Deep ocean firm receives funding to explore depths
A COMPANY which retrieves objects from the bottom of the ocean has received £1.3m to to develop a new method of lifting massive underwater objects.
Leeds-based Deep Sea Recovery has received the grant from the Technology Srategy Board (TSB).
The award will allow DSR to work with a number of companies and the University of Southampton as part of a consortium to develop new innovative technologies for underwater lifting.
The objective of the project is to investigate the use of lightweight materials in the construction of a lifting system called a 'Lightweight Cryogenic Marine Heavy Lift Buoyancy System'.
The materials selected must be capable of performing at high pressures and within a temperature range of -200C to 50C.
The system is aimed at construction and decommissioning of offshore platforms; naval applications, including submarine recovery; salvage; and the positioning of offshore renewable energy facilities.
DSR, which aims to capture 5% of the North Sea decomissioning market, valuing the company at £100m within the next seven years, claims the system has never been previously attempted. DSR is lead partner in the project and holds patents on the buoyancy system.
The Technology Strategy Board is a business-led executive non-departmental public body, established by the Government.
It aims to promote and support research into, and development and exploitation of, technology and innovation for the benefit of UK business, in order to increase economic growth. It is sponsored by the Department for Innovation, Universities and Skills (DIUS).
