Magma Global, UK
Magma Global is a UK company focused on designing and manufacturing the next generation of risers and flow-lines for the oil and gas offshore industry. The company aims to introduce new materials and production methods to replace traditional steel and combined steel and plastic solutions, which suffer from corrosion and weight issues when moving into deeper and sour waters. The accident in the Gulf of Mexico has increased the political pressure to look for better and more reliable solutions to mitigate the risk of deep water drilling.
The Magma solution is based on a thermo-plastic solution reinforced by carbon fibres, which reduces the weight by a factor 10, and which doesn’t suffer from corrosion. The company was founded by Martin Jones, a serial entrepreneur, and Damon Roberts, a world expert in composite structures, whom both made a successful exit when Insensys Oil & Gas Ltd. was sold to Schlumberger.
New Energy Solutions invested in the company in August 2010.