Aberdeen entrepreneurial duo secure £250k funding from RBS
Two Aberdeen entrepreneurs have secured a £250,000 funding deal from Royal Bank of Scotland to develop cutting-edge robotics and asset inspection solutions for the energy sector through their co-founded business, Innovair Ltd.
As a gateway to the North Sea, Aberdeen has long been pivotal in the success of the UK’s energy industry and the existing infrastructure presents exciting opportunities for innovation in both on and offshore markets.
Supporting the business to pursue this, the funding from RBS has allowed owners and Aberdeen locals Stuart Lawson and Andrew Johnston to develop new inspection solutions spanning technologies from drones to Advanced Non-Destructive Testing (NDT) Robotics, all with the aim of safely and efficiently accessing remote areas of high-value assets.
The past 12 months have seen the business go from strength to strength providing trusted inspection data to operators of both onshore and offshore assets.
During this period, Innovair has secured a number of national contracts in both the oil & gas and renewables sectors. One recently awarded 3-year contract covers the inspection of wind turbine blades and main structures across some 170 turbines and 3 offshore substations. They have also been awarded a contract worth over £250,000 to deliver specialist inspection projects for a UK Continental Shelf (UKCS) Oil & Gas operator during 2022. Innovair will look to recruit another three members of staff over the next 6 months to support business growth and contract delivery.
Stuart and Andrew bring a combined 40 years of expertise to the business and have worked together every single day of their working lives, beginning their careers in Aberdeen as Inspection Engineers.
Stuart Lawson, co-founder at Innovair said: “The current pace of change in the energy sector is remarkable, creating many exciting opportunities for growth.
“Having the support of Royal Bank of Scotland to help us develop new solutions to meet demands has been vital to our continued success. We’re excited to utilise our range of solutions to help our customers to understand their environments, maintain asset integrity, reduce risk and improve productivity across the sector”.
Keith Linklater, relationship manager at Royal Bank of Scotland, added: “We’re proud to continue supporting industry-leading ideas through our relationship with Innovair Ltd.
“The solutions that Stuart and Andrew have brought to the energy market takes advantage of their many years of experience and will play a key role in supporting the industry both now and into the future”.
“Backing local business is central to our purpose at Royal Bank of Scotland, we’ll continue to work closely with Innovair to provide the support they need as they continue to thrive.”