HLP secures private investment to complete new ring crane development
Offshore windfarm logistics provider, Heavy Lift Projects (HLP), has secured additional funding from private investors, Capercaillie (Investments) and Giles W Pritchard-Gordon & Co. The company has also opened its first office in Edinburgh.
The multi-million pound investment will be used to complete engineering work on the company’s first project, a new design of ring crane for assembling and loading offshore windfarm components.
Capercaillie Investments is an investment vehicle managed by Hal Salvesen of the Salvesen family, well known in shipping and logistics over many years. Giles W Pritchard-Gordon & Co is the holding company for the Pritchard-Gordon Group of companies that includes Pritchard-Gordon Tankers one of very few fully integrated British tanker owning and operating companies. Pritchard-Gordon Tankers’ Director Henry Keane and Hal Salvesen both join the HLP Board.
HLP was founded in 2021 by Alexander Fyfe to bring a fresh approach to offshore windfarm logistics at a time when the equipment and expertise needed to meet the boom in installation is being stretched by a lack of capacity.
The company is in advanced discussions with a number of major windfarm developers looking to manage costs and maintain safety while enabling them to meet schedules for windfarm development and deployment. HLP’s improvements will reduce crane mobilisation time for component assembly and marshalling and include an overall component logistics solution to help ports keep pace with increased demand.
“The offshore windfarm market is witnessing stellar growth but developers face challenges, requiring more and larger crane capacity to meet projected demand, as well as cargo vessels and other support equipment,” said HLP Managing Director Alex Fyfe. “Costs are rising but cost is not the biggest issue, rather it’s a shortage of the right installation equipment. HLP believes innovative thinking is needed to provide the new technology solutions that can enable growth to continue.”