A next-generation name in subsea asset integrity management software has exceeded early expectations by securing work worth more than half a million pounds in its first three months of operation.
Elementz, which was launched in Aberdeen earlier this year, has announced that it has won more than £500,000 of annual recurring revenue during its first quarter and has employed one additional member of staff per month during that time. The headcount is expected to rise by up to six more in early 2025 as business continues to ramp up in the weeks and months ahead.
The company was established to take a wealth of experience in industrial software provision and enable the transformation and modernisation of integrity management across subsea asset portfolios for a growing global client base of multinational operators across the Americas, Europe, Africa and Asia.
With a dedicated team of 17, Elementz specialises in robust and trusted Software as a Service (SaaS). The core offering – “Integrity Elementz” – provides a range of comprehensive, configurable cloud-based applications or “elements” to enable users to build End-to-End (E2E) integrity frameworks for their subsea assets. They can be tailored to provide all the functionality needed to serve as the core integrity platform to effectively plan, execute and report on all integrity and inspection activities.
Commenting on the success of the firm’s first quarter, Elementz CEO Jason Brown said: “Within a modern, integrated energy portfolio, maintaining subsea integrity has never been more important to uphold existing infrastructure and drive forward new energy developments – it lies at the very heart of a sustainable and resilient energy future. The prize of transforming from traditional approaches as part of a wider digital eco-system is significant with the potential to reduce operational costs by over 40%.
“It is against this backdrop that Elementz was born, and, from the outset, we were keen to emphasise that only the name is new: the knowledge and expertise behind Elementz have a long and solid track record. This reputation as a safe pair of hands has truly enabled us to hit the ground running when it comes to connecting with clients and, crucially, in efficiently delivering the tailored services they need, when they need them.”
To find out more visit: www.elementz.digital
