Subsea Technology Firm Beam Collapses, Putting 200 Jobs at Risk
Beam, a subsea technology company created through the merger of Rovco and Vaarst last September, has fallen into administration and made all staff redundant. The company, which employed around 200 people across offices in Edinburgh, Westhill, and Bristol, had been looking to hire an additional 150 employees in the UK before its collapse.
While Beam has not issued an official statement regarding its administration, a LinkedIn post from James Reynolds, the company’s head of talent acquisition and crewing, confirmed that all employees had been made redundant. “Today marks the end of Beam … as of today, all employees have been made redundant,” Reynolds wrote.
Helen Batt, Beam’s vice president of marketing, also shared her thoughts on LinkedIn, saying, “The company that over 200 incredibly talented people gave their all to – delivering technology to drive the energy transition – is no more.”
Beam specialized in using artificial intelligence and automated technology on robotic ships and underwater vehicles to service offshore wind farms. The company had been gaining recognition in the tech industry, ranking 40th in The Sunday Times 100 Tech list in January. It was also reportedly seeking to raise over £100m late last year.
The news of Beam’s collapse comes as another blow to the North Sea services sector, following Enteq Technologies’ administration filing earlier this week. However, Aberdeen-based undersea tech firm Rovtech has stepped in to offer some support to former Beam employees. Chief executive John Polson stated that the company would extend job applications for several Aberdeen-based roles to give former Beam staff a chance to continue their careers.
“My thoughts are with all those affected during this difficult period; many of whom I know personally having worked with them over the last few years,” Polson said. “Understanding that job loss brings a wave of uncertainty, we are extending our applications for several Aberdeen-based roles.”
The collapse of Beam serves as a reminder of the challenges faced by companies in the energy sector, particularly those involved in the energy transition. As the industry continues to evolve, companies will need to adapt to remain competitive.
