UK-based remote operated vehicle operator ROVOP has increased its ROV fleet by 50% following aUS$74.93 (£56 million) funding boost.
Blue Water Energy and BGF have jointly committed to the funding, which allowed ROVOP to buy an additional 24 ROVs, from Tidewater in Houston.
BGF first invested £10.6m in ROVOP in April, 2015, and has since supported the company twice more with additional funding to grow the fleet.
ROVOP, which has bases in Aberdeen and Houston, employs more than 180 people in onshore and offshore roles, and operates 16 of the world’s most advanced ROVs.
Since being co-founded in 2011, by CEO Steven Gray, and chairman Mark Vorenkamp, ROVOP has been 100% focused on the provision of ROV services to the oil and gas, offshore wind, telecoms and power transmission industries. Mark Vorenkamp is now set to retire from the company.
Gray said: “The past few years have seen customers recognize the difference in our quality of service. This latest investment allows us to continue to deliver this service to more customers, especially in the US, where much of the new fleet has being acquired from Tidewater. The combination of the latest ROVs with our current assets mean that we will have the highest quality ROV fleet globally.
“With BGF’s support, we have already established ourselves as a leading specialist in our field. The new partnership with Blue Water Energy will cement this further and accelerate our ambitious growth plans to become the leading independent ROV company."
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