We are excited to announce the conclusion of a significant brand update that is being launched today. The new brand has been driven by continued business growth and success in new market areas.
Having formed 12 years ago, we set out to provide engineering services to the offshore energy markets, with a particular focus on the oil and gas and offshore renewable markets. While these markets remain a focus, their footprint has broadened where they now find half of their project wins are for onshore work, and often in emerging markets such as Hydrogen or Nuclear.
Additionally, while we still execute detailed design engineering and project services, we have seen growth in our consultancy and advisory arms of the business, particularly in the sustainable energy markets, where we are helping their clients pioneer the energy transition.
The brand update has been a root and branch exercise seeing changes to our registered name from Apollo Offshore Engineering Ltd to Apollo Engineering Consultants Ltd through to a domain name change to apollo.engineer and other brand assets to truly reflect the markets we now work in.
These changes reflect a refreshed business strategy. Ryan Menzies, founder, and our Managing Director said:
I am so excited and proud to launch our re-brand that better reflects our business, what we are doing, and where we are going. While our original brand has stood us in great stead and supported our growth to date, it did not reflect our current position and the potential we see for the future.
The energy markets are complex as we continued to grapple with the energy trilemma. In Apollo, we are expecting the oil and gas markets to remain supportive of a period of higher activity levels. We are seeing continued opportunities for our life extension and electrification capabilities, and we anticipate significant supply chain challenges in the period. This will support increased requirements of fast-track projects that help tackle short-term energy security.
Additionally, we significant growth in Offshore Renewables and the emerging energy vector markets such as Hydrogen. The new brand truly supports this breadth of capability.
Myrtle Dawes, Solution Centre Director at the Net Zero Technology Centre, commented:
We have to increase the pace of change as we strive to meet ambitious net zero targets. It’s fantastic to see companies such as Apollo pivoting their focus towards clean and renewable energy and charging forward to make the energy transition possible.
Apollo has grown organically for the last 12 years with turnover in excess of £12M and are targeting £30M as a stretch target within 3 years. This is based around a strategy that includes synergistic acquisition that could fuel accelerated growth, with a lower bound growth projection based on an organic model of £20M in the same timeframe.
Project work in sustainable energy sectors grow, and we are targeting greater than 30% of work to come from outside of traditional oil and gas within the next two years, and greater than 50% by 2030.
Dr Menzies continued;
While the markets present an exciting opportunity for growth supporting traditional O&G projects, we must continue to diversify our portfolio and build on the excellent progress we have made to date.
Offshore renewables, Hydrogen and P2X projects already account for nearly £3M of project awards so far this year alone and we must build on this at a faster pace. We will continue to explore partnerships that could help us accelerate our growth in the coming years.