Aberdeen-based Maritime Assurance & Consulting Ltd (MAC) has expanded into the renewables sector for the first time by securing a significant contract with Inverness-based AWS Ocean Energy Ltd.

The project, worth an estimated £170,000, will see MAC provide a concept review and detailed design of a test rig to the wave energy specialist – which recently secured major investment from one of the world’s leading power generation and transmission companies, Alstom, to expand its operations and accelerate development of its innovative wave power technology.

Securing the AWS contract is the latest chapter in a successful opening eight months in business for MAC – which was established in January 2011 by Graeme Reid.

Further recent deals, totalling a combined £230,000, within MAC’s core areas of expertise – marine and dynamic positioning assurance and consulting – have been signed with companies including Technip and Oceaneering, the latter being a six-month DP vessel conversion project in the Gulf of Mexico.

Initial first-year turnover predictions for MAC had been around £650,000, but with the continued success and growth of the company to date, this figure is now expected to exceed £1.2million. MAC has also further increased its workforce in the past three months, with five new members of staff taking the current headcount to 14.

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Managing Director, Mr Reid, says he has been very pleased by the rapid growth of the company and greatly encouraged by the interest in MAC’s services from local, national and international businesses.

He said: “This first move into renewables is very significant for our business as it fits nicely with our core expertise of naval architecture, structural engineering, marine operations and electro-mechanical disciplines. The project with AWS – one of Scotland’s pioneering wave energy companies – is our biggest single contract to date and demonstrates our ability to apply our skills and experience to the alternative energy sector, which has obvious synergies with the offshore oil and gas and marine industries.

“The future for MAC is looking extremely positive. Although we are still a relatively young company we are continually increasing our range of services, expanding the geographical areas in which we operate and adding to our in-house expertise.

“The first eight months in operation have definitely exceeded expectations but we are confident of building on this initial success during the remainder of 2011 as demand for, and awareness of, our services continue to grow.”

Simon Grey, chief executive of AWS Ocean Energy said: “We are very pleased to bring MAC on board and we believe their input will make a valuable contribution to the development of our AWS III wave power device. This contract and others like it underline the economic benefits that marine renewables can deliver for the Scottish economy, as we and others begin to commercialise our technologies.”

Maritime Assurance & Consulting Ltd is based within Victoria House at 259 Union Street and is a member of the International Marine Contractors Association. The company provides a comprehensive range of consultancy and support services to the worldwide marine, construction, drilling and floating production industries.

(GK)