Succorfish, a maritime technology innovator from North Tyneside, has embarked on a pioneering journey into the oil and gas sector. Initially known for addressing marine sustainability by locating lost fishing gear, the firm is now exploring new opportunities in subsea equipment monitoring.
Expanding Horizons in Oil and Gas
Succorfish, a North Tyneside-based technology firm known for tackling the global issue of lost fishing nets, is making significant strides into the oil and gas sector. In collaboration with Eastern Seals, they’ve adapted their MyGearTag device, traditionally used by fishing vessels, for operations hundreds of metres underwater. This move signifies a bold industry diversification for the company.
The MyGearTag Innovation
The MyGearTag device, renowned in the commercial fishing industry, enables vessels to retrieve lost nets and traps within a three-kilometre radius. With its shell composed of recycled materials, the device has undergone significant upgrades to endure the extreme pressures near oil and gas rig bases. It weighs just 500 grams, ensuring easy deployment and management underwater, thanks to substantial testing at Cramlington’s accredited facility.
Partnering with sealing providers and engineering experts was crucial to re-engineering the device. With these enhancements, the MyGearTag offers a cost-effective alternative to existing, bulkier monitoring systems.
Collaboration with University and Industry Experts
Succorfish’s collaboration with Newcastle University’s Faculty of Electrical and Electronic Engineering and the NETTAG+ project laid the groundwork for the MyGearTag’s development.
The critical financial backing from UK Research & Innovation, alongside the European Union, facilitated this groundbreaking project, ensuring the product met the environmental and operational needs of the maritime sectors.
The North Tyneside firm’s internal team of 20 professionals was instrumental in bringing this technology to fruition, allowing for seamless integration into both fishing and oil sectors.
Testing and Development
The MyGearTag underwent rigorous testing at IKM, Cramlington, ensuring it can withstand harsh underwater conditions. This testing was pivotal in adapting the device from a commercial fishing application to oil and gas operations, where it can monitor and locate equipment and storage space locations under the sea.
IKM’s comprehensive testing facilities provided vital data, enabling further refinements and confirming the device’s resilience and operational capabilities.
Strategic Partnerships and Market Expansion
Succorfish’s strategic alliances with Eastern Seals and other service providers play a crucial role in its expansion into the oil and gas market. These partnerships are set to develop innovative applications for the MyGearTag, supporting oil and gas companies in optimising rig operations.
With the product now in full production, Succorfish is finalising distribution agreements globally, aiming to replicate its commercial fishing success within the oil and gas industry.
The market response has been exceedingly positive, reinforcing Succorfish’s confidence in the product’s adaptability and appeal in new commercial landscapes.
Environmental and Economic Benefits
Originally designed to mitigate the environmental impact of lost fishing gear, the MyGearTag offers substantial environmental and economic benefits. It addresses the estimated $2.6 billion annual cost to fisheries worldwide due to lost gear, providing a sustainable solution by recycling ocean debris into new products.
The device’s efficient design reduces costs and power usage, making it attractive to sectors beyond commercial fishing.
The response from potential global oil and gas clients echoes the success seen in fisheries, indicating a strong market demand for such innovative, sustainable solutions.
Looking Ahead
Mr. Chad Hooper, CEO of Succorfish, expressed optimism about the future applications of the MyGearTag in new sectors, citing the overwhelming positive response from potential customers. The focus will remain on advancing partnerships and leveraging the technology’s unique capabilities to address industry-specific challenges.
Succorfish’s expansion into the oil and gas industry represents a significant milestone. By leveraging cutting-edge technology, the firm offers robust solutions for both environmental protection and operational efficiency.
