Survive Thrive VII

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80
Survive &
EIC Insight Report 2023

VOLUME VII
July 2023 EIC Survive & Thrive 2023

www.the-eic.com
Survive &
EIC Insight Report 2023

VOLUME VII
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TABLE OF
CONTENTS
EXECUTIVE SUMMARY 4
ABOUT THE EIC 10
THE KINGS AWARDS 2023 11
OVERVIEW OF COMPANIES 14
OVERVIEW OF STRATEGIES 18
COMPARISON TABLE 22
DEEP DIVES
Netzero Jeopardy 24
Oil & Gas = recession-proof 26
Shock news! New markets are too hard 28
Everybody is talking about people. But why? 30
OilGas
& forprotand renewables for business value 32
Beyond the hope and hype 34
Good times ahead. We hope 36
Leadership Lessons for a booming market 38
STRATEGIES AT A GLANCE 40
SUCCESS STORIES 42
CASE STUDIES 44
4
01
Executive
SUMMARY
EIC Survive and Thrive 2023 - Volume VII
T
his year the EIC Survive & Thrive 2023 Insight seems to be from a different era entirely. The busi-
Report is our biggest yet with 96 energy supply ness world has certainly opened up again.
companies participating in the analysis, 50%
up on last year. Truly representing the global nature We now see a strong preference for face-to-face
of our membership, we showcase inspiring success interactions and the talk of restricted travel and a
stories from an amazingly diverse range of compa- desire to operate on Teams or Zoom has fallen away
nies, ranging from the largest engineering companies, signicantly,althoughstillhasitsplace,rep
manufacturers and EPCs, to the smallest SMEs, and a strong desire for formal and informal relationship
everything in between, and from more regions of the building, networking and real contact, and we seem
world than ever. to be enjoying it much more too.
Wenishedlastyear’sSurviveThrive & process

rmingthereturnofoilandgasafterthemultiple
-
-
con
sup
Leadership hardens
ply chain restrictions generated
We always ask our
by the pandemic and the Russian
business leaders to
invasion of Ukraine. It was clear in
share their nug-
2022 that, although business was
gets of wisdom,
still recovering from these events,
their leadership
our members were beginning to
lessons learnt over
ndnewwaysofoperating.
the past year, and
this year’s feedback is much more hard-hitting. Pre-
Fast forward a year to 2023 and we have no more talk
vious years have had a more collaborative tone with
of COVID; that seems to be a distant memory to our
messages such as staying client-focused and devel-
interviewees, and indeed business before COVID
EIC Survive & Thrive 2023 July 2023

5
oping a long-term strategy. This year, it is much more

about “do it”, “deliver” and “get it done”.
Perhaps the years of COVID and values of promising

to help each other more are nearly gone? In a busi-
ness environment where markets are booming with
unprecedented levels of activity and opportunity,
execution of this bounty is not so easy. Consequent-
ly, margins matter, place matters, recession and high
costs matter, and we are back to head down and deliv-
er the work. No matter what sector or which region,
the order books are full. There is no time for niceties,
this is business.
Boom times
Have you ever seen a market like this?
All regions, all energy sectors, all at
the same time, booming? We haven’t!
After a decade of underinvestment in global energy Stuart Broadley, CEO of the EIC
infrastructure, and a series of market shocks, now is
the time to make hay. Behaviours are changing quickly.
Less collaboration, optimisation and resilience stories ambitionsinfavourofmorereliable,protabl
are evident, and businesses are switching to investing consistent markets like oil and gas. They are reverting
in boots on the ground service and solutions to take to what they know.
the fastest action to win and convert the market.
People and Skills
The market is reverting back to oil and gas, driven
mainly by post-COVID bounce back and energy secu- We have been hearing a lot this year about widespread
rity concerns, allowing businesses to take advantage concerns of a skills shortage. If you believe the hype, then
of the higher margins in that sector versus low mar- we are already in a skills crisis, with businesses unable to
gins in renewables and the well-documented unclear ndtheskilledpeopletheyneedandhencebeingunab
pipeline of green-tech opportunities. to execute the work they have, hampering growth and
Many of our members conrm that investment, mean-
they are seeing high levels of work, ing the boom mar-
even the highest levels of inquiries ket is passing them
they’ve ever seen, but at continued by. But what are we
high costs and tight pricing levels, so really seeing? Is this
they are having to be more selective the next big “confer-
in the bids they pursue, not having the ence topic”, when
nancialorhumanbandwidthtotake thought leaders
on all opportunities. predict a skills crisis
and industry grabs
In this market it is no surprise that the onto it and assumes
supply chain is starting to wrestle con- it is real already?
trol away from the customers, starting
to decline low margin work in favour Certainly,theseinterviewsseemtoconrmthat
of higher margin work, declining long term lump sum companies are concerned about a possible skills short-
work in favour of cost-plus work, reducing their green age, and many are having to work harder and more

6
creatively to execute the work they Eventually it seems to be all talk and nately reaching new lows of just
have, but importantly, almost none the gloss falls off. There are now just 6% this year.
of the companies interviewed have too many reasons why
had to turn away work due to skills net zero targets are at
shortages, so far. This discussion risk, not least of which
has led to the inauguration of the planning delays, lack
People & Competency category of port infrastructure,
in this Survive & Thrive edition, lackofgridexibility
which, when combined with Cul- and capacity, low prof-
ture, is already one of the main it margins with grow-
strategies featured this year (38%). inginationandinter -
est rates, supply chain constraints, But there is some unexpectedly
Apathy for Net Zero skill shortage concerns and so on. good news, if one is creative with
the idea of good and bad. This fail-
Over the last few months, when Even internally the discussions are ure to prioritise the development
running and moderating changing. Responses to whether of new export markets is a global
events I have companies are implementing net issue, not simply one country, like
asked audi- zero strategies in these interviews the UK, falling behind others.
ences to typically ranged from ‘Yes, we are
give a looking at net zero targets, but we All countries seem to prefer to
show of are still in the early days of drawing export to their direct neighbours,
hands up a policy’ to ‘No, we are talking those closest to them, and each
on the about it, but no actions are being region has their favourite places
subject, taken yet’. There are exceptions, to do business. All countries seem
and now with a few companies interviewed to struggle to be able to kick start a
further fully committed to net zero leader- new exports revolution, at least from
highlight- ship, but these are in the minority. the point of view of energy markets.
ed in this Why is this? Undoubtedly, there are
year’s Survive & The problem with policy headlines? many extra risks, delays and costs
Thrive interviews, we They don’t provide substance and that come with new market devel-
aredenitelyseeingapathycreep can
inbe anything you want them to opment, but the rewards are also
for net zero targets and ambitions. be. Until they fail to deliver. But who signicant.Withsomanymarket
If we look to our stats, the Energy is brave enough at the policy level, shocks, and now so much lucrative
Transition strategy has not grown and in which country, to put their business on one’s doorstep, is it sim-
since its rst implementation hand uprstandadmitthatthese
in ply that companies are shy of taking
2021, and yet to meet net zero net zero ambitions are just that, thebiggestrisks,knowingly-sacric
2050 ambitions, surely it should be ambitions, and the reality is that ing the biggest rewards?
expanding every year? In 2021, we the 2050 deadlines will be missed?
had 30% of member companies in- Imagine if a country’s government
volved in energy transition-related
stories.Nowthisgurehasdropped
Exporting – realised this, that their supply chain
could leapfrog their competition if
to just 22%. a global fail their exports policy was more honed
and aggressive. Imagine that.
So, what is going on? It isn’t that Every year, it seems, since we
started Survive & Thrive research
our members don’t believe in
the concept of net zero, and the in 2017, we highlight that the de-
Barriers to trade
consequent targets which are, of velopment of new export and in-
This year we have a lot more talk
course, legally binding; it’s more ternational markets is the least
from the UK contingent of inter-
that they simply don’t believe used, or hardest growth strategy.
viewees around the negative role
that they are achievable. This is New exporting is still the lowest
of Brexit in their exporting jour-
the issue with having something used growth strategy, now for the
ney. It seems that it is becoming
repeatedly as a headline but with seventh year in a row, unfortu-
clearer which issues are down
no concrete action.

7
to Brexit, and which are not, and

many talk of the extra man hours
new innovation is much narrower,
with focus on the service and solu-
Diversification
they are spending to deal with tions growth strategy seemingly down, valuation up
these new trade barriers. Previ- being preferred, being more at-
ously it hadn’t been so clear which tuned to support existing assets This year we
barriers were down to the hang- rather than innovating for new have a contin-
over of COVID, and which were projects. ued reduction
caused by Brexit. indiversica -
High levels of activity tion as a pri-
How this will play out over the next highlights that it is mary growth
year should be watched carefully, indeed the supply strategy, for
as mainland Europe remains the #1 chain that leads a third year
export market for UK companies the way with in- after its peak in
in this study. If doing business with novation, taking 2019. From 29% last year, it
our neighbours does not simplify risks, investing for decreased to 23% in 2023.
and speed up again, this may well the long term, acting
further reduce the appetite for entrepreneurially, believ- Companies have tried moving
developing new export markets ing in our energy market and tar- from oil and gas into renewables,
across Europe as well. geting expansion. And it is this op- but found that it generated low or
timism which can and should drive no margins, being highly commod-
market share growth domestically itised, standardised and a mature
If a country can crack sector. Renewable opportunities
and internationally.
how to help companies also only come along sporadically,
export, including Collaboration making investments and budgeting
more challenging. This scenario is
reducing trade barriers, even worse for energy transition
they really could Innovation is up. And yet collab-
technologies like hydrogen and
oration is down. Again, is this an-
become the global carbon capture.
other hangover of COVID where
leader. we all talked about the “good
Withdiversicationdown,renew -
sense” of working together? We
able and transition margins being
wereallawareoftheglobal - rami
Innovation cations, we all spoke about getting
low, and the pipeline of opportu-
nities being so lumpy, why would
to net zero together.
As to be expected with a strong re- businesses continue to pursue
turn to oil and gas in the UK, inno- these green sectors? The biggest
Those days seem to be gone. Col-
vation as a preferred growth strat- reason seems to be to boost a
laboration is increasingly deemed
egy is continuing to grow in the UK. company’s valuation. There is still
not necessary in times where the
a stark difference in value terms
market is
between a renewable dollar and a
booming,
hydrocarbon dollar. In M&A terms,
and the or-
and this is only a guide as valua-
der books
tions clearly differ from one com-
are full.
pany to the next, but a renewable
dollarofprotmayattract - amul
Collabora-
tiple of 15, whereas a hydrocarbon
tion is still
dollar attracts only a multiple of 5.
considered
just an enabler for other strate-
About 55% of our UK members The consequence of this is a bit
gies, and only 15% of companies
surveyed preferred this approach counter-intuitive – it drives busi-
considered it their joint-main
over others and yet this does not ness owners to want hydrocarbon
approach to achieve success and
appear to be a strategy which our workforpureprotability,needed
overcome challenges (down from
international members are using. to fund new investment, repay leg-
18% in 2022).
Outside the UK, the application of acy debts and to pay competitive

8
salaries and bonuses. But business owners also want other departments, like paying for the higher un-
renewable work, perhaps no longer expecting high employment and benefits payments that typically
prots,butstillknowingthatbeingableto - sayto
accompany
nan a recession.
cial markets that a company has, say 20% revenues in
renewables,willboostcompanyvaluation - signicant
Seemingly, the advice is clear. The damaging effects
ly. Strange times and this multiplier conundrum is one of a recession on your energy business can be fully, or
to watch. Economists may even feel a market valuation partially, offset, by investing in the oil and gas sector.
adjustment is needed, to address this growing gap Perhaps, more sage advice is still the traditional ad-
betweencashprotsandpapervaluations. vice: Hedge your bets and invest in multiple sectors
and regions to help you weather the predicted storm.
Recession-proof? But clearly, oil and gas is now the key market to help
you weather that storm.
Each interviewee was asked to share their views about
the growing threat of a serious local or global reces- Resilience varies by region
sion, and whether they felt worried by this pending
macro-risk? During the times of COVID, resilience was seen by
interviewees as a key survival strategy, but this fo-
Perhaps surprisingly, the feedback was quite clear cus has quickly changed as we have emerged from
and optimistically so. Those members who felt most those dark days. But interestingly, the pace of recov-
resilient, to the reces- ery seems to vary by re-
sion and indeed many gion. The reliance on re-
said they felt reces- silience in 2023 as a key
sion-proof, were those strategy was very low in
with their main focus the UK (at just 12%) but
on oil and gas. With oil remains much higher
and gas commodity in other international
prices expected to stay members (31%, com-
relatively high, even in pared to 16% in 2022).
a recession due to the
continued need for en- Resilience seems to be
ergy security, then the a consistently import-
oil and gas supply chain ant strategy in many re-
is somewhat protected from recessionary effects. gions,perhapsreectinglowerlevelsofdiversica
and legacy export success in some countries compared
Those with more focus on larger scale, frontier proj- to others like the UK.
ects requiring government support, like nuclear
and energy transition technologies like floating off- Resilience therefore could be seen as
shore wind, hydrogen and CCUS, all felt a recession
would have an immediate and negative impact, with an early warning signal of healthy
governments having to divert net zero money to supply chains and economies.

9
THE GO-TO ENERGY SUPPLY CHAIN

TRADE ASSOCIATION, GLOBALLY
The EIC is uniquely positioned to help energy supply chain

business leaders to better understand opportunities and
challenges, to help them grow their business.
WHAT WE DO
ENERGY MARKET EVENTS & PROFILE SUPPLY CHAIN
EXPERTISE NETWORKING RAISING EXPERTISE
Market Intelligence In-person, online EIC Media Survive & Thrive

Databases and hybrid events Centre for news, Insight Report
magazines, press
Industry and UK and EIC releases and Energy Supply
Country Reports Pavilions articles Chain Awards
Data driven energy Trade Delegations Event Solutions Supply Chain
market consulting Capability
services Conferences Mapping
#JoinUs BECOME A MEMBER To book your demo visit: www.the-eic.com

10
10
02 80
major international contractors, operators and man-
ufacturers through to more specialised product and
About
service companies.
Our Objective is to provide our members with a pow-

erful, global network of energy company customers,
suppliers and partners, by building the world’s largest
THE EIC
energy supply chain membership.
We will add value to each of our member companies

by supporting their business development activities,
to facilitate trade and export, to diversify across all
Celebrating 80 years energy sectors, and to
accelerate their growth.
How? The provision of
the highest quality EIC
market intelligence,
data, publications,
events, networking and
promotional services.
Further, EIC’s objec-

tive is to be the voice
of the energy supply
chain globally, work-
ing closely with key
energy stakeholders
and governments to
encourage policies
that meet energy sup-
ply chain needs.
In 2023, the Energy

Industries Council celebrates
Picture 1: January 2023, planting an oak tree in Aberdeen as a its 80th anniversary. It’s been an incredible journey for
testament to EIC’s deep-rooted history.
the council and its members, starting in London in 1943
E
IC is one of the world’s largest energy trade with a meeting of leaders from 13 engineering business-
associations for companies that supply goods es.Weareproudofourachievementsandsignicant
and services to the energy industries world- contributions to the energy sector, and most of all we
wide.Establishedin19the 43, EICisanot-for-prot are excited about the future. In order to celebrate with
organisation with a membership of over 900 com- our members, staff, partners and stakeholders, we have
panies worldwide. Its members range in size from organised a series of jubilee events throughout 2023.

11
RDS FOR
WA EN
The King’s
A
’S
TE
G
IN
RP
THE K
RISE
AWARDS 2023
IN
DE
ER 2023 R
T
NA A
TIO N A L T
Energy Industries Council receives

the King’s Awards for Enterprise in
International Trade
Standfirst: This renowned accolade is testament to the work that the EIC
continues to deliver for its members as the go-to energy supply chain trade
association. In this article, we’ll look back at the organisation’s rich history
and understand exactly what it hopes to achieve moving forward as it
targets another 80 years of success.
Written by: Jonathan Dyble
T
he Energy Industries Coun- tionsandinuencing,across - allen
cil’s (EIC)’s 80th anniversary ergy sectors, on a truly global basis,
year has prompted some sig- and all exclusively in-house.
nicantreectiononitshistoryand
achievements. Its market intelligence and con-
sulting services help its members
Founded in 1943 by 13 British pe- make informed strategic decisions;
troleum equipment manufacturers, it works with government globally to
the organisation’s mandate was to ensure the energy industry is regu-
increase the UK market share in oil lated in a fair and supportive man-
and gas projects domestically and ner; and it hosts 130 annual events
internationally. Having achieved this and networking opportunities that
intherstdecade,theEIC’spurpose help to build key industry relation-
has gradually expanded over time. ships between decision-makers and
policymakers.
Today, its purpose is to help its mem-
bers export, diversify and grow These contributions have been
through an innovative mix of services transformative for the energy in-
and activities. Indeed, the EIC is cur- dustry globally – as a result, the or-
rently the only trade association in the ganisation has achieved the King’s
world to offer data, insights, events, Award for Enterprise in Interna-
awards, country pavilions, delega- tional Trade.

12
Understanding businesses in a variety of ways, from

excellent marketing opportunities and
the King’s Award press coverage to worldwide recogni-
for Enterprise in “Over the past tion as an outstanding British company,
increased turnover and international
International Trade
three years, trade, and a boost to staff morale, and
to partners and stakeholders.”
The King’s Awards for Enterprise
is a series of accolades which rec-
the EIC has
ognise outstanding achievements progressed Why did the EIC win?
by UK businesses in the categories
of innovation, sustainable devel- on the global Withthisbeingtherstawardofits
opment, promoting opportunity
through social mobility, and – in the
stage like kind that the EIC had put itself for-
ward for, the judges highlighted that
case of EIC – international trade. never before.” the accolade was awarded, in large
part, to its continued support of the
“The Kings Award has taken over a energy supply market through hard
huge mantle of prestige and honour times on a global scale.
from the Queen’s Award which was Member at the London Chamber of
established in 1965,” explains Lesley Commerce and Industry.
“Its work, now in 56 countries of
Batchelor OBE – a champion for in- the world, bears testament to the
ternational trade, board advisor, CEO “The use of the prestigious King’s
EICanditsabilitytobeexibleand
of Export Bootcamps, and a judge of Awards Emblem is a recognised
Royal endorsement that will get change with the times as it now
the award for 14 years. “It represents embraces many green technolo-
the achievements of a business, in ouryour business noticed, above and
beyond the competition, both at gies,”Batchelorafrms.“Itisrar
case, in terms of international trade
home and overseas,” he explains. that a trade association achieves
which aligns with the criteria that is
“Successful businesses are per- the exacting standards of the Kings
setbytheKingsAwardsofce.”
mitted to y a King’s Awards ag Award, and we hope this will shine a
Indeed, this highly respected and re- at theirmainofceanduse-the eson the sometimes-unsung work
light
puted award provides many immedi- teemed King’s Awards for Enter- that they do.
ateandlong-termbusinessbenets, prise emblem on their products for
as outlined by fellow award judge thenextveyears. I always feel it’s important that we
Karim Fatehi MBE – Managing Direc- say thank you to great organisations
tor at United Corporation and a Board “Feedback from previous recipients like the EIC for extending the reach
suggest that an award can benet of the UK, and doing it to
such a high standard that
our international reputation
and commitment to being
part of the global economy
remains high.”
Participating in the award

process has also been a
valuable experience for the
EIC itself, its members and
stakeholders taking the time
to recognise the accomplish-
ments of the organisation
over the course of the past
80 years.
“It’s made us realise that

how sometimes you need
to take the time to stop, re-
ectandcelebrate,”state
Picture 2: June 2023, the King’s Awards reception with His Majesty, King Charles III at Buckingham Palace

13
EIC CEO Stuart Broadley. “It gives “Today, the EIC

youcondencetogointothefuture, has over 900
and a vision of what success should members work- “Our mission is to be the go-
look like for us. And it allows you to ing in diverse to energy supply chain trade
take the time to appreciate the peo- markets, in-
ple involved. cluding renew- association, globally, and we
ables, nuclear, will continue to invest heavily
“We are nothing without the people, hydrogen, car-
in high-quality people, data,
relationships and the friendships bon capture,
across this industry. So, it’s import- power, and events and networks(...)”
ant to celebrate those things, and oil and gas, so
this award has given us the space to 1,000 mem-
do that.” bers is a clear target for the next two years. If “Our mission is to be the
wecangrowfaster,ourmemberswillbenet go-to energy supply chain
Targeting another 80 faster. ” trade association,
globally, and we
years of success Growth only paints part of the picture, how- will continue to
ever. Indeed, such ambitions are ultimately invest heavily
Over the past three years, the EIC underpinned by a desire to impart genuine in high-qual-
has progressed on the global stage change and positive impact moving forward, ity people,
like never before. with Broadley outlining how the organisation data, events
aims to do this. and networks
The number of international mem- to achieve this,
bers has increased 680%, while “At present, we are extremely concerned step by step,
international membership reve- about the growing gap between energy transi- around the
nue has also risen from £151,000 tion ambition and reality,” he begins. “In talking world.”
in 2018/19 to £1.177 million in to thousands of business leaders, policy mak-
2021/22. From a proportions per- ers and thought leaders around the world, “ H o w e v e r,
spective, while international mem- we see that there is wide awareness that the now more
bership accounted for just 4% of the likelihood of achieving net zero by 2050 is re- than ever it’s
ducing quickly. And yet, we’ve not yet heard a vital that we
overall membership in 2018/19,
single energy minister from any country of amplify the
this has since expanded to 26% in
theworldraisetheagaboutthis. voice of our
2021/22.
members
“It’s time for the adult discussion about on these key
With its international members
what would it take to achieve this, issues and
now holding headquarters in 54
and incorporate that into a formal be the voice
countries across the globe,
process – continued denial or of the supply
the EIC is beginning to
delaying of that can only be chain to have
truly consolidate its
harmful to investment, to those most
reputation on the in-
growth and ultimately difcult of con -
ternational stage –
our ability to achieve a versations. There
an ambition that
successful transi- is no more im-
will remain front
tion. portant a role for
and centre mov-
me now, as Chief
ing forward.
Executive, than to
ensure that the EIC
“We are growing
continues to prosper
quickly,” Broadley
for the next 80 years
adds.
and beyond.”

14
14
03 Overview of
COMPANIES
Revenue from exports
energy storage, waste

(CCS, hydrogen, FOW,
Others (non-energy)
Energy transition
Revenue (million
Nuclear Power
to energy, EVs)
Conventional/
Renewables
Employees
Oil & Gas

GBP)
COMPANY
AAL Shipping 110 20% 20% 30% 30%

ABB 1.800 £500 4%
ABL Group 1.500 £216 42% 49% 31% 20%
Affinity Test Services 70 £3 100%
AIS (Brazil) 75 £4 5% 80% 20%
AIS (UAE) 31 £4 75% 70% 20% 10%
AIS (UK) 487 £100 85% 46% 9% 45%
Alderley 400 £80 85% 95% 5%
Alypz 89 £3 60% 65% 35%
Ankura 1.800
Applica Resourcing 14 £11 40% 75% 12,5% 12,5%
Arcadis 37.000 £2.063 2% 7% 4% 2% 85%
Arrow 8 60% 60% 10% 10% 20%
ARUP Philippines 200 £1.900 30% 100%
ASCO 1.500 £419 25% 96% 4%
asset55 26 £4,5 50% 85% 4% 3% 4% 4%
ASYAD 8.000 £1.000 90% 10%
ATPI Travel 1.900 £1.000 70% 30%
AVEVA Group 6.500 £1.100 38% 18% 44%
Baker Hughes 55.000 £17.000 70% 45% 90% 10%
Balmoral 350 £90 90% 85% 15%
Belzona 251 £29 85% 25% 10% 10% 1% 54%
Blaze 35 £4 7% 20% 10% 12% 58%
BMT 1.300 £157 30% 19% 1% 80%
Bollore 182 £58 30%
Brunel 12.000 £1.000 39% 12% 49%
Bureau Veritas Solutions M&O 2.018 £70 62% 38%

15
15

Others (non-energy)
Energy transition
Revenue (million
Nuclear Power
to energy, EVs)
Conventional/
Renewables
Employees
Oil & Gas

GBP)
COMPANY
Calgavin 35 £3,5 90% 80% 2% 5% 13%

Capital Consulting International
200 £40
(CCi)
Cellnex 350 £200 15% 1% 2% 97%
Cokebusters 105 £11 97,5% 90% 5% 2% 3%
Comeca 1.500 £112 11%
Consortiq 10 £0,822 60% 45% 50% 5%
COOEC-Fluor 1.500 50% 33% 33% 33%
Crondall 45 £7,2 50% 72% 4% 24%
Deepsea Technologies 33 £10 71% 100%
Deugro UK 1.400 £843 90% 45% 10% 25% 5% 15%
Draeger Safety 26 100% 80% 5% 5% 10%
Emerging EPC 65 £11 15% 90% 10%
EquipSea 120 £10 95% 5%
EthosEnergy 4.000 8% 25% 50% 25%
Faazmiar Technology 28 100%
Fluenta 12 £2 100%
Fluor 40.000 £11.400
Fulkrum 70 £28 90% 90% 1% 9%
Gexcon 2.000 £25 10% 40% 40% 20%
Global Maritime 290 £46,7 80% 45% 35% 10% 10%
Harting 6.500 £918 80%
Hempel Paints 6.500 £1.085 45% 55%
Hugh Fraser International (HFI) 16 £1,2 100% 75% 25%
Howden, a Chart Industries
11.725 £3.100 92% 9% 41% 50%
Company
Instrument Transformers
30 40% 5% 90% 2% 2% 1%
Ltd (ITL)

16
16
03 Overview of
COMPANIES

Others (non-energy)
Energy transition
Revenue (million
Nuclear Power
to energy, EVs)
Conventional/
Renewables
Employees
Oil & Gas

GBP)
COMPANY
KBR 28.000 £5.300 10% 16% 3% 81%

Kent 12.000 £1.000 40% 34% 26%
Koil Energy 49 £10,5 25% 90% 10%
Lloyd’s Register 3.500 £500 75% 70% 25% 5%
Maxgrip 30 £1,6 50% 80% 10% 10%
MHB 3.933 £278 20%
Mott MacDonald Ltd (MM) 8.000 £2.000 70%
MSTS Asia Sdn Bhd (RelyOn
100 £8,1 60% 20% 20%
Nutec)
Myrcator Marine & Cargo
1 £0,205 80% 50% 50%
Solutions FZE
Nigeria Machine Tools (NMT) 101 60% 40%
Oceânica 2.000 100%
Oilfield Offshore 11 40% 100%
Penspen Limited £1.000
Petronash 800 £200 50% 80% 10% 10%
Proeon Systems 54 £6 30% 75% 2% 20% 3%
Randridge 3 £1,5 90% 10%
Reset Energy 23 50% 50% 20% 10% 20%
Restrata 120 50% 70% 15% 15%
Rev Energy 18 £6,2 90% 9% 1%
Samuel Knight 70 £20 75% 30% 60% 10%
Score 820 £93 19% 89% 3% 8%
Servomex 425 £85 95% 48% 6% 46%
Shipham Valves 80 £8,2 85% 80% 5% 2% 13%
Siemens Energy 91.000 £24.000 17% 80% 20%
Smulders NV 1.200 £400 90% 89% 11%

17
17

Others (non-energy)
Energy transition
Revenue (million
Nuclear Power
to energy, EVs)
Conventional/
Renewables
Employees
Oil & Gas

GBP)
COMPANY
STATS Group 340 £59 85% 100%

Tata Steel 8.000 £3.500 40% 0,3% 0,1% 0,1% 99,5%
Texo 100 £40 50% 20% 30%
TNF Energy 105 £1,5 20% 60% 15% 10% 15%
Triplefast 200 £24 80% 55% 10% 20% 5% 10%
TRS Staffing 256 £322 40% 4% 5% 5% 46%
TS Electrical 18 £6,2 90% 9% 1%
Turner & Townsend (UK) 10.000 £779
Turner & Townsend (US) 1.356 £163,1
TUV SUD ET 203 £29 10% 100%
UCT 750 90% 25% 5% 5% 15% 50%
Vahterus 450 £84,9 95% 15% 10% 5% 70%
Venterra 500 £104 70%
Venture Services 19 £1,4 56% 8% 16% 20%
Voovio 56 100% 80% 10% 10%
Vysiion 160 £28 5% 5% 20% 20% 5% 50%
Vysus Group 375 £60 80% 50% 20% 5% 25%
Waves 56 £7,5 45% 48% 52%
Weidmueller (Klippon) 5.200 £1.050 3% 10% 20% 70%
UK
EUROPE
APAC
MENA
AMERICAS *Colour scheme considering interviewees office location

18
18
04 Overview of
STRATEGIES
Transformation
Diversification
Collaboration
Sustainability
Optimisation
Competency
Technology
Innovation
Resilience
Transition
Solutions
People &
Scale-up
Service/
Culture
Energy
Export
Digital
COMPANY
AAL Shipping X X X X
ABB (UK) X X
ABL Group X X
Affinity Test
X X
Services
AIS (Brazil) X X
AIS (UAE) X X
AIS (UK) X X
Alderley X X
Alypz X X
Ankura X X X
Applica Resourcing X X
Arcadis X X X
Arrow X X
ARUP Philippines X X X
ASCO X X
asset55 X X X
ASYAD X X X
ATPI Travel X X
AVEVA Group X X
Baker Hughes X X
Balmoral X X X
Belzona X
Blaze X X X
BMT X X
Bollore X
Brunel X X
Bureau Veritas X X

19
19
Transformation
Diversification
Collaboration
Sustainability
Optimisation
Competency
Technology
Innovation
Resilience
Transition
Solutions
People &
Scale-up
Service/
Culture
Energy
Export
Digital
COMPANY
Calgavin X X X X X
Capital Consulting
X X
International (CCi)
Cellnex X X X X
Cokebusters X X X
Comeca X X X X
Consortiq X X X
COOEC-Fluor X X X X X
Crondall X X
Deepsea
X X
Technologies
Deugro UK X X X X X
Draeger Safety X
Emerging EPC X X
EquipSea X X
EthosEnergy X X
Faazmiar
X X
Technology
Fluenta X X
Fluor X X X X
Fulkrum X
Gexcon X X X X
Global Maritime X X X X
Harting X X
Hempel Paints X X
Hugh Fraser
X X
International (HFI)
Howden, a Chart
X X X
Industries Company

20
20
04 Overview of
STRATEGIES
Transformation
Diversification
Collaboration
Sustainability
Optimisation
Competency
Technology
Innovation
Resilience
Transition
Solutions
People &
Scale-up
Service/
Culture
Energy
Export
Digital
COMPANY
Instrument
X X X
Transformers Ltd (ITL)
KBR X X X
Kent X X
Koil Energy X X
Lloyd’s Register X X
Maxgrip X X
MHB X
Mott MacDonald
X X X
Ltd (MM)
MSTS Asia Sdn Bhd
X X
(RelyOn Nutec)
Myrcator Marine &
X X
Cargo Solutions FZE
Nigeria Machine
X X
Tools (NMT)
Oceânica X
Oilfield Offshore X X
Penspen Limited X X
Petronash X
Proeon Systems X
Randridge X X
Reset Energy X X X
Restrata X X X
Rev Energy X X
Samuel Knight X X
Score X X X X
Servomex X X X
Shipham Valves X X X X

21
21
Colour scheme considering interviewees office location
UK
EUROPE
APAC
MENA
AMERICAS
X is the main category of the success case
Transformation
Diversification
Collaboration
Sustainability
Optimisation
Competency
Technology
Innovation
Resilience
Transition
Solutions
People &
Scale-up
Service/
Culture
Energy
Export
Digital
COMPANY
Siemens Energy X X
Smulders NV X X X
STATS Group X X
Tata Steel X
Texo X X X
TNF Energy X X
Triplefast X X
TRS Staffing X X
TS Electrical X X
Turner & Townsend
X
(UK)
Turner & Townsend
X X
(US)
TUV SUD ET X X
UCT X X X
Vahterus X X X
Venterra X X X X
Venture Services X
Voovio X X
Vysiion X X X X
Vysus Group X X X
Waves X
Weidmueller
X X X
(Klippon)
TOTAL (ALL 15 21 12 21 14 6 22 9 16 20 7 32 8 9 18
COMPANIES) 15% 22% 12% 22% 14% 6% 23% 9% 16% 21% 7% 33% 8% 9% 19%

22
05 Comparison
TABLE
2017 2018 2019

Number of success stories 26 26 26
Per year savings and new orders £0.6bn £0.4bn £1.8bn
Collaboration as an enabler
100% 100% 100%
for other strategies
Innovation (including digital

73% 69% 64%
and technology)
Diversification 27% 38% 36%
Service & solutions * 42% 60%
Optimisation 23% 27% 48%
Culture * * *
Transformation * * *
Digital * 19% 32%
Energy transition (includes

* * *
sustainability)
Export 8% 19% 12%
Resilience * * *
Scale-up * * *
Additions to comparison table

23
W
ith 96 participating companies, this is for ever more diverse strategies to deliver growth
the largest edition of Survive & Thrive and one of the consequences of this is that any
over its seven year existence, 50% up on singlestrategyistypicallyeitheratorr
2022. When you scan the overall trends across the in overall popularity as a percentage.
years it is evident that companies are searching
2020 2021 2022 2023

40 61 63 96
£2.4bn £1.5bn £995m £924m
100% 100% 100% 100%
54% 31% 51% 45%
49% 39% 29% 23%
44% 36% 40% 37%
39% 21% 14% 9%
33% 21% 21% 21%
28% 21% 19% 18%
26% 15% 19% 12%
18% 30% 22% 22%
15% 15% 13% 6%
* 36% 25% 22%
* 13% 14% 7%
* Categories not previously measured

24
06
icymakers to acknowledge the jeopardy facing net
zero targets. We speak of the UK, but we expect this
to be the case in many other countries too.
The lack of conviction surrounding the UK’s net

zero target is increasingly evident in conversations
with diverse audiences, including Survive & Thrive
interviews, where the use by companies of the Ener-
Net Zero
gy Transition growth strategy has shrunk in the last
three years, from 30% in 2021, to 22% in 2022 and
2023. Panel discussions and dozens of interviews
JEOPARDY
conducted this year reveal that not a single person in
the supply chain believes UK net zero targets will be
achieved. Those interviewed may caveat this state-
ment of peril by then saying that it would need some
magical intervention to address this issue, some form
of massive and currently unfunded capacity scale up
in the entire value chain. But no one believes these
rescue plans are going to happen either.
T
he urgent need to achieve net zero emis-
sionshasbecomeaglobalpriorityinthe This
ghtgrowing scepticism highlights the urgent need
against climate for open dialogue and
change. However, our exploration of poten-
analysis of current, tial solutions. The UK
widespread delays government’s admis-
in project funding sion that its policies
strongly signposts will only achieve 92%
that the UK is not go- of the necessary emis-
ing to meet its legally sions cuts further re-
binding 2050 net zero inforces the doubts
target, and neither about attaining even
will Scotland meet its that level.
2045 target.
We have a worry-
This reality calls for ing and growing gap
immediate action and a candid discussion about the between policy ambition and industry reality. The
challenges hindering our progress. It is time for pol- renewable energy sector faces various hurdles, in-

25
cludinggridlimitations,nancingchallenges, - The upcoming

plan COP28 is perhaps the best platform for
ningcomplications,andlicensingissues.Insufcient this adult discussion, to acknowledge the challenges
funding often leaves renewable projects unable to and promote decisive action on the back of account-
engage the supply chain effectively, which are left ability and transparency that will hopefully come out
idle waiting for projects. Funding problems and proj- of the planned ‘stock-taking’ process, which will shed
ect viability will only worsen with the current higher light on the progress being made by each country to-
interest rates. wards their net zero commitments. As we all know, if
you measure something, it’s more likely to get done. So
Policymakers must lead the way in acknowledg- far, net zero progress is not being measured.
ing the challenges and providing clear, actionable
policies that prioritise renewable and transition in-
vestments. By fostering an enabling framework that
supports partnerships, research and development,
and sustainable practices, governments can propel
the energy industry, including oil and gas companies,
towards a greener and more sustainable future. It’s
this inclusive approach that will help us go through
the transition successfully, because oil and gas com-
panies are important funders of renewable projects
and major innovators in new technologies, particu-
larly hydrogen and carbon capture.

26
A
07
t the start of 2023, a ma-
jority of World Economic
Forum’s community of
chief economists stated that they
expected a global recession by the
end of 2023. While the global ener-
gy conversation of the last couple
years has predominantly focused
on achieving net zero, it is also in-
creasingly recognised that oil and
Oil and gas = gas remains the primary source

of power, heat, and by-products
for various industries. Countries
RECESSION-PROOF need security of fuel and power

supply, including oil and gas, after
the wake-up call of the Russian in-
vasion into Ukraine. Stopping oil
and gas production in one’s coun-
try does not stop domestic demand
for oil and gas, and simply switches
energy strategy from producing to

27
importing, and policy makers are now having to accept Now roll forward to 2023. On the back of under-in-
that imported oil and gas normally attracts much high- vestment in new oil and gas projects supply, and now
er emissions than locally produced. the global spike in demand for oil and gas, the market
has switched from low to high activity quickly.
Risinginterestrates,ination,energycostsandgeneral
costs of living, accompanied by supply chain constraints, The drivers are long term, especially energy security, and
have resulted in a slowdown in energy infrastructure now the nature of the development of oil and gas projects
investment, and this is on the back of the post-COVID is also long term. It takes years to develop mega-energy
shortages and delays in logistics, goods and services. projects, especially oil and gas projects, and once the
market starts growing, that spurns years of subsequent,
Renewable energy projects are not progressing as predictable high activity across the whole value chain. At
quickly as they should, and their margins are tight. some point, the oil and gas boom will end, of course, and
New projects take several years, even a decade, to a major bust is likely, history says, but most interviewees
materialise,andtheowofrenewableworkinto feelthe
we are years away from that down cycle.
supply chain is often ‘lumpy’.
Whereas 67% of companies feel recession-proof,
Many respondents to our Survive & Thrive survey there are of course others that feel differently. What
made it clear that, with this backdrop of challenging is the reason? Whereas oil and gas, and the funding
nancialconditionsandnetzerodelays,they thereof,
seean is expected to be strong through the period of
oilandgasmarketthatisnow,forthersttime a recession,
inten companies feel strongly that other sectors
years, booming. And this seems set to continue. are much more vulnerable to recession hitting invest-
ment. Interviewees from companies in sectors like
More than two thirds of those interviewed say that nuclear,hydrogen,andoatingoffshorewind, - allst
they are not really ed a major concern
worried about the that a recession
effect of a recession would more quickly
on their businesses, impact funding from
at least for the short governments, that is
to medium term, still needed to stim-
even though they ulate demand and
agree that one is kick start projects
likely. In effect, these in early-stage tech-
companies feel re- nology development
cession-proof. Why and scale up devel-
is this? opment. Recessions
lead to high unemployment, and this means govern-
After the severe oil crash of 2014, companies in the ment money, earmarked for infrastructure and net
energy sector vowed never to over-rely on the oil zero projects, will likely be rerouted to prop up a re-
and gas market again, having become too used to a cessionary country budget.
booming oil and gas market for several years, and
feeling they could rely on that continuing. Then the In summary, oil and gas seems to provide a long-term
oil crash happened, and the oil industry, including the protablebusinessopportunity,thatisalsore
supply chain, was caught off guard and it took years proof over the short to medium term, and this combi-
for the industry to adjust, to cut costs and capacity nation of market strengths is unique. Companies are
enoughtobeprotableagain,andtoadjust trying
tothe to make the most of this upcycle while they can,
new, lower levels of demand and investment in the remembering well the pain of a bust cycle, trying to
sector around the world. invest and grow as quickly as possible now while not
over-relying on oil and gas once again.

28
08
Shock News! New Markets
ARE TOO HARD
T
he development of new export and interna- the UK for sure but was also the least used by interna-
tional markets has been the least used growth tional supply chain businesses too.
strategy employed by UK businesses since we
started carrying out Survive & Thrive research in This is reassuring to some degree. It means the UK is
2017. Sadly, 2023 marks the seventh year in a row not necessarily falling behind, and that all companies in
when new exporting is the least used strategy. allcountries,asageneralrule,ndthedevelopm
new export and international markets to be the hardest,
We have the people, and the people are willing to move in- the riskiest, the most costly, takes the longest time to
ternationally. We know this from the legacy global success maturetoprot,andthereforeistheleastat
of oil and gas historically, where you will meet thousands when compared to faster and more lucrative options
of Brits living and working in all the oil and gas hubs of for growth in today’s booming world market. In the-
theworld,perhapstheultimatedenitionofacountry ory, therefore, the UK and indeed any country could
exporting successfully and globally. But we now seem to choose to support its supply chain with stimulated ex-
have a complete disconnect between energy supply chain port growth which could steal a march on others.
businesses today and the need to invest in internation-
al growth into new markets for the future. The issues around “reasons not to invest in new export
markets” arise where the differences are most pro-
However, one new fact that our research nounced. Something company executives mentioned
has unearthed this year is that this is not a in these interviews frequently was the increasing
UK-specicconcern:theExportcategory costs of doing business. This encompasses estab-
was the least used growth strategy in lishing a presence in the region, employing law-

29
29
yers and tax advisers, and ensuring being on the right port conundrum. We know that most countries are in the
side of employment legislation. Doing this in a country race to be the leader in clean technology, and whoever
that you don’t understand adds to the stress of breaking ndsasuccessfulexportstrategycould,quitelit
into a new region. rule the world.
There are also other Having an on-the-

constraints. The lan- ground presence,
guage and knowing handholding, having
‘how’ to do business ambassadors – not
are big factors. Cross- necessarily govern-
ing cultural norms, mental – reducing
not understanding barriers in the way, all
the nuances of living of these will help to
and working there, inform and educate
and not knowing who the businesses as to
to speak to, were all how to effectively do
raised as issues. business in new coun-
tries.
Furthermore, with talk
of skills shortages, it is harder than ever to recruit and re- Fundamentally, people will try to overcome any barrier
tain the right people to lead your new country campaign. to export if the prize is valuable enough. Therefore, the
country that manages to create the correct business en-
Local content regulations were also seen as a much vironment at home with numerous guaranteed energy
greater factor than in previous years, as countries af- transition projects will seed and root the supply chain in
ter COVID ramped up in-country demands. With more their home nation. This will then allow that same supply
countries calling for local content requirements to bol- chain to reach out and deliver in other countries as they
ster their local supply chain, if a supply chain business move to deliver energy technology projects.
does not already have established facilities there, in-
vestinginthesemultiplecountry-specicfacilities We already have
is an active global network of energy
seen by many as a step too far. supply chain companies; we should nurture and encour-
age them to move, and to do that, we need to listen to
The law of unintended consequences also plays a part, what they need.
as countries with policies aimed at ending support for
oil and gas companies exporting, such as the UK, have
unfortunately also further hit competitiveness of those
businesses abroad.
Only 6% of companies interviewed chose

the growth strategy of developing
new export and international
markets, which creates huge
potential for governments
trying to crack the ex-

30
R
ewind three years, to the
height of the pandemic,
and the movement of peo-
ple had more or less ground to a
halt. Lockdowns and restrictions
09
created an enormous labour
crunch which impacted supply
chains the world over, especially
in countries such as China where
measures were more prolonged
and rigorous.
Today, although people are free-

ly on the move again, discussions
Everybody is Talking
about the supply of labour contin-
ue. Large volumes of workers have
not returned to the job market
About People
since the pandemic, instead choos-
ing to pursue alternative priorities,
while the need to reskill and upskill
BUT WHY?
workforces to align with energy
transition strategies and trends is
ever intensifying.
Thishasstirredupsignicant - chat
ter on skills shortages and the chal-
lenge of recruiting and retaining
human assets. If you believe what

31
you read about this, then companies are already turning

away work for lack of skilled workers. Is this true? Inter-
viewees shared that they are largely not at that point
yet,normallyabletondcreativewaystostillexecute
their contractual commitments and get the job done.
Some mentioned that they saw EPC contractors strug-
gling to recruit staff, outsourcing more scopes of work
into the supply chain than they have seen for ten years.
It seems that companies are preparing themselves for

what might be a skills crunch to come, particularly if
FID rates grow in renewable and transition markets,
or if mega-projects in oil and gas go forward. But that’s
a lot of ‘ifs’. Either way, when combined with Culture,
38% of this year’s Survive & Thrive stories are linked
to ‘People and Competency’ strategies, the only new
category of growth strategy this year.
Manyrmshavesoughttosharehowtheyareattract -
ing, training and motivating employees to promote a
positive workplace culture that maximises perfor-
mance and supports personal development.
While EIC data shows the labour crisis is not yet being
universally felt on the ground, it is clear from this year’s
SurviveThrive
& surveythatmanyrmsaretaking - pro
activestepsnow,beittofulltheircurrentneedsorin
anticipation of a potential skills squeeze in the future.

32
10 OilGas
& forProt
and Renewables for
BUSINESS VALUE
C
lose to 70% of the world’s announced 13,500 Investors have long tended to value businesses
energy projects tracked in EICDataStream, in with green technology and revenues, in ‘multiple’
quantity terms, are for green developments terms, more highly than hydrocarbon businesses. For
such as wind and hydrogen, but this in value terms is demonstration purposes, but clearly oversimplifying,
only worth about 30% of the $13.5 trillion market. oil and gas companies may attract an EBITDA
Conversely, oil and gas claims about 30% of project multiple of 5 whereas green companies may attract
quantity for nearly 70% of the value.

33
a multiple of 1 5 . For like for like protability, Sothis

today, we have a situation where company owners
would clearly value green companies three times needoilandgastogeneratehigherprotmar
higher than hydrocarbon companies. which every business needs, to pay salaries, bonuses,
repay debts, to invest in new capacity and new R&D
Spurred on by COP26, companies in the energy supply ideas, and so on, even though they know this will not
chain tried to diversify their activities beyond oil and betrulyreectedinthehighestbusinessvalu
gas, into other sectors, for two reasons: to reduce
reliance on oil and gas, and to try to take advantage Those same business leaders are keen to maximise the
ofthehighergreenvaluation.Indeed,diversication valuation of their businesses, in the event they choose
was the most used growth strategy in 2020 and 2021 to exit, and this means needing other forms of activities
peaking at 49%. However, after two
years of trying, company bosses
learnt that the renewables sector
was not as protable as they had
hoped, differentiation was harder,
and demand was too lumpy for them
toplanandinvestin.Diversication
then slowed, down to just 23% of
companies seeing it as an attractive
growth strategy this year.
Companies interviewed this year

were very frank, more so than in previous years, and revenues that attract higher multiples. That is today
about the quandary they face. How should they most where renewables and energy transition technologies
effectively invest in all energy sectors, including oil like hydrogen and CCUS come in. Many in the energy
andgas?Today,thevolumes,protsandconsistency supply chain now believe that there is little to no money
of oil and gas contracts trump all other sectors. in the green sector, but involvement in renewables is
This provides a once-in-a-generation chance for critically needed anyway, to meet ESG commitments,
companies to do well enough to repay their legacy to satisfy staff and other stakeholders that a company’s
debts from the tough times of the last ten years, and values are aligned with their own, and most importantly
to raise enough cash, develop enough new skills and to increase the company’s valuation.
build enough new capacity to then deliver a net zero
future, which everyone wants. But only when that Butforprot,whichpaysthebills,oilandgasisk
market comes to life, stimulated by policy makers, This feels inconsistent, inauthentic, doesn’t it? Perhaps
with real evidence of cascading orders, not just it signals a market valuation adjustment is to come, to
because policy makers demand it as if by magic. address the undervaluation of oil and gas and the over
valuation of renewables? Just a thought.

34
11
As you will see, analysis of 2023 ‘FID
rates’ raises serious concerns about
the feasibility of net zero 2050. In
the table, you will see the energy
segments with the highest FID rates
are related to oil and gas, namely
upstream, midstream, and down-
stream, averaging around 20%.
Beyond the
Upstream sees the best FID rate
at 23% of US$1.2trn of announced
projects. These projects are due for
completion between now and 2028.
HOPE AND HYPE Similarly, midstream, which includes

LNG projects, has reached an FID
rate of 21% of nearly US$1.0tn of
announced projects.
In contrast, renewables and en-
H
ow often have you heard inform policies and their related ergy transition technologies face
policy makers and jour- media coverage? So, here goes. comparatively much lower FID
nalists express opinions The data we will use to provide rates, with offshore wind being
on domestic and global energy clarity is Financial Investment only 8% of US$624bn, hydro-
strategy and net zero, and wheth- Decision (FID) data, provided gen at 3% of US$490bn, carbon
er we are on track, need to accel- from EICDataStream. When a capture at 2% of US$144bn, and
erate, whether the supply chain project reaches FID, it has met all floating offshore wind at just
is the problem or the solution, the criteria to be 100% funded, as 1% of US$92bn. Considering
and so on? What is missing is real declared by the project owner, and how much we read in the press
data, to bring to life the topic. Data as such will cascade down into the and hear on the news about the
and evidence would surely better supply chain. quantity of green projects being
FINANCIAL INVESTMENT DECISIONS (FID) - GLOBAL (2023 - 2028)
Estimated CAPEX CAPEX on

Count of Number of % of overall
of projects under projects to % of projects
Sector Industry projects to value to
development reach FID to reach FID
Sector reach FID reach FID
($million) ($million)
Upstream 1109 1,187,270 141 271,335 13% 23%
Midstream 689 982,361 60 209,950 9% 21%
Downstream 709 1,344,261 80 198,863 11% 15%
Offshore Wind 319 623,925 25 48,943 8% 8%
Hydrogen 544 490,251 33 13,438 6% 3%
Biofuel 180 72,449 14 6,229 8% 9%

Carbon Capture 201 144,135 6 3,470 3% 2%
Floating Offshore Wind 65 91,958 3 719 5% 1%

35
announced, this is a disappointingly low quantity that the quantity of companies trying to participate
and value of projects that are actually getting the in newer transition technologies like hydrogen and
green light to go ahead. CCUS has bounced up to 30% this year, which sounds
good.Rememberthough,thischartdoesnotree
It is also worth noting that most hydrogen and CCUS the level of revenues achieved, only the simple fact
projects are pilot scale, and hence have a relatively low that a company is active in that sector.
amount of CAPEX, not the commercial scale projects
that are needed to reach net zero. The same chart shows mature renewable revenues
SHARE OF INDUSTRY SECTORS PER YEAR
One of the simplest acid tests of whether net zero is reducing,reectingtheinconsistentandlowm

real is to ask supply chain companies if they are busy nature, and worsening delays, of wind and solar. Power
with renewable and energy transition work. If they is up as countries in Europe urgently develop alterna-
are seeing it, it must be real. Are their order books tive thermal power capacity after the Russian invasion
full of green projects? The FID data clearly shows of Ukraine, and oil and gas is down slightly too.
that they can’t be,
and our interviews If this data is con-
with company lead- verted to the % of
ers back this up. total company reve-
nues that relates to
The net zero 2050 each sector, the data
growth targets tells a different story
heavily rely on redi- again (see table be-
recting investments low). Of the 96 com-
away from hydrocar- panies participating,
bons and towards 83 provided detailed
low-carbon and re- data. Of those, look
newable technolo- at the % of revenues
gies, but FID rates in mature renew-
say otherwise. ables and hydrogen
and capture. It’s a
For more perspective, interviewees were asked if direct match with the FID rates for those sectors. A
they have any revenues in renewables and energy bitmoreevidencetoconrmthenthatthetra
transition (such as hydrogen and CCUS), and the data is not yet real, as the supply chain sees very little of
is interesting there too – see table above. It shows theambitioncascadingintoordersandprot

36
12
Good Times Ahead.
WE HOPE
T
his is a once-in-a-generation market. All been too much underinvestment in energy infra-
energy sectors, in all regions of the world, structure for too many years, and a correction in
all booming at the same time. Exciting, in- capacity and supply is now underway. This correc-
timidating, exhausting for business owners, but tion in CAPEX takes years and will have a lasting
wow, what a chance for companies to repay their upwards impact on OPEX for decades to come.
debts from the past ten years of tough times and
to see real scale up growth, fast return on invest-
For businesses, things could become even bet-
ment, and positive business change beyond their ter than they already are, if they approach this
wildest dreams. situation smartly. Every technology is in play,
be it CCUS in Canada, hydrogen in UK and Ger-
The industry is now buoyant and fun again, with many, manufacturing and R&D in the US, off-
leaderscondentthatthislevelofoptimism shore wind
can in Europe and China, and even
continue for years to come. Why? There has just nuclear in many places, and so on. And

37
if all these projects come to fruition, plus all if they all happen? Although a few companies in-
the oil and gas mega-projects that are close to terviewed are already reporting being at capacity,
reaching FID, then there will be plenty of work, this is not a major concern yet according to our
indeed too much work, for a decade of more. research, and our EICSupplyMap data further
conrmsthescalablenatureofourexistin -
But there are two elephants in the room. We’ve ply chain when opportunity knocks. This theo-
known for a while the question about whether retical scale up could be only a year or two away,
we have the supply chain capacity to deliver all particularly if the log jam of mega projects breaks.
these projects, across all sectors and all regions, Something to watch out for.
A second newer elephant is industry arrogance.

I don’t mean to offend with this word, but we all
remember past booms when companies and
their leaders have refused to register warning
signs in the markets and plough on regard-
less with their pre-budgeted and upwardly
promised growth and investment plans,
only to be hit with a violent bust cycle
that they did not see coming, or worse
still saw coming but hoped would hurt
others, not them. Tales then follow of re-
grets, of promises to never over-commit
again.
History tells us a bust is coming, sooner or

later, and this author strongly recommends
thatleadershavetheireyesrmly-inthe
view mirror while they accelerate hard to take
advantage of this lucrative growth market. As my
old boss used to say, “Run your business with one
foot on the accelerator and one foot on the brake”.

38
13
Leadership Lessons for
A BOOMING MARKET

39
S
ince the 2014 oil crisis, the energy sector has means of building relationships and driving action.
been rocked by uncertainty, with companies Indeed, a key shift in sentiment has occurred in
having had to stay alert in the face of unexpected the advice given by business leaders. Previous
events around every corner. The pandemic, for years were about collaboration, building bridges
example, forced many enterprises to put the brakes and developing a long-term strategy. Now, the
on visionary strategies and showed the importance emphasis is on delivering immediate-term objectives.
ofresilience,in-countrycapability,diversication, Therealityofination,squeezedmarginsand
digitaladoption,andexibility,whiletheimmediate pressure to deliver for customers means it is time
impacts of the Russian invasion in Ukraine sent out to get heads down and crack on.
more shockwaves triggering strategies around energy
security, maximising of production, and fact- not Lesson 2 – Keep an open mind and take risks
policy-based investments.
Although there is an emphasis among business leaders
After all the uncertainty of the last ten years, to get things done, this comes hand in hand with the
companies now believe we are in a period of sustained need to operate with an open mindset and an appetite
growth and high activity. All markets, all sectors, all totakecalculatedrisks.Yes,manyrmsarerever
regions, all are booming, all at the same time. This to what they know amid a return to the boom times,
is truly a once-in-a-generation, even a once-in-a- but this is not cause for complacency to set in.
lifetime, market opportunity. We have never seen
a market like this. It’s not easy, but it is exciting. Indeed, as we have seen, the sector is constantly
Commentators have described this time as the new changing and innovating, with new approaches,
industrial revolution; certainly, it needs to be an technologies and ideas coming on stream. Those which
energy revolution. take risks and embrace the right ideas stand to thrive.
Findings around leadership behaviours from this Lesson 3 – Be resilient and confident in
year’ssurvey,reectingthisnewrealityofabooming
your abilities
market, show a much more straightforward mindset
than we heard last year, when advice centred
Businesses have also had to demonstrate a
on having a clear strategy, staying close to your
remarkable amount of resilience to navigate
customers, and nurturing your people and culture.
turbulence in recent years, and with much-craved
With COVID barely a footnote and now a seemingly
certainty still lacking somewhat, high levels of
distant memory, attention among business leaders
doggedness and determination will need to remain.
has turned back to the job in hand.
At the same time, it has never been more important
Lesson 1 – Adopt a ‘get it done’ mentality toexpresscondenceinone’sstrategies,pro
andservices.Thiscondenceshouldbebackedupb
Most of the barriers to getting things done which have thorough market research which highlights a demand
denedthepastfewyearshavenowdisappeared.The for clear differentiation, and said USPs need to be
business world has opened up once more, with people effectively communicated to current and prospective
free to travel to where they need to be. This has coincided customers.Atthesametime,itisimportanttha
with a return to preferring face-to-face interactions as a recognise their limits.

40
14
Strategies
AT A GLANCE
Collaboration
Working with partners to bring your strategy to life.
Culture
Where business success is largely due to the beliefs and behaviours that determine how employees
and management interact internally and with stakeholders.
Digital
The application of digital and data systems, analytics and technology to innovate.
Diversification
Expanding existing capabilities into other sectors, such as from oil and gas to offshore wind.
Energy Transition
The next wave of technologies, beyond mature renewables, that will deliver the 2050 net zero carbon
goals of the UK.
Export
The development of new business growth by focusing on exporting and internationalisation in new
countries/ regions.
Innovation
Enhancedproducts,servicesandstrategiestomeetspecicclientneedsandbuild

41
Optimisation
The focus on improving internal decision making, costs, processes, agility, structures and enhancing
competitiveness.
People and Competency

The development, recruitment, training, retention and competency of skilled people, regarded as the key
enabler of company growth, and also the biggest challenge to address.
Resilience
The capacity to adapt and recover quickly from challenging market pressures and events.
Scale Up
To increase a business’ production, size or capacity in a marked and rapid way, above normal growth rates.
Service & solutions

ThefocusonaddingvaluetocustomersintheirOPEXandO&Mvaluechain,andthespecicbroad
of scope of work to provide a one-stop-shop or customercentric approach.
Sustainability
Taking responsibility, as part of your business strategy, to conserve natural resources and protect
global ecosystems.
Technology
Referstothespecicdevelopmentanduseoftechnologytosolveclients’problems.
Transformation
Company-wide step change actions, taken as part of a strategic approach to re-position.
Motivating and directing employees to optimise workplace productivity and promote professional growth.

42
Success
STORIES

43
MYRCAT R
Marine & Cargo Solutions

44 Success stories
AAL Shipping (AAL)

A multipurpose heavy lift carrier that continues to serve an evolving global energy
sector
dry bulk and general cargoes to any compass point with the
utmost efficiency, frequency and safety.
Felix Schoeller, Director In 2010, AAL set on a course of expansion. Typically

trading between Asia and Australia, the firm set about
building a global network served by fleet which was on
How is AAL Shipping thriving? the cusp of doubling from 14 to 30 vessels.
The onset of the global shipping crisis in 2008, combined However, getting to this point has not been straightforward,
with the crash in oil price in the middle of the last decade, not least because of the prolonged global shipping crisis
presented a complex picture in front of AAL Shipping and oil price crunch that arrived in the middle part of the
regarding the direction of its growth strategy. last decade. As a result, AAL needed to rethink its strategy
and come up with a new approach to better serve its
Determined to expand from a predominantly Asia- markets and customers.
Australia serving business, the company has spent much
of the last decade carefully expanding its fleet, building The solution
global trade lanes and responding to changing market
conditions. Today, thanks to its decentralised approach In response, the company, under the leadership of CEO
and young and highly flexible fleet of heavy lift vessels, Kyriacos Panayides, decided to decentralise its operations
it is able to serve a huge array of dynamic industries, and built localised hubs in its core markets to be closer to
including energy and in particular renewables. its clients.
The challenge In terms of its fleet, AAL has also tested different growth
models and has been actively involved in the design and
Singapore-based AAL Shipping has been supporting the build phase of its new vessels, a series of next generation,
industrial shipping needs of multiple sectors since 1995. multipurpose heavy lift ships fit for the needs of modern
industry. Indeed, one positive to emerge from the oil
Energy is one of those industries. Today, it is one of the top price crash of the mid-2010s was that it triggered a more
five multipurpose operators in the world catering to large urgent shift towards the development of renewable
renewables, oil and gas, and other energy project transport energy infrastructure around the world – this has proven
needs. Indeed, the company houses the capability to to strongly benefit AAL as its fleet is suited to the
transport its customers’ project heavy lift, breakbulk, steel, transportation needs of the renewables sector.
44 EIC Survive and Thrive 2023

Success stories 45
Key to the success of AAL’s growth and pivot over the past
decade has been the formidable base of knowledge that
exists within the company, which today employs around
110 people around the world. These are individuals that
know the world of shipping inside out, as well as the cargo
needs and make-up of numerous industries, reflected in
the superior design of its vessels that are integral in its
ability to meet the demands of the market.
Today, AAL’s fleet is one of the largest and youngest on

the market, comprising multiple vessel sizes with the
flexibility in design, configuration and equipment to allow
them to carry any cargo type and combination, including
breakbulk, project heavy lift, dry bulk commodities,
containers and general cargo. Story type
#service & solutions (main category)
It therefore is no coincidence that, despite global market #collaboration, #culture, #optimisation
challenges and upheavals witnessed over recent years,
AAL has won more global awards for customer service Benefits
than any other multipurpose heavy lift carrier – accolades • AAL Shipping has won many global awards for
bestowed by the same people with whom the company customer service.
works every day. • AAL’s fleet is one of the largest and youngest on the
market.
As the global shipping market continues to experience
unprecedented change, AAL’s ethics and brand essence Key findings
remain unwavering. The company’s approach to business For industry
is underpinned by the slogan ‘powered by partnerships’, • Be agile and follow your vision understanding your
the future very much being defined by the building of business environment, capabilities, and clients’
long-term relationships with stakeholders in the market needs.
which are based on respect, service and mutual benefit.
AAL Shipping at a glance:
About AAL Shipping Key products and services: maritime transport.
AAL Shipping (AAL) is a multiple award-winning Main industries served:

breakbulk, project heavy lift, steel and dry bulk • Oil and gas – 20%
commodity carrier which has since 1995 delivered • Conventional power – 20%
competitive solutions for the world’s most dynamic • Renewables – 30%
industry sectors including oil and gas, mining, • Others (infrastructure and construction) – 30%
energy, construction and agriculture. It is one of the
multipurpose shipping sector’s top five carriers by total Headquarters: Singapore
fleet DWT and has built a reputation for dependability Year established: 1995
and going the extra mile for its customers. Number of employees: 110

46 Success stories
ABB
Supporting the energy transition market with a collaborative approach
The solution
Collaboration has been front and centre of ABB’s strategy

for several reasons.
Matthew Capstick, Head of Sales
Simon Wynne, Local Division Manager First, European governments have differing aspirations
and goals around energy transition and net zero, and
their strategies are complex due to in-country nuances
How is ABB thriving? and local market dynamics. This results in different types
of projects emerging from country to country, meaning
Realising the opportunity to support energy transition ABB’s businesses in these markets are having to build up
journeys in the UK and Europe, ABB has pooled together skillsets to match. For instance, Denmark is already home
critical expertise that has previously been confined to their to advanced district heating infrastructure that ABB has
own national markets. Its UK and Norway teams have led been influential in developing – when the time comes in
the way, introducing a range of formal measures designed the UK, the Danish team’s expertise will prove invaluable.
to normalise collaboration and therefore enhance the value
it can bring to various industrial projects and challenges The UK market is also full of industrial clusters where
geared towards net zero. competition for funding threatens to stifle collaboration.
ABB sees that it is in a prime position to bring continuity
The challenge and share innovative solutions across clusters and is
already steering conversations in areas such as the North
ABB has long supported the energy sector around West Hydrogen Alliance – when the time comes to ramp
the world by pushing the boundaries of technological up activity and make progress, having the volume and
innovation to support smarter, automated processes. spread of expertise to draw upon will be a competitive
advantage.
In the UK, the company sees a wealth of opportunities
to contribute to not only the country’s energy ABB has been working on how to bring its combined
transition journey, but also a range of existing and capabilities to the table in the UK since the government
newly emerging subcategories that are on the verge of cemented its net zero plans in 2020.
scaling up rapidly.
Since then, the company has been identifying its strengths
But how can this potential be unlocked, and how can ABB across national borders and defining the potential benefits
position itself to play a key role? to be reaped in sharing expertise between divisions.
For the company’s UK and regional leadership, collaboration Collaboration between the UK and Norway teams has
both internally and externally is critical to maximising the been a particular focus. After face-to-face meetings were
potential of its own expertise and the wider value chain. held in both countries, the two teams began together

Success stories 47
a formalised model designed to maximise their shared

interests and build trust. The core guiding principles have
been defined along with the benefits expected to yield
for each stakeholder, while a continuous follow-up and
feedback loop has also been established with buy-in,
crucially, coming from the top.
Perhaps the most important developments have been

the introduction of combined targets, re-aligned sales
structure, amended job titles for those working between
the two countries, and appointment of a new programme
manager to oversee the collaboration.
The efforts invested so far are already starting to pay Story type
dividends. Two years ago, ABB had no joint pursuits in the #collaboration (main category)
UK and Norway in the fields of carbon capture, hydrogen #energy transition
and offshore wind – today, the standard approach is
cross-country with multiple large-scale pursuits currently Benefits
ongoing. In the UK market, this will involve adopting the • Profits from UK and Norway’s team collaboration.
already successful delivery model the ABB Norway team • ABB and Pace CCS are collaborating to improve
has established in its home market, which includes for CCS infrastructure implementation by industrial
example an EPC partnership with Aker. Conversely, learning companies.
from the UK market is benefiting opportunities in Norway.
Key findings
External collaborations have also picked up. For example, For industry
earlier this year ABB and UK-based Pace CCS joined • Collaborate transparently and openly, (Internally
forces to deliver a digital twin-based solution that reduces and externally). Consider what the different parties
the cost of integrating carbon capture and storage (CCS) can bring early on. Evaluate where parties can work
into new and existing industrial operations. Together, the together rather than compete. The winners will be
two companies will apply their respective expertise to those that are willing to collaborate.
make it easier for industrial companies to implement CCS
infrastructure by lowering the CAPEX and operational For government
investment required to enter this market. • Faster decision making linked to regulatory and
financial funding decisions. Risk of projects
Indeed, although a formidable global player in its own right, commencing if unknown or delayed.
ABB recognises that solving the energy transition puzzle
is a pursuit it cannot make headway in alone. By bringing ABB at a glance:
together expertise, both internally and through external Key products and services: Robotics and discreet
partnerships, the company is far better placed to support automation, electrification, motion and process
the UK and European markets on their net zero journeys. automation.
About ABB Main industries served:

• Industrial – 50%
ABB is a technology leader in electrification and automation, • Transport and Infrastructure – 33%
enabling a more sustainable and resource-efficient future. • Utilities – 17%
The company’s solutions connect engineering know-how
and software to optimize how things are manufactured, Headquarters: Zurich, Switzerland
moved, powered and operated. Building on more than Year established: 1988
130 years of excellence, ABB’s 105,000 employees are Number of employees: 1,800 (UK)
committed to driving innovations that accelerate industrial Revenue: £500m (UK)
transformation. Revenue from exports: 4% (UK)

48 Success stories
ABL Group
Scaling up to transition energy and oceans to net zero
on things, forcing Segal and the firm to cutback to a team
of around 200.
Ruben Segal, Chief Executive
Come 2017, the company was able to recalibrate and set
out on a course towards growth once again. The challenge
was laid out – to double in size every three years (through
How is ABL Group thriving? organic and inorganic growth) while increasing the share
of revenue derived through work in renewables to 50%.
Over the last 10 years, ABL Group has morphed into
a global enterprise with the largest footprint of any The solution
independent energy consultancy.
While expansion in the renewables segment has been
Starting out as one of the firm’s first employees, co- largely organic (expanding at a rate of around 40% per
founder and CEO Reuben Segal has built the business to year in line with its objective), a major driver of top line
a point where it now has 1,150 full-time equivalent staff expansion has been a series of acquisitions made over the
on its books, this workforce spread across 62 offices in 39 past five years.
countries. Much of this growth has been down to making
savvy acquisitions to broaden its capabilities and capacity, In 2019, the company acquired Braemar Technical Services,
a key component of this story being ABL Group’s bringing a move which immediately doubled its revenue base and
together of disciplines under one company culture in headcount. The following year, amid the covid pandemic,
which everyone is pulling in the same direction. ABL completed the purchase of LOC, another oil & gas
and renewables consultancy business which brought an
The journey has been far from plain sailing, the company additional 300 employees onto the books. By this time,
encountering many challenges along the decade-long path and thanks to organic growth adding another 100 staff,
it has trod – an ongoing journey which Segal wants to lead the firm reached a point of being 800-strong.
to a billion-dollar organisation in the future.
2021 represented a critical transition year, a period in
The challenge which Segal and his leadership worked to bring all entities
within the organisation together under a ‘one ABL’
Transforming a mid-sized company into a corporate giant umbrella.
is no easy task, especially for an energy sector consultancy
firm which only sells billable hours to clients. Segal himself moved into the position of CEO, part of
a wider restructure which has seen tremendous strides
For ABL Group, the growth journey in its first two years made in key areas such as shared services and people
was rapid. By 2015, it compromised of 350 employees, a development, the company’s leadership training services
trajectory that looked like continuing until the oil market going on to prove themselves as industry leading. Today,
crash that occurred between 2014-2016 put the brakes for instance, ABL operates a shadow board made up

Success stories 49
of under 30s to promote integration between the oil &

gas and renewables parts of the business, and provide a
bridge for younger recruits to advance their careers within
the organisation.
In June 2022, another acquisition (Add Energy) was made,

expanding the firm’s expertise in well engineering and
asset integrity management, while also enabling it to move
into carbon capture.
By the end of last year, ABL Group had grown into a

US$168 million business with a globally distributed team
of 1,150 people. Crucially, it is supporting its mission to Story type
help energy and oceans decarbonise by obtaining 50% of #scale up (main category)
its income from renewable and energy transition-related #people & competency
sectors by 2025 – a goal which it’s on target to achieve,
largely through organic growth, that has been driven by a Benefits
team which enjoys a near 100% retention rate. • Targeting 50% of income coming from renewables
and energy transition-related activities.
Meanwhile, ABL Group’s margins are also improving • Profits achieved double digits, share prices at a
alongside its expanding revenue base. Hovering around record high.
3% EBITA a few short years ago, profitability is now in
the double digits. This is feeding into a share price which Key findings
stands at a record high. For industry
• Take all learning opportunities with an open mind.
Indeed, momentum is clearly building, and Segal and • Deliver what you say – people lose faith quickly.
his team are showing no signs of slowing down. In April
this year, ABL Group closed the acquisition of AGR, a For government
multi-disciplinary engineering consultancy and software • Be honest and balanced. It’s impossible to flick a
company. The acquisition brings additional 400 headcount switch: have a real story of how to get to net zero.
and a further US$75m of revenues.
ABL Group at a glance:
By the end of 2024, the company wants to be Key products and services: Energy consultancy in
1,700-strong with an annual turnover of $300m, in line all energy and maritime/shipping sectors, with new
with its objective to be doubling in size every three years. mission statement – Working in energy and oceans to
If it carries on scaling at this rate, the ultimate ambition of de-risk and drive the energy transition.
becoming a billion-dollar organisation will soon be within
touching distance. Main industries served:
• Oil and gas – 49%
About ABL Group • Renewables – 31%
• Others (maritime/shipping) – 20%
ABL Group is a leading global independent energy and
marine consultant working in energy and oceans to de- Headquarters: London, UK
risk and drive the energy transition across the renewables, Year established: 2012 (AqualisBraemar LOC formed
maritime and oil & gas sectors, offering its clients the in 2020)
deepest pool of world-class expertise across marine and Number of employees: 1,500
engineering disciplines from more than 300 locations Revenue: £216m
worldwide. Revenue from exports: 42%

50 Success stories
Affinity Test Services

Breaking ground in Malaysia with a pioneering real-time X-ray inspection technique
How is Affinity Test Services thriving? The solution
Affinity Test Services has managed to break the mould in To establish itself in the market and make inroads, Affinity
the field of inspecting for corrosion under insulation (CUI) has been engaged in a prolonged awareness generating
in Malaysia. Up against a well-established method which exercise ever since it acquired this technological capability
oil and gas operators had relied upon for decades, the around five years ago.
company is starting to reap the rewards of a persistent
marketing and demonstration campaign that has seen it An immediate point in the company’s favour is that the
win over the minds of many. Today, it still stands as the problem it is helping to solve is a common one faced by oil
only non-destructive testing (NDT) company in Malaysia and gas asset operators. Indeed, corrosion under insulation
that has acquired real-time Xray inspection capabilities. is typically caused when insulation becomes wet. This can
happen for several reasons – water ingress beneath the
The challenge weather barrier (jacketing), moisture condensation from
steam tracing leaks, cooling tower drift or ambient air in
Malaysian firm Affinity Test Services first entered the humid and windy climates.
country’s oil and gas market a decade ago. A provider of
asset integrity management services, including routine Traditionally, the most common way to inspect for CUI
plant online inspection, turnaround inspection, fitness is to cut plugs in the insulation that can be removed to
for service assessment and non-destructive testing, the allow for ultrasonic testing. However, where Affinity
company stands as an important partner for operators differentiates from conventional methods lies in the fact
seeking to remain compliant with health and safety that radiography (Xrays) can be applied to detect corrosion
regulations in a range of important areas. without requiring the removal of insulation.
Central to its offering has been sustained investment in Although the benefits of utilising this technology are clear,
real time Xray, a pioneering and new method to inspect especially in regard to cutting asset downtime, achieving
the problem of corrosion under insulation across oil and buy-in during the early years was extremely challenging.
gas assets. Not only did operators generally prefer to open the
insulation cladding and perform visual inspection with their
However, as with many incumbent techniques and ways of own eyes, but the Xray technique Affinity was bringing to
doing things, especially in traditionally conversative markets market was also untested and unproven in Malaysia, with
such as this, transitioning to new methods is not always an no track record to help lure prospective customers.
easy sell. If an existing method isn’t broken, why fix it?

Success stories 51
There was only one viable solution to this problem. In

order to convince operators to place their faith in a new
CUI inspection technique, the company needed to put its
solution in front of as many decision-makers as possible.
This has required a full-scale programme of marketing and

demonstrations. Affinity has also performed site trials for
pilot projects and, slowly but surely, it began to develop an
all-important track record for performing this inspection
technique in Malaysia. And such is the confidence the
company has in the Xray solution, it committed to a Story type
significant initial investment to carry out the initial trial #technology (main category)
process without charging the end user. #resilience
This persistence has started to pay off. After several years Benefits
of proving the concept and generating awareness, the • Almost RM 15m in revenue in 2022.
technology is now being embedded into several operators’ • Affinity Test Services’ technology under use by
processes across Malaysia, with Affinity’s first contract for operators across Malaysia.
CUI inspection services being landed with PETRONAS
Carigali Sdn Bhd. Key findings
For industry
A growing orderbook has also contributed to stronger • Always be open minded to look for solutions.
revenues, with revenue for 2022 recorded at almost • Expand your networking to have access to
RM 15m (£2.6m) compared to around RM 8.4m (£1.5m) knowledge and information.
in 2018. Indeed, as more and more success stories and
real-world deployments are undertaken, Affinity will only For government
see momentum around its real-time Xray solution gather • Companies need incentives in terms of reduction in
strength. tax and more simplified administrative procedure.
About Affinity Test Services Affinity Test Services at a glance:

Key products and services: Asset integrity
Affinity Test Services, established in 2012 and previously management services including routine plant online
known as NDT Advances, is an organisation based in Miri, inspection, turnaround inspection, fitness for service
Sarawak, Malaysia. The company provides non-destructive assessment & non-destructive testing.
testing services and consultation in accordance with
international and national standards for quality and Main industries served:
integrity assurance. Affinity Test Services contributes • Oil and gas – 100%
solutions to oil and gas industries, civil or advanced
construction industries, plantation and agricultural, mining, Headquarters: Miri, Malaysia
powerplant or, essentially, any organisation within any Year established: 2012
industries which requires quality assurance and integrity Number of employees: 70
check via non-destructive test. Revenue: £2.6m

52 Success stories
AIS (Brazil)
Improving global group resilience thanks to locally driven Brazilian excellence
The solution
João Volpato, General Manager Before AIS placed greater emphasis on Brazil, the company was
selling just one thermal insulation product in the region – its
ContraTherm® C55 solution, a phenolic compound designed
for use in high temperature and high-pressure environments.
How is AIS Brazil thriving?
With C55, AIS Brazil had successfully established sales to
A leader in the engineering, manufacture and application of several major clients. However, the group subsequently
insulation and passive fire protection systems, buoyancy, identified opportunities to introduce ContraTherm® C25 into
and SURF (subsea, umbilical, riser and flowline) products, the market – a flexible, silicone compound insulation injection
AIS Brazil has helped the wider AIS Group futureproof moulded solution for dynamic structures subject to flexure.
with diversified interests in new markets.
Critically, C25 has a thermal performance that is superior
Thanks to an effective, locally-driven operation, strong to many alternative solutions offered in the market.
local client relations and a 100% Brazilian team driving However, convincing the Brazilian market of its qualities
innovation and automated manufacturing process was no easy task.
development, AIS Brazil now accounts for a fifth of the
wider organisation’s global revenue. In Brazil, Polyethene and Polyurethane had been used
almost universally. It was well-known and proven, making
The challenge it difficult for many prospects to consider adopting
alternative solutions. To bridge this gap and improve
In 2018, due to the oil price changes, AIS had to further awareness and understanding of C25, the firm opted to
diversify in order to keep its revenue and profits while market and deliver it in a localised manner to better fit the
project opportunities shrank as the market equally specific needs and context of the country.
became increasingly competitive. With ambitions to
expand its scope and capitalise on new opportunities in This was a long road, the company pursuing its localised
the export market, having the AIS subsidiary in Brazil is strategy over the years before receiving its first contract
key to supporting and achieving the group’s objectives. that involved C25 in Brazil in 2020. However, through its
qualification work to fit Petrobras’s requirements, AIS Brazil
The fortunes of the entire group became largely found the case study to showcase the value of investing in
dependent upon the success of the regional entity. a more suitable product to the rest of the country.
Specifically, the firm needed to successfully roll out new
thermal insulation solutions for subsea solutions in the Indeed, this provided the confidence for AIS to continue
Brazilian market in order to diversify the firm’s interests investing in the Brazilian market, the group transferring all its
and futureproof effectively in the face of tough global skills and technologies from the UK to the localised facility
market conditions. in Jaguariuna that is operated by 100% Brazilian employees.

Success stories 53
With that said, the regional subsidiary has also served to

drive significant group-wide innovation on several fronts.
Critically, local engineers at the factory successfully began

to automate their manufacturing processes, for another
product line known as flexible jackets for thermal and
passive fire protection applications. This was made possible
when a control system using QR codes that automates the
product conception process, with a 3D scanner used to
transfer design information automatically was developed.
Through each step of the production process, employees
can scan a QR code and check what’s required next. This
can be done anywhere in the world, making it possible to
check production information across any AIS factory.
Developed at AIS Brazil, this technology is now used in

Canada, with AIS planning to implement it within its factories
in the UK. Not only does it help to optimise processes,
control stock and production, and reduce waste, but equally
it ensures clients receive (with the product) a scheme detailing
assembly processes and maintenance procedures through Story type
scanning the QR code – this innovative process is unique to #digital (main category)
AIS, and they are proud to have conceptualised it in Brazil. #diversification
Ensuring AIS Brazil became an independent, effective, and Benefits

successful localised operation in this manner has been vital. • Increase in participation of the AIS global revenue,
from 3% to 20%.
The company arrived in Brazil in 2013, yet management of this • The automation of the manufacturing process
operation remained in Britain. However, in the face of the Lava created in Brazil are being implemented in other
Jato and the petroleum crises, there was a need to localise regions.
what was done internationally for costs purposes. Also, to gain
a better understanding of the local market, the group needed Key findings
to establish better relations with key clients in Brazil. For industry
• Take risks. There’s no growth without risks.
Indeed, through unwavering commitment driven by the • Understand the market around you and
localised AIS Brazil team, this has been successful. communicate.
Where the country previously represented less than 3% For government

of global revenue for AIS, it accounted for 20% in 2022. • Invest in the qualification of manpower and re-open
As AIS Brazil has grown, the group has as well. Indeed, the the technical schools.
regional operation initially started with just one individual
in 2013 and now comprises 75 local workers. AIS Brazil at a glance:
Key products and services: protection, insulation,
By successfully bringing what the wider group had and fire protection, flexible jackets, contrablast, passive
tailoring it for the local market while ensuring local fire protection, jet fire protection, renewables and
employees drive and enhance its national operations on automotive.
the ground, AIS Brazil has become the biggest player of
thermal insulation in the local market. Main industries served:
About AIS Brazil • Others (sugarcane burning, biomass) – 20%
AIS is a global leader in the engineering, manufacture, Headquarters: Gloucester, UK

and application of insulation and passive fire protection Year established: 2013
systems, buoyancy and SURF products. Their advanced Number of employees: 75
materials deliver mission-critical solutions for the energy, Revenue: £4.2m
industrial, automotive, chemical, and marine sectors. Revenue from exports: 5%

54 Success stories
AIS (UAE)
Turning to innovative, complex projects to differentiate in a busy market
What’s more, it is impossible to design a blanket solution
for all situations to fast-track production and gain a
Nitin Abdul, General Manager competitive edge this way, not least because AIS needs to
consider site conditions, interaction with other materials
at the location and other vendor’s products used at the
site, among other factors.
How is AIS thriving?
Faced with such a varied set of circumstances, in 2018 the
Faced with the prospect of falling behind and competing company’s leadership decided a critical strategic change
in a congested market for protective solutions, AIS made a was needed.
brave decision in 2018 to pivot towards more complex and
demanding projects. Its Middle East team has emerged as The solution
a global centre of excellence for the entire group, driving
the uptake of its highly advanced ContraFlex® system Rather than compete side-by-side with other players in
which is being implemented successfully in numerous the market, AIS made a major pivot to focus more on
parts of the world. distinctive projects that require innovative solutions.
The challenge Today, it positions itself as a value provider for its clients
and engages more in generating awareness about the
Any company reliant on custom from the oil and gas sector possibilities of its more creative ideas. In the process,
has faced headwinds over the past decade. Volatile prices the company’s Middle East branch has developed into a
and uncertainty across the supply chain have impacted centre of excellence for ContraFlex® products, the unit
clients’ confidence in committing to various types of spend, now serving as a key arm of support to the global team for
with many projects also put on hold during the pandemic. export projects.
For AIS, this is one of a series of challenges that are continually Indeed, the division has invested heavily in R&D and
changing based on where and for who it is working for. currently has 22 type approved products with third party
providers like Lloyd’s Register, ABS and DNV.
The company is engaged in the design, manufacture
and installation of bespoke and customisable high The jobs also require a highly personalised and bespoke
performance ContraFlex® systems for passive fire client service. Due to the varied nature of the challenges
protection, cryogenic jet protection, thermal insulation its customers face, AIS’s strategy is defined by an in-depth
(high temperature and cold conservation) and acoustic engineering process to provide the best solution that
protection. It is a niche market, but one that is still subject caters to the specific challenge faced by any single client.
to intense competition due to a lack of comprehensive The solution is always bespoke, with AIS investing large
standardisation that leaves implementation of projects amounts of time and effort into sharing its knowledge and
open to varying interpretations in different jurisdictions. operating practices with customers to build confidence.

Success stories 55
In one such project for a refinery in California, US, the company

provided passive fire protection solution for a roof structural
steel, walkway and tower for a retrofit project for a selective
catalytic reduction (SCR), an advanced active emissions
control technology system. Here, ContraFlex® was chosen as
a preferred product due to it being pre-engineered, offering
considerable savings in terms of time spent on installation
and cost – although the exact design could not be finalised
until engineering was finished, conventional solutions on the
market would take longer to implement.
With numerous project challenges posed for this scope

especially with space constraints and PFP integrity,
Contraflex® was able to solve most of the problem.
Compared to the conventional insulation available in the
market, ContraFlex® is easily removable for quick access Story type
for inspection and can be easily installed for critical #export (main category)
equipment’s which requires to have minimum downtime. #innovation
All the engineering, design and manufacturing and Benefits

logistics was overseen from AIS’s Middle East office in • An increase in turnover of 70% in Dubai.
Dubai, underlining its status as a go-to global centre of • AIS takes on new types of projects.
excellence for the wider group.
Key findings
Indeed, projects such as this are also helping to push For industry
revenues in the right direction. Over the 2021/2022 • Networking and collaboration will go a long way.
financial year, the Dubai team generated a 70% increase • Be resourceful, creative, and empathetic.
in turnover due to diversification and AIS strength in
providing solutions for challenging problems in fire For government
proofing and insulation. And although margins have been • Have clarity on international trade and policies.
pressured by difficult economic circumstances driving up
the cost of doing business, profitability remains stable. AIS at a glance:
Key products and services: Award-winning global
Thanks to the bold decision taken in 2018 to target more supplier of insulation, passive fire protection,
innovative projects, AIS has been able to differentiate buoyancy, and cable protection systems.
itself in what remains an ever-changing and challenging
marketplace. Main industries served:
About AIS • Conventional power – 20%
• Others – 10%
AIS is a global leader in the engineering, manufacture
and application of insulation and passive fire protection Headquarters: Gloucester, UK
systems, buoyancy, and SURF (subsea, umbilicals, risers Year established: 2009
and flowlines) products. AIS’ advanced materials deliver Number of employees: 31
mission-critical solutions for the energy, industrial, Revenue: £3.9m
automotive, renewables, chemical, and marine sectors. Revenue from exports: 75%

56 Success stories
AIS (UK)
Reaching the £100m revenue milestone
experienced its lowest annual profit performance in years.
Critically, AIS moved away from upstream production,
focusing on organic diversification as it entered the
LNG, offshore wind, battery protection and downstream
Andrew Bennion, Managing Director markets, seeing a degree of success in developing a new
Rob Barrow, Marketing Manager range of innovative products.
Looking towards export opportunities, AIS identified Brazil

How is AIS thriving? (where it already had a subsidiary) as a region of realistic
growth, and China due to the number of shipyards where
AIS has celebrated its 30th anniversary by reaching the its solutions are well suited.
mammoth £100m revenue milestone. Thanks to the
transformative 2022 acquisition of CRP Subsea, an £8m The vast majority of AIS’ products are made in the
investment in expanding its UK manufacturing footprint, UK before being exported, this approach protected
efforts to scale up its buoyancy technology team from zero employment opportunities and its intellectual property in
to 250 in five years, and successful, rapid diversification its home market. However, in pursuing its export strategy,
into LNG and offshore wind, the company is well placed the company quickly saw a spike in demand for its products
to excel for decades to come. in various locations. This, in turn, required investment in
manufacturing facilities and a higher headcount.
The challenge
To fulfil the added requirement for buoyancy products
AIS arrived at a critical juncture in 2018. The company had in Brazil, for example, the company invested over £8m in
been grappling with issues stemming from the oil price crash a new 65,000-square-metre manufacturing facility and
– a challenge faced by many of its industry counterparts. state-of-the-art equipment.
At that time, the firm only dealt with upstream production,
making it incredibly vulnerable to changes within a volatile That said, the strategic move to target new product
market. Critically, the oil price changes impacted revenue, markets and regions wasn’t without its challenges. Indeed,
while profits and available work opportunities also shrank these were strategic aims that would take time to gather
as the market became increasingly competitive. momentum, with other firms typically utilising aggressive
strategies to win a larger market share.
AIS recognised it needed to adapt to overcome these
challenges, opting to pursue a new two-pronged strategy Here, however, an opportunity arose that would enable
of diversification and export opportunities. AIS to advance its diversification and export strategy
more quickly. In 2022, AIS acquired CRP Subsea – a
The solution specialist in polymer and syntactic foam-based buoyancy
and protection products for the offshore renewables and
This strategic shift began in 2018 after the company oil and gas industries.

Success stories 57
This move was key. By adding new product ranges with a

proven, reputable track record, highly skilled personnel and
state-of-the-art facilities, the acquisition has significantly
accelerated AIS’ growth strategy.
Ever since, thanks to its enhanced capabilities and

capacity, the firm has been able to take on bigger projects Story type
with higher profitability. #diversification (main category)
#transformation
Crucially, the new synergies have delivered cost savings
and improvements in AIS’ margins, and the firm also Benefits
successfully consolidated its position with a substantial • Company now worth over £100m for the first time.
increase in market share. • More facilities, capabilities, products and staff.
AIS is now at the forefront of all the key sectors it Key findings
operates in across the renewable and oil and gas markets, For industry
both locally and globally. It is the second largest player in • A solid business plan is key to success, but you also
the market for CPS, second in buoyancy, first in subsea need the determination to see it through.
insulation, and first for bend protection. • Gather as much working capital as possible whilst
everything is going well.
Owing to these massive leaps forward, AIS has become
a £100m-plus business for the first time in its 30-year For government
history, the company now competes even stronger in a • Return to the values of trade apprenticeships. They
range of new regions and markets. Furthermore, it is a are not only key to the success of the business, but
much larger entity than it was previously. Its buoyancy they provide lucrative careers as well.
technology team has grown from zero to 250 in the space
of just five years, for example. AIS at a glance:
Key products and services: Award-winning global
Between its new facilities, capabilities, products and a supplier of insulation, passive fire protection,
vastly expanded headcount, the company has reached buoyancy, and cable protection systems.
its milestone birthday in perhaps the best position it has
ever been in, leaving behind any thoughts of adversity as Main industries served:
it eyes a new and prosperous future. • Oil and gas – 46%
• Renewables – 9%
About AIS • Others (automotive, marine, industrial, buoyancy) –
45%
AIS is a global leader in the engineering, manufacture
and application of insulation and passive fire protection Headquarters: Gloucester, UK
systems, buoyancy, and SURF (subsea, umbilicals, risers Year established: 1993
and flowlines) products. AIS’ advanced materials deliver Number of employees: 487 (UK), 632 (Global)
mission-critical solutions for the energy, industrial, Revenue: £100m
automotive, chemical, and marine sectors. Revenue from exports: 85%

58 Success stories
Alderley
Accelerating innovation through cultural transformation
offering significantly and better serve its customers, not only
in the oil and gas industry, but energy transition technology
Andrew Charles, Aftermarket markets such as hydrogen and CCS too.
Operations & Projects Manager
Not only did this limit the scope for growth and innovation,
but it meant the erosion of margins in the face of strong
How is Alderley thriving? competition and unfavourable economic periods, with
Alderley recording losses in both 2018 and 2019.
End-to-end integrated services provider Alderley has
achieved a complete cultural transformation, updating and The solution
enhancing its innovation platform to improve its prospects.
Underpinned by the launch of a new Special Projects team To turn the tide, a new market-led strategy designed
to deliver high-quality, quick-turn solutions for its clients, the specifically to put the organisation on a new, more
company has firmly moved from loss to profit making, with prosperous and sustainable path was agreed. As with all
significant growth potential extending far beyond 2023. business strategies, it needed its people to succeed. It was
decided that three key business behaviours would form
The challenge the foundations of this strategic change: agility, ownership,
and customer focus.
Established in 1989, Alderley has enjoyed a lengthy and
successful history in the oil and gas industry, carving out A company-wide audit in the form of a culture survey was key
its niche as an independent expert in system integration, to understanding the challenges faced by Alderley. Here, two
with a primary focus on capital equipment. However, even inter-departmental and international teams were empowered
established enterprises must negotiate challenges and by Alderley senior management to investigate and discuss the
periods of flux. existing culture of the organisation, and workshop potential
business improvement ideas to address the challenges.
During the 2010s, Alderley found itself facing stiff
competition in the market, with several large and ongoing Once the business improvement process kicked-off, the
shifts leaving it in a situation where standing still and not firm evaluated various business changes implemented by
innovating simply became an unsustainable strategy. other companies and examined how effective they may be
in the Alderley context. Solutions were presented to the
The company also opted to conduct a wide-ranging internal board and approved.
culture study in 2019 involving team members from all corners
of the business. By doing so, it identified several issues, The use of inter-departmental teams was critical here,
including siloed teams, a lack of agility and few new initiatives extending the reach of the initiative significantly through
that were limiting the company’s progress. The study found several “culture champions”. Through a continued process
that product development and innovation was not prioritised of communication and engagement as well as workshop
within the existing culture, leaving it unable to improve its activities and feedback, previously perceived “walls”

Success stories 59
were broken down across previously siloed locations and

departments, energising the team through cross-functional
working that helped to inspire new initiatives. Key strategic
hires further cemented this newly collaborative approach,
including Martin Shaw as the Group’s CFO and Nicholas
Doherty as the Group’s Head of Strategic Sourcing.
One key initiative that emerged was the establishment

of a new Special Projects division in 2021. Composed
of a team of both internally and externally recruited
specialists, its goal is to fast-track projects, accelerate the
firm’s innovation cycles, and deliver high-quality, quick-
turn solutions for Alderley’s clients.
Equally, this plugged a gap in the firm’s offering between Story type
its capital projects and field service work. This included #culture (main category)
upgrade and retrofit projects and small, fast-track capital #transformation
projects, which Alderley had not focused on for over 20
years. Through a complete operational and cultural overhaul, Benefits
Alderley’s capability to develop new processes, products • Sustainable profitability reached in 2022.
and services has been supercharged, owing to refined focus • Revenues and profit to reach £80m and £3m,
and improved use of resources across the group. respectively, in 2023.
The strategic shift has enabled Alderley to achieve status Key findings
as an agile, customer-focused and solutions-oriented For industry
business, improving its innovation culture. New ideas are • Take organisational culture as one of your greatest
now deemed critical to the business and given priority. allies.
This ensures that the company continues to adapt and • Always be ready to challenge the status quo.
futureproof itself.
For government
The results have also been telling. After successive losses, • Consider smaller, innovative companies when
Alderley returned to sustainable profitability in 2022 – a writing export finance support policies. They
position it hopes to build upon in 2023 and beyond. By are engines for growth, exports, and energy
the end of this year, the firm expects revenues to reach sustainability.
£80m and profits to exceed £3m.
Alderley at a glance:
Without question, the company has turned a corner, with Key products and services: Advanced digital,
significant growth potential on the horizon. mechanical, hydraulic, electrical, process, metering,
consultancy, systems, and aftermarket services.
About Alderley
Main industries served:
Alderley is the end-to-end integrated solutions provider • Oil and gas – 95%
for the global energy industry. The company’s priority is • Energy Transition – 5%
to maximise the value and efficiency of its clients’ energy
assets – from concept to operation and beyond. Alderley’s Headquarters: Wickwar, UK
regional teams work closely with its clients to understand Year established: 1989
their needs and deliver the right solutions – with the Number of employees: 400
flexibility, integrity, and customer service you would Revenue: £80m
expect from a family business. Revenue from exports: 85%

60 Success stories
Alypz
Broadening horizons on multiple fronts
Indeed, the company was always confident that it could
perform well elsewhere given the many years of experience
serving multinational companies such as Shell, ExxonMobil
and Murphy Oil in Malaysia. However, little did it know a crash
in oil price and global pandemic lied in wait, two challenges
Hanafi Abu Bakar, Hd BD/Mgr BD
that would test the resolve and resilience of the company
Anne L Awan, COO
during the implementation of its bold expansion strategy.
Amer Ezzadeen, Financial Controller
The solution
How is Alypz thriving? Having secured the contract in Turkmenistan, Alypz

went on to receive project orders in Singapore, Myanmar
Realising that it could no longer afford to rely on generating and Indonesia. Alypz finally set up a permanent office in
income from oil and gas-related activities from clients in Jogjakarta, Indonesia in 2015.
Malaysia, Alypz has successfully diversified in a number of
ways. As well as establishing itself in international markets This was a natural move, not least because Alypz had
such as Kuwait and Indonesia, the company has opened recruited and trained the relevant Indonesian personnel
up new service lines and is also reaping the benefits of many years prior. It enabled the firm to better engage
investing in R&D and product development – all of this with prospective clients in Indonesia and made the
being achieved amid a series of challenges in the form of implementation of a permanent base in the market easier.
the oil price crash and Covid-19 pandemic. The company also brought on board an experienced
member of the international and local regulatory body as
The challenge a consultant to guide it in making inroads in the country.
Alypz has been in the business of providing radiation safety Then arrived the first major obstacle. With business
and NORM (natural occurring radioactive material) solutions revenues largely deriving from clients operating in the oil
and services in Malaysia since 1985. With its own radioactivity and gas sector, the oil price drop of 2015 had a major impact
and dosimetry laboratory, the company is fully in control of and prompted a change in thinking in three major ways.
the delivery time and quality of service, a capability which has
enabled it to assume the position of local market leader. First, the company knew it had to diversify its customer
base not just geographically, but also beyond its traditional
However, growth in its home market was becoming bounds of the oil and gas market and into sectors such as
stagnant, the company realising that it was time to mineral processing and healthcare. Second, it needed to
venture beyond Malaysia. In 2013, Alypz was awarded a diversify its service offering for existing and new clients,
three-year contract by Petronas Carigali in Turkmenistan adding additional value to its proposition through the
to provide NORM Services, a success which inspired it to provision of training and OSL services, for example. And
push on with growing into more international markets. third, Alypz recognised the need to ramp up investment

Success stories 61
in R&D and collaboration with local universities to help

develop new products that would complement and
enhances its services.
Undeterred, in 2016 the company made a major breakthrough

when the Kuwait Oil Company (KOC) awarded it with a two-
year contract to provide services around NORM study and
NORM procedures development. Two more major contracts
from KOC followed in 2019 in what has proven to be a
flourishing client relationship, the latest project concerning
the disposal of radioactive materials.
Shortly after securing the work in 2019, the Covid-19

pandemic arrived. This put the brakes on immediately,
with the projects virtually lying idle for months due to
lockdown. In addition, Alypz found that acquiring financing
from its local Malaysian banks was difficult due to their
unfamiliarity with the risks involved in contract scopes
and being in a new market. Story type
#resilience (main category)
However, thanks to its ability to innovate and adapt to new #export
customs, regulations and ways of doing business, the firm
has been able to establish firm roots in both Kuwait and Benefits
Indonesia. Today, its export revenues represent more than • Alypz now commanding a market share of 40%
60% of total turnover, with over 40% of its workforce now approximately.
being located outside of Malaysia. Profitability is also on • About 60% of turnover currently coming from
an upward trajectory, with provisional estimates for 2022 exports.
showing a strong growth in margins from 0% (2021) to 17%.
Key findings
Meanwhile, since venturing into the OSL service line For industry
back in 2015, the company managed to recover the initial • Take advantage of the financial assistance given by
investment within two years and now commands a market the government such as grants and soft loans.
share of around 40%. And its R&D activities are also bearing • A prior understanding on different countries’
fruit, the company securing an order from Bangladesh working culture, bureaucracies, and regulations can
Atomic Energy Commission for a new product developed help in mitigating or avoiding any unwanted issues
in collaboration with Multimedia University (MMU). By May that can be costly when venturing abroad.
2023, Alypz expects to have launched its very own survey
meter which is currently undergoing SIRIM inspections. For government
• Government agencies should provide local
Despite encountering numerous bumps along the way, intelligence that covers more countries.
Alypz has determinedly stuck to its diversification strategy.
Today, it stands as a much broader enterprise that is no Alypz at a glance:
longer dependent on serving oil and gas customers in its Key products and services: Radiological and
home market, and there is plenty more to come yet. environmental consultancy.
About Alypz Main industries served:

Alypz was incorporated as Asia Lab (Malaysia) Sdn. Bhd. in • Others (healthcare and industries associated with
1985 and was the first company in Malaysia to have dual radioactive materials and radiation equipment) –
accreditation from the Atomic Energy Licensing Board 35%
(AELB) and the Ministry of Health. Alypz is the market
leader serving all the top oil and gas companies in NORM/ Headquarters: Subang Jaya, Malaysia
TENORM monitoring services in ASEAN region, as well as Year established: 1985
providing comprehensive radiation safety services across Number of employees: 89
various industries involved with radioactive materials and Revenue: £2.5m
irradiating apparatus. Revenue from exports: 60%

62 Success stories
Ankura
Making the most of international opportunities through rapid, collaborative, agile
acquisitions
period. Nevertheless, the firm is continuing to grow by
focusing on its purpose and cultural alignment of the
Marc Guilliet, Managing Director teams.
The solution
How is Ankura Consulting thriving? As an example, Ankura’s global footprint provided Ankura
with the ability to target the German market more
Since acquiring a significant segment of Navigant effectively, enabling it to enhance its capabilities in a new
Consulting in 2018, Ankura’s global footprint and services market and build regional relationships that have become
offering in Europe and the Middle East has grown the cornerstone of the company’s success in the region.
considerably. Alongside a global collaborative approach,
the success of the firm’s strategic growth is founded on Initially, Ankura launched two practices in Germany. The
a purpose-built firm combining service offerings to deploy first, Risk, Forensics & Compliance help clients protect,
the best team and support to clients globally. create and recover value by identifying, analysing and
managing risks and undertaking investigations for
The challenge their businesses. The second, Construction Disputes
& Advisory, is focused on offering technical advice and
Just a few years back Ankura laid out bold ambitions for expert opinion to help clients assess and mitigate the risks
global expansion which included the Europe and Middle inherent to infrastructure and capital projects.
East regions where it committed to provide clients with
access to independent expert and advisory services by Ankura’s global business has actively supported the
leveraging local, highly experienced and best-in-class growth of the German team enabling a rapid scale up
teams with a global reach. of operations within the region which see it working
with clients such as European energy companies
Germany was a key market as part of this strategic with global operations. Culturally Ankura is team
expansion in Europe. The business recognised the potential oriented and collaborative with significant cross-group
and importance of establishing a local team; subsequently initiatives, enabling the organisation to succeed across
an acquisition plan was considered to enable the firm to geographies by sharing critical expertise proactively
roll out iterative service lines and lay the foundations for and openly.
establishing an Ankura team in the market.
This latest venture is just one strand of an exciting Ankura
Of course, building presence from the ground up is story that has unfolded in recent years, underpinning the
never an easy task, particularly in this case as it was set firm’s wider global growth programme that has seen it
against a backdrop of economic crisis and the pandemic enhance its footprint and offering globally.

Success stories 63
In 2021, Ankura not only opened its German office in

Frankfurt, it also opened its India offices in Mumbai and
Gurugram, and launched its European Restructuring practice.
In 2022, the growth and export story continued with the
launch of its global Sports Advisory practice and the opening
of additional offices in Shanghai (China) and Riyadh (KSA).
This impressive expansion strategy shows no signs of

slowing in 2023 with the firm acquiring leading sovereign
debt advisor Newstate Partners, US-China strategy
advisory firm GreenPoint Group, and Chartwell Compliance,
a leading global regulatory compliance and risk management
firm. It has also launched its Middle East Turnaround &
Restructuring practice and Australia Disputes & Economics
practice, as well as opening an office in Melbourne, Australia.
As a result of these efforts, the company’s global

headcount has expanded significantly with over 2,000 Story type
professionals globally. #export (main category)
#collaboration, #scale up
Ankura’s proven ability to bring newly acquired teams on
board and move into new territories is presenting exciting Benefits
opportunities for its clients as well as for the development of • Successful global expansion
its team members. Ankura is perfectly positioned to continue • Enhanced local service offering to support clients
with its ambitious growth plans and expansion across the globally.
globe through the remainder of 2023 and beyond.
Key findings
With a collaborative approach, industry leading expertise For industry
and multidisciplinary capabilities, the company continues • Be a purpose-built firm combining service offerings
to assist clients in protecting, creating and recovering to deploy the best teams to support the client.
value in more and more territories across the globe. • Be a leader for your team, right now more than
ever.
About Ankura Consulting
For government
Ankura is an independent global expert services and • Open channels to be able to do business globally.
advisory firm that delivers services and end-to-end
solutions to help clients at critical inflection points Ankura Consulting at a glance:
related to conflict, crisis, performance, risk, strategy and Key products and services: Consultancy.
transformation. Collaborative lateral thinking, hard-earned
experience, expertise and multidisciplinary capabilities Headquarters: New York, US
drive results and Ankura is unrivalled in its ability to assist Year established: 2014
clients to Protect, Create and Recover Value. Number of employees: 2,000+

64 Success stories
Applica
A smart scale-up operation that is already paying dividends
establishing itself. Its small team of six to seven employees
was ticking along nicely, until the Ukraine crisis changed
Matthew Hallé, CEO the energy landscape almost overnight.
Applica was forced to re-think, re-invest and re-build.

Needing to scale to stay relevant and take advantage of
How is Applica thriving? a huge opportunity, the key challenge was to grow its
capacity to serve projects like its larger competitors – but,
Rather than having a year to bed into the energy project crucially, without losing the niche culture and family buzz
resourcing and recruitment scene, the events of 2022 that defined its DNA.
threw several challenges in the direction of Applica.
Russia’s invasion into Ukraine shook up the market and The solution
created an uptick in demand from other energy producing
regions – if the company did not respond appropriately by Doing so has been far from straightforward. Funding
scaling up to fulfil this demand, it faced being left behind continues to be a challenge for players in the energy
by its (often larger) competitors. sector, with finance firms reluctant to commit to the
industry despite it having a reasonable long-term outlook.
CEO Matt Halle, supported by his team, built up the Meanwhile, in Applica’s home market of the UK, there
company’s credibility and relationships by speaking to remains uncertainty as to what the long-term investment
project directors on the ground, understanding exactly policy looks like, which is limiting investor confidence.
their needs and responding appropriately. This personal
approach lay the right foundations for the company which However, the company’s shareholders, along with its
has seen Applica double its own headcount and revenues employees and other key stakeholders, have been
in record time. extremely supportive throughout the scaling up process.
The challenge Central to Applica’s growth has been a restructuring of

the organisation built around several important new
Having opened its doors to the energy sector in 2018, appointments including Recruitment Manager for the UK
recruiting specialist Applica was embedding itself into and Europe, Country Manager for Norway and two senior
various projects as a reliable resourcing partner – from leadership positions: Finance Director and Commercial
FEED to commissioning, its hallmark is going on project Director.
journeys through entire lifecycles with clients.
Equally important has been safeguarding the original team
Come 2022, amid the global economic hardships caused who had built the company to this point in its journey.
by the pandemic, the ambition very much was to continue Here, Applica has plotted out a three-year plan for

Success stories 65
each member to help them bed into the new structure,

providing coaching and development opportunities along
the way for those whose roles are being changed.
In terms of scaling up commercially, Applica had already

built relationships with key personnel in the industry and
this proved to be invaluable. It allowed the organization to
identify exactly where to focus its energies.
Story type
Using its well-established credibility and experience, the #scale up (main category)
company has been sticking to its gameplan by finding #culture
smart and controlled ways to scale through acquiring new
clients and increasing the value of existing relationships. Benefits
For its largest client, Applica has increased the scope of • Revenue doubled within a year.
resourcing support it provides, moving into the execution • Growing the company’s presence in the US.
phase of projects and now serving as the number one
recruitment partner on the site. Revenue derived from Key findings
this account has grown from £1m in 2021 to £3m in 2022. For industry
• Surround yourself with the right people, listen to
Applica is also ramping up work with global clients them and don’t be scared to ask questions.
supporting them with recruitment for projects in the UK, • Learn to trust your team even if you don’t really
Norway and France.New client wins are helping to grow understand or agree with their decisions.
the company’s presence in the US energy market, a new
win is already delivering on a $1.5m contract with a view For government
to extending the partnership to the UK. • Develop a reverse engineering plan from 2050 net
zero goals to our current state in 2023.
The business now stands on a firm financial footing.
Thanks to the scaling up exercise, revenues have more Applica at a glance:
than doubled in the space of 12 months to reach £11m Key products and services: Resourcing of projects
in 2022 – a far cry from the £1m recorded in 2019. With globally, specializing in the projects space of the
momentum on its side, Applica looks set to thrive for energy industry. Technical or commercial contractors.
some time to come.
About Applica • Oil and gas – 75%
• Renewables – 12.5%
The team at Applica are people-centric, diligent, agile, • Energy Transition – 12.5%
and innovative. The company’s head office, based in
Manchester, serves both the UK market and acts as its Headquarters: Manchester, UK
global recruitment hub. Applica also has businesses Year established: 2018
registered in both Houston and Stavanger to support the Number of employees: 14
energy markets of North America and Scandinavia and Revenue: £11m
have solutions in place to support Europe and Asia. Revenue from exports: 40%

66 Success stories
Arcadis
Breaking down silos to develop a global, connected business
How is Arcadis thriving? The solution
Arcadis has unlocked the passion of its employees to To avoid missing opportunities, Arcadis decided to veer
contribute to the worldwide sustainable and net zero away from its typical approach to three-year strategies
journey. Missing out on energy transition opportunities when the time came to launch the latest plan at the start
due to its previously siloed structure, the company now of 2021.
operates with a series of global, expert-led communities
that is helping it to make the most of its talent pool and Energy sector expertise have been pulled into a dedicated
collaborate across geographic borders. energy transition team which now operates at a global
level and focuses on five key growth areas – offshore
The challenge wind, industrial decarbonisation, hydrogen, energy
systems, and energy infrastructure and storage. The firm
Established for well over 130 years and with a has moved some of its leadership to the division to drive
workforce of around 37,000, built asset consultant the five growth areas (referred to as communities), with
developer Arcadis has well and truly made a name for the majority of the teams made up of personnel located in
itself in building and engineering circles all around the the former regional businesses.
world.
This will drive a more joined-up approach to doing business
But for even the most longstanding of companies, in the energy sector, removing the reliance on ‘who
remaining relevant and known in the energy sector is knows who’ to prompt collaboration between disparate
never a straightforward task, especially given the cyclical colleagues and teams. These communities of expert
and volatile nature of the industry which is forcing virtually practice are now much more cohesive, each office now
all stakeholders to remain on their toes. utilising shared case studies and competencies. Indeed,
the major upshot for clients is that they are now receiving
For Arcadis, until the turn of the decade, the energy more focused propositions and a consistent experience
arena had been all but closed off for quite some time. Its across different geographic regions, Arcadis moving skills
brand, despite having a huge and long legacy behind it, across the globe to suit customer needs.
was not well known. Previous three-year strategy cycles
had revolved around the company’s numerous country Creating these communities has been no straightforward
specific silos, limiting the prospect for collaboration or speedy task. It has required a significant investment
between divisions. If the energy market was to be tapped of time and energy to formulate, the company creating a
successfully, this needed to change. series of digital basecamps to calibrate internal systems

Success stories 67
Story type
#transformation (main category)
#energy transition, #service & solutions
Benefits
• Clients are now receiving more focused
and access the experts needed to form these new propositions and a consistent experience.
groups. • Stronger net zero strategy.
This process is indicative of what is now a digital leadership Key findings

and cultural model that has been rolled out across Arcadis For industry
on a global scale. Each Arcadian takes part in a digital • In terms of strategy, you need to deliver targets
bootcamp, an initiative that has proven transformational through focus and scale. Investing in the people
so far and helped to break down the silos which had within the organization should be the number 1
previously been holding it back. Today, the company priority.
positions itself as global player with focus on scale and • Sustainability also needs to be at the heart of
digital entrepreneurship. your operations. Addressing climate change and
biodiversity loss are the greatest challenges of our
In terms of the renewed focus on the energy sector, generation and we all need to play our part.
achieving buy-in for such a wholesale change in approach
has been relatively straightforward, not least because For government
it fits in well with the wider company push towards • It’s necessary to have a stable regulatory framework
sustainability and mission to improve people’s quality that promotes and accelerates the Energy Transition
of life through the work it delivers. What’s more, many will help companies meet the challenge and invest
colleagues were passionate about contributing towards in people and technologies for the long term.
net zero and sustainable objectives but left frustrated
by organisational barriers which stifled their potential to Arcadis at a glance:
make a difference. Removing these barriers was therefore Key products and services: Consultancy, architectural
always going to be received well by the majority of design, design and engineering, natural and built
employees. assets, business advisory, health and safety,
environmental remediation, sustainability, program,
The company is now into the third year of the strategy, project and cost management, infrastructure, water,
and so far the signs are promising. Revenues are on the buildings and environment.
up, margins have improved, debts are down and the
project pipeline is looking healthier. As Arcadis begins Main industries served:
to ponder its next three-year cycle, it can do so from an • Oil and gas – 2%
entirely different starting point to the one it faced at the • Nuclear power – 2%
end of 2020. • Renewables – 4%
• Energy Transition – 2%
About Arcadis • Others (energy: transmission and distribution) - 5%
• Others (non-energy) - 85%
Arcadis is the leading global design and engineering
consultancy for natural and built assets. Applying its deep Headquarters: Amsterdam, Netherlands
market sector insights and collective design, consultancy, Year established: 1888
engineering, project and management services they work Number of employees: 37,000
in partnership with their clients to deliver exceptional and Revenue: £2.63bn
sustainable outcomes throughout the lifecycle of their Revenue from exports: 44% (EMEA), 43% (Americas),
natural and built assets. 13% (APAC)

70 Success stories
Arrow
A decade of continuous improvement to build a sustainable long-term business
The solution
Amir Chini, GM Like many start-up businesses, Arrow was built up from
scratch. Arriving in Malaysia with no foundations in the
ground, the company’s skeleton team adopted the old-
fashioned way of drumming up business – knocking on
How is Arrow thriving? doors, making calls, and approaching any potential clients
with gusto and enthusiasm.
A brand-new market entrant in 2012/2013, Arrow
has spent the past decade refining its processes and What the firm did have at its disposal was a directory
proposition to customers in order to establish itself in the of industry players it could reach out to. Leveraging this
market and be better able to face shocks such as those information, the company built out its network slowly but
caused by the Covid pandemic. This has involved taking steadily, travelling 600km per week in its early days to
on board a lot of feedback and making investments into sell direct and meet more than 1,000 companies that had
new capabilities, including setting up its own machining potential to make use of the forging items it produced.
shop and offering consultancy style services to clients.
Through sheer persistence over four to five years, Arrow
Today, the firm is reaping the rewards of its persistent and found a stable footing in Malaysia. While it endured a lot
tireless approach, recording back to back years of solid of frustration and rejection, the company always held the
revenues which reached US$2m in 2022. belief it would succeed due to the strength and quality of the
product it was providing. Indeed, customers have expressed
The challenge that they admire the firm for its ‘never-give-up’ attitude,
while most of its competitors have become friends over
In 2012, Arrow opened its doors as a supplier of key parts time through collaborating to gain more business together.
for power plants. Producing and distributing the likes of
manual valves, control valves, motorised valve bolts, nuts, A crucial milestone has been the development of an in-house
pipes and gaskets of numerous sizes and materials, the machining shop. This has allowed some products which are
company launched in the Malaysian market as a totally produced in China to be machined locally in Malaysia, a
unknown entity. capability which has enabled Arrow to keep costs down
and deliver faster turnaround times to customers.
To not only survive its first few years but thrive in the long-
term, building a business that is sustainable and futureproofed Remaining cost competitive has been especially important,
against shocks (including the likes of a global pandemic later not least because clients are extremely sensitive to price
down the line), Arrow knew it had to be responsive and willing changes. To support this further, Arrow continually seeks
to learn on the job. The journey, its leadership anticipated, to find ways of providing greater value for money by
would not be straightforward – however, do things right, and reducing its overheads, be it through restructuring or
the rewards would start to emerge in time. reorganising the production line, appointing additional

Success stories 71
subsidiaries, or improving its stock range. Regarding the

latter, the company keeps high stock levels of common
items such as valves, flanges, gaskets, bolts and nuts.
Another key strategy adopted, this time in 2017, was to

pivot to a more consultative offering. Here, Arrow has
positioned itself as a go-to for solving customer problems
with no obligations on the part of client to commit to
any product orders. In doing so, the company has been
able to acquire important business information, at the
same time bringing new products and fresh approaches
to challenges to its customers’ attention. Further, it has
also enabled Arrow to successfully target larger clients
with the budgets to keep the company financially viable,
including the likes of Petronas and RAPID Pengerang.
The most recent hurdle arrived in 2020 in the form of

the Covid pandemic. The inability to travel freely severely
hampered day-to-day operations – however, as has been
shown through the previous decade, Arrow was able to
think on its feet and adapt.
The company used this period to expand outside of Story type

Malaysia, leveraging digital communication methods #resilience (main category)
to approach new customers, many of which were now #collaboration
more willing to listen to its proposals. As a result, Arrow
has now entered new markets within Asia and Latin Benefits
America. Meanwhile, following the worst of the pandemic • Revenue of US$2m in 2022.
disruption, the firm came back into its local Malaysian • Arrow entered new markets in Asia and Latin
market all the stronger by providing greater support and America.
supply experience to local fabricators, EPCC firms, ship
repairers and engineering companies. Key findings
For industry
Today, Arrow is on a firm financial and reputational footing. • Turn rejection into an opportunity to grow your
The past two years have seen steady performance, with business.
revenue growing to US$2m in 2022. Now, with its feet
firmly on the ground and value being demonstrated Arrow at a glance:
to customers in Malaysia and further afield with every Key products and services: Supply of customised
passing week, the future looks decidedly more certain forging parts.
than when the company started knocking on doors.
About Arrow • Oil and gas – 60%
• Conventional power – 10%
Arrow has about 20 years of experience of producing • Renewables – 10%
different type of flanges. The company’s products have • Others (structural industry, palm oil, ship building,
been exported to the Middle East and Southeast Asia ship maintenance) – 20%
successfully. Arrow is equipped with the most modern
facilities and a highly qualified workforce, enabling the Headquarters: Petaling Jaya, Malaysia
offering of the widest possible range of flanges. Arrow’s Year established: 2012
product line embodies the highest standards in quality, Number of employees: 8
productivity and dependability. Revenue from exports: 60%

68 Success stories
ARUP Philippines
A critical friend to a complex hillside solar plant in the Philippines
For ARUP, a UK-headquartered firm of designers, planners,
engineers, consultants and technical specialists, that has been
Lynn Dimayuga, Associate Director – present in the Philippines since 1990, this prompted the need
Energy Business Leader to project itself as the go-to expert in infrastructure works
in the country. With vast experience working on renewables
projects around the world, ARUP’s mission is to shape a
How is ARUP thriving? better world by being what it terms a ‘critical friend’ for clients
– a go-to organisation that can help resolve complex issues.
ARUP is drawing on all its experience in supporting solar
farm developments and operating in awkward terrains to This was put to the test when a client asked for support on
help the Philippines on its much-needed energy transition developing a utility scale solar PV plant on an undulating
journey. Faced with a grid unable to provide a stable hillside terrain.
power supply during the pandemic, the government has
ramped up its efforts to facilitate more renewable energy The solution
developments, with solar plants identified as a critical
component of its energy security strategy. To make the Hillside solar farms represent an increasingly popular
most of the opportunity, projects need to be delivered alternative to taking up large, flat swathes of land – they
on challenging parcels of land, especially mountainous increase the usability of awkward terrain, provide clean
terrains that are in abundant supply across the country. renewable energy to the grid and improve employment
Here, ARUP has risen to the challenge, supporting a client opportunities for local communities.
in what is a first of its kind solar plant development in the
country. In this instance, ARUP was working with a contractor that
had never developed a solar power plant, much less on a
The challenge hillside, the project also being the first of its kind in the
Philippines. The company also lacked the exact experience,
As well as presenting major health and economic but it was able to draw on the lessons it learned from
challenges, the covid pandemic highlighted the fragility of developing complex projects on very similar kinds of
the Philippines’ energy security. Power outages became terrain and its extensive solar design knowledge to make
rampant and regular as the national grid was not able to it work – indeed, ARUP has garnered a reputation for
provide consistent service to the whole population, this mastering complex projects, and applied the same process
prompting the government to accelerate projects on of critical thinking and creativity to this development.
renewables.
First, it had to identify the risks and challenges of the

Success stories 69
project site, a key task being to find safe, stable and

accessible ground, as well as optimal places to position
panels to maximise solar yield. Here, the company applied
its familiarity with the local climate and site conditions to
identify probable risks to the project for the long term,
mapping the constraints of the terrain and setting a safe Story type
clearance for development. #service & solutions (main category)
#optimisation, #sustainability
To expedite best panel positioning in consideration of
best sun capture, it developed its own automated tool to Benefits
generate the optimal layout of the plant, saving it around • ARUP becoming a leader in supporting the hillside
a third of the time compared with completing the process solar energy market in the Philippines.
manually and helping ARUP to secure two more sites of • Client’s first solar project in the country successfully
similar complexity. The automated layout keeps track of all developed.
individual panel data, creating a mine of information that
underpins crucial decision making and enables maximum Key findings
performance to be derived. For industry
• Challenges are part of any project or business, one
The credentials of ARUP’s approach were tested on must know their limits and leverage on the skills and
numerous occasions by the elements. For example, two capabilities of their team members to supplement
typhoons were encountered during the construction their skills.
phase which challenged the design of the plant regarding • Be updated on current events and know the market
wind direction and uplift force. The mounting structure so that a holistic view on things can be provided.
foundation design held up to scrutiny, granting the client
confidence that the plant could withstand severe climatic For government
conditions. • Ease off a few challenges for developers in
regard to meeting their construction timelines by
Projects like this will serve ARUP well in the future. As streamlining and permitting process.
its track record for supporting hillside solar developments
in the Philippines continues to strengthen, it looks ARUP Philippines at a glance:
well placed to play an important role in building up the Key products and services: Specialist services on
renewable energy capacity the county badly needs to infrastructure, buildings, management consulting,
ensure its energy security. economics and planning.
About ARUP Main industries served:

Dedicated to sustainable development, ARUP is a
collection of designers, consultants and experts working Headquarters: London, UK
globally with more than 40 offices in seven continents. Year established: 1990
Founded to be both humane and excellent, ARUP Number of employees: 200
collaborates with clients and partners using imagination, Revenue: £1.9bn
technology and rigour to shape a better world. Revenue from exports: 30%

72 Success stories
ASCO
Growth and diversification inspired by international markets
in service and safety. For France, safe, reliable and efficient
service needed to be the core of ASCO’s offering.
Fraser Stewart, Managing Director –
International From that point on, the firm no longer aimed to differentiate
based on price but on service. By doing a much better
job, ASCO would get a better return through better client
How is ASCO thriving? relationships. Sustainability also became a core focus
under France from the end of 2019 onwards, not just from
ASCO is successfully finding inspiration in its people, an environmental perspective, but equally looking at raising
offering safe, lean, efficient and sustainable end-to- the longer-term value of the business. Overall business
end logistics solutions. Having appointed a new CEO, performance was improving, underpinned by a culture of
Peter France, in 2018, the company has transformed its respect and equality. However, some early speed bumps
prospects through a renewed strategy underpinned by an were encountered.
emphasis on safety, service and sustainability, and a more
focussed approach to international growth. ASCO faced a difficult situation when the covid pandemic
arrived, the firm erring on the side of caution in opting
The challenge to request that higher paid staff take a temporary pay
cut. This helped limit the number of long-term headcount
Created in 1967, ASCO has developed an esteemed reductions to less than 10% of global staff. These difficult
reputation as a leading logistics and materials management decisions ultimately paid dividends, with 2020 turning out
company for the global energy industry. Providing a range not to be as gloomy as originally foreseen and subsequent
of services, ASCO is an established and highly regarded years returning to sustainable growth and the recruitment
enterprise. The company has been working to expand of additional heads.
its operational footprint into its first new international
locations since 2013, which has come with challenges More recently, the war in Ukraine has also pushed the
around resources, training and local content requirements. company to be more reactive. Where ASCO had previously
been looking at diversifying away from oil and gas, it is now
Additionally, operating in a cyclical sector, ASCO anticipated to continue to be the majority of ASCO’s business
experienced particularly highly competitive price market for at least the next decade, with oil and gas continuing to
during the last Oil & Gas downturn and a change in offer business opportunities in a tough market.
management has served to steady the ship, return to
growth and set ASCO on a new, more prosperous path. Beyond these reactive responses, perhaps the most
significant change for ASCO in the past half decade has
The solution been its approach to international growth. Prior to 2018,
the company had taken what can only be described as a
Since Peter France came on board as CEO in 2018, he scattergun approach to international markets, reacting to
pivoted the company’s strategic focus towards excellence any inquiry, no matter where it originated from.

Success stories 73
From 2018 onwards, it was decided that a more coherent

and planned approach was needed, undertaking country
specific due diligence in advance of establishment.
Critically, management felt that the firm had the capacity
to develop three new overseas opportunities in parallel
in order to give them the necessary resource and focus.
Resultantly, Suriname, Senegal and Mexico were targeted,
and while the latter provided significant difficulty and
ultimately did not progress, ASCO became established on
the ground in Senegal in 2021 and Suriname in 2022.
In each of these new markets, the idea is to have local people

eventually driving each respective regional business. In
Senegal, for example, while much of the business is currently
driven by expats, the aim is to hand over each role to locals Story type
over a two-to-five-year period. To support this, each expat #people & competency (main category)
position has a local deputy attached to accelerate knowledge #export
transfer through an understudy process. A team of subject
matter experts, expats and HR personnel carefully designed Benefits
the operating model for the new locations with layouts, • Building long-term capabilities allows economic
workflows and personnel org charts to ensure there was no benefits to be apportioned equitably in the local
disruption to ongoing operations in any of ASCO’s locations. economy.
• Developing a positive workplace culture ensures the
With Senegal and Suriname now established, ASCO is now business strategy is successful.
looking ahead to additional potential locations, the plan • Providing expat opportunities allows knowledge
being to develop out from existing presence and hubs. sharing and process standardisation.
Indeed, having become profitable in two of these initial three
overseas ventures which mark ASCO’s first new international Key findings
footprints in almost 10 years, the firm now sees international For industry
growth as a profitable, high growth and managed risk avenue. • Have confidence in yourself and your decisions.
It’s easy to be swayed off strategy when things get
The change in company culture has also had a huge impact, hard.
with employees that have been with ASCO for more than • Invest in local capability in the markets you operate.
two decades reporting that the atmosphere is much Politics and culture issues fare better when
better, more open and inclusive, creating a collaborative, managed by someone local.
positive and happier place to work.
For government
Company performance has continued to improve owing • Focus on local capability, not local content. Your
to these changes. While revenue was down 10% in 2020 economy will benefit more.
vs 2019 due to the pandemic, it rebounded to 2019 levels
in 2021, and then expanded in 2022, with this growth ASCO at a glance:
anticipated to continue in 2023. While ASCO recognises Key products and services: Logistics, transport and
that there are still improvement opportunities that need freight, supply base management, warehousing and
to be addressed, good progress has been made that is only storage, materials management, marine services,
likely to gather momentum through the remainder of this training, lifting and assurance, personnel and
year and beyond. environmental services.
About ASCO Main industries served:

ASCO is a leading logistics and materials management • Renewables – 4%
company for the global energy industry. ASCO’s safe, lean,
efficient, and sustainable end-to-end solutions include Headquarters: Aberdeen, UK
logistics, transport and freight, supply base management, Year established: 1967
warehousing and storage, materials management, fuel Number of employees: 1,500
and bulk provision, marine services, training, lifting and Revenue: £419m (2021)
assurance, personnel and environmental services. Revenue from exports: 25%

74 Success stories
asset55
Delivering immense value for clients with a growing portfolio of digital solutions
with significant focus on operational systems, consultancy
management and engineering support for CAPEX and
Les Bartlett, Global Development Lead OPEX projects.
With the help of an experienced team of software

development experts, the company launched in late 2012
How is asset55 thriving? and after two years of development, in 2014, Calculate
was born. A highly successful product, the firm has
Building up its reputation as a digital solutions specialist managed to secure business from three quarters of UK
in the energy industry, largely thanks to its market leading energy operators, with Calculate also established as a
flange management software Calculate, asset55 has flange management software solution of choice.
kicked on since 2018, expanding significantly through the
introduction of three additional platforms. However, despite the successes of its primary product,
the founders knew that they couldn’t afford to sit still and
With its product portfolio now also comprising of Operate solely rely on one solution alone. Resultantly, the decision
(optimal planning and controlled execution in operation), was taken to kick on and develop new software solutions
Execute (optimal planning and controlled execution of to diversify and consolidate its position in the market.
capital projects) and Validate (automated validation to
secure data integrity), the firm has doubled its users and The solution
demonstrated a proven ability to keep on delivering value
with these new solutions. This decision came to fruition in 2018 as asset55 began
to expand its portfolio of software platforms from one to
The challenge four, the firm launching three further key products in the
five ensuing years.
More than 10 years ago, Robert Noble, a pioneer in flange
management with torque wrench manufacturer, Hedley Execute was the first of these – a solution specifically
Purvis, and Mike Rudd, who was Managing Director, identified designed to optimise planning and controlled execution in
an opportunity. With 60 years’ experience between them, the operation, launched in 2018. Come 2021, Operate was then
pair saw the industry was on precipice of immense change. added to the collection – a solution designed to optimise
operations including shutdown and turnaround projects.
Operators were looking for ways to move away from outdated And in 2022, Validate was rolled out – a capital project
spreadsheet-based processes and unlock efficiencies by engineering platform with data validation capabilities.
embracing cutting-edge, industry-tailored digital solutions.
Significant efforts went into developing each of
To capitalise on this shift, the pair set up asset55 – a these solutions to ensure they were addressing the
software technology engineering company specialising unique requirements of the market. To achieve this,
in the development of solutions for the energy sector, asset55 brought in industry subject matter experts and

Success stories 75
experienced individuals from operator backgrounds to

complement its internal software development team.
With this combination, the solutions were successfully
developed in house.
While each of these distinct platforms is undoubtedly

sophisticated, the firm has faced several challenges
regarding its go-to-market strategies and deployment.
In the case of Operate, for example, the company faced
some resistance from industry players regarding its efforts
to change the mindset of shutdowns and turnarounds
and optimise processes by reducing helicopter flights,
manpower requirements offshore, and more. In such
instances, it has had to be innovative, adapting its
marketing techniques to specifically target those willing to
embrace innovative solutions. Story type
#digital (main category)
Despite some kickback, the immense value of the firm’s #innovation, #optimisation
portfolio has been demonstrated by massive increases in
uptake. While it had already achieved 10,000 annual users Benefits
five years ago, this has now doubled to more than 20,000, • A single client saved US$2m by using Execute.
with the firm’s annual licence renewal rate also reaching • asset55’s users have doubled to more than 20,000
95% despite ongoing economic difficulties. Within this, in five years.
the firm is now also serving 30 operators – up from eight
in 2018. Key findings
For industry
Indeed, asset55’s solutions have proven their worth among • The energy industry, where there are major
its client base which has benefitted significantly through opportunities in digital, should embrace technology
the adoption of Calculate, Execute, Operate and Validate. more. Still afraid to take risks.
In the case of Execute, for example, one client has saved
more than US$2m simply by optimising its installation and For government
fabrication sequence. • Open up boundaries: stop making business harder
and instead embrace technology that’s out there to
Despite being a company just 11 years in the making, help.
momentum continues to gather at pace at asset55. And
with an impressive, proven ability to deliver efficiency, asset55 at a glance:
productivity, operational and cost benefits to its clients, Key products and services: Software technology
the company’s reputation and customer base are only engineering company.
likely to continue growing.
About asset55 • Oil and gas – 85%
At its core, asset55 is a software engineering technology • Renewables – 3%
company. It brings together highly experienced industry • Conventional power – 2%
engineers combined with leading software developers to • Nuclear power – 2%
drive real and positive change within the energy sector. • Others (data centres) – 4%
Established in 2012, asset55 has grown organically to
become a leading and trusted provider of SaaS technology Headquarters: Sunderland, UK
to the wider energy market whilst maintaining clear Year established: 2012
objectives to support customers on critical operations. Number of employees: 26
asset55 ensures to go above and beyond expectations on Revenue: £4.5m
delivery and execution of its services. Revenue from exports: 50%

76 Success stories
ASYAD
Oman’s shining example of ESG-driven success
The solution
Dr Essam Al Sheibany, Group VP Asyad began developing ESG strategies in 2022, placing
Sustainability them at the centre of a wider transformation with a
clear focus on KPIs for 2023. This ESG framework didn’t
just focus on the decarbonisation of the business but
How is Asyad thriving? was split into four key areas: environmental leadership,
thriving workplace, community engagement, and robust
Asyad is a leading example of ESG-led success in Oman, governance and sustainable growth.
owing to its explicit commitments to reform. By prioritising
sustainability in its business strategy and culture, the Asyad also established a culture of transparency by
Group has achieved record-breaking profits, secured implementing disclosure mechanisms to maximise
key funding to further expand its fleet, and achieved a accountability and setting quantifiable milestones to track
Gold Rating on the Oman Sustainability Index for two progress across its multiple units. This not only enhances
consecutive years. Asyad’s commitment to promoting Asyad’s reputation as a sustainable and responsible
positive change attracts top talent to the organisation. business, but it also enables the Group to attract funding
from ESG-led investors.
The challenge
The benefits of this approach are already apparent. Asyad
Sustainability is currently the most prominent trend became the first Omani company to secure sustainability
transforming the energy industry, and Oman-based link loans based on its low CO2 emissions, securing
integrated logistics solutions provider Asyad recognises US$35m in funding to purchase two new vessels. Beyond
the importance of evolving and adapting to sustainability financing, Asyad has received a Gold Rating on the Oman
demands for its future success. Sustainability Index for two consecutive years and is
publishing its first Sustainability Report in 2023, which will
Asyad is committed to decarbonising its operations, not only also undergo an international ESG rating process to verify
to meet regulatory changes, but also to play an impactful its measurement and commitment mechanisms.
role in the global drive to net zero. To that end, the company
is undergoing a comprehensive transformation, with Furthermore, Asyad has recognised major international
particular focus on its shipping business and deep seaports. shipping lines’ increased demands for ports to disclose
Sustainability is deeply ingrained into the company’s values ESG commitments and decarbonisation plans, as well
and culture, reflecting the impetus with which Asyad as regulatory and operational demands for reporting on
approaches this issue. The logistics group acknowledges carbon footprint and emissions targets.
that achieving true sustainability, as a global enterprise, is
a challenging task that cannot be accomplished alone. It The sustainability transformation has also enabled Asyad to
requires collaboration and partnerships to drive innovation better meet ESG and regulatory demands worlwide, with its
and the sharing of knowledge and best practices. expansive portfolio comprising three deep ports, two free

Success stories 77
zones, and an economic zone supported by Oman’s five

airports, alongside a world-class road network. In addition,
the company operates a wide array of maritime services,
with one of the largest drydocks in the Middle East and a
diversified fleet of more than 80 vessels, supported by a
sea transport network that connects Oman to key ports
across the region and the globe.
Although there have been challenges along the way, including

difficulty finding and retaining the right talents with the
expertise required, as well as the increasing cost of adopting
key sustainability technologies and solutions, Asyad has
remained committed to change. Partnerships have proven
key, with the Group collaborating with Sultan Qaboos
University on biofuel projects and building partnerships with
international corporations to create clean fuel alternatives
and find further frontiers for emission reduction.
Through these efforts, Asyad has established itself as a

corporate role model not just for Oman, but internationally. Its
credibility has enabled the Group to attract and retain promising
talents and a wider client base, garnering a reputation as one of
the world’s elite energy transporters in terms of sustainability.
As a result, Asyad has been able to secure better financing
to sustain its growth and fleet expansion goals. In fact, profit-
wise, 2022 was a record-breaking year for Asyad, with some Story type
segments that were previously underperforming financially #sustainability (main category)
becoming self-sustaining. #culture, #transformation
Overall, the Group’s commitment to sustainability has Benefits

been crucial to its success and its capacity to develop and • Record profit in 2022 and new self-sustaining
adapt in line with sustainability requirements being viewed segments.
as critical to its future. By integrating sustainability into its • ESG entirely embraced and reputation elevated.
core values and culture, and emphasising transparency,
collaboration, and partnerships, Asyad has become an Key findings
example of ESG-led success. For industry
• Build your strategy to evolve under ESG.
About Asyad
For government
Asyad Group is Oman’s global integrated logistics service • ESG should be self-driven, regulation is a key
provider. As a US$4bn enterprise and backed by an initial enabler to take businesses to this direction.
US$20bn in government infrastructure spending, Asyad
is attracting customers keen to leverage the country’s Asyad at a glance:
integrated logistics facilities and establish manufacturing. Key products and services: Integrated logistics
Asyad Group provides integrated logistics solutions across solutions.
ports, free zones and shipping. It comprises three deep
ports, two free zones and an economic zone supported by Main industries served:
Oman’s five airports, and a world-class road network. In • Oil and gas – 90%
addition, Asyad operates full maritime services with one • Others – 10%
of the largest drydock in the Middle East and a diversified
fleet of more than 60 vessels, supported by a sea transport Headquarters: Muscat, Oman
network that connects Oman to key ports across the Year established: 2016
globe. The Group offers integrated logistics services to Number of employees: +8,000
meet market needs and support Oman’s economy. Revenue: around £1bn

78 Success stories
ATPI Travel
Moving clients from A to B to Z during the pandemic
and at the right cost. The logistical implications of the
COVID-19 pandemic meant its clients needed the
Lynn Coutts, Managing Director company more than ever. With employees stuck in
Middle East worldwide locations and the need to keep their assets and
businesses operating, ATPI was up against an enormous
logistical challenge.
How is ATPI Travel thriving?
The solution
Thanks to its can-do attitude, meticulous preparation and
contacts with transportation stakeholders, ATPI Travel has Fortunately, the company was prepared for emergency
proven itself as a true partner to oil and gas businesses situations. For example, it had already tried, tested and
during the pandemic. In times of difficulty with workforces moved to working from home to ensure its infrastructure
potentially left stranded during lockdowns, the company was ready to provide support when the time came. In
found solutions, so much so that it has emerged stronger addition, ATPI has specialist relationships with airlines to
from the covid period than when it entered – a remarkable understand the availability, changes and options open to
feat for a firm operating in the travel business. it based on the knowledge of its clients’ travellers’ origins,
destinations and locations. As a result, it already had the
The challenge planning and preparation required to carve out routes and
avenues of support.
ATPI is one of the most experienced and long-established
travel management companies in the travel industry, with Despite the turmoil caused by covid and international
parts of the business trading since 1919. It handles the travel shutdowns, ATPI managed to retain 75% of its
exclusive air, road and sea travel requirements of clients, workforce to ensure it maintained 24/7 coverage.
as well as hotel bookings and visa applications. The firm
manages travel arrangements for businesses of many The team was, unsurprisingly, kept busy. Throughout the
shapes and sizes, including office-based corporations, period, it was constantly engaging with clients, monitoring and
sports clubs, events organisers and industrial enterprises. booking repatriation flights, routings and other options – as
a company, it chartered over 200 flights, creating accessible
As a specialist oil and gas travel management company, routings into key locations around the world where others
ATPI has always offered a bespoke, flexible and scalable could not, especially in West Africa and Saudi Arabia.
travel offering to each individual client. However, during
the last few years as an industry specialist company it has In Angola, for example, ATPI was called upon to support a
been faced with unimaginable complexities and challenges world leading marine services provider to the oil and gas
as a result of the covid pandemic. sector, the client’s footprint comprising 8,000 staff and
more than 400 vessels spread across 44 countries. The
Due to the nature of the sector, ATPI deals with critical prospect of keeping crew onboard for prolonged periods
travel – getting people from A to B to Z on time, safely amid lockdown and travel restrictions was a risk that the

Success stories 79
company wanted to mitigate – this was especially the case

in Luanda, Angola, where lockdowns prevented any travel
into the country. Recognising the need to act quickly, APTI
organised the chartering of a flight for the client and an
additional third party to reduce costs. Thanks to this quick
resolution, the health and wellbeing of the employees
concerned was safeguarded.
During the pandemic period, ATPI managed the impressive

feat of maintaining operations at around 50% of its usual
capacity. What’s more, in some regions it increased its
business, enabling it to emerge from a deeply challenging
period stronger than before due to its ability to respond
quickly and pick up new clients. Indeed, the company
has showcased the value of a true travel partner and
the ability to support, scale, guide, advise and work pro-
actively alongside clients.
ATPI was particularly proud to be associated with the

development of the Qatar Airlines seafarers lounge
concept at Qatar airport. ATPI’s friends and colleagues
at Qatar Airlines recognised the unique nature of the Story type
seafaring community and the constant nature of the #resilience (main category)
business they provide and services they need despite the #people & competency
world shutting down most travel routes. Qatar Airlines
took the decision to maintain this unique concept at the Benefits
heart of the airport despite the world returning “almost” • About 50% of usual capacity was maintained during
to normal. the pandemic.
• Business and services expanded.
Although unforeseen, in many ways the pandemic has laid
the foundation for ATPI to offer increased service options. Key findings
Today, it offers self-booking tools for oil and gas customers, For industry
as well as award winning sustainability packages, reporting, • Understand not just your business, but also that of
offsetting and safety/security tracking. Meanwhile, its real your clients.
time analytical data, automated approval tools, API feeds, • Be adaptable to market and customers’ needs.
and tools for invoicing, crew management, and quality
and duty of care reports help to remove many manual For government
processes. All of this, and more, is available through a • Develop travel policies that focus on the value that
single sign on booking portal. international partnerships allow.
And backed by a loyal, motivated team that continues ATPI at a glance:

to work around the clock, ATPI will continue to fulfil its Key products and services: Business travel
mission statement and raison d’etre – delivering what management.
really matters.
About ATPI Travel • Oil and gas – 70%
• Others (sports, corporate, meetings & events,
The ATPI Group provides world-leading corporate travel marine) – 30%
and events solutions to organisations operating in a
variety of specialist sectors around the world. Comprising Headquarters: London, UK
of ATPI Corporate Travel, Direct ATPI, ATPI Marine & Year established: 1919
Energy, ATPI Corporate Events, ATPI Mining & Resources Number of employees: 1900 (global), 100 (Middle
and ATPI Sports Events, each brand is united by the aim to East)
deliver what really matters to every single customer. Revenue: £1bn

80 Success stories
AVEVA
Taking AIM at process visualisation and data optimisation
thus only utilised where it absolutely has to be.
Roy Calder, Oil & Gas Industry Often, this data takes the form of engineering documents
Principal New Energies contained either in physical files or document management
systems as PDFs. However, the need to access this data at
speed is becoming increasingly paramount as experienced
How is AVEVA thriving? staff retire or move on, leaving knowledge base to
dissipates into the ether.
Identifying demand among world leading energy players
for improved, data-driven asset management solutions, This is the challenge that has been set by several oil & gas
AVEVA has spent the last eight years developing and fine players – they now require systems that enable this data
tuning its Asset Information Management (AIM) digital to be identified quickly and accessed in a usable manner.
twin, a tool that has quickly become the go-to solution
for asset and process visualisation and data optimisation. The solution
The challenge These demands presented AVEVA with an opportunity, the

firm responding by embarking on a focused development
Founded in 1967 and a fully owned subsidiary of Schneider programme that was informed by engaging the specific
Electric, AVEVA has a formidable reputation in the energy needs of several early adopters.
market, supporting international oil companies (IOCs) and
national oil companies (NOCs) with industrial software and Initially, AVEVA was faced with a singular question from a
service solutions across the US, EU, Middle East and Asia. US IOC and developed a visualisation concept for that client.
By utilising a visual approach, supported by a common
In recent years, the firm has witnessed its typical client base data management structure that enables complex search
turning their attentions towards a data-driven, information capabilities, the ability to find individual pieces of equipment
management approach, targeting areas such as process carrying out a specific duty (i.e. control valves in high
efficiency improvements, asset management and predictive pressure steam lines) can be achieved in seconds, not hours.
maintenance for good reason. Indeed, while such operators
invest billions in their assets, poor asset information can In seeing the value this digital twin delivered, the firm
cost them several percentage points of revenues. decided that this model needed to be productised and
adapted so that it could be made fit for purpose for
AVEVA recognised that data was becoming the new different industries, not just for oil & gas. Here, it settled
operational currency for its clients. Today, many operators on the name AVEVA Information Management, or AIM.
are aware of the fact that they are sitting on vast amounts
of data that is either not used or difficult to access, and Beginning developments in 2015, AIM is still going strong

Success stories 81
today. Indeed, while the initial focus of the programme

was centred around engineering, this gradually expanded
to take in operational data as well as transactional data
including maintenance information, and external third-
party data management relevant to key client operations.
AVEVA now has a product management team of experts

in Cambridge, UK dedicated to driving AIM that is
supplemented by a coding team in Hyderabad, India and
used as needed. Equally, much of the success of the project
has been down to the firm’s existing software and setup.
By combining the suitable technology and experience that
it already had, alongside its closeknit relationships with Story type
its customers, the firm has been well placed to develop a #digital (main category)
highly intuitive and capable solution. #collaboration
There have, of course, been challenges. Indeed, the firm Benefits

had to find a way to deal with materials developed in • Major contract wins as a result of AIM.
competitor tools, overcoming this by opting to integrate • Expansion of the team to Cambridge, Hyderabad
information rather than tools. However, the launch of and India.
AIM in 2017 and its subsequent developments, including
the launch of the cloud-based version of AIM in 2021, Key findings
continue to be a resounding success. For industry
• Focus on a clear need from the market, adopt an
The firm has secured several major contracts as a result, agile project approach and don´t be afraid to make
including its work in supporting BP in the Azerbaijan mistakes.
Central oilfield project (ACE). Here, BP provided the • Listen to your customers and shareholders and
laser scan data which AVEVA could then use to build its understand their concern and needs. Think of what
digital twin 3D models. BP also asked KBR to help out the business model should be in 5 or 10 years
with the data hosting on their intranet systems, leading based on what you have heard and drive your
AVEVA to build a compete model that identifies all of the business sustainability in that direction.
firm’s equipment, with KBR now populating that database.
Having signed the first contact on ACE in 2021, a new For government
contract was then agreed at the end of 2022, signifying • Focus on vision, not rhetoric.
the success of the project in delivering major performance • Government should adjust thinking towards the
improvements. common good and not just what people in London,
Brussels or Washington are paid to say.
In an era where the customer experience is king, AIM is
only likely to continue attracting greater attention. With AVEVA at a glance:
its open architecture approach that is geared to be much Key products and services: Industrial software,
more flexible for clients and ability deliver the entire from energy to infrastructure, manufacturing,
end-to-end process in constructing highly advanced transportation, mining and chemicals.
digital twins, the firm now has a highly attractive and
futureproofed tool underpinning its model. Main industries served:
About AVEVA • Power – 18%
• Others (chemicals, marine, manufacturing,
AVEVA is a global leader in industrial software, sparking infrastructure, process industries) – 44%
ingenuity to drive responsible use of the world’s
resources. The company’s secure industrial cloud platform Headquarters: Cambridge, UK
and applications enable businesses to harness the power Year established: 1967
of their information and improve collaboration with Number of employees: 6,500
customers, suppliers and partners. Revenue: £1.18bn

82 Success stories
Baker Hughes
Bringing pioneering inspection and monitoring capabilities to the world of
flexible pipes
Baker Hughes needed an additional solution to monitor
and inspect flexible pipes in a simple and non-intrusive
Victor Farid, Business Leader manner. This capability would enable users to keep pipes
operational for longer and boost on-site safety.
The solution
How is Baker Hughes thriving?
The journey to this new market has been one of
Baker Hughes has successfully adapted and applied perseverance and patience.
its inspection and monitoring services to flexible pipe
structures, which are commonly used in the oil and gas A major engineering challenge involved developing the
industry. For many years, the company developed and mechanical components that transmit signals and capture
introduced a solution to the market. Now, the objective the response, as well as the ability to read the collected
is to build on the success it has experienced in regions like data. Concerning the latter, the key to success was to
Brazil, where the solution has proven its worth significantly. clean and interpret data using improved algorithms
and software to eliminate excess noise in offshore
The challenge environments.
For many years, the R&D company called MAPS Development took six years. By 2016, Baker Hughes had
Technology has been developing and deploying magnet- reached a stage where it could successfully demonstrate
based technology to identify stress in steel structures its system in flexible pipes; however, reliability and
supporting a variety of industries. With venture capital consistency was needed before the technology could be
backing, the company effectively applied its solutions to commercialised. Three years later, Baker Hughes achieved
the US rail market, among others. the crucial milestone of fully qualifying its technology
through blind testing.
In 2013, the company was acquired by GE’s oil and gas
division (now part of Baker Hughes) with the intention of Today, Baker Hughes can offer a full inspection and early
applying the technology to flexible pipe systems as well. warning service for operators of flexible pipe networks.
These pipe networks are commonly found in offshore and This process involves collecting and analysing data on
subsea oil and gas developments because they enhance wires, which can number up to 70 in each pipe. When
production and asset integrity, while reducing the overall unloaded wires are detected, reports and alerts are sent
cost of pipeline systems. so remedial action can be taken before serious problems
arise. Importantly, the system can also indicate safe
However, these pipe systems are susceptible to service life, informing users when pipes will require repair
mechanical failure, which, if undetected, can cause issues or replacement and allowing them to plan maintenance
that significantly reduce the life of assets. Consequently, work accordingly.

Success stories 83
To date, Baker Hughes has completed 118 inspections,

with its current ambition being to scale up the system’s
deployment.
This endeavour should be aided by the fact that Baker

Hughes has a highly successful real-world case study
under its belt involving an independent energy firm in
Brazil. Located off the coast in Sergipe state, the operation
entails transporting LNG from offshore assets to be
converted back into gas on land and commercialised. After
noticing the abnormal shapes within the riser, the client
suspected there might be issues with its wires, prompting Story type
an inspection from Baker Hughes that confirmed this #service & solutions (main category)
suspicion. With no previous measures to compare against, #technology
a full-time monitor was installed to analyse the evolution of
the damage. As Baker Hughes also manufactures flexible Benefits
pipes, it was able to use the data to assess whether the • Client saved US$38m in revenues by using Baker
pipe still maintained integrity. Hughes’ solution.
• Over 110 inspections completed so far, with plans
Due to the monitoring capability provided by Baker to scale up.
Hughes, the client has been able to continue producing.
Without the technology, the client would have been Key findings
forced to shut down the operation and replace the For industry
pipe – a process which would have taken two years • Focus on people, hire character not skills.
and cost US$5m. Including the cost of lost production, • Build your own knowledge to avoid buying into the
the solution has saved the client a further US$38m in hype.
revenues, more than justifying the US$300,000 per
year cost. For government
• Establish regulatory stability – instability of
With use cases such as this to draw upon, it is no surprise regulations and decisions impact long-term planning
to see Baker Hughes increasing the volume of inspections and drag investments.
it completes, scaling up from an average of one per
month to three or four. After six years in development Baker Hughes at a glance:
and a decade since the challenge first presented, Baker Key products and services: Inspection and monitoring
Hughes is poised to take full advantage of the commercial services in flexible pipes.
opportunity it has worked tirelessly to unlock.
About Baker Hughes • Oil and gas – 90%
Baker Hughes is an energy technology company that
provides solutions to energy and industrial customers Headquarters: Houston, US
worldwide. Built on a century of experience and London, UK
conducting business in over 120 countries, its innovative Year established: 1950
technologies and services are taking energy forward – Number of employees: 55,000
making it safer, cleaner and more efficient for people and Revenue: £17.1bn
the planet. Revenue from exports: 70%

84 Success stories
Balmoral
Re-invigorated R&D tackles toughening competition and new market demands
system that was huge success and led the market ever
since. However, as the years went by, the competition
started to close in – while not always able to compete on
performance and quality, some were managing to produce
Fraser Milne, Engineering and Projects Director alternatives at more competitive prices which would
Gary Yeoman, Sales Director appeal to offshore oil and gas players.
To avoid being overtaken and protect its market share,

How is Balmoral thriving? Balmoral needed to find a way to shave costs with a new
offering that could also appeal to operators in future
Having commanded a leading market position with its energy markets such as floating offshore wind. Doing so
premium buoyancy and protection systems for offshore is no easy task – rigorous standards must be met to bring
energy assets for the best part of two decades, Balmoral new safety and protection solutions to market.
was coasting. Customers loved its product, and the
competition couldn’t compete on quality. The solution
However, as the 2010s progressed, it became clear In 2018, the company’s leadership decided to change
that disruptors were closing the gap through price course. Continuing with the status quo, it was feared,
competitiveness. With more and more industry players would result in Balmoral being usurped by competitors
coming on stream, Balmoral knew it needed to radically which had been coming up on the rails in recent years.
evolve its offering to compete on cost and offer new
advantages, not just for its core oil and gas market but R&D therefore took centre stage. Backed financially with
also for offshore renewable sites. 2-3% of company turnover being invested each year, an
in-house R&D team named the Discovery Unit was carved
A big decision was made to invest heavily in R&D, with the out of the project engineering team. A nine-strong unit
pioneering Integral Plus buoyancy module paving the way spread across three subcategories (product development,
for the company to find a new edge. material, process), 2019 saw the Discovery Unit brainstorm
the concept of a semi-clampless technology through a
The challenge series of educated trial and error projects.
A critical threat facing any incumbent company with a strong The new solution had to compete on price and offer a
market share is the temptation to drift along. For Balmoral, radical step-change in comparison to the premium clamp
a leading provider of buoyancy modules and protection if it was to interest existing clients and win over new
products for offshore energy industries since the 1980s, customers.
the danger of resting on its laurels was well and truly alive.
The Integral Plus was thus born. It is a two-plane buoyancy
In 2006, it had released a high-performance clamp module containing a clever rubber part – as the load is

Success stories 85
applied, the rubber (which is now patented) reshapes and

reforms to give even distribution load.
Towards the end of 2020, a four-tonne prototype was

built and independently tested to prove the concept, with
the results providing cause for optimism on many fronts.
Key benefits include the ability to spread load in modules,
suitability for use in renewables, and incorporation of
thermoplastic, recyclable components.
Crucially, the Integral Plus makes it easier to automate the

installation process, helping to optimise cost, power, use
and safety – for the renewables sector in particular, which
potentially operates with thousands of modules, this
automation capability could bring enormous advantages.
Indeed, the company calculates that for each major deep

floating production storage and offloading (FPSO) unit, a
total saving of £4.5m can be made (based on a 400 module
per FPSO average). This is thanks to a 12-20% lower
product price, cheaper logistics, and savings made on time,
space and other cost bases during the installation process.
Story type
Alongside developing the prototype, another crucial step #technology (main category)
has involved working with API to evolve standards and #diversification, #innovation
enable the use of non-separate clamping solutions, with a
new standard release being achieved in June 2021. Benefits
• Balmoral has now diversified into the offshore wind
The decision to change course in 2018/2019 already market.
looks like an astute one. The new offering is already being • New solution provided lower product price, cheaper
adopted by customers and has opened up the floating logistics, and savings made on time, space and other
offshore wind market to the company. Presently, orders cost bases.
for 2023/24 for the Integral Plus stand at £20m, which
already represents around a quarter of all revenue. Key findings
For industry
It is clear that the foundations for the company’s next • Never rest on your laurels – resist temptation to
chapter have been laid. Today, Balmoral operates out of delay investment to next year.
manufacturing facilities in Aberdeen (HQ) and Newcastle, • Aim high for all your goals.
its 325-strong team complemented by agents based in
key markets around the world to give it a global industry For government
presence. With Integral Plus establishing itself and picking • Support the British industry, stop letting it go
up momentum across the oil & gas and renewables sectors, overseas.
the future looks entirely different (and a lot brighter) than
it did just a few short years ago. Balmoral at a glance:
Key products and services: Buoyancy installation and
About Balmoral protection products for offshore energy industries.
Established in 1980, Balmoral has an enviable reputation Main industries served:

across the world for product design, development, • Oil and gas – 85%
and delivery. With 350 people based at its purpose- • Renewables – 15%
built 250,000ft2 facility in Aberdeen, Balmoral builds
successful relationships with clients working with them Headquarters: Aberdeen, UK
from concept development and advice through to product Year established: 1980
design, manufacture, testing, delivery and support. Number of employees: 350
All managed in-house to give total safety, quality and Revenue: £90m
scheduling control. Revenue from exports: 90%

86 Success stories
Belzona
Reinforcing responsible values to stay in tune with the modern industry
those firms in the supply chain which portray sustainable
principles and provide circular solutions are more likely to
Jeremie Maillard, Export Sales Director secure their custom.
Belzona realised it needed a new mission statement that would

enable it to become more in tune with the modern world,
How is Belzona thriving? a world which is dialled into sustainability like never before
through the likes of social media and online connectivity.
Any company in operation for 71 years can say they’ve
stood the test of time. For Belzona, while its core The solution
proposition and purpose had largely remained the same,
the priorities of the industry and its clients were shifting. Senior management and marketing teams from the UK
and US began working on mission and values proposals,
And although always a responsible business at heart, coming together in June 2022 to share ideas and agree
the time had come for Belzona to truly shout about its a unified way forwards. The company’s previous slogan
sustainability, the company now guided by a new strapline around being the first global choice for protective coatings
– polymeric solutions for a sustainable future. and repair composites was replaced with a snappier,
more value-driven statement: Polymeric solutions for a
Despite it being early days operating under the new mission sustainable future.
statement, green shoots are appearing. Customers have
already come calling in search of more circular solutions Belzona is also underpinned by what it calls the three i’s
to their maintenance problems. – integrity, investment and innovation. And although this
relabelling may, at face value, look as if it is about changing
The challenge hearts and minds inside the company, the truth is the firm
has always operated with corporate responsibility at its
For decades Belzona has been providing products and core. Indeed, the exercise is geared towards changing its
services to solve the maintenance issues found within messaging towards end users with a view to supporting
equipment and structures across a variety of industries. them in their own sustainability journeys.
Specialists in the design and manufacture of polymer-
based repair composite materials and industrial protective For example, repairing instead of replacing is now core to
coatings, the company has built its reputation in the the Belzona mission – repair for a fraction of the price,
market thanks to a huge amount of experience and a while also delivering significant environmental benefits.
bespoke approach to every customer’s needs. It is something the company has done for decades, but
only now is the proposition being labelled to appeal to the
Those needs, however, are evolving. Industrial sectors are modern-day customers’ priorities and needs.
investing more in ESG strategies and circularising their
businesses to become more sustainable – as a result, Belzona is also working with its own supply chain to

Success stories 87
determine emissions generated in the production of its

polymeric solutions, the idea being to gain visibility, make
enhancements and take their learnings to customers to
enable them to make informed decisions about reducing
their carbon footprints. Another important step has been
the creation of an internal environmental committee
to oversee targets and ensure these are being worked
towards – early commitments include two years of
supporting tree planting charity work and offering staff
three days paid leave to undertake voluntary work.
All of this has been housed into a multi-year business plan.

Currently in year one, key goals are to embed the new
focus and mission across the entire organisation, as well
as customers and suppliers.
Customers have already been looking for repair instead Story type
of replacement because of the clear circular economy #sustainability (main category)
benefits. For example, over the course of several years,
a steel fabricator in the UK’s East Coast managed to save Benefits
millions of pounds by deploying polymeric repair and • Customer saved millions of pounds by using
protection systems onto more than 2,000 metres of its Belzona’s repair and protection solutions.
gas pipeline, including epoxy repair mortars and stainless- • Company’s green messaging stronger.
steel protective coatings.
Key findings
Belzona has also been supporting a UK-based power For industry
distribution company whose assets are subject to SF6 leaks • Define what you want to achieve and build it on a
in their transformers. SF6 is described as the world’s worst sound foundation – long-term success relies on this.
greenhouse gas and is 23,500 times more potent than CO2. • Get all staff to come on a sustainability journey, not
just director level.
In early 2022, Belzona created a tailor-made solution
to stop leaks on a transformer owned by an electrical For government
distribution operator. After several stages of pre- • Be clearer on what the government is trying to
qualification, a trial repair was completed and has now achieve in energy-related topics (e.g., energy crisis)
been in service for nine months. With Belzona’s support, – SMEs feel in the dark.
the organisation is now achieving a 90-95% leak reduction
rate, with an ambition to reach 100% in the near future. Belzona at a glance:
Key products and services: Polymeric solutions for
It is these types of repair success stories that the company industrial maintenance, offering unconventional repair
will need to keep on shouting about. And with its refreshed alternatives for end users.
focus on sustainability messaging, Belzona is perfectly
positioned to drive forwards green agendas. Main industries served:
About Belzona • Renewables – 10%
Belzona is a world leader in the manufacture of repair • Nuclear power – 5%
composites and protective coatings for machinery, • Energy Transition – 1%
equipment, buildings and structures. The company can meet • Others (mining, marine, steel, wastewater) – 54%
the ever-changing and challenging demands of industries by
providing solutions for the long term that reduce downtime Headquarters: Harrogate, UK
and lower maintenance costs. Available through a global Year established: 1952
network of distributors, supported by headquarters in the Number of employees: 251
UK, US, Canada, China and Thailand, Belzona provides 24- Revenue: £29.4m
hour technical support and on-site assistance. Revenue from exports: 85%

88 Success stories
Blaze
Diversifying to move away from O&G dependency
profitability, improve certifications from appropriate bodies,
and more easily find and execute projects.
This was no easy feat. Crucially, the complex contractual

Ann Johnson, Business Development Director/ nature of CAPEX works associated with the government
Howard Johnson, Managing Director imposed the need to build a deep understanding of CEMAR
and DIMIC contracts. Equally, in renewables, the firm quickly
experienced the need for performance and warranty bonds
How is Blaze thriving? coupled with punitive damage clauses which impacted
cashflow and its ability to grow as a company.
Embarking on a renewed strategy underpinned by
innovation, diversification and export opportunities, the Come 2019, the company sought to find a partner to
fire safety and loss prevention solutions provider has help it invest in growing its share of the new markets it
effectively secured its future, bolstering its reputation had diversified into, having successfully completed fire
across several geographies and industries. systems projects in the renewables sector at this time.
This led to Balmoral Group acquiring a 70% share in Blaze,
The challenge the fact it is now part of a larger group enabling it to bid
for considerably higher value projects.
Like many companies emerging out of the oil and gas
sector, Blaze found itself in a precarious position when Today, the firm is spread across four different sectors. First,
the oil price crash of 2014-2015 hit. Indeed, all large- it has successfully completed five renewable platforms with
scale capital projects were put on hold, the firm finding a sixth on its books. Second, it is also working well within
itself in a vulnerable position and at the mercy of market the nuclear greenfield market and has qualified as a tier
fluctuations. Its owners, Howard and Ann Johnson, one contractor direct to EDF, which will see the company
saw that diversification was required to survive, and so migrate into the service and maintenance of nuclear assets.
embarked on a strategy of research and development to
identify new markets both at home and overseas that Thirdly, in the industrial space, Blaze is now accredited
their products and solutions could be applied to. by FIRAS and is awaiting the award of further formal
certification which will enable further growth within the
The solution sector. And fourthly, the firm remains proud to continue
to support its oil and gas clients both across the upstream
The resulting business strategy is fuelled by innovation, and and downstream segments.
a client-focused approach, to seek out new opportunities
through market expansion. The geographic expansion of the company has been equally
impressive. Having targeted opportunities in Democratic
Through diversification, it was anticipated that the company Republic of Congo, for example, Blaze built key regional
could diminish risk in any one single market while increasing relationships to expand into Zambia, all while exporting

Success stories 89
across Europe, the Middle East, the Falklands and Azerbaijan.
In Zambia there has been considerable success. The firm was

mandated to protect two transformers for Copperbelt Energy
on a highly remote site in the Zambian Jungle. With limited
water supply and no power in the region, there could be no
use of power tools. Further, the site was over three hours
from the nearest town, meaning access to deliver goods was
highly dangerous due to road conditions and local wildlife.
Blaze developed an innovative mechanical approach,

designed in such a way that the native workforce could be
trained to maintain the system and swap out the cylinders
locally without the need for any physical intervention from
its UK workforce. It designed a standalone pressurised
water mist system to deliver automatic detection and
protection of a fire event on the transformers, negating
the requirement for fire water pumps, water storage tanks
and bore holes. And despite several challenges, the project
was delivered within budget.
Story type
Internally, there has also been significant change. The firm #culture (main category)
has completely restructured its teams, it now having a full #export, #service & solutions
commercial department and with cross-trained engineers
that can take on a diverse range of projects owing to the Benefits
experience the company is continuing to gather. • Successful geographic expansion of the company.
• Increasing teams and revenues.
Despite the challenging period that the business endured
through the downturn and subsequent diversification, the Key findings
loyalty of the workforce allowed Blaze to maintain a core For industry
level of knowledge in this niche sector. The diversification • Diversification needs to be carefully planned and
strategy has also allowed Blaze to recruit specialists keen to executed because this will help with business
broaden their skillset across multiple industries, with a 50% sustainability and resilience.
increase in headcount in the last 18 months. This has brought • Don’t underestimate the importance of your
new thinking and ways of working, and a healthy culture of network, surround yourself with experienced,
challenge, that will ultimately benefit Blaze’s clients, as they positive voices.
seek innovative solutions to protect their assets.
For government
With a refined business strategy that is now focussed on • We need local content laws to be enforced, proving
a combination of export, diversification and innovation a level platform to the SME community.
opportunities, Blaze continues to seek out new opportunities
to ensure that this growth lasts. Owing to these ongoing Blaze at a glance:
achievements and growth drive, the firm is now optimistic Key products and services: Fire safety, protection and
that its revenues will rise from £4m in 2022/23 to £7m in loss prevention solutions.
2023/24 – a significant jump that is fully within its grasp.
About Blaze • Oil and gas – 20%
Blaze Manufacturing Solutions is a privately owned • Nuclear power – 10%
business providing technical safety and loss prevention • Others (industrial) – 58%
solutions in the oil and gas, renewables, nuclear, mining,
commercial and industrial sectors. This involves everything Headquarters: Aberdeenshire, UK
from the front-end definition of concepts, detailed design, Year established: 2006
supply and installation, and the commissioning and Number of employees: 35
maintaining of active fire extinguishing systems and fire Revenue: £4m
alarm systems both in the UK and internationally. Revenue from exports: 7%

90 Success stories
BMT
A purpose-driven enterprise focused on sustainable outcomes
organisation as an enabler for growth. Shortly after,
BMT’s refreshed purpose was agreed with the board as
follows: “BMT exists to navigate the most important and
Dr Louise Ledgard, impactful engineering challenges of our time. We create
Global Business Development Director environments where people with outstanding technical
Laura Blake, Sustainability Manager knowledge deliver meaningful, practical solutions. We
are driven by a commitment to a safer, more efficient,
effective and sustainable future.”
How is BMT thriving?
Their purpose has now become a pivotal mechanism in
BMT embarked on a revitalised sustainability drive driving several steps to incorporate sustainability into the
a number of years ago. Underpinned by a refreshed business.
purpose and with the essential ability to set and measure
emissions targets, the company is determined to become From an organisational and structural perspective, BMT
net zero by 2035 and is taking its employees with it on this launched a dedicated sustainability action team, bringing
transformative journey. together a diverse pool of people to discuss ideas and drive
change. Meeting once a quarter, those involved have had
The challenge their job scopes altered to allocate regular time to concentrate
on sustainability issues. Meanwhile, the company’s executive
For global engineering, science, and technology committee has added sustainability as a monthly agenda item,
management consultancy BMT, the opportunities and the aim being to embed it into every business function across
challenges presented by climate change have become the organisation. From January 2022, it is now also a regular
increasingly important. item on the board meeting agenda.
In 2019, it was recognised that the company needed Central to the strategy has been the setting of various
to become more purpose-driven, with sustainability science-based emissions targets. The company is due
embedded at the board level and etched into the wider to have its net zero targets approved and published by
business strategy. summer 2023, the major goal being to become net zero
across specific areas by 2035, with travel related emissions
It was seen as an opportunity to prepare BMT for future cut by 65% by 2030.
regulation requirement, winning work and to attract and
retain talent. BMT seeks to hit these targets through the adoption of
several key strategies. These include embedding digital
The solution technologies to streamline processes, pivoting its business
delivery model to a regional setup, and purchasing carbon
In 2020 BMT’s executive committee agreed a new reduction credits - once they have done as much as they
ambition for sustainability, to embed it into the can to reduce their emissions.

Success stories 91
Critically, the idea is to achieve behavioural buy-in across

the entire organisation. Whether this is through how BMT
manages its supply chain, to reducing travel. In support of
this BMT is updating its policies and procedures and has
provided supporting workshops, including advising executive
management on how to cut their travel and incorporate more
sustainable forms of transport into their journeys.
A broader discussion around ethics within BMT was also

started in 2022. This has involved deliberations over how
to approach traditional energy sectors such as oil and gas,
and what type of stakeholders the company wishes to
engage with moving forwards.
For instance, this is likely to entail ramping up its activity

around smart grid solutions for energy management and
distribution in rural and remote (off-grid) locations.
In Canada, BMT has designed a smart microgrid energy

management (controller) and distribution system
(switchboard) built from commercially available, off-
the-shelf components, to create a solution that reduces
both development costs and time required to integrate
renewable energy sources.
Armed with a full-scale prototype, the company is currently

engaged with a pilot project to achieve proof of concept Story type
and take a step closer to market entry. If successful, this #culture (main category)
has the potential to minimise use of diesel generators in #sustainability
remote communities.
Benefits
In just a few short years, sustainability has shifted away • Sustainability became a concern throughout the
from being a nice to have to becoming a fully-fledged company.
driver of BMT’s broader business. With a newly defined • BMT futureproof to changing society and market’s
purpose and tangible action points in place across a needs.
number of areas, including the all-important ability to
set and measure emissions targets, the company is well- BMT at a glance:
placed to futureproof itself for the long term. Key products and services: Engineering, science and
technology management consultancy.
About BMT
Formed in 1985 following the merger of the British Ship • Oil and gas – 19%
Research Association and the National Maritime Institute, • Renewables – 1%
BMT is a leading international design, engineering, science, • Others (defence, maritime) – 80%
and risk management consultancy with a reputation for
engineering excellence. Active in the oil and gas, defence, Headquarters: London, UK
renewable energy, ports, risk management and maritime Year established: 1985
transport sectors, BMT has around 1,300 professionals Number of employees: 1,300
located in 27 offices in Asia, Australia, Europe and North Revenue: £157m
America. Revenue from exports: 30%

92 Success stories
Bolloré Logistics
Overcoming challenges with a unique UAE/Kuwait Logistics contract
and consolidating goods, legal paperwork, shipment, and

Vishal Saluja, Energy & Industrial container management. Challenges encountered during
Projects Business Development the contract execution included high volumes of shipments
Manager UAE from the US and Germany, lack of equipment/space,
changes in cargo size/routes, as well as cost optimization.
Moreover, the company had to deliver the contract during
How is Bolloré Logistics thriving? the pandemic which added to the complexity.
Bolloré Logistics has successfully completed a challenging The solution

contract involving cross-border logistics between the
US and Germany, with delivery markets in the UAE An in-depth study of the customer’s exact requirements
and Kuwait. The company was able to provide tailored and expectations was conducted in the initial stages of
solutions to their client’s needs while also demonstrating the project. A dedicated team of experts with knowledge
transparent communication, adapting to unexpected gained from prior experience in similar endeavours
issues, and demonstrating the value of Bolloré Logistics was assigned the responsibility of driving it forward
brings to its clients. consistently. Additional measures were taken to provide
cost transparency and consistency such as signing key
The challenge contracts with shipping lines at the start of the project
and providing warehousing facilities in the US and
Bolloré Logistics secured a major contract from an Germany for easier consolidation. Where its presence was
Engineering, Procurement, Commissioning (EPC) company already established, existing relationships were leveraged
to upgrade an existing platform to increase capacity to ensure that local authorities did not impede progress.
from 40,000 to 50,000 barrels per day in Kuwait with
the materials being manufactured in the United Arab The tailored logistics solution delivered by Bolloré Logistics
Emirates. The key materials were imported into the UAE allowed for the seamless execution of the project, with all
before being exported to Kuwait for final installation. elements of the supply chain being managed effectively.
The scope of Bolloré Logistics’ work included surveying The company provided end-to-end solutions ensuring that

Success stories 93
all aspects of the project were managed with the utmost

efficiency. The entire relationship with the client was
underpinned by close communications and relationship
building, entailing regular updates that included tracking
reports twice weekly.
From mid-2021 to early 2022, the Bolloré Logistics teams Story type
worked diligently to ensure safe and timely delivery of #service & solutions (main category)
the 75 shipments which included Breakbulk, flat rack,
standard containers, and air shipments. Despite this Benefits
complex combination, the teams ensured the safe delivery • Profits despite changing scope and project costs.
of all cargo to the client’s destination port well within • Close communications and relationship-building
the timelines, despite difficult conditions and changing with clients.
circumstances.
Key findings
Bolloré Logistics has been able to successfully navigate For Industry
the ever-changing environment by quickly adapting to the • It’s necessary to have extra effort to get the right
new conditions. exposure.
• To succeed, you must be able to adapt,
With hundreds of successful logistics projects under its communicate, be proactive, and be transparent with
belt, Bolloré Logistics is the go-to provider for energy the customer.
companies looking to tackle complex and large-scale
logistics requirements. For government
• Make processes easier for goods imported for re-
Looking ahead, the firm is now eyeing more contracts, exports (temporary imports) and for Road permits
including oil and gas projects in the Middle East, and wind for OOG cargos.
power projects in Africa, as well as solar power projects in
both markets as it moves through 2023 and beyond. Bolloré Logistics at a glance:
Key products and services: Freight forwarding
About Bolloré Logistics (multimodal), logistics warehousing, customs clearance,
brokerage, packaging, and insurance.
Bolloré Logistics is a major international supply chain
operator and ranks among the world’s top ten transport Main industries served:
and logistics groups with 15,000 people with a network in • Energy – 13%
146 countries. Placing customers at the heart of its strategy, • Others (aid and relief, aerospace, retail, defense, and
Bolloré Logistics is committed to designing innovative, robust, healthcare) – 87%
and agile solutions. Through the reliable management of the
entire supply chain, the company has developed a high level Headquarters: Paris, France
of resilience, enabling it to control risks by securing transport Year established: 2008
plans through alternative options and to lead a continuous Number of employees: 182 (UAE)
improvement policy over the long term while acting as an Revenue: £58m
ethical and responsible player. Revenue from exports: 30%

94 Success stories
Brunel
Aligning with customer’s transition requirements through two key acquisitions
How is Brunel thriving? appropriate technical solutions for a promising future in
both the renewable and conventional energy sectors.
Brunel remains focused on connecting talented professionals
with the companies and pioneering projects that need The solution
them most. With Brunel driving its presence in the energy
market, the firm has successfully expanded its presence and In 2021, Brunel held a market capital strategy meeting,
enhanced its capabilities to drive improved outcomes for where it was decided that the firm needed to be more
its clients through two key acquisitions in 2021 and 2022. proactive and responsive in order to better follow and
Resultantly, it is now better equipped than ever to deliver respond to the trends being set by its clients and prospects.
tailor-made, high-quality solutions to its customers in the
renewable and conventional energy sectors. To ensure it could continue to help connect the right
professionals with the right projects in the energy sector,
The challenge the firm has accelerated its organic growth investments
and focused on a strategy of diversification in recent
Founded in 1975 by Dutch entrepreneur Jan Brand, Brunel years, flanked by two strategic acquisitions.
has grown into a powerful global network with more than
120 offices and 12,000 specialists located around the First, Brunel joined forces with Taylor Hopkinson in 2021,
world. The brand vision is simple: to connect the most a trusted world-leading recruitment partner for renewable
talented and experienced specialists with present-day and energy leaders. By connecting its own extensive global
pioneering projects, delivering skilled talent and workforce footprint with Taylor Hopkinson’s deep sector knowledge,
services that transform global projects. network, and track record, Brunel has been able to set a
new benchmark for service and quality.
One of the sectors in which flexible labour has long
been intensively deployed is the international oil and gas Backed by Taylor Hopkinson’s impressive history of
industry. In 1995, Brunel set up a separate business unit growth, the acquisition has shown itself to be a powerful
specially to serve the conventional energy market. While accelerator of Brunel’s position in the Renewable Energy
this segment quickly became one of the group’s fastest- industry. Having joined forces, Brunel is now capable of
growing sectors, the primary challenge in the energy providing market-leading solutions throughout the entire
market today is to drive and accelerate energy transition lifecycle of renewable energy projects across offshore and
while ensuring energy security. onshore wind, solar, energy storage and green hydrogen
subsectors.
Powering the world in a sustainable yet secure way
requires the right talents and skills, but also technological In 2022, the acquisition of Singapore-based technical
innovation and digital transformation. It is thus essential services company International Commissioning &
to not only recruit specialists but also train professionals Engineering Pte Ltd. (ICE) further enriched Brunel’s
with transferable skills for their future roles in an expertise. Established in 2007, ICE was a project risk
evolving industry. Such expertise is critical in developing assurance and commissioning and startup company

Success stories 95
specializing in the coordination and delivery of large-

scale oil and gas, infrastructure, and energy projects. By
combining ICE’s specialist project assurance, execution,
and delivery expertise with Brunel’s existing global
recruitment, workforce, and mobilization services, Brunel
is now perfectly placed to offer a unique combination
of capabilities. Its management services span the entire
project lifecycle, providing effective oversight and
assurance across all phases from initial assessment to
construction, commissioning, and operation.
During both acquisition processes, there have been some

challenges to overcome. It was important to have cultural
alignment between the merged organizations, thus
requiring extensive communications post-acquisition, for
example. By applying the Brunel value ‘passion for people’,
this alignment was made quickly.
These are moves that have paid dividends. Brunel has been
able to deliver on its diversification strategy, expanding Story type
its expertise and capabilities in two key industries. In #diversification (main category)
turn, revenue and profit have spiked. While revenue was #energy transition
recorded at €893m and operating profit at €29m in 2020,
this increased to €1.182bn in revenue and €61m in profit Benefits
in 2022. • Brunel successfully diversifying into new segments.
• Revenue and profit spiked: €1.182bn and €61m,
With its growing network of specialists, Brunel is now respectively, in 2022.
even better equipped to deliver tailor-made, high-quality
solutions to clients. The firm is supremely positioned Brunel at a glance:
to drive growth in the years to come, support greater Key products and services: Global recruitment and
numbers of clients with their energy transition and drive custom workforce services.
the world’s transition to sustainable energy.
About Brunel • Conventional power – 39%
Brunel is a powerful global network, connecting the most • Others (future mobility, engineering, mining,
talented and experienced specialists with both present-day infrastructure) – 49%
and pioneering projects. With 120+ offices and more than
12,000 specialists around the world, Brunel delivers skilled Headquarters: Amsterdam, Netherlands
talent and workforce services that transform global projects Year established: 1975
in life sciences, conventional energy, infrastructure, future Number of employees: 12,000
mobility, mining, and renewable energy. Revenue: £1bn

96 Success stories
Bureau Veritas Solutions Marine

& Offshore
Turning compliance demands into a successful consolidation-driven growth strategy
and complex issues, de-risk projects, optimise costs, and
BV Solutions M&O has developed a renowned reputation
Dawn Robertson, Global Strategic for driving genuine change. However, recent times have
Sales Director, Global Services – forced the business to be exceptionally agile.
Marine & Offshore
As a result of the impacts of the pandemic, changing
markets, regulatory change, the energy transition and
How is Bureau Veritas Solutions Marine & Offshore oil price volatility, the company has found itself facing
thriving? perhaps the most defining period in the BV Solutions
M&O team’s history.
Bureau Veritas Marine & Offshore is undertaking a major
operational and structural overhaul of its consultancy To continue to deliver sustainable organic growth
business Bureau Veritas Solutions Marine & Offshore classification societies have looked to diversify into
(BV Solutions M&O). The business acquired a number consultancy services, which requires complete separation
of complimentary consultancy-based organisations from from the classification business to ensure that there is
2014–2016 which continued to operate independently. effective independence between business units, with
appropriate safeguards in place to manage any perceived
The business has taken the strategic decision to create conflict of interest on projects.
complete, clear and effective separations between its
consultancy and classification activities. While some The solution
businesses are moving to matrix organisations, BV Solutions
M&O is capitalising on its unique consultancy qualities to To adapt to market needs as necessary, the company
be able to provide a dynamic offering to the market. launched BV Solutions M&O in October 2018.
Having already seen revenues jump dramatically, it is now Here, a key goal has been to consolidate its marine and
well placed to attack ambitious targets that are set for 2026. offshore subsidiaries into BV Solutions M&O to create one
large entity that is the single-source advisory, consulting
The challenge and assurance team.
Within the broader group lies BV Solutions M&O – a Specifically in the last nine months this has been a huge
single-source advisory, consulting and assurance team undertaking with dedicated leadership across the business
of BV serving the marine and offshore energy industry driving this change across strategy, sales, marketing, legal,
markets. Completely focused on the future and offering finance and quality departments, requiring a completely
added-value solutions to enable its clients resolve new overhauled organisational structure. However, these

Success stories 97
efforts will be defining for Bureau Veritas Marine &

Offshore – by separating out the classification activities
from the consultancy, the firm will be able to spread even
more new wings for growth.
This strategy has gained momentum in the past five years.

While the early phases of BV Solutions M&O resulted
in clearer separation of services, the group still had
consulting entities outwith the BV Solutions M&O brand.
With these entities having now been welded together under

one brand and organisation as part of its consolidation
strategy, siloes have been broken down to create a single
team that is more resource efficient with deep-rooted Story type
expertise, truly global capability, and more agile and #transformation (main category)
empowered in terms of scope definition and execution. #service & solutions
Equally, it has offered cultural improvements too. The firm’s Benefits

employees within previous subsidiaries now feeling much • Broader scope and superior response to queries
more a part of the larger Bureau Veritas Group, and being due to the clear separation of classification and
able to appreciate the wider career opportunities available. consultancy efforts.
• Bureau Veritas Marine & Offshore revenue organic
From a financial perspective, there have also been benefits. growth in Q4 2022 equalled 16%.
With various divisions now aligned in one group, there is
improved understanding of key opportunities and greater Key findings
synergies in terms of how best to allocate resources and For industry
chargeable hours. • Don’t be afraid to be a first mover and be bold
in your strategy and have conviction in what you
The group’s renewed focus on services continues to believe to be the right thing to do.
deliver excellent results in revenue, despite the impacts of • In order to be an effective leader, you have to
the Russian war in Ukraine, oil and gas price volatility, and inspire, motivate, create an environment for people
the global pandemic. The figures speak for themselves: to flourish and when implementing a strategy create
Where BV Solutions M&O began with €60m revenues in a clear message and vision with buy-in and urgency.
2019, that has continued to grow to €80m today, with
BV M&O delivering 16% organic growth in Q4 2022. For government
And its clients have benefitted too, the clear separation • For Scotland and UK policy, I would like to see a
of its classification and consultancy efforts providing a cohesive energy transition plan that backs some key
broader scope and superior response to queries. Indeed, energy solutions with policy and investment and
having now developed stronger foundations and improved really demonstrates how to get there.
compliance via its consolidation strategy, the firm looks set
to only go onto greater things moving forward. Bureau Veritas Solutions Marine & Offshore at a
glance:
Between growth opportunities, improved efficiencies, Key products and services: A single-source advisory,
competency advantages, breaking down siloes, global consulting and assurance team of Bureau Veritas
compliance, and an underlying appetite to change and serving the marine and energy industries.
improve, BV Solutions M&O is now well placed to achieve
its overarching goal of doubling its revenues by 2026. Main industries served:
About Bureau Veritas Solutions Marine & Offshore • Marine – 29%
• Others – 9%
Bureau Veritas Solutions is the single-source advisory,
consulting and assurance team of Bureau Veritas Marine Headquarters: Aberdeen, UK (BV Solutions M&O)
& Offshore. Global leader in testing, inspection, and Year established: 1828 (Group), 2018 (BV Solutions
certification, delivering high quality services to help M&O)
clients meet the growing challenges of quality, safety, Number of employees: 450+ (BV Solutions M&O)
environmental protection and social responsibility. Revenue: £70m (BV Solutions M&O)

98 Success stories
CALGAVIN
Future proofing with innovative enhancement technologies
The solution
Hamzah Sheikh, Technology After completing his PhD in Chemical Engineering at the
Development Engineer University of Birmingham, Hamzah joined CALGAVIN full-
time in 2022 as a Technology Development Engineer.
How is CALGAVIN thriving? Since then, he has been involved in progressing

development on hiVISCTM, for which the company
Whilst hiTRANTM Thermal Systems, a wire matrix successfully applied for funding from Innovate UK to help
heat transfer system, paves the way in tubular transfer take the product from development to commercialisation.
enhancement solutions, CALGAVIN saw a gap in the
market. The process has involved several important steps to date,
including engagement with clients via questionnaires
With the aid of robust in-house research, development, and at large energy sector events such as ADIPEC.
and manufacturing capabilities, the development of More technical steps have covered CFD, geometry
hiVISCTM, an innovative enhancement technology aimed refinements, physical testing, product prototyping and
at optimising process applications involving viscous fluids, the development of manufacturing processes. Final heat
began. The project, now in its commercialisation phase, transfer and pressure drop tests have also been carried
has already demonstrated value for a well-known chemical out, along with modification of the test rig to meet the
and pharmaceutical client. high testing accuracy standards required by clients.
The challenge Alongside this, the company has been further developing
its software tool to help clients configure inserts which are
British engineering firm CALGAVIN has been providing optimised to their needs – the program generates a part
heat transfer solutions to clients all around the world for number, which CALGAVIN then uses to quote them on
more than four decades. Innovation and problem-solving supplying the finished solution.
lie at the company’s core, its range of test facilities,
development of research programmes and collaborations The speed at which hiVISCTM has been developed and
with UK and worldwide universities enabling it to stay launched is impressive. CALGAVIN already has an order
at the cutting-edge of the ongoing question – is there a secured and delivered, the product exceeding expectation
better way to optimise heat transfer? and providing cost effective solution to a complex thermal
problem.
Answering this question is CALGAVIN’s ever-present
challenge. In 2018, during university student Hamzah The customer in question was an international
Sheikh’s placement year, the company had started some pharmaceutical company, that first made contact with
research with a chemical company to tackle heat transfer CALGAVIN in 2018 at the ACHEMA conference. During
challenges caused by processing highly viscous fluids. the development of hiVISCTM, CALGAVIN reconnected

Success stories 99
as the product was suited to their needs. At the time,

the firm was aiming to take a lab scale reaction to a
continuous process, increasing productivity and efficiency
of manufacturing their product. The fluids in question
were highly viscous and corrosive, and therefore required
delicate processing in a tubular exchanger without the
presence of any metals. Due to the fluid properties and
product yield requirements, flow rates were limited, and
heat transfer was poor. In addition, the reaction was
exceptionally exothermic, and using the current setup
to achieve the required product yield would result in
excessive temperature increases, which would ultimately
lead to mechanical failure of the tubular exchanger. Story type
#technology (main category)
CALGAVIN applied hiVISCTM, producing the insert #culture, #diversification, #innovation, #service &
from PTFE as metals were off limits. Because the PTFE solutions
version could not be 3D printed, the company adapted
the product design, invested in new tooling and modified Benefits
its CNC machine by adding an additional two axes. • Customers’ needs for thermal stability satisfied.
• CALGAVIN’s heat transfer solutions optimised.
The solution has performed remarkably well, achieving
thermal stability at the required yield. Furthermore, Key findings
CALGAVIN advised that firm could operate at a lower For industry
temperature due to the effectiveness of hiVISCTM, • Science tells you what is real. Don’t let your
enabling it to reduce energy consumption and cut costs, personal feelings get in the way of solid research.
and operate in a safer thermal envelope. • Don’t be afraid to use new technologies to reduce
emissions and to solve process challenges.
An equivalent exchanger to provide the same effectiveness
as the solution provided with hiVISCTM enhancement For government
would have been much larger and require more energy to • Push more practical and hands-on approach of the
manufacture, install, and operate. real world and industry in younger people.
With this impressive success story already under its belt, CALGAVIN at a glance:
it appears that CALGAVIN could be onto a winner with Key products and services: Unique chemical
hiVISCTM. Indeed, the project underlines the importance engineering and construction company, working in the
in offering avenues and opportunities for student talent to enhancement of thermal process and flow conditions.
thrive with real-world R&D experience.
About CALGAVIN • Oil and gas – 80%
• Energy Transition – 5%¨
CALGAVIN works in partnership with some of the • Nuclear power – 2%
largest global businesses to provide robust heat transfer • Others (pharma) – 13%
solutions to the process industry. Based in the heart of
the UK, CALGAVIN’s dedicated manufacturing facility Headquarters: Alcester, UK
encompasses a comprehensive engineering team and Year established: 1980
research and development laboratory, ensuring a robust Number of employees: 35
quality and trusted experience across the oil and gas Revenue: £3.5m
industry. Revenue from exports: 90%

100 Success stories
Capital Consulting International

Shifting strategy towards proactive intervention
provided innovation and adapted its approach to client
requirements.
Julian Haslam-Jones, Managing
Director – Middle East & Asia The solution
CCi realised that to meet their clients’ ever-evolving

How is Capital Consulting International (CCI) thriving? challenges, they needed to engage with them in a different
manner, ideally at the start of a tender period or project in
To address the changing needs of the market, CCi has order to identify potential challenge areas and minimise risks,
actively engaged clients to better understand and align resulting in the launch of its project monitoring services.
with their needs.
This was a natural transition. Indeed, as an established and
By advocating a proactive and preventative approach to experienced consultancy, CCi has encountered a variety
project complexities by looking to become involved at the of project issues and has the knowledge base to identify
earliest possible opportunity, the company is minimising these ahead of time. For this reason, the firm began to
project risks and delivering long term benefits and peace advocate getting involved in projects as early as possible
of mind to its customers. to help manage issues, encouraging its own customers to
be more proactive and preventative.
The challenge
This renewed approach has been transformative, adding
Established in 1998, Capital Consulting International (CCi) significant value to the client. While upfront costs may
has an established reputation as an independent global be slightly higher, the potential for retrospective issues to
consultancy, recognised around the world for its expertise emerge has been drastically reduced, limiting the potential
as a provider of delay, quantum, technical and project that additional costs arise while providing peace of mind
management services in the construction and insurance and better results. Further, it enables CCi and its clients to
industry. make more informed decisions in respect of costs and time
involved on each project, facilitating greater forecasting
With a staff compliment of more than 200 employees, the and insights.
firm has continued to grow its market share over the past
decade. For this to work CCi reviews and alters the ways in which
it presents to clients, reviews proposals and markets itself.
CCi has found many of its clients becoming increasingly Key to this has also been engaging with clients directly,
cost-focused. To overcome this challenge and better understanding their pain points and where CCi can add
cater to the evolving demands of the market, CCi has value.

Success stories 101
Indeed, it has been a gradual transition. However, as

the firm has ironed out the creases in all projects, it is
continuing to demonstrate the merits of its proactive
approach, offering value that will only serve to embolden
its position in the market moving forward as more
prospects gravitate towards this modernised, relevant,
and logical method.
Story type
Its position is also strengthened compared to competitors #transformation (main category)
by the addition of technical experts meaning that CCi can #collaboration
deal with Technical, Delay and Quantum related matters
under one roof. Benefits
• Repeat business secured.
CCi’s belief is that a client’s case is best served when these • Company now working on hundreds of projects
three disciplines are provided as an integrated service, across the globe.
ensuring an exchange of information between delay, • Value added to clients.
quantum and technical experts is efficient and effective.
Indeed, it’s a competitive advantage that continues to pay Key findings
dividends, ensuring clients don’t have to go to multiple For industry
providers for various services. • Listen to your clients.
With this core offering underpinning its ongoing success, For government
the firm has not only worked on hundreds of projects • Get inflation under control, it requires guidance and
worldwide, but it is now also starting to see more legislation.
commissions being developed on the central basis of its
proactive offering. Capital Consulting International at a glance:
Key products and services: Independent global
In continuing to secure repeat business while also consultancy that is recognised around the world for its
attracting a range of new clients with its renewed strategic expertise in the insurance and construction industries.
emphasis, CCi is confident that it has re-laid a new, more
prosperous path for the future. Main industries served:
• Oil and gas
About Capital Consulting International • Conventional power
• Nuclear power
CCi is a global consultancy of delay, quantum, technical • Renewables
and project management experts, advising the insurance • Energy Transition
and construction industries. CCi’s advisors and experts • Others
are strategically based around the globe, with offices
across the UK, North America, Middle East, and Asia Headquarters: London, UK
Pacific. They bring a broad range of industry experience to Year established: 1998
protect the clients’ interests on construction, engineering, Number of employees: 200
and energy projects. Revenue: £40m

102 Success stories
Cellnex
Proving the case for cellular connectivity
convincing that cellular networks represent the future of
connectivity versus the longstanding Wi-Fi incumbent.
Martin Green, Head of The solution

Business Development
Mike Harrison, Head of Product & Solutions Winning over the energy industry has been a priority for
Cellnex’s Europe-based business (headquartered in Spain)
since the turn of the decade. So far it has been something
How is Cellnex thriving? of an education and concept proving exercise, a process
which continues to involve speaking to and working with
Cellnex is proving that cellular private networks represent potential clients to demonstrate the unique benefits of
a robust, scalable and ultimately superior connectivity private cellular networks versus what is being delivered by
infrastructure for industrial facilities. Its next objective is current Wi-Fi setups.
to move into the energy space, drawing on its success in
deploying networks for other industries to kickstart a new The strategy is a simple one – apply and market use cases
age of hyper-connected (and thus hyper-productive) assets. and applications from adjacent industries to showcase a
With an expanded UK-based team and growing number of range of transferable benefits to potential clients in the
pilots being undertaken, momentum is starting to gather. energy sector. To do so the company has pressed ahead
with several important moves, the first being to grow
The challenge its UK team and establish a dedicated unit responsible
for engaging with energy stakeholders – here, EIC
A multi-billion-dollar global enterprise with around 2,500 membership has been useful, in particular the access to
employees, Cellnex is already a business success story. A key project data and introduction to leads. Cellnex has also
partner to the telecoms industry with its cellular network set up consortia with institutes and vendors to offer
infrastructure solutions, the company owns and operates technological solutions and combinations which are
one in every four telecommunications masts helping to keep already proven in adjacent industries.
people and businesses connected around the UK.
A major challenge, and one which is ongoing, is making a
For Cellnex, the future of connectivity involves wireless business case to supplement and often switch away from
mobile networks (such as 5G) superseding the Wi-Fi Wi-Fi that will convince decision-makers who are already
establishment. Capable of blending with distributed antenna risk averse when it comes to disrupting their technology
systems, the firm’s masts ensure everybody can acquire stacks. Budgeting is a particularly large hurdle to clear, not
signal no matter where they are, laying the foundation for a least because communications networks represent large
connected society that is not reliant on cumbersome wires. areas of spend. But Cellnex is making the case for 4G
and 5G private networks by encouraging potential clients
One industry it has targeted is energy. Traditionally among to widen their lens and look at the wider productivity
the slow adopters of new technologies, the sector still needs and performance benefits. 5G is already underpinning

Success stories 103
enormous industrial operations around the world, some

of the most prominent examples being hyper-connected
mines which exploit the superior connectivity provided by
5G to power autonomous operations.
Cellnex is drawing on these use cases to help penetrate

the energy market. The company is engaged in a number
of pilot projects spanning nuclear and mining to refineries
and asset tracking at ports, all of which have the potential
to help Cellnex make inroads into the energy space.
In Spain, it is working closely with BASF at a chemical plant

operated by the firm. The project is based on a use case
presented to BASF by Cellnex from networks installed at
14 ports across Finland – infrastructure which provides
robust, reliable and scalable connectivity.
In November 2020, the two parties began exploring how a

similar setup could be adapted to suit differing applications
at BASF’s refinery. To date, the scope has been broad,
covering network infrastructure, cellular radio, mobile Story type
network core and edge computing to host key applications #diversification (main category)
around asset tracking, video surveillance and various #digital, #innovation, #service & solutions
AI-powered analytics. The results have been extremely
promising, the client revealing that the project has allowed it Benefits
to advance exponentially towards a new way of operating. • Cellnex further into the energy market.
The cellular network is highly scalable (at low cost), assisting • Client was able to improve asset operations with
workers on-site and from afar, and enables BASF to operate fewer costs.
the site with fewer personnel than it otherwise could have
with alternative network technologies due to the speed, Key findings
coverage and data capabilities provided. For industry
• Believe in your vision.
All of this unlocks several optimisations for BASF. Its • Have a clear call to action, take advantage of the
coverage of outdoor areas and challenging environments direction the market is heading to.
is now far greater (versus WiFi), while the company can
keep workers safe by removing personnel from hazardous For government
areas. Meanwhile, various monitoring capabilities are • Provide the industry with better, easier access
providing the client data from which it can make process to sufficient private networks radio spectrum/
enhancements. In terms of sustainability, BASF is also able frequencies.
to reduce the amount of physical infrastructure it needs,
helping it to reduce its carbon footprint. Cellnex at a glance:
Key products and services: Infrastructure owner,
With this successful pilot under its belt, Cellnex looks well servicing the telecoms industry, mainly servicing
positioned to approach and work alongside other asset mobile network operators.
operators and move beyond what it terms ‘the end of
start-up phase’. Main industries served:
About Cellnex UK • Conventional power – 1%
• Nuclear power – 1%
Cellnex UK is the UK’s largest and fastest-growing • Others (telecommunications) – 97%
independent owner and neutral operator of wireless
telecoms infrastructure. With the wireless infrastructure Headquarters: Barcelona, Spain
foundation that they deliver across rural and urban Year established: 2015
areas, Cellnex UK connects everyone, everywhere. Their Number of employees: 350 (UK)
networks and solutions are built to be fit for now and the Revenue: £200m
future so that the UK can prosper. Revenue from exports: 15%

104 Success stories
Cokebusters
Breaking new boundaries with a pioneering intelligent pig
enable customers to quantify how clean the process is,
but they also provide full diametric and wall thickness
James Phipps, Managing Director profiling, thus enabling an essential insight into asset
integrity.
In 2021, a new opportunity was presented to the

How is Cokebusters thriving? company from Oman operator, Petroleum Development
Oman (PDO) – to create a solution for the descaling and
Having dependably served the fired heater and power inspection of an equivalent 1GW solar steam array.
generation market for many years, Cokebusters was set an
entirely new challenge to provide its trademark combined The solution
services solution to mechanically descale and intelligently
inspect the ultra small diameter tubing within a vast solar The assignment from PDO has opened the door for
steam array. Cokebusters to enter a brand-new market, a crucial
breakthrough that will be essential to the futureproofing
The ability to successfully develop and deliver this service of the business as the world embraces energy transition
has unlocked a stream of new business opportunities in and net zero strategies.
the increasingly narrow diameter networks associated
with alternative energy markets. PDO’s Miraah plant converts water to steam by focussing
solar energy. The steam is utilised for a variety of utility
The challenge and process needs, including enhanced oil recovery.
The array comprises some 100km of tubing, with each
Established in 2005, Cokebusters has forged a reputation individual process loop being approximately 2km long.
as the international go-to for petrochemical and power
generating operators seeking to clean fired heaters, One hurdle for Cokebusters to overcome was that its
steam generation plants and associated pipelines with its latest third generation (Mark V) intelligent pig, whilst
mechanical cleaning pigs. capable of navigating an internal diameter as low as
65mm, was in fact still too large for the solar tubing
As a highly effective cleaning device, the patented network.
mechanical pigs have been the foundation and stalwart
of the business and enabled it to operate sustainably for Undeterred, the company set about the development
nearly two decades. Along its journey, the company found of a prototype intelligent pig that would be capable
its customers asking for more. A challenge from Total to of inspecting internal diameters as low as 40mm. Key
develop a pig which could ‘see’ how clean the surfaces questions addressed during the design phase included
really were triggered a chain of developmental events. how to create a robust exoskeleton which would house
the ultrasonic detection sensors and be light enough to be
Today, Cokebusters’ range of intelligent pigs not only sufficiently buoyant, as well as how to build a miniaturised

Success stories 105
power cell and what sort of end cap and brush design was
most appropriate.
Story type
Several designs were tested specifically in response to #innovation (main category)
these questions. Crucially, as well as being able to house #diversification, #technology
all the electronics in a much smaller device, the design
also had to allow flexibility to navigate through additional Benefits
tubing restrictions. • Successful development of a revolutionary new
intelligent pig.
Cokebusters had a working prototype within just six • Full contract pending following completion of minor
months. The testing process, using a purpose-built mimic engineering modifications on site.
loop, identified several new enhancements, including the • Ability to now provide rolling efficiency
need to modify the end cap design further as a result enhancement and integrity assurance for modern
of potential water ingress and navigational challenges. ultra small piping systems.
Meanwhile, several iterations of circuit board and power
design were also required. Key findings
For industry
In conjunction with smaller mechanical descaling pigs, • Be bold and take risks to feed innovation. You will
a full-scale trial was conducted on site in August 2022. succeed more often than you fail.
The pigs were able to successfully navigate and clean the • Time and bureaucracy can kill off a good idea.
complex circuits with a reported 20% enhanced efficiency, • Process safety should not take second place in the
all whilst collecting valuable integrity data to produce 3D drive for transition.
imaging of the solar steam tubing.
For government
The trial’s success is testament to Cokebusters’ ability • Hydrocarbon knowledge and experience will feed
to turn a challenge into a solution; a feat all the more innovation and transition.
impressive given the firm wholly funded the R&D work • There is room and requirement for all forms of energy.
behind the new Mark VI intelligent pig. With some minor • Support for SMEs should be aligned throughout the
equipment modifications required on site the company UK. Experience shows how engaging and forward-
plans to complete the remaining scope in 2023. thinking governments in Wales are.
Cokebusters has developed what is now believed to be the Cokebusters at a glance:

smallest, untethered, single bodied intelligent pig available Key products and services: Provision of technologies
worldwide. In doing so, the company has opened up an and services for specialised mechanical cleaning,
entirely new market for ultra small pipe diameters, a move water filtration and intelligent pig inspection of small
which will support the progressive reduction on traditional diameter tubes, pipes and pipelines.
power sectors such as oil, gas and coal.
About Cokebusters • Oil and gas – 90%
Cokebusters is an international energy and utilities • Renewables – 2%
services business specialising in the provision of • Others (chemicals) – 3%
mechanical decoking/descaling, intelligent pigging, and
associated integrity management advisory. From its world Headquarters: Chester, UK
headquarters in the UK and regional headquarters in Year established: 2005
the US, the company is able to consistently deliver high Number of employees: 105
quality services to the energy and utilities sector across Revenue: £11m
the globe. Revenue from exports: 97.5%

106 Success stories
Comeca
Breaking down barriers to unlock improved internal synergies
2020, when Comeca began to merge and align its internal
activities. It was a process which required an incredible
Christian Barbier, Strategic Marketing amount of work. Not only did each of the firm’s factories
Manager have an individual set of IT solutions, but they also had
unique administrative processes such as the presentation
of key documents which needed to be addressed. Various
How is Comeca thriving? branches of the quotations department needed to adopt
standard structures across all factories, for example.
Through operations and structures, Comeca has
undertaking an incredible innovation journey driven Marketing activities also had to be consolidated, while other
by improved internal synergies. Successfully merging parts of the business that had previously been fragmented
capabilities, enhancing its training strategy, and shifting were interconnected. The firm’s sales teams that each sold one
focus to end-to-end solutions, the firm has made range of products had to be trained on the entire enterprise
significant headway across key markets including electric portfolio as the company shifted focus to a solutions-based
vehicle charging, LV panels and green hydrogen. mindset, this approach also meaning that contracts would
become broader in scope, longer term and of greater risk.
The challenge
The changes were sweeping and would not fully bed in
An international business delivering a variety of energy overnight. However, this approach has already begun to
management solutions, Comeca has developed a bear fruit.
reputation for spearheading innovation. In recent times,
it has primarily been helping to drive vital progress across Not only has the company merged internal capabilities to
energy transition, digital transformation and new mobility. successfully provide end-to-end solutions for its clients,
Operationally, however, this footprint was presenting but it has also laid the foundations from which a more
challenges prior to 2020. While Comeca had developed comprehensive electric vehicle (EV) charging station
comprehensive capabilities across subsectors ranging solution has been rolled out.
from oil & gas and nuclear power to renewable energy
and energy transition technologies, many of its solutions This newly established offering has proven to be successful.
were individualised, and delivered in a siloed manner. This Responding to calls for a single provider capable of serving
was identified as an area for significant improvement – if the entire e-mobility solutions lifecycle, from electricity
Comeca could break down its internal barriers and unlock distribution to end-user product delivery, Comeca has
improved synergies across its operational portfolio, the become a leading supplier of connected charging systems
potential merits could be game-changing. for heavy-duty vehicles.
The solution In France, it now has a 60% share of the EV charging market
for electric buses in cities – up from the 20% recorded in
Resultantly, a new optimisation strategy was launched in 2019, and only expected to grow further moving forward.

Success stories 107
At present, the company is working on a major project for

Rennes Métropole that comprises the delivery of 94 AMBER
charging points for electric buses to charge in depot, which
will serve the region’s 220,000 inhabitants. Further, initial
testing of new markets across Europe is ongoing.
The choice to offer a modular and expandable DC charger

solution, with a power range that can evolve over time
from 50kW to 160kW, has been critical here – an offering
supplemented by superchargers or dome solutions that can
deliver power of up to 350kW. Further, a smart information
layer has been developed and incorporated to improve energy
efficiency, connectivity and minimise expenses for clients.
The merging of internal capabilities has also benefitted the

firm’s LV panel offering. The company has since upgraded
its NORMABLOC range that has been on the market since
1972, extending the life of French nuclear power plants.
And it has also supported improvement of its GALAXIS
range that is dedicated to oil & gas and continuous process
industries, helping to better meet the needs of the nuclear
markets of tomorrow. Story type
#transformation (main category)
In green hydrogen, Comeca is also making promising #energy transition, #people & competency, #service &
progress. Having anticipated a growth in demand for supply solutions
electrolysers, it developed ALLHYDRE – a power converter
dedicated to mobility and industrial hydrogen production. Benefits
Based on a modular design, ALLHYDRE supplies DC • Creation of a strong, diversified portfolio.
electrolysers from 200kW to 1.5MW, and can be delivered • Revenue of €127m in 2022.
as either a standalone product or a containerised solution,
this flexibility having attracted significant market interest. Key findings
For industry
Across these areas, the internal optimisation strategy has • Keep an open mind on possibilities. Find ways to
paid dividends. Where activities and factories previously combinate what you have to create something new.
had a siloed, single-product focus, that has now changed. • Use AI but don’t forget to think human. It’s too
With all markets and capabilities now interlinked, the firm easy to lose relationships by only using new
has unlocked significantly improved operational efficiency technologies. The truth is somewhere in the middle.
and synergies, while also enhancing its offering and
expanding its share in crucial markets. For government
• Ensure that government-financed R&D has access
Further, it is also now has a healthy and diversified portfolio. to the market.
Having achieved a revenue of €127m in 2022, €39m
stemmed from its energy portfolio, while the rest was split Comeca at a glance:
between industry (€34m), transport and infrastructures Key products and services: Manufacturing of
(€34m), and building (€20m). In no uncertain terms, the electrical and power electronic devices.
firm has diversified successfully in order to futureproof for
years to come. Main industries served:
• Energy – 31%
About Comeca • Others (building, industry, transport &
infrastructures) - 69%
In an increasingly electrical world, Comeca provides
equipment and services dedicated to distribute, optimise, Headquarters: Montpellier, France
and master the energy all around the world. As a multi- Year established: 1976
brands and multi-technologies player, Comeca is a major Number of employees: 1,500
actor in the industry, energy, infrastructures, commercial Revenue: £112m
buildings and transport sectors. Revenue from exports: 11%

108 Success stories
Consortiq
Flying high by helping firms make the most out of their drone data
The solution
Gareth Beverley, Managing Director The elevation of Gareth Beverley to CEO in 2020 sparked
the beginning of a more joined-up approach to doing
business.
How is Consortiq thriving? This did not require a root and branch transformation by
any means. Instead, the transition represented a natural
As more and more companies take advantage of drones evolution of the team so it could offer combined drone
to carry out vital inspection and data gathering tasks, piloting, consulting and training in a seamless and flexible
Consortiq has successfully repositioned itself as a way depending on client needs.
consultative partner, pilot and pilot trainer capable of
unlocking key productivity benefits. Such has been the Indeed, the key to shifting successfully has been to allow
success of the move, revenues are set to treble in 2023. the experts within the Consortiq team to be able to follow
new opportunities, a culture built around trust and scope
The challenge for development, as well as learning and collaboration.
Alongside this, the firm started to be more precise in its
Far from being a novelty gadget or a ‘nice to have’ for recruitment of skills, hiring talent to fill very particular gaps.
businesses, drones are quickly becoming a vital tool for
energy asset operators seeking a more efficient, accurate Now positioning itself as a consultative partner, Consortiq
and safer way to carry out critical inspections and adopts a relationship building approach to doing business
surveys. as opposed to operating on a purely transactional footing.
This is proven by its 2022 revenue breakdown, which
For London-based Consortiq, starting out in 2015 centred shows that 43% of all income is derived from activities
around CAA-accredited drone pilot training. Over time, with recurring clients.
the company realised the value in diversifying its services,
moving into consultancy to offer advice on how clients in Such customers include The Chemours Company, an
various sectors can make the most out of drone usage, as American chemical firm that was founded in 2015 as a
well as how to ensure data best practice. spin-off from DuPont.
This consultancy style work took off from 2018 as more Consortiq was onboarded in 2019, initially as a consultant.
and more companies sought about accelerating their Over time, the relationship has progressed as the company
digital transformation and industry 4.0 strategies. With sought to incorporate LIDAR into its asset inspection
drones entering the mainstream at the same time, the activities, Consortiq flying these specialist missions to
company soon realised it was sat on a potential gold ensure it reaps the full benefit of what LIDAR has to offer.
mine of business – provided it positioned its offering and
expertise in the right way. Since 2020, the enhanced use of drones has enabled The

Success stories 109
Chemours Company to reduce the need for humans to be

on site carrying out inspections in potentially dangerous
areas and cut the amount of manual processes involved.
This has brought about key safety and financial benefits. For
example, it is estimated that $9mn in costs can be saved Story type
annually on stack inspections across its sites by removing #collaboration (main category)
the need for expensive crane hire and human inspectors. #digital, #service & solutions
Meanwhile, in the area of tank inspections, periodical checks
used to involved US$125,000 per inspection – thanks to Benefits
the incorporation of drones into the process, that cost is • Revenues set to triple in 2023.
reduced to somewhere closer to US$20,000. Taking into • Approach to doing business mordenised.
consideration the scale of The Chemours Company’s asset
portfolio, Consortiq is enabling savings of around US$5–10m. Key findings
For industry
Additionally, the client looks set to make further efficiencies • Don’t be afraid to give people the freedom to learn
in parts ordering, the use of drones now enabling it to and try new ideas.
order only what is needed in a much more responsive • If you want to implement new technology
manner. Likewise, its human workforce are now freed up successfully, need buy-in from the top, and
to take on more preventative tasks, a move which should promulgating through organisation. Bottom-up
lead to superior uptime and reliability outcomes. advocacy only gets you so far.
It is long-term, collaborative relationships such as this that For government

typifies Consortiq’s modernised approach to doing business. • Reform the drone/aviation regulators to be
forward-thinking, growth-based.
Indeed, it is a strategy that appears to be translating into • Be less focused on bureaucracy, be more focused
success financially, with revenues set to treble to US$3m on the bigger market-creation prize.
in 2023 after the firm reached the US$1m landmark last
year. By proving its worth across a multitude of drone- Consortiq at a glance:
related services and positioning itself as the partner to Key products and services: Use of drones and digital
help organisations maximise their use of drones, Consortiq technology to customers safely and more efficiently.
looks well set on its onward growth journey.
About Consortiq • Oil and gas – 45%
Consortiq are Drone Enablers. They bring together • Renewables – 5%
consultancy, training, and flying in their Enterprise Drone
Blueprint, and using this blueprint Consortiq aims to Headquarters: London, UK
enable 1 million drone flights for its clients in the next Year established: 2015
10 years. Consortiq aims to help clients find a better way Number of employees: 10
to improve their safety, efficiency and quality through the Revenue: £821,910
use of drones and robotic technologies. Revenue from exports: 60%

110 Success stories
COOEC-Fluor Heavy Industries

Providing high quality fabrication certainty during challenging times
How is COOEC-Fluor thriving? period including multi-wave infection resurgence in the local
area, price increases in bulk materials, manpower mobilisation
COOEC-Fluor Heavy Industries (COOEC-Fluor) has been challenges due to limited ability to travel weekly even within
in operation since 2012. At over 2 million square meters, the provinces, and sometimes daily testing requirements
COEOC-Fluor is one of the largest fabrication yards in the for a crew of up to 15,000 craft workers, to name a few.
world with a capacity to deliver in excess of 250,000 MT/ In order to effectively mitigate these issues, COOEC-Fluor
yr and completed structures of up to 50,000 tonnes. With took a very pioneering and pro-active approach.
an unwavering focus on maintaining quality and safety,
this fabrication yard has rapidly developed a proven track The solution
record in delivering for significant projects working with
internationally renowned clients in offshore oil and gas, The major priority was to ensure that the Zhuhai
LNG, refining and chemicals. fabrication yard always remained operational, responding
effectively and efficiently to minimise impacts to clients’
The challenge projects, all while always keeping its personnel safe.
Around the onset of the Covid-19 pandemic, COOEC- Some of the strategies employed were:
Fluor had secured significant contracts for clients in
Asia, Europe and the Americas. Among these were 157 - Developing specific safety policies to be implemented
modules for a large LNG project in Canada, 34 fixed during the Covid-19 andemic.
platform jackets for an offshore windfarm in the UK, Asia’s
largest deepwater jacket to be installed in the South China - Establishing proper communication channels for
Sea, as well as several other large onshore and offshore Covid-19 and safety protocols.
modular projects.
- Developing proper quarantine protocols for incoming
The yard faced several challenges during the pandemic vessels and personnel.

Success stories 111
Story type
#diversification (main category)
#collaboration, #export, #resilience, #service &
solutions
Benefits
- Providing free weekly covid testing for all craft and staff. • COOEC-FLUOR becoming a leader in the Chinese
fabrication market, delivering approximately
Due to these and other conservative measures, the 130,000 metric tonnes of fabrication solutions on
Zhuhai yard did not have a single incidence of Covid-19 an annual basis.
outbreak throughout the pandemic while the yard • Company building Asia’s largest deep-water jacket
delivered over 125,000 MT of fabricated steel each in and entering the renewables sector.
2021 and 2022. While the initial phases of the pandemic • Significant quayside accommodating large vessels
proved challenging, this firm was successfully able to without height restrictions for delivery to western
implement strategic control mechanisms to keep the yard locations.
open and operational without any compromise on safety
and quality. Key findings
For industry
In the last few years, COOEC-Fluor has also made • As one of the largest fabrication yards in the
significant strides in developing and implementing a world, COOEC-FLUOR is always engaged to offer
strategy for the offshore wind market. According to the most efficient solutions to energy players by
the Global Wind Energy Council, global offshore wind providing fabrication certainty.
capacity will go from close to 100GW currently installed • Worked diligently to prove that Chinese yards
to over 300GW. Europe and China will account for the can offer a combination of quality and good value
bulk of this installed capacity. With its large assembly area solutions.
and production capacity, COOEC-Fluor has the ability of
a “manufacturing driven” approach for the fabrication of For government
offshore wind platform foundations and transition pieces • Providing the most efficient solutions to renewables
and capitalise on this rapidly growing industry. market in China, COOEC-FLUOR is exploring its
way to contribute to the government’s net zero
Looking ahead, the company is now exploring further commitment.
international growth in renewables, deepwater oil and
gas as well as large scale module fabrication for the COOEC-Fluor at a glance:
upstream, downstream and chemical industries. With a Key products and services: Offshore fixed platform
proven domestic and international track record behind jackets and topsides, onshore modules fabrication and
it, COOEC-Fluor looks well placed to expand its horizons assembly, offshore wind foundations and substations,
even further. floaters, FPSO/FLNG modules, subsea equipment.
About COOEC-Fluor Main industries served:

COOEC-Fluor Heavy Industries (COOEC-Fluor) is a • Conventional power – 33%
joint venture formed by Fluor and China Offshore Oil • Renewables – 33%
Engineering Co. (COOEC), a subsidiary of China National
Offshore Oil Corporation. Through COOEC-FLUOR, the Headquarters: Zhuhai, China
appointed management team operates and manages the Year established: 2012
Zhuhai Fabrication Yard in China’s Guangdong province. Number of employees: 1,500 (direct yard employees)
At 2 million square metres, the yard can accommodate 10,000 – 15,000 (subcontracted employees)
fabrication modules weighing more than 50,000 tonnes. Revenue from exports: 50%

112 Success stories
Crondall Energy Ltd

Navigating a difficult labour market with a cutting-edge approach to culture
the industry retrenched, and energy producers deferred
investment into new projects, leading to a fall in demand
Murray Anderson, Energy Transition for front-end engineering consultancy skills. However,
and Strategy Director owing to rapid realignments in energy supply following
events in Ukraine, demand swung dramatically.
How is Crondall Energy Ltd thriving? For Crondall, this has highlighted potential concerns with
staff recruitment and retention. With the firm’s main
Crondall Energy Ltd is growing not just quickly, but product being engineering hours delivered by skilled staff,
effectively. Driven to solve some of the biggest challenges it needed to avoid reducing headcount at times of low
in offshore energy floating and subsea technologies, the demand. However, in times of high demand, the company
firm has made the recruitment and retention of talented becomes more exposed to movements in the labour
engineers its number one priority. market and must act to retain staff.
With investment in a new Glasgow office to attract That said, staff salaries and customer charge-out rates do
local talent, and by targeting UK universities for quality not change quickly, and market volatility therefore has had
engineering graduates, supporting chartership for all its to be managed carefully to underpin profitability and take
engineers, and re-enforcing shared values and culture, the advantage of any upturn in demand.
firm has successfully retained its staff amidst challenging
labour market conditions. The solution
The challenge To combat the challenges posed by rapidly fluctuating

market conditions, Crondall considered how to
Despite its reputation, the firm has not been immune to keep headcount stable at times when revenues are
the difficult conditions that stemmed from instability and unpredictable.
unpredictability in key energy markets in recent years,
largely driven by the substantial transition resulting from Here, it opted to provide visible and ongoing opportunities
moves towards net zero. for all staff, while ensuring all employees also felt listened to
and heard, enabling the development of clear progressive
While this has brought opportunities for engineering paths that are aligned to individual aspirations.
consultancies, it has also posed challenges, many of
which have been amplified by large swings in the energy To execute this more effectively, the enterprise also took
price market, the global covid pandemic, recent events in the decision to bring its subsea and floating production
Ukraine, and the ongoing cost-of-living crisis. companies together under a single board and management
team in mid-2022, this helping to rationalise the commercial
At the outbreak of the covid pandemic in early 2020 and and corporate structure of the organisation and ensure a
following a prolonged downturn in oil and gas prices, unified culture.

Success stories 113
Now, the board meets formally every two months at each

of the firm’s key UK offices on a rotating basis, ensuring
all staff and management can meet and socialise at least
twice a year. Albeit a relatively simple aspect of Crondall’s
strategy, it is highly effective in contributing to a genuine
feeling of unity within the organisation.
Beyond culture, these changes have also enabled the firm

to rationalise its recruitment strategy and open additional
opportunities for existing staff. Operating effectively as Story type
a single company with twice the headcount has allowed #people & competency (main category)
Crondall to scale up its human-resources capability, and #culture
more effectively support existing staff, all while freeing
up senior management time to focus on the strategically Benefits
important recruitment requirements. • Dedicated HR resource to ensures consistency in
Crondall’s approach to issues.
The reorganisation and restructuring have further • No staff lost due to the reorganisation and
provided promotion opportunities and facilitated more additional younger engineering hires providing a
bandwidth for recruitment of technical staff across a stable, well-motivated basis for growth.
wider range of engineering disciplines and geographical
locations. Key findings
For industry
While it has been just one year since this restructuring • Aim to recruit high quality staff and retain. It’s more
has taken place, with the process still ongoing, Crondall efficient to recruit capable engineers and invest in
is already beginning to see several benefits emerging. training than to spend management time addressing
Indeed, it now has a dedicated HR resource across the a high turn-over of resources.
organisation which ensures consistency in its approach to • Retention of knowledge at all levels is a key part of
issues such as staff reviews, communication, promotions, future development, and being open to transferring
benefits and all other aspects of retention and recruitment. that knowledge between sectors will play a major
role in how quickly the transition away from
The firm has not lost any staff as a direct result of the hydrocarbons as a principal energy supply can
reorganisation in the last 12 months, while its senior occur.
team are now averaging 10-plus years of service. Further,
the company’s recruitment drive has seen it become For government
successful in reducing the average age of its engineers, • Have a stable long-term energy strategy and clarity
with several of its staff now working across a broader over the speed and direction of travel required to
range of disciplines. achieve net-zero targets.
Having made significant progress, Crondall is now looking Crondall Energy Ltd at a glance:
to keep the momentum up. Between enhancing its focus Key products and services: Energy transition,
on hiring high quality engineering graduates from many offshore renewables, floating production, subsea
universities across UK, encouraging all its engineers and pipelines, business consulting and technology
become fully chartered, and continuing to re-enforce its development.
shared values and culture through several initiatives, the
firm looks well placed to sustain its satisfied workforce Main industries served:
and reputation as an employer of choice in the future. • Oil and gas – 73%
About Crondall Energy Ltd • Renewables – 4%
Crondall Energy is a leading independent consultancy
providing strategic, commercial and technical services Headquarters: Southampton, UK
for offshore energy projects using floating and subsea Year established: 2000
technologies. With over 20 years of experience, it helps Number of employees: 45
clients to manage technical, commercial and strategic risks Revenue: £7.2m
and achieve positive project outcomes. Revenue from exports: 50%

114 Success stories
Deepsea Technologies UK
Emerging stronger than ever from a period of significant uncertainty
the enterprise would be shut down, resulting in tens of
job losses.
Mark Lamyman, International This task landed in the lap of Managing Director Martyn
Business Development Manager Conroy, who quickly came under huge pressure. It was
Charlie Bamford, Sales & Marketing Co-ordinator a major period of uncertainty in which some employees
were let go. Yet under Conroy’s leadership, the team stuck
together, holding their nerve as they attempted to find a
How is Deepsea Technologies UK thriving? solution that would enable them to emerge stronger than
ever.
Deepsea Technologies UK, formerly known as AFGlobal
UK before being acquired by Deepsea Technologies Inc The solution
in July 2022, has endured a rollercoaster ride in the past
12 months. Having begun 2022 faced with a difficult Indeed, this is exactly what was achieved. Thanks to the
business sale process, the division successfully found the perfect amount of patience and some fruitful and frank
perfect new partner and owner in Deepsea Technologies discussions, Conroy and the AFGlobal US Management
Inc the merger having provided huge benefits thanks to a team were able to find an ideal new owner and partner in
wider portfolio of subsea production technologies, with the form of Deepsea Technologies Inc and its President,
huge export potential for the UK business. Sanjay Reddy.
The challenge With the buyer found in June 2022, and a successful
acquisition following quickly in July 2022, AFGlobal UK
Prior to becoming Deepsea Technologies UK, AFGlobal was rebranded to Deepsea Technologies UK. Thereafter,
began 2022 in a tricky position. AFGlobal was in the the two enterprises’ product portfolios were merged to
process of selling off various segments and was looking create a new UK subsidiary with bolstered resources,
to step away from subsea, leaving the diver-less and improved engineering power, and greatly enhanced global
diver assisted engineered technologies division – the last prospects.
remaining division – in desperate need of a buyer.
As a result of this integration, Deepsea Technologies UK
Due to economic difficulties stemming from the Covid-19 is able to use in-house manufacture to enable quicker
period, and wanting to leave the subsea market, the delivery and reduced costs.
former owner decided to reduce their exposure and find
funds, asking the AFGlobal team to find a buyer for the Further, the subsidiary is able to readily tap into Southeast
business immediately. If a resolution couldn’t be reached, Asian and LATAM markets, thanks to its parent company’s

Success stories 115
footprints in India and Brazil, these also serving to lower

manufacturing costs and reduce logistics-associated
emissions.
As with any merger, there have been some teething

problems, from combining the firms’ websites and Story type
marketing platforms/messaging to blending the technical #collaboration (main category)
knowledge of its teams. However, ultimately, Deepsea #resilience
Technologies UK has found itself on much firmer footing
as it embarks on a new year in 2023. Benefits
• Substantial Brazilian contract won.
Where the subsidiary’s revenues had dropped 71% from • Manifold and PLEM engineering to be conducted by
2021 to 2022, this is now expected to rebound and rise UK office.
by 180% in 2023, exceeding those figures achieved in
2020 and 2019. Key findings
For industry
Kicking off this recovery will be the group’s new major • Take that leap into a new business and into the
Wahoo, Campos Basin a substantial contract win energy – a lot of opportunities, now is the time to
from operator PetroRio in Brazil, with a considerable take them.
scope coming to Bromborough, UK office that will • Built trust wins work.
see the provision of a subsea production system and
manifold. Indeed, after a year of major uncertainty, the For government
UK enterprise is now eyeing significantly more fruitful • Help businesses to go on more delegations for new
horizons ahead. market entry.
• Detail technical specs to enter the floating offshore
About Deepsea Technologies UK wind market.
With multiple production and manufacturing facilities Deepsea Technologies at a glance:

across the world, Deepsea Technologies provides both Key products and services: Design and delivery of
diver-less and diver assisted engineered technologies for pressure containing equipment, driverless connection
the energy sector. systems, compact flanges, hot stabs, PLEM’s, bend
stiffener connectors, offshore service support,
These technologies are bespoke designed, built and engineering and ROV tooling.
installed by Deepsea UK’s team in some of the harshest
offshore environments. Main industries served:
The company has over 30 years of experience in the design
and delivery of pressure containing equipment, compact Headquarters: Bromborough, UK
flanges, hot stabs, PLEM’s, bend stiffener connectors and Year established: 2005
ROV (Remotely Operated Vehicle) tooling. This includes Number of employees: 43
well established products such Taper-Lok® flanges and Revenue: £10m
Retlock® Diverless connection systems. Revenue from exports: 71%

116 Success stories
deugro
Driving forward with digitalisation, innovation and energy transition
many of its major clients in the energy industry were used
to standard contracting models based on long-term fixed
Jasmina Tuncheva, rates, yet servicing these contracts proved to be a major
Senior Tender Manager challenge in this highly volatile freight market environment.
Some carriers would not honour long term fixed rate

How is deugro thriving? contracts nor commit on any rate validity. Obtaining space
and equipment availability became a challenged due to the
Recognising the need to evolve in the face of difficult overdemand caused by the pandemic.
market conditions, deugro has taken significant strides
forward on multiple fronts. From collaborating more The solution
closely with its clients, carriers and ports to leveraging
market intelligence, tailoring client solutions, introducing Given the circumstances, deugro recognised it would
innovative contract models and pursuing transformative soon face significant financial difficulties and the inability
energy transition and digitalisation strategies, the company to deliver project cargoes on time if it didn’t work to
has futureproofed with a brand-new business model. overcome these challenges. In opting to proactively follow
all market developments and indices closely, the firm
Having successfully completed more than 200 onshore successfully began to negotiate alternative contracting
and offshore wind projects in more than 40 countries since models for the project forwarding industry.
2003, deugro has established itself as a leading provider of
key logistics services to the energy industry. From project These models – including index-based pricing, cost plus
planning and preparation to complex transport engineering options or various hybrid models – ensured deugro could
concepts and the complete logistical handling of turnkey provide the highest standards of service to its clients, even
projects, the firm has built a renowned reputation. when it was faced with a lack of space and equipment
availability, skyrocketing freight rates, port congestions
The challenge and cancelled sailings. Critically, these models are now
allowing its customers to benefit from cost efficiencies
Despite deugro’s solid position in the market, even the most and optimise their supply chain costs, especially with the
robust companies have faced hardship in recent years. current softening of the freight markets in last few months.
While the covid pandemic resulted in global economic
and societal hardships that impacted capital investments, At the same time, the firm worked extremely close with
environmental and climate change commitments, and the its clients on obtaining strategically informative and
global demand for goods and services, the Russian Invasion accurate project outlooks, supporting their planning and
of Ukraine then further exacerbated the situation, adding consolidation efforts while also looking at alternative
even more uncertainty to global supply chains. modes of transport.
The key challenge for deugro stemmed from the fact that In addition to these alternative contracting models,

Success stories 117
deugro has placed strong emphasis on digitalisation and

innovation in the last five years. First, the firm has invested
into a new, state-of-the-art IT system called deugro
visiotrack – a highly customisable customer information
portal designed to help clients not only obtain live tracking
updates on their cargo, but also acquire QHSES and
financial project information. Meanwhile, the firm has also
rolled out a new transport management system, Axis, a
CargoWise integrated logistics execution platform, for its
global forwarding operations.
deugro also has been looking at servicing both its traditional

energy and EPC clients better while focusing on energy
transition. Here, it has joined forces with NORDFROST in a
strategic cooperation officially announced in January 2023
that will see the establishment of a new Green Energy Story type
Logistics Hub in Wilhelmshaven, Germany. It will serve #service & solutions (main category)
clients in the onshore and offshore wind energy industry, #collaboration, #digital, #innovation, #resilience
as well as grid-related players. In terms of services, it will
offer handling, storage, consolidation and commissioning of Benefits
components, as well as condition inspection, packing and • About 25% of revenues now coming from
stowage/unloading of containers, import/export clearance renewables projects.
and more, primarily to clients across Central Europe. • Over 90% of projects delivered in a timely and safe
manner during the last 12 months.
With its tide-independent access from the North Sea
and direct, traffic-light-free hinterland connections to the Key findings
German freeway, the new facility will enable the delivery For industry
of faster services. Existing port handling capacities • Create future talent pools through skills and hiring,
guarantee an optimal process flow, while expansion reskilling programs, flexible working. People are the
options will be able to improve scalability. best assets of our business, so look after them.
• Be open to embrace change to remain competitive.
deugro has adapted successfully in order to succeed in the
face of tough and changing market dynamics. Today, 25% For government
of the firm’s revenue is driven by renewables spanning • Allow policy changes to foster innovation and
onshore and offshore wind and hydrogen, its energy develop human capital.
transition journey now well underway. The company
also looks to progress with its talent development and deugro at a glance:
digitalisation strategies simultaneously. Key products and services: Leading international
project freight forwarder specialising in executing
From winning new contracts with existing clients (80%) turn-key projects and engineering logistics solutions
and newly established customers (20%) to seeing greater for various industries.
success in the green market, deugro seems well placed to
expand its already formidable footprint moving forward. Main industries served:
About deugro • Renewables – 25%
deugro is a highly specialised project freight forwarder • Nuclear power – 5%
with a strong focus on turnkey logistics solutions for • Energy Transition – 5%
various industries. The company was founded in 1924 • Others (pulp & paper, infrastructure, mobility,
in Frankfurt am Main, Germany, and has a proven mining) – 15%
track record in successfully executing projects of any
magnitude, even under the most challenging conditions Headquarters: Pfäffikon, Switzerland
and requirements. Thanks to a vast network of more than Year established: 1924
70 company-owned offices in over 40 countries, deugro Number of employees: 1,400
leverages comprehensive and in-depth expertise around Revenue: £843m
the world to deliver on its promise. Revenue from exports: 90%

118 Success stories
Draeger
Shifting business model to remain relevant in the health and safety market
of safety products designed for hazardous environments.
Euan McIntosh, Marketing Manager By 2020, the time had come to change tact in order to
keep up with moving market demands. Given the financial
difficulty facing the oil and gas sector, many clients had
approach Draeger with requests to hire equipment rather
How is Draeger thriving? than invest cash in purchasing. Alongside this, the covid
pandemic was disrupting supply chains and impacting lead
Operating out of its base in Aberdeen since 2010, Draeger times – something had to change.
needed a fresh start. Clients were asking for the option
to hire its equipment, while the site was bursting at the The solution
seams as the company continued to grow its footprint. In
2020, a new strategy was developed which transformed The decision to switch to a solution hire and servicing
the firm’s operating model and brought it in line with model was a logical one given the circumstances.
market needs, with a new facility in Dyce providing the Furthermore, its best-in-class products could be hired out
perfect base from which to start a brand-new chapter. several times and generate greater value for the company
over the course of their lifetimes in comparison to selling.
The challenge
To execute this shift, Draeger had to transform its
Draeger has been manufacturing safety products for more Aberdeen operation from manufacturer and seller to
than 130 years. Founded in the German city of Lübeck in a service-driven enterprise centred around building up
1889, it has grown into a worldwide business with more long-term relationships with clients.
than 15,000 employees working out of 50 countries and
a customer base spread across over 190 countries around A complete business review was conducted in 2020 to
the globe. plot out a path to making this a reality. A new premises in
Dyce was secured, a site three times larger than its base
The company has been trading in the UK since 2001, in Aberdeen that the firm moved into in 2012 on a 10-
its base in Aberdeen having been established in 2010 to year lease. Meanwhile, £600,000 was invested in hire
provide the marine and offshore sectors with a full suite equipment, the total investment in the new setup being

Success stories 119
a considerable seven-figure sum that also involved the

hiring of new employees to grow the team by 15%.
In order to secure financial backing, the UK leadership

team developed a 10-year business plan and presented
the new hire and service model to group headquarters Story type
in Germany, which gave the green light and backed the #service & solutions (main category)
strategy. Indeed, the support of the wider enterprise has
been invaluable in the ongoing development of the UK Benefits
business. • Increase on annual revenue by 25% in one year.
• Growth in the number of quotations sent abroad by
Once up and running, a major priority was to market the 27%.
new proposition to current and prospective clients –
this proved to be an initial challenge due to an already Key findings
competitive marketplace and the fact time was needed For industry
to build up trust with the customer base. That said, • If you have a belief in something, go for it.
momentum is starting to gather. • Make sure people value the environment they
work in. The way company treats its people is as
Indeed, revenue trends look promising despite it still important as the remuneration.
being relatively early days. In 2022, the hire business
significantly turned over its revenues, achieving around For government
30% of the Aberdeen unit’s total business and 25% up • Support traditional oil and gas industry. Focus on
on what was generated in 2021. Last year also saw a 27% here and now, not on 10-year dreams.
growth in the number of quotations sent out.
Draeger at a glance:
As well as successfully pivoting to boost its own revenues Key products and services: Marine and Offshore
from the Aberdeen business, Draeger has also underlined – detection of hazards in hazardous environments,
its long-term commitment to the region and UK’s energy breathing apparatus and gas detection and portable
sector. Now that it is based in a fit-for-purpose facility solutions, training academy, service and maintenance,
and able to meet demand for the hire of its solutions, the hire division and engineering solutions division.
company is very well placed to continue supporting the
health and safety of client operations in the country. Main industries served:
About Draeger • Renewables – 5%
Draeger manufactures medical and safety technology • Others (water and industrial) – 10%
products. In so doing, the company protects, supports,
and saves people’s lives around the world in hospitals, with Headquarters: Lubeck, Germany
fire departments, emergency services, authorities, and in Year established: 1889
mining as well as industry. Founded in 1889, the Dräger Number of employees: 26 (Aberdeen Marine &
Group is currently present in more than 190 countries and Offshore)
has over 15,500 employees worldwide. Revenue from exports: 100%

120 Success stories
Emerging EPC
Navigating uncertainty and driving growth through innovation, human capital
development, and sustainability
Emerging EPC adopted a comprehensive approach to
risk management and innovation. By closely examining
Bin Mohd Johan Kamarul Bahrain, its processes for identifying, assessing, prioritising, and
Exec Dir mitigating risks, the company succeeded in uncovering
new opportunities and effectively managing potential
threats to its operations and profitability.
How is Emerging EPC thriving?
This proactive approach to problem-solving, coupled
In an era marked by unprecedented challenges, including with a commitment to agility and adaptability, enabled
the oil price crash and the global pandemic, Emerging Emerging EPC to invest in emerging technology solutions,
EPC has not only survived but has thrived, demonstrating pursue alternative supply chain strategies, implement
remarkable resilience through proactive risk management, cutting-edge project management and communication
continuous improvement, and a strategic focus on tools, and explore new markets and service offerings. For
innovation, human capital development, and sustainability. instance, the company pivoted to seize opportunities in
As a leading oilfield services provider established in 2012, digital analytics and Maintenance 4.0, allowing it to remain
the company’s journey through adversity offers valuable at the forefront of industry developments.
insights for energy professionals and oil and gas operators
seeking to capitalise on opportunities and overcome In the post-Covid era, the competition for skilled workers
obstacles in a rapidly changing landscape. has intensified, necessitating greater investment in talent
development and retention. To prevent its workforce from
The challenge being drawn away by competitors, Emerging EPC has
prioritised employee growth and development, providing
In the years following its 10-year anniversary, Emerging comprehensive training programs for internal personnel to
EPC faced a confluence of challenges, beginning with the become competent in various compression systems and
2017 oil crisis and exacerbated by the Covid-19 pandemic. brands. Moreover, the company has cultivated a culture
The industry as a whole was confronted with supply chain of continuous improvement and learning, ensuring that
disruptions, project delays, increased regulatory scrutiny, management regularly monitors and reviews its strategic
and fluctuating material prices, while also grappling with direction to remain nimble and responsive to market
the need to cut costs and maintain a competitive edge conditions. Recognising the increasing importance of
in the talent market. Travel restrictions and quarantine environmental, social, and governance (ESG) considerations
protocols further strained the industry’s ability to remain in the energy industry, Emerging EPC has made sustainability
cost-efficient and effective. a central pillar of its growth strategy. This focus on ESG not
only positions the company as a responsible and forward-
The solution thinking player in the oil and gas sector, but it also helps to
generate new business opportunities by aligning with the
To address these challenges and chart a path forward, evolving expectations of clients and stakeholders.

Success stories 121
By providing innovative solutions in compressed air/gas,

filtration/separation technologies and non-metallic pipe
systems, Emerging EPC aims to support companies in
optimising production and reducing costs, while minimising
the environmental impact of their operations. Furthermore,
the company plans to invest heavily in research and
development to maintain its technological leadership
in these fields, and to forge strategic partnerships with
industry stakeholders to drive sustainable growth.
As Emerging EPC looks to the future, the challenge lies in

striking the right balance between honing its expertise in
specialised services and remaining flexible and adaptable
to the ever-changing market conditions. By maintaining
a customer-centric approach and delivering high-quality,
innovative, and sustainable solutions, the company is well- Story type
positioned to continue its growth trajectory and cement #service & solutions (main category)
its reputation as a leader in the oil and gas services sector. #innovation
In conclusion, Emerging EPC’s success story is a testament Benefits

to the power of embracing change, driving innovation, and • Enhancement of Emerging EPC’s market position,
prioritising human capital development and sustainability allowing it to become the industry leader in oilfield
in an uncertain and rapidly evolving industry landscape. services through competency and innovation.
By adopting a proactive approach to risk management, • Substantial investment in research and development
continuously improving its processes, and strategically to maintain sustainable cutting-edge technological
investing in technology, talent, and ESG initiatives, the expertise.
company has demonstrated its ability to not only survive
but thrive in the face of adversity. Key findings
For industry
For energy professionals and oil and gas operators seeking • Embrace sustainability: Encourage the industry to
to navigate the complex challenges of today’s market, embrace sustainable practices and design, building
Emerging EPC’s journey offers valuable lessons and insights. projects that promote environmental stewardship
By emulating its commitment to adaptability, innovation, and long-term social and economic benefits.
talent development, and sustainability, businesses across • Highlight the importance of embracing human
the sector can unlock new opportunities, enhance their capital, digital transformation, and innovative
competitiveness, and build a resilient foundation for long- technologies such as automation, AI, and machine
term growth and success. learning to increase efficiency, reduce costs, and
improve safety.
About Emerging EPC
For government
Emerging EPC Sdn Bhd (EEPC) is a leading System • Promote sustainable initiatives and innovation.
Integrator & Solutions Provider in the Southeast Asian Oil Embraced and complying regulatory requirements.
and Gas industry, specialising in innovative and sustainable
solutions such as air and gas compressors, process Emerging EPC at a glance:
filtration and separation, zone 2 diesel and gas generator, Key products and services: System integrator and
non-metallic pipe and nitrogen generator packages. With solutions provider for the oil and gas industry.
a focus on localisation and customisation, EEPC adheres
to international standards and has ISO9001 & ISO18001 Main industries served:
certifications. • Oil and gas – 90%
• Others (general industry) – 10%
In December 2021, EEPC launched its Industrial Internet
of Things (IIoT) division, “EARS,” aiming to improve Headquarters: Puchong, Malaysia
asset management, preventive maintenance, and ESG Year established: 2012
compliance. By 2030, EEPC envisions becoming an agile Number of employees: 65
organisation, embracing technology, digitalisation, and Revenue: £11m
sustainability to enhance community life quality. Revenue from exports: 15%

122 Success stories
EquipSea
Pursuing savinvy investments to emerge successfully from market crises
into an increasingly harsh national energy landscape.
Undoubtedly, the Petrobras crisis was the main obstacle,
but the pandemic prolonged the consequences for the
market for a further year and a half.
Claudio Evangelista, CCO
Vitor Ramos, CEO The solution
Despite these hardships and its vulnerable position as

How is EquipSea thriving? a new company in the market, EquipSea continued to
power on, the business persevering with its strategic
A Brazilian manufacturer of welded, machined and coated growth plan that involved investing in new machinery and
parts and provider of turnkey tested sets, EquipSea has the expansion of its shop floor.
emerged from a difficult early period even stronger than
before. Through a focus on quality, continuous client alignment Although its projects were frozen, EquipSea’s leadership
and willingness to invest during hard times, the company has made the major decision not to dismantle its team of 50-
seen its revenues double for three consecutive years. plus staff, instead pulling together and working tirelessly to
put the company in the best possible position to emerge
The challenge from the crisis stronger than when market conditions
began to improve.
EquipSea celebrated a successful sixth birthday at the
beginning of 2023. And while it is a young company, This decision was made easier by the strong relationships
its relatively short story so far has been fraught with that the company had already cultivated with its industry
challenges and curveballs. partners in the short period it had been operating.
Indeed, many of the major industry players in Brazil’s oil
While the organisation was founded in 2017 and enjoyed & gas market reassured EquipSea that they would remain
relatively fruitful beginnings, it was then plunged into operational in Brazil for decades to come. Further, some
incredibly difficult few years with Brazil’s internal oil & gas even began to provide forecast scenarios for the coming
market facing several major challenges. Between 2018 and years and queried EquipSea on how it would help to deal
2019, the Petrobras crisis – labelled the biggest corruption with those demands.
scandal in Latin America’s history that saw executives at
Brazil’s national oil company accepting bribes in return In fact, this kept Equipsea calm and faithful during an
for inflated contracts – began to explode, causing market incredibly tricky period, providing the grounds to maintain
activity to grind to a near halt. confidence in the national oil and gas market despite the
hardships and historical oscillations.
From 2020 onwards, EquipSea then equally began to
experience the worst effects of the pandemic, including Further, EquipSea’s candid conversations and open-door
raw material shortages and price increases that all fed policy with clients enabled it to adapt its offering to better

Success stories 123
align with its clients’ changing needs. While the company

had originally been known for small-sized, lightweight and
low complexity products, it began to take on projects that
required welded fabrication and machining while improving
its ability to take on complex technical tasks involving
hydraulics, electrics and testing to cater to demand.
This willingness to align with clients’ needs wherever possible

didn’t go unnoticed. Take its support of OneSubsea in
delivering a project for Shell, for example. This was a unique
development in which special welds (F22 and F65 with
buttering) were required. Being the only company in Brazil
with the specifications for producing such welds, EquipSea
expands its capabilities from simple welds so that it could
deliver special processes for global projects such as this.
Resultantly, within the space of just three years, EquipSea
has moved from being a top-10 supplier for OneSubsea to
its number one partner in its category by the end of 2022.
With its turnkey tested sets ranging from three to

five tonnes that include seals, hydraulic and electrical
components, EquipSea continues to support clients
with their extensive testing and assembly requirements. Story type
Further, it is now getting ready to develop turnkeys in the #optimisation (main category)
range of 30-35 tonnes to be delivered from September #scale up
2023 on, while planned future investments will also be put
towards a production park, overhead cranes, the hiring of Benefits
skilled people in testing, and a large testing bunker with • Revenue doubled in the last three consecutive
capacity for 120 people. years.
• Major oil companies as clients.
Such investments are possible owing to the fact that
the company has rebounded in the past couple of years, Key findings
its efforts in building capacity and continuing with its For industry
improvement strategy during a difficult period having • Clearly determine your target market and clients,
proven more than worthwhile. completely understand their needs and stay always
close to them.
Indeed, EquipSea’s revenue has been doubled these last
three consecutive years, up from US$3m in 2020 to For government
US$12m in 2022, while its OTD and quality scores have • Create a healthy environment for business with tax
continuously been improving with its clients. reforms.
• In Brazil, fortify transport networks.
Despite being a young company that started life in tough
waters, it is clear that EquipSea has a bright future, EquipSea at a glance:
especially when calmer waters arrive. Key products and services: Manufacturer of welded,
machined, and coated parts as well as turnkey
About EquipSea tested sets including seals, hydraulic and electrical
components.
EquipSea is a Brazilian manufacturer of welded, machined,
and coated parts as well as turnkey tested sets including Main industries served:
seals, hydraulic and electrical components with expertise • Oil and gas – 95%
in the oil and gas sector but not limited to it. Parts and • Others (pulp and paper, sugar, ethanol) – 5%
sets in structural carbon steels, alloy steels, stainless
steels (austenitic, martensitic, duplex, and super duplex), Headquarters: Piracicaba, Brazil
high-nickel alloys, from a few grams to 40 tonnes parts. Year established: 2017
Inconel cladding and high-precision machining, bunker for Number of employees: 120
hydrostatic tests up to 30kpsi. Revenue: £10m

124 Success stories
EthosEnergy
Responding with resilience to the crisis in Ukraine
In the lead up to 2022, as covered in last year’s Survive
& Thrive, the company had undergone an internal
transformation to form a ‘OneEthos’ culture, consolidating
12 product lines into a cohesive business that is structured
around trading in the two hemispheres (east and west).
Ana Amicarella, Chief Executive
With a new CEO and leadership team in place, the firm
Graham Donald, VP Commercial, Eastern Hemisphere
was expecting a stable 2022 until the Ukraine crisis took
Jennifer Shanks, Marketing and Communications
centre stage.
In total, EthosEnergy has shed millions in revenue and

How is EthosEnergy thriving? opportunities as a result of the conflict, losing key contracts
in locations such as Sakhalin due to the inability to access
When the war in Ukraine broke out in the early part of Russia and Belarus, as well as expensive equipment that
2022, you could be forgiven for thinking that much of the has had to be left behind.
positive transformational work undertaken by EthosEnergy
in the years before was in danger of being lost. Its newly Meanwhile, the firm’s two Polish entities were heavily
formed Eastern Hemisphere division lost a large amount of reliant on Ukraine for revenues and supply of goods
revenue as a direct result of the conflict, with contractor such as copper and generators. The surging price of
workforces also impacted by Ukrainian workers heading copper has been a particular challenge, increasing
home. However, with a fresh strategy being devised, by 130% between March 2020 and March 2022. In
the company is seeking to recover some of the losses addition, many employees and contractors of companies
by tapping into other markets, all while being on hand to providing services to EthosEnergy’s Lubliniec facility are
provide support to Ukraine’s rebuilding and repair efforts. Ukrainian, the onset of the conflict prompting them to
return home.
The challenge
The solution
There aren’t many sectors which haven’t been impacted
by the war in Ukraine over the past year. For many Responding to these extraordinary circumstances
businesses, 2022 has been a battle to remain viable and continues to be challenging. EthosEnergy still does
control costs as the energy market responds to immense business in Ukraine and is currently devising a fresh
supply constraints and prices rise. strategy – for example, it is supporting the Ukrainian
people in repairing transformers destroyed during the
Those operating in and around Ukraine itself have faced ongoing conflict and sees itself playing an important
an even more unprecedented set of challenges. Take role in the country’s energy infrastructure rebuilding
EthosEnergy, provider of engineering solutions to clients process.
around the world, including in Ukraine and surrounding
nations such as Poland. Internally, the company restructured its Eastern

Success stories 125
Hemisphere division, combining two of its five regional

units (Central and Eastern Europe) into one to make
sure they are aligned and responding in tandem to
ever changing events. More broadly, the division has
refocused sales and operational efforts onto other key
markets as around the Middle East, North Africa, and
Kazakhstan.
In Kazakhstan, the firm has formed a strong joint venture

with a local partner through which it will continue to
acquire new business.
Story type
Although the strategy has centred around spreading #resilience (main category)
portfolio risk away from Ukraine, EthosEnergy is still #people & competency
securing contract wins here and has several potential
developments in the pipeline. In July 2022, for example, a Benefits
state-owned power station operator awarded it a project • Diversifying portfolio geographically.
involving two rotor rewinds. • Support to Ukrainian energy infrastructure.
Looking ahead, the priority is to remain agile and continue Key findings
responding effectively to changing circumstances. For industry
While new markets are being explored by the Eastern • Be adaptable, nimble, and relentless in your
Hemisphere division, the company is equally determined approach.
to maintain ties in the Ukraine region and support people
impacted by the crisis as much as possible. Through its For government
entities in Poland, EthosEnergy is eager to contribute to • Ensure support for the right energy mix to provide
the support the country is offering to refugees crossing grid security and stability of supply.
the border and seeking safety.
EthosEnergy at a glance:
The immediate future, without doubt, looks tough. Key products and services: Independent service
However, by remaining calm and spreading risk, the provider of engineering solutions.
company is doing its utmost to continue operating viably.
About EthosEnergy • Conventional power – 50%
EthosEnergy is a global leading independent service • Others (industrial) – 25%
provider of rotating equipment services and solutions to
the power, oil & gas, industrial, and aerospace markets. The Headquarters: Aberdeen, UK,
company has depth and experience in asset management Houston, US
and long-term maintenance agreements, whilst offering Year established: 2014
transactional, factory-based parts and repair services Number of employees: 4,000
across all industry sectors. Revenue from exports: 7.5%

126 Success stories
Faazmiar Technology Sdn Bhd

The digital transformation partner of choice in O&G Upstream Sector
Being a relatively new small- to medium-sized enterprise
(SME), Faazmiar has faced several challenges in its first
Abd Hamid Bin Ahmad, CEO decade of operation. Specifically, it has struggled to
sway prospective customers to place trust in the firm’s
ability to deliver key and critical solutions, with its target
audience often favouring partnerships with traditional and
How is Faazmiar thriving? multinational corporations (MNCs).
Working to overcome perceptions that smaller businesses The typical preference of customers in working with
are unable to deliver turnkey digital transformation MNCs over SMEs without any real consideration and
projects, Faazmiar’s bespoke approach has seen its ability evaluation of products or solutions remains a key issue.
to secure significant repeat businesses and develop an Indeed, Faazmiar has found that some clients try to push
established reputation in the market as a partner of for discounts, for example – something that is seldom
choice. Catering to the unique digital transformation seen in contracts with MNCs.
demands of clients across the oil and gas upstream
industry in Malaysia with cutting-edge technologies and The solution
technical services, the firm is already thriving after just
eight years in the market. Naturally, when Faazmiar has successfully delivered a
project, the stakeholders involved will see the first-hand
The challenge on the value it brings to the table and consult it for future
projects. However, this comes with its own challenges in
Founded in 2015, Faazmiar Technology was incorporated the follow-up process. In subsequent projects, other key
with the objective of providing solutions, technologies management that did not deal with Faazmiar directly will
and technical services to oil and gas upstream industry in still be reserved, retaining confidence issues and resistance
Malaysia. towards its ability to execute projects.
Based in Kuala Lumpur, the firm’s activities extend To address these issues, Faazmiar has focused on
across several categories, including real time and remote emphasising the benefits of its offering in terms of cost
monitoring operations, digital oilfield solutions, 3D reduction, productivity increases, and enhanced safety
visualisation of data, process workflow digitalisation, delivered to those clients leveraging its products and
software development, digital twins conceptual process, services.
AI/autonomous system development, and integrated
operations and advanced data analytics optimisation With the eight years under its belt, the company is now
using machine learning. more easily to ensure these benefits shine through. As

Success stories 127
a digital enterprise, it provides data optimisations using

matured machine learning, digital twin and artificial
intelligence technologies on a bespoke basis, designing
solutions that solve the specific and unique challenge of
its customers.
Faazmiar frequently engages with its clients to develop

these unique solutions, discussing roadmaps and aligning
it with its initiatives to ensure that all parties are pulling in
the same direction. These efforts are backed by its expert
team, comprising of very dedicated, experienced, and
skilled personnel.
To date, Faazmiar has achieved multiple success stories

that have led to significant repeat business. This has
included the recent development of a rig automation Story type
system in which the firm developed unique digital software #digital (main category)
to protect the key drilling control systems, enabling the #service & solutions
driller to operate seamlessly.
Benefits
By enabling more seamless operations and guaranteeing • Contracts wins.
uptime Faazmiar is able to deliver significant performance • Delivery of significant savings and cost avoidance to
improvement resulting in cost savings and cost avoidance clients.
in the millions of dollars that far exceeds what clients
expectation. Key findings
For industry
Moving forward, Faazmiar seeks to expand its horizons as • Entrepreneurs must be willing to take calculated
it looks to bolster its reputation, shift perceptions in the risks and come up with solid strategies in business.
market regarding SMEs versus MNCs, and secure a more • Convince the big ones of the industry to be more
diverse business portfolio. To this end, for 2023, it will involved in digitalization.
be focused on new spectrum in oil and gas seismic cross-
border interpretations energy /carbon reduction as it aims For government
to become the partner of choice for digital transformation • More coordination of project implementation
journeys. in terms of integrations, optimization between
functions.
Despite being founded in 2015, the firm has already made
significant progress, its disruptive attitudes and unwavering Faazmiar Technology at a glance:
commitment to quality having laid the foundations for Key products and services: Products in the
further success in the future. digitalisation, integration and optimisation of the oil
and gas sector and related professional manpower, as
About Faazmiar Technology well as trainings and consultancy.
Faazmiar Technology Sdn Bhd was incorporated with Main industries served:
the objective of providing solutions, technologies and • Oil and gas – 100%
technical services to oil and gas industry in Malaysia.
The company brings specialise knowledge and extensive Headquarters: Kuala Lumpur, Malaysia
experience in deploying oil and gas technologies mainly in Year established: 2015
the upstream sector. Number of employees: 28

128 Success stories
Fluenta
Overcoming the challenges of Covid-19 through consultative selling
Rather than accept this, the firm recognised it needed to
adapt to continue to pursue its growth plans. To revitalise
Shamsool Yahaya, Sales Director its overall prospects, Fluenta had to explore ways in which
Asia Pacific it could better meet the needs of its customers and deliver
further value in tandem with its existing solutions and
approach. Having laid the groundwork for this back in 2018,
How is Fluenta thriving? it was well set to kick on and reposition at speed during a
difficult period.
Bolstering its product-focused offering with consultative and
servicing support, Fluenta has been successful in navigating The solution
the difficulties posed by the pandemic period and tough
economic climate. By providing expert advise on products Fluenta’s motto is simple – accurate information drives
to its clients, the firm has developed a formidable reputation, better decisions.
driving both greater revenue opportunities and internal
innovation loops, these improved relationships serving to To ensure this mantra shines through in its offering, the
establish it as one of the leading flare gas monitoring solutions company began to focus more heavily on servicing and
providers in the Asia Pacific market. aftersales as it took a more consultative approach to selling.
Instead of simply selling a solution through transactional
The challenge relationships, Fluenta realised the value in working to
understand its customers’ specific needs before proposing
Founded in 1985, Fluenta has established a reputation as a solutions and offering advice that would solve their unique
in the measurement, monitoring and management of flare problems.
gas flow. Leveraging its unique ultrasonic technology as the
most accurate means by which to measure the flow of liquid A strategy that had begun to be explored from 2018
or gas, the company serves the oil and gas, petrochemical onwards, this was a natural transition. Indeed, the firm’s
and liquid natural gas industries with more than 2,000 industry knowledge and experience meant it was well placed
project installations spanning six continents. to identify the gaps in performance and how to address
problems using its products. The company quickly saw the
While this footprint is formidable, Fluenta’s leaning into the merits and gathered momentum, despite the complications
international market has presented it with several challenges brought about by Covid-19. Indeed, by the end of 2021,
in recent times. Like many companies operating in the energy travelling, meeting and engaging with clients became part
sector, it was hit hard by Covid-19, the pandemic period and parcel of operations as word of mouth spread and more
affecting its ability to expand or meet new customers. prospects and clients approached with enquiries.

Success stories 129
Fluenta began to excel, embracing the opportunities

presented to it. Information gathered from consultative
selling projects were channelled back to its research and
development team in UK, this serving to inform discussions
about how the company could develop new solutions to
meet the customer requirements, driving both innovation
and new and value-add sales opportunities.
Of course, it wasn’t always easy. Indeed, in many instances,

Fluenta’s primary challenge revolved around convincing
customers to change their mentality and give its new
approach centred around continuous improvement a
go – an area where it received significant resistance at
times. However, often the merits were quickly shown, and Story type
customers were won over. #innovation (main category)
#diversification
Despite tough market conditions, the firm has continued
to kick on. Revenue opportunities and subsequent serving Benefits
activities were unlocked as a result of its shift towards • New and enhanced revenue coming from
consultative selling, a move which has helped to balance the improvement to products.
books to cover any potential shortfall in sales during the • Fluenta now into servicing and providing expert
pandemic period. Such has been its success, the company advice on products to clients.
has been able to hire experienced, highly talented staff to
bolster its advice-based approach. Key findings
For industry
The feedback it has received has also been incredibly • Calculate risk-taking and think of strategies to leave
positive. Customers have expressed that they now feel your comfort zone.
supported, speaking highly of Fluenta and recommending • Keep up with new innovations, no compromise on
it at every opportunity, boosting the overall strength of the safety.
brand and its reputation and visibility in the market.
For government
Indeed, having built what are highly effective and close- • Encourage more local talent and technology in the
knit relationships with its customers, the firm has a secure latest environment requirements.
base of business that will serve as a springboard for further
growth moving forward. Fluenta at a glance:
Key products and services: Flare gas metering and
About Fluenta consultative selling.
Fluenta was founded in 1985 and is a global leader in Main industries served:
the measurement of flare gas across the oil and gas, • Oil and gas – 100%
petrochemical and liquid natural gas (LNG) industries. With
over 2,000 installs across 6 continents, Fluenta has the Headquarters: Haugesund, Norway
experience to help customers more accurately measure Year established: 2018
flow to make better business decisions and meet the most Number of employees: 12
stringent regulations. Revenue: £2m

130 Success stories
Fluor
A business inspired towards achieving net-zero ambitions
looking inwardly and outwardly, a new strategy emerged
in terms of how to position the business as well as achieve
Helen Kilbride, Process Director Fluor’s own net-zero targets.
In broad terms, the strategic shift entails detailed

engineering work in emerging technologies and engaging
How is Fluor thriving? with clients earlier in their project cycles. This has involved
examining and developing Fluor’s own technology and IP,
The world’s appetite for energy is changing and Fluor is refocusing its people, and collaborating with start-ups,
meeting those needs with the adoption of a new approach existing and new clients.
inspired by the global mission to transition to net zero.
Leveraging its formidable in-house expertise built up over Fortunately, the appetite and culture for aligning with net-
the course of more than a century, the company is not only zero agendas was already strong. Internal expertise is being
on its own journey to carbon neutrality but is also positioning championed externally, with public sessions, knowledge
itself as a developer of technological solutions to support building workshops and Q&As all becoming staple events
energy transition strategies across several sectors. Today, it in the Fluor calendar. The firm has established a dedicated
has several projects and people immersed in sustainability Office of Technology which is pushing internal technology
as it seeks to build its knowledge base further. development strategies and exploring ways of taking its
solutions to new markets. For example, Fluor is home to over
The challenge 1200 patents, and over 15 licensed technologies. Fluor owns
one of the top three proven carbon capture technologies and
In business since 1912, Fluor has carved a reputation for is helping not just traditional but other industry sectors such
itself as a reliable provider of comprehensive engineering, as cement and steel production to decarbonise.
procurement, construction and maintenance services for
clients, delivering capital efficiency and project certainty For Hydrogen, the company is already applying its
through its highly skilled workforce that today stands carbon capture expertise to make the production of blue
at 40,000-strong. Throughout this time, it has ridden hydrogen more affordable with a solution that cuts the
many challenges as market fortunes have fluctuated and space and energy required to produce it.
today’s energy consumers are not only seeking clean and
sustainable energy, they are demanding it. A rethink was On the post-combustion side, in May 2020, Fluor was
therefore needed – how could Fluor utilise its technical awarded the front-end engineering and design (FEED)
expertise to support clients on their decarbonization for California Resources Corporation (CRC’s) 550 MW
journeys and advance its own sustainability goal. natural gas combined cycle power plant, a carbon capture,
utilisation and storage retrofit project at the Elk Hills
The solution Station in Bakersfield, California.
At the beginning of 2021, after a series of meetings Collaboration with and learning from external partners,

Success stories 131
especially startups, is also proving valuable. Fluor is

supporting prominent venture capital partners with
programs that invest in companies utilising emerging
technologies that reduce emissions. Strong partnerships
have been built from this participation, which has also led
to the company expanding its portfolio.
It has also been actively involved in the Carbon to Value (C2V)

Initiative, assuming the role of Cohort Champion for Year 2 of Story type
the programme. A three-year initiative, the collaboration seeks #collaboration (main category)
to accelerate the CarbonTech industry by linking established #culture, #innovation, #transformation
and resource-rich entities such as Fluor with innovative
startups to help bring solutions to market faster. 2022 saw Benefits
the selection of eight CarbonTech companies across the globe • Fluor was recognised for its carbon capture,
under Fluor’s stewardship, including Aluminium Technologies. utilisation and storage retrofit project.
They challenge traditional Aluminium manufacturing with • Progress in net-zero push.
their Carbo-Chloride Reduction (CCR) technology, which not
only captures CO2 emissions, but also requires less power. Key findings
Aluminium Technologies was facing challenges in scaling- For industry
up, so through the C2V program mentoring, they identified • Do what’s right and positive. Social responsibility
key risk areas and developed mitigation plans. In 2023, they “from the heart”.
are working with Fluor to design their first pilot plant. Fluor • Be patient, learn and consolidate skills, develop
has built over 25 working relationships with stakeholders engineering expertise. You cannot shortcut this to
through this programme. Outside these programmes, Fluor progress your career.
also provides support to several university research projects
in need of funding and expert advice. Indeed, such is the For government
momentum being built by the new technology drive, the • More integrity is needed. Be stronger in context of
major challenge facing the company now centres around what we need.
recruitment and being able to fulfil the work that comes its
way. Although in revenue terms Fluor is still in the early stages Fluor at a glance:
of monetising this line of business, its involvement in several Key products and services: Engineering, procurement,
projects and programmes is certainly cause for optimism. construction, operations and maintenance, project
management, fabrication, program management,
Meanwhile, Fluor’s own aggressive net-zero target, i.e., net- design, supply chain management, logistics, power,
zero for Scopes 1 and 2 by 2023, shows leadership towards energy, architecture and more.
sustainable solutions as compared to its competition.
About Fluor • Oil and gas, Energy Transition - 50%
• Others (infrastructure, advanced technologies,
Fluor provides innovative and sustainable solutions across mining, US government, intelligence agencies and
a diverse range of markets while conducting business in more) – 50%
a socially, economically, and environmentally responsible
manner to the benefit of current and future generations. Headquarters: Irving, US
The company also delivers comprehensive engineering, Year established: 1912
procurement, construction, and maintenance services for Number of employees: 40,000
clients, delivering capital efficiency and project certainty. Revenue: £11.4bn

132 Success stories
Fulkrum
Scaling up in anticipation of a turbocharged 2023/2024
The solution
Owen Gibbons, Commercial Director Over the last two years, Fulkrum has been implementing
significant changes to support the growth of the business.
A new leadership strategy was formed in 2020 which
allowed Fulkrum to move away from a purely centralised
How is Fulkrum thriving? decision-making model, with regional and departmental
managers given the training and autonomy to drive
After another successful year of growth in 2022, quality business development opportunities in new markets.
control and technical services provider Fulkrum will
be accelerating its global expansion strategy over the One of the most significant moves was the promotion of
next couple of years. Having worked hard behind the Brock Falkenhagen to the role of Global Vice President
scenes focusing on recruitment, restructuring and skills in May 2022. Having seen significant success operating
development, the company is seeking to scale up and Fulkrum’s Americas region after joining the firm in 2017,
open new streams of business as it continues to expand the decision was made to move him into a global position
its offering to support cross-industry projects. to spearhead international operations.
The challenge Recruitment activity has increased across the organisation,

with Fulkrum bringing in new disciplines of people with
Since establishing in the UK in 2011, Fulkrum has provided the necessary expertise and experience as they put down
expert vendor surveillance and technical staffing services roots in Guyana, Mumbai, Italy and Qatar, among other
to companies operating in the energy industry around territories, to prepare for growth over the next couple of
the world. With a network of in-house experts and an years. Indeed, across 2022, the company expanded its
active database of over a million engineering and technical direct hire team by 16%.
personnel, Fulkrum has steadily grown and expanded
its infrastructure over time, enabling it to offer turnkey Now led by an expanded HR team to drive hiring forwards,
inspection, expediting, auditing and technical staffing recruitment has been proactive in anticipation of winning
solutions to clients in a responsive and agile manner – no clients, giving it the capacity to deliver immediately
matter where they are or what stage of the project they and efficiently. Alongside this, Fulkrum has continued
are working on. significant investment in its proprietary software to help
it better track project data and coordinate its operational
As the firm headed towards the end of the last decade, the processes. Named IRIS, the system has improved process
need to diversify into other energy subsectors became efficiency and allowed key business performance metrics
essential in order to properly scale and safeguard itself to be measured with opportunities for improvement
in the longer term. This would require a new approach to realised. Fulkrum’s team members have had their KPIs and
people and culture within the business, as it continues to performance tracking metrics refined to identify individual
deliver consistent and class leading service. opportunities for improvement and skill development. This

Success stories 133
data is used not only to ensure compliance and consistency

across all offices, but also to identify progression potential
and promotion opportunities within the company’s team.
Supporting the training and development of the team has

been another important priority for Fulkrum. Streamlining
company processes has involved 30-, 60- and 90-day check-
ins during probation periods, while also making use of the
in-house software platform to keep training and HR records
up to date. These efforts produced quantifiable results, such
as successful proposals to customers increasing by 49% and
customer aged debt decreasing by 28%.
Change of this scale and speed is rarely easy to manage,

and from a cultural perspective, the firm has also had to
make adjustments to ensure its colleagues are onboarded
and pulling in the same direction. Another component of
Brock’s remit has been improved internal communication
and alignment. New flexible working arrangements have
been received well across the company and have helped
to keep engagement and retention rates high – this is vital
given how competitive the talent market is. Similarly,
budgets are allocated for regular social activities away
from the office to encourage team bonding which further
drives team performance.
Amid the ongoing behind the scenes activity, Fulkrum

has also laid solid financial foundations from which it can
grow through 2023 and 2024. Last year the business Story type
grew by 13% after a successful 2021. In 2023, Fulkrum #people & competency (main category)
expects to see a revenue growth of around 30% in as
a result of recent contract awards, organic growth with Benefits
existing clients, expansion into new territories, and further • Successful proposals to customers increasing 49%
diversification into renewables. and aged debt decreasing by 28%.
• Revenue calculated to grow 30% in 2023.
Now, with the new structure in place and a growing
team giving it a wider presence both technically and Key findings
geographically, Fulkrum is poised to enter the next phase For industry
of its development journey that will see it continue its • Continuously training your staff is key for
transition into a diverse and robust global player. improvement.
About Fulkrum Fulkrum at a glance:

Key products and services: leading provider of expert
Fulkrum is a leading inspection, expediting, auditing and quality control and quality assurance services to the
technical staffing service provider. As a trusted partner, global energy industry.
Fulkrum enhances the quality and safety of clients’ projects,
safeguarding their operations and budgets whilst improving Main industries served:
environmental performance. Its innovative solutions-based • Oil and gas – 90%
approach, technical capabilities, and highly skilled and • Renewables – 9%
motivated team ensure operational excellence across multiple • Nuclear power – 1%
sectors in more than 30 countries. Fulkrum works closely with
clients and partners through the entire project lifecycle from Headquarters: London, UK
feasibility, FEED and procurement to fabrication, construction, Year established: 2011
commissioning and beyond, ensuring compliance throughout, Number of employees: 70 (direct hire), 500 (freelance)
with an unparalleled level of engagement and commitment to Revenue: £28m
the successful delivery of every project. Revenue from exports: 90%

134 Success stories
Gexcon
Helping companies to excel in safety and environmental performance throughout
the energy transition
three major streams: its software arm sells and leases tools
to model the likelihood and consequences of hazardous
events occurring, including fires, explosions and chemical
spills; it offers consultancy across critical activities such as
Chris Coffey, Vice President Product risk assessments; and delivers testing services at various
David Smart, Sales Manager – UK & Nordics scales.
Over the years, Gexcon had settled into its niche of serving
How is Gexcon thriving? predominantly upstream oil and gas players. However,
recent shifts away from hydrocarbons and towards net
Gexcon is eager to contribute to the world’s effort to zero projects have challenged the status quo – to remain
transition rapidly to a sustainable energy and materials relevant, the company needed to diversify its tools and
system. In doing so it works closely with governments, services to serve emerging energy transition industries.
academic institutions, equipment manufacturers and
asset owners to help them understand and mitigate the The solution
operational, safety and environmental risks associated.
Gexcon’s strong foundation of supporting research Studying the early work being carried out in the energy
projects in renewable energy, such as hydrogen, batteries, transition space, the company immediately realised it
biomass, and biofuel, has become increasing relevant in could fill a gap in the market.
recent years. This knowledge has been codified into a set of
tools for accurately modelling the risks and consequences Indeed, it identified a need to adhere to similarly robust
associated with these key energy transition vectors. safety standards as the traditional energy sectors it had
These tools are fundamental in ensuring clients, and its been operating in, the seeming lack of formalised protocols
own employees, deliver on their safety and environmental inspiring Gexcon to step in and provide its expertise.
objectives whilst maximising operational and business
performance. Positioning itself appropriately has required a significant
knowledge transfer exercise and an ability to adapt and
The challenge innovate. Beginning in 2018, that process is still ongoing,
with Gexcon continuing to leverage its extensive oil and
Since emerging out of a research project in Norway in the gas safety knowhow and transfer it to the field of energy
1970s and 1980s, Gexcon has grown into a global leader in transition, the aim being to emerge as a repository of
the provision of risk and safety management solutions to sector-centric science and expertise.
highly hazardous industries, including the energy sector.
Key to this so far has been involvement with several joint
Armed with formidable expertise and technology honed industry projects. Securing access and participation has
over five decades, the company derives its income from involved leaning on the company’s brand recognition

Success stories 135
as knowledge leaders in the oil and gas safety space, as

well as ensuring it had adequate resource availability, test
facilities at appropriate scale, and the right talent available
to add value.
One of these joint industry projects has been with SH2IFT,

a lead technical expert from which Gexcon has been able
to learn from. In return for exposure to the leading edge of
science and the opportunity to expand its knowledge that
will feed into future safety solutions, Gexcon has offered
up some of its own project management and technical Story type
expertise. #energy transition (main category)
#collaboration, #diversification, #innovation
Meanwhile, in a similar vein, the company has also been
working alongside the Jack Rabbit Project, which focuses Benefits
on planning, protection and response to large scale • Involvement with several joint industry projects.
releases of ammonia. This has clear implications for the • Increase in revenues.
energy transition sector, especially in the development of
hydrogen projects. Key findings
For industry
Such efforts that are ongoing behind the scenes is • Build strong networks and relationships.
beginning to translate into business success. Gexcon is • Commit to collaboration and innovation.
seeing the proportion of revenue derived from work in
the energy transition space increase as it takes on more For government
projects and clients. Meanwhile, brand recognition is also • Make decisions and get on with it. Indecision is
growing among players in the industry. causing investment decline. Work towards a stable
and regulatory framework.
With five years of projects and development already under
its belt, the company looks well on its way to fulfilling its Gexcon at a glance:
objective to become the go-to knowledge hub for energy Key products and services: Risk and safety
transition safety. management and solutions to high hazard industries.
About Gexcon Main industries served:

Gexcon is a global knowledge and technology leader in • Renewables – 40%
dispersion, fire and explosion safety, and risk management. • Others (non-energy) – 20%
The company assist its clients in identifying their hazards,
understanding their risks, and improving their safety Headquarters: Bergen, Norway
performance. Their experience arises from detailed Year established: 1987
knowledge of explosion phenomena built through years Number of employees: 2000
of performing extensive research, safety assessment, Revenue: £25m
accident investigations and fire and explosion testing. Revenue from exports: 10%

136 Success stories
Global Maritime
Unifying disparate business units to become ‘One GM’
The solution
Ekkehard Stade, COO Marine The first port of call for Global Maritime’s leadership was to
examine all the various entities within the business, weigh
up which ones were delivering value, and decide how the
pieces would fall into place under a single umbrella.
How is Global Maritime thriving?
Given the scale of the One GM challenge, the company
Global Maritime has almost completed a root and branch decided to approach the task with two dedicated teams
transformation of its organisational structure, the – one in charge of rolling out a unified ERP system
company adopting a One GM policy to bring together its and the other responsible for standardising processes,
disparate entities into a unified company that is collectively documentation, policies and business management
pulling in one direction. Operating with five synchronised systems. Senior management would also steer much of
business streams, it is starting to reap the rewards of the change needed with the help of subject matter experts
closer collaboration and the sharing of expertise to avoid from within the organisation who were eager to help drive
wasteful outsourcing of work. the strategy forwards.
The challenge Alongside this, a detailed financial review was conducted

across 2018 and 2019 under a new CEO and CFO, both
In business for more than four decades, Global Maritime bringing with them strong finance backgrounds.
(GM) has built itself into a foremost consultancy,
supporting clients around the world in their efforts to The first of the five new business streams were
de-risk, innovate and push forward energy transition implemented in 2020, with Aberdeen-based Operations
strategies in the offshore energy and marine sectors. Manager Johnny Logan promoted to CEO to help steer
the change process from the top of the enterprise.
Headquartered in Norway, the company is in the midst Meanwhile, underperforming parts of the GM network
of a critical chapter of its development. Over the course were starting to be closed down and merged into new
of its history under different ownership and management streams, while townhalls were held to introduce the new
models, Global Maritime morphed into large but structure and achieve buy-in from colleagues.
fragmented organisation with little consistency between
disparate operational units. As well as moving Logan to CEO, several other important
senior leadership appointments were made, including
Around five years ago, the need to create a more unified the hiring of dedicated directors to run each business
company was recognised. If it was to scale up and exploit stream. Each stream also identified which product lines to
its global base of expertise effectively, it had to operate as prioritise based on their expertise and capabilities.
‘One GM’ – this would mean breaking down the silos of local
entities and structures and focusing on business streams. In the space of two years, all five business streams

Success stories 137
have become fully operational and Global Maritime

is now around 95% of the way through the change
programme.
Although still relatively early days, the company is

starting to see the fruits of the immense efforts it Story type
has put in behind the scenes. One of the greatest #transformation (main category)
advantages being realised is the newfound visibility the #culture, #optimisation, #resilience
firm now has over every aspect of the work it carries out
– thanks to a joined-up ERP and cohesive structure, GM Benefits
now has 100% visibility down to a granular project level, • Revenues to grow €5m in 2023.
allowing it to respond faster to clients and fix issues • Project pipeline doubled in 2018: €40m by
more efficiently. February 2023.
This is being reflected by promising trends in numbers. Key findings

Revenue and work delivered internally (where otherwise it For industry
would have been outsourced) has grown by 50% thanks to • Look at scalability from the start. You can’t get big if
improved access to subject matter experts housed within your systems and structure are not suited for it.
the One GM business. This is contributing towards solid • Try to build culture of trust, critical for workforce to
performance, the company expecting to grow revenues perform at their best.
by €5m to €58m in 2023 and sitting on a project pipeline
worth €40m at the end of February – double what it had For government
back in 2020. • Drop administration issues between individual
states, e.g., if the US federal government had
Global Maritime can now look ahead to scaling sustainably control of energy in individual states, renewables
once again. With a unified business that is now delivering would have grown much faster.
better value for clients, the future looks a lot clearer (and
brighter) than it did just five years ago. Global Maritime at a glance:
Key products and services: Marine, offshore and
About Global Maritime engineering consultancy.
Global Maritime is a marine, offshore and engineering Main industries served:

consultancy, working to de-risk, innovate and drive • Oil and gas – 45%
the energy transition in the offshore energy and • Renewables – 35%
marine industries. The company specialises in marine • Energy Transition – 10%
warranty, marine assurance, marine operations, dynamic • Others (infrastructure) – 10%
positioning, engineering and geoscience services and is
renowned for its independence, structural innovation, Headquarters: Stavanger, Norway
experience, integrity, operational excellence, and safety. Year established: 1979
Headquartered in Norway, Global Maritime can support Number of employees: 290
its growing global client base through strong teams in 22 Revenue: £46.7m
offices across 17 countries. Revenue from exports: 80%

138 Success stories
HARTING Technology Group

Capitalising on the modularisation and pluggable connectivity opportunity
concerns slowly diminishing where pluggable connectivity
solutions from market leaders have been proven reliable.
Guanghai Jin, Team Leader Industry
Segment Manager For HARTING, this has opened up a promising new
frontier. However, while the company had some success
in certain energy segments like wind and storage systems,
How is HARTING Technology Group thriving? it needed to consider how it could serve the entire market
in a more systematic way.
HARTING Technology Group has capitalised on the demand
for intelligent technology solutions to drive modularisation The solution
and standardisation. Critically, the company’s renowned
pluggable connectors have been specified by an international As HARTING was presented with more and more
wind turbine manufacturer for use across turbines, nacelles, customer requests for modularisation and connectivity
foundations, vessels and more at an infamous offshore wind solutions spanning wind, solar, storage and hydrogen, the
farm to drive major cost savings. firm began to consider how it could best capitalise on the
opportunities available from 2020 onwards.
The challenge
Driven by the cooperation of its industry-segment, product
Prior to 2015, pluggable connectivity was not commonly management and sales leaders, the company restructured
accepted or applied in the energy industry. Oil, gas and the way in which it served different market segments to
coal dominated the energy mix which meant very few cover promising technologies like hydrogen, storage, solar,
electrical connectors were needed, while some harboured and energy management and control. This included the
quality concerns in the belief that pluggable connectivity development and introduction of go-to market strategies,
could be a possible failure cause. with particular emphasis on targeting select key regions
such as China, the US, Germany, the UK, France, Spain,
However, that all changed when 2050 net-zero emission India and Denmark.
targets were affirmed with the Paris Agreement,
demanding that fossil fuel-driven energy infrastructure The renewed strategy resulted in the securing of several
established over centuries must be replaced by renewable major projects, including a 2022–25 contract for the wind
alternatives in just 35 years. turbine manufacturer and the landmark offshore windfarm.
Here, modularisation and pluggable connectivity solutions Here, HARTING’s pluggable connectors and connectorized
have been identified as a solution to quickly deploy cable sets will be used as the interfaces between the wind
decentralised clean electricity technologies such as wind, turbines’ modules in what will be a several million euros
solar and battery storage. Crucially, these technologies project.
are extremely attractive in instances where quick and
safe outdoor field connections are required, with quality This is a highly significant contract. Not only does it

Success stories 139
demonstrate positive market sentiment towards the

firm’s durable and reliable pluggable connectors that have
developed a proven track record in the offshore wind over
the course of several decades, but it also offers a unique
case study to showcase its product’s benefits. Story type
#service & solutions (main category)
The company will deliver a consultancy and solutions #diversification
offering on modularisation and interfaces, offering global
coordination of the customers’ sub-system supplier Benefits
networks and reducing transport, installation and • Company’s energy market revenues and open
maintenance costs during the lifetime of the turbines, opportunities in a continuous growth.
offering significant cost savings via several different • Three-year contract secured with an international
avenues. wind turbine manufacturer for offshore wind farm
projects.
Indeed, this project is just one of many the firm has
recently secured work on. Through its strategic changes, Key findings
the company has seen a continuous increase in revenues For industry
and a growth in its pipelines in both the quantity and value • Standardizing can save a lot of work and money
of projects. for everyone – but it starts with deciding to
modularise.
Having successfully adapted to better capitalise on what • Stop increasing the turbine sizes – agree on
has become a booming market in recent times, HARTING standardisation (or platform-isation) as an industry,
now looks well placed to thrive for many years to come. to start making money again. Make components
interchangeable, reducing cost for the whole
While the firm is now intent on exploring possible industry.
business model innovations for the mid-or long-term
to diversify and futureproof, its improved position in For government
relation to modularisation and connectivity projects • Put net zero as highest strategic priority. Time
across all energy segments and key regions stands it in window is running out.
good stead as strong foundations from which to build on
moving forward. HARTING Technology Group at a glance:
Key products and services: Global leader in plugging
For the remainder of 2023, focus is shifting to improved connectivity, providing durable and reliable product
customer profiling, consolidating its existing portfolio, and solutions.
improving the organisation’s value proposition – initiatives
that will only further enhance its prospects. Main industries served:
• Energy
About HARTING Technology Group • Industry
• Railway
The HARTING Technology Group is skilled in the fields of • Mobility
electrical, electronic and optical connection, transmission • Smart Infrastructure
and networking, as well as in manufacturing, mechatronics • Others
and software creation. The Group uses these skills to
develop customised solutions and products such as Headquarters: Espelkamp, Germany
connectors for energy and data transmission applications Year established: 1945
including, for example, mechanical engineering, rail Number of employees: 6,500
technology, wind energy plants, factory automation and Revenue: £918m
the telecommunications sector. Revenue from exports: 80%

140 Success stories
Hempel A/S
Resilience and ingenuity: Hempel A/S pioneers epoxy intumescent solutions for a
competitive edge
centres that are operated by a workforce of 6,500
employees who oversee more than €2bn worth of
Rameer Tharola, Segment business each year.
Development Manager – Global H-PFP
Despite the company’s huge legacy and standing with
clients in multiple industries, one relatively underexplored
How is Hempel Paints thriving? segment is hydrocarbon passive fire protection. A key
challenge, therefore, lay in developing fire protection
Recognising a gap in its portfolio of protective coatings a coatings that could fill this prime gap in its extensive
decade ago, Hempel Paints has invested a huge amount of portfolio.
energy in developing a product for clients in the hydrocarbon
passive fire protection segment. Now, after many years of The solution
testing and refinement, the company is already making
inroads with customers who have responded well to the Hempel has invested significant time and resources into
new solution. With new contract wins secured and a R&D in the hydrocarbon segment. It has a dedicated
growing pipeline of awards emerging, the decision to target department based in one of its centres in Spain which
this sector appears to be an extremely wise one, not least is charged with developing a product to cater to energy
because the company can now position itself as a one-stop industry standards and offer something superior to what
coatings shop for many of its customers. is currently available on the market.
The challenge In July 2022, the company launched Hempafire XTR 100.
A lightweight product with easy application compared
Any business that has been operating for a century has to its competitors, it has been successfully trialled
the right to say it has stood the test of time. Since 1915, against industry test standards and in highly corrosive
Denmark’s Hempel Paints has been developing, producing, environments. It is already proving popular with several
and distributing paints, coatings and coating systems large industry operators, including NOCs/IOC’s and
predominantly for the protective, marine, container, yacht EPC’s working in the downstream segment – key to its
and decorative industries. popularity, among other things, has been the ability to find
the optimal balance between low weight and the quality
Its ethos is simple – to provide high-quality, sustainable of protection offered.
coatings solutions that protect and enhance surfaces
and structures around the world. And it is a truly global Getting to this point has been a decade in the making,
enterprise, its footprint comprising 30 factories, 130 with the testing cycle alone lasting several years to ensure
distribution points and 14 research and development it can perform against numerous tests and standards.

Success stories 141
During this time, the company’s business development

team has been working in the background with operators
and asset owners to get the product specified prior to
launch.
Winning over prospective users of the product has not

been difficult. Hempel is over 100 years old and represents
a trusted brand with a solid client base who already had
a demand for this new service. Now, with its portfolio
as complete as it has ever been, the company can serve
as a one-stop coatings shop for many of its customers.
In addition to the Hempafire XTR 100, Hempel offers
additional services which include on/off field technical
support, applicator training program, fire engineering, Story type
application assistance and specification writing. The #optimisation (main category)
company also offers customised solutions and on-site #innovation
support for customers around coatings selection, project
management and inspection services. Benefits
• Significant contract wins.
Being a member of the EIC has also proven valuable • More than 160 clients and new clients identified.
in terms of branching out into the hydrocarbon fire
protection segment, not least because it has enabled Key findings
Hempel to network with other industry players, gain For industry
access to market intelligence, and stay up to date on the • Understand requirements in your market and bring
latest trends and regulations in the energy sector. in a sustainable product to fill this gap, you will do
well.
Although it is still relatively early days, the firm has • Accept new ways of working and technologies to
already made some key strides in the form of significant deal with in a changing market.
contract wins, its project pipeline and awareness
increasing in line with growing awareness of the new Hempel A/S at a glance:
product offering. Over time, the ambition is to grow Key products and services: Protective, marine,
its client base, the company identifying more than 160 decorative and yacht coatings, technical support,
clients and new clients that could benefit from its latest training and application assistance.
product development.
About Hempel Paints • Oil and gas – 45%
• Others (marine) – 55%
Hempel A/S is a global coatings manufacturer that
develops, produces, and sells coatings and related Headquarters: Copenhagen, Denmark
products for the protective, marine, container, yacht, and Year established: 1915
decorative industries. Hempel’s main activity is developing, Number of employees: 6,500
producing and distribution of coatings. Revenue: £1.85bn

142 Success stories
Hugh Fraser International (HFI)

Successfully pivoting to become a more prosperous enterprise
HFI has been a proven strategic partner to its customers

since 2003, supporting them in establishing, expanding
Hugh Fraser, Managing Partner and divesting their international businesses through
strategic, value-added consulting and legal services in the
MENA region.
How is HFI thriving? In addition to the impact on its clients of the triple
crises referred to above, HFI has also faced the growing
Having experienced and learned key lessons from the stigmatisation of the petroleum sector politically, the
global financial crisis in 2008, the oil price slump crisis withdrawal of traditional banks from SME working capital
in 2014 and the Covid pandemic crisis in 2020, HFI has support and the increasing international anti-money
emerged into a new 5-year business plan for the mid- laundering and corporate governance strictures being
2020s as a strong and stable entity thanks to an all- imposed on SMEs doing international business. However,
encompassing transformation strategy. HFI saw these challenges as opportunities.
This strategy has the key pillars of rigid focus on client The solution
service, solutions and results, investment in professional
know-how and expertise training and development, Turning challenges into opportunities meant changes
and embracing of advanced technology and systems in across three vectors: increased productivity and efficiency
relation to its core and traditional petroleum technology in the core petroleum technology business for its existing
business and a diversification programme allowing both client base, expansion into energy transition technology
geographical expansion and additional focus on net zero ventures work bringing access to new clients and two new
energy technologies. joint ventures for India and the Egypt, North Africa and
Mediterranean region, allowing geographical expansion
The challenge with both existing and new clients.

Success stories 143
Key elements along the first vector included sharper

focus on the Aramco, ADNOC and QatarEnergies high- Story type
capex markets in the region, pivoting from fixed costs to #service & solutions (main category)
variable costs, the adoption of new software technologies #diversification
and systems, and the introduction of a new professional
development training system for its multi-national team Benefits
and network. A key example is HFI’s project roadmap • Revenue figures on track to double in 2023.
systems which provide detailed guidance on procedures, • Strong client base retention and growth.
documentation, timelines, and anticipated costs associated
with client ventures in the target regions. In a market Key findings
dominated by global legal and consulting firms, the firm For industry
has emerged as a market leading boutique practice and • Change is opportunity.
has acted for a range of listed companies, private equity
backed businesses and owner managed businesses in a For government
series of successful assignments over the period since the • De-stigmatise the petroleum sector and recognise a
start of post-Covid recovery. balanced and integrated energy transition over the
next 50 years.
The business is set to double turnover in 2023 to US$1.5m
and plans to achieve turnover of US$10m by the end of HFI Consulting International at a glance:
2027. Key products and services: Specialist legal and
consulting for advanced energy technology ventures.
About HFI
HFI is a specialist professional services firm led by Hugh • Oil and gas – 75%
Fraser, a Scottish corporate/energy lawyer and member • Energy Transition – 25%
of the Scottish Development International GlobalScot
international trade ambassador network. HFI supports Headquarters: Dubai, UAE
clients to establish, expand and divest their businesses Year established: 2017
through strategic, value-added consulting and legal Number of employees: 16
services, combining specialist know-how, connections, Revenue: £1.2m
local partners, and execution expertise. Revenue from exports: 100%

144 Success stories
Howden (a Chart Industries Company)

Supporting Shell in its drive to net zero by 2050
In 2023, Chart Industries (NYSE: GTLS) bought Howden,
which created the strategic combination of both businesses.
Fred Hearle, President of Europe and Both companies are focused on enabling the global energy
North Africa Region transition and industrial decarbonisation. Chart’s strategy
“Nexus of Clean™” focuses on the drive for clean power,
clean water, clean food, and clean industrials, which is clearly
How is Howden thriving? aligned to Howden’s purpose of “enabling vital processes
which advance a more sustainable world.” This combination
Howden, a Chart Industries Company, and world leader brings together two industry leaders and allows Chart to
in air and gas handling equipment, has been involved with further penetrate existing markets while providing access
Shell for more than a century. As the oil major continues to new specialty markets, thus establishing Chart as the
its push to become carbon neutral by 2050, a new project undisputed leader in the clean energy transition.
to use renewable feedstock in refineries instead of crude
is underway. The process involves hydro treatment using Clean fuels are a key growth area and the company’s
Howden equipment for high-pressure hydrogen and acid credentials are now being used by Shell in a landmark
gas compression. project that is about to ramp up.
As well as supporting one of Howden’s most important, The solution

longstanding clients, the project at Shell Energy and
Chemicals Park Rotterdam (Pernis) forms part of Howden’s Howden secured the contract to work on the Shell Energy
own strategic transformation to re-align with the global and Chemicals Park in Rotterdam in 2021. It is a highly
decarbonising trends. strategic project for Shell, as they are seeking to become
a net zero emissions entity by 2050.
The challenge
Furthermore, European directives are set to increase the
Historically, Howden was heavily focussed on serving part of renewable energy in transportation fuels such
conventional product applications within the oil and gas as sustainable aviation fuels (SAF) and renewable diesel.
and broader energy market. The company’s offerings are Here, Shell is seeking to transform its refineries so they
also ideal to support global efforts to net zero and the can handle renewable feedstock to produce such fuels,
energy transition, the company focussed on three key including vegetable oils like soybean, rapeseed and palm,
themes – diversification, regionalisation and aftermarket/ as well as non-edible oils such as those used in cooking oil.
digital services.
Howden is playing a central role in developing the equipment
In line with this, the company also seeks to reduce needed to hydrotreat the feedstock. Collaboration from
greenhouse gas intensity by 50% before 2030 (compared the early stage of the project has been essential, as the
to 2020 baseline) and achieve carbon neutrality by 2050. parties involved finalised the definition of the equipment
design and how it will integrate into the site.

Success stories 145
The contract, worth approximately US$20m, was awarded to

Howden owing to its strong execution track record, robust
supply chain, depth and spread of expertise, and proven
technology – a combination which, for Shell, helps to reduce
the overall risk, cost and time involved with the project.
From a design perspective, the trend across industry is to

move away from traditional “stick-built” plants and Shell’s
project makes use of a modularised approach. Key benefits
that modularisation provides for oil and gas projects include
minimised field time for site integration, dedicated off-site
work force, and improved delivery schedules. However, the
nature of limited space within tiered modular structures
posed additional engineering challenges for the critical
packaged equipment such as the main compressors.
As well as delivering reciprocating compressors to site,

the Howden turbo compressor was critical for the Sulphur Story type
Recovery Unit (SRU) module in the Shell Hydrotreated #technology (main category)
Vegetable Oil (HVO) fuel project. Although its position is #energy transition, #innovation
at the end of the process flow, uninterrupted operation of
this compressor is environmentally vital to continued plant Benefits
production. Despite the reduced space for design work, • Landmark project underway.
years of continuous service must still be assured, and ease • Company closer to 2050 net zero goals.
of safe maintainability within the constrained environment
remains paramount. Key findings
For industry
As engineering specialists, the Howden team naturally • Be bold, be prepared to take calculated risks.
relishes this type of challenge. And, thanks to decades • Capitalise on new ways of working, get human
of complex compressor packaging experience, Howden capital and collective intellect to collaborate more
was able to provide rapid rounds of technical solution effectively.
development and feedback to assure the client’s needs
would be met. For government
• Enable investment and regulatory support
About Chart Industries Inc to facilitate a faster deployment of nuclear
SMR within the UK energy mix. It can make a
Chart Industries, Inc. is an independent global leader in significant contribution to energy transition and
the design, engineering, and manufacturing of process decarbonisation for the UK.
technologies and equipment for gas and liquid molecule • Also ensure UK companies remain at the forefront
handing for the Nexus of Clean™ – clean power, clean of next generation energy solutions for export
water, clean food, and clean industrials, regardless of markets.
molecule. The company’s unique product and solution
portfolio across stationary and rotating equipment is used Chart at a glance:
in every phase of the liquid gas supply chain, including Key products and services: Air and gas handling
engineering, service and repair and from installation to products and technologies.
preventive maintenance and digital monitoring. Chart is
a leading provider of technology, equipment and services Main industries served:
related to liquefied natural gas, hydrogen, biogas and CO2 • Energy Transition – 41%
capture amongst other applications. Chart is committed • Oil and gas – 9%
to excellence in environmental, social and corporate • Others (industrials) – 50%
governance (ESG) issues both for its company as well as its
customers. With over 48 global manufacturing locations Headquarters: Georgia, US
and 41 service centress from the United States to Asia, Year established: 1854
Australia, India, Europe and South America, the company Number of employees: 11,725
maintains accountability and transparency to its team Revenue: £3.1bn
members, suppliers, customers and communities. Revenue from exports: 92%

146 Success stories
Instrument Transformers Ltd (ITL)

Finding firmer foundations to transform effectively
To protect client relationships, ITL continued to innovate
its product line with investment in capital equipment for
medium voltage transformer manufacturing and very high
current testing and seeking additional specialist engineers to
Ronnie Gormley, Owner help upskilling opportunities. This also provided the company
Paul Munro, Director leadership a roadmap to future growth.
The solution
How is ITL thriving?
ITL had begun to consider how it could adapt to turn fortunes
ITL has emerged successfully from the business hits of the in its favour starting back in 2018. In these early phases,
recent oil crisis and global pandemic, which induced an the firm looked at what new products were coming into
element of internal reflection that has subsequently built the marketplace, and how client demands were changing.
a firm diversification to both renewables and overseas Critically, this led to a focus on renewables solutions such as
markets. The company has proudly retained 100% of its cable monitoring using passive sensors to maximise utilisation
client base in its core transformer business. With focused of power generation assets.
vision from the business leaders, ITL signed a series of
strategic partnerships in cutting-edge technologies. Here it saw an opportunity, partnering with university spin-
offs to develop sensor-based technologies for transmission
The challenge and distribution solutions designed to help maximise asset
performance. Faults happen continuously in the lifetime of
ITL, a designer, manufacturer and supplier of transformers T&D equipment. However, nobody had previously monitored
for the accurate measurement and protection of electrical the termination points (TP) at the turbine towers or in the
equipment in substations, renewables, nuclear, transmission array. Instead, existing technologies were designed to monitor
and distribution (T&D), and vessel propulsion systems, the cable itself.
found itself in a transformative situation in 2018–2020.
As part of a strategic partnership, ITL saw opportunity
Like many energy organisations, it had been impacted to help solve this problem in a cost-effective manner by
by the oil crisis and then the pandemic, the firm facing hooking passive sensors onto existing fibre networks within
a reduction in revenue as a result of many of its ongoing the transmission system. Centralised electronics are then
projects having to be put on hold. A number of its implemented in relevant substations up to 60km away, which
international customers either relocated production or can then monitor up to 30 TPs per interrogator unit. TPs are
parts of their supply base to low-cost economies, while a common cause of failures, meaning service teams have
others were lost through amalgamation or acquisition. The to check all towers and TPs regularly and manually. With
challenge for ITL was to adapt to the contraction of the ITL’s solution, this can now be carried out passively with
UK customer base whilst also addressing the challenges of continuous monitoring highlighting any fault immediately, or
low-cost competition elsewhere in the world? trends that indicate the risk of faults ahead of time.

Success stories 147
The transformation wasn’t solely driven by developing this

new solution. Capitalising on it required several strategy
shifts. It wasn’t just a case of bringing the products to market,
but rolling them out strategically, targeting specific regions
and end users and forging critical partnerships.
The firm quickly shifted client focus, moving up the value

chain to deal directly with protection engineers in utilities
themselves rather than tier 2 or 3 suppliers. It opted to work
more closely with end user protection teams, driven by the
need to move away from low margin, high-volume projects –
a strategy that was in-part enabled by the company’s agility
as a small and nimble entity.
ITL designed a new range of LV/MV transformers over the

course of two years to meet the internationally renowned UL
standards and improve its prospects in overseas markets that
were US influenced. Further, it also invested £600,000 in a
new vacuum resin plant to aid doubling capacity for in-house
design and manufacture of transformers. ITL established a
new renewables division to support its activities within this
rapidly developing sector for UK businesses.
In terms of collaboration, a key partnership was established

with Synaptec for its passive fibre optic sensor technology
designed to detect, analyse and provide equipment
performance analysis for wind turbine operators, both onshore
and offshore and other HV land-based installations. There,
remote monitoring of HV cables and termination points can Story type
help identify problems before they occur, identify its location #resilience (main category)
and avoid costly and unnecessary shutdown of the whole array #collaboration, #service & solutions
or facility. Two joint ventures were also formed with partial
discharge industry experts for the permanent monitoring Benefits
systems of gas-insulated switchgear, further enhancing the • Ongoing diversification process.
range of solutions and services the company has to offer to • Complete recover process to revenues of five years
the power generation and transmission industry. ago.
While covid threw a major spanner into the works of ITL’s ITL at a glance:
repositioning strategy, the firm remained undeterred and Key products and services: Design, manufacture and
is now looking forward to continued growth. Today, ITLs supply transformers up to 400kv for the accurate
revenues have recovered to the levels seen five years ago. The measurement and protection of electrical equipment
firm is now on a path of major growth thanks to its diversified in substations, renewables, nuclear, T&D and vessel
foundations while also keeping hold of all key clients. Now propulsion systems.
capitalising on stable, traditional business opportunities in the
UK alongside its export strategy, ITL is well placed to excel Main industries served:
moving forward. • Conventional power/T&D – 90%
About ITL • Renewables – 2%
Focussed on Continuous Improvement in Process, Product • Nuclear power – 0.5%
and People (CI3P), Instrument Transformers Limited (ITL) • Others (vessel propulsion) – 1.5%
listens to customers’ needs and provides the most technically
and commercially optimum solution throughout its range. Headquarters: Glasgow, Scotland
Established in 1973, ITL has expanded nationally and Year established: 1973
internationally such that it is now an internationally known Number of employees: 30
name in the field of power measurement and protection. Revenue from exports: 40%

148 Success stories
KBR
Helping clients go green with the CleanSPEND� carbon calculator
In more recent times, KBR has been approached by
clients to help them find ways to support carbon cutting
Dave Cole, Director of strategies, a major hurdle being visibility and the capacity
Projects Solutions to predict emissions in the project planning stages. By the
middle of 2021, the company set out plans to develop
a new carbon calculation tool in light of interest from a
How is KBR thriving? growing number of firms operating in the energy sector.
Speed has and continues to be paramount, the company
As more and more stakeholders and asset operators in the needing to build and prove concept quickly in order to
energy sector look to push ahead with energy transition capitalise on the opportunity.
strategies, the ability to calculate emissions has never
been more important. Early visibility is essential to making The solution
sustainable enhancements – if projects emissions could be
accurately estimated before breaking ground and ordering Named CleanSPEND�, the carbon calculator can be used
with supply chain partners, then huge amounts of carbon either at the early stage of the design process. Users can
(and money) could be saved. input the parameters of their design over a detailed set
of questions, the system then producing an estimate of
KBR is actively taking on the carbon calculation challenged, the carbon output of the development across the entire
its CleanSPEND� solution already going through rigorous lifecycle.
proof of concept testing with clients and evolving into
what promises to be a game-changing tool. Having prototyped it on EV initially, the tool can be used
to calculate emissions for hydrogen, solar and offshore oil
The challenge and gas projects, with offshore wind due to be added later
this year.
Houston-based KBR has been providing government
agencies with a range of professional services for well The system draws on information from multiple
over two decades and rooted in 100 years of engineering databases and will only become smarter as more
history. Another core component of its offering is investing data and added complexity is added over time. The
in and developing sustainable technologies to help the platform is able to compare projects to create a carbon
corporate world advance its ESG agenda, the company baseline and a set of predicted criteria to start to
offering high-end advisory solutions centred around assess a carbon efficient or inefficient design. From
energy transition and technology-led asset optimisation. materials, fabrication and transportation to installation

Success stories 149
and decommissioning, all carbon-producing aspects of Story type

projects are considered. #sustainability (main category)
#digital, #innovation
Getting to this point has not been entirely straightforward.
Indeed, KBR has approached the building of CleanSPEND� Benefits
in small blocks, first proving the concept and gathering • Interest in the tool expressed by major global
feedback before moving on to broadening its capabilities. companies.
KBR has broad together an innovative team of engineers • Innovative project and investment in energy
and software developers to create the system to extend transition.
the value insights it has achieved.
Key findings
Today, KBR is still working with a select handful of clients For industry
to finalise the offering and make some final user interface • One good idea doesn’t make a differentiated
adjustments. Interest has been strong, with international solution. A few and you are a force to be reckoned
companies both IECs and IOCs. KBR is also working with.
closely with clients to compare emissions with their teams • Diverse teams solve complex problems
on total scope 1, 2 and 3 emissions.
For government
And it is easy to see why the concept appeals to the • Ask projects to show their total lifecycle emissions
sector. If companies can accurately model emissions and and prove they have selected the lowest carbon
how to reduce them before placing orders and starting intensive options.
construction work on projects, the potential to go green
in a cost-efficient manner is clear.
KBR at a glance:
Once fully deployed, CleanSPEND� could also turn Key products and services: Project solutions,
into a significant and impactful system for KBR’s professional services across defence, intelligence,
Client’s, the company are planning to roll it out on a space, aviation, spanning research and development,
subscription- service. Should it prove successful, the advanced prototyping, acquisition support, systems
firm will doubtlessly contribute to the advancement of engineering, cyber analysis, space domain awareness,
the energy transition agenda by unlocking the ability to supply chain management and more.
enhance the sustainable credentials of projects before
they take off. Main industries served:
About KBR • Energy Transition – 3%
• SAF (Sustainable Aviation Fuel) – 1%
KBR delivers science, technology and engineering • Others (government) – 80%
solutions to governments and companies performing
diverse, complex and mission-critical roles in 34 countries. Headquarters: Houston, US
KBR is proud to work with its customers across the globe Year established: 1998
to provide technology, value-added services, and long- Number of employees: 28,000
term operations and maintenance services to ensure Revenue: £5.3bn
consistent delivery with predictable results. Revenue from exports: 10%

150 Success stories
Kent
A reshaped business designed to drive energy transition
major acquisition and is now looking to instil a new sense of

energy into the industry with a focus on new technology,
John Gilley, CEO sustainability, culture, inclusion and belonging. Critically,
however, it is determined to remain agile and maintain
the ethos of the smaller, family-run businesses which has
enabled it to get to this point.
How is Kent thriving?
The solution
After more than 100 years in operation, Kent is reshaping
the business to lead the industry through the energy Following the acquisition, the Kent team took the time
transition. With early buy-in among colleagues and clients to articulate their ambitions and 2022 launched to
achieved through careful and coordinated communication employees at the industry at large their brave new purpose
and support, the company is impressively ahead of schedule statement: “Courageously tackling the greatest challenge
and on track to achieve several business targets by 2025. of our time to bring our world the energy it needs in the
most responsible way ever imagined”.
The challenge
To achieve this and drive the energy transition Kent focus
Kent’s philosophy is simple – to design, build and maintain on three core energy market streams that, come 2025,
the assets that power the world today, and make them the company wants to derive its business from equally –
future-ready for tomorrow. conventional, low carbon & renewables, and process &
chemicals, and they are well on track to achieve this.
Built up over 100 years, the company houses a formidable
amount of knowledge that enables it to offer a truly Kent has identified four specific service lines that it
cradle-to-grave service, from consulting to design, build, believes will help it to differentiate from competitors
commissioning and start-up through to the maintenance from a technical perspective. Indeed, it now presents a
and decommissioning of assets. And with projects executed full lifecycle service, covering consulting, engineering and
in over 80 countries, Kent has a truly global footprint. projects, completions, commissioning and start-up, and
operations and maintenance.
However, with the energy industry currently undergoing
a seismic shift, companies need to adapt if they are to All of this is being delivered from three core regional
avoid being left behind. With the real threat of climate bases covering EMEA, APAC and the Americas, and with
change, governments around the world are increasingly specialist engineering hubs in Dubai, Houston, London,
committing to new energies and technologies to drive the Perth and Mumbai.
energy transition and achieve net zero. Kent’s leadership
are determined to play a central role in this transition. Uniting their people under a common purpose has been
critical to the rollout of the strategy, which is ahead of
Recently, it quadrupled the size of the organisation with a schedule despite only launching at the start of 2022.

Success stories 151
With a commitment to authenticity and transparency,

Kent leverages an omni-channel approach to their
communications to keep colleagues informed and involved,
including video content, social media, an employee
engagement platform, Workvivo as well as townhalls led
by senior leaders. Client communication and engagement
has also been central to the success as they grow their
solid reputation for true partnership and generally being
good people to work with.
As a result of this coordinated communication exercise,

stakeholders have been on board from the beginning,
making the transition much more seamless than it otherwise
may have been. Those working in conventional energy
categories are still core to the strategy as these smart teams Story type
figure out ways to decarbonise and capture carbon from #transformation (main category)
the production of traditional fossil fuels. These teams are #energy transition
also trained and supported to pivot into adjacent renewable
markets where necessary, while new expertise has also Benefits
been brought in to bolster Kent’s renewable and low carbon • Outstanding credentials in energy transition
expertise. Implementing a flatter organisational structure has projects.
also helped with employee relations. The leadership team • The aim is for the low carbon and renewables
have always been committed to create the organisation of business to make up 50% of total revenue.
the future, with strong culture and transparency at its heart.
With a flatter organisational structure, the company has Key findings
benefitted from a more open-door culture where colleagues For industry
can have their ideas heard and there is greater cross- • This is a great time to be involved in this industry.
collaboration across different locations and teams. The technological and digital innovations to make
cleaner energies are fast and enormous.
Kent using its already outstanding credentials in energy • Be very sure of the purpose of the company
transition projects as a springboard to achieve the ahead of anything else because this dictates the
company’s new vision. Indeed, it has a 30-year track company’s strategy.
record in low-carbon work, which includes being involved
in 70% of the UK’s offshore wind schemes, more than For government
50 carbon capture projects globally, a strong presence • Demonisation of fossil fuels has led to a drain in
in hydrogen and multiple waste to energy developments. investments. This needs to swing back to avoid
Looking ahead, by 2025, the aim is for the low carbon and future price spikes whilst building our capacity of
renewables business to make up 50% of total revenue. clean renewable energy.
During this time, the company also seeks to double its Kent at a glance:
EBITDA. Having outperformed its budget to generate a Key products and services: From consulting to
revenue of $1,2m in 2022, momentum is certainly building. design, build, commissioning and start-up through to
Coupled with a promising record of employee retention in maintenance and decommissioning.
such a hot market, the roll out of Kent’s future-forward
strategy looks like an inspired move. Main industries served:
About Kent • Renewables – 34%
• Others (process and chemicals) – 26%
Kent designs, builds and maintains the assets that power
the world for today and make it future-ready for tomorrow. Headquarters: Dubai, UAE
With 100 years of know-how, it works across the asset Year established: 1919
lifecycle from consulting to design, build, commissioning Number of employees: 12,000+
and start-up through to maintenance and decommissioning. Revenue: £1bn

152 Success stories
Koil Energy Solutions

Embracing a new culture centred around innovation and energy transition
The primary concern was clear. How could the company
overcome its challenges, transform under new leadership,
Charles Njuguna, President & CEO and establish status as an important player in a rapidly
evolving industry?
The solution
How is Koil Energy Solutions thriving?
If Koil Energy was to transform effectively in an industry that
Confronted with a series of challenges, Koil Energy has was transitioning, significant change would be required. The
emerged thanks to a major strategic rethink and sweeping organisation recognised it needed to retain the best parts of
cultural change. In pivoting proactively towards energy itself from the past, while repositioning for the future.
transition technologies, the firm has succeeded in instilling
a mindset shift across its employee base that is now This strategic shift culminated in a rebrand in March 2022,
focused on curious thinking, collaboration and innovation. the firm moving away from its former name as it pursued
a new strategy pathway aimed at energising the future of
The challenge the subsea energy sector while preserving a standard of
creative solutions developed over the years.
Design, engineering, manufacturing, installation and after-
market services provider Koil Energy (formerly Deep “Koil Energy may be a new name, but our DNA remains
Down, Inc.) is an enterprise primarily focused on delivering the same… As our customers expand their horizons beyond
subsea energy products and services. traditional oil and gas, this move is a charge into a new era,
with a steadfast commitment to what we pride ourselves
Back in 2019, the firm faced turbulence and change in the on, nimbly finding unique ways to enhance offshore energy
aftermath of its founder retiring. With Charles Njuguna operations,” said Njuguna, commenting on the rebrand.
stepping into the role of CEO, he became tasked with steering
the company in a new, futureproofed direction – challenging The focus of the strategic repositioning was two-pronged.
aspirations as Covid-19 hit just a few months later. First, the company sought to continue to have an intentional
focus, whilst widening its reach in relation to innovative
Faced with negative oil prices, increasingly intense energy industry technologies. Expanding its reach beyond oil and
transition demands and the volatility of the pandemic gas required an internal cultural change. Second, to both
period, Koil was plunged into uncertainty. The bread and influence and obtain buy-in to this cultural change, Koil
butter of its operations was centred around hydraulics – a Energy created cross-functional working groups to act as
specialism that the industry was speaking about leaving charters to drive cultural changes in various areas, including
behind as organisations worldwide actively began moving operational excellence, growth and sales, products and
away from oil and gas. innovation, ESG and sustainability, brand and market
perception, and talent development and retention.

Success stories 153
These groups provided Koil Energy’s employees with

the platform to take ownership of the firm’s transition,
encouraging them to think innovatively. It enabled
engineers with a passion for marketing to contribute to
marketing efforts, and service technicians to suggest
process improvements outside their original areas.
The initiative has improved cross-functional relationships,

providing staff members with the confidence to suggest
and implement disruptive improvements and changes. To
maximise involvement across the groups, Koil Energy has
rotated participants across these charters. Further, the
company moved into a new facility in September 2022.
It has invested heavily in amenities such as flexible desks,
creating an entirely new clean and modern look and feel.
Its new campus now has state-of-the-art breakout rooms,
a game centre, gym and wellness rooms. Critically, with
everyone now operating out of one central location, the
team has become increasingly unified, physically breaking
down potential internal divisions.
While these cultural and office shifts underpin the core shift
in thinking at Koil Energy as it moves into a new era, much
has been achieved since Njuguna became CEO. The result
of this focus on collaboration has been several changes.
Indeed, the company is now more intentional in its efforts,
slowing down the pace of change around HR initiatives to
more effectively gauge and measure success, for example. Story type
And it has also revamped its paperwork, establishing a #culture (main category)
more precise, fluid and quality-centric system. #energy transition
A deep dive into Koil Energy’s equipment strategy to position Benefits

more effectively for energy transition has also led to several • Koil Energy better positioned for energy transition.
changes. Where the firm was historically provided multi- • Internal processes enhanced.
quick connect (MQC) plates by others, it now manufacturers
its own such products including a new version rated Key findings
20,000psi for new frontier energy projects, based on a For industry
patent-pending design containing 50% fewer unique part • The oil & gas industry not done enough to drive
numbers, while increasing capacity by over 125%. These the energy transition conversation. It is a source of
tweaks are testament to the company’s embrace of change. good, it can drive the energy transition. Oil and gas
No longer do Koil Energy’s employees ask “if”, but “how”, can be part of the solution.
with a mindset shift having swept across the company. With
this philosophy now at the heart of the enterprise, it is now Koil Energy at a glance:
poised for innovation in the coming years. Key products and services: Design, engineering,
manufacturing, installation and after-market services
About Koil Energy Solutions of subsea energy products and services.
Koil Energy is a leading energy services company offering Main industries served:
subsea equipment and support services to the world’s energy • Oil and gas – 90%
and offshore industries. The company provides innovative • Renewables – 10%
solutions to complex customer challenges presented
between the production facility and the energy sources. Headquarters: Houston, US
Formerly Deep Down, Inc., the Houston-based company was Year established: 1997
founded in 1997, and is comprised of world-class experts in Number of employees: 49
engineering, manufacturing and offshore installation, with a Revenue: £10.5m
fearless commitment to Energizing the Future. Revenue from exports: 25%

154 Success stories
Lloyd’s Register
Rebuilding its maritime and energy business from a stronger, more focused core
to grow it to £1.5 billion in size through a series of
acquisitions. However, the strategy failed to deliver a
Sean van der Post, Global Offshore setup that was cohesive – instead, the organisation had
Business Director become fragmented and too thinly spread.
Fundamental change was therefore required to create a

How is Lloyd’s Register thriving? more stable platform from which it could invest in growth
once again.
Following the oil price crash of the mid 2010s, Lloyd’s
Register realised it needed to take stock. Its energy The solution
business had morphed into a fragmented and unfocused
entity that was too thinly spread and in need of a solid A new maritime-centred vision was launched in 2016, with
foundation from which to built sustainably. offshore carved out of the wider energy business. Two
years later, the energy business itself was divested, with
Tough decisions were made in the ensuing years. The firm Vysus going its separate ways and leaving the offshore
opted to divest two of its divisions and reduce headcount unit as the sole Lloyd’s Register division operating in the
from 10,000 to 3,500 employees, for example. However, sector.
today, the company’s offering in the maritime and offshore
energy space is both focused and improved, helping it to In 2020, the business assurance and inspection services
rebuild its reputation as a trusted asset assurance partner division was also divested and now stands as an
to the oil and gas industry, enabling firms to thrive in independent business named LRQA.
today’s changing market.
The offshore business thus reorganised itself around five
The challenge core pillars:
The crisis triggered by events in 2014 signalled the • Asset Lifecycle: Helping clients to reduce operating
start of a difficult period for Lloyd’s Register. Financial costs with effective asset lifecycle planning and
performance took a hit in the following two years, management.
prompting its leadership to change course. Complexity • Asset of the Future: Gearing customers towards
needed to be removed from the organisation – especially making smart spending choices on new technologies.
lines of business which were threatening to compromise • Energy Transition: Adapting operations to help clients
the healthier facets of the company which were continuing remain relevant in evolving energy markets.
to perform well. • Decommissioning & Recycling: Expert solutions to
help navigate the regulatory, legal and technical
Prior to the 2014 downturn, the group had major complexities involved with end-of-life strategies.
aspirations for its energy business, the objective being • Remote Services: Helping clients to increase their

Success stories 155
flexibility and work smarter with services powered by

remote technologies.
With a newly streamlined and focused offshore/energy

organisation, Lloyd’s Register went into the current decade
optimistic about what lay ahead, not least because it had
proper control over its strategy for the energy market
once more.
Although the Covid-19 pandemic caused some confusion

as to how to approach the oil and gas market, the events
of 2022 following Russia’s invasion of Ukraine have placed
energy security front and centre of the political agenda, Story type
signalling an uptick investment which has opened many #transformation (main category)
new doors for the company. #service & solutions
For example, it is now working with New Fortress Energy on Benefits

how it can change the way LNG is brought into the US – a • Project win conversions jumped from 26% to 42%.
market which the firm had previously underexplored. A suite • Registered growth in nuclear projects.
of nine projects, it is a novel challenge that involves installing
a production facility on former Maersk jack ups, and is a Key findings
perfect representation of where Lloyd’s Register sees a lot For industry
of potential moving forwards with its offshore business. • Recognise role the audience has to play.
• Help the supply chain to make investments in
Overall, the pipeline for the year ending June 2023 already energy transition.
looks markedly higher, with activity in the first six months
already 20% up compared to the full 12 months leading For government
up to June 2022. Project win conversions have jumped • Create the environment that stimulates the
from 26% to 42%, while staff turnover is less than 10%, a government’s ideas and aspirations.
feat in itself given the disruptive market and restructuring • Provide policy necessary for cross industry
that has occurred in the business. collaboration.
With nuclear projects, especially around small modular Lloyd’s Register at a glance:
reactors, also finding their way onto Lloyd’s Register’s Key products and services: Oldest classification
books, there are now multiple avenues through which society, grown since then into other areas. Now the
the company can continue its energy sector rebuilding trusted advisor to maritime industry, with focus on the
exercise. sustainable ocean economy.
About Lloyd’s Register Main industries served:

Lloyd’s Register started out in 1760 as a marine classification • Oil and gas – 70%
society. Today, it’s one of the world’s leading providers • Renewables – 25%
of professional services for engineering and technology • Energy Transition – 5%
– improving safety and increasing the performance of
critical infrastructures for customers in over 75 countries Headquarters: London, UK
worldwide. Profits generated fund the Lloyd’s Register Year established: 1760
Foundation, a charity which supports engineering-related Number of employees: 3,500
research, education and public engagement around Revenue: £500
everything the company does. Revenue from exports: 75%

156 Success stories
MaxGrip
Changing course to emerge stronger from the Covid downturn
Unfortunately, MaxGrip APAC had to reduce its headcount
by 40% at the end of 2020 due to the lack of business, a
Martijn van den Broecke, CEO decision which was not taken lightly due to the fact that
its USP is centred around the expertise of its people. Amid
a difficult backdrop, MaxGrip needed to adapt its offering
to remain relevant and get the most out of the experts
How is MaxGrip thriving? that remained.
With its traditional lines of business drying up due to The solution

a reluctance of stakeholders in the Malaysian energy
market to make capital investments, MaxGrip arrived at a A crucial pivot was made when the company decided to
critical crossroads at the end of 2020. Faced with difficult develop a new offering that would require substantially
decisions, the company chose to realign its offering and less initial investment from clients.
present an asset management formula to clients which
involves less risk and reduced upfront spend. Not only Launched in 2021 and named the Asset Improvement
has this incremental offering proven popular, but also Program (AIP), the solution is all about helping clients
saved MaxGrip Malaysia in the process. Today, the global optimise the performance of their assets, on a technical and
company stands in a more robust position than at any operational level. It centers around improving equipment
time since it started out in Malaysia in 2012. reliability and asset integrity, maintenance & inspection
efficiency, and providing insights and control. The AIP
The challenge typically optimizes production output, reduces Total Cost
of Ownership and overcomes compliance restraints.
For more than a decade, MaxGrip Malaysia has been
a helping hand for players in the energy sector, The program has a 3-step approach: Asset Improvement
specialising in asset performance management. With a Mapping (AIM), followed by the Asset Improvement
cohort of highly experienced and capable people on Deployment (AID), and finally the Asset Improvement
its books, the company soon expanded into a sizeable Rollout (AIR).
enterprise and built up an esteemed reputation among
industry peers. The first step (AIM) is an assessment, not an audit, of the
asset performance improvement potential by evaluating
However, during the covid pandemic it was hit by a and describing the current way of operating and how to
drying up of energy-focused investments in Malaysia improve. This includes developing a roadmap with short-
and the broader APAC region. Indeed, it took the region term wins and longer-term improvements. The second
considerably longer than Europe and the US to emerge step (AID) is to select, together with the client, one or two
out of the economic downturn (MaxGrip also has offices in improvement initiatives that MaxGrip helps deploy on a
Europe and US), the western hemisphere generally being limited scale. This is a proof of concept to show it delivers
more optimistic about leaving the pandemic behind it. the value MaxGrip claims.

Success stories 157
Finally, once a client is convinced of the value delivered

in the PoC, the third and last step (AIR) is to scale up
the program to a site-wide or multi-site level. The scale
depends on a client’s expectations and ambitions.
This incremental approach has proven to customers that

MaxGrip can realize results. This alleviated the hesitancy
of customers to spend capital, and thus unlocked new
opportunities for the company just when it looked as
though revenue streams were being closed off.
Alongside this more flexible approach, MaxGrip has also

turned to a more agile strategy towards resourcing, working
around a core group of engineers with a pool of resources
hired for specific projects only, as and when the business
comes online. This has allowed it to grow and shrink as
and when new projects take off or complete, at the same
time enabling the firm to identify and permanently hire
new talented people who add the most value.
Although some resistance to the new approach of

identifying and implementing performance improvements
has been met along the way, due to concerns among some
client contacts that it would expose shortcomings of their Story type
own performance, the AIP has proven itself as a business- #transformation (main category)
saving strategy. In fact, MaxGrip has completed 158 AIMs #optimisation
which were done at sites in eighteen countries on four
different continents. Benefits
• Their agile way of resourcing.
Many clients have taken well to the programme, including • AIP’s success in creating a more flexible gated
a business operating in the food and beverage sector approach which has proven itself as a business-
which has turned to MaxGrip to install a condition-based saving strategy.
maintenance approach on its key equipment. Another
key feature of the project has been the implementation Key findings
of activity-based budgeting, as well as a split between For industry
reliability and maintenance engineering (which require • Believe and invest in your USPs: why would a client
different competencies). Results have already been positive, choose you over another company? Focus on that.
with an improvement being seen in the ration of preventive • Be creative when times are tough. Reimagine
and corrective maintenance work being carried out. and repackage your value propositions to fit the
circumstances of that time.
As more and more successful implementations of AIP are
added to MaxGrip’s portfolio, momentum will continue Maxgrip at a glance:
to build. Indeed, the company finds itself in a highly Key products and services: Engineering services
competitive position and on the path to growth once and strategic consulting for asset performance
again, a situation that did not look plausible during the management.
height of the pandemic when its conventional lines of
business began to close off. Main industries served:
About Maxgrip • Conventional power – 10%
• Others (non-energy: pharmaceutical) – 10%
MaxGrip is a consultancy firm specialized in Asset
Performance Management (APM). The results of MaxGrip’s Headquarters: Utrecht, Netherlands
approach are increased asset availability, enhanced Year established: 2012 (Malaysia) (1997: Netherlands)
reliability, higher efficiency, improved productivity, and Number of employees: 30 (globally: 120+)
significant cost reductions. MaxGrip was founded in 1997 Revenue: £1.6m (in Malaysia)
and has offices in the Netherlands (HQ), US and Malaysia. Revenue from exports: 50%

158 Success stories
MHB
Year of tremendous growth for MHB with net profit surging to RM68m, the first
NPAT since 2017
short, it had to demonstrate ‘adaptation’ and ‘prudence’ to
reverse four straight years of losses and return to profitability.
Pandai Othman, CEO and
Managing Director The solution
Having conducted a thorough strategic risks and oppor-

How is MHB thriving? tunities assessment, MHB enacted several transformations
through 2022 that have driven its turnaround.
Malaysia Marine and Heavy Engineering Holdings Berhad
(MHB) has embarked on a series of strategic shifts and The first focus was on capability development. Here,
transformations over the past two years, where these the company developed three functional core teams in
realignments have facilitated it to return to profitability at a the disciplines of Design Engineering, Transportation &
far greater magnitude than previously expected. Now, with Installation (T&I), and Hook-up & Commissioning (HUC).
a healthy pipeline of projects awarded and currently being Alongside this, it also expanded the scope of its in-house
developed by both business divisions i.e., heavy engineering work to strengthen self-reliance for critical processes, as
and marine, momentum is clearly gathering pace. well as upskilled numerous employees through external
courses and on-the-job training.
The challenge
Another key transformation executed was in the form
The past decade has felt like an unrelenting conveyor of digitalisation. Named the PANTHERA initiative, the
belt of challenges. Year after year, companies operating in strategy centres around optimising and digitalising
the energy space have been hit hard by the low oil price end-to-end Engineering, Procurement, Construction,
scenario from 2014/15, economic downturn and ongoing Installation & Commissioning (EPCIC) supply chain
geopolitical tensions in various parts of the world. management processes, from bid preparation through to
end of warranty. Work processes will be documented, and
The COVID-19 pandemic in particular has caused data altered and used with transparency, reliability and
disruptions, for instance, forced shutdowns of activities, traceability to establish a single source of truth for any
new safety procedures, and a crunch in the supply of particular project at any one time. Although this digitalising
labour which often relies on seamless cross-border travel. effort is still being implemented phase by phase, the
company is already reaping its commercial benefits.
MHB is no stranger to these dynamics. Faced with such a
mix of challenges, its leadership embarked on a detailed The third key focus concerns culture, especially in regard to
reassessment of risks, challenges and opportunities. Indeed, the way MHB approaches risk management. Over the last
if it was to emerge from this period of difficulty stronger, two years, the company has totally revamped its risk-related
the company needed to realign its key strategic priorities to processes, setting up a host of standard procedures that
ensure sustainable growth and enhanced competitiveness. In made risk management compulsory, clear and transparent

Success stories 159
for prudent decision making. To this end, MHB has averted

financially onerous projects and risky investments.
Finally, the company has been ironing out critical issues

that have led to project delivery challenges across every
department of heavy engineering. This has involved
identifying gaps in personnel and process, leading to the
creation of 30 mitigation plans which were executed and
tracked progressively. Most of these gaps have been closed,
notably in areas around the bidding process as well as activities
in the Front End Engineering Design (FEED) verification.
Implementing such root-and-branch changes has not been

without its obstacles. It has required a mindset shift for all Story type
employees, moving away from a focus on individual roles #transformation (main category)
into holding a sense of accountability and understanding
on how they contribute to the overall business. Employees Benefits
have also had to be reassured during periods of financial • Headline figures for the year include a total order
losses, with communication of turnaround strategies and book of RM6.6bn, which was among the highest in
successes being critical to keeping people motivated, MHB’s 50-year history, and a profit of RM68m, first
optimistic and on board. net profit after tax (NPAT) since 2017.
All these initiatives have fuelled a remarkable financial Key findings

recovery through 2022. Headline figures for the year For industry
include a total order book of RM6.6bn, which was among • Be meticulous and precise when considering the
the highest in MHB’s 50-year history, and a profit of risk of any venture. Always ensure that you are able
RM68m, first net profit after tax (NPAT) since 2017. Both to deliver on your promise in order to maintain your
the heavy engineering and marine divisions have played client’s trust.
their part. The former, for example, was awarded the • Your people are your biggest asset. Take care of
Kasawari Carbon Capture & Storage (CCS) project, the them through tough times, guide them to perform
first of its kind in Malaysia and the world’s largest offshore their duties with sincerity and integrity.
CCS project by volume of CO2 captured. Meanwhile, the
marine division secured 53 projects from 41 new clients, 31 For government
of these being international customers. This paints a much • Implement easy and clear tax facilities for export
more optimistic picture than what MHB was faced with at products via specific export schemes, as well as
the start of 2022. Having remained measured and taken tax exemption on import duties and sales tax on
the time to evaluate the areas in need of transformation, material purchased or imported for construction/
the company is now very much on an upward trajectory production of the products for export.
and once again firing on all cylinders.
MHB at a glance:
About MHB Key products and services: full EPCIC services for
the offshore energy industry; and comprehensive
MHB is a globally trusted energy and marine solutions marine services (repair, maintenance, conversion,
provider for a wide range of offshore and onshore facilities refurbishment, etc) for all types of marine facilities
and vessels. It has 50 years of track record in delivering
integrated and complex solutions to international oil & Main industries served:
gas clients. Owns and operates the largest fabrication • Heavy Engineering – 79.6%
yard in Malaysia and Southeast Asia that is equipped with – Oil & Gas
world-class facilities, MHB is recognised for its expertise – Energy Transition
in offshore deepwater fabrication, offshore conversion • Marine Repair and Maintenance - 20.4%
services and ship repair which include LNG carrier repair
and dry docking. MHB also owns three dry docks which Headquarters: Menara Dayabumi, Malaysia
are amongst the largest dry docks in Southeast Asia. MHB Year established: 1973
is also commonly known as Malaysia Marine and Heavy Number of employees: 3,933
Engineering Sdn Bhd or simply MMHE, its wholly owned Revenue: £278m
subsidiary and main operating entity. Revenue from exports: 20%

160 Success stories
Mott MacDonald
Helping to put hydrogen on the European clean energy map
if targets such as those outlined in the Paris Agreement

Prem Mahi, Technical Excellence are to be met.
Director – Energy
Mott MacDonald can approach this challenge from a
privileged position. Thanks to its formidable experience,
How is Mott MacDonald thriving? it is able to help set industry thinking and passionately
cares about meeting 2050 deadlines. The key question
Having already proven itself as an early backer of new facing the company, therefore, lies in what projects to
technologies when it picked up a significant market back and to ensure that its skills and knowledge are both
share in carbon capture more than a decade ago, Mott futureproofed and invested in the right areas.
MacDonald continues to place its faith in solutions
designed to advance the journey to net zero by 2050. The solution
Of particular note is its current involvement in developing The company has been a proactive exponent of its
hydrogen (H2) production capabilities in Northern partnership with EIC. Leveraging its contacts and
Europe, the company taking on the role as a technical information hub, it has been able to identify energy
and commercial partner in a project to develop a network transition trends early and therefore invest in the relevant
of offshore wind farms in the North Sea that will power people and capabilities ahead of the curve, a formula
onshore green H2 production. Given the project is backed which has won over clients time after time.
by a consortium of industry heavyweights, the contract
award is another major feather in Mott MacDonald’s This was undoubtedly the case with carbon capture, a
extensive cap. technology it placed huge faith in and resultantly gained
a significant market share in the early UK market. This
The challenge included the installation of carbon capture and storage
at Longannet power station in Scotland, a UK first at the
A longstanding, multi-sector engineering and management time (2009).
consultancy service provider, Mott MacDonald has
witnessed first-hand the peaks, troughs, breakthroughs Today, it is actively positioning itself in the thermal energy
and challenges facing the energy sector over recent transition market, as well as various applications of green
decades. hydrogen and associated products such as ammonia,
ethanol and e-fuels. Indeed, hydrogen has been on the
Today’s challenge very much centres around how to company’s radar for at least six years, with activity in this
transition to a net zero society in a way that is feasible space snowballing since the turn of the decade.
by 2050. The UK, along with many other nations, has
made strong commitments that continue to be solidified In 2021, Mott MacDonald secured involvement as the
at successive COP conferences, and time is getting away principle technical and commercial partner for NortH2,

Success stories 161
an international consortium that is jointly investigating

the feasibility of large-scale production, storage and
transmission of green hydrogen in north-western Europe. Story type
#energy transition (main category)
Made up of Groningen Seaports, Eneco, RWE, Equinor and #people & competency, #service & solutions
Shell, the group is investigating how a large-scale supply
of hydrogen fuel can be achieved by working together on Benefits
all aspects of the supply chain – from wind energy and • Efforts towards energy transition and net-zero
electrolysis to transmission and storage. Ultimately, its goals.
aim is to supply industry with 4GW of green hydrogen by • The company’s good reputation among some of
2030 and 10GW per year by 2040, at which time it will Europe’s most prolific developers.
be producing 1,000,000 metric tons on an annual basis.
Key findings
With its multifaced expertise and track record for For industry
backing technologies in their early days of development, • Energy transition will happen, don’t be afraid of it.
Mott MacDonald is perfectly positioned to support Have a flexible mind.
NortH2. The work entails a technical scope, as well as • Identify the key players. It’s difficult to get action
consultancy on health and safety, commercial, permitting, with too many players involved.
and environmental and social issues. Phase one involved
calculating potential costs to produce the hydrogen, with For government
phase two currently looking deeply into various engineering • Mandate carbon capture on all thermal power
and technology solutions to make the project viable. Once plants before moving to other policies.
these studies have been completed, positioning for phase
three and the introduction of architect engineers will Mott MacDonald at a glance:
begin. Key products and services: Multi-sector engineering
and management consultancy service. The sectors
Although still at a relatively early stage, Mott MacDonald’s covered are transport, energy, water and buildings and
involvement to date is testament to how the company is cities. Also, international development sector.
viewed by some of Europe’s most prolific developers. The
company has form in making the right call on emerging Main industries served:
energy technologies, a track record that has paved the • Conventional fuels – 10%
way for the opening of yet another door into energy • Conventional power – 25%
transition and Europe’s net zero journey. • Nuclear power – 35%
About Mott MacDonald • Energy Transition – 15%
Mott MacDonald has a uniquely diverse range of Headquarters: Croydon, UK

consultants delivering extremely high profile projects Year established: 1989
across the world. Their purpose is to improve society Number of employees: 18,000 (Global), 8,000 (UK)
by considering social outcomes, relentlessly focusing on Revenue: £2bn (Mott MacDonald turnover), £300m
excellence and digital innovation, transforming clients’ (Energy turnover)
businesses, communities and employee opportunities. Revenue from exports: 70%

162 Success stories
MSTS Asia
A fresh approach to HR to overcome talent retention and development challenges
Covid-19, therefore, hit the company hard. A tough
decision had to be made to balance human capital and the
Syed Muzakir, company’s survival – during that period, many employees
Managing Director had to be put under a mandatory separation scheme, and
others that stayed on were unable to travel to client sites
and forced to work from home.
How is MSTS Asia thriving?
MSTS turned to digitisation. The theory section of its
Forced to change its service delivering model almost training offering was converted to an e-learning platform,
overnight due to the impact of Covid-19, Malaysia’s MSTS its trainers now delivering content using cameras and
faced an acute employee morale and retention problem online facilities from home. The company also upgraded its
after switching to a remote working model. servers, switching to SharePoint and cloud-based software
to enable it to conduct seamless and standardised lessons
However, thanks to a newly shaped HR function, skills without compromising the quality of teaching.
gaps are being better identified and acted upon, and staff
are genuinely having their voices heard. And although the However, post Covid MSTS saw large numbers of
process has not been entirely plain sailing, the company resignations due to changes in the workplace environment.
has been willing to adapt and change as situations evolve, A major hurdle to overcome, the situation demanded a
with communication being key to keeping colleagues on fresh approach to talent retention and staff development.
board and engaged.
The solution
Today, MSTS stands far better positioned to provide value
to its clients. Revenues and profits have also recovered to In response, MSTS introduced a new style of HR.
the sort of levels seen prior to 2020. Rebranded as a People and Culture department, the
function is now viewed as a genuine business partner as
The challenge opposed to a body that just oversees hiring.
As a company which specialises in the delivery of safety A first key step has been keeping the head of HR informed
training and consultancy services to critical industries of operational happenings on a weekly basis, allowing
such as the energy sector, MSTS relies heavily on face-to- them to better understand the company’s competency
face interaction to offer a best-in-kind service and value gaps while also connecting with employees and catering
for clients. to their development needs. In tandem, MSTS has created

Success stories 163
a new culture of responsibility and accountability in every

aspect of the process, defined by open discussion where
suggestions are welcome at every level of the business.
Meanwhile, new KPIs and more balanced scorecards Story type

which focus on measurable targets have been introduced. #transformation (main category)
And alongside identifying and plugging gaps in technical #culture
knowledge, the company has conducted soft skills training
sessions across all teams and locations to help bring team Benefits
members closer together. • Transformation in work environment.
• Revenues and profits are recovering to levels seen
The key to the success of this transition has been removing before the pandemic.
any element of a top-down approach. Employees are
routinely consulted, and the company is now a much Key findings
better listener thanks to its repurposed HR team. For industry
• Be resilient in ever-changing economic
Indeed, it has been open to a trial-and-error approach, testing circumstances. Strategies are not cast in stone.
new strategies and replanning as situations change. This has • A good leadership style is needed in the world we
required careful and constant communication with staff, an live in today. No longer a top-to-bottom approach.
effective method being quarterly town halls whereby all The younger generation needs to feel that their
employees are invited to participate in two-way discussions. voices and concerns are heard.
Feedback on everything from e-learning content to facilities
upkeep is also gathered regularly, providing important For government
analysis that informs updates on an ongoing basis. • More tax cut for companies that spend money on
developing staff.
Today, the company very much feels like a unified force
once again. Morale has improved, while revenues and MSTS Asia at a glance:
profits are recovering to levels seen before the pandemic. Key products and services: Safety training, digital
solutions, e-learning, LMS, managed services,
Looking ahead, MSTS aims to continue providing industry- applications, simulations and control of work.
leading value for money, offering the most up to date learning
modules which are continually reviewed and developed to Main industries served:
meet ever-changing industry requirements. With its own • Oil and gas – 60%
operations back onto a firm footing, its remotivated team • Renewables – 20%
are well-positioned to drive forward in the future. • Others (maritime, construction, safety courses) –
20%
About MSTS Asia
Headquarters: Kuala Lumpur, Malaysia
MSTS Asia is a highly reputable organization that provides Year established: 2000
internationally accredited safety training and consultancy Number of employees: 100
services to safety-critical industries and the public sectors Revenue: £8.1m
in Malaysia, Singapore and Thailand.

164 Success stories
MYRCAT R
Marine & Cargo Solutions
Myrcator Marine & Cargo

Solutions
Excelling as a fledgling enterprise through a focus on quality and integrity
While Covid-19 was embraced as an opportunity rather
than an obstacle, several additional challenges equally
Cris Partridge, Managing Director emerged, Partridge facing significant obstacles in even
setting up the company and dealing with the extensive
bureaucracy involved. Further, the firm immediately
faced and continues to attempt to navigate issues
How is Myrcator Marine & Cargo Solutions thriving? surrounding vessel charter rates placed upon vessel
operators.
Despite being founded during the height of the pandemic
and facing several challenges during its inception, Myrcator However, despite the odds being stacked against it,
Marine & Cargo Solutions has successfully established itself Myrcator has emerged as a successful enterprise now
as a leading industry consultancy. Driven by its core values entering its third year of operation.
of integrity and quality, the firm’s commitment to providing
exceptional services has enabled to retain its core client base The solution
and quickly amass annual revenues exceeding USD$250,000.
From the outset, Myrcator was focused on establishing
The challenge a reputation for delivering quality work on time while
helping its clients to find solutions to problems rather than
Myrcator Marine & Cargo Solutions is a client-tailored causing more. As a result, the firm’s growth strategy has
marine consultancy providing specialised inspections, centred around evolving capabilities in response to client
project cargo supervision and expert witness services to demands, Partridge keen to ensure that the company
organisations operating across the energy sector. never wavers from its intended path.
Established in 2020, CEO Cris Partridge had a clear As its clients’ needs have become clearer, Myrcator has
vision for what he wanted to company to be. Bringing honed on in catering to these specific requirements,
his extensive experience to the table, the desire centred developing and mastering a specialised set of services
around providing agile, market-leading services, avoiding that it has continued to perform well with over time,
any engagement in the race to the bottom and an erosion consolidating its trusted reputation.
of standards in favour of integrity and quality.
While its launch in 2020 was by no means easy, the recency
Unfortunately, the company didn’t enjoy the easiest of of the company has provided it with a key competitive
beginnings. Founded during the height of the pandemic, it advantage, its agility enabling it to react and response to
was launched into a tough operating and economic climate. market needs in this way at speed.

Success stories 165
Indeed, from day one the firm embraced modern and novel
ways of working. In adopting technologies and embracing
solutions such as the use of tablets for surveys, live video
feeds to owners who are remote from their vessels, and
online groups to provide real time updates to clients, it has
become renowned as an innovator in its specific market
segment.
This doesn’t mean that Myrcator is always the cheapest,

yet the firm is fundamentally focused on quality, integrity
and attention to detail, refusing to cut critical corners in an
attempt to compromise on price.
Indeed, the value of its work is evident in several

completed projects. In working with one offshore
construction company, for example, Myrcator was
commissioned to deliver a comprehensive package
of services spanning SMS, ISPS and MLC to Mooring
Analyses, a SAR plan and Evacuation Plan for two
offshore construction barges.
Despite the large scope of work, the entire package was

delivered within five months, with the barges subsequently
being approved for operation in India, enabling the client Story type
to commence a key contract. #people & competency (main category)
#culture
Indeed, the company’s success is reflected in its revenues,
these having grown year over year with the organisation Benefits
now established as a quarter of a million-dollar revenue • Several successful completed projects.
entity, as of 2022. Further, the firm has consistently • Company’s success is reflected in its revenues,
expanded and retained its client base, with a quarter £205,000 as of 2022.
of its new business actually stemming from external
recommendations, referrals and word of mouth. Key findings
For industry
Since day one, Myrcator has focused on the ethical, • Research the market, be confident in your abilities
professional, and responsible provision of services. And and deliver on promises.
almost three years on, despite having evolved dramatically • Be master of a few, not jack of all trades. Don’t try
as it has overcome several early challenges, these core to offer everything if you won’t be good at it.
values remain at the very centre of the organisation’s • You are only as good as your last deliverable,
operational mandate. integrity is everything.
In sticking to its basic principles of quality and accountability Myrcator Marine & Cargo Solutions at a glance:
as a sound benchmark of performance, the firm looks well Key products and services: Client tailored marine
placed to enhance its reputation and further establish consultancy, specialized marine inspections, project
itself in the market moving forward. cargo supervision and expert witness services.
About Myrcator Marine & Cargo Solutions Main industries served:

Myrcator Marine & Cargo Solutions FZE, established • Others (logistics, project cargo carriers, S&P
in 2020 and based in the UAE, is a reputable global brokers…) – 50%
provider of marine and project cargo related consultancy
and inspection services to many international clients. By Headquarters: Abu Dhabi, UAE
valuing honesty and integrity above all else, they are proud Year established: 2020
that 80% of their business consists of repeat customers Number of employees: 1
who continue to trust them with delivering exceptional Revenue: £205,000
professional solutions no matter the location. Revenue from exports: 80%

166 Success stories
NMT
Facing up to a series of challenges to remain a competitive supplier in the Nigerian
oil and gas sector
More recent years have required NMT to demonstrate
resilience to maintain its esteemed reputation across
Obehi Ojeaga, General Manager the country – the challenges it has faced have been
Business Development multifaceted and, in many cases, complex due to ongoing
events.
How is NMT thriving? The solution
Nigeria Machine Tools (NMT), some 40 years in the Despite the challenges, NMT has shown an ability to adapt,
making, has had to overcome a series of challenges of late. graft and innovate to stay on top of its game.
Today, the OEM is a leading integrated engineering and
manufacturing company offering engineering solutions For example, the current inflation rate in Nigeria is
for piping packages and anti-corrosion protection within 21%, a reality which has made it extremely difficult to
the oil and gas industry in Nigeria, a status which it has be competitive in the local market, especially when up
worked hard to maintain. against competitors from China and other Asian suppliers
for contracts. Energy bills have risen by more than 50%,
Indeed, the company has come up against several while freight and transportation costs have soared by over
obstacles relating to technology, inflation, talent and 85% in a short space of time.
world’s socio-political instability in recent times, not
forgetting the enormously disruptive period caused by While there is not a huge amount NMT can do to alter the
the pandemic. bigger inflationary picture, the company is working closely
with Nigerian governing authorities, regulatory bodies and
Fast forward to 2023, and the firm now looks set to other key stakeholders in an attempt to find resolutions. It has
continue thriving as a heritage brand within Nigeria and a also implemented cost saving strategies, including a careful,
key supporter of various national industries. price forecast-driven approach to purchasing raw materials.
The challenge Another major challenge centres around attracting and

retaining engineering talent. Many technically qualified
The 2010s was a landmark decade for NMT. The company, and young engineers leave the country to pursue
which produces a range of stud bolts and nuts, industrial opportunities in Europe and other developed markets,
and municipal castings, flanges and customised industrial leaving a sizeable skills gap that NMT has to try and fill. To
spares, as well as providing technical training services, do so, the company invests heavily in training programmes,
secured its ISO certification in 2014. A year later, it giving trainees exposure to real life experiences on the
achieved its first OEM approval status with Shell Nigeria, shop floor so they can learn first-hand about industrial
the firm now also an in-country OEM for Chevron, Total processes. In addition, the firm is savvy when it comes
Energies and ExxonMobil. to communicating to the younger workforce, making use

Success stories 167
of social media platforms and video reels to highlight the

opportunities to be had by staying local and making a
career in the sector. This approach has helped to keep the
talent pipeline intact.
Meanwhile, one of the key longer-term challenges involves

staying up to date with technological advances. Access to
technology specific to manufacturing and other areas of
the business has been testing from the very early days. In
addition, when technology has been installed, certification
and approvals processes often take a long time to come
through – often, by the time this had happened, the
solution in question was already outdated. Story type
#optimisation (main category)
Despite this, NMT continues to commit to sustained #resilience
investment in its workshops, machines, front end engineering,
reverse engineering, and up and coming technology such Benefits
as 3D printing. Key to this has been working with the right • Company reputation maintained through difficult
partners who invest in their clients by sending engineers times.
across the world to provide face-to-face service. • Local production and supply sustained.
The Covid pandemic also hit NMT hard. And while the Key findings
practical difficulties caused by curfews and restrictions of For industry
movements quickly became a key point of difficulty, the • Employ lean manufacturing strategies as much as
company was able to turn the situation into a positive, possible as a means of improving cost effectiveness.
securing contracts over competition from abroad owing • Aim to sustain quality drive in your operations.
to its ability to supply products locally within a few weeks.
For government
Today, although many of these challenges continue to • Encourage in-country manufacturers of goods
rear their heads, NMT still stands strong as a proud local by instituting policies that mandate patronage for
supplier to Nigerian industries. A vital manufacturing hub in-country manufacturing commodities in place of
with 110 hectares of space at its disposal, the company imported equivalent.
will be a go-to partner for many industrial players in the • Review import tariff on steel raw materials
country for years to come. considering the unavailability of raw materials in-
country.
About NMT
NMT at a glance:
NMT is the leading manufacturer of machine tools Key products and services: Manufacture of machine
machine accessories, mechanical spares and after sales tools and accessories.
support provider in West Africa. Its assembly, production
capabilities and plant facilities make NMT the preferred Main industries served:
provider of some of the most complex machinery tools • Oil and gas – 60%
and varied equipment. The company is further engaged in • Others (defence, telecoms, construction,
the manufacture and production of industrial spare parts agrobusiness) – 40%
and fittings for energy and power, defense, and iron and
steel industries; manpower training in various engineering Headquarters: Lagos, Nigeria
and technological fields; and provision of after-sales and Year established: 1980
consultancy services. Number of employees: 101

168 Success stories
Oceanica
Serving the market with Divers of the Future
The solution
Marcia Cristina Dias, Commercial Rather than stand still and watch the business slowly
Coordinator but inevitably dwindle, Oceanica was determined to find
another way to serve Petrobras and the broader oil and
gas market.
How is Oceanica thriving?
In conducting several studies, the company found that the
Faced with a difficult situation where its main client was market was chartering vessels and concluded that it could
seeking to withdraw human diving from its operations, provide support vessels for diving. With financial backing
Oceanica made an important pivot to enter the remotely from Brazil’s National Bank for Economic and Social
operated vehicle (ROV) and diving support vessel Development (BNDES), Oceanica began to construct two
space. A decade on, and that decision appears to have vessels and acquire remote operated vehicles observation
paid dividends with a series of contract wins and asset ROVs capable of going up to 1000 m. Petrobras then
investments helping the company to stand taller than ever launched tenders in the market, a sign that Oceanica had
before on its own two feet. pivoted in the right direction.
The challenge That said, the diving market did not contract as much
as the firm feared. In response, it created a programme
Specialist diving company Oceanica, until 2013, was entitled ‘Divers of the Future’, that provide training
primarily providing services to Brazil’s state-owned for their divers interested in ROV operations. This has
national oil company Petrobras. The business was enabled most of the workforce to remain, with 68%
delivering solid revenues, the work completed by its highly choosing to participate in the new, more flexible setup
experienced team of divers providing the firm with stable which has also seen a large upskilling exercise take place
footing for many years, with some personnel having been to bring traditional divers up to speed with new ROV
on the books for more than three decades. technologies.
However, despite zero fatal incidents occurring By 2014, the company was operational in the ROV space
involving divers during this time, Petrobras started with two vessels and working again on multiple contracts,
to signal safety concerns, and in turn sought to avoid including for Petrobras, covering both service provision
diving. The client asked third-party companies such and vessel chartering. Over the next few years, the
as Oceanica to seek replacements for divers abroad – company not only fulfilled these contract scopes, but also
indeed, it soon became clear that the diving service deepened its focus on ROVs and acquired a further two
would be discontinued. vessels to bring its fleet to four units.

Success stories 169
A fresh round of contract bidding took place in 2018/2019,

with four more contracts being secured for service and
vessel chartering – this has allowed the company to
equip its ROVs with new vessels, such as SDSV shallow
diving support vessels, which are lighter, more robust and
consume less fuel.
Come 2022, with these contracts reaching expiration,

Oceanica decided to finance its own investments into
acquiring the resources needed to secure more work. To
this end, the firm has hired more ROV support vessels
(RSVs) and anchor handling tug supply (AHTS) vessels,
and in 2023 has committed to investing in seven vessels,
five of which they already own. This will enable Oceanica
to fulfil the scope of the contracts it has secured – this
year alone, it has won 14 contracts, half of which relate
to vessels.
A further sign of how far the company has come is its

growth in headcount. In 2018, it had 622 employees on Story type
its books, a workforce which has swarmed to more than #resilience (main category)
2,000 people who work out of three operational bases –
one in Rio das Ostras, and two in Macaé. Benefits
• Significant contracts win.
The future certainly looks bright following the decision • Financial independence.
made a decade ago to adapt with the times. Indeed, as the
company continues to gather momentum through 2023, it Key findings
now has the all-important financial independence it needs For industry
to chart its own course. • Be resilient and well-grounded.
• Surround yourself with good partners and reliable
About Oceanica information.
With more than 45 years of existence, Oceanica develops Oceanica at a glance:

subsea solutions for the offshore energy industry. The Key products and services: Services and technological
Brazilian company acts in prevention, contingency and solutions for companies with underwater activities.
engineering, seeking to mitigate the risk of possible
environmental impacts in clients’ activities and increasing Main industries served:
the useful life of their assets. They offer inspection, repair, • Oil and gas – 100%
intervention, and monitoring services for underwater
and underwater structures. The company also develops Headquarters: Rio de Janeiro, Brazil
complete solutions for customers, creating and optimizing Year established: 1978
engineering resources. Number of employees: +2,000

170 Success stories
Oilfield Offshore
Turning the challenges of Covid-19 into a springboard for success
unable to meet either its customers or its new strategic
international partner that it had become dependent upon
Muhamad Paizal Othman, MD for technical support. With business also dropping, the
firm had to resort to non-oil and gas opportunities in
order to stay afloat, all while tapping into its internal cash
reserves and new funding to survive.
How is Oilfield Offshore thriving?
However, in spite of these challenges, work was taking
Oilfield Offshore, a Malaysian provider of specialised place behind the scenes that would enable the firm to
pipeline inspection services, has overcome the excel once the worst of the pandemic had passed.
uncertainty of pandemic period with incredible resilience.
With extensive investments into its product development The solution
and backed by highly strategic, supportive partnerships,
the firm has achieved accreditation with Petronas – an Faced with lockdowns and the resultant mass disruption,
endorsement that it is tapping into as it now eyes overseas Oilfield Offshores redirected efforts into research and
markets for expansion. product development to enhance cost-effectiveness for
its customers. Critically, this period saw the company
The challenge successfully convince its new overseas partner to transfer
some of its technology – a partnership which soon
Oilfield Offshore’s challenges began before the outbreak became vital.
of Covid-19. Following an internal dispute among
its shareholders, the original business was split into Indeed, winning over the overseas partner in this way
two separate entities, this having been an extremely needed to happen for the firm to move forward with
challenging and taxing process. its product improvement strategy and in turn begin to
approach Petronas as the local NOC. With the overseas
During this time, the company found a new, strong partner’s blessings and partnership, a newly improved
overseas partner and funding from a new shareholder – MTM-G (magnetic gradient tomography method) inspection
partnerships that provided a renewed sense of optimism technology is developed and Oilfield Offshore started to
alongside the organisation’s confidence in its product. make approaches to Petronas. After several demonstrations
Unfortunately, the pandemic complicated matters and meetings, Petronas agreed to adopt its product as part
considerably thereafter. of its official guidelines in inspection activities.
Lockdowns left Oilfield Offshore in a position where it was Not only that, but Oilfield Offshore critically achieved

Success stories 171
Technology Readiness Level 7 (TRL-7), its product having

been verified by Petronas’s technical teams and found to
have acceptable reliability and demonstrate low risk of
early life failure.
This was a key breakthrough for the company. From that

point onwards, MTM-G’s specifications were adopted by
Petronas in its Technical Guidelines documents, ensuring Story type
Oilfield Offshore has consistently been invited by the #technology (main category)
NOC to tender for specialised pipeline inspection jobs. #resilience
This has by no means been an easy journey. While the Benefits

initial company split and pandemic presented several • Revenues tripled between 2021 and 2022.
significant challenges, Oilfield Offshore has also • Extra funds directly reinvested into the further
experienced internal resistance to change. However, product development efforts.
with Petronas’s backing, the firm has enjoyed what
may have been unforeseen (but extremely welcome) Key findings
success. For industry
• Always increase your knowledge, especially in
Today, it is waiting for several project awards in a number communication skills.
of countries in the Middle East, the company well • Learn from listening and observing others.
placed to secure these contracts thanks to the direct • Be humble and introspect to audit yourself. It’s
endorsements having been received from Petronas. And through this that we will be able to maneuver the
it is also now eyeing expansion into other regions around challenges ahead of us.
the world.
Oilfield Offshore at a glance:
Looking back, although the covid period was challenging, Key products and services: Specialised in pipeline
it was also instrumental in propelling the firm forward. inspection, integrity assessment, corrosion and
Indeed, the figures do not lie. Revenues tripled between associated oil and gas business. OOSSB also
2021 and 2022, with many of these extra funds having provides technical advice for other Corrosion and
been directly reinvested into the further product NDT technical aspects. OOSSB has now embarked
development efforts – a strategy that looks like it will only into catering the requirement and compliance for
continue to pay dividends moving forwards. Environmental Consultancy and Industrial Hygiene
Consultancy & Services.
About Oilfield Offshore
Oilfield Offshore Underwriting Limited (OOUL) is a • Oil and gas – 100%
managing general agent which underwrites energy risks
on behalf of several Lloyd’s syndicates and Company Headquarters: Kuala Lumpur, Malaysia
markets. OOUL’s predominant focus is upstream energy Year established: 2011
risks, including onshore and offshore coverages, both Number of employees: 11
operational and construction. Revenue from exports: 40%

172 Success stories
Penspen
Developing an Aberdeen base to grow regional energy capabilities
employee headcount, regional talent attraction and
retention, as well as high client satisfaction levels proofed
by the securing of near 30 new energy projects.
Fraser Ross, Project Manager The challenge

Greg Carnie, Engineer Project Manager – Europe
The oil crisis throughout the 2010s had a significant impact
on both the local economy and the energy industry in
How is Penspen thriving? Aberdeen. As a major hub for the oil and gas industry,
many companies in the region were forced to cut costs,
Leading global energy consultancy company Penspen has downsize or close down operations, resulting in job losses
reactivated its presence in Aberdeen – the UK’s foremost and a slowdown in economic growth.
energy hub and long the backbone of the region’s economy
with its well-established oil and gas infrastructure. After However, the said crisis also generated innovation and
taking the difficult decision to close down the Penspen transformation in the industry, as companies sought new
Aberdeen office in 2017 on the back of the oil crisis that ways to operate more efficiently and sustainably. This in
beset the industry throughout the 2010s, the company turn saw important changes that will continue to shape
is now well underway with the establishment of its new the industry for decades to come such as increased
base. Destined to play a vital part of the business strategy, investment in renewable energy sources.
it will help to grow energy capabilities across the industry,
the region and beyond. For the energy sector in Aberdeen specifically, this means
that operating companies will need to continue innovating
In light of recovering activity in the North Sea and other and adapting to the changing market conditions and
opportunities in the energy market, Penspen opened its fluctuating trends globally. Evident is the significant
new Aberdeen office in 2019, which has since expanded need for transformation as the industry seeks to reduce
to occupy two offices employing over 20 highly skilled its carbon footprint through the development of new
energy experts with extensive experience in the sector. technologies and services focused on offshore wind,
From traditional onshore and offshore projects for oil wave, and tidal energy, as well as the development of
and gas – to first-of-a-kind projects to support the hydrogen production, and Carbon Capture and Storage
energy transition – the regional teams provide consulting, (CCS) technologies. Investing in new technology and
project, and engineering solutions focused on safety, cost infrastructure to meet the demands of a rapidly changing
management, environmental responsibility, and regulatory energy landscape will be crucial.
compliance across the entire asset lifecycle.
The solution
Although it is still relatively early days for the revived
Aberdeen base, the company is experiencing good Penspen has over the past 70 years delivered over 10,000
momentum with measured success such as increased projects across more than 100 countries.

Success stories 173
Pairing the company’s extensive experience in the North

Sea region with the expertise in offshore engineering and
pipeline design, its team of engineers have the knowledge
required to help the energy sector in Aberdeen navigate
industry challenges and balance the need to operate
profitably with the responsibility to operate safely,
sustainably, and in compliance with regulations. Having
access to other project execution centres, such as
London and Newcastle, provide additional engineering
expertise as required to ensure the delivery of best-
in-class industry standards and beneficial solutions to
clients.
As the energy demand intensifies, so too will the need

for skills that can make energy optimisation a must.
Penspen is dedicated to its diverse, highly skilled team,
and is committed to developing career opportunities for
engineers at all levels. By offering attractive employee
benefits such as training and development opportunities,
a multi-disciplinary work environment, and access to
some of the most exciting energy projects in the world, Story type
the company can attract and retain the best talent. As #people & competency (main category)
a result, the employee headcount of the regional team #service & solutions
consisting of both young and seasoned engineers, has
quickly expanded from 3 to 20 with a trajectory of further Benefits
growth during 2023 and beyond. • Setting the foundations for a future company hub in
Aberdeen .
In just a few years, Aberdeen has proven itself as a central • Partnering with industry peers to deliver the
strategic base for Penspen in Europe, one that will see pathway to net zero.
the company continuing to strive and thrive alongside its • Investing in next-generation engineering talents
clients and partners in the region for years to come. alongside experienced team members.
About Penspen Key findings

For industry
Penspen is a global team who designs, maintains, and • Be agile and evolve.
optimises energy infrastructure to improve access to • Make sure you can justify your business actions and
sustainable energy for communities worldwide. The the legacy you leave behind – the actions of today
company helps to meet the world’s evolving energy needs will be remembered forever.
by providing consulting, project, and engineering solutions
across the entire energy asset lifecycle. For government
• Develop consistency and have scientific rigor.
Penspen has been at the forefront of the energy transition
over the past 60 years, delivering more than 10,000 Penspen at a glance:
projects in over 100 countries. By helping countries Key products and services: Global energy
access lower carbon fuels and by extending the useful consultancy services across the entire asset lifecycle:
life of existing energy infrastructure, the company helps engineering, project management, asset integrity,
bring cleaner energy to millions of people in thousands of asset management, digital data management, energy
communities across the Middle East, Africa, Asia, Europe, transition, training and knowledge enhancement.
the UK, and the US.
As a proud member of the Dar Group, a leading, • Oil and gas – 75%
privately-owned professional services group with award- • Renewables and Energy Transition – 25%
winning impact and global reach, Penspen’s clients have
access to multi-disciplinary solutions that deliver social Headquarters: London, UK
and community impact through quality, innovation, Year established: 1954
collaboration, sustainability, and technology. Number of employees: +1,000

174 Success stories
Petronash
Harnessing technology and service diversification to overcome market volatility in
the oil and gas sector
to reposition itself as an engineering solutions company,
a move which has enabled it to diversify into brownfield
Zubair Olarewaju, Global Head of projects across processing, drilling, well testing, coiled
Aftersales & Services tubing, intervention, and production activities.
Though successful, this triggered a broader question.

How is Petronash thriving? Could Petronash reposition its business and grow
organically by leveraging its existing capabilities, or did it
With its core line of business having been subjected to also need to prioritise strategic collaboration with other
the stop-start nature of greenfield oil and gas projects, value driven brands to create a solution-focused service
Petronash made the bold decision to broaden its horizons company?
and offer more to its customers. Leveraging its already
extensive in-house expertise and partnering with a The solution
highly able technology vendor, the company now offers a
smarter approach that enables clients to prolong the life After a painstaking study and series of strategic sessions,
of their assets. Petronash’s leadership opted to pursue a hybrid approach
involving both strands in 2018.
The challenge
Petronash has been investing resources into building out a
Since the turn of the millennium, UAE-based Petronash services-driven business solution. The result has been the
has been helping its clients to maximise the value of their deployment of what it calls a service turnkey contracting
oil and gas assets. A specialist in the design, engineering proposition. A customer-focused model, which centres
and manufacturing of modular wellsite packages, chemical around facilitating the operational and cost efficiency
injection skids and wellhead control panels, the company of customers and partners in major categories: Repair,
has a large-scale setup both in Jebel Ali and in Saudi Rental and Commissioning; Field Service and Brownfield
Arabia, as well as the Indian city of Chennai. Modification; Digital Oilfield Solutions; and CMAS
(Corrosion Monitoring as a Service).
However, like many firms operating in this space, business
fortunes are tied to price volatility which dictate the stop- These offerings are designed to focus on the entire
start nature of oil and gas projects around the world. lifecycle of assets, helping customers to get the best
And with inflationary pressures rising, end users are out of their equipment through repair, revamp, servicing
demanding highly advanced solutions at pre-pandemic and the retrofit of smart monitoring and remote-control
levels of pricing. functionality.
With greenfield projects being susceptible to continued In particular, the firm’s turnkey chemical injection service
price volatility and uncertainty, Petronash has taken strides has been instrumental to the growth of the service division

Success stories 175
of the company, expanding by over 25% in 2022 (and on

track for over 30% growth in 2023). Meanwhile, Petronash
is now collaborating with major NOCs in the region making
end user/operator skids smarter through integration of
remote asset monitoring capability. This solution is agnostic
of the brand or manufacturer of the existing asset.
In terms of collaboration and driving strategic partnership

with reputable and solutions-led organisations across the
value chain, the company has entered into a strategic
partnership with Evinsys to integrate its DOS solution
within its packaged equipment, both as a new build and
aftermarket field upgrade option.
By offering the opportunity to leverage this technology,

Petronash is enabling customers to tap into several Story type
benefits. This includes the ability to gain performance #transformation (main category)
insight across their entire asset, improve ROI, maximise
recovery, optimise production and reduce operational Benefits
costs. • New technologies allow Petronash to build
packages and offer truly smart solutions to
By collaborating with Evinsys’ wellhead IOT automation, customers.
data acquisition and management, smart surveillance and • Collaboration with major NOCs in the region.
analytics, and AI and machine learning solutions, the firm
is able to build packages and offer truly smart solutions Key findings
to customers, offering unparalleled and instantaneous For industry
access to their asset’s performance. • Be agile, goal-driven and not overly rigid.
• Listen to the customers. Build and develop your
The success of the service division lies in the fact that team to be customer-centric and flexible.
the company now takes on more responsibilities, taking
ownership in areas such as pressure management, For government
instrumentation, chemical injection, and testing, the • Continue to create a pro-energy driven policy and
upshot of which is that customers are able to focus more export promoting incentives
on other critical functions within their operations.
Petronash at a glance:
Five years on from the bold decision to develop a new Key products and services: Engineering services,
vertical in 2018, Petronash can now plan ahead with a lump sum turnkey solutions, shutdown maintenance
business that is far less prone to the unpredictability and and brownfield modification services.
volatility of the oil and gas market.
About Petronash • Oil and gas – 80%
Petronash is a global leader in the manufacture of • Others (energy) – 10%
engineered packaged solutions for the Oil & Gas Industry.
Petronash prides itself on owning advanced manufacturing Headquarters: Jebel Ali, UAE
plants in Dubai and Dammam. Investment in state-of-the- Year established: 2000
art machinery and Business process Automation (SAP) Number of employees: +800
has enabled the company to be the market leader in its Revenue: £200m
portfolio of products. Revenue from exports: 50%

176 Success stories
Proeon Systems
Futureproofing with a five-year diversification strategy
As the challenges continued, the entity found itself in a
position where it was facing a significant downturn and
Richard Miller, Managing Director either needed to fix or shrink, with its shareholders opting
to invest and fix.
The solution
How is Proeon Systems thriving?
With the diversification strategy, putting the business back
Automation controls and safety specialist Proeon Systems on track, the company had a successful journey resulting
has emerged from a period of uncertainty and adversity. in Proeon being acquired by a buyer in July 2022. This
By investing in upskilling and leveraging opportunities enabled the business to kick on at pace its diversification
for knowledge transfer wherever possible, the firm strategy.
has successfully added capabilities and a track record
in renewables which enhances its existing portfolio of Here, the ambition was to build on its existing presence
work within the oil and gas market. A transformation and and expertise in the renewables market, with the
diversification strategy that has been half a decade in the overarching goal of achieving a 50/50 revenue split
making, the company is now ready to excel as it enters a between this exciting developing sector and the firm’s
new era. traditional oil and gas portfolio. Specifically, much of the
organisation’s attention was focused on the offshore
The challenge renewables market owing to the readily transferable
skills it had in navigating hazardous, hard to access, harsh
It has been anything but business as usual for Proeon in the environments.
past 18 months. While the firm had historically experienced
steady growth over several years to move from small SME Again, this shift in strategy didn’t entail a simple flick of
status to a much larger enterprise, the company – like many the switch. Proeon had to think differently, leveraging
others – struggled after the 2014 oil crisis. knowledge from others and learning new industry
standards.
Behind the scenes, Proeon began targeting a
diversification strategy from 2019 onwards to try and Whilst it continued to recruit new people, it invested to
address the vulnerabilities it faced from overreliance on upskill its existing team in this new market of interest – a
an increasingly uncertain oil and gas market. However, this process which has taken time and involved support from
transition would not be a quick fix. third-party specialist training providers.

Success stories 177
Indeed, it has been a long and hard road over the Story type
course of the past four years, Proeon having started #diversification (main category)
out with no credibility or track record in the renewables
space. However, the firm began to see the successes Benefits
of its efforts back in 2021 after securing its first major • Estimated 2023 revenues: £8m.
contract win with an offshore wind project based in the • Growth in the renewables sector, with 20% of total
Netherlands. operations being driven by renewables.
Thanks to existing relationships, the enterprise was able to Key findings

proactively present a solution to the client. Further, while For industry
Proeon had no offshore wind credentials, it did have good • Enthusiasm is key, put your heart and soul into it,
critical-application SCADA experience – something that and you will succeed.
the project required with its substations and switchgear • It’s about your people – look after them.
demands.
For government
Resultantly, the company secured the project with a • Keep up the highest standards for control of critical
substantial value at the end of 2021. With this initial and dangerous industries.
foothold, Proeon has kicked on in the years since. • Force transitioning companies to either pay more
While it achieved a milestone revenue of £5m in 2020 tax or to invest responsibly – monitor it.
significantly driven by oil and gas operations, this figure
increased further last year, with 20% having been driven Proeon Systems at a glance:
by renewables. Key products and services: Industrial grade control and
safety solutions, working in complex and critical industries
Moving forward, Proeon anticipates that it will achieve (usually energy and related sectors). Provision of complete
£8m revenues in 2023, half of which is expected to be turnkey systems that are a combination of hardware,
driven by its new renewables-focused portfolio – a goal software, control and functional safety engineering
which would ensure the company hits its overarching coupled with service and support services. Management
diversification targets as initially planned. of projects from concept design, development and
manufacture of complete packages, through to providing
Now benefiting from the successful acquisition and forays support, installation and commissioning.
into the renewables market, the company is undoubtedly
well placed to push on with its diversification and growth Main industries served:
strategy moving forward. • Oil and gas – 75%
About Proeon Systems • Conventional power – 2%
• Others (pharma, chemicals, industrial) – 3%
From its base at the Hethel Engineering Centre on the
outskirts of Norwich, Proeon Systems is an independent Headquarters: Norwich, UK
specialist systems integrator, providing control and safety Year established: 2004
solutions for complex and critical applications in a variety Number of employees: 54
of industry sectors, including: oil & gas, renewable, Revenue: £6m
hydrogen, nuclear and utility industries. Revenue from exports: 30%

178 Success stories
Randridge DMCC
Excelling as a fledgling enterprise through a focus on quality and integrity
Towers district, where the company is based, the subsidiary
was essentially a brand-new startup that was almost
Conan Edwards, an experimental venture. Indeed, many of Randridge’s
Managing Director for RSS European clients had revealed they had opportunities in
the region that the firm would be able to support on with
a local presence.
How is Randridge DMCC thriving?
Launched under the same circumstances as typical
With over 30 years global experience, Randridge Group startup, Randridge DMCC would need to get off the
has taken a fundamental step with its global expansion ground quickly – something not easily achieved with
strategy. Through the successful and profitable launch limited resources.
of Randridge DMCC, the firm has established presence
in Dubai and the wider Middle East region, unlocking The solution
project opportunities while demonstrating the value of
local presence in capitalising on local opportunities – an In terms of the local strategy, Randridge DMCC started
approach it will continue to take moving forward as it out with the aim of finding and providing skilled personnel
looks to grow across Asia and the GCC. for its clients to leverage on key projects in the region,
taking care of all the administrative burdens to ease the
The challenge process and provide peace of mind.
Headquartered in Ireland, Randridge is an established Previously, Randridge had secured some initial contract
name in the oil and gas industry, providing a full range of work but only minor projects. With no personnel in region,
engineering, procurement, fabrication and construction people had to be flown in. However, that all changed
management services for both greenfield development once the company had established a regional base led by
and brownfield modifications. localised staff members in the region.
As the group has begun to eye expansion plans, it launched Here, Randridge DMCC Managing Director Conan
Randridge DMCC in mid-2022 – a new regional subsidiary Edwards led the charge – an experienced individual that
located in the Middle East. already had developed extensive relationships with several
companies across the region and knew the market well.
Named after the Dubai Multi Commodities Centre, a free
trade zone based at the centre of the Jumeirah Lakes While this was a massive help, things weren’t all that

Success stories 179
straightforward, and the subsidiary encountered several

challenges. With DMCC being a branch office and the
broader Randridge Group based in Dublin, it found it
hard to open a local back account in the first instance, for
example.
However, despite some unexpected hurdles, the firm won

business within three months thanks to Edwards’ existing
relationships and strong network of contacts. Since that
time, the division has established itself in the market and
boasts an ever-growing list of clients thanks to a number
of contract successes, this including a major project in
which 45 Dubai-based personnel were provided for a
project in Singapore lasting 15 months.
With all its clients, Randridge DMCC is successfully taking

care of everything from hiring to salary negotiations
and payments, removing any major headaches for the
customer while saving them a great deal of time. Equally,
the company makes itself available seven days a week
to ensure it provides full coverage and market-leading Story type
accessibility for resolving potential issues. #service & solutions (main category)
#people & competency
Looking ahead, Randridge’s successes in Dubai have
provided confidence for the company to repeat the move Benefits
by setting up a local division in Bulgaria, the firm also • Randrige Group’s expansion plans on track.
eyeing potential contracts in Oman and Qatar alongside • Generated £1.5m in revenue in 2022.
other countries. Equally, longer term, it is now planning to
grow across the GCC and Asia with a similar approach to Key findings
market establishment. For industry
• Before doing any business in other regions, go in
Indeed, this venture alone has dramatically expanded person and do your homework.
the wider Randridge Group’s scope, providing it with the • Meet the right people, understand that networking
confidence to more actively target new markets moving is key for business.
forward with a proven approach to expansion.
Randrige DMCC at a glance:
And Randridge DMCC’s activities have also been reflected Key products and services: full range of engineering,
in a promising set of financial figures, the subsidiary having procurement, fabrication, and construction
generated £1.5m in revenue in 2022, with half of this management services for both greenfield development
being secured as profit. and brownfield modifications.
About Randridge DMCC Main industries served:

Randridge is an electrical and instrumentation engineering • Others (electric vehicles) – 10%
and contracting company. Founded in 1993, the company
has rapidly established a reputation as a highly professional Headquarters: Dubai, UAE
and leading-edge supplier of engineering services to the Year established: 2022
worldwide oil & gas, pharmaceutical, power generation, Number of employees: 3
process (manufacturing) and related industries. Revenue: £1.5m

180 Success stories
Reset Energy
Moving into ESG technologies during a ‘diversify or die’ year
occurring alongside Reset’s resurgence in the oil and gas
space. Clients’ access to capital was becoming limited,
while an influx of competition was resulting in the
commoditisation of its traditional offerings – come 2020,
Chris Villegas, CEO and the time had come to ‘diversify or die’.
Steve Scribner, COO
The solution
How is Reset Energy thriving? The diversification strategy began with the establishment
of a survival plan to set out how the company would work,
By recalibrating its business model and turning attentions including a rebalance between what was subcontracted
to energy transition and ESG-relevant technological and carried out in-house.
solutions, Reset Energy has successfully repositioned
itself at just the right time. Today, the company is a A third-party model for manufacturing and assembly
streamlined, responsive, and agile team able to respond to was adopted, Reset partnering with approved fabricators
complex queries and deliver work at speed, a feat which to tap into a labour force at a competitive price, a move
continues to win new clients and secure repeat business. which has allowed it to provide more competitive and
precise pricing to customers.
The challenge
A newly streamlined employee base also required Reset
Having placed itself on the map with its modular equipment to be more strategic in its hiring policy, the major focus
and custom process solutions for the oil and gas sector, now switching to the recruitment of key experts in energy
Reset Energy looked set to enjoy a prolonged and healthy transition, business development and marketing. With its
period of growth before the 2014/15 US shale downturn value proposition changing, it was vital for the company
arrived. to build a team capable of emphasising its newly focused
ability to meet the needs of companies with energy
After riding out the storm, the company was once again transition and ESG challenges.
establishing itself, this time as a balance of plant provider and
custom process solutions provider in the midstream market. Although 2020 and much of 2021 were relatively quiet
With a crucial first customer on board, it had the confidence in terms of work volumes, Reset did secure key projects
to evolve from three individuals operating from home into a that offered it the opportunity to demonstrate its ESG
business of 11 people with 250 years of combined experience value, expand its engineering capabilities and provide new
between them. Come 2018/2019, the company had built up technologies to the industry.
a backlog of 24 projects in multiple stages of execution and
was experiencing record revenue growth. This laid the platform for what has been a very solid period
of recent growth, the securing of a contract on January
However, the ESG and energy transition push was 8, 2022, being a landmark moment that generated more

Success stories 181
revenue than the company turned over in the whole of

the previous year.
The client approached Reset via email in mid-December

2021 following a recommendation from another
customer, asking for a quote for a large hydrogen sulphide
and carbon dioxide removal system for a gas processing
facility in Veracruz, Mexico. Jumping on the opportunity Story type
to enter a new market, the Reset team responded within #resilience (main category)
24 hours, met the client’s senior leadership team in Texas #innovation, #service & solutions
shortly after and signed the contract barely a week into
2022. Following project kick-off, Reset met a very tight Benefits
delivery schedule to help the client fulfil commitments • Over 250% increase in revenues stream.
it had made around gas production, completing the • Reset Energy now assisting larger project sizes.
necessary work in 16 weeks compared to a typical
window of 30-40 weeks for the scope of activities. The Key findings
plant became operational at the beginning of 2023, and For industry
the two parties are now planning to execute a similar • Diversifying into multiple markets is key.
project at another of the client’s sites. • Take advantage of being an expert in a niche
market.
Ventures such as this have enabled Reset to grow its
revenue stream by more than 250% during the past two For government
years, with contract wins and new customer acquisitions • Work more with small businesses to develop new
(nationally and internationally) increasing by more than tech for export. Make applications streamlined.
130%. This includes work in entirely new markets – for • Understand what the makeup of the energy sector
example, a series of hydrogen plant RFQs which the firm will look like in the future – there is misconception
would not have secured prior to undergoing the market around the ease of transition from fossil fuels to
diversification process. Meanwhile, average project size alternative energies.
has also jumped from US$3.5m to US$10m.
Reset Energy at a glance:
Thanks to its changed business model, appetite to explore Key products and services: Design and delivery of
ESG markets and the drive and determination of its highly custom process solutions for the oil & gas, renewables,
experienced team, Reset looks well set on a growth RNG, power generation, and CCUS markets.
journey that looked unlikely a few short years ago.
About Reset Energy • Oil and gas – 50%
Reset Energy is a design and fabrication company • Energy Transition – 20%
with the highest quality standards, able to customise • Renewables (including SAFs, biofuels, and RNG) –
equipment packages for over 100 global customers 10%
in the oil & gas, renewables, RNG, power generation,
and CCUS industries. The company’s experienced and Headquarters: Midland, US
proven team applies their skills in process simulation, Year established: 2013
mechanical design, drafting, logistics, I&E, construction, Number of employees: 23
commissioning and operations. Revenue from exports: 50%

182 Success stories
Restrata
Evolving the way organisations achieve resilience
seeks to give organisations the opportunity to manage
and enhance business resilience end-to-end in line with
Botan Osman, CEO their specific needs.
Indeed, this is a hostile time, with the Russian invasion

of Ukraine already having an enormous impact on
How is Restrata thriving? the worldwide energy market and exposing many
vulnerabilities that companies did not believe they had.
In an increasingly complex world, effective management
of business resilience is not just beneficial, it’s essential. Restrata already had a strong customer base with
However, achieving this becomes harder as an Restrata Platform to help organisations manage sites,
organisation grows and risks emerge. This challenge is people, journeys and coordinate an effective response
further heightened when technology used is fragmented with incident and crisis management. Restrata has
and the goal extends beyond merely maintaining resilience collaborated with and listened to its clients and the wider
to enhancing it. Restrata is responding to the need for market, tooking away several major trends which have
a unified, simple, accurate, connected solution with an underpinned much of the resilienceOS’ development.
operating system for resilience – resilienceOS. These include the reality that many resilience and
security teams are continually stretched for resources and
The challenge struggling to use fragmented arrays of disparate systems,
leaving them exposed to blind spots – a unified operating
Restrata is focused on providing an answer to organisations, system for resilience, ultimately, is what they are seeking.
resilience leaders and heads of departments having to
switch between multiple systems to get and make sense resilienceOS is powered by CoRe (Connected Resilience
of information. Through resilienceOS, designed as the Engine), a smart adaptive system composed of low-code
backbone for organisation-wide resilience, Restrata data ingestion ecosystem, concurrent data location fusion,
provides a single source of truth across safety, security, risk monitoring and impact calculation, smart action,
risk and critical event management, alongside a robust and response centre. This creates an array of modular
integrations ecosystem. Several years of development in capabilities including connected site, unified travel, fused
the making, tested across several clients already, the job risk (independent risk marketplace), mass comms, incident
for the company now is to make a success of the launch and crisis, and the Restrata App.
and prove the resilienceOS category for users up and
down the energy value chain. Connected site enables efficient management of operations,
safety and security by streamlining access control alongside
The solution visitor and contractor management, providing visibility over
people on board, mustering and evacuations, enriched
The volatile events of recent years have strengthened with a supervisor app. Unified travel enhances duty of care
Restrata’s sense of purpose. Through resilienceOS, it across all business travellers and streamlines processes with

Success stories 183
travel request automation, recurring trips management and

scheduling, real-time monitoring, analytics and location
tracking alongside impact event and response case
integration. Fused risk provides access to an independent
risk marketplace and delivers a comprehensive, unified view
across risk events by ingesting multiple risk data sources
and enabling real-time impact calculation, risk alerting and
escalations, travel risk management. Mass comms enables
organisations to send targeted alerts and two-way mass
coms across multiple delivery channels, multi-fold response
options with granular polling functions. Incident and crisis
management enables teams to gain real-time situational
awareness and handle cases, trigger remote responses and
everything in-between, providing separate logs, robust
auditing, real-time dashboards, and reports. The Restrata
App extends duty of care across all employees – from
verified check-ins using integrated system biometrics to Story type
inactivity alerts, built in safety with emergency panic button #innovation (main category)
and comms to easy hardware pairing of BLE panic buttons. #digital
resilienceOS provides a wholistic approach for everything Benefits

and everyone an organisation cares about, every day. It • Staff tripled to develop resilienceOS.
provides organisations with a single source of truth from • Clients and partners secured before product launch,
globe to room and the flexibility to start their journey with with positive initial feedback already.
a prioritised area.
Key findings
To respond to clients’ needs, Restrata tripled its product For industry
and software engineering function within six months during • Energy security and geopolitics should be
2021. The company is now primed to throw everything into considered integral components of the net zero
the launch phase. And although it is difficult to measure agenda. Ignoring the interplay between them could
success early, it has seen some positive signs already. hinder progress towards sustainability goals.
Initial feedback has been very positive for various reasons. For government
Gaining a holistic view and automating the operations • Reconsider the implications of Brexit based on
and risk management has resulted in a better allocation the associated impact across various sectors. A
of resources, increased confidence in acting and making comprehensive review would provide insights into
decisions as well as being able to report to stakeholders in areas for policy adjustments to mitigate growing
real-time, reducing operational costs. Meanwhile, different negative effects and potentially arguments to revert
teams across organisations have expressed an increase in it. Balance the current oil & gas policy better.
productivity, collaboration, control and confidence when
tacking various levels of disruption. Furthermore, Restrata Restrata at a glance:
has also secured clients ahead of launch and is embarking Key products and services: Supply of technology
on a sustainable innovation path that will continue to see to help companies achieve and enhance resilience
the ResilienceOS refined and improve over time. through a unified operating system for resilience, plus
consulting and response services to augment client
·About Restrata operations where needed.
Restrata is evolving the way organisations achieve Main industries served:

resilience through a unified operating system - resilienceOS. • Oil and gas – 70%
resilienceOS is the backbone of organisation-wide • Conventional power/T&D – 15%
resilience, providing a single source of truth across safety, • Renewables – 15%
security, risk & critical event management alongside a
robust integration ecosystem. Through resilienceOS, Headquarters: London, UK
Restrata empowers every industry to achieve and maintain Year established: 2006
optimal levels of preparedness, adaptability, and response Number of employees: 120
in the face of dynamic risks and disruption of any scale. Revenue from exports: 50%

184 Success stories
RevEnergy
Achieving rapid expansion through “empathy selling”
supplement its offering and bring value-added solutions
to its customers. As a new company, RevEnergy saw this
Hazry Hassan, Senior Business strategy centring around the hiring of a combination of
Development Manager experienced professionals and graduates that would be
hungry to learn. For this reason, a strong company culture
was imperative.
How is Rev Energy thriving?
The solution
In a mere half decade, RevEnergy has enjoyed incredible
success. Through a culture of continuous learning, the Hiring the right people was naturally a key priority, with
firm has prioritised the training and development of RevEnergy able to nail this by securing the talents of
its staff that have become industry experts through a seasoned industry experts that were renowned among
cradle to grave approach to operations, quickly building its founders, OEMs and industry peers. Crucially, this
confidence in its customer base surrounding competency injected a significant level of confidence in the company’s
and efficiency. With key client Petronas on its books capabilities from the outset, providing comfort relating to
and revenues growing at an astounding speed, the firm RevEnergy’s competencies to key parties such as investors.
has established a renowned reputation in a short space
of time, underpinned by its unique “empathy selling” In this sense, while the firm wasn’t known in the market at
approach. launch in 2017, it could lean on the personal reputations of its
employees as it got off the ground, successfully convincing
The challenge customers of its capabilities and technical knowhow.
Founded in 2017, Malaysian enterprise RevEnergy To consolidate this reputation, the firm worked tirelessly to
remains a relatively young company. An organisation improve its knowledge base and reputation in its early years.
providing comprehensive solutions for valves, actuators, To achieve this, an internal business culture was implemented
fire protection, sealant and other equipment, it has faced which assigned a single engineer or team to take charge of
two key challenges in its first five years of operation. each project from cradle to grave. With this culture, all its
staff would be exposed to the whole value chain.
To enter and establish itself in the market, it needed
to develop a niche with a reputable brand and proven This also included a focus on ensuring that the company
products – a feat that is easier said than done when starting didn’t lose visibility in any transition from sales to project
from scratch. Critically, it had to register its products with teams. The firm’s leadership were all too used to this
Petronas before finding a way of successfully competing causing efficiency and delivery issues from experience in
with existing players. previous roles, and thus made sure these same challenges
didn’t creep into Rev’s own operations.
Building on this, the firm also recognised it would
need to develop the technical knowledge and skills to The value of this approach has already been proven

Success stories 185
through several successful projects. A contract delivered

for Malaysia Marine and Heavy Engineering Sdn Bhd
(MMHE) stands as a primary example, in which the
engineer involved in the quotation and bidding stage was
also the engineer who oversaw project management,
enabling RevEnergy to successfully deliver for its client
with minimal issues.
In many ways, the firm’s position as a young, agile company

enabled the adoption of this culture. With the enterprise Story type
setting out as something of a blank canvas, it has been able #culture (main category)
to develop a key unique selling point through its “empathy #resilience
selling” approach.
Benefits
In essence, this revolves around ensuring any sale will • Rev Energy offers bespoke support and build client
offer a genuinely valuable solution that solves a customer’s relationships centred around candid conversations
problem, rather than driving revenue regardless of and comfort.
potential outcomes. By building rapport with prospective • Big increase in revenues.
clients and gaining the understanding of their business and
needs, the firm demonstrates genuine interest in offering Key findings
bespoke support and build client relationships centred For industry
around candid conversations and comfort. • Passion for the business, people and the desire to
help others succeed are essential criteria to enable
To achieve this, RevEnergy ensures all its sales staff are the company to grow.
trained to be curious. They are taught to listen diligently and • Help others succeed and create a culture of
clarify any uncertainty to ensure that the prospect’s exact openness that allows the expression of ideas for
demands are understood, while also enabling the company improvement, whilst maintaining strict conformance
to better manage expectations and clarify what is realistic. to the values and objectives of the company.
In this way, Rev can align the best possible solution to match
the needs of its individual customers in any unique situation. For government
• Rev Energy were able to secure the needed
Albeit a young company, RevEnergy has successfully facilities from the financial institutions to run
carved out an esteemed reputation in the market owing its business with the government’s help on a
to its customer-focused approach and commitment to partial guarantee through SJPP, which provided
knowledge building in just half a decade of operations. an alternative solution to collateral requirement
needed to secure the necessary loans. The
The firm’s revenues in 2022 were 17 times greater than government policy on this has been instrumental
in 2018 – testament to its already renowned reputation, on the survival of SME companies such as Rev
established through several successful projects. Among Energy which has made it viable with the necessary
these, the firm secured a major contract with Petronas in fundings gap.
2019, the Malaysian oil and gas major now retained as a
key repeat client after delivering a strong service.
Rev Energy at a glance:
Looking ahead, RevEnergy is now eyeing continual year Key products and services: Comprehensive solutions
over year growth, as well as diversification of its business for valves, actuators, fire protection, sealant and other
portfolio both in terms of contract type and geography equipment.
– goals that should be easily achievable considering its
sizeable success to date. Main industries served:
• Oil and gas - 90%
About Rev Energy • Conventional power – 9%
• Energy Transition (CCUS) – 1%
Rev Energy provides comprehensive solutions for valves,
actuators, fire protection, sealant and other equipment. Headquarters: Shah Alam, Selangor, Malaysia
The company has an abundance of choices in oil and gas, Year established: 2017
refinery, pipeline and chemicals, from the most lavish zero Number of employees: 18
leakage valves to the simplest flame arrestors. Revenue: £6.2m

186 Success stories
Samuel Knight
Diversifying to build resilience
cultivated on strong and clear foundations.
Dan Kerr, Managing Director – Energy Here, the new objective of making the organisation a
100% employee-owned business was highlighted as a
means of creating a culture of greater accountability, while
also improving internal buy-in on key growth strategies.
How is Samuel Knight thriving?
While there is 20% institutional investment in the business
Having survived the pandemic period thanks to an onshore from a silent partner at present, Samuel Knight is aiming to
wind breakthrough in the US, Samuel Knight has sought buy this external party outcome 2024 – a move which will
to build resilience to combat future adversity, diversifying enable it to redistribute those additional shares to its staff
its operations, regions of interest and revenue streams to in support of its improved ownership agenda.
enhance its offering across multiple energy sectors.
At the same time, the company has also been focused
The challenge on adapting and evolving to capitalise on new market
opportunities.
Like many businesses operating in the energy sector, the
pandemic period was a torrid time for Samuel Knight. This diversification and de-risking strategy was a direct
As a market leading recruitment and project manpower consequence of the challenges faced during COVID.
specialist, providing engineering, technical and construction While the firm has continued operations in its traditional
professionals on a permanent, temporary and project basis markets that include renewables, conventional power and
globally, the impacts of social distancing measures and training and development, its successes in onshore wind
national lockdowns on the company were severe. paved the way for it to develop a fully-fledged project
solutions business in the US, as well as working in verticals
Fortunately, Samuel Knight found isolated success with an including solar, battery storage more recently.
onshore wind farm client in the US that, by the company’s
own admission, saved it during this tough time. However, In the case of solar, Samuel Knight has supplied commercial
having emerged from this, the firm quickly sought to put the solar racking solutions provider TerraGen with a team
necessary provisions in place to build resilience in the face of experts comprising project managers, operations
of continuing tough market conditions, ensuring it could not managers, assistant site manager, project engineers, O&M
just survive by thrive in the face of any future adversity. engineers, performance engineer and many other roles,
supporting the company with The Edward Sandbourne
The solution Solar Farm in the Mojave Desert – one of the largest
projects of its kind in the United States.
Having downsized by 25%, the leadership team took
the opportunity to revisit the vision and purpose of the With a total capacity of over 2,200 MW enough to power
business in 2021 to ensure any renewed strategy could be more than 300,000 homes, the project was completed

Success stories 187
in several phases, the specialists supplied by Samuel

Knight having helped these to be carefully planned and
executed.
Additionally, the firm has also moved away from its historical
focus on recruitment and towards a hybrid offering – part
independent service provider, part recruitment partner.
While this undoubtedly helped to consolidate its position

in the US market, Samuel Knight has since taken the same
approach and applied it in Europe, adopting a project service
solution in the Nordic renewables market to great effect in
2022. In the area of conventional power recruitment services,
meanwhile, the company has moved from supplying one or
two supplementary individuals to entire teams.
Indeed, this multi-faceted transition has not come easy.

The firm has had to grow its pool of suitable candidates
significantly while also grappling with cashflow challenges
that were exacerbated by stretched internal headcounts
– this being necessary to deliver its improved client
solutions. Further, it was critical for the firm that these
initiatives remained self-funded, ensuring it did not have Story type
to seek more support from, and lose additional equity to, #diversification (main category)
institutional investors. #resilience
Despite these challenges, however, the successes are Benefits

clear to see. Revenues in 2022 (£20m) exceeded those • Growth on annual revenues.
of 2021 (£13m), 2020 (£17m) and 2019 (£12m), with £5m • New clients wins.
having been derived from US solar last year (up from £2m
in 2021). Additionally, Samuel Knight’s client base has Key findings
grown – having supported approximately 80 active clients For industry
in 2021, this number increased to roughly 130 in 2022. • Have a plan, retain flexibility, but stick to the plan.
• Be open, be innovative and adapt to the market that
Resultantly, the company now stands with a more is forever changing.
diversified and resilient revenue mix, a position that is only
likely to be strengthened moving forward as it rolls out For government
its new ‘tech’ offering that will support all sectors with • Engage with the policies that impact up front. Stop
solutions such as plant efficiency monitoring. kicking the problem down the alley.
With this improved stance in mind, the firm’s 2024 Samuel Knight at a glance:
objectives now seem well within reach. Key products and services: Provider of specialist
technical and engineering manpower.
About Samuel Knight
Samuel Knight Energy is a global recruitment and project • Renewables – 60%
manpower specialist, providing skills and project solutions • Conventional power – 30%
to the energy sectors on a permanent, contract and • Energy Transition – 10%
project basis. The company’s contractor services offering
includes mobilisation of contractors, payroll, immigration, Headquarters: Newcastle, UK
registration, taxation as well as contractor care and Year established: 2014
localisation. SK Energy also provides bespoke skills testing, Number of employees: 70
competency-based interviewing as well as industry and Revenue: £20m
market trend insights. Revenue from exports: 75%

188 Success stories
Score Group
Adapting to deliver tens of millions in sustainability-driven savings for clients
The company knew it needed to adapt, taking a hard look at
how to grow in line with rapidly evolving market demands to
Scott B Will, Business Unit Director improve its presence, margins, and current skillsets.
Europe and Africa
The ultimate goal? To tap into new markets and help clients
to reduce their total emissions, all while growing Score and
How is Score thriving? ensuring the business remained an attractive and prosperous
place for current and future employees to work in.
World class valve management services provider Score
Group has turned a corner after focusing on its emissions The solution
reduction capabilities. Having identified that valves
account for 60-75% of operational leaks, the company In 2021 the firm changed its tack as it shifted focus to
has launched a new Emissions Elimination Program (EEP) supporting emissions reductions through a newly developed
underpinned by a unique four-step process. Score’s service offering. This service is called the Emissions
program delivers major reductions in customers’ total Elimination Program (EEP), which offers a new and unique
carbon footprint, as well as multi-million-pound savings four-stage, end-to-end solution for emissions management.
annually for a wide range of clients throughout the world.
Firstly, they survey with the best available technologies
The challenge and tools (including some of their own in-house developed
equipment) to measure and benchmark emissions at
Like many companies operating in the energy industry, source. Secondly, they then analyse the survey results, to
Score found itself navigating significant turbulence allow them to prioritize and deploy their repair methods
spanning several years, driven by a combination of and technologies, targeting maximum emissions reduction.
price uncertainty, energy transition and covid-imposed Thirdly, Score’s elimination process commences delivering
challenges that had resulted in postponed projects. their repair services, methods and technologies that
measurably mitigate total emissions. Finally, their “closed
As the global drive to reduce Green House Gas (GHG) loop” approach leads into a continuous improvement
emissions accelerated year on year, oil and gas exploration phase, where they seek to engineer out recurring failures.
activities waned. Equally challenging to growth post-
pandemic, the company has suffered at the hands of All work is managed through their unique software
industry skills shortages. solution provided by their digital partner, enabling the
client to monitor the environmental performance of their
At the same time, Score was undergoing its own transition. entire asset and track any / all emissions through to repair.
Having been a family-owned enterprise for almost 40-years,
the firm was acquired by private equity firm SCF Partners. Critically, in recognising that 60% to 75% of emissions come
Score was left facing a tricky predicament, with revenues from valves, as a valve specialist company, Score saw that it
down during the pandemic period, and several staff exiting. could make a massive difference to its clients’ performance.

Success stories 189
While the company had essentially been working to

support emissions reduction for 40 years, it had never
marketed itself in such a way, and therefore repackaged its
offering to demonstrate the prospects and customers the
sustainability impacts that its solutions could deliver.
Score has invested in looking at how it could make better

use of existing skillsets and technology. In doing so, it has
developed an EEP tool kit including its in-house developed
and award-winning acoustic monitoring equipment,
while also working with their digital partner to develop
a bespoke software solution, which will hold and manage
all survey data and provide clients with detailed evidence,
reports and actionable insights.
The company’s focus has changed, with its attention

being turned towards building a sustainable future for
all stakeholders. By expanding its horizons and taking
on new projects, Score has demonstrated the difference
it can make to clients, gaining the confidence to further
invest and grow its EEP service provision.
Story type
The results of this change of tack are striking. Whilst this #sustainability (main category)
new offering remains in its infancy, customers have already #culture, #innovation, #service & solutions
intimated they have been very impressed by Score’s survey
results, and the capabilities and competencies of their newly Benefits
trained in-house emissions elimination technical experts. • Score’s survey results delivered major benefits to
customers.
For one customer, the company surveyed 62 relief valves, • Improvements and optimisations in Score’s offerings
finding that eight were leaking into flare lines. In fixing these, to clients.
the firm reduced the loss of 147 pounds/hour of flared gas,
equating to a £250 saving in lost product per hour, or £2.2m Key findings
annually. For another, Score designed a tailored integrity For industry
clamp to eliminate a highly unique leak. Following the initial • Be adaptable and think outside the box to have
survey, the clamp was designed, tested and installed within more than one product in your portfolio.
five days, with the client benefitting from eliminating the • Changing people’s perceptions and culture can be
release of 18.3 tonnes of methane annually. tough, but it can be the most rewarding outcome.
With tougher legislation in relation to emissions For government

measurement, reporting and management anticipated to • Drive through oil and gas methane partnership
emerge moving forward, Score is working hard to optimise methodology.
and improve its offering that is already delivering major,
measurable benefits for its customers. Between upfront Score Europe at a glance:
works delivering remarkable cost reductions and the Key products and services: Specialist in valves and
organisation’s efforts to continuously monitor and eliminate associated equipment.
emissions and avoid legislative penalties, the value to
customers of its new approach cannot be understated. Main industries served:
About Score Group • Conventional power – 3%
• Others (non-energy) – 8%
Score Group was founded in 1982, by the late Charles Ritchie
as an engineering services provider for valve management, Headquarters: Aberdeenshire, UK
and industrial gas turbines solutions. Today, the company is Year established: 1982
a global market leader in valve management and associated Number of employees: 820
services for the upstream oil and gas industry. The company Revenue: £93m
is now owned by private equity firm SCF Partners. Revenue from exports: 19%

190 Success stories
Servomex
Recentring strategies around sustainability
Recognising the demand prospects in this domain,
Servomex opted to pursue a new direction. It could see
that there was an opportunity to provide more suitable
Mike Proctor, Director of measurement products for carbon capture projects, with
Sustainability and Strategic Projects many existing solutions harbouring issues such as high
Stephen Firth, Product Manager – Strategic Products energy demands or maintenance requirements.
Nevertheless, transitioning was more complex than simply

How is Servomex thriving? making product development tweaks. Many clients insist
on seeing supplier sustainability credentials to ensure the
Gas measurement solutions specialist Servomex has benefits cascade throughout their own supply chains,
successfully realised a strategic overhaul around while Andrew Heath, CEO of Servomex’s holding company
sustainability. From uncovering a range of opportunities for Spectric, had also set targets to achieve net zero across
operational improvements to investing extensively in R&D scopes 1 and 2 by 2030, and scope 3 by 2040.
to better support clients’ energy transition requirements,
the company has futureproofed and established itself as The solution
a market leader.
This overhaul began in late 2021 when Servomex began
These efforts have been recognised and rewarded to properly consider market demands, aiming to identify
with the EcoVadis Sustainability Gold Medal, placing issues it would be naturally placed to support with as a gas
Servomex in the top 7% for sustainability among analysis expert in the future.
hundreds of thousands of companies globally after just
one year. The firm determined that many existing energy and
cement plants won’t be decommissioned and will still
The challenge emit for decades to come. They would therefore need
to be adapted with practical, retrofittable carbon capture
Having started out in process oxygen monitoring more solutions.
than 50 years ago, Servomex has garnered a long-standing
reputation for measuring process gases using cutting edge Serving this market became a strategic imperative for
technologies such as infrared, lasers and sensors. Servomex, the company investing extensively in R&D in
order to develop and deliver a market leading suite of
However, it was becoming apparent to the firm’s leadership solutions. However, at the same time, it also began to
that it would need to align with changing needs. Indeed, optimise its own operations, improving its sustainability
the number of carbon capture (CC) projects the firm was credentials.
being asked to bid on was growing exponentially every
year, with more companies actively leaning into energy All company processes and activities from energy use to
transition. ethics to governance were meticulously analysed. Further,

Success stories 191
intense programmes to reduce the carbon footprint of

its manufacturing processes and logistics networks were
launched, the organisation also redesigning its whole
offering to be more sustainable.
This process was supported by Spectris’s robust ethics

and governance procedures, as well as external experts.
Specialist consultants were looked at the environmental
impacts of all components used in the Servomex’s
products to drive design changes, for example.
Through these efforts, the firm secured the EcoVadis

Sustainability Gold Medal, putting it in the top 7% of
hundreds of thousands of companies. This was achieved
in the space of just one year of efforts, despite it typically
taking companies five years to achieve.
Having also successfully become ISO 14001 accredited and

Investors in People accredited, the firm is demonstrating
sustainability best practice across its own operations, this
serving to benefit both Servomex and its clients. Story type
#energy transition (main category)
The idea that improving sustainability will create a domino #sustainability, #technology
effect of benefits has become the company’s new mantra.
More sustainable solutions will offer lower electricity Benefits
usage, less maintenance requirements and less failures, • Achieved 100% recycling and zero waste to landfill
for example – all desirable characteristics for end users. in its operations.
• Awarded the EcoVadis Sustainability Gold Medal.
Moving forward, the firm is now mapping out its future
product development programme for the next seven Key findings
years, completely realigning it towards sustainability. And For Industry
other incremental steps will be made across the board. • Listen carefully to your clients, not what you
think they want, really listen, because the world is
For instance, it has achieved 100% recycling and zero changing rapidly.
waste to landfill in its operations and implemented smart • Simplify the business and the technology to enable
lighting solutions across its facilities. Also, the company faster growth.
is now planning to have the whole roof of its flagship
warehouse covered in solar panels (spanning three football For government
pitches and costing £3m) by the end of 2023. • Get us back into the European Union.
Having developed a culture of continuous upgrades, Servomex at a glance:

Servomex has been completely transformed in a short Key products and services: Design and manufacture
space of time, serving to dramatically improve its prospects of process gas analysers, and related solutions.
moving forwards.
About Servomex • Oil and gas – 48%
• Conventional Power – 5%
Founded in 1952, Servomex has placed good business • Nuclear Power – 1%
practice as the cornerstone of our business. The company • Others (semi-conductor and industrial gas,
is committed to continuous improvement across all manufacturing) – 46%
aspects of manufacturing and management systems,
from compliance with internationally-recognised business Headquarters: Crowborough, UK
standards to global investment in staff development. Year established: 1952
Servomex’s aim is to instil a positive business culture that Number of employees: 425
empowers staff to engage with stakeholders in a manner Revenue: £85m
that is honest, transparent and trusted the world over. Revenue from exports: 95%

192 Success stories
Shipham Valves
How a 225-year-old business successfully started over
it had lost nearly all its staff, with a distinct lack of internal
knowledge of the business.
Rob Moulds, Managing Director
The solution
Where Wartsila’s acquisition of Shipham Valves’ had not

How is Shipham Valves thriving? worked out as intended, the subsidiary was eventually put
up for sale in January 2020, with Managing Director Rob
Shipham Valves has survived eight years of hardship to Moulds, who had initially joined in July 2018, finding a
emerge stronger than ever. Under new ownership, the buyer in October 2020.
company has invested £4m in manufacturing and R&D,
doubling revenues in 2023, with strong markets, great Resultantly, the company resumed operations as a
teamwork, skills and culture, and a 225-year reputation standalone SME, Moulds having laid much of the
to draw upon. groundwork ahead of the sale to ensure it could embark
on this new chapter in the firm’s extensive journey
The challenge successfully, bringing expertise back in house.
Shipham Valves is one of the longest established, highly The immediate focus post-acquisition centred around re-
trusted and most respected valves manufacturers in the investing to rebuild internal capabilities. Indeed, £3m was
world. Founded all the way back in 1798, the longevity spent on machines, with a further £1m being invested
of the business speaks of its track record, experience and in research and development – significant expenses that
quality of service and solutions. Through time, the firm were made amidst the uncertainty of the pandemic.
has continued to adapt to cater to market needs.
A new ERP system was also installed and the firm’s QMS
However, that is not to say that the company hasn’t faced system redeveloped, various audits being passed to re-
tough times. establish Shipham Valves reputation as a market player
with leading capabilities. Further, all of the company’s
Back in 2012, Flow Group (the former owner of Shipham products had to be standardised once more.
Valves) was acquired by Hamworthy, then Hamworthy
was acquired by Wartsila in late 2012, putting Shipham It was a prolonged and tricky period of rebuilding lasting
Valves in a precarious position. Internal frictions started 18 months in total, the company having to work hard to
to emerge and during 2018 the entire management team repair the reputational damage it had suffered during the
decided to leave the business, compounding internal previous eight years. The company had lost all its approved
conflicts as Wartsila had closed Shipham Valves’ machine vendor lists (AVL) approvals, for example, while it also took
shop and made many of its machinists redundant. two years for it to bring good engineers back on board.
Shipham Valves resultantly found itself in a position where However, having worked hard to iron out a multitude of

Success stories 193
operational and reputational creases, the organisation

has laid the foundations for a new, more prosperous era
moving forward.
In order to bridge the skills gaps it has faced for the longer
term, Shipham Valves has both reinstated its apprenticeship
scheme and partnered with Ron Dearing UTC to gain input
into the priorities for technical training. As a result, it is now
able to provide tailored training to push talented employees
forward into new roles with tailored development
programmes, enabling it to build high performance teams
over the long term with improved talent retention.
The company’s culture has also been revived, driven by

the setting of a clear vision and values that are now at the
centre of everything the organisation does. Specifically,
this approach was set and delivered by Moulds, who
has taken inspiration from Goldman Sachs’ training Story type
programme. #transformation (main category)
#culture, #resilience, #people & competency
Come April 2022, the Shipham Valves machine shop had
become fully operational again, and the company’s order Benefits
book began to grow in tandem. Indeed, having entered • Partnership with Ron Dearing UTC resulted in
2023 with £9m of projects on the horizon, the company is tailored training and development programmes for
now targeting revenues of £17.6m for the year (it already employees.
has £13m booked) – double what it achieved in 2022. • New product ranges spanning the LNG and
hydrogen markets.
Equally, its offering and footprint have begun to
simultaneously expand. Indeed, the company is in the Key findings
process of rolling out new product ranges spanning the For industry
LNG and hydrogen markets as it seeks to participate • Get the right people, with the right attitude.
more actively in net zero opportunities. Further, after
establishing a presence in key export markets including For government
UAE, Singapore, Malaysia, India and UK, the firm opened a • Business is difficult enough already, stop adding
new sales office in Houston and Dubai, with a further site more complexity. Why would people set up a
set to open in Kuala Lumpur, Malaysia, soon. business right now? Make it easier.
Albeit a business 225 years in the making, the company’s Shipham Valves at a glance:
startup mindset which it has adopted over the past two Key products and services: High-quality alloy valves
years has provided reason for optimism. Taking the time for severe service and safety-critical applications
to lay the optimal foundations for its revival, the company involving seawater and other corrosive media.
is now well set to reach even greater heights as it embarks
on this latest, exciting chapter in its ever-expanding story. Main industries served:
About Shipham Valves • Conventional power – 5%
Founded in 1798, Shipham Valves started life as a brass • Others (sea water utilities, marine, desalination, fire
foundry supplying products including brass valves, bells, suppression) – 13%
cocks, gauges and whistles to the shipping industry.
Since the 1930s, Shipham Valves has become one of Headquarters: Brough, UK
the longest established and most trusted and respected Year established: 1798
manufacturers of high-quality alloy valves for severe Number of employees: 80
service and safety-critical applications involving seawater Revenue: £8.2m
and other corrosive media. Revenue from exports: 85%

194 Success stories
Siemens Energy
Supporting the world’s largest renewable-powered LNG facility
become one of the largest and greenest energy projects
the world has seen to date.
Patrice LaPorte, VP Sales
Compression Americas The solution
Located between Squamish and Vancouver, Woodfibre

How is Siemens Energy thriving? LNG is based on a former pulp mill site and, once
operational, will be the world’s greenest LNG export
After years of stop-start progress which delayed the facility.
Woodfibre LNG facility, this highly anticipated project is
finally becoming a reality. Selected as the key compressor, The demand for low-emission Canadian natural gas is
auxiliaries, electrical equipment and expertise partner, high, especially in countries looking to make a transition
Siemens Energy stands ready to support the project and to cleaner energy systems from their current base of coal
make it the greenest of its kind in the world. as a primary fuel source. In order to export Canadian
natural gas to overseas markets it must be cooled to -162
The challenge degrees, and by using renewable hydro-electric power to
fuel this process, the site will become the lowest-emission
Getting a new greenfield LNG project off the ground has LNG export facility globally.
not been a straightforward task in recent years.
Compared to conventional LNG facilities, Woodfibre will
The current energy crisis, triggered by the Russian invasion be able to reduce carbon emissions per tonne of LNG by
of Ukraine, has once again thrown the dynamics of the approximately 86%. In addition, the project will create
sector off balance after the Covid-19 pandemic brought more than 100 jobs and contribute around US$80m in
global economies and industries to a near standstill taxation to the Canadian government every year.
through the course of 2020 and 2021.
Siemens Energy will be playing its part as the project enters
For Siemens Energy, identifying which green energy the construction phase. Siemens Energy’s scope includes
projects to focus on, as well as how to shape their approach providing all the major rotating equipment (including large
to them, has been a highly complex process during this compressors and synchronous motors), connections to
period that has tested the company’s agility and ability to the grid and electrical systems (including variable speed
respond to rapidly changing circumstances. drives and complete power houses).
However, the company’s involvement with Woodfibre The task is complex. Because the site will be powered by
LNG in British Columbia, Canada, is a tremendous piece hydroelectric, Siemens Energy had to carry out several
of business that places it at the heart what promises to analyses with the client to ensure it correctly specified

Success stories 195
all electrical equipment and avoids reliability issues in

operation. Additionally, the reliability of the grid must
impact the operation of the LNG facility. Meanwhile, other
complicating factors include raw material price increases,
current material delivery impacts, CSA requirements
and the remoteness of the site itself, which adds in
extra considerations when it comes to installation and
decommissioning of the facility.
Risk has also been added by the project’s stop-start status

ever since it was initiated in 2017. Financial difficulties
caused delays in these early years, before the Covid-19
pandemic arrived and put the brakes on progress. Finally,
in early 2022, Woodfibre LNG was ready to move forward,
only for the Ukraine crisis to ignite a matter of weeks later.
However, rather than scupper the project, the war in Europe Story type
has highlighted the urgent need for LNG developments #energy transition (main category)
such as this to advance as quickly as possible. #sustainability (main category)
Despite the complex nature of the project and ever- Benefits

changing backdrop against which it is being developed, • Project currently fully under execution.
Siemens Energy secured the contract in March 2022 by • Start-up expected in 2027.
impressing on a number of fronts, including its e-LNG
electrical experience for large motors and drives; complete Key findings
technical support of the EPC and the client during - the For industry
FEED and demonstration phases. Acquiring certification • Don’t believe that technical solutions that are true
has also been no mean feat, especially given the stringent one day will remain true for the rest of your life.
processes adopted by Canadian authorities. • Believe that energy transition can be driven with
gas.
Today, Siemens Energy stands ready to help Woodfibre
LNG into the engineering and construction phases with For government
a view to delivering equipment in 2025. The current • Help companies to get tax incentives and facilitate
schedule will have operational by as soon as 2027. When permitting processes.
it comes online, the facility will have a storage capacity of
250,000 m3 and produce approximately 2.1m tonnes per Siemens Energy at a glance:
year of LNG. Key products and services: Power generation gas
turbines, grid transmission, compression, steam
About Siemens Energy turbines and wind business.
With its portfolio of products, solutions and services, Main industries served:
Siemens Energy covers almost the entire energy value • Oil and gas - 80%
chain – from power generation and transmission to storage. • Energy Transition – 20%
The portfolio includes conventional and renewable energy
technology, such as compressors as well as gas and steam Headquarters: Berlin, Germany
turbines, hybrid power plants operated with hydrogen, Year established: 2020
and power generators and transformers. An estimated Number of employees: 91,000
one-sixth of the electricity generated worldwide is based Revenue: £24bn
on technologies from Siemens Energy. Revenue from exports: 17%

196 Success stories
Smulders
Sticking to its strengths after a setback
to go back to its roots and play to its strengths.
Eric Finé, BD Mgr The solution
In the foundations space, Smulders has long held a

competitive advantage due to the sheer volume of
How is Smulders thriving? projects it has executed in the past – historic experience
that continues to feed into a culture and way of working
Smulders has more than 50 years of experience in the that customers buy in to.
engineering, construction, supply and assembly of steel
constructions. Through its network of coastal yards and Preparedness and proximity are everything. The company
fabrication facilities in the UK and Europe, the company is opts to have supply chains nearby and actively integrate
successfully delivering large orders for some of the region’s into the local community when setting up in a new port or
most important renewable energy developments, all while city, these bases then serving as launchpads from which
refining its methods and learning from its experiences. to invest and grow.
The challenge Planning typically takes 12 months, with 60% of the people
used on a project typically working in the prep stages
Even the most established of businesses are prone alone. This work centres around visualisation using 3D
to shocks and setbacks. Founded in 1979, Belgium- modelling, as well as ensuring the yards are appropriately
based Smulders has built a proud reputation around equipped to fabricate the foundations, and that the supply
the engineering and design, fabrication and delivery of chain is ready to deliver on key materials such as steel.
bottom fixed and floating foundations for offshore wind
turbines, offshore high voltage substations and hydrogen Detailed planning helps to ensure experience from
production platforms, as well as steel constructions for previous projects is not lost, the company constantly
the civil and industrial sector. updating its handbook and procedures that underpin its
approach.
In 2011, the decision was taken to pivot the business
into the provision of jackets, a shift which required a Indeed, since 2011 Smulders has successfully rebuilt its
huge investment in a new fabrication yard. However, the track record, delivering on several projects and journeying
market soon plummeted, leaving Smulders with a hole in on a growth path once again. In the Netherlands, for
its finances and in a crisis situation – the company needed example, it supplied more than 100 units for a single

Success stories 197
project for the first time, the site in question being the
Gemini Wind Park which lies 85 kilometres off the Dutch
coast. Story type
#culture (main category)
Rampion Offshore Wind Farm is another notable #innovation, #optimisation
case study. Comprising 116 turbines on a 70 square
kilometre site located off the Sussex coast in the English Benefits
Channel, the project saw Smulders deliver another 100- • Improved site in Newcastle, with revamped
plus order, the experience of scale gained from Gemini workshops, cranes and access and a new fabrication
proving invaluable. Meanwhile, off the North East coast hall.
of England, the company is in the midst of fulfilling 277 • Increase on revenue, recovering from the 2011
foundation pieces for Dogger Bank, a development which setback.
will be able to power six million homes and promises to be
the largest of its kind in the world. Key findings
For industry
Central to the delivery of further projects is Smulders’ site • Never think you have made it. Look outside and see
in Newcastle, the company investing a further £50m into what has changed. Deal with it immediately.
the facility to improve its workshops, cranes and access, • Stop increasing turbine size, it’s killing the industry!
as well as build a new fabrication hall. The investment
coincides with another important project win that will For government
be largely delivered from the Newcastle yard – in joint • Lift the permitting procedures to UK/European
venture with Sif, Smulders will manufacture 64 transition level.
pieces for the He Dreiht offshore wind project in the • Put all people together to figure out all territories,
German Exclusive Economic Zone (EEZ) of the North Sea. so they can agree on new rule and then move
forward.
From a revenue perspective, the company is also showing
signs it has recovered from the 2011 setback. In 2022, Smulders at a glance:
it turned over €470m, a year-on-year growth of around Key products and services: Engineering and design,
15% driven by orders for larger units and a scale-up of fabrication and delivery of foundations for offshore
orders to supply sub-station foundations. And with plans wind turbines, offshore high voltage substations
to enter the US market being developed, the crisis of a and hydrogen production platforms, as well as steel
decade ago appears to be well and truly left behind. constructions for the civil and industrial sector.
About Smulders Main industries served:

Smulders is an international organisation with more than • Others (civil and industry constructions) – 11%
50 years of experience in the engineering, construction,
supply and assembly of steel constructions. It helps to Headquarters: Arendonk, Belgium
realise unique and challenging projects in offshore wind Year established: 1979
and civil and industry. Smulders is a member of the Eiffage Number of employees: 1,200
Group, a leading figure in the European concessions and Revenue: £404m
public works sector. Revenue from exports: 90%

198 Success stories
STATS Group
Prioritising people to drive forwards its international strategy
expansion also requires the development of a functional
leadership model to support regional delivery teams.
The solution
Derek Smart, Director – QHSE & HR
Leigh Howarth, CEO Although people development has been a priority theme
for the past decade given the continuing importance given
to international growth in activities and associated staff
How is STATS Group thriving? numbers, several recent advancements have turbocharged
staff development efforts and the employee experience in
STATS Group has continued to deliver on its growth the past 2-3 years.
strategy. Key to its ongoing plan is to expand in
international markets, a task which requires sustained Within the context of the pandemic, a strengthened focus
investment in people to ensure its high criticality, high on employee health and wellbeing has been established,
speciality activities are conducted safely and efficiently. a process which has involved upskilling leaders and
managers in the business to equip them to deal with the
The challenge ever-changing needs of STATS Group’s employees.
As market leaders in the supply of pressurised pipeline In terms of staff development, there are several schemes
isolation, hot tapping and plugging services to the global that the group operates. For example, the group has
energy industry, maintaining and building on this position launched a new, enhanced graduate development scheme
requires STATS Group to continue its growth drive in to complement its existing iMechE accredited global
international markets. graduate development scheme, the latter having seen
several of its project and design engineers receiving
This is easier said than done. Growing internationally very chartership status.
niche products and services is a complex undertaking –
much of STATS Group’s work involves conducting safety Meanwhile, a core priority in terms of business continuity
critical activities on live pipelines with the potential revolves around training existing and future leaders via
for severe consequences to people, property and the the leadership development scheme. The programme
environment. matches participants with existing leaders who act as
mentors in support of their development, challenging
To carry out these highly specialised tasks in greater them with development projects and giving them
volumes, the retainment and recruitment of staff in its feedback on performance at regular intervals. The scheme
key operating regions, and ensuring they are competent is underpinned by a series of leadership development
to conduct the work safely, is paramount. Sustainable modules aligned to the standards expected of a STATS

Success stories 199
Group leader and is providing a clear pathway for

employees to contribute to the growth and success of the
business.
Alongside these two programmes is continual personal

development, an ongoing process designed by STATS
Group to ensure its employees are always enhancing
their knowledge and skills, and aligned with the firm’s
performance management cycle which aims to monitor
and improve employee performance relative to core
values and business objectives.
The company’s in-house technical training is central to

these people development initiatives and activities. The
group’s training school, opened in 2014, has obtained
ECITB accreditation – a vital step in demonstrating
training to a recognised independent standard. Such
was the early impression it made, STATS Group won the Story type
ECITB Skills and Training award for SMEs that very year. #people & competence (main category)
Several training layers and systems have been worked #scale up
on since, with the group hiring a dedicated training and
competence manager in 2021. Today, each of STAT’s Benefits
operating regions now has trained trainers and on the job • Delivery of jobs, safely and on time.
assessors, an approach which has contributed significantly • Revenue and EBITDA of £59m and £9m
to its regional expansion plans. respectively (2022).
All of this has made it easier for STATS Group to recruit Key findings
and retain staff, not least by showing staff clear routes For industry
of development throughout the business. The company’s • Plan ahead – niche businesses have to look
model is to develop its staff, even recognising the risk they internally to solve problems.
might leave in the future – if they do leave, they will do so • Ensure competence is core to business strategy and
with a positive experience and lasting impression to take meets standard, risk of failure is too high.
with them. Indeed, some may go on to become future
clients or advocates of the company. For government
• Abandon short-term approach to oil and gas – it’s a
Proof that the approach is working can be seen in the long-term investment and transition market.
numbers. The average years of experience for the business
is 6 years and the average age of employees is 38.5 – STATS Group at a glance:
figures that are testament to the success of its strategy to Key products and services: Supply of pressurised
develop from within. pipeline isolation, hot tapping and plugging services to
the global energy industry.
About STATS Group
STATS Group are market leaders in the supply of • Oil and gas – 100%
pressurised pipeline isolation, hot tapping and plugging
services to the global energy industry. STATS DNV Headquarters: Kintore, UK
type approved isolation tools provide leak-tight double Year established: 1998
block and bleed isolation that enables safe and efficient Number of employees: 340
maintenance and repair of onshore, topsides and subsea Revenue: £59m
pipeline infrastructure. Revenue from exports: 85%

200 Success stories
Tata Steel UK
Supporting energy transition by servicing solar with high quality, British-made steel
to contribute towards the country’s transition to a more
sustainable energy system.
Kamal Rajput, Strategic Business
Development Lead The solution
Solar was quickly identified as a promising avenue to

How is Tata Steel thriving? explore for the steel producer. The UK is currently
working towards a target to install 70GW of ground
As the largest steel producer in the UK, Tata Steel is one of mounted solar by 2035, and with 55GW of that capacity
the country’s most important industrial firms that supplies still to be developed (or 2mn tonnes of steel’s worth), the
major sectors such as infrastructure and construction, opportunity for Tata to enter this space is clear for all to
automotive, packaging and engineering. see.
With the UK government accelerating with its energy While Tata Steel cannot produce the volumes to meet all
transition push, the company is successfully repositioning of this demand, the company is able to position itself as
itself as the steel supplier for renewable energy projects. a steel supplier of extremely high quality with a durable
This is particularly true in the field of solar, where it is product that carries a 25-year warranty. Its hot-dip zinc
already making significant strides towards its ambition to coating is alloyed with aluminium and magnesium, the
service up to 70% of national demand. product is produced in steel coils and is then slit by a
steel service centre into narrower slit widths and then roll
The challenge formed by fabricators who integrate it into ground mount
structures.
Government policy around energy and sustainability has
had a huge impact on large industrial producers such as Significant time and effort have been invested, along with
Tata Steel, with even the smallest of changes having the £1mn in financing, to recruit the necessary skills and build
potential to disrupt strategies and investment plans long up the capabilities needed to serve the UK solar market.
into the future. Now, Tata Steel is able to supply products in various
sizes and tolerances while also providing a competitive
Prior to the launch of the UK’s energy security strategy edge over international competitors on lead times due its
in April 2022, the company was working alongside the location.
government’s 10-point plan to net zero, a framework
which mandated it to diversify and pivot its product This strategy is already starting to pay off. To date,
portfolio by 2030. 10,000 tonnes has been supplied or is on order for solar
farm fabricators, and while this is still a small fraction
This is in spite of the fact that Tata Steel currently provides of the 3mn tonnes of steel it produces each year, the
a very small amount of steel to the UK energy sector, trend is certainly moving in the right direction. Indeed,
creating a situation whereby the firm needed to find ways the company now holds a 15% UK market share for steel

Success stories 201
in the solar sector having started from zero just three

years ago.
Story type
The aim now is to continue building on that momentum. #diversification (main category)
By 2030, Tata Steel is aiming to hold a market share of
somewhere between 60% and 70%, a target which can Benefits
certainly be hit if UK projects are subjected to stricter • The company holds a 15% UK market share for
local content requirements. steel in the solar sector.
• Tata Steel is also exploring the UK’s offshore wind
Alongside the drive into solar, the company is also market.
exploring the UK’s offshore wind market. Tata Steel already
supply structural hollow sections globally for secondary Key findings
structures in the offshore wind sector. However during the For industry
past 12 months it has been developing its own component • Personal and business relationships still count,
offering for floating offshore wind installations, signing an especially for large decisions. It’s people who
cooperation agreement with Renewables UK covering its matter.
plans for the Welsh coast. The agreement involves sharing • Be open minded in decisions you make. Don’t close
knowledge to understand and explore the production of off something if the ‘maths’ don’t work – think
steel components that could be used in high-tech floating longer term growth and value.
wind foundations and turbines for projects in the Celtic
Sea. If successful, it could open an important door for Tata For government
Steel in its bid to widen its involvement in the UK’s energy • Mandate for local content to support the UK
transition journey. manufacturing economy and targets that all net
zero projects must comply to.
Rather than stand still, Tata Steel has proactively engaged
in the country’s ongoing commitment to net zero by 2050, Tata Steel at a glance:
offering the option to procure critical steel products that Key products and services: Metallic coated steel,
can underpin many renewable energy installations on cold-rolled steel, hot-rolled steel, electro-plated steel,
land and at sea. If the UK government commits to local electrical steel.
procurement for these projects, the company is well-
placed to play an even more influential role in the future. Main industries served:
• Oil and gas – 0.3%
About Tata Steel • Nuclear power – 0.1%
• Renewables – 0.1%
Tata Steel is one of Europe’s leading steel producers, with • Others (auto, construction, packaging,
steelmaking in the UK and Netherlands, and manufacturing manufactured goods, lifting and excavating) – 99.5%
plants across Europe. The company supplies high-quality
steel products to the most demanding markets, including Headquarters: London, UK
construction and infrastructure, automotive, packaging Year established: 1901
and engineering. Tata Steel works with customers to Number of employees: 8,000 (UK)
develop new steel products that give them a competitive Revenue: £3.5bn
edge. Revenue from exports: 40%

202 Success stories
TEXO
Much more than a video streaming solution
functionality for industrial users, whereas TEXO’s product

offered features including remote snapshots from a
Pat McKay, Director video stream, live annotation, footage storage and facial
recognition redaction. The ability to live stream from a
bodycam also offered numerous advantages for energy
sector customers, especially around conducting and
How is TEXO thriving? viewing asset inspections remotely.
TEXO believes in innovation. Rather than being content The challenge lay in branding this technology properly,
with the way things are, the Group and its divisions are getting the right messages out to the market, and building
always looking for ways to improve and offer greater value a team that could maximise the product’s potential. Now
to customers. TEXO Technologies already knew that its called ‘Fuse’, this solution was much more than a video
video-streaming platform was a great tool. But the team streaming solution.
felt it had much wider applications across multiple sectors.
In order to tap into that market, the division took the The solution
decision to investigate that growth potential. After listening
to customers, testing the waters with different marketing TEXO built a plan to address these two key challenges:
campaigns, developing a new training programme and Messaging and building a team.
building a portfolio of successful use cases, the business is
gathering financial and reputational momentum. First, the company undertook a major listening exercise.
This involved talking to customers about their own
The challenge challenges in light of the operational changes they
experienced during and after the pandemic period. TEXO
Expanding TEXO’s technologies across several new used the results of these conversations to build a clear
markets presented a range of challenges, the most pressing idea of how Fuse could support these customers to work
of which was creating market awareness. The division, more efficiently, safer and across borders.
established in 2022, had two product lines: a remote
streaming solution; and a data management platform Alongside this, TEXO Technologies developed a series of test
marketing campaigns and carefully tracked their performance.
The original market focus for the technologies relied on The firm examined the success of and response to different
meeting survey, inspection and maintenance needs. However, types of content – for example, using streaming cameras
senior leaders in the business saw an opportunity to rebrand on machinery such as cranes to create a small campaign
both product lines, expand their use cases and demonstrate directed at construction and port services. This revealed
the considerable value they can bring to customers. what messaging was having an impact, helping the team to
focus its efforts and budget in the most productive markets.
The video platform was identified as a gamechanger.
Traditional video streaming solutions offered limited Secondly, the division started to look for the perfect

Success stories 203
balance of expertise to meet its commercial targets. With

a strong management and operational team in place, it was
the technical team that needed expanding – and within a
short time frame so that the business could capitalise on
its opportunities.
To manage this challenge, TEXO Technologies set up its

own Graduate-to-Industry training programme, a means of
fast-tracking new entrants into the business. This has been
extremely successful, and the division is now seeking to roll
out the scheme to other businesses and training providers.
With a focused marketing strategy and a pipeline of
emerging technical talent on stream, TEXO Technologies is
now far better placed to bring Fuse to market.
Story type
Indeed, the company has already had commercial success #digital (main activity)
in the port services market. In Rotterdam, it successfully #innovation, #people & competency
supported the installation of a new 1,500-ton J-Lay tower
onto McDermott International’s newly converted AMAZON Benefits
vessel. Partnering with body camera hardware firm Halo, • TEXO Technologies calculates to turn over
TEXO’s Fuse system was operated live in areas where the £450,000 in 2023.
client did not want to place people due to heavy lift hazards, • ‘Together we are one’ approach enabled £40m in
offering a much safer means of installing the tower. revenues for group.
• Insertion in new market bearing fruits.
Meanwhile, for ORE Catapult, TEXO’s technology has
enabled the annotation of live video footage capture by Key findings
a drone to instruct local technicians working on a wind For industry
turbine. Located 200 miles from the client’s base, this has • Having a passion and drive is great but it’s not
saved considerable time and resource by removing the always enough, you can still push in the wrong
need to transport more people to the site. direction. Listening more and talking less does have
its benefits.
Overall, given the early stage of the business, the signs are • Seriously look at solid technical skills shortages and
extremely encouraging. Having posted healthy but small address them.
returns in 2022, TEXO Technologies is on track to double
its turnover this financial year, with significant returns For government
coming from its bodycam video streaming solutions – a • Support businesses that are taking it upon
clear sign that its newly focused commercial strategy is themselves to address skills training (a fund that
starting to producing a significant return on investment. helps businesses develop training programmes
internally).
About Texo
Texo at a glance:
TEXO is an Aberdeen-based multi-disciplinary industrial Key products and services: One-stop shop with
services company that provides services in the oil and gas, services for the whole asset life cycle: engineering
renewable energy, nuclear energy and marine sectors. The & fabrication, workspace solutions, asset integrity,
company’s team is made up of engineers, constructors, recruitment, port services, livestream and land & aerial
surveyors, designers, creative thinkers, service-givers and surveys.
problem solvers. TEXO offers seven distinct services:
Engineering & Fabrication, Workspace Solutions, Asset Main industries served:
Integrity, Recruitment, Port Services, Livestream and • Oil and gas – 50%
Land & Aerial Surveys. Between them, these services • Renewables – 20%
support customers both onshore and offshore to design • Others (building, utilities, marine) – 30%
and complete essential projects on time and on budget.
TEXO Group won “Young Business of the Year” at the Headquarters: Aberdeen, UK
Courier Business Awards 2019, “Transformation Award” Year established: 2018
at the EIC Awards 2021 and “Business Transformation” at Number of employees: 100
the Scottish Engineering Awards 2022. Revenue: £40m

204 Success stories
TNF Energy
Overcoming eight challenges through key strategic changes
down potential profit margins, and fourthly it faced
the challenge of convincing prospects that its solution
Tengku Faiz Tengku Yusoff, CEO was technically sound and commercial sound as a new
enterprise.
Budgetary constraints and approval durations proved to

How is TNF Energy thriving? be a fifth issue, while the sixth stemmed from the fact that
discussions and proof of concepts required to demonstrate
Despite being founded only five years ago in 2018, TNF is the viability of its solutions were lengthy. The seventh
already making headway as a survey technical support and challenge then related to considering market share and
engineering specialist. With unique expertise in providing untapped opportunities, while the eight surrounded
professional laser scanning and 3D modelling services, the contractor concerns of job opportunities being slashed
firm has successfully completed more than 500 surveys, due to displacement by technology.
mapping, engineering projects and converting asset to
digital twin data. The solution
Having overcome a series of issues through a major change Despite the odds being stacked against it on several
in strategy, the firm is now able to combine its significant different fronts, TNF Energy has continued to preserve,
suite of the latest technologies; laser scanner, UAV, GNSS adapt and evolve in order to iron out client concerns and
& GPS and generate 3D models for clients, accelerating gradually build its reputation as a survey technical support
production and uncovering major cost savings. and engineering specialist in the market.
The challenge In the middle of 2019, the firm embarked on a new market
strategy, implementing a dedicated proof on concept
A company that is just half a decade in the making, TNF (POC) and targeting the operation and maintenance
Energy has had to overcome several challenges as it navigated (O&M) department. In addition, the firm introduced a new
significant uncertainty in the years following its inception. way of working with full visibility that emphasised the high
Broadly, these can be split into eight key categories. accuracy through 3D digital twin technologies.
First, the company found it hard to talent familiar with The latter offered several benefits. With digital twin
key technologies such as PDMS and S3D software, both technologies, TNF Energy can mitigate site reworks,
owing to geographical and budgetary constraints. Second, accelerate production times, reduce downtime and more
the firm also required significant capital to launch as a for its clients.
digitalisation company, investing in key tools such as laser
scanners and software licenses. Critically, Petronas Sabah (SBA) was one of the earliest
beneficiaries of this switch in emphasis, this successful
Thirdly, the firm faced stiff market competition, driving contract paving the way for others to follow suit, providing

Success stories 205
TNF Energy with a proven reputation and significant

market credibility.
Where the company had previously experienced several

points of friction with its clients relating to hook up and
commissioning, prolonged shutdown times, lost injury
time, and the lack of availability from 3D models and
digital twins, it has adapted specifically to mitigate each
and every one of these potential combative challenges.
Today, TNF is now able to combine its significant suite

of tools, including laser scanning, UAV, GNSS and GPS,
to generate the digital twins that can then be converted
into 3D formats with realistic photo image for its clients. Story type
Further, the firm is also developing an artificial intelligence #innovation (main category)
(AI) algorithm for the detection of corrosion, enabling it to #technology
produce accurate inspection, expedite and improvise the
corrosion preventative maintenance reports digitally. Benefits
• Technology suit for technical & non-technical
These changes have been transformative. Indeed, TNF personnel.
is now providing its customers with full visibility into the • Production enhanced and accelerated.
design and construction aspects of projects to improve • 0% LTI, 0% NCR.
alignment, relationships, as well as enhancing its execution • Commercially attractive product and adaptable to
of projects and restoring assets into digital format, make any local market.
it more valuable data to all asset owners. Not only has • 3D digital available 24/7.
production been accelerated, but the change intact has
also provided tremendous cost savings and an expanded Key findings
project schedule with 0% HSE issue and 0% non- For industry
conformance report (NCR). • R&D must be part of the business plan. Small
improvement on innovation can bring big changes
The figures speak for themselves. Where revenues sat at to the company revenue, profitability, and also
RM172,800 (USD$38,740) with a profit margin of 22.9% sustainability.
in 2018, this has growth significantly to RM7,997,329 • Always seek to improve services or products and
(USD$1,792,922) and 59.35% in 2022. The growth also avoid comfort zone attitude.
come along with the increase of manpower resources.
TNF started with only 15 personnel in 2018, and now For government
has more than 100 personnel on the field that are always • Embrace technical, commercial, and local content
ready to serve the industry. criteria when evaluating any tender or development
grant.
Indeed, after a bumpy start, the future looks
unquestionably bright for TNF Energy with a new branch TNF Energy at a glance:
opened in Bangkok, Thailand and Lumut, Brunei. Key products and services: Engineering, laser
scanning, as-building, underground mapping, soil
About TNF Energy investigation, artificial intelligence and digital twin.
TNF Energy is a 100% Bumiputera company, focusing Main industries served:

on its expertise in providing total solution from survey • Oil and gas – 60%
up to engineering services. As a licensed company with • Conventional power – 15%
PETRONAS, and with over 12 years of experiences, TNF • Renewables – 10%
has served most of the mega players in the oil and gas • Others – 15%
industry such as PETRONAS, Shell, ExxonMobil, PTTEP
and has completed more than 500 surveys and mapping, Headquarters: Petaling Jaya, Malaysia
including engineering, oil and gas projects, non-oil and gas Year established: 2018
projects, in and outside Malaysia. Throughout the years, Number of employees: 105
TNF has always focused on striving to be at the top on Revenue: £1.5m
possessing up-to-date technology know how on its field Revenue from exports: 20%

206 Success stories
Triplefast Middle East

Exploring new markets to de-risk from global shocks
components, coatings and pipeline packages to the world’s
energy markets.
Steve Kettle, Vice President
MENA-APAC Up until the middle of the last decade, the company
predominantly served customers in the oil and gas space.
However, when the 2016 price crash hit, the whole value
How is Triplefast Middle East thriving? chain suffered, including essential parts suppliers such as
Triplefast, who suffered from delayed and non-payments
Like many firms entrenched in the oil and gas value as well as a drying up of its pipeline.
chain, Triplefast Middle East faced a challenging period
when the price crisis of 2016 reached its peak. Indeed, A few years later, the Covid pandemic and crisis in Ukraine
that event has triggered what has been a volatile and brought similar instability to the oil and gas market, a
uncertain period ever since, with critical events such as reality which further reinforced the need for the company
the Covid pandemic and Ukraine war adding several layers to turn its attentions to new energy markets.
of complexity and risk.
The solution
However, the decision to pivot towards the clean energy
and energy transition markets has proven invaluable, with Fortunately, Triplefast began exploring energy transition
the company broadening its expertise through a series of opportunities in the aftermath of the 2016 crisis.
acquisitions, which has allowed it to serve both existing
and new clients in their own transition journeys. Indeed, the firm had been able to ride the 2016 and Covid
waves, keeping most of its staff in place – however, the
As a result, Triplefast now stands strong as a US$300m company’s leadership realised it had to properly reposition
organisation with healthy profit margins and an even more the business globally in line with clean energy.
ambitious growth pipeline ahead of it.
This has involved identifying and filling expertise and
The challenge resourcing gaps, as well as localising supply chains to get
closer to customers wherever possible. Acquisitions have
Triplefast Middle East has a long legacy behind it, with been pivotal. A series of purchases have given Triplefast
its origins tracing back to the 1950s. Today, it is part of a larger footprint in key markets such as the UK, Europe,
LoneStar Group, a global manufacturer and supplier of and US, allowing it to fill in some key gaps. As its clients
high-performance fasteners, sealing, precision-engineered began to pivot into renewables, the firm followed suit,

Success stories 207
gradually coming to understand the size and scope of the

market.
During this time, the company has also moved into new
facilities, consolidated some of its departments, uplifted
its manufacturing capability and increased stockholding Story type
to better serve customers. Alongside this, it has recruited #diversification (main category)
experts in the clean energy field who understand where this #resilience
transition would take the company, their added experience
bringing credibility to the new-look Triplefast operation. Benefits
• Diversification plans laid out in 2016 underway.
This is helping the enterprise to secure several • Profit of US$30m recorded in 2022.
longstanding partnerships with large blue-chip clients,
including the likes of Shell and new customers such Key findings
as AirLiquide and AirProducts and Linde. In addition, For industry
customers are responding well to satisfaction surveys, • Gone are the days of simplicity and where size
while staff retention has also been strong since the pivot would allow you to plough on – one must adapt and
towards energy transition markets was made. change but maintain their values.
In terms of revenue, Triplefast is not far away from For government

achieving the 50-50 split between conventional and clean • Help smaller companies – we are not singular as a
energy business that it is seeking, with particular success market or country, access and support are needed,
coming from markets such as Saudi Arabia and Qatar. as we live in a fully global world.
Crucially, profitability is looking extremely healthy Triplefast Middle East at a glance:

compared to a few short years ago, with the US$30m in Key products and services: Global manufacturer
profit recorded in 2022 representing a threefold increase and supplier of high-performance fasteners, sealing,
on 2020 when Covid struck. And looking ahead, the precision engineered components, coatings and
company seeks to expand its horizons even further, both pipeline packages to the world’s energy markets.
organically and through acquisitions.
With the business trending in the right direction, it is • Oil and gas – 55%
safe to say that its decision to diversify in 2016 was an • Renewables – 20%
extremely wise one. • Nuclear power – 10%
About Triplefast Middle East • Others (industrial) – 10%
Founded in 2002, Triplefast Middle East was established to Headquarters: Wednesbury, UK

act as the Group’s manufacturing and supply centre in the Year established: 2002; 1956 (Group)
Middle East. As it is known today, Triplefast Middle East Number of employees: 200; 1,350 (Group)
supplies fasteners, sealing and gaskets to the Gulf, Middle Revenue: £24m
East, Caspian, Indian subcontinent and surrounding areas. Revenue from exports: 80%

208 Success stories
TRS Staffing Solutions

Finding the sweet spot for a bespoke recruitment service
companies to look at the managed service provider
(MSP) model, not least because it could help drive cost
Darren Rowan, Director, Business efficiencies by as much as 5-15% within the first year.
Development
The question for TRS, therefore, was how to manoeuvre
itself to plug the gap.
How is TRS Staffing Solutions thriving?
The solution
While the covid pandemic caused upheaval and hardship
for many companies, it presented TRS Staffing Solutions Indeed, the company has already been providing this type
an opportunity to adapt and reposition itself. Drawing on of solution as a bespoke service to major US companies
a recruitment model it had already successfully deployed since 2017. When the pandemic hit, and amid the market
to several firm in the US, it launched a managed services challenges and movement of people away from the sector,
provider (MSP) division in the form of TRS Workforce TRS’s leadership soon identified a sweet spot for its
Solutions in 2022. Today, it offers bespoke, project- offering within the oil and gas arena.
based services for oil and gas companies seeking to
streamline resourcing costs and plug their knowledge In 2022, it launched a new division under the name of TRS
gaps. Workforce Solutions delivering cost-efficient, compliant
workforce solutions that gives clients visibility and control
The challenge over their talent needs.
The covid pandemic has fundamentally changed the way This typically involves managing the contingent
organisations work. A conduit for change, it brought about worker recruitment program for organisations, along
a shift in mindset between employees and contractors with reporting and tracking, and coordination of the
amid what was also a highly challenging oil and gas market recruitment supply chain and invoice consolidation. For
to operate in. Many people left the industry or shifted complex engineering projects, TRS Workforce Solutions
their careers towards energy transition and sustainability, has developed ONEMSP, a new MSP offering specifically
leading to a situation that left oil and gas firms facing a designed for quick deployment with recruitment solutions
shortage of knowledge and talent within their ranks. aligning to project milestones and contingent worker
attraction and retention.
For TRS Staffing Solutions, part of the Fortune 500 Fluor
Corporation which has 40,000 employees spread around The company also offers services via a recruitment
the world, the covid backdrop presented an opportunity. process solutions (RPO) model. This involves the handling
The changing oil and gas labour market forced many of all or part of a client’s permanent and direct hiring

Success stories 209
needs – as an RPO provider, TRS Workforce Solutions

takes primary responsibility for the entire recruitment
process through a dedicated program manager and direct
sourcing team.
These new service lines compliment the staffing services

TRS already delivers, the difference being that it can now
capture a larger share of the market and drive accelerated Story type
growth. #service & solutions (main category)
#resilience
Another key feature of this strategy is the firm’s targeting
of mid-market clients. Typically, its competitors go after Benefits
enterprise-wide solutions which are big and expensive, • Mid-market clients now under TRS Staffing’s radar.
leaving a gap which TRS is seeking to fill. • New divisions ready to support upcoming projects.
And it is supremely well-positioned to do so. Already Key findings

built around a global presence with local expertise spread For industry
across key markets around the world, TRS can also lean • The company must always be moving forward and
on the knowledge, experience, and reach of its parent keeping up with change.
company Fluor. As an EPC contractor, it houses decades • You must be consultative in solving problems rather
of first-hand knowhow with regard to projects and how than be transactions. This is the way you add value
human resourcing requirements are handled. Indeed, this to your client.
knowledge inspired the development of the ONEMSP
product which provides bespoke solutions to projects TRS Staffing Solutions at a glance:
with their own goals, timelines and deliverables. Key products and services: Recruitment services
covering workforce solution, managed services
Although the division is relatively new, the TRS Workforce programs, recruitment process outsourcing and
Solutions team is already packed with the experience temporary worker supply.
needed to deliver for clients, with its headcount continuing
to grow steadily. Having identified a gap in the market for Main industries served:
an MSP to provide project-based recruitment services, • Oil and gas – 40%
momentum is beginning to build. • Conventional power – 2%
• Nuclear power – 2%
About TRS Staffing Solutions • Renewables – 5%
TRS Staffing Solutions is a world leading engineering • Others (infrastructure, metals and mining, life
recruitment agency specialising in the recruitment and sciences, industrial and manufacturing) – 46%
supply of professional, engineering, technical and field
talent. With 23 offices across the globe, they bring local Headquarters: London, UK
expertise to international markets and have the industry Year established: 1984
knowledge to help match the right candidate to the right Number of employees: 256
role. Revenue: £322m

210 Success stories
TS Electrical
Shoring up the supply chain and moving into new markets to remain competitive
obstacles come and go – however, when the COVID-19
pandemic hit in early 2020, the company found itself
Nathan Chiam, Business Development facing an unprecedented set of challenges.
Manager
Profit margins became squeezed when competitors
moved to slash prices in order to compete for business.
How is TS Electrical thriving? This created a dilemma, whereby TS Electrical knew it
couldn’t compromise on the quality of its products, but
Covid-19, for many industries and sectors, has created also recognised the importance of compensating staff
something of a race to the bottom – competition for fairly in the face of increased competition.
business has intensified, with firms slashing prices in order
to retain market share. The solution
For TS Electrical, this presented a dilemma. While it Several important steps were taken to help the company
recognised the need to do all it could to keep customers remain competitive while not compromising on quality for
on board with affordable prices, it was unwilling to customers and its loyalty to staff.
sacrifice on the quality of product and service delivery
that had enabled it to entrench itself as a market-leading Firstly, it re-examined its supply chain. Knowing it had to
operator over the course of 30 years. However, by be cost-effective to be competitive, TS Electrical looked
making some changes across its supply chain, moving across its entire vendor network and made significant
outside of its comfort zone and making inroads into the changes, negotiating better prices with all suppliers.
oil and gas and energy markets, the company looks to
have emerged from a disruptive and difficult period in The firm has also examined new markets and
better health. partnerships to broaden its horizons. For example,
it took the decision to diversify by moving into new
The challenge lines of business – chiefly, it has started exploring
opportunities in the oil and gas sector and has also
TS Electrical has built up its reputation over three decades pivoted from dealing with predominantly low voltage
by providing high-quality electrical components and businesses to start selling into medium and high voltage
customer service to clients. The company delivers highly products and solutions.
customized power and control solutions to suit the needs
of its clients, which typically have come from food and In regard to the oil and gas sector, becoming an EIC member
drink, edible oil processing, water, healthcare, power has been a key step and opened doors to knowledge and
generation, rail and chemicals sectors across Malaysia and data on the industry that TS Electrical previously lacked.
the ASEAN region. Furthermore, the company’s leadership started to move
outside of their comfort zone, attending several large
During this time, its leadership team had seen many exhibitions in Europe to understand global trends and see

Success stories 211
Story type
#culture (main category)
#resilience
Benefits
what other similar companies are doing or planning. These • Rev Energy offers bespoke support and build client
visits have been influential, opening the firm’s eyes and relationships centred around candid conversations
inspiring it to become more of a part of the global business and comfort.
community. • Big increase in revenues.
Knowing that 2020 was a critical year and that standing still Key findings
was simply not an option, the bold steps taken are starting For industry
to pay off, with new green shoots emerging. Despite the • Passion for the business, people and the desire to
significant set of challenges posed by the pandemic, TS help others succeed are essential criteria to enable
Electrical has been able to weather the storm and emerge the company to grow.
even stronger on the other side. • Help others succeed and create a culture of
openness that allows the expression of ideas for
The company’s commitment to quality, customer service improvement, whilst maintaining strict conformance
and staff satisfaction has helped it to maintain its position to the values and objectives of the company.
as a leader in the industry, these values not being
sacrificed at any stage of its moves to become more cost For government
competitive and diversify into new areas. • Rev Energy were able to secure the needed
facilities from the financial institutions to run
Looking ahead, the aim now is to build more momentum its business with the government’s help on a
and acquire more clients from numerous industries that partial guarantee through SJPP, which provided
operate in the ASEAN region. As the world continues to an alternative solution to collateral requirement
recover from the pandemic and absorbs other economic needed to secure the necessary loans. The
shocks, TS Electrical is poised to build further on its legacy government policy on this has been instrumental
of excellence and innovation for years to come, including on the survival of SME companies such as Rev
in the newly opened up oil and gas space. Other than Energy which has made it viable with the necessary
that, assisting customers to meet their ESG goals through fundings gap.
energy monitoring and electrically driven boiler systems.
Also, digital transformation through operations control
and engineering industrial software. Rev Energy at a glance:
Key products and services: Comprehensive solutions
About TS Electrical for valves, actuators, fire protection, sealant and other
equipment.
TS Electrical design and manufacture low voltage
switchboards and control cabinets with IEC61439-2 & Main industries served:
IEC60529 accreditation and are registered with various • Oil and gas - 90%
Malaysian authority bodies like the Ministry of Finance, • Conventional power – 9%
Ministry of Works and Energy Commission. Their affiliate • Energy Transition (CCUS) – 1%
companies are in the business of industrial automation,
system integration, SCADA, energy management, energy Headquarters: Shah Alam, Selangor, Malaysia
monitoring, software development and developing Year established: 2017
industrial IoT. This allows them to deliver highly customised Number of employees: 18
to-suit solutions for clients Revenue: £6.2m

212 Success stories
Turner & Townsend (UK)

Empowering energy transition projects with a renewed purpose
with clients. At the heart of the challenge is wholescale
change, the management of risk and a deep understanding
Eric Wilson, Senior Vice President, of commercial viability.
Natural Resources
The solution
How is Turner & Townsend thriving? Turner & Townsend’s emphasis on energy transition began
with a strategic pivot back in 2020 to align with global
Turner & Townsend is at the leading-edge of global net zero targets of reaching net zero by 2050. Recognising energy
developments. Its purpose and strategy are focused on and resources infrastructure as a fundamental piece of
imparting positive benefit for clients and society alike and it the puzzle and key hurdle to overcome to support both its
is successfully helping projects and programmes to develop own and industry-wide sustainability aspirations, the firm
and deliver energy transition strategies that are sustainable began to showcase its expertise more actively as a partner
and cost effective, while achieving energy security. capable of accelerating the delivery of such projects.
The challenge Drawing on its global expertise, it invested in a team to

develop a clear and executable solution for the delivery
An independent global consultancy headquartered in of carbon reduction. the company then road tested this
the UK, Turner & Townsend employs more than 10,000 with the launch of its own net zero strategy, built upon
people worldwide through a network of 118 offices in 50 Intergovernmental Panel on Climate Change (IPCC)
countries. Working across the real estate, infrastructure guidance and the Science-Based Target Initiative (SBTi).
and energy and resources industries, it recognised early
the challenge that energy transition presented due to its The drive for change from senior management has been
complexity, pace and scale in an unstable market facing key. The firm’s leadership recognise the responsibility that
increasing supply chain demands. Turner & Townsend has to society and the environment,
placing purpose and people ahead of profit.
The firm is no stranger to challenges, having clients in
many complex programmes around the world. Critically, For Turner & Townsend, a key objective is finding ways to adapt
it’s a company committed to driving and assuring the and impart positive benefit while sustaining current operating
performance of projects and programmes that deliver levels. The company seeks to be an enabler, not an activist, for
successful outcomes. Right now, that means a major focus change – sentiment that’s embodied by its vision to transform
on energy transition. performance for a green, inclusive, and productive world.
Turner & Townsend sees the delivery of energy transition “Turner & Townsend recognises the complexity of low
infrastructure as a key issue of our time – one that carbon solutions and understands there is no one size fits
the organisation is working to help overcome through all approach. Our implementation strategies are shaped to
innovative solution developments and by closely working the specific needs, objectives, and business environments

Success stories 213
of our global clients to deliver cost effective, sustainable

and secure outcomes” says Jason Martin.
Underpinned by four key pillars of productivity,

collaboration, leadership and digital transformation, its
new sustainability-focused strategy has already resulted in
several major and lasting changes. Within the energy and
resources industries, its clients span oil and gas, mining
and metals, clean energy, natural gas, and chemicals.
The merits of its strategic shift are clear in several positive

projects, the first of these centring around the support of
Santos. The Australian energy pioneer had outlined ambitions
to become a net zero business by 2040, providing cleaner
energy and clean fuels that are affordable and sustainable.
To achieve this, Turner & Townsend has been supporting
the company’s decarbonisation efforts with multi-disciplined
services including procurement, contract services, and project
controls including schedule, cost, risk and reporting. The
decarbonisation programme includes operational efficiencies,
electrification and renewables integration, deployment of
carbon capture and storage (CCS) and direct air capture (DAC)
technologies. Turner & Townsend has helped the company to
progress through its stage gate process and meet investment
criteria on several projects.
Elsewhere, the company has supported TenneT, the

transmission system operator in the Netherlands and
North Germany following their concern that the Covid-19
pandemic was impacting fabrication of the transformer
platform topsides needed to connect the energy generated
at the Hollandse Kust Zuid offshore wind farm to land, and
critically, their forecast completion date. Collaborating
with TenneT’s EPCI contractor, it mobilised and led an Story type
independent joint task force comprising planning, project #energy transition (main category)
controls and quantity surveying specialists at the fabrication
site in Dubai, providing assurance that schedule, including Benefits
onshore testing and commissioning, was on track to meet • Thanks to Turner & Townsend’s assistance, major
the project’s Ready For Sail Away (RFSA) date, and all industry players have been supported in journey to
subsequent transportation and installation commitments. net zero.
Turner & Townsend has a proven ability to enable the Turner & Townsend (UK) at a glance:
seamless and successful development of energy and Key products and services: Global consultancy
resources infrastructure in abundance. For companies business in the real estate, infrastructure and natural
looking to follow in similar footsteps and launch or expand resources sectors.
sustainable energy projects moving forward, Turner &
Townsend now stands as a highly capable partner. Main industries served (within natural resources
segment):
About Turner & Townsend • Oil, gas and chemicals – 40%
• Clean energy and decarbonisation – 40%
Turner & Townsend is a global professional services • Mining – 20%
company with over 10,000 people in 50 countries.
Collaborating with clients across real estate, infrastructure Headquarters: Leeds, UK
and natural resources sectors, Turner & Townsend specialise Year established: 1947
in major programmes, programme management, cost and Number of employees: 10,000 (Group)
commercial management, net zero and digital solutions. Revenue: £779m (Group)

214 Success stories
Turner & Townsend (US)

Training the consultancy experts of tomorrow through a ramped up Graduate
Development Program
motivated workforces to the longevity of organisations
the world over, with those finding an answer to the Great
Finlay McLay, Executive Vice Resignation having been able to emerge in the strongest
President, Natural Resources position.
The solution
How is Turner & Townsend thriving?
Central to Turner & Townsend’s workforce futureproofing
Turner & Townsend is looking to the future. Not only is it is its Graduate Development Program.
turbocharging its commitment to be a net zero business
by 2030, but it is also seeking to secure its position as Running for over a decade, its primary purpose is to bring
a global market leading consultant for major projects by more talent into the marketplace by offering graduates
investing in skills. The company plans to do so with its a learning environment that supports them to become a
Graduate Development Program (GDP), an enhanced well-rounded consultant and plot out a career path. Indeed,
structured learning environment that, since 2008, is the programme is designed to be: a platform to enhance
enabling up and coming talent to accelerate their careers. knowledge and gain first-hand experience; a training
Started 12 years ago and refined in numerous ways ever schedule to support and capture learning and development
since, including a formalisation of the scheme in the US, needs and achievements; and a learning tool document to
the initiative has provided significant return on investment track and report the development of capabilities.
for both Turner & Townsend and its client base.
Participants are provided with a development path that
The challenge is not only aligned to the company’s internal competency
frameworks, but also supports professional development
The energy sector is not immune to a cyclical hire and and qualifications, including RICS, APM, CIOB and ICE.
fire culture. The past decade in particular has thrown up Spanning two years, the GDP covers four broad pillars –
peaks and troughs which have forced firms working across project management, controls and performance, cost and
the entire value chain to expand and contract in response commercial management, and data and technology. This
to market conditions. content is backed up by internal mentoring and coaching,
as well as an abundance of opportunities to gain first-hand
For Turner & Townsend, a reliable and robust pipeline exposure to real-life projects (and some of the world’s
of talent is essential to the long-term sustainability and largest organisations). Once complete, graduates can
security of the business. As a revered consultant working take on a full-time role within the business. Crucially, the
across some of the largest infrastructure projects in the programme is open to any graduate and not limited to
world, its value proposition is squarely based around its those with construction-related qualifications, with Turner
human expertise. Furthermore, the pandemic period & Townsend more interested in individuals’ unique qualities
shone a spotlight on the importance of stable and than skills which it knows it can teach through the GDP.

Success stories 215
In the US, the company has spent the past five years
formalising and entrenching the GDP into its setup. This
has involved partnering with major academic institutions
such as Colombia, LSU, A&M, UH, Stanford and Perdue,
with the first rotation taking place in 2019 and now fully in
motion. Today, Turner & Townsend onboards an average
of 50 US-based graduates each year.
Across the board, graduate intake at the firm increased by

50% year-on-year over the past 12 months, with overall
employee headcount rising by 25% during the same period.
Social mobility and offering opportunities to people from

a diverse range of backgrounds has also been a priority
within the expansion of the GDP. The broader goal of
bringing talent into the sector is one of three key aims of
Turner & Townsend’s Making the Difference global fund,
which devotes a percentage of profits to turbocharging
green innovation, growing social mobility and contributing
to international efforts which support the resilience of
communities in need.
Employees are also actively involved in supporting their

communities. As part of the company’s 75th birthday
celebrations, it held its inaugural Global Challenge which Story type
saw one in five colleagues virtually walk, run, swim or #people & competency (main category)
cycle the distance between all its offices worldwide. The #innovation
event raised £75,000 for important causes supported
across numerous regions. Benefits
• High job satisfaction rates among GDP participants.
Alongside investment in people, Turner & Townsend is • Since 2018, over 300 employees are enrolled in
also accelerating the roll-out of NewLeaf, its long-term GDP annually.
commitment to be a net-zero business by 2030. This
has involved sustained investment in green technologies Key findings
across its existing assets and activities and has been For industry
central to new office selection and set-up, as well as how • We must take risks in our careers. Be bold in your
the firm approaches the balance between international solution and dream big.
travel and virtual communication. Meanwhile, the firm’s • Invest in your people and let ideas flow freely
continued push to digitise projects globally will also support throughout your generational work force.
more efficient and ultimately sustainable construction,
engineering and asset management practice. Turner & Townsend at a glance:
Key products and services: Global consultancy
Having emerged from the uncertainties of the pandemic business in the real estate, infrastructure and natural
period with a more diverse and purposeful business, resources sectors.
Turner & Townsend is helping to build a more sustainable,
modern marketplace that has the human capital to thrive Main industries served (within natural resources
in the future. segment):
• Oil, gas and chemicals – 40%
About Turner & Townsend • Clean energy and decarbonisation – 40%
• Mining – 20%
Turner & Townsend is a global professional services
company with over 10,000 people in 50 countries. Headquarters: Leeds, UK.
Collaborating with clients across real estate, infrastructure North America Head Office is in New York.
and natural resources sectors, Turner & Townsend specialise Year established: 1946
in major programmes, programme management, cost and Number of employees: 1,356 (US); 10,000 (Global)
commercial management, net zero and digital solutions. Revenue: US$163.1m

216 Success stories
TÜV SÜD Energietechnik GmbH

Making the most of renewed opportunities in nuclear
The solution
Dr. Lars-Thilo Voss, Business Fortunately for TÜV SÜD ET, February 2022 saw
Line Manager Nuclear Power & the proposed inclusion of specific nuclear and gas
Decommissioning energy activities, under certain conditions, in the list of
environmentally sustainable economic activities covered
by the EU Taxonomy.
How is TÜV SÜD Energietechnik GmbH thriving?
This was a game changer, bringing nuclear back to the fore
Civil nuclear technical safety evaluation services provider as a key pillar in Europe’s efforts to decarbonise. Further,
TÜV SÜD Energietechnik GmbH (TÜV SÜD ET) has while the pandemic made it more complex for TÜV SÜD
benefitted from the huge spur of interest in the nuclear ET to access international markets, the firm found that
market that resulted from the recent EU taxonomy the decommissioning work available in Germany required
changes. With the repositioning of the company and much more effort than had originally anticipated so that
the establishment of a new independent and expert these projects offering great respite during the uncertainty.
advisory service to support the realization of projects, the
company is now maximizing the new opportunities with That said, while the domestic market still bigger than
an improved and diversified business model. originally thought, the company remained behind where
it wanted to be internationally. To explore how this could
The challenge be overcome and a healthier revenue split obtained, it
explored several options, looking at how it could offer
With a history dating back to the 1960s, TÜV SÜD ET has support and training for other companies, governments
a long-established reputation as a formidable player in the and consultants to help them with their nuclear plans.
civil nuclear market in Germany, backed by a demonstrable
track record in assessing and supporting key projects from In this sense, TÜV SÜD ET actively stepped away from
cradle to grave. exclusively inspecting and assessing things to also advising
others.
Come 2011, however, the firm’s home market voted to
shut down all nuclear reactors by the end of 2022. This was an easy transition. The company already had
the expertise in house, and so did not need to build its
The challenge was clear for TÜV SÜD ET: it needed to advisory business from scratch. Instead, its staff were
look towards the export market in order to compensate for simply able to share their knowledge with external parties,
the loss of order volume, yet new build nuclear projects shifting to a mindset of taking an advisory stance on these
around the world had begun to be delayed. At the same new contracts on the one hand, and a reviewing and
time, COVID added additional complications to the mix, controlling stance on the other.
making it more difficult for TÜV SÜD ET to look towards
export markets. To supplement this, TÜV SÜD ET also established a

Success stories 217
dedicated sales team. While this was initially launched in

early 2021 with limited success, the sales team was then
re-established with renewed focus in October 2022.
Of course, it has been a process involving several

challenges. The firm’s overall mindset had to change,
encouraging its professionals talk to people even in
scenarios where they did not have clear answers from the
outset. Its advisors needed to learn to listen and guide
rather than regulate, measure and test as they were used
to. It was a new approach that required new skills. Yet this
learning opportunity was embraced, enabling TÜV SÜD
ET to establish itself in the advisory arena.
Indeed, several key contracts have been secured, the

firm having helped to draft a set of requirements for one
client that was looking to align with both European Utility
Requirements and unique, separate requirements in its
domestic market in planning a nuclear power plant project.
Here, TÜV SÜD ET helped specify exactly what was

needed in order to align with these specific regulatory
demands while also ensuring the project could be as
successful as possible.
Through such projects, the firm is finding its feet in the

advisory capacity, it now specifically focusing on offering
support in three core areas.
First, it is helping companies to bridge the gaps between

old and new approaches, regulations, standards and skills
as the nuclear energy market continues to change rapidly.
Second, for those coming into Europe from outside, it is
helping to provide better understanding in dealing with EU
special regulations, which can be a huge burden to take on
in respect of harmonising codes and standards. And thirdly,
it has been successful in advising to help to build up training Story type
and education systems, working with universities and using #service & solutions (main category)
its expertise to short cut learning processes. This includes #culture
the establishment of a small nuclear training academy.
Benefits
Backed by both this new advisory offering alongside an • Offerings expanded to new areas.
active nuclear market that its traditional expertise can • Key contracts secured.
continue to tap into, TÜV SÜD ET is now able to lean on
strong drivers in new areas of opportunity – a position TÜV SÜD Energietechnik at a glance:
that will set it up for success for many years to come. Key products and services: Technical safety
evaluation services for civil nuclear industry
About TÜV SÜD Energietechnik GmbH
Since 1959, TÜV SÜD Energietechnik is an independent • Nuclear power – 100%
and neutral service provider for assessment, inspection
and advisory services in field of technology, which present Headquarters: Stuttgart, Germany
a high-risk potential, focusing on activities related to the Year established: 1959
safety of nuclear facilities. A one-stop service provider, Number of employees: 203
TÜV SÜD ET supports clients with assessment and Revenue: £29m
advisory services and a comprehensive range of trainings. Revenue from exports: 10%

218 Success stories
UCT Fluid Solutions

Maximising the hydrogen opportunity with a defined automotive market strategy
stood up to a variety of regulatory requirements, and
quickly found that many of its products were readily
compatible with the hydrogen sector.
Liat Pasternak, Product Marketing Manager Given its long-standing reputation, UCT Fluid Solutions
Yehuda Salhov, Senior Director of Marketing doesn’t shy away from opportunities for innovation or
adaptation in accordance with market demands. Indeed,
with many energy companies under pressure to reduce
How is UCT Fluid Solutions thriving? their carbon footprints and adopt more sustainable
practices and solutions, UCT recognises the key role that
With more than a half-century of experience supporting it can play in supporting enterprises in the use of hydrogen
process control applications, UCT Fluid Solutions develops, as a cleaner, greener alternative fuel.
manufactures and distributes high-performance industrial
flow control systems-connectors, fittings and valves for In 2021, a renowned automotive enterprise requested that
gases and liquids. UCT develop specific, custom-made hydrogen solutions,
something the company was unable to deliver at that time.
With a broad portfolio of proven products and decades However, after a strategic rethink in how to approach the
of extensive experience, UCT Fluid Solutions offers its sector, highlighting the potential opportunities available
diverse range of clients a one-stop-shop for hydrogen that could be capitalised upon, UCT found a solution.
applications. Having successfully identified new
opportunities in the automotive sector, UCT has adapted The solution
to serve customers successfully in this segment with an
emphasis on collaboration, quality, and providing custom Once UCT was sure its products could serve the
solutions to support a cleaner future. automotive sector’s needs effectively, it began to cultivate
a go-to-market strategy for the industry. Extensive efforts
The challenge were made to expand awareness of UCT’s products and
potential, from identifying opportunities to implement its
The challenge lay in penetrating new, unknown markets, solutions and aligning with certifications to understanding
with UCT ultimately setting its sights on the automotive client operations, approaches and requirements.
sector to garner new business opportunities.
Many of these efforts have been spearheaded by a newly
UCT Fluid Solutions conducted a strategic portfolio recruited business development manager that has focused
review to see if its existing product line could support solely on the hydrogen market. Having located potential
hydrogen applications, or if adjustments or innovations prospects, roadshows were initially scheduled. However,
would be required to optimise its solutions in accordance these initial efforts proved to be limited in their returns.
with market requirements. Researching several hydrogen
applications and analysing its raw materials to see if they UCT recognised it needed to drill down further and

Success stories 219
understand the specific pain points of its prospects. It

developed a questionnaire that was sent to customers
that opened up collaborative relationships and provided
a forum for key prospective voices to be heard. In turn,
UCT gained a better understanding and appreciation of its
customers’ needs while also building stronger relationships.
Customers soon became more forthcoming in sharing
details about their specific problems, and through detailed
and open discussions, UCT now provides bespoke solutions,
overshadowing its competitors in the process.
The company has also continued to attend key hydrogen

conferences across the globe, further consolidating its
market reputation. UCT has also been able to attract Story type
business by deeply collaborating with key existing #energy transition (main category)
accounts, partnering with them into the hydrogen arena. #diversification, #service & solutions
These relationships have been vital, supporting UCT with
its research efforts and providing valuable feedback that Benefits
has enabled it to refine and improve its offering. • Stronger relationship with customers enabled the
company to provide bespoke solutions.
Key corridors of dialogue don’t just apply to customers • Several new customers and business opportunities.
and prospects. UCT holds bi-monthly training sessions
for its employees, sending out quarterly questionnaires to Key findings
receive important information and feedback about how For industry
these sessions are received resulting in a continuous cycle • Go for it! We need to push to zero emissions.
of improvement can be achieved on all fronts. Everyone is there and you also need to be there.
Start now!
And continually improving is what UCT remains focused on. • Check what you already have, and it may be able to
Between a strong and growing reputation that has initially de adapted for other markets.
opened doors for several new customers and business
opportunities, and an emphasis on building close relationships For government
to develop tailored solutions, the company is already building • If you decide on a regulation, stick with it.
a renowned reputation in the automotive sector.
UCT Fluid Solutions at a glance:
Despite being a relatively new entrant to the automotive Key products and services: Development,
market, UCT has been able to displace its competitors in manufacturing, and distribution of high-performance
several instances as a key hydrogen partner – a positive industrial flow control systems-connectors, fittings,
and proven base on which it can build moving forward and valves for gases and liquids.
as it continues to invest in product development and
certification. Main industries served:
• Oil and gas - 25%
About UCT Fluid Solutions • Conventional power - 5%
UCT Fluid Solutions addresses the demanding requirements • Energy Transition - 15%
of a broad number of industries: semiconductor, power • Others (non-energy: semiconductor) - 50%
generation, chemical, oil and gas, petrochemical and more.
UCT factories are equipped with the latest manufacturing Headquarters: Nof Hagalil, Israel
and inspection technologies enabling precise solutions for Year established: 1950
industry opportunities, and encouraging innovation for Number of employees: 750
the creation of new, advanced components and systems. Revenue from exports: 90%

220 Success stories
Vahterus
Sustaining quality and service excellence in a period of rapid expansion
anticipated, it faced difficulties in meeting its customers’
requirements on price and lead times. And while scaling
Leighton Nicholas, Key Account up in such a short period would be incredibly challenging,
Manager the task was made greater as a result of the strains that
had been placed on critical supply chains by both the
pandemic and Russian invasion of Ukraine.
How is Vahterus thriving?
The solution
In the face of a rapid rise in demand for its products across
all core sectors and regions, Vahterus has been successful Vahterus had to quickly adapt to respond to this rapid
in overcoming key challenges including skills shortages and and extensive growth and continue to meet customer
supply chain issues to maximize market opportunities. Thanks requirements while maintaining its core values on quality.
to savvy investments in facilities expansion, R&D scaleup The main challenges the firm encountered were in
and US collaboration, the firm has sustained its emphasis on expanding its manufacturing capacity to meet the global
delivering premium solutions to customers while doubling its demands for its product, the company opting to further
order intake to €100m in the space of two short years. develop its local manufacturing facilities and assembly
capabilities to support its key business regions.
The challenge
Here, the decision was taken to extend its core facilities
Plate and shell heat exchanger technology specialist in Finland and in mid-2021, the company successfully
Vahterus entered 2021 in an extremely positive position. doubled its plate pack assembly production capacity with
The firm had begun to experience exceptional demand a new 3,000m² production facility, Vahterus’ biggest
for its products, with its sales in all sectors across EMEA, expansion yet. With the building now complete, the
APAC and America having achieved unprecedented manufacturing machinery is expected to be in place by
growth. The firm’s order book was filling up at a dramatic the end of March that will compromise of critical robotics
rate, driven by recent forays into the LNG, heat pumps solutions which will serve to improve factory performance.
and hydrogen markets.
Alongside this, the firm eyed expansion overseas. Having
This was of course positive. However, such high level of opened its first assembly facility in China for the Asian
growth needs careful management, and it presented several market with great success 10 years ago, the decision was
challenges. Owing to its partnership approach of working taken to replicate that very same model in the US. This
with customers to develop bespoke solutions that meet process started at the end of 2021 when the company
specific needs, the firm was accepting orders that did not acquired US-based manufacturing entity Harliss Specialties
immediately have the answers to – particularly as it had to support its supply chain capabilities in North America
begun operating in new markets involving new technologies. and decrease the delivery times in the region. With the
newly improved manufacturing headquarters in Finland
As it experienced higher growth than it had ever providing the foundation for the business, Vahterus also

Success stories 221
successfully enhanced its regional footprint with its own

US-based facilities.
Enhancing its square feet in manufacturing was only part

of the puzzle, equally, the company’s headcount also had to
be expanded appropriately. This was no easy task. Indeed,
the firm needed to quickly acquire many more highly skilled
individuals with specific expertise in R&D, welding and
manufacturing – a task that was made difficult in current
markets with high employment rates. Any new welders also
had to be vetted, tested and assured – a process which
can take 3-4 months. However, in successfully persuading Story type
many overseas experts to relocate and join the company, #scale up (main category)
Vahterus successfully raised its headcount from 350 at the #collaboration, #diversification
start of 2021 to 450 just two years later.
Benefits
This rapid expansion has been a taxing process, demanding • Biggest expansion yet: new 3,000m² production
long hours from its R&D, project and manufacturing teams facility.
to meet the demand of new technologies, and requiring • Reached €100m barrier in order intake in 2022.
the training of 100 new employees over a sustained
period of months. However, the firm has ultimately been Key findings
extremely successful. For industry
• Follow your dreams – you can start your own
Not only has it seen its turnover explode but it has been business in your garage (as CEO did in Vahterus).
able to sustain its core values focused on people, quality, • Don’t rely on your legacy equipment to survive just
service and delivery, whilst continuing to provide a tailored hiking prices – keep investing through the tough
approach to its customers and successfully establishing times as well or instead.
itself in its new core markets of LNG, heat pumps and
hydrogen. For government
• Keep the investment flowing consistently to keep
Vahterus has achieved an incredible amount in such a people in employment and investors committed to
short space of time and is now looking on continuing the deliver on net zero.
growth and development into 2023, better and stronger
than before. Vahterus at a glance:
Key products and services: Market leader in custom-
About Vahterus made plate & shell heat exchanger solutions.
Established in 1990, Vahterus is a Finnish family business Main industries served:

focused on sustainable heat exchanger solutions. The main • Oil and gas – 15%
drive was to invent a new type of heat exchanger, combining • Conventional power – 10%
the benefits of the shell and tube heat exchanger and the • Energy Transition – 5%
plate exchanger, and Plate & Shell Heat Exchanger (PSHE) • Others (refrigeration, heat pumps, pharmaceutical,
technology was born. The PSHE heat exchanger is utilised chemicals and process) – 70%
in various demanding processes in the oil and gas, chemical
and process, energy and refrigeration industries worldwide. Headquarters: Kalanti, Finland
Vahterus currently employs more than 450 people globally, Year established: 1990
with headquarters and manufacturing facilities in Finland Number of employees: 450
and subsidiaries in the UK, Germany, China and the US, and Revenue: £84.9m
a global network of more than 50 distributors. Revenue from exports: 95%

222 Success stories
Venterra
Building a business to support the growth of offshore wind and its role in energy
transition
OEMs and Tier 1 contractors, and the multitude of small
enterprises with project-enabling capabilities are often
Rob Jewkes, CEO undercapitalised and struggle to hold their own in the
contracting chain.
Recognising this problem, Venterra was formed in 2021 to

How is Venterra thriving? bring together specialist businesses and group them into
coherent, joined-up packages that serve market needs
A new entrant to the renewables market, Venterra is on across the major phases of offshore wind developments
a mission to build a leading services business to support – a cradle to grave partner that can manage and mitigate
the offshore wind sector as its influence on the net zero risk, and not resort to pushing liabilities down the supply
journey grows. Through acquiring and partnering with chain to smaller contractors. To achieve this, the industry
technology-led companies that are leaders in their fields, needs strongly capitalised specialists with management
and adding its management support and finance to fuel support to help them accelerate and meet this urgent
their expansion, the firm is turning itself into a go-to demand.
provider of various skills, solutions and services.
The solution
And its approach is clearly working. After doubling revenue
and headcount in its second year through a ramp up of This is, ultimately, why Venterra was set up by Executive
acquisition activity, Venterra is now on track to repeat this Chairman, Ayman Asfari and CEO Rob Jewkes, with
achievement in 2023, and accelerate the much needed colleagues and a consortium of other stakeholders.
consolidation of the offshore wind supply chain.
The original analysis and business proposition was
The challenge carried out in February 2021, with the company officially
launching later in the year in October with three member
If global targets around the installation of offshore wind companies on its books.
capacity are going to be met, numerous shackles need to
be removed in order to make progress easier. So far it has To date, its strategy has revolved around four major
taken two decades to install around 55GW worldwide, priorities, the first of which being to find companies that fit
about one seventh of the 380GW that is needed by 2030 with each other and can offer something more significant
according to the Global Wind Energy Council (GWEC). and valuable together than they otherwise would by
remaining independent. The second pillar is about
A major hurdle is a highly constrained and fragmented matching member companies with the right functional
supply chain that the offshore wind sector is reliant upon support to maximise their potential, a process which
for projects to be developed and delivered. The offshore involves corporate Governance, ISO Certification, HR,
wind delivery model is dominated by very large developers, Marketing and Business Development support as well as –

Success stories 223
foremost - working on a common safety culture. The third

focus is on creating a board and governance structure that
facilities growth at pace by being able to raise capital at
the right time and operate as a public company. The final
strand concerns positioning Venterra as a provider of both
discrete and joined-up services that can help to accelerate
offshore wind development by minimising the number of
interfaces and streamlining procurement processes.
These strategic priorities have been implemented in

parallel since day one. Much has hinged on finding the best
capabilities to join the effort, and then onboarding member
companies successfully ensuring that each member
companies’ unique success factors are protected, and Story type
this has required Venterra to take them on their journey #culture (main category)
in the truest possible sense. For instance, Venterra has #collaboration, #scale up, #service & solutions
established functional working groups, with representation
from each member firm, across HSSE and compliance, Benefits
finance and systems, business development and marketing, • Revenues doubled to £104m in 2022, with
building a culture around people and workplace safety. company expecting to increase revenues
substantially again in 2023.
Five further companies were added in 2022, the cohort • Headcount reached 500 (800 expected in 2023).
of eight now growing strongly thanks to a strong focus on
organic growth and revenue synergies between entities. Key findings
Indeed, 2022 saw overall group revenues double, with For industry
headcount increasing to 500. By the end of this year, • Get a training and qualification in engineering –
Venterra’s existing companies are forecast to turn over there are so many ways you can contribute to the
£120m and expand to over 800 people, with further energy transition.
growth planned from new acquisitions. • Build a partnership between developers and
the supply chain. There is no other way for the
Although the start has been impressive, the company’s industry to fulfil its potential.
leadership still have their feet fixed to the ground. Venterra
remains a start-up in the nascent stages of its journey, and For government
in the coming period the plan very much is to continue this • Allow shorter permitting and consenting times and
growth trajectory with the ultimate aim of becoming the a more sustainable auction price which recognises
premier services and solutions provider to the offshore bottom-up costs.
wind sector. • Develop a more strategic regulatory approach that
brings together the skills, capacity and functions
And with end markets growing at compound rates of up to of disparate bodies in offshore development (i.e. a
20%, the opportunities ahead appear to have no bounds. more centralised body/regulator).
The large and established developers, while housing huge
resources of their own, still require specialist technical Venterra at a glance:
expertise, while new entrants such as infrastructure investors Key products and services: Support services across
with limited in-house capacities require immediate services the engineering, construction and operation phases of
and solutions to meet their needs. Venterra is placing itself projects.
into a position to take advantage of both dynamics.
About Venterra • Oil and gas – 9%
• Renewables/Energy Transition – 89%
Venterra helps the world’s energy transition through wind • Others – 2%
power. As the world decarbonises, demand for renewable
energy, especially wind power, is soaring. Venterra is Headquarters: London, UK
building a best-in-class services company to meet this Year established: 2021
demand by acquiring and integrating select companies in Number of employees: 500
the sector, adding its management expertise and capital Revenue: £104m
to fuel expansion. Revenue from exports: 70%

224 Success stories
Venture Services
Streamlining PRO services to make doing business in the UAE easier
ensure its clients remain compliant across a range of areas
– this includes public relations, with PRO services among
Mohammed Malayampalli, the most important line of business.
Finance & Compliance Manager
PROs are important to doing business in the UAE. As
government certified professionals, they are responsible
How is Venture Services thriving? for establishing a channel of communication between
businesses and the government and carry a wide remit
UAE-based Venture Services continues to provide valuable of duties covering legal compliance, HR, admin and more.
consultancy to homegrown and overseas companies Overall, they serve as a crucial management function that
looking to establish themselves in the country. establishes and maintains mutually beneficial relationships
between the company and the public, on whom its success
As well as providing support on business setup, market and failure depend.
entry, human resources and corporate sponsorship, the
firm offers public relations officers (PRO) management in The solution
a way that challenges the status quo and streamlines the
traditional model. Thanks to its digital approach, it has been Venture has set about streamlining and digitising PRO
able to solve numerous PRO related challenges for clients, services to the benefit of its clients in the energy sector.
helping them to make key productivity improvements.
Indeed, the company has sought to overcome the one-man
Since its foundation in 2009 as a spin-off of parent company show of public relations by introducing D-PRO ERP, an
Al Yaseah & Khalid Alqubaisi Investment, Venture has exclusive software for PRO activities. This digital offering,
advised more than 60 companies in the energy sector on first launched in 2015 and continually enhanced ever
matters spanning market entry, mergers and acquisitions, since, helps to reduce the communications gap by giving
interim management, and operations. And as word of more transparency through multiple points of contact and
mouth gathers momentum, the firm’s client base is rapidly clearly identifiable steps (features which are not in place
expanding, last year increasing by 25%. with traditional offerings).
The challenge Essentially, Venture is making it easier for firms to access

essential and highly sought after PRO services in a way
Whether in the UAE or any other global market, businesses that is cost effective and efficient.
face many challenges as market demands change and new
regulations and directives are published by governing The impact this has had can be told through several
authorities. success stories with clients. For instance, in 2018 Venture
supported an oil and gas company as it took over a
For Venture Services, the ongoing challenge is to stay multinational project. Following continued absence, the
abreast of these dynamics so it is best positioned to PRO eventually resigned and left behind incomplete work

Success stories 225
which threatened to derail the development, with Venture

stepping in to solve the challenges. Within a couple of
weeks, the company provided a fully-digitalised platform
that has reduced PRO workload and expense by around
35% per month.
This reflects a similar situation faced in 2015, when a

client saw its PRO depart without informing the relevant
authorities, a situation which led to the company being
confronted with a huge compliance burden due to the
multinational makeup of its workforce. Facing heavy
fines and delays to important projects, Venture Services
stepped in to provide cost-effective answers, including
the deployment of a local employment arrangement.
Specialist Services remains a regular customer to this day.
In 2019, another oil and gas field company was faced with
an emergency when its PRO failed to arrive on site after
repeated attempts to make contact. On this occasion, the Story type
firm outsourced the physical PRO work to Venture Plus and #digital (main category)
its dedicated human PRO team. Working in tandem with
its digital capabilities, Venture provided services both on- Benefits
site and within the client organisation, a key step being to • Several success stories with clients.
reduce the amount a PRO needs to be physically present. • Good reputation as a PRO problem solver.
These examples all contribute to a track record that Key findings

is helping Venture to build a solid reputation as a PRO For industry
problem solver. It was ahead of its time in 2015 when • Implement new technology to improve your
it launched D-PRO, and with the UAE government now business.
favouring a more digitised approach to public relations,
the company is supremely well positioned to support Venture Services at a glance:
organisations in the energy sector that seek to do business Key products and services: Corporate sponsorship,
in the country. business set up, market entry consultancy services,
public relations services and human resources
About Venture Services services.
Venture Services is the centralised management and Main industries served:

shared service centre for the AL Yaseah Group of • Oil and gas – 56%
Companies. Currently they are extending these services • Renewables – 16%
to outside firms established in the UAE and companies • Nuclear power – 8%
who are keen to open market in UAE. Their objective is to • Others (Fintech sector, retail sector) – 20%
offer an exceptional level of service facilitating company
formation in UAE and offering a broad range of legal, Year established: 2008
financial and business services for business operation and Number of employees: 19
sales outsourcing. Revenue: £1.4m

226 Success stories
VOOVIO
Striving to become a supplier of choice
While it has largely been successful in this regard, building

reputations with established and reputable firms at speed,
Ahmed Alaa, Sales Director MENA its current challenge is to build upon this. For VOOVIO, the
goal is to become the solution of choice for any company
that has a challenge with operator skills development in
the energy industry.
How is VOOVIO thriving?
The solution
Having entered the energy market little over a half
decade ago, VOOVIO is already garnering a reputation for Realising the gap in the energy sector for such a solution
excellence as a provider of market-leading digital support has been key for VOOVIO, the firm already establishing
solutions for field operators in the mid and downstream itself in the market through several different avenues.
segments. It has already amassed positive client feedback,
seen its sales pipeline grow fivefold and its global revenue Trade shows have proven vital to increasing its exposure.
double – now, the firm is well placed to drive towards its Having identified several key exhibitions, the firm has been
goal of becoming a supplier of choice in the energy industry. able to conduct 10-minute product demos to customers
and prospects in real-time, helping to showcase its
The challenge solution, improve understanding and demonstrate its
value.
Launched in 2008, VOOVIO’s technology (recognised
by Gartner) is a 24/7 virtual subject matter expert, using Much of the company’s focus has been on targeting
digital replicas and simulators to enable the process organisations operating in the mid and downstream,
industry to onboard operators more efficiently, reduce such as refinery and petrochemical manufacturers, and
downtime, increase productivity and ensure competency particularly those in the Middle East and North Africa
faster than ever before. (MENA) region where it launched four years ago. This
was deemed to be a low-risk market, the firm seeing
The technology was originally developed for various value in position itself in the KSA and UAE having already
applications, but a gap in the energy sector was identified, established a strong client base in the US and Europe.
repurposing VOOVIO to create a cost-effective, supportive
guiding tool for field operators that is accessible via an In working with new customers, VOOVIO has served to
easy-to-use web-based platform. replace traditional technologies and approaches that have
been more manually driven and delivered in the field with its
Like any disruptive and innovative technology, the firm’s innovative, digital solution that can provide field operators
primary challenge in its infancy has been demonstrating with key learnings and insights prior to entering the field.
the value of its product to the market and finding early
adopters willing to implement the solution. The firm has also supported one company which had a new

Success stories 227
facility in which risk needed to be minimised across the

board from the outset. By adopting VOOVIO’s solution,
the client has been able to achieve higher standards of
operation underpinned by human error reductions, higher
competency levels, and 50% reductions in onboarding
time.
For VOOVIO, the plan is to now build on these successes

and leverage its increasingly proven track record to
expand its customer base both in the MENA region and
beyond. Story type
#digital (main category)
Not only is it already in advanced discussions with several #innovation
potential new clients, but the company also continues
to receive positive feedback, providing significant cost Benefits
savings to blue chip clients with its technology. • VOOVIO’s global revenue has doubled in the last
three years.
Having cultivated these strong foundations, VOOVIO • VOOVIO is helping its clients to save on costs while
has seen its sales pipeline grow fivefold in a short providing a more efficient service.
period, while its global revenue has also doubled in
the last three years after it thrived during the height of Key findings
the pandemic. Indeed, as a company able to continue For industry
delivering significant aspects of its solution remotely, • Understand very well the size of the opportunity.
helping its clients to save on costs while providing a more • The growth plans laid out by some Countries
efficient service, the lockdowns and social distancing require attracting and retaining skilled workforce.
restrictions that posed problems for many energy firms There will be a big shortage of it so you must think
actually offered a conducive environment for growth for out of the box to tackle this problem.
VOOVIO.
VOOVIO at a glance:
With some semblance of normality having returned in the Key products and services: A guiding tool for the
post-Covid era, however, VOOVIO looks well placed to field operator for all his life cycle, from onboarding,
excel as it drives towards its ambition of becoming the qualification, refresher training and field execution.
first-choice virtual subject matter expert for the energy
industry globally. Main industries served:
About VOOVIO • Conventional power – 10%
• Others (utilities) – 10%
VOOVIO is a digital platform for the operational excellence
of field operators. The platform uses Enhanced Reality Headquarters: Madrid, Spain
technology (patented by VOOVIO) to create a Digital Year established: 2008
Replica of an operating asset and Standard operating Number of employees: 56
procedure simulators. Revenue from exports: 100%

228 Success stories
Vysiion
Futureproofing through a brave investment in diversification
in 1996, it was finding it difficult to scale, and whilst it had
begun life in the operational technology space, there was a
Peter Clapton, CEO risk that the early day propositions would fall out of fashion.
The early 2010s saw the IT market transitioning away

from legacy infrastructure. As Vysiion’s customers sought
How is Vysiion thriving? to accelerate their digital transformation plans to meet
operational and regulatory demands, it was faced with
Having made the bold decision to seek private equity several pressing challenges. First, it needed an agile
investment in 2015, and the ensuing sale of the business technology team conversant with the latest systems,
to fast paced technology company Exponential-e in 2020, processes, and applications, as well as an understanding
Vysiion has a firm foundation for accelerating their growth. of how they could be applied within their customer based,
a reality that would require serious investment. Second,
Today’s revenue is balanced between the delivery of it needed to build a cybersecurity capability, giving it the
high value project work, and thanks to the advancement ability to address the issues of an expanded attack surface
and diversification of its expertise, the provision of more brought about by the sectors increased deployment of
sustainable reoccurring support services that include, field new smart assets and capabilities. And third, its operating
maintenance of edge and core smart assets, connectivity, model needed to realign to incorporate OPEX and CAPEX
Enterprise IT, and cloud-based solutions. These services lines of business, as new digital systems require frequent
are supplied to support operational technology applications support to ensure high availability.
within a critical national infrastructure (CNI) customer base.
The solution
Thanks to this transformation, which has helped to create
a long-term order book, Vysiion is able to be far more In 2015, the company took a risk by bringing private equity
proactive, invest in their mid- and long-term strategy, and investors on board, a move which resulted in the firm’s
better serve its clients. original owners being diluted, with the view of a longer-
term gain. This proved to be a vital turning point.
The challenge
The investment enabled Vysiion to adopt the radical approach
As a provider of operational technology and IT solutions, along it needed, and build a team capable of embracing emerging
with installation, integration, and technical support services, technology, as well as understanding the challenges and
the Vysiion of today has a wide and valuable offering, highly disciplines of delivering into a regulated sector where system
relevant and aligned to the needs of clients operating across availability and security are paramount. To this end, another
an array of CNI subsectors, including the energy sector. crucial step, also made in 2015, was the acquisition of an IT
support company and investment in a 24/7 support function.
However, rewind to the early-mid 2010s and the company
was faced with a futureproofing problem. Having started out Success did not follow overnight. The investments

Success stories 229
impacted the firm’s margins, while time was needed to

develop its offering and build credibility. Meanwhile,
access to the depth of knowledge required was not
achievable purely through recruitment and upskilling,
hence the move down the acquisition route.
However, over time this investment in people and product

has produced a platform that will allow Vysiion to scale by
tackling the emerging challenges presented by increasingly
connected CNI assets.
While the firm was acquired by Exponential-e Group in 2020,

it continues to trade independently while enjoying increased
access to a range of relevant products and services. Indeed,
continued growth and success has defined recent years, the
company now typically delivering higher value contracts and
working from a more balanced revenue base comprised of
50% new projects and 50% ongoing support. In 2022, Vysiion
turned over £28m – double what it generated in 2018. Story type
#diversification (main category)
In terms of its current client roster, the firm trades with all #culture, #service & solutions, #transformation
the UK utilities, large systems integrators, and contractors,
and has worked on some of the country’s most significant Benefits
renewable energy assets. This includes the Moray East • Learnt that people are a fundamental piece for
offshore windfarm. The CAPEX phase involved a £1m scaling up.
build project for a major System Integrator, which included • Transparency within the company increased; flat
the design, installation, and commissioning, of OT network culture built.
infrastructure on the offshore and onshore substations,
used to connect critical protection and control assets. Key findings
Today, Vysiion provides a wide reaching and ongoing 24/7 For industry
support service, a process which involves the controlled • Create space for everyone, success counts on
update of customers digital assets, including general innovation, operational flare, and reliable hard-
operations and maintenance for stakeholder companies working people.
involved in the generation, transmission, and distribution • Understand the value of your propositions.
of power. In addition, the firm has built expertise in the
design, build, and maintenance, of increasingly complex For government
DMZ gateway platforms. • Be more consistent with standards.
These types of CNI projects have been a game-changer Vysiion at a glance:

for the business and a true test of its new modus operandi Key products and services: OT and IT digital
and extended offering. Despite being more digitised than technology product and solutions, their installation,
ever, Vysiion knows its greatest assets have and always integration, and technical support.
will be its people – looking ahead, transparency between
all parts of the business, including senior management and Main industries served:
how challenges are approached, will be a key priority. • Renewables – 20%
About Vysiion • T&D – 10%
Part of the Exponential-e Group, Vysiion provides innovative • Energy Transition – 5%
edge to core IT and telecommunications product and • Defence, transport, public sector – 50%
solutions, supported by an agile, proactive, and responsive
technical service capability. Customers include system Headquarters: Chippenham, UK
integrators, companies, and organisations within the CNI Year established: 1996
sector. The solutions supplied include IT on premise, private Number of employees: 160
and public cloud technology, critical network infrastructure Revenue: £28m
often referred to as OT, and IDS and IPS cyber security. Revenue from exports: 5%

230 Success stories
Vysus Group
Driving forward with diversification and strategic divestments
and regulatory consultancy business, the firm most
recently underwent a major structural transformation in
David Clark, CEO H2 of 2022, underpinned by the divestment of three key
businesses.
The solution
How is Vysus Group thriving?
This was by no means an easy decision to make. Indeed,
Vysys has kicked on with its transformative vision to the company’s now divested transportation advisory
invest in higher-value technical and regulatory consulting business had been built organically from three to more
services, underpinned by a major structural overhaul that than 30 people in three years, while a US business
saw three core business divestments in 2022, alongside (primarily a field-based service provider) and its Senergy
continued rapid international growth in business driven Wells business had improved performance and scaled up
by promising renewables and energy transition ambitions. in recent times. Yet all three were divested as they did not
fit with the longer-term future vision of the company.
The challenge
Upon becoming independent back in 2020, the firm had
Vysus Group hasn’t been shy of transformation in recent outlined a core strategic objective of focusing on investing
times. Having separated from its former parent company in higher-value technical and regulatory consulting
Lloyd’s Register to become an independent business in 2020, services, that could be deployed across multiple regions
the organisation has undergone radical change, launching a and sectors. If business activities didn’t align, they would
five-year vision to position for net zero and implementing a be divested – a strategy that came to fruition in 2022.
new 30-30-40 vision – where revenue is driven by 30% oil
and gas, 30% infrastructure, and 40% renewables. This was no simple undertaking. Divesting the three
businesses while continuing to drive improved profitability
It has been no small undertaking. Where the old business across the Group has been a major challenge, yet one that
had been significantly underperforming and suffering was achieved thanks to the unwavering efforts of the
in challenging markets, Vysus has turned attentions in firm’s staff.
a completely new direction, leaving behind a legacy
footprint and reliance upon upstream oil and gas revenue An internal team was set up to manage and complete
generation dating back to the 1930s. And that undertaking the divestments, doing so in line with the firm’s targets
didn’t slow in 2022. on timings and value and in alignment with board
expectations, and allowing the rest of the business to
To better deliver its core offering as a high value technical remain focused on improving wider performance.

Success stories 231
At the same time, Vysus Group also furthered

its diversification journey, evolving its toolkit and
capabilities. Business systems and information tools were
upgraded, for example, including a new ERP and intranet
that enabled the firm to begin making better, faster
and smarter commercial decisions. Equally, cultural Story type
improvements were also made, focused on enhancing #transformation (main category)
collaboration and communication, as well as efforts to #diversification, #energy transition
build brand recognition both externally and internally.
Benefits
As a result, the firm was able to transform its offshore • All targets achieved for timing and value of
survey and geo business, moving from 90% oil & gas divestments.
driven to being 55%, well on track to meet the 30% • Successful diversification and expansion processes.
five-year vision, all while continuing to expand activity
in core markets along with growth in Asia and the Key findings
Middle East For industry
• Don’t underestimate oil & gas’ role in energy
The achievements don’t end here. Indeed, the firm is transition.
now involved in five key ScotWind projects, this having • On energy transition, connect the entire life cycle,
already played a key part in supporting the development from source, to transport and storage and then
of hydrogen guidance as part of the European workgroup consumption.
on new safety standards for hydrogen, and also working
on several transition energy pilot projects. For government
• Bring cross-energy stakeholders together and get
Without question, it has been another year of significant them aligned on deliverables.
change for Vysus.
Vysus Group at a glance:
Having delivered over £100m revenue in 2022, exceeding Key products and services: Technical and regulatory
profit targets, the business starts 2023 with a smaller consultancy across energy, renewables and complex
headcount following the 2022 divestments. However, infrastructure.
with over 375 staff deployed across more than 20
countries, the company enters 2023 in a strong position Main industries served:
to continue its ongoing transformation to deliver on the • Oil and gas – 50%
business vision and strategy. • Renewables – 20
About Vysus Group • Infrastructure & Process – 25%
Vysus Group is a leading engineering and technical Headquarters: Aberdeen, Scotland

consultancy offering specialist asset performance, risk Year established: 2020
management and project management expertise across Number of employees: 375
complex industrial assets, energy assets (oil and gas, Revenue: £60m
nuclear, renewables) and the energy transition. Revenue from exports: 80%

232 Success stories
Waves Group
Leveraging extensive marine knowledge to mitigate challenges in offshore wind
to date has often come into projects during the latter
stages, and therefore has little scope to influence matters
Jeremy Panes, Director or impart positive change.
In an effort to change this and be a more valuable client

partner, it is now working to apply its knowledge and
How is Waves Group thriving? offering to customers at an earlier stage in projects to
ensure best practice is implemented during a projects’
Leading marine consultancy Waves Group is successfully inception. Its primary goal is to understand the genuine
applying its deep expertise in ports and harbours as well as challenges associated with constructing each unique
the logistical challenges in offshore construction projects offshore wind farm, to then mitigate these from the
as it seeks to diversify its offering, the firm now also outset and impart operational and cost benefits for clients
advising offshore wind developers on how best to mitigate throughout project lifetimes.
lifecycle risks at project inception. Backed by exposure to
a huge number of legacy projects, a diverse skillset, an The solution
ability to link knowledge to mitigation approaches, an agile
culture and focus on smaller developers which potential This vision began to come to fruition in 2018 when the
competitors don’t always consider, the firm’s newly firm began engaging selected clients for early-stage
established and fruitful niche is already paying dividends. projects. Through these engagements, Waves quickly
found it would better understand their needs and could
The challenge in turn help to refine the recipes for success on given
projects.
Founded in 2005, Waves Group is an established
organisation specialising in marine consultancy, providing The whole focus is around mitigating challenges by
its expertise to the offshore energy and maritime shipping having greater influence upfront. And while the firm is still
sectors. refining the way in which it markets this specific service,
it has already seen both significant demand for and many
Of late, the key challenge facing the company has centred merits of its approach, with smaller project teams having
around applying the skills and experience it has in port been notable beneficiaries.
and harbour development and operation, along with those
acquired through marine warranty to offshore wind farm Critically, this renewed approach was all kickstarted by
construction projects in order to bring additional value to Renewable Infrastructure Development Group (RIDG) – a
clients and capitalise on market opportunities. key client that had been looking to apply for and secure
the ScotWind leasing rights to develop the 2GW West of
Key for Waves is delivering its unique expertise in a Orkney Windfarm.
manner that truly makes a difference. As a marine warranty
surveyor, it has exposure to a range of best practices, yet Despite its ambitions, RIDG recognised that this was a

Success stories 233
particularly tricky location, with limited infrastructure in a

harsh environment. And while it had some experience, it
was presented with several challenges that weren’t within
its typical remit.
Resultantly, Waves was consulted and asked to support

the project application by first outlining the full extent of
the challenges, and in turn developing a methodology that
was robust, workable and feasible for a technical solution.
Valued at around £60,000, Waves delivered on the

contract comprehensively, creating a robust methodology
that could be clearly presented to RIDG’s investors and
the Crown Estate. And the project was subsequently
successful in its application, even in the face of an Story type
extremely competitive leasing round. #service & solutions (main category)
This has been game changing for RIDG and their project Benefits
partners. The West of Orkney Windfarm, which is • Successful solution to client’s needs despite
expected to start producing renewable power come challenges.
2030, represents approximately £4bn of investment. • Enabled wind farm’s schedule to set start of
Further, it is anticipated that the windfarm could also operations for 2030.
deliver renewable power to the Flotta Hydrogen Hub –
a key large-scale green hydrogen production facility that Key findings
has been proposed in Orkney. For industry
• Understand your market and the value of what you
Of course, this is just one example among several success have.
stories, the firm now seeking to proactively expand this • It’s easy to become tunnel-visioned and just provide
proven line of business moving forward. And while Waves a narrow service, see the wider opportunity.
is still taking its time to productise what is currently
an informal and unstructured approach, it has laid the For government
groundwork for success in a major diversified line of • Support growth of further new renewable projects
business, improving its resilience for years to come. and disincentivise fossil fuels.
About Waves Group Waves Group at a glance:

Key products and services: Marine consultancy,
Operating as Waves Group, but originally established providing expertise to offshore energy and maritime
in 2005 as Mwaves and Cwaves - recognised sources shipping sectors.
of expertise in the offshore energy and marine sectors,
the company provides its clients with a range of bespoke Main industries served:
technical advice, assurance, and expert guidance. Waves • Renewables – 48%
is focused on improving confidence and certainty, reducing • Others (non-energy: maritime, shipping) – 52%
risk for offshore engineering and renewable energy
projects, as well as managing casualties, incident response Headquarters: London, UK
and investigations for P&I Clubs and other shipping clients Year established: 2005
across the maritime industry. Waves Group is strategically Number of employees: 56
located to serve its clients worldwide, with offices located Revenue: £7.5m
in the UK, Houston, Rotterdam and Singapore. Revenue from exports: 45%

234 Success stories
Weidmüller
Evolving to maximise opportunities in bespoke engineering solutions
Engineering was established at the end of 2020 as a new
division of Weidmüller.
Stuart Bell, Vice President Global Sales
Creating this new division was a real challenge. Indeed,
the company needed to develop a new organisational
structure supported by project managers, engineers,
How is Weidmüller thriving? and an execution team to ensure that it had the means
of delivering in the market effectively for any potential
To improve resilience and better align with market needs, clients. Since new skills were also required, Weidmüller
Weidmüller has worked to consolidate its new division, recruited a number of additional engineers with software,
Klippon Engineering – an entity designed to support process mechanical, electrical and automation expertise.
industry specialists with activities such as extending plant
life, increasing production efficiency, reducing costs, and It wasn’t simply a case of establishing a new team (now
enhancing safety. With in-house engineering hubs around standing at 40 members strong), however. Equally, the
the world, the newly formed division is enabling the delivery success of the new division was dependent upon new
of flexible, local, fully engineered, bespoke and compliant approaches and an overall shift in mindset.
solutions for hazardous and non-hazardous areas.
While Weidmüller traditionally sells components off-
The challenge the-shelf, Klippon Engineering works to take individual
solutions (of Weidmüller and/or third parties) and bring
Weidmüller is a renowned international company, these together to deliver bespoke packages that address
operating through 31 sales organisations, and over 60 specific client needs. The idea of this approach is to offer
representatives worldwide, positioned today as a leading the flexibility to solve unique problems by delivering fully
firm in Smart Industrial Connectivity. engineered, compliant, bespoke solutions.
Ongoing strategic innovation has been critical to the For this reason, the team of Klippon Engineering had to
evolution of Weidmüller – a core value that the firm once be trained to think solutions, not products, this gap being
again looked to at the turn of the decade. bridged by several initiatives such as internal workshops.
The leadership team saw great opportunities to target and Indeed, Klippon Engineering’s establishment wasn’t
expand into the process market (comprising downstream as a rushed process, but a carefully considered journey.
well as oil and gas). However, for this objective to be realised, Having been established in 2020, the senior team was
a sound strategy and renewed structure were required. then onboarded in 2021 and remaining structures and
employees put in place by the end of 2022.
The solution
While these efforts have been worthwhile, challenges
To maximise opportunity in the process market, Klippon still remain. Indeed, the firm has had to develop new

Success stories 235
positioning strategies, from component to solution.

Meanwhile communicating the new solutions approach
of Klippon Engineering to achieve effective market
positioning is equally an ongoing process. However, the
division’s success has already been proven through several
successful ventures and partnerships.
While end-user MOUs had never before been signed

in Weidmüller history, Klippon Engineering was able to
secure them with major oil players ADNOC and a major
NOC in Southeast Asia in a period of only three months.
This has been possible by the establishment of new
manufacturing plants, such as in Saudi Arabia, and proven Story type
useful in helping to grow local business. #service & solutions (main category)
#diversification, #people & competency
In the case of Saudi Arabia, the firm recently won contracts
doubling its business of the previous 12 months, in the Benefits
first weeks of 2023. In UAE, meanwhile, the firm has been • Revenues increased €17m from 2021 to 2022.
supporting ADNOC in developing a network of remote • Paramount works secured in the UAE.
I/O cabinets to reduce its infrastructure and running costs.
Key findings
According to the firm’s renewed engineered solutions For industry
model, underpinned by a combination of in-country • Don’t be afraid to take risks if you have the right
facilities and industry experts, Klippon Engineering has people beside you.
successfully enabled a major step in both revenue stream • Don’t give up – if clients want it, push on.
and types of contracts. The figures speak for themselves,
the division having secured revenues of €118m in 2021 For government
and €135m in 2022. • Invest for the future, not for now. Focus on
consistent, country-based (not government), long-
With its new offering of services that includes the term policies for the whole UK.
extension of plant life to increasing production efficiency,
as well as a proven track record in delivering solutions Weidmüller at a glance:
successfully, the new division is now well positioned to Key products and services: Manufacturing and
continue expanding its innovative new model moving engineering for the power, signal and data sectors.
forward.
About Weidmüller • Oil and gas – 10%
Weidmüller supports customers and partners around • Nuclear power – 10%
the world with products, solutions, and services for • Others (industrial machinery, infrastructure,
Smart Industrial Connectivity and the Industrial Internet consumer electronics) – 70%
of Things that shape the digital transformation. The
company knows the technological challenges of tomorrow, Headquarters: Detmold, Germany
continuously developing innovative, sustainable, and Year established: 1850
useful solutions for the individual needs of its customers. Number of employees: 5,200 (Weidmüller), 47
Weidmüller owns manufacturing plants, sales companies (Kipplon)
and representatives in more than 80 countries. In the Revenue: £1.05bn (Weidmüller), £118m (Kipplon)
fiscal year of 2022, the company reached sales of over Revenue from exports: 3% (Weidmüller), 10%
€1bn with around 6,000 employees. (Kipplon)

80
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EIC Insight Report 2023

July 2023 EIC Survive & Thrive 2023

EIC Insight Report 2023

We are experts in tracking global projects, energy assets, and

Copyright © 2023 Energy Industries Council (EIC) - All rights reserved

ABOUT THE EIC 10

THE KINGS AWARDS 2023 11

Oil & Gas = recession-proof 26

Shock news! New markets are too hard 28

Everybody is talking about people. But why? 30

Beyond the hope and hype 34

Good times ahead. We hope 36

Leadership Lessons for a booming market 38

Wenishedlastyear’sSurviveThrive & process

EIC Survive & Thrive 2023 July 2023

oping a long-term strategy. This year, it is much more

Perhaps the years of COVID and values of promising

July 2023 EIC Survive & Thrive 2023

EIC Survive & Thrive 2023 July 2023

to Brexit, and which are not, and

July 2023 EIC Survive & Thrive 2023

EIC Survive & Thrive 2023 July 2023

THE GO-TO ENERGY SUPPLY CHAIN

The EIC is uniquely positioned to help energy supply chain

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July 2023 EIC Survive & Thrive 2023

Our Objective is to provide our members with a pow-

We will add value to each of our member companies

Further, EIC’s objec-

In 2023, the Energy

EIC Survive & Thrive 2023 July 2023

Energy Industries Council receives

Written by: Jonathan Dyble

July 2023 EIC Survive & Thrive 2023

Understanding businesses in a variety of ways, from

Participating in the award

“It’s made us realise that

EIC Survive & Thrive 2023 July 2023

EIC CEO Stuart Broadley. “It gives “Today, the EIC

July 2023 EIC Survive & Thrive 2023

Revenue from exports

energy storage, waste

Oil & Gas

AAL Shipping 110 20% 20% 30% 30%

EIC Survive & Thrive 2023 July 2023

Revenue from exports

energy storage, waste

Oil & Gas

Calgavin 35 £3,5 90% 80% 2% 5% 13%

July 2023 EIC Survive & Thrive 2023

Revenue from exports

energy storage, waste

Oil & Gas

KBR 28.000 £5.300 10% 16% 3% 81%

EIC Survive & Thrive 2023 July 2023

Revenue from exports

Oil & Gas = recession-proof 26

Shock news! New markets are too hard 28

Everybody is talking about people. But why? 30

Beyond the hope and hype 34

Good times ahead. We hope 36

Leadership Lessons for a booming market 38