WINDCAT WORKBOATS LIMITED
Offshore energy crew transfer and support vessels.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 Valuation: €0.0 | round | |
* | N/A | Growth Equity non VC | |
| Total Funding | 000k | ||
| GBP | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
|---|---|---|---|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % growth | (23 %) | 27 % | (8 %) | (12 %) | 8 % | 8 % | (8 %) |
| EBITDA | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % EBITDA margin | (2 %) | 19 % | 20 % | 8 % | 5 % | 16 % | 12 % |
| Profit | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % profit margin | (6 %) | 13 % | 12 % | (2 %) | (6 %) | 8 % | 6 % |
| EV | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
Source: Company filings or news article
Windcat Workboats Limited, founded in 2002 by Robbert van Koperen, Willem van der Chambe, and Neil Clarkson, specializes in the ownership and operation of offshore crew transfer vessels (CTVs). The company is a joint venture between the Van der Chambe and van Koperen families and the Belgian shipping group CMB. Windcat Workboats primarily serves the offshore wind industry but also caters to the oil and gas markets and other offshore projects. The business operates a fleet of over 55 vessels, which have been used in the construction and maintenance of numerous offshore wind farms across Europe and have recently expanded to the US and Asia.
The company's core service is providing safe and efficient transportation for personnel and equipment to and from offshore installations. Its business model revolves around chartering these specialized vessels to major energy companies and construction firms. A significant milestone was the introduction of the world's first hydrogen-powered CTV, the 'Hydrocat', in 2022, developed in partnership with CMB's clean technology division, CMB.TECH. This vessel uses a dual-fuel hydrogen injection system, which significantly reduces CO2 emissions. In 2023, the company, in a joint venture with TSM and FRS, won a 10-year contract to provide three new-build CTVs for the Saint-Brieuc offshore wind farm in France.
Windcat Workboats has also diversified its services to include Service Operation Vessels (SOVs) through its sister company, Windcat Offshore. Furthermore, the company has established joint ventures, such as one with the Taiwanese company Gallant Ocean, to expand its presence in the Asian offshore wind market. Keywords: crew transfer vessels, offshore wind, CTV, hydrogen-powered vessel, marine services, offshore energy, vessel chartering, wind farm support, maritime logistics, dual-fuel technology