising technology” and supported by the Ministry of Foreign Affairs and Trade of Hungary and via the Hungarian Water Sector Development Facility, has armed itself with the proper knowledge and instruments: reinforced by the resolutions of its market research and with an impressive technology promoting short video, leaflets to back it up Thermowatt can begin marching towards its selected European markets with great confidence.
Check out the new image intro video here:
The project was supported by the Ministry of Foreign Affairs and Trade of Hungary via the Hungarian Water Sector Development Facility.
The content of this article does not necessarily represent the official standpoint of the Ministry of Foreign Affairs and Trade of Hungary.