Tyneside offshore turbine protection company wins cash boost to help it grow
A TYNESIDE-based manufacturer which has designed a low-carbon electrical system to protect offshore wind turbines from seawater corrosion has secured a public funding boost.
OES Group was awarded £100,000 from the North East Small Loan Fund, supported by The European Regional Development Fund, to help it grow and work on larger projects..
The company designs, manufactures and supplies cathodic protection and anti-fouling systems (which prevent underwater structures from becoming encrusted in mussels, barnacles, algae, slime and weeds) for the offshore wind, maritime and harbour industries.
It has also developed an anti-corrosion system for offshore wind farms which offers a lower carbon footprint, and is more cost-effective.
The funding follows OES winning two major contracts for work on a new offshore wind farm in the Baltic Sea, as well as starting pre-work on two further large-scale projects in the same area.
Its management team worked with regional fund management firm NEL Fund Managers to secure the Small Loan Fund investment, which will help to provide the resources it needs to use its new system on more and bigger projects.
As part of its growth strategy, the company has also moved from South Shields to larger premises in Birtley and is planning to create up to 10 jobs across the next six months, as its operational needs develop.
It has ambitions of doubling its annual turnover by the end of 2022.
Managing director Rob Forsyth, who founded OES in 2016, said: “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.”
He added: “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, added: “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 are actively looking to increase the number of this type of investments that we make through this year and beyond.”
