Tech spin-off of subsea player Rovco, Vaarst, was formally launched today, saying it aims to revolutionise the offshore robotics sector.
Vaarst said it will leverage intelligent data flows for smart asset management to create an energy-efficient and more sustainable future.
The business’ technology should enable marine and subsea providers to deliver AI-driven autonomous robotic work at scale.
Vaarst will target the energy and marine sectors through its innovative technologies, such as SubSLAM X2 data collection system.
The new spinout company is predicting immediate 2021 revenues over £1 million rising to over £20 million in the next few years.
Brian Allen, Vaarst CEO and founder, said: “Autonomous robotics are the key to reducing the cost of offshore operations. At the same time, digitalisation of field assets is essential as the industry evolves, marrying these two concepts is needed to realise the real benefit of modern tech. It’s the data that has to drive the vehicles. Vaarst is committed to unlocking the potential of offshore robotics for all.”
Vaarst will operate globally, with headquarters in Bristol, and has 29 employees with plans to grow to more than 70 by end of 2022.
“Future plans will see Vaarst take its offering to the wider industrial robotics global markets in sectors such as mining, construction, farming and land survey,” the company said in a statement.