ABERDEEN digital energy solutions firm, Fennex, has relocated its office to the city’s ONE Tech Hub as part of plans to further expand its team and services. The news follows the company being named alongside major industry players as a finalist at the recent World Oil Awards in Houston, earlier this month.
The company has doubled in size this year alone, with plans to increase headcount by a further 50% next year. Its move to ONE Tech Hub, Aberdeen’s centre for digital technology and entrepreneurship provides the space and growth ecosystems to support its ambitions.
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In the last year alone, Fennex has onboarded two new international customers; Valaris and Shelf Drilling and secured future scope of work worth more than $1 million. The future growth of the company will be driven through innovation, Fennex’s flagship BBSS technology and ongoing research and development of technology that targets the international offshore market to support operation assurance during extreme weather conditions.
Adrian Brown, Founder and Managing Director at Fennex, who has held senior leadership roles with global engineering, technology, and drilling companies, said: “Our move to ONE Tech hub is an important part of our growth plan for the business. It’s great to be in the hive of digital and technology excellence – helping cement the city’s place as a leader in energy innovation and digitalisation.
“This has been an exciting year for the business, we continue to grow steadily and have had the opportunity to deliver effective, scalable and easy to use digital solutions to address complex challenges across the energy sector.
“It’s been fantastic to see our work recognised at industry awards. Most recently as a finalist at the World Oil Awards in the HSE & Sustainability for Offshore category, which is a global industry award to recognise the best technology and biggest impact on the industry. It not only helps put Fennex on the map at the international scale, but has helped us to attract the top talent that is allowing the company to continually push the innovation envelope.”
The company’s Behavioural Based Safety Solution (BBSS) was shortlisted alongside a number of significant energy sector players including Expro, Schlumberger and Siemens Energy for the Health, Safety, Environment/Sustainable Development Offshore Award at the prestigious stateside award ceremony last month. This international industry recognition adds to the coveted winners’ trophies the technology firm has already secured including OEUK, SPE Offshore Achievement Awards and Elevator business awards.
The BBSS digital solution harnesses the transformative power of digital technology to improve safety observation procedures across the energy industry. The technology, which is currently deployed across 23 offshore assets worldwide, fully transforms the critical safety observation reporting programme into a clear, agile and streamlined process, and offers quick and accurate access to critical safety data, at enterprise scale, to improve safety and sustainability performance.
Noble Corporation deployed BBSS 18 months ago and has since received 1.3 million safety observations, representing a 30% increase in safety reporting and indicating a clear boost in engagement by the workforce. By automating routine tasks, the company has saved an estimated 15,000 hours of labour that would have been required without the digital tools. This translates to a 70% cost reduction and savings of $1 million annually, as well as delivering an unprecedented improvement in safety performance across the global fleet, achieving a reduction of recorded incidents by 43%.
Thanks to the huge success of the solution, Fennex is set to launch the BBSS as SaaS (Software as a Service) product with the aim to target the fast-growing energy sector in the US.
Adrian added: “The US market will be a catalyst for our future growth, we are officially open for business in America and with more business development targeted plans and presence planned for the near future. It’s an exciting time.”
The company’s solution is also a finalist in the Northern Star Business Awards in the Inspiration From Innovation category. The winners will be revealed in April next year.