Increase profitability and production
Ship repair and maintenance facilities company, A&P Falmouth, increased their profitability, production facilities and global commercialisation opportunities after working with the University of Exeter.
Eighty per cent of increased profits were attributed to new markets exploited by a Knowledge Transfer Partnership (KTP) with the University, which also enabled the business to improve their production and load facilities by £1.7million.
With an increase in business in the marine renewable energy (MRE) sector, A&P Falmouth wanted to focus their efforts in this area. However, there were major uncertainties in developing new business and production models, as well as methods of installation and maintenance.
These problems were overcome through the expertise of Exeter academics, who helped diversify and grow A&P Falmouth's business in the MRE sector.
By exploring current technological trends, the KTP produced several exciting developments, including plans for a new production facility and greater engagement with MRE device developers.