ROVOP (www.rovop.com), an independent operator of underwater remotely operated vehicles (ROVs), has increased its fleet by 50% to meet customer demand, following a £56 million funding boost.

Blue Water Energy and the Business Growth Fund (BGF) are supporting ROVOP’s ambitious growth plans, which include creating up to 80 jobs.

The company has bases in Aberdeen and Houston, currently employs more than 180 people and now operates 24 of the world’s most advanced ROVs.

Since being founded by CEO Steven Gray and chairman Mark Vorenkamp in 2011, ROVOP has focused on providing ROV services to the oil and gas, offshore wind, telecoms and power transmission industries.

Mr Gray said: “The past few years have seen customers recognise the difference in our quality of service. This latest investment allows us to deliver this service to more customers, especially in the USA.

“With BGF’s support, we have already established ourselves as a leading specialist in our field.

“The new partnership with Blue Water Energy will accelerate our plans to become the leading independent ROV company.

“As part of this new company chapter, Mark Vorenkamp is taking the opportunity to retire from the company, and I’d like to thank him for his enormous contribution to ROVOP over the past six years.”

The BGF first invested £10.6 million in ROVOP in April 2015, and it has since supplied additional funding on two occasions to grow the fleet.

Mike Sibson, who leads the BGF’s Aberdeen office, said: “Our strategy is to continue to invest in our most successful businesses, and we are delighted to welcome the Blue Water team on board.

"ROVOP has weathered the storm caused by the oil industry downturn — by providing the best equipment, the best people, and the best service to customers who need high reliability and efficiency.”