Evanston, IL and Cambridge, MA, July 22, 2024 –
QuesTek Innovations, the primary operating arm of QuesTek International LLC, today announced key strategic results for the first half of 2024, ending June 30. Among these results were: additional subscriptions for QuesTek’s ICMD® Materials Design and Engineering SaaS platform; completion and new signings of corporate and federal Materials by Design® services engagements; and industry awards recognizing company excellence. By mid-year 2024 QuesTek achieved important fulfillment outcomes in its multi-year transition to a Digital Materials Technology enterprise, and significantly enhanced its position as a privately held, cash generating, debt-free, and strategically advancing technology business.
Corporate clients engaged during the first half included Boeing, CBMM, Cummins, Finkl Steel, Honeywell Aerospace, John Deere, Leilac, Lockheed Martin, Northrop Grumman, and Stoke Space. New ICMD® subscriptions and associated services were secured with Blue Origin and Aubert & Duval, joining prior ICMD® subscriptions with MIT, Daido Steel, and with QuesTek’s affiliate, QuesTek Japan. A joint venture with CTC-Itochu, QuesTek Japan is using ICMD® to efficiently deliver services engagements, just as QuesTek Innovations uses ICMD® internally. In this fashion, QuesTek Japan is fulfilling services engagements with MHI and Nippon Steel.
Federal clients incrementally served in 1H 2024 included the Army, Navy, Air Force, NASA, DoE, and ARPA-E. For the Army, QuesTek continued to demonstrate its capability to build and manage custom supply chains to deliver operational prototypes with mission superiority based upon applications of QuesTek proprietary materials. QuesTek also commenced engagement as a subcontractor to LIFT through ATI to deliver additional advantages to US warfighters in the form of an ICME framework for naval applications.
QuesTek formalized strategic partnerships with both Ansys and Materials Design, enhancing capabilities that serve our clients. QuesTek also received recognition as a RealLeaders Top Impact Companies ranking in the top 10 for both manufacturing and technology, Chicago’s Best and Brightest for the second year in a row, and TechRound’s Sustainabilty60. ISO 27001:2022 certification was achieved as a result of rigorous dedication to the security of customers and partners.
“QuesTek is achieving its strategic goal of growing corporate revenue through our digital transformation. By adding ICMD® to our services offerings, QuesTek achieved 55% quarter-over-quarter corporate bookings growth in the first half,” said COO Bill Mahoney. “These near-term results are evidence that QuesTek is strongly fulfilling its strategic plan thus far in 2024.”
About QuesTek
QuesTek empowers innovators by resolving materials-based challenges. QuesTek is both a pioneer and current market leader in Integrated Computational Materials Engineering (ICME). QuesTek’s Materials by Design® technologies have enabled new products and new thresholds of performance across a wide range of industries including aerospace, automotive, medical devices, consumer electronics and luxury goods. QuesTek’s ICMD ® SaaS offering has packaged QuesTek’s IP and know-how into a client-accessible software platform for the first time. QuesTek Innovations is the primary operating subsidiary of QuesTek International LLC and is headquartered in Evanston, Illinois. QuesTek has additional locations in Cambridge, Massachusetts; Solna, Sweden; and Tokyo. questek.com
For more information, please contact Andie Metzler, ametzler@questek.com