Plexus Wins Northern Star Business Award

Plexus is delighted to have won the 2014 Commitment to Innovative Use of Research and Development category at the Northern Star Business Awards held on Thursday 25th September.

Brent Harrald, Engineering Manager, received the award on behalf of Plexus and thanked the team of staff at Plexus who deserved the award; going on to say “Plexus entered the market place in the mid 90’s with a new, disruptive technology in our POS-GRIP wellheads.   Since then we’ve always pushed the limits of what is considered possible, most recently with our novel HG subsea wellhead.  Innovation will continue to remain at the core of Plexus’s business for years to come”.

In a press release Ben van Bilderbeek, CEO, said “This latest award, which follows the ‘Best Oil and Gas Plc’ award at the 2013 annual Stock Market Wire Awards and the ‘Entrepreneur of the Year 2013’ award at the annual Grant Thornton Quoted Company Awards, recognises Plexus’ significant commitment to investing in research and development (‘R&D’).  As a result of this, we have developed best-in-class wellhead equipment based on our proprietary POS-GRIP® technology and in turn become the dominant supplier of wellhead equipment for the HP/HT jack-up exploration market in the North Sea. 

We continue to invest in R&D as we look to apply our POS-GRIP® technology to solve widely-acknowledged challenges in the HP/HT space.  To date we have invested £3m to develop a new and safer subsea wellhead, utilising Plexus’ patented POS-GRIP technology.  Thanks to this investment, having now finalised the design in conjunction with our industry partners, we will soon be building a prototype, and remain on track for first time installation in 2015.

We could not have won this award without the dedication and hard work of the Company’s management, fellow employees and stakeholders all of whom have played a vital role in building Plexus to where it is today and which lays such firm foundations for a very exciting future.”

 

Brent Harrald, Engineering Manager, accepts the award on behalf of Plexus