People’s Champion Finalist: Feritech
Should this impressive subsea engineering products and services company win the Startups Awards People’s Champion title?
Start-up name: Feritech
Founder: Robert Ferris, 35, Gemma Ferris, 31
Started in: 2012
Based in: Falmouth, Cornwall
Business description: Subsea engineering products and services
While working for a survey service company, entrepreneurial couple Gemma and Robert Ferris were left underwhelmed by after-sales service and support in the offshore industry.
They resolved to do something about it and with 22 years of experience they launched Feritech. The Falmouth-based provider of products and services for renewable energy, geophysical survey and oil and gas clients, may only have started in 2012, but their assertion about the industry has already been proved right.
With less than two years of trading under the company’s belt revenue and profits growth make Feritech an engineering company worth keeping an eye on.
Feritech sells and rents equipment for subsea and harsh engineering environments as well as manufacturing and designing bespoke engineering solutions to match client’s requests.
“All our equipment is designed, manufactured and supported in-house at our marine base near Falmouth in Cornwall, England. Feritech has three distinct business activities all revolving around subsea engineering and survey operations: harsh environment product design, development, manufacture and operation.”
For those with some knowledge of the sector, these products include “geotechnical survey equipment, including vibrocorer, gravity, piston and box corers”.
And Feritech manufactures “all manner of geotechnical consumable products” too, the names of which most of us are never likely to hear in general conversation. What they’re called isn’t key here. What is is the evidence that there is considerable demand for Feritech’s manufacturing expertise, the engineering products, consultancy, and after-sales services.
The company’s mission statement is as follows: “To design and create ingenious solutions to engineering problems, that seamlessly integrate the user with their task, make complex operations appear simple, safe, reliable, environmentally responsible, affordable, and to offer superior global support.” It’s a statement the company is living up to so far.
Why Feritech made our 50:
Undeniably high standards have also been recognised with ISO 9001 and 14001 accreditations and in such a global industry, it seems inevitable Feritech will have success beyond domestic shores.