A specialist North East manufacturer is aiming to make a global impact with its sustainable offshore industry technology with the help of a six-figure investment.
Birtley business OES has developed a world first anti-corrosion system for offshore wind farms which offers a lower carbon footprint than existing solutions and is also technically superior and more cost-effective.
OES has won two major contracts for work on new offshore wind farms in the Baltic Sea and is starting pre-work on two further projects in the same area, along with other emerging schemes in the 海角视频, US, Netherlands and Asia.
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Its management team has worked with regional fund management firm NEL Fund Managers to bring in the £100,000 North East Small Loan Fund investment, which will help to provide the resources it needs to use its new system on more and bigger projects.
The company, which recently moved to larger premises in Birtley as part of its growth strategy, is expecting to create up to ten jobs over the next six months as its operational needs develop and is also aiming to double its current annual turnover by the end of 2022.
OES was originally founded in 2016 as a consultancy by managing director Rob Forsyth, with Dutch offshore wind corrosion specialist Frits Verbruggen coming on board as a shareholder three years later.
Mr Forsyth said: “Offshore wind turbines are entering deeper and deeper waters, while the structures to support the turbines are also having to get bigger to both support the larger scale modern turbines and sustain the larger loadings they are encountering in the new harsher environments.
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“A new environmentally and structurally sustainable solution was required to protect the submerged structures, and in response, we have developed an Impressed Current Cathodic Protection (ICCP) system for installation on an anode cage which allows complete corrosion protection of the submerged structure.
“The system further offers a 95% carbon footprint reduction in comparison to the traditional methods of aluminium anodes which release significant amounts of material into the ocean to offer its protection.
“Our system is adaptable to any environment, can be adjusted in response to changing offshore conditions, and in most cases offers life extension at end of life from a corrosion protection strategy perspective, thus giving owners and operators significant technical and commercial benefits.”
Mike Guellard, investment executive at NEL Fund Managers, said: “OES offers highly specialised products in an extremely active and lucrative market, and has the potential to make an even bigger impact with its innovative new protection system.
“Investing in businesses that are focused on low carbon and sustainable ways of working is a key focus for the North East Fund and we’re actively looking to increase the number of this type of investments that we make through this year and beyond.”
Jack Spoor, business advisor at Robson Laidler Accountants & Business Advisors, advised the OES Group management team during the investment process.
He added: “Rob, Frits and the OES team have demonstrated that their innovative approach enhances the sustainability of offshore wind farms while also providing much needed employment in the North East.”