Adrok announces new investments to fund expansion
Adrok, the Scottish “virtual drilling’ technology” development company has announced expansion plans which will see the company invest almost £1.8million in new staff and equipment over the next two years. Edinburgh-based Adrok has been awarded a Scottish Enterprise Regional Selective Assistance (RSA) grant of £180,000 to support the company’s investment plans. By 2015, Adrok is aiming to hire 15 new staff in Edinburgh, increase the number of crews and equipment, and further improve technology to boost its international offering. Adrok are creators of the Atomic Dielectric Resonance (ADR) scanner, which uses radiowaves and microwaves to locate, identify and map subsurface natural resources to help exploration and production companies decide where to drill for resource deposits. The company states: “Unlike traditional seismic technologies, the portability of the ADR scanner makes exploring extreme environments such as glaciers or mountains possible. It is set to transform industries also looking for greener and cheaper ways to mine and explore for minerals, hydrocarbons and commodities.” In addition to the Edinburgh expansion plans, Adrok has been building its international presence having set up a base in Perth, Australia this year. A base in Houston, Texas will open early 2013. Gordon Stove, Managing Director of Adrok said: “We have had significant growth due to business wins, as well as our investment in Australia and North America and we are now in a great position to invest further in the future of our company. This grant provides the assistance we need to build the business and ensure we can continue to service our growing client base. As a business, we want to change the way oil & gas companies and mining companies think about and experience exploration and these investment plans are the next step in what we see as a new wave for the industry.” Donald Campbell, Adrok’s Scottish Enterprise Account Manager said, “Adrok is an excellent example of a Scottish company with fantastic international growth potential and we are pleased that this grant can help them toward achieving their ambitions. Regional Selective Assistance is one of the ways in which we help companies to continue to invest in the current climate. It helps us create the right environment for companies who want to grow their businesses in Scotland, and in doing so to create much-needed jobs and positive economic growth.”
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