Following five successful years in business, specialist design and manufacturing company Kaseum Technology has been awarded the Queen’s Award for Enterprise in the Innovation category.
Recognising the outstanding achievements of UK businesses, the award is presented to Kaseum Technology for the development and commercialisation of its innovative K-Set downhole setting tool.
As the only company in the North-east of Scotland to be presented with an award in the Innovation category this year, Managing Director Paul Church is thrilled about this tremendous achievement:
“From the day we began researching and developing our first products, we were clear on our purpose and what we were looking to achieve for our clients, which we believe we continue to accomplish. That being said, it’s always a humbling experience to receive formal recognition of your efforts which tells us that we’re on the right track and we’re making a difference. It really is a testament to the commitment of every single member of the team at Kaseum, and we feel very honoured to be presented with this award.”
Formed in 2017, Kaseum Technology began with just four employees who were passionate about delivering cost-effective electro-mechanical intervention tools that did not sacrifice reliability. In late 2018, the company started developing the K-Set. This electro-mechanical downhole power delivery system could deliver up to 150,000 lbs of linear force to set plugs and packers without the need for explosive or dangerous components.
The tool uses a unique and patented disposable combined electronics and alkaline battery-package called the Power & Communication Module (PCM). This alkaline pack contains no dangerous goods and is easy to handle, transport, dispose of and can be recycled, unlike traditional chemicals, lithium batteries or explosive products.
As well as removing many of the stumbling blocks to international export, the K-Set can be used on any conveyance method and brings its clients substantial cost and ESG savings.
The K-Set proved to be the tipping point for Kaseum Technology when in 2019, following rigorous testing, the K-Set was officially launched into the well intervention market. As of September 2021, Kaseum had sold more than 300 K-Set tools and over 4,000 PCMs globally.
As of 2022, Kaseum has grown to a company of 28 employees, all based in Aberdeen. With an expanded workforce, evolving product line and funding from Scottish Enterprise, the company now occupies a 10,000 sq ft premises in Bridge of Don comprising manufacturing, research & development, a workshop and the engineering office.
Kaseum Technology will accept the Queen’s Award for Enterprise at a royal reception in July 2022 and will be authorised to fly The Queen’s Awards flag at their office and use the emblem on marketing materials for the next five years.