North Tyneside subsea technology and services company SMD has officially opened its third facility in the region following a £3m investment.
The offshore specialist announced plans last year to create a new base from which to expand further into the wider renewables markets, having worked in the oil and gas markets for 54 years from Wallsend’s Turbinia Works. Now the company, which last year launched a new distribution facility at New York Industrial Estate, has opened SMD Tech Works, based at Neptune Energy Park on the River Tyne.
The centre is dedicated to underwater technology development and innovation, spread across almost 20,000 sqft of space, for a growing order book. Directors said it enables the business to continue efficiently delivering pioneering subsea solutions to clients around the world.
Mike Jones, chairman at SMD, said the investment builds on SMD’s strong heritage in the North East, where it now employs over 300 staff.
He said: “SMD Tech Works is a milestone investment for us and the region. This facility reflects our continued growth as we surpass a headcount of 300 and pursue our target of £150m turnover by 2030. Over the years, we have brought 12 world-first technologies to market, and this new space will ensure we remain at the forefront of subsea innovation.
“Importantly, it also strengthens our connection to the North East community, helping us create valuable career opportunities for local people, support skills development, and contribute to the clean energy supply chain.”
The new facility will house SMD’s innovation division, including a test tank and development laboratories specially designed to accelerate research and development efforts and power future technological advances. Its location on Shepherd Offshore’s Neptune Energy Park also cements the area’s role as a nationally significant energy and engineering hub, which supports over 4,000 jobs.
Bruce Shepherd, chairman of Shepherd Offshore, said: “We are delighted to welcome SMD to Neptune Energy Park. The decision to invest here is a strong endorsement of the River Tyne’s world-class reputation and the opportunities this region offers. At Shepherd Offshore, our focus has always been on creating the infrastructure, skills, and partnerships that enable businesses to thrive.
“SMD’s presence will not only support job creation and innovation but will also strengthen the North East’s position at the forefront of the offshore and subsea industries. We look forward to working closely with SMD as they continue to grow and succeed on the Tyne.”
The facility was officially opened by North East Mayor Kim McGuinness, who added: “The North East will be the home of the green energy revolution, creating thousands of highly skilled jobs for our communities.
“Investments like this from SMD show the potential within the green energy sector in the North East, and will pave the way for more innovative developments and world firsts to be developed right here in Wallsend, putting our region on the international map. It was fantastic speaking to apprentices from Walker and Wallsend who show that this sector is creating opportunities for local people, just a stones throw from this brilliant new site.”
Earlier this year the firm released results, which showed revenues climbed to £76.5m last year, up from £55m the year before, while pre-tax profits leapt from £1.48m to £4.79m.
