Sentinel Subsea nets six-figure investment
Sentinel Subsea, which specialises in passive well integrity monitoring, has secured a six-figure investment as it continues to develop its “game-changing” technology.
The firm has secured the sum from Alba Equity and Scottish Enterprise, and says the capital injection comes at a pivotal stage of its development, strengthened by the recent appointment of Ray Riddoch as chairman.
Sentinel Subsea has developed Wellsentinel, a “unique” method of monitoring and managing the integrity of subsea wells, wellheads,and“xmastrees” (stacks of vertical and horizontal valves installed on a subsea wellhead).
The firm, which was founded in 2018, says it offers a proven method of long-term remote well integrity monitoring, without the complexity of active power or data communication, and with successful field trials having been carried out.
Sentinel Subsea chief executive Neil Gordon cheered the funding from Alba Equity plus the support from its syndicate members. “We know our technology has vast benefits for the industry, including large cost savings and a reduced emission footprint – this investment will allow us to continue our vital work towards eliminating risks associated with maturing infrastructure and extend the life of the subsea facilities.”
Alba Equity focuses on high-growth businesses developing unique and patented technologies. John Duncan of the Aberdeenbased investment syndicate said: “We are delighted to support Sentinel Subsea withitsnextstageofgrowth, both with the investment and introduction of Ray.”