Utility Scale Marine Tidal OEM

Country: UK
Assignment Type: Start Up Development

General Management

Description

Interim Managing Director, P & L responsible, managing a start-up business through a critical phase of development (end of design, build, test and deployment)

Achievements:

  • Business completed design, build and on shore test phases, first pin foundation deployment achieved

  • Business sucessfully refinanced, most service and some component contracts renegotiated (typically £1M for a service contract)

  • Myriad technical, operational and legacy issues resolved to ensure progress

As Interim Managing Director, I ran a near start up (zero turnover, part funded by Innovate UK) tidal energy business through a period of intense technical, organisational and financial development and change. This included embedding the cultural and behavioural changes needed to move from being a start-up, R&D business to a plc operating unit.

I focused the business on the transition from design to first-of-type production (all parts and equipment were subcontract manufactured), managed conflict between resource requirements, set clear priorities and filled in the technical gaps that are to be expected in a small company.

I put practical commercial frameworks into place, particularly with marine services suppliers. With others, I managed the refinancing of the business as well as closed many complex legacy issues.

I managed myriad one off technical/commercial issues as well as the interface with the industrial backer, all in a very complex political context. I eliminated paralysis in decision making.

The business was later (after my time) sold for over £40m with its technology proven.