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Since its breakthrough in 2018, the curve has only pointed upward for the Norwegian Trondheim-based company, Aziwell. Groundbreaking technology and the right mix of people are some of the reasons for its enormous success.
The high-tech industrial company Aziwell has been awarded «International Company of the Year» at Global Business Day 2025. The award is given in recognition of the company's impressive growth and success in the global market for drilling technology.
«We're proud to represent Norwegian technology internationally, and this award is a testament to the hard work our team has put in over the past few years,» says Aziwell CEO, Nils Ivar Klinge Iversen.
«We are very proud of this accomplishment. For us, this award is more than a nice acknowledgment – it's also a great way to attract new talent as we progress further. We're always on the lookout for skilled and innovative engineers,» adds founder Eirik Borg.
The jury's reasoning
- Aziwell AS has established itself as a leading international player through innovative drilling technology developed in Central Norway. With unique solutions for directional drilling, the company has set a new standard for efficiency and precision in the industry.
- From its headquarters in Trondheim, Aziwell has combined high technological expertise with strong export growth and financial profitability. They have successfully created local jobs while also achieving a significant presence in demanding international markets.
- Aziwell AS is a great example of how innovation from Central Norway can compete globally, helping to strengthen the region's reputation as an exporter of high-tech solutions.
Source: NIT (in Norwegian)
Where the adventure began
The adventure began in 2014 with the development of a control system for directional drills. This technology laid the foundation for the product, AZIDRILL®. The breakthrough came when the company got in touch with a gold mine in Colombia that wanted to test out new technology. This was the start of a series of successful pilot projects in Colombia, Mexico, and Canada.
«I had a lot of faith in the product and the technology, but I didn't exactly envision that it would grow to be as big as it is today. We just figured it out as we went,» the founder adds.
You have to have luck and perseverance to succeed. It was a lot of hard work and many late nights.
Eirik Borg, Founder
The company was also previously named a «Gazelle» company by the Norwegian business newspaper Dagens Næringsliv.
Local roots
As there's a very limited domestic market, Aziwell's business is almost 100 percent export-driven.
«I'm especially proud that we've managed to build an international company without external funding. The key has been profitable operations from the very beginning, combined with the right technology and the right people,» says Nils Ivar.
Even though their customers are international, Nils Ivar and Eirik are crystal clear about one thing: The headquarters will remain in Trondheim.
«For us, it might have been an advantage to be located in another country, but the dream is to create a major tech company that can stay here in the region. We want to show that it's possible to be an international leader with technology that is developed and made in Trøndelag,» says Nils Ivar.
«I'm a Trondheim patriot, and the goal for Aziwell is to become one of the city's biggest tech companies. We're not interested in moving our operations abroad as soon as we become successful,» Eirik chimes in.
Billion-dollar ambitions
The company develops all its hardware, electronics, and software at its facilities in Torgård, Trondheim, while the products are offered as a service, supported by field technicians at customer sites. Even though they've had immense growth in recent years, they still see significant market potential.
«We have ambitions for the curve to continue its upward trend, maybe not as steeply as it is now, but our growth is still above the industry average. Our niche market is increasing by 15 percent each year, and growth is strongly driven by market trends in gold, the green transition, and the West’s need for access to strategic metals,» says Nils Ivar.
«Today, only 4–5 percent of the world's exploration projects in the mining industry use directional drilling technology. Our goal is to significantly increase that share – also by introducing the technology to new industries like tunnel and infrastructure projects.»
«I think it's realistic to reach a turnover of a billion Norwegian kroner within the next ten years. We have several major new technology development projects underway that could potentially revolutionize the industry, so we'll see what we can achieve,» Eirik adds in conclusion.
