Aberdeen-based Rovtech will acquire the VALOR remotely operated vehicle (ROV) business from Seatronics in a “transformative” seven-figure deal.
Rovtech said the “strategic acquisition” will enhance its position as a “global technology leader” in manufacturing robotics, tooling and harsh environment equipment.
The company serves the nuclear energy and subsea sectors, with its ROVs designed to withstand radiation, extreme heat and deep ocean pressures.
Rovtech said the addition of the VALOR (versatile and lightweight observation ROV) will boost its portfolio, with the technology offering industry leading capabilities at a “far lower weight and cost” compared to rivals.
The deal will also double Rovtech’s workforce across its two sites in Aberdeen and Barrow-in-Furness from 10 to 20 employees.
© Supplied by Rovtech/True NorthRovtech chief executive John Polson said the VALOR ROV has provided a “step change in what has traditionally been the limitations of an observation class ROV”.
“Its lightweight design, power, manoeuvrability, and unmatched ability to integrate several state-of-the-art sensors, make it an indispensable tool for modern subsea operations, and we are thrilled to integrate this business into Rovtech,” Polson said.
“With this acquisition, we’re not just expanding our capabilities – we’re looking to set the standard for efficiency and innovation across the nuclear and subsea energy sectors.”
Polson said Rovtech is now “well-positioned” as a provider of “some of the world’s most advanced and reliable ROVs on the market”.
Rovtech and Ventex
Formerly based in Cumbria, Rovtech was acquired by Aberdeen climate tech venture studio Ventex in October last year.
Launched in Aberdeen last year, Ventex is focused on repurposing existing energy supply chain firms to support emerging renewables markets.
Ventex managing partner Steve Gray said the acquisition of VALOR ROV will create a “new leader in robotics for subsea, nuclear and other harsh environments”.
© Supplied by Ventex/True North“By applying Rovtech’s full-service product development, prototyping and manufacturing capability to the cutting-edge VALOR program, we will enable lower cost, safer and lower carbon work for end-users of subsea robotics,” Gray said.
Since its launch, Ventex has also invested in Aberdeen-based High Performance Robotics (HPR) and Australian decommissioning-focused artificial intelligence firm Rahd.
Announcing the Rovtech deal, Ventex said it has a “strong investment pipeline” and will be making “further investment announcements in the coming months”.
XOCEAN raises £96m for USV tech
The Rovtech deal comes amid increased investment globally in offshore and subsea robotics.
Irish firm XOCEAN announced €115 million (£96m) in investment following a fundraising round.
Founded in 2017, XOCEAN gathers ocean data for the offshore energy sector from its fleet of uncrewed surface vessels (USVs).
© Supplied by XOCEANThe Rathcor-based firm partnered with S2G Ventures to structure the financing round.
The company received investment from S2G, Climate Investment (CI), Morgan Stanley’s 1GT fund and an affiliate of the Crown Family’s CC Industries.
CI said demand for ocean data services is projected to grow significantly over the coming decade “as the blue economy becomes a greater focus for capital deployment”.
The offshore wind sector is a key factor in this growth, with global installed capacity set to increase by more than 500% to reach over 250GW by 2035, excluding China.
XOCEAN already counts major energy firms SSE Renewables, Ørsted, BP, and Shell as clients, with the company operating across more than 23 jurisdictions.
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