Icarus Group: The right choice for the economical repair-maintenance of industrial components

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Efthyios Revenas (29 years old)
Industry: Industry – Icarus Group

Innovative solutions for the maintenance of industrial components (pipes, tanks, etc.) with the use of advanced materials, aiming at low cost and high quality, are provided by the Icarus Group. Theis and Joshua Zwetsloot met in the United Kingdom, where they worked together in the Oil & Gas industry. Then they identified the huge problem that many industries faced in terms of maintaining their fixed industrial components. So, they founded the Icarus Group (based in the UK), which started as a startup in the Industrial and Material Engineering company, in February 2020, with its entry into the EGG Incubator / accelerator. This year it was distinguished in the competition for start-ups of MIT Enterprise Forum Greece 2021, coming second in the field of Energy.

The goal of the Icarus Group is to provide the industrial industry with faster and more economical repairs, while focusing on the research and development (R&D) of new composite multilayer materials. At the same time, it is developing a standard complex repair design software. Its solutions focus on quick resins, which significantly reduce the time required for these repairs. As a result, it means faster repairs, fewer layers of composite material, reduced labor costs and saves money for its customers. Its software allows it to do faster Engineering Studies. At the same time, it enables its customers to check for themselves, at the touch of a button, whether the engineering calculations meet the international ISO-ASME standards and to order the materials needed for repair. Although the Icarus Group has accepted funding proposals, it has so far remained self-funded. Despite the fact that most of its projects are in the R&D stage, it closed last year with revenues of 20,000 euros.

Efthyios, who serves as Chief Operating Officer at Icarus Group, is a graduate Oil and Gas Engineer (former TEI AMTH). He has extensive work experience in Management and Engineering in the field of energy and materials, having worked in six countries. In February he completes his Master at the University of Patras in Technology and Science of Multilayer and Composite Materials.

Josh (British – 27 years old) holds a Master of Engineering from the University of Bristol, also with extensive work experience in the field of energy and materials.

Methodology: Out of the more than 100 nominations collected by “Forbes” – either through applications of the interested parties themselves or through proposals from institutions and competent bodies – the editorial team made a first selection and came up with 50. The jury, which consisted of Mr. Spyros Theodoropoulos (CEO of Chipita), Nikos Karamouzis (former President of Eurobank and the Hellenic Banking Association, President of Grant Thornton), Michalis Bletsas (Director of Informatics at MIT Media Lab), Theocharos Filipos Capital.gr, president of Attica Publications), evaluated the 50 candidacies with scores from 1 (lowest) to 4 (highest), based on which the final ranking was formed. The order of publication is defined according to the members’ rating (from highest to lowest) and then alphabetically. Conditions for participation in the list “Forbes 30 Under 30 Greece 2022” were met by those born from 1/1/1992 onwards.

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Source: Forbes

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