Ocean Kinetics will create more than 20 new full-time jobs as we undertake further expansion.
Ocean Kinetics aim is to create a "one-stop-shop service for engineering solutions", with a £1.1 million investment, which is supported with £420,000 of funding from Highlands and Islands Enterprise (HIE).
Founded in 1992, Ocean Kinetics moved into much larger premises at Lerwick Port Business Park only four years ago and are now hoping to take advantage of the downturn in the oil and gas industry by offering more for customers in sectors such as renewables and decommissioning, locally, internationally and offshore.
Ocean Kinetics currently employs 73 staff who will benefit from a new three-year training and development scheme.
Managing director and founder John Henderson said:
"By providing an innovative one-stop-shop for engineering services, we will be able to offer a single source efficient and cost effective solution to clients,"
"This will benefit new and existing customers in the renewables, utilities, marine, decommissioning and the oil and gas industry.
"The modern digital system will help us improve budgeting and cost controls within the organisation, which will increase efficiencies and reduce waste."
Katrina Wiseman, head of business growth in HIE's area team in Shetland, praised Ocean Kinetics as an "innovative" engineering company.
"There are so many engineering opportunities in Shetland, the UK and around the world, and to convert these into real business, Ocean Kinetics will power on with this latest project," she said.
"The company has a great reputation in the industry and we will continue to work with them to deliver that ambition for the benefit of Shetland as well as Scotland."
See the full story at ShetNews