Since Innovation3 Composites was formed in 2013 we have specialised in supplying our services to the Refit / Repair market locally. As most other business owners working in the Refit sector will be aware, due to the seasonal work here, keeping your team employed full time has its challenges.
We have expanded our team over the last couple of years with Project Managers, Designers, CNC Machine operators, apprentices as well as more Boat builders and Laminators to meet the demand for our services during the busy season.
This means we still need to stay busy in the summer months with projects but our services are not always required.
We have been working on launching other revenue streams for the past two years. We have designed ,Prototyped and tested a range of high end Carbon fibre products for Superyachts and our aim over the next twelve months is to start to market these to a wider client base than here locally. We are delighted with the finished products and the feedback we have received from clients has been very promising.
An alternative revenue stream project that we have committed to is a 30ft Power boat currently in build that is now really starting to take shape over the last few months and was featured in a previous issue of the Islander.
We are planning on launching it in 2021 ready for the Palma boat show. This will also generate interest for either this particular vessel or in our services to be able to build custom Superyacht tenders.
I feel with the boat building experience in our team, contacts in the yachting industry and our geographical location we will be able to offer a great product and after sales warranty service.
We are boat builders at heart and although we take all our Refit projects very seriously we ultimately want to be able to create our own creations not just repairing or modifying others.
We have an extremely busy twelve months ahead of us with our current company goals mentioned above, launching a new website company / re branding and a youtube channel.
We have also had a very busy Refit season so far supplying numerous companies with our CNC services, Superyacht components including swim ladders, passerelle’s and docks steps. Various Large Rig refits projects on behalf of Marine Results. Two ongoing refit projects first one with Yacht Management Consultants A2B Maritime on M/Y Andrea and last but not least the Swan 115 ODIN on behalf of the Swan Service Repair agents for Spain EMV.
As always I’d like to give huge thanks to all our team at i3 Composites and all the other companies involved and I’d like to give a special mention to Synergy Nox and Decabo Yacht Painters with helping us develop our products and having a strong working relationship on these projects.
Our team is going from strength to strength and hopefully may it continue! We are very aware of how lucky we are to be currently busy and working during these testing times due to the COVID-19 shut down situation.
There are going to be difficult times ahead but also during these times there are opportunities and it’s all about taking the rough with the smooth. We sincerely wish everyone in the industry all the best and hope it’s not going to affect too many businesses. Good luck to everyone!