Date(s) - May 31, 2019
7:30 am - 9:30 am
Exploring new opportunities in the renewables sector
AREG, in partnership with Subsea UK, would like to welcome and invite you to its upcoming event, showcasing companies who have diversified from oil and gas into renewables.
0730 – 0800 Breakfast and networking
0800 – 0810 Formal welcome
0810 – 0850 Company presentations from:
- Blaze Manufacturing Ltd
- PanGeo Subsea
- COES Caledonia (UK) Limited
- Further speakers to be announced
0850 – 0905 Q&A
0905 – 0910 Vote of thanks
0910 – 0930 Networking and close
In 2014-15, Blaze Manufacturing Ltd’s business was purely focused on the UK market. The entire client base came from the oil and gas sector with revenue and opportunities being derived solely from the UK Continental Shelf. This proved critical for the company when the industry downturn started, as all large-scale projects were put on hold.
Blaze’s revenues were hit badly during the period, dropping from £18.6m to £3.5m. The business owners Howard and Ann Johnson recognised that to survive, diversification would be required and so the company embarked on a strategy of research and innovation in order to source new markets to take their fire safety solutions to. This led the company to explore projects in other sectors, including mining and renewable energy, taking in a project in the Democratic Republic of Congo and projects for major European renewables clients including Engie and Orsted.
In 2018, 26% of sales were attributed to renewables, 49% to the industrial and commercial markets and 25% to oil and gas, with this trend looking to continue into 2019.
In the beginning of the technology development, Pangeo Subsea was focused on subsea applications for the oil and gas market. With the downturn, PanGeo refocused efforts on the renewables market and today have about 80% of their sales attributed to the offshore renewable energy market. PanGeo’s subsea imaging technology has many applications and the most natural move from oil and gas was to pre-route, cable and UXO surveys for windfarm installations. The shift was not difficult in terms of technology application; however understanding the players and the market required the most effort.
Please note this event is free for AREG members only, there will be a £25 charge for non-members to attend.
Places are limited and will be allocated on a first come, first served basis, so please register your attendance in advance via Eventbrite.
Should you have any questions about the event please contact firstname.lastname@example.org.
We look forward to welcoming you to the event.