Subsea Innovation

"The Tees Valley Catalyst Fund loan has been instrumental in helping us move up a gear and we’re confident that we can now build on these foundations."

Martin Moon, Managing Director, Subsea Innovation

Established in 1985 by a team of experienced engineers and diving professionals, Subsea Innovation designs and manufactures equipment for the off shore oil, gas and energy sectors.

The company, based in Darlington, County Durham, used a loan from the Tees Valley Catalyst Fund to secure an advanced payment guarantee issued by Barclays for a major contract with RasGas in Qatar, one of the world's premier integrated liquefied natural gas (LNG) suppliers.

The contract saw Subsea Innovation design and build a series of structural pipeline repair clamps and connectors for RasGas to use in its operations.

The Tees Valley Catalyst Fund closed to new applications on 31st March 2023.