Marine tech company, Feritech Global, receives a King's Award for Enterprise
by Lynn File 21 Apr 2023 00:53 PDT
Feritech Innovation Centre near Falmouth © Feritech Global
The team at Feritech Global are celebrating after the announcement from Buckingham Palace that they will receive a King's Award for Enterprise for their outstanding success in international trade.
The award will be presented by the Lord Lieutenant of Cornwall, Colonel Edward Bolitho OBE, at a special ceremony at Feritech's Innovation Centre in Falmouth. Feritech has also been invited to a reception with His Majesty The King at Buckingham Palace in the summer.
The King's Awards for Enterprise (previously known as The Queen's Awards for Enterprise) is an awards programme for British businesses and other organizations who excel at international trade, innovation, sustainable development or promoting opportunity through social mobility. They are regarded as the highest official UK awards for British businesses.
Feritech Global Ltd was founded in 2015 by Rob Ferris and Gemma Ferris. It is an advanced engineering company specialising in designing and building products that are used in extreme marine environments. The company built its reputation by carrying out marine geotechnical surveys. This involves going out into deep oceans and sending down specialised electronic systems to conduct tests to work out certain properties of the ocean floor. This is vital information for clients who want to install infrastructure out at sea, such as wind, tide or wave turbines, power cables or pipelines.
Before being named a winner of the King's Award, Feritech Global had to undergo a rigorous assessment process, including a detailed audit of their financial figures. The company won the King's Award for International Trade for Outstanding Short Term Growth in overseas sales over three years. In the period under review, Feritech demonstrated overseas earnings growth of 1,210%. The company trades in more than 40 countries around the world, including the USA, France, Germany and Singapore.
Commenting on the award, Managing Director, Rob Ferris, said:
"This is a huge honour for our business and fantastic recognition for our dedicated team and all their hard work. When we founded Feritech, we challenged ourselves to develop world-leading products that would set new standards in our industry. That approach has served us really well, and we now have the privilege of working with great customers around the world."
Due to its rapid international growth, Feritech has opened its own purpose-built Innovation Centre near in Cornwall, which is one of the most advanced facilities of its kind in the UK.