Member Article

Darlington-based Subsea Innovation Ltd. to expand business

Marine equipment and services firm Subsea Innovation is set to double the size of its business within the next three years.

Subsea Innovation’s newly appointed managing director, Martin Moon, has expressed his confidence in the company’s capacity for growth.

The firm, which supplies underwater engineering projects with services and equipment, currently employs 35 people at its Darlington headquarters and has a turnover of £7.5m.

Plans to build on existing regional bases will focus especially on the North East region, and growth in the global energy sector will bolster expansion into different locations.

Martin Moon said: “It is important for us to progress to meet clients’ expanding needs and to continue to develop market-leading effective products in line with customers’ growing and changing requirements.

“The work will take our team and services into a wide range of geographical regions as the energy sector expands into new global markets, and we have the proven expertise to deliver to any part of the globe.

“The growth targets are perfectly achievable in a sector which is strong and thriving, especially from the exciting North East England hub.”

Subsea Innovation is a member of energy business development outfit NOF Energy, and joins a regional sector of 50 supply chain companies, which is expected to grow by 29% in the next two years to underpin over 10, 000 jobs.

Director Business Development at NOF Energy, Joanne Leng MBE, said: “The ambition shown by Subsea Innovation is testament to the strength of the sector in the current climate and we have confidence that, under Martin’s leadership, the company will be an ongoing success and help to fly North East England’s flag across the globe.”

This was posted in Bdaily's Members' News section by Miranda Dobson .