Rovco to Launch Live 3D Subsea Technology
Subsea services company Rovco said it is set to launch its advanced live 3D subsea survey system.
Following two years of extensive research and development activity, the new technology will begin field trials this month. The system has been developed to effectively manage the increasing complexity of subsea operations, using real-time 3D vision and AI data analysis to cut the cost of underwater inspections and maintenance.
The launch is made possible by a £1.2 million ($1.6 million) investment from three U.K.-based investment houses, Green Angel Syndicate, Cambridge Angels and Bristol Private Equity Club. The funds will see Rovco bring its latest inspection technology to the global energy market.
To meet an increased market demand for subsea inspection around offshore windfarms, pipelines and cables, Rovco also plans grow its headcount from 10 to 30 employees within the next year and add three new ROVs to its fleet within the next six months.
Brian Allen, founder and CEO of Rovco, said, “We have entered the second quarter of 2018 with a strong pipeline of sales and we are extremely confident in our ability to grow our client base both in the U.K. and overseas. Despite the ongoing market challenges, we have continued to invest in R&D to ensure we deliver high quality and efficient services in several key and growing international markets.
“This latest financial backing will not only allow us to accelerate our growth plans, but it will see us work alongside some of the U.K.’s most well-established and knowledgeable business leaders whose industry experience will be extremely valuable in the next stage of our development.”