After more than 50 years in the European market, a French energy technology company has opened its North American headquarters at St. Petersburg-based incubator spARK Labs by ARK Invest.
MADIC Group leaders came together Thursday for a ribbon cutting ceremony to celebrate the occasion.
The organization develops intelligent solutions for the automotive energy sector, unattended payment systems and digital technologies. These include electric vehicle charging stations and hydrogen and natural gas refueling equipment.
It has had a presence at spARK Labs by ARK Invest since October. The facility is also home to the company’s regional research and development operations and support center.
MADIC Group previously had an acquisition in North America, but it did not work out long-term, Raphael Rivera, U.S. executive vice president of strategy and business development, explained to the Catalyst.
However, the team was committed to expanding into the U.S. and Canada. This led to a vast search for a dedicated headquarters. Additional areas that were explored included Atlanta, Houston and Jacksonville.
The goal, he said, was to find the “best fit culturally and technologically.”
MADIC Group CEO Fabrice Chapelain added that the proximity to the Tampa International Airport and local universities played a role as well. The team reached out to the St. Petersburg Economic Development Corporation (EDC) and collaborated with the organization during the process.
MADIC Group representatives with St. Petersburg Economic Development Corporation, spARK Labs by ARK Invest and St. Petersburg Chamber of Commerce leaders at the Thursday ribbon cutting ceremony.
“It’s amazing that we have been able to land a company of this caliber,” St. Pete EDC president and CEO Mike Swesey said. “It has approximately 1,400 employees in Europe and we hope that some day MADIC Group will be at that same level here in the Americas.”
While the new office will focus on sales and marketing, he explained, the St. Pete EDC plans to help the business create a manufacturing facility in the next 3 to 5 years.
“The challenge first and foremost is to adapt products to the U.S. market,” Chapelain said. “So, there is a lot of work to do. We are going to need certification and that takes time.”
He hopes to launch products by the end of the year.
“This represents a significant beginning of a new era where not only are we supporting very early stage technology companies,” said spARK Labs by ARK Invest CEO and president Becca Brown, “but companies that already have a strong presence in other markets are choosing to be a part of us and our community.”
MADIC Group will participate in spARK Labs by ARK Invest’s incubator program. “Our model is not one size fits all,” she added.
Brown and her colleagues work with each member individually and create a customized support playbook based on the company’s goals. “We will have those conversations with the team in the coming weeks so that we can best position ourselves to support their objectives.”