Finance News

Fulkrum Celebrates a Strong Year and Forecasts Continued Growth in 2023

Fulkrum, a leading provider of inspection, expediting, auditing, and technical staffing services to the energy industry, has reported a successful 2022. Strategic expansion and key global appointments are cited as the driving force behind the class-leading service providers’ growth of over 10% in 2022.

Operating globally with strategically placed offices located in the Americas, Europe, Africa, Asia Pacific, and the Middle East, Fulkrum offers its clients round-the-clock turnkey solutions wherever they or their project is located around the world. During 2022, Fulkrum was awarded major global framework agreements, expanded its global team significantly, and further diversified its services portfolio. Offshore Wind Project awards including QA/QC services for the world’s largest wind farm, Dogger Bank, led Fulkrum’s diversification efforts with an impressive 15% year on year increase in the renewables sector.

With zero recordable safety incidents reported over 12 years of operation, Fulkrum’s subject matter experts and technical personnel offer its clients complete confidence that all activities and equipment will be delivered safely and compliant to all specification and international standards. Solidifying its commitment to health, safety and the environment, Fulkrum received ISO 14001, 45001 certification, and ISO 17020 accreditation to sit alongside its ISO 9001 certified Quality Management System.

Expanding on its extensive resource of global engineering, QA/QC, and technical personnel who support Fulkrum’s clients, and in line with forecasted growth in 2023, Fulkrum’s internal head count increased by 33% globally, including a 17% growth in technical personnel and certified inspection personnel. This follows the appointment of Global Vice President, Brock Falkenhagen, who now oversees global operations, resulting in an expanding portfolio of services for Fulkrum’s clients.

The next 12 months will see the team of industry professionals drive investment into its proprietary Coordination and Operations system, IRIS, allowing for seamless integration of the workflow of all departments globally, streamlining processes, reducing touchpoints, and further increasing efficiencies. With a number of major projects confirmed for the coming year, and continued portfolio diversification, 2023 is set to be another successful year for Fulkrum.

Commenting on the company’s growth, Commercial Director Owen Gibbons, said: “I am delighted to announce that 2022 was another successful year for our team and clients. The company was founded to offer a more service focused approach into an already well-established market, so to rapidly expand into a global player within the inspection world is fantastic. I’m incredibly grateful and proud of our team for their commitment to consistently delivering best-in-class services to our clients every day.”

Supporting this insight, Global VP Brock Falkenhagen added: “Over the past few years, the entire energy industry has rapidly adapted to an array of factors impacting the availability of the energy needed to meet current and future requirements. The drive to meet the future energy demands while achieving established climate targets has led to many new discoveries, technological developments, and groundbreaking energy projects set to begin next year.

Fulkrum has established an impeccable track record working for industry giants across the world, and with a series of major projects to be awarded next year, 2023 is set to be another record year for us."

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