News & Events

Embedding ESG principles to offer a fresh approach to asset repairs

Jim Beveridge, CEO

The EIC (Energy Industries Council) annual Survive and Thrive report is now available to read here. Our CEO Jim Beveridge shares ICR’s achievements and future plans as we continue to address integrity, maintenance and repair challenges for clients worldwide. Check out Page 115 of the report for more details or read the article below

How is ICR Group thriving?

ICR Group is driven by a singular vision: to revolutionise the way assets and critical infrastructure are repaired, inspected and maintained. The company specialises in preserving vital, yet often aging, infrastructure across multiple industries — from oil and gas to renewable energy, defence, nuclear and telecommunications.

The challenge

The business emerged strongly out of the covid pandemic and enjoyed an acceleration in growth. Specifically, it had three priorities to address: Reducing reliance on the UK and North Sea market by expanding overseas; curbing its dependence on oil and gas by diversifying; and becoming more relevant to the net zero agenda.

The solution

This journey has involved key product developments, aimed at reducing costs and time and supporting client carbon footprint objectives. In addition, there has been an increase in headcount – more than 80 in the past two years. We have also increased our partner network with additional locations and a greater focus on sustainability. The strategy carries clear sustainability advantages, which are the focus for CEO Jim Beveridge who joined ICR in April 2022, bringing with him a determination to embed ESG principles into the company from the ground up. Action has been decisive with the firm now operating with its own ESGcommittee and achieving silver status with ECOVADIS at its first attempt. Gold is the next target, with sustainability reports also being published to demonstrate how ESG strategies have been properly embedded into the broader business strategy.

It’s the technology that helps ICR stand out in the market. Technowrap is an innovative ICR structural, pipework pipeline repair and rehabilitation technology designed to provide significant benefits to clients in terms of cost and time savings, as well as sustainability.

This composite repair technology rehabilitates aging infrastructure without the extensive costs and delays associated with conventional replacements, allowing for operations to continue uninterrupted and avoiding costly shutdowns.

The application extends beyond pipelines to include tanks, vessels, and even underwater structures, showcasing its versatility and effectiveness across various repair scenarios.

Sustainability is at the heart of Technowrap. By minimising the need for new materials and reducing waste, it presents an eco-friendly alternative to traditional repair methods. Its capacity to reduce carbon emissions by 66% compared to conventional replacements underscores its role in promoting sound environmental stewardship.

Technowrap’s efficacy is underpinned by the use of glass or carbon fibre cloths combined with epoxy resins, offering durable repairs that can last for more than 20 years. Its global endorsement and compliance with industry standards (ISO 24817, ASME PCC-2 401, and certifications from Lloyd’s Register, ABS, and DNV) attest to its reliability and capability to withstand extreme conditions.

INSONO is a cutting-edge, non-destructive testing technique designed for inspecting composite repairs applied to metallic components. INSONO has been developed to ensure the condition and integrity of composite repairs. It offers operators and regulators in installation, long-term performance, and provides evidence supporting the life extension of the repair.

Quickflange is a revolutionary approach to flange-to-pipe connections, offering a weldless, permanent and cold work alternative that significantly deviates from conventional welding methods. This innovative system employs a modified standard flange equipped with patented internal grooves, designed for a seamless slide-over installation on the pipe end.

The Quickflange technology facilitates rapid and safe installations, eliminating the need for ‘hot work’ and, thereby, reducing associated risks and costs.  Suitable for a variety of pipe sizes, pressure classes, and materials, Quickflange not only offers up to 80% time savings but also achieves a remarkable 57% reduction in greenhouse gas emissions compared to traditional methods. This efficiency, coupled with its versatility, positions Quickflange as an environmentally friendly and cost-effective solution for industry needs.

Revenues have followed a similar pattern, providing confidence that the company’s diversification plan is working. In 2023, 40% of revenues were derived from international business outside of the UK, with 15% originating away from the traditional core client base within oil and gas. This year, the firm is expecting to grow its turnover from £42m to £50m, with a 50-50 split between UK and overseas work, and an 80-20 split between oil and gas and diversified verticals.