Newcastle engineering firm BEL Valves has its sights on the hydrogen and carbon capture markets with the launch of a new department.
The Byker-based specialist in high integrity valves and actuators for subsea, surface and onshore applications says it wants to position itself at the forefront of the clean energy sector. Its new division will be led by business development director, Steve Carty, who wants to replicate the firm's long term success in the oil and gas industry.
BEL, which is part of the British Engines group, is adapting its oil and gas valve technology for the hydrogen and carbon capture markets.
Mr Carty said: “The º£½ÇÊÓƵ Government is intent on transforming the North Sea into a clean energy hub, and it seems certain other Government’s around the world will follow suit as the move away from traditional sources of energy production gathers real momentum. This can’t be done without significant infrastructure development and so those who currently supply to traditional energy markets need to have products ready for the new ones or face missing out.
"Since we were founded in the mid-1960s, our products have undergone regular review and redesign to ensure they meet the demands of advancing technology and ever more complicated infrastructure projects. A key element of which has been the adoption of a bespoke product development manufacturing process, which has led to the vast majority of our valves being designed, engineered and manufactured on a project specific basis."
Mr Carty added: "Our aim with Hydrogen and Carbon capture is to diversify our products to be as successful in the clean energy markets as we’ve been in the traditional energy markets for the last 60-years. We have the global reputation, the years of experience and the expertise and are confident that this will ensure that BEL Valves and its products are well positioned for every new Hydrogen and Carbon capture project, wherever in the world it is."
BEL's move into the hydrogen and carbon capture markets follows growth in recent years across the British Engines group, which includes CMP Products, BEL Valves, BEL Engineering, Rotary Power, Michell Bearings, Stephenson Gobin, Stadium Export Services and Tyne Pressure Testing. Latest available accounts for the Newcastle group showed a £11.9m rise in turnover to £141.6m, leading to operating profit of £5.7m, up from £4.4m.
At the time, the group said revenue growth had mainly been driven by an increase in demand for its electrical cable gland, cleat products and hydrodynamics bearings. Directors also talked of developing opportunities into new markets as well as product development initiatives.
