Banchory-based Subsea Micropiles has secured £9.2 million of investment for its technology that it expects will support around 100 jobs over the next five years.
The cash injection will also fund the company’s ambition to expand operations in Scotland.
The near £10m was fronted by the Scottish National Investment Bank (SNIB) which committed £6.7m to the Aberdeenshire business.
A further £2.5m was pledged by Japan’s Marubeni to round out the investment which will support Subsea Micropiles’ plan to manufacture anchors for the offshore wind market.
Derek Robertson, chief executive of Subsea Micropiles, said: “There is so much potential in Scotland’s offshore wind market, and we are excited to play our part in the supply chain with our lower cost system that, critically, is less environmentally impactful.
“Our plan to manufacture anchors in Scotland will help reduce import requirements for key offshore components and our technology will give further flexibility and reliability to developers by using smaller and more readily available vessels along with remote seabed drilling systems.”
The Dublin-headquartered firm claims that its technology is less carbon-intensive than alternatives due to the use of smaller vessels.
The marine anchor system is designed for industrialisation, which will allow large offshore construction projects to be completed at lower cost, Subsea Micropiles claimed.
The firm added that the versatility of its technology, as it accounts for a wider range of load requirements and soil conditions, will drive investment in the offshore wind sector.
An additional benefit of its anchors requiring smaller vessels is a reduced impact on marine ecosystems due to less sound disturbance.
Laura Fidao, investment director at SNIB, commented: “Easing bottlenecks in the renewable energy supply chain is an essential part of delivering clean energy and driving Scotland’s international reputation in the sector.
“Subsea Micropiles’ technology aligns to our net zero and innovation missions as an impact-led investment bank.”
SNIB’s investment is part of the Scottish government’s commitment to invest up to £500m over five years into the nation’s offshore wind supply chain, announced in October 2023.
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