Prime Highlights:
- SMD has opened a new £3 million subsea technology facility in the North East to boost innovation and growth.
- The facility will create jobs, support skills development, and strengthen the region’s position in offshore and subsea industries.
Key Facts:
- The facility houses SMD’s innovation division, including a test tank and development labs for subsea research.
- SMD aims to surpass a headcount of 300 and reach a £150 million turnover by 2030.
Key Background:
A new £3 million subsea technology facility has officially opened in the North East, marking a significant step forward for innovation and job creation in the region. The facility is part of SMD’s ongoing growth strategy as the company surpasses a headcount of 300 and works towards a target of £150 million turnover by 2030.
Over the years, SMD has introduced 12 world-first technologies to the market, and the new facility is designed to ensure the company remains at the forefront of subsea engineering and innovation. The new facility will have SMD’s innovation division with a test tank and labs to improve subsea research.
Bruce Shepherd, chairman of Shepherd Offshore, welcomed SMD to Neptune Energy Park, saying the investment highlights the River Tyne’s strong reputation worldwide. He emphasized that Shepherd Offshore’s focus has always been on building infrastructure, partnerships, and skills that enable businesses to thrive.
Shepherd said SMD coming to the area will bring new jobs, boost innovation, and strengthen the North East’s role in offshore and subsea work. He added that they are excited to support SMD as the company grows along the Tyne.
The opening of this facility strengthens the North East as a center for subsea and offshore expertise. Investing in new technology helps the local economy and keeps the region strong. With this growth, SMD will improve subsea technology and create more local jobs.
