Acing Innovation

Ace Aquatec, a leading company in acoustic systems for marine and aquaculture application and electric stunning systems for fish farms, has achieved a 50 per cent year on year growth in turnover since 2012. Next year it’s on track to turnover approximately £1.5 million, whilst in employee numbers, it is considered a small business.

Innovation is at the heart of everything Ace Aquatec does. It has a rolling programme of research and development and invests between 20 to 40 per cent of its turnover into R&D each year, which coupled with a SMART:Scotland grant, enables it to improve its deterrent systems and seek new markets.

It hopes to increase exports to 20 per cent of its overall products and services, as it targets new markets in Denmark and Norway.

Nathan Pyne-Carter, Managing Director of Ace Aquatec, said:

“A lot of our resources go into R&D, for which we get support from funding bodies including Scottish Enterprise, Business Gateway Fife on behalf of Fife Council and SMART:Scotland, as well as support from advisory bodies including Scottish Development International and the Enterprise Europe Network.”

Ace Aquatec has been working closely with Business Gateway Fife to secure business advice and funding. A grant from the Fife Investment Fund enabled the creation of animated footage of Ace Aquatec’s new deterrent system. It showcased the video at the Aquaculture UK Trade Show, which it was supported to attend by Fife Council Economic Development’s Market Development Programme.

Nathan added:

“The local network support we’ve had has been amazing. To get an outside perspective from business advisors at Business Gateway Fife, Scottish Enterprise and Scottish Development International has proved extremely beneficial and has certainly helped to create opportunities in the UK and beyond.”

Ace Aquatec, which won the Scottish Aquaculture Innovation Centre’s 2016 award for Innovation, is managed by Nathan and its work is done through sub-contractors, supplying its customers with rental packages. The business will move into Guardbridge Innovation Centre towards the end of this year/beginning of next, at which time, it will recruit four members of staff.  www.aceaquatec.com

Business Gateway Fife provides a range of services to new and established businesses in Fife. If you require assistance on finance, strategic direction, leadership skills or are perhaps looking to move into new markets, then we have the expertise to assist.  To find out more, call 01592 858 333 or email info@bgfife.co.uk