Pitch for Investment

HonuWorx goes subsea, offering game-changing, emission-reducing, economy-boosting tech.

Published: 21st February 2024

UKI2S > News > HonuWorx goes subsea, offering game-changing, emission-reducing, economy-boosting tech.

COP28 Spotlight

NetZero by 2030. Responsible investment. Environmental action. Social inclusion. Impact-first – that’s the mission. The driving force behind UKI2S.

In line with COP28, it’s time to show you how we’re working with innovative startups to facilitate the change we all want, and need, to see.

HonuWorx

HonuWorx uses ingenious tech to deliver zero-emission underwater operations and underpin the sustainable growth of clean energy sectors such as offshore wind sector. Gone are the days where highly polluting and costly large crewed vessels are needed to transport remotely operated vehicles (ROVs) to offshore worksites!

With global efforts to tackle climate change ramping up, the commercialisation of offshore wind presents a long-term, sustainable solution.

Unfortunately, decommissioning legacy oil and gas infrastructure gives little return to asset owner investment, so it’s crucial that the offshore wind sector is profitable despite challenging margins and without subsidy. A reduction on costs would facilitate an increase in decommissioning assets, whilst decreasing environmental issues.

That’s where HonuWorx’s technology comes in; It can deliver the same subsea robotics service that users experience today, but with a 50% lower cost base than existing models, 100% reduction in personnel offshore and up to 100% reduction in carbon emissions compared to legacy offshore support vessels.

HonuWorx’ mission aligns with SDG’s...

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For every oil fuelled support vessel that HonuWorx replaces, up to 30 metric tonnes of carbon emissions are prevented each day. Annually, it’s the equivalent of 4000 average family cars.

By relocating the crew to the safety of shore, the technology also removes risks to human health posed by the hostile marine environment, and opens up highly skilled robotics operations roles to groups that were historically underrepresented in the offshore sector.

By reducing the complexity and capital cost of the launch vessel, HonuWorx can compete with a far lower cost base than legacy approaches, and internalise significant margins.

With access to, and control over, energy sources a significant concern in global geopolitics, working underwater with a reduced surface footprint is a secure way for the UK forces and its allies to protect national infrastructure and shipping routes.

HonuWorx’s tech enables the safeguarding of such underwater communications, oil pipelines and electrical cables, with minimal surface footprint.

UKI2S are excited to back HonuWorx and their novel tech which addresses significant climate concerns, helping to safeguard sustainable energy infrastructure and increase national climate and supply chain resilience.

50% reduction in operating costs
100% reduction in emissions at sea
100% reduction in personnel offshore
400 tons of CO2/trip = now 160 tons*
$4 billion = global impact

*Please note these are potential figures.

Lee Wilson, HonuWorx Chief Executive Officer:

“We are delighted to have the backing of the UK Innovation & Science Seed Fund as we continue to hit key milestones on our mission to help support and safeguard multiple blue economy sectors. It’s fantastic to see public bodies acknowledging, and most importantly promoting, the vast range of clean energy, defence and economic advantages that working subsea presents.”
UKI2S

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