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Engineering firm and leading provider of fastener inspection services to the wind sector.
Business profile
Start-up already operating in Offshore Wind sector.
Undertaking research and design of BoltWatch software technology.
Actively seeking a different delivery model to bring BoltWatch to a larger market.
Support recieved
Grant Funding
Solutions for the offshore wind industry
Reduces maintenance costs of wind turbines by over 80%.
Results in decreased downtime and higher revenue for operators.
Improves operators’ health and safety performance by reducing the duration of annual asset maintenance and eliminating risks with hydraulic tooling.
A closer look at EchoBolt
Bolt tightening is the single biggest scheduled maintenance task in Offshore Wind operations. EchoBolt’s innovative software, BoltWatch, removes this time- consuming and expensive process by allowing customers to view the status of their assets in real-time and retrospectively, using a digital analytics platform accessed via a cloud portal. Working with major players across the Offshore Wind sector, EchoBolt has drastically improved maintenance practices by removing costly re-torquing maintenance tasks, validating asset integrity and confirming the effectiveness of installation practices.
Impact of the support
Commercial licensing of EchoBolt’s ultrasonic bolt inspection software, BoltWatch.
Expansion of contracts to cover more than 20% of the UK’s Offshore Wind capacity in 2022.
Estimated 30% increase in turnover for the next 12 months.
Before
Prior to engaging with OWGP, EchoBolt was a start-up SME operating in the Offshore Wind sector. The company conducted routine on-site inspections for clients, followed by periodic reporting of asset integrity.
EchoBolt sought access to a larger share of the market with its ultrasonic inspection technology, BoltWatch – an internal data analysis software tool without a customer interface.
During
After securing funding through OWGPʼs grant funding programme, EchoBolt embarked on a project with ORE Catapult to conduct a market assessment and cost reduction analysis of its inspection technology, clearly identifying the requirements to facilitate a self-perform feature for customers as a value driver for its growth. Working with major players across the renewables sector including RWE and SSE Renewables, user requirements were mapped and software development targeted to overcome customer pain points, resulting in a software product truly optimised for the sector.
After
OWGPʼs support has been instrumental in enabling EchoBolt to expand in the offshore wind sector and license its services. The company has since won significant new business, now covering over 5GW of wind capacity and working directly for most of the leading offshore wind operators.
The EchoBolt team has continued to go from strength to strength, with a diverse workforce of fifteen employees covering site services, engineering, software development and business management.
“Support from OWGP has been invaluable in supporting EchoBolt’s growth. Through the development of the BoltWatch asset health platform, we can now support customers delivering EchoBolt technology directly, and have been able to embed our technology within strategic partner service offerings.”
