Glasgow-headquartered subsea firm Sulmara has secured a £15 million investment from equity investor BGF.
Sulmara provides survey and inspection services to the offshore wind and energy markets using a range of autonomous and uncrewed vessels.
Founded in 2019, the company has rapidly expanded to a global footprint with offices in Aberdeen, Norwich, Houston, Singapore and Taipei.
The company sees more close to £55m in annual revenues, representing a 61% compound annual growth rate over the last four years, with clients including Orsted, Chevron and Seaway7.
Sulmara said the investment from BGF will enable further complex and low carbon data collection in “environments that pose a huge challenge to conventional methodologies”.
Sulmara founder and chief executive Kevin McBarron said the investment comes at an important moment for the company.
“This significant investment of growth capital is a vote of confidence in our strategy,” he said.
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BGF investor Richard Pugh said the firm has been impressed with Sulmara’s rapid growth in the industry.
“Offshore renewables and their adjacent technologies have an increasingly important role in decarbonising our energy, and an area Scotland has world leading expertise,” he added.
Alongside Sulmara, BGF is also an investor in Scottish firms including Glacier Energy and FrontRow Energy Group.
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