As seen on RoofersCoffeeShop.com, 18 June 2020
Stormseal® has been ranked #5 in the Asia Pacific category on Fast Company’s prestigious annual list of the world’s Most Innovative Companies for 2020.
The list honors businesses making the most profound impact on both industry and culture, showcasing a variety of ways to thrive in today’s fast-changing world. This year’s list features 434 businesses from 39 countries.
Managing Director and Stormseal inventor, Matthew Lennox, said he was thrilled to be ranked so highly and it reflected the enormous impact Stormseal has had on Australian / American / UK businesses and communities over the past year.
Stormseal is a recyclable, lightweight polymer film, heat shrunk to a damaged property and is hail and wind resistant and watertight. Unlike tarpaulins, which on average break loose and fly away up to six times, Stormseal can stay put over a year, resisting all weather until permanent repairs can be made.
“This year we’ve already helped protect numerous homes and buildings after extensive hail damage, including iconic landmarks such as The Australian National University (ANU), the Ian Potter House at The Australian Academy of Science, The National Film and Sound Archive’s 1930 heritage-listed Residence building and the Papua New Guinea High Commission,” he said.
“This is the first time that we have fitted Stormseal at such a scale and on such major buildings,” he said.
“Last year we helped the Bahamas recover following the devastation of Hurricane Dorian, which was the most powerful Atlantic hurricane in history. Stormseal has also recently been assisting communities in and around the Nashville area recover from severe tornado damage.”
Stormseal was also awarded first prize for Global Social Impact in the Australian Technologies Competition last October.
The award submission included a United States’ example in Mexico Beach where a property was protected by Stormseal for 11 months following Hurricane Michael, providing residents with peace of mind whilst they awaited repairs.
Stormseal is now growing fast across both Australia and the US, with more than 9,000 properties successfully sealed since 2016.
The World’s Most Innovative Companies list provides both a snapshot and a road map for the future of innovation across the most dynamic sectors of the economy.
“At a time of increasing global volatility, this year’s list showcases the resilience and optimism of businesses across the world. These companies are applying creativity to solve challenges within their industries and far beyond,” said Fast Company senior editor Amy Farley, who oversaw the issue with deputy editor David Lidsky.
The idea for Stormseal first came to Mr Lennox when he was overseeing repairs on behalf of several insurance companies after the 2007 Sydney storms where he saw damage claims multiply fourfold due to failing tarpaulins.
He found this was true for large storms globally, such as the Sydney 2018 hail storm where initial reports estimated the loss value at $150m but the final cost was $1.3B. Likewise, following Hurricane Michael in 2018 in the US the initial estimate was $3.5B while final claims totalled more than $8B.
“Unlike flapping, leaking tarps – which usually require multiple reattachments, using ropes and sandbags – Stormseal stays put, significantly reducing expense and minimising stress on householders,” he said.
“Severe storms are frequent world-wide, damaging property, interrupting business, traumatising residents, stretching emergency resources and costing insurance companies billions. Our technology is helping stop further damage and reduce the trauma and costs for all concerned,” he said.
For information about Stormseal and how to become an installer, click here.
Stormseal media contacts: Tim Highley 0406 687 744 or Matthew Lennox 0405 017 770
About Fast Company
Fast Company is the only media brand fully dedicated to the vital intersection of business, innovation, and design, engaging the most influential leaders, companies, and thinkers on the future of business. Since 2011, Fast Company has received some of the most prestigious editorial and design accolades, including the American Society of Magazine Editors (ASME) National Magazine Award for “Magazine of the Year,” Adweek’s Hot List for “Hottest Business Publication,” and six gold medals and 10 silver medals from the Society of Publication Designers. The editor-in-chief is Stephanie Mehta and the publisher is Amanda Smith. Headquartered in New York City, Fast Company is published by Mansueto Ventures LLC, along with our sister publication Inc., and can be found online at www.fastcompany.com.
Fast Company’s Most Innovative Companies issue (March/April 2020) is now available online at fastcompany.com/most-innovative-companies/2020, as well as in app form via iTunes and on newsstands beginning March 17, 2020. The hashtag is #FCMostInnovative.
Fast Company’s editors and writers sought out the most ground-breaking businesses on the planet and across a myriad of industries. They also judged nominations received through their application process.