IK Group drives success of isolation technology with launch of new company
Unique isolation technology minimises production downtime
Revenue triples in two years
Global expansion with entities in Australasia ad North America
Following an exponential rise in global demand for its AOGV isolation technology, subsea and topside pipeline specialist, Aberdeenshire-based IK Group has launched Izomax, a wholly owned but separate company focused upon the isolation tool.
The only product of its kind, the AOGV utilises unique patented isolation technology to help customers mitigate downtime across the full spectrum of shutdown, turnaround and outages whilst maintaining system integrity – allowing process flow to continue.
The cost and time savings inherent in the AOGV are further enhanced by the reduction in risk of emissions spillages, mitigating that risk as low as reasonably practicable.
Four years after its first deployment, the technology, which was developed at the company’s Stavanger headquarters, reached its 100th deployment during 2022. With a client list comprising several oil and gas supermajors and multi-national NOCs, the AOGV product line will move forward as an independent, but wholly owned, subsidiary named Izomax.
IK Group CEO Eirik Berge commented: “We will continue to support Izomax wherever needed but by becoming independent, Izomax will take the AOGV technology and service delivery to new heights with enhanced customer focus and engagement.”
Rune Sele, VP Izomax, adds: “The launch of a stand-alone company allows us the freedom to rapidly evolve our solutions-oriented technology globally, with a laser focus. We are already enhancing our technologies and tool fleet to meet demand, whilst opening offices in Australasia and North America. We are seeing exceptional growth with our revenues tripling in the last two years, in addition our organisation has tripled in size, and our customer base is evolving at pace.
“However, we will retain a bond with IK Group whilst wholly focusing on the Izomax business and expansion plans, and we have a huge admiration for the team at IK Group – not least for the investment, support and encouragement that has brought us to this exciting new stage in driving our company forward.”
Published: 13-03-2023
