Subsea Micropiles Secures £9.2m to Boost Scottish Operations
Deal News | Feb 27, 2025 | Scottish National Investment Bank Plc
Subsea Micropiles Ltd, a leading innovator in marine anchor technology, has secured £9.2 million in a funding round to further develop its innovative technology and expand its operations in Scotland. The Scottish National Investment Bank committed £6.7 million, and Marubeni Itochu Steel Inc. contributed £2.5 million. Subsea Micropiles' unique marine anchor system is set to reduce costs and environmental impacts of large offshore construction projects, particularly in the burgeoning floating offshore wind industry. The funding aligns with Scotland's strategic commitment to its offshore wind supply chain, as articulated by Deputy First Minister Kate Forbes and the Scottish National Investment Bank. Subsea Micropiles, based in Dublin with operations in Banchory, Aberdeenshire, plans to build a manufacturing facility in Scotland, easing supply chain bottlenecks and reducing import needs.
Sectors
- Renewable Energy
- Marine Engineering
- Investment Banking
Geography
- Scotland – The expansion and development of Subsea Micropiles' operations are focused in Scotland's offshore wind market.
- Japan – Marubeni Itochu Steel Inc., a participant in the funding round, is based in Japan.
- Ireland – Subsea Micropiles is headquartered in Dublin, Ireland.
Industry
- Renewable Energy – The article focuses on the expansion and development of technology for the offshore wind industry, a key segment of renewable energy.
- Marine Engineering – Subsea Micropiles is involved in developing marine anchor systems, which pertains to marine engineering.
- Investment Banking – The Scottish National Investment Bank's participation in the funding round places it within the investment banking sector.
Financials
- £9.2m – Total funding secured by Subsea Micropiles to expand operations in Scotland.
- £6.7m – Investment by the Scottish National Investment Bank in the funding round.
- £2.5m – Investment by Marubeni Itochu Steel Inc. in the funding round.
- £500m – Scottish Government commitment to invest in the offshore wind supply chain over five years.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Subsea Micropiles Ltd. | Target Company | Company | An innovator in marine anchor technology focusing on reducing the environmental impact of offshore construction. |
| Scottish National Investment Bank Plc. | Lead Investor | Company | A development bank investing in projects that advance Scotland's strategic priorities, including net zero and innovation. |
| Marubeni Itochu Steel Inc. | Co-Investor | Company | A Japanese steel company co-investing in the funding round to support Subsea Micropiles. |
| Scottish Government | Support | Government | The government facilitates strategic investments in the offshore wind supply chain. |
| Derek Robertson | CEO | People | CEO of Subsea Micropiles, leading the company's strategic expansion. |
| Laura Fidao | Investment Director | People | Investment Director at the Scottish National Investment Bank, supporting strategic investments. |
| Kate Forbes | Deputy First Minister | People | Deputy First Minister of Scotland, responsible for supporting the strategic offshore wind sector. |
| Makoto Ishitani | President & CEO | People | President & CEO of Marubeni Itochu Steel Inc., co-investing in Subsea Micropiles. |