Subsea services company, Rovco is on track to rapidly grow its share of the global subsea market after securing a £1.2-million investment, enabling the firm to launch its advanced live 3D subsea survey system and triple its workforce.
The company has attracted backing from 3 UK-based investment houses. The funds will see Rovco bring its latest inspection technology to the global energy market, and grow its headcount from 10 to 30 employees within the next year.
Following 2 years of extensive research and development activity, the new technology will begin field trials this month. The system has been developed to effectively manage the increasing complexity of subsea operations, using real-time 3D vision and AI data analysis to cut the cost of underwater inspections and maintenance.
To meet an increased market demand for subsea inspection around offshore windfarms, pipelines and cables, Rovco also plans to add 3 new ROVs to its fleet within the next 6 months.
Brian Allen, CEO of Rovco, said: «We have entered the Q2 of 2018 with a strong pipeline of sales and we are extremely confident in our ability to grow our client base both in the UK and overseas. Despite the ongoing market challenges, we have continued to invest in R&D to ensure we deliver high quality and efficient services in several key and growing international markets.»
Launched in 2016, Rovco aims to become a leading ROV and inspection company within the next 2 years, with expertise and capacity to carry out underwater inspection projects across the globe.