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2024 has been one of remarkable growth for Sulmara, with 120 new team members joining us from around the world. In support of this, we launched the rebranding of our HR forum to HEAR, which reinforces our commitment to open communication and employee well-being.
Our team rose to the Sulmara Movement Challenge for mental health, raising vital funds for charities by participating in a range of activities, from 5-a-side tournaments to the Banchory Beast race. Charities that benefited included some local efforts in Scotland - Kindness Homeless Street Team Glasgow and Abernecessities, an Aberdeen-based baby bank that provides disadvantaged families with the essential and basic necessities that no child should go without.
During 2024, we’re proud to have achieved independent verification of Carbon Neutrality in accordance with the BSI PAS 2060:2014 standard, which verifies Sulmara’s statement on carbon neutrality, carbon management measures, and offsetting activities.
We also strengthened our engagement with future generations by partnering with schools for the Greenpower STEM challenge, inspiring and providing students with the facilities to design, build, and race electric cars. Additionally, we continued to nurture new talent through our Graduate Programme and sponsored the 12-week British Chamber of Commerce Taipei and UK Renewables Committee Internship Programme.
In terms of business performance, 2024 was a standout year. With over $70 million in revenue - nearly doubling our figures since 2022 - it has further solidified our position in the market. This performance was supported by a growth in our diverse client base and vital backing from partner, BGF, who announced an $18.9 million investment in the company in November to support the next phase of our growth.
Our expertise and industry knowledge shone through in several major projects. Our first long-term charter vessel has been engaged on a high-specification site characterisation project on the US East Coast with Ørsted marking the largest site campaign since our inception, showcasing our capacity to deliver at scale and progress the business is making year after year.
An innovative survey for a major offshore wind EPCI client was another standout achievement, where a shore-launched long-range AUV covered 80 offshore cable routes in just 14 days - all without the need for a support vessel. This pilot project with our technology partner, Andruil Maritime, is not only exciting for Sulmara, but for the industry as a whole as it paves the way for changes to how site investigation projects are delivered and will help further reduce carbon emissions.
Other key successes included securing further contracts with Ørsted on both sides of the Atlantic, a range of other European project executions, locating and mapping previously "undetectable" cable in an extremely challenging environment in Turkey, and working on the Yulin OWF project in Taiwan, all the time delivering high-resolution solutions for our clients.
Our ability to use uncrewed technology to support challenging and dynamic requirements was never more evident than when we were called on by the Taiwan government to provide a rapid response to support a recovery operation for a heavy lift vessel that ran aground during a typhoon. By developing one of our uncrewed surface vessels, a WAM-V 16, we helped to complete the salvage operation and prevented harmful spills within a Taiwanese national park.
For 2025 and beyond, we will remain committed to pushing the boundaries of technology and sustainability. Advances in net-zero technologies and improvements to our autonomous and uncrewed solutions are reshaping what’s possible in subsea operations.
Developing and utilising advanced geophysical technology will allow us to do more for our clients - providing more useful information and enhancing datasets acquired offshore. Reducing our carbon footprint remains a top priority, and we’ll achieve this through the use of more efficient assets, optimised operations, and an unwavering commitment to adopting new technologies.
We’ll expand our capabilities with new USV and AUV proof-of-concept projects, including over-the-horizon, multi-day operations that will unlock new markets. We’re also helping to develop the next generation of autonomous subsea vehicles - designed to be more durable, efficient, and sustainable.
In addition to technological and operational advances, we’ll continue our focus on supporting our people and communities through personal development initiatives, volunteering opportunities, and global competitions - all of which help us stay connected, inspired and committed to making a positive change in our industry and the world around us.
2024 was a year of significant progress, growth, and achievement for Sulmara. As we look ahead, we’re excited to continue building on this positive momentum to innovate, expand, and lead in the renewables industry. Thank you to our exceptional clients, partners, and dedicated team for making this year such a great success, and we wish you the best for 2025.
