HonuWorx has announced the appointments of Steven Gray as Chair of its board of directors and Alan Shanks to the role of CFO.
HonuWorx is a next generation remote robotics company that is changing the way the world works subsea through progressively autonomous systems.
The company recently moved into a new HQ at Aberdeen’s Energy Transition Zone.
As founder and former CEO of ROVOP, Steven led the growth of the largest independent ROV operator globally, assembling a fleet of 50 Remotely Operated Vehicles, employing over 250 people.
Alan Shanks is assuming the CFO role in a fractional capacity, having supported the company as an advisor since incorporation.
Previously, Alan was the Finance Director and CFO at Integrated Subsea Services, Ltd and ROVOP, respectively, as they built from start-up to private equity, and up to $100 million valuations.
HonuWorx has developed a suite of technologies that will allow subsea work in future to be completed with no surface vessel of any kind, with zero carbon emissions during the mission, zero personnel offshore, and at greatly reduced cost.
This will contribute meaningfully to the energy transition, both reducing the levelised cost of energy from offshore wind, and directly avoiding emissions for large support ships.
The company recently announced its decision to commit its long-term future to Aberdeen by choosing to locate its headquarters in the W-Zero-1 Building in the Wind Campus of the Energy Transition Zone.
The company currently has 12 employees with plans to treble that in the next two to three years whilst targeting upwards of £30 million inward investment to support its growth plans.
Steven Gray, HonuWorx Chairman, said: “It is an honour to Chair HonuWorx during what is a hugely exciting time for the subsea industry and opportunities are vast. Under the stewardship of Chief Executive Lee Wilson, our team has a proven track record in delivering pioneering commercial underwater robotics.
“The convergence of technological advances in energy storage, fast communication, autonomy and navigation, as integrated and patented by HonuWorx, can structurally alter the economics of ROV operations and bring about a new era for the sector.”
Lee Wilson, HonuWorx Chief Executive, said: “We are delighted to have Steven on board as Chair and Alan moving into a formal CFO role as we continue to put together a world class team.
“Being able to attract the likes Steve and Alan really underscores the credibility of what we’re building here as we seek to up-end legacy models for working underwater. Their respective experience and insights will be crucial as we enter a period of significant growth and investment.
“These key appointments and the recent commitment to new headquarters in Aberdeen, provides us with the ideal platform for success and I’m confident 2024 will be transformational for the company.”