Role: 1216
To apply for role click HERE
Our client, Hydropower Maintenance Ltd. is already active in the Sustainability market for the Servicing and Maintenance of Hydropower systems, from large utilities to privately owned installations. This is a revenue generating business that was founded 3 years ago recognising that the shift to renewables would create a massive market for maintenance and support services. It has already begun to explore the use of AI technology to predict service and maintenance intervention, and this represents the next development stage in its growth plans.
The current owner and founder of the business wants to step back from the day to day running and focus on technology development for his other business in Hydroelectric power installations. He’s looking to bring in a seasoned CEO (Interim or Part Time) to take this business to the next level, ahead of a potential sale (there have been several enquiries in this regard already)
Likely to suit someone recently retired from a service / maintenance type business who has experience of successfully growing a service-based offering. This is a potential investment opportunity to take a stake in the company alongside the founder; to ‘flip' the business quickly to a new owner, or to develop it for the long term around automated recognition of service / maintenance intervention using the latest AI technology.
The Company:
Hydropower Maintenance Limited (https://www.hydropowermaintenance.com) incorporated in july 2021 was a spin out of the founder’s original technology company which was focused on hydroelectric solutions. It was set up to service the rapidly growing hydroelectric installation sector which until then was largely working on an “intervention when something goes wrong” process. With over 44 companies now using their services on a regular basis and many more in the wings, the company is poised for growth.
Market & Opportunity:
The global hydroelectric installation sector is forecasted to grow by 5.6% per annum over the next 5 years, which will in-turn create huge demand for service and maintenance. The opportunity in the sector is international with developed countries creating core demand today, but developing countries expected to focus on Hydroelectric in the coming years due to the more consistent nature of electricity production compared with other renewables. Africa, in particular is seen as a market that will grow exponentially.
The current owner is exploring the use of a sensor-based forecasting solution that would move maintenance intervention to being driven by use rather than time. This technology already exists in modern cars which suggest a service schedule based on mileage and driving behaviour rather than time. Transferring similar technology from the oil industry and modifying it for use in the Hydro sector plus coupling this with AI could create a monitoring and maintenance business with additional revenue streams.
With such an exciting market opportunity, it’s no surprise that consolidation amongst the limited number of players is already under discussion, and outsiders are considering it attractive too. The current owner has had some approaches to merge or sell and considers that this should not be “off the table”
Funding Strategy
The funds introduced by an investing NED(s) will be used to actively promote the existing business, generating new revenue paying clients; research technology for sensor-based maintenance and service intervention, and fund additional service staff.
Non-Exec Director Role/Requirements/Expertise:
- Entrepreneurial approach and track record. Likely to have come from a Service / Maintenance / Engineering background ideally (but not essentially) from a Hydro sector..
- Senior Manager, VP, C Suite level, with experience of remote field based operatives.
- You will have a strong conviction to a greener future and a desire to leave an impactful legacy.
- You will have experience in a high growth company and understand the challenges of running startup type operations.
- Experience of exit strategies, ideally negotiating a trade sale would be desirable.
- Knowledge of sensor based service / maintenance programmes in other industry sectors is desirable
- It is expected that the role will require approximately 10 days per month time commitment – more in the early stages.
- The Non-Executive Director / CEO will be encouraged to become a shareholder with an investment above £50k to align their interest with that of the existing Founder and Directors who are all shareholders.
Closing date for applications: Friday 3rd May 2024
