21 Sep Success: Decom wins global contracts
Congratulations to our portfolio company, DECOM Engineering, on securing a “pipeline of multi-million-pound global contracts.”
This follows the completion of previous investment rounds, which included support from private investors and HBAN (Halo Business Angel Network) amongst others and R&D grant support from Invest Northern Ireland
Keep up the good work Sean Conway and team!
From the Belfast Telegraph:
Co Tyrone engineering firm Decom said it’s secured “a pipeline of multi-million-pound global contracts” after receiving more funding.
The company, which is headquartered in Cookstown and recently opened a base in Aberdeen, has developed world-first technologies in pipe cutting, coating and removal, to help the process of decommissioning the energy sector.
Now it will take that technology to more continents after follow-on investment from Co-Fund NI and HBAN, which will fund operations in Thailand, Malaysia and Canada.
Decom Engineering has previously secured £2m of investment from Co Fund NI, HBAN and private investors. It then invested over £700,000 in research and development, and with R&D support from Invest NI, it has developed its technologies to replace traditional processes.
Founded by Sean Conway, his father and brother in 2012, Decom currently has a 14 staff.
Mr Conway said: “We’re delighted to secure the funding to get our products out in the field and demonstrate how this technology will transform decommissioning in the energy sector.”
Ian Bailey, HBAN business angel and chairman of Decom, said: “We hope to continue to support the Decom leadership through this period of growth as they dive into new possibilities.”