Marine Innovation first winner of the “Subsea Upcoming Company of the Year” Award

The Bergen localized company Marine Innovation was yesterday given the ”Subsea Upcoming Company of the Year 2009” award. A clearly satisfied general manager, Geir Lasse Kaldestad, received the prize during the NCE Subsea annual general meeting, being the first winner of the award.

Published: 28 April 2010


Photo: Trond Olsen – General Manager NCE Subsea, Geir Lasse Kaldestad – General Manager Marin-Innovasjon, Øystein Bredholt – Sparebanken Vest and Arne B. Riple – Chaiman NCE Subsea.

‘The Subsea Upcoming Company of the Year' Award is a co-operation between NCE Subsea, Sparebanken Vest, CONNECT Vest and Underwater Technology Foundation. The objective is to contribute to the development and commercialization of new and growing companies with products, concepts and services within the subsea industry value chain in the Bergen area subsea cluster.

The award consist of the right to use Subsea Upcoming Company of the Year in own marketing, publicity, an artwork, a diploma and NOK 80.000,- to be used for development purposes in the company.

Marine Innovation has been evaluated by the jury for their performance on the following criteria categories:
  • CONNECT Springboard ®, Pre-springboard or alternative process
  • Economy
  • Technology and services
  • Market and competition
  • HSE
  • Influence on the society
In the evaluation Marin-Innovasjon’s degree of maturity and existing and future business potential has been considered.
 
The jury members have been Trond Olsen - NCE Subsea, Tor Wilgohs Knutsen – Underwater Technology Foundation and Øystein Bredholdt – Sparebanken Vest.
 
About the Award winner
 
Marine-Innovation was founded in January 2005, and has specialized on development for real time, data logging and control systems in addition to electronics design and development. Starting off with a big re-design project, containing both electrical and software engineering for FMC Technologies, the company got a flying start. The same year Mar-In signed an Alliance Partner agreement with National Instruments, which is a provider of data acquisition equipment and programming software. With Mar-In’s experience from subsea operations and engineering this soon became a success. With extensive experience related to development and operation of subsea vehicles, and detailed knowledge about electronics and microcontrollers, Marine Innovation is capable of handling high-tech projects both onshore, offshore, subsea and down-hole.
 
By building up the company in a controlled way, Mar-In has since the beginning gained good profit. With no debt and good liquidity the company has coped well during the financial crisis, and even doubled its’ turn-over from 2008 to 2009.
 
In 2009 the company formalized its HSE&Q system and got an Achilles certification, which is a prequalification certificate for vendors to the oil and gas industry.
 
Mar-In has established a young and highly inspired environment of engineers, all with bachelor or master degrees within electronics or cybernetics. Mar-In has currently 9 employees, where one employee is located at the Oslo office which opened 1st April this year. During the next two years Mar-In plans to expand the staff to around 15 employees.
 
Since 2006 Mar-In has focused on electronics design and software. Regarding electronics the greatest achievements has been related to high temperature applications. The company has developed various embedded systems including a brushless DC motor driver and a modem for down-hole wireline operations. These products have made international awareness and put Mar-In on the map. In addition to the specialized high-temperature market, Mar-In also deliver electronics to a variety of other subsea and onshore industries. Mar-In’s other key product is data acquisition and control system software. Many of these systems are high-speed real-time systems providing an accuracy of the data in the micro second range.
 
The “innovation” part of the company has resulted in several products, including a GPS module, different down-hole electronics cards, GPS and satellite antennas for subsea vehicles, wireless data acquisition systems for rotating shafts and the subsea black-box recorder TrackLog.  This stand-alone recorder unit is capable of logging pressures, vibrations, impacts, accelerations etc, and comes with an integrated battery, real-time clock and memory.
 
After focusing on the Norwegian market the first five years, the company is now looking abroad, and has now signed contracts for delivery of high-performance data acquisition electronics and software to a company in China.
 
Due to Mar-In’s versatility of services it has been a challenge to broadcast to potential customers what Mar-in can offer, so the message is “Mar-In deliver services to all businesses requiring special designed electronics and software”.
 
Mar-In has customers like: Aker Solutions, FMC Technology, AGR, ABB, Western Geco and Statoil amongst many more.
 
For more information visit Mar-In’s homepage www.marine-innovation.no