In November 2017, Turkven acquired a 60% stake in Vansan Makina, a family-owned water technology company based in Turkey.
Turkven worked with the founders to drive innovation, sustainability and efficiency. The company saw an opportunity within the geothermal industry, in the lucrative and technically demanding water extraction segment, and developed new products including a special purpose line shaft pump and a permanent magnet motor. These innovations resulted in more affordable, energy efficient solutions with a 10% reduction in electricity consumption.
Turkven also prioritized growing the company’s export markets. By the first half of 2020, Vansan was selling its products to 70 countries, up from 50 in 2017, and expanded its reach as far as South America.