July 16, 2024

Transferable tech and business opportunities in the blue economy

Transferable tech and business opportunities in the blue economy

Later this month, Subsea Expo 2023, the world’s most significant yearly subsea exhibition and convention will return to Aberdeen.

Organised by the Worldwide Underwater Hub (GUH), the collection of functions, exhibitions and conferences claims to showcase a lot more than at any time right before the sheer size, scale and option of the blue financial system.

The blue economy is described by a lot of as the sustainable advancement and stewardship of a range of financial actions worried with sea and ocean methods.

The GUH was proven in 2021, incorporating to its forerunner Subsea UK’s powerful legacy mainly developed up in the oil and fuel sector from a base in the north-east of Scotland.

This is a legacy we are reminded of on the familiar roadside indicator in Westhill, on the outskirts of Aberdeen, which reads “Global centre of excellence in subsea engineering”.

Substantially of Westhill and the UK’s achievements in subsea engineering is attributed to the maturity of the oil and fuel sector in the North Sea. Decades of expertise have encouraged market companies, the supply chain, expert expertise, careers, awareness, and working experience to gravitate into clusters, most drastically in the north east.

This cluster not only serves the North Sea sector, it also is centre for important export trade. It is a centre for state-of-the-art improvement and deployment of underwater engineering with a lot to give to other industries and sectors.

It goes devoid of declaring today even so that the GUH and blue economy stand for a lot a lot more than the just the north-east and the oil and gas sector. Crucially, this is a essential theme of the GUH and at Subsea Expo 2023.

subsea uk © Equipped by DC Thomson/ Wullie M
Subsea Expo 2023 is hoping to appeal to extra than 6,000 site visitors.

Other lively and crucial underwater sectors in the Uk include things like maritime, aquaculture and defence amongst other folks.

There are other hub clusters too, notably in the north and south of England. Alongside vitality, for companies in these sectors there are innumerable cross-providing and cross-fertilisation chances in the blue financial system in possibly accessing or supplying innovative engineering, competencies, investigation and improvement, practical experience and comprehending to every other.

As a strategically focussed trade and sector advancement overall body, the GUH is a multi-sector organisation symbolizing all underwater industries.

What this usually means for its users and stakeholders is the potential to offer you an unrestricted see to improve out and acquire items and solutions from their recognized sectors and spots into identical blue financial system marketplaces and environments.

In the course of the Uk, GUH therefore exists to speed up growth and innovation in firms by creating on the strengths of the countrywide underwater business, described today to be worth £8 billion for every 12 months.

From an internationally enviable place of owning the biggest world-wide industry share of underwater sectors and industries, and with centre of excellence credentials, this offers the United kingdom significant export opportunities as nicely as prospective buyers to changeover techniques and products and services into new sectors.

Superb examples of this changeover can be discovered in the electricity sector, in which subsea firms that have been proven to provide the oil and fuel business are addressing prospects in the increasing offshore renewables market place in the British isles, and exporting their merchandise and providers overseas

Not only do these opportunities supply routes to new marketplaces, assistance to tackle the electricity transition and the journey to net zero, they enable firms to defend income and pursue advancement opportunities in new abroad markets.

This is a concept that we are seeing at AAB in our shopper portfolio and in our new company growth functions.

At Subsea Expo 2023 later on this thirty day period, we congratulate the GUH for offering an crucial focal stage and method to remarkable improvement chances for Uk companies and our economic system.

Alasdair Inexperienced is a Companion and Head of Strength at AAB.

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