Interview: Entrepreneur Paul Stonebanks OBE on his career in the energy sector and the future of the North East

In this Q&A, Bdaily hears from Paul Stonebanks, a Newcastle-based entrepreneur, who has had an impressive and diverse career. Paul has worn many hats during his career and doesn’t plan on slowing down anytime soon, in this interview he tells us of his journey to date and his hopes for the future.

Paul developed Advanced Industrial Solutions back in 2007, a well renowned Energy sector training provider. Discussing the development of the company Paul said: “I Started Advanced Industrial Solutions from a conservatory at 30 years old with small savings.

“I designed life and asset saving products through to manufacturing and developed integrated technologies that managed the lifecycle of the product from design to installation and everything in between, including auto invoicing. In 2008 i had used some of the profits from this business to Pivot the business into world class training.

His success in the energy sector led to him being named named EY entrepreneur of the year alongside many other prestigious awards. He told us that: “the one truly unbelievable moment was when I was awarded with an OBE for services to manufacturing and training.”

This success didnt come without its hurdles, in 2014 the business faced touch cashflow issues as a result of the oil and gas crisis. “As a business we learnt so much and thankfully we navigated through this and with solid foundations, sold a majority share to a private equity company called Bluewater energy in 2017.”

“In March 2021 I stepped back from my executive group position. I’m still a shareholder and advisor but I needed to leave behind the 20 hour days for a little while. Family, friends and fitness were my new priorities.”

When asked what lead him into the energy training sector he said: “My background was in dealing with people and products from a operations/project managment perspective. When I started my first real business it was in products for the oil and gas sector that helped save lives by providing fire protection on oil and gas platforms.

“When this grew it seemed natural to move into training because it was evident we all needed to raise our game when it comes to training and developing the future generations. Likewise we have diversified since into other sectors and digital learning technologies.”

As we discussed the current state of the energy sector, Paul told us what he believes will lie ahead for the industry and economy: “I feel people and politicians realise the importance of energy security to the UK, and it’s importance to the global economy. Before I felt it got tangled more in policy rather than the impact of not preparing right.

“The wider strategic objectives as a global economy are to expand more with sustainable energy that in part at least are financed from hydrocarbon fuel profits. I feel that this will provide a stronger more structured approach to the right investments. For me it feels like the sensible and structured approach will guarantee security that will help control the cost of living, protect businesses and in the medium to long term provide clean energy to the majority. The industry will expand sensibly for generations to come.

“In particular, It’s an exciting time for energy transition and the north east. Dogger Bank will further strengthen our skill base and create future engineers, leaders and innovators. The new battery plant in Blyth is a truly exceptional achievement for all involved, and again this will see our region continue to position itself as a leader. Newcastle being one of the world most advanced technological city’s points to a brighter more sustainable future for our region.”

It’s clear that Paul has a real faith in the North Easts people, its industries and its future. He said the only barriers for the region, “are limited only by a lack of ambition, acumen and energy. We quite literally have everything need to thrive. We have a world class training, education and universities on offer. Technologies, engineering, business leaders and even the most favourable weather to leave no excuse for further expansion. Let’s make sure we continue to be ambitious, and show the world exactly what we are made of in the North East of England.”