BGF completes Isol8 exit

An Aberdeen well technology company has been acquired by a global energy services group following a period of growth and product development.

Growth capital investor BGF has completed its exit from isol8, which has been bought by Norwegian-headquartered Archer as part of the buyer’s strategy to strengthen its position in the well plug and abandonment market.

BGF first made a £3.5 million minority investment in isol8 in 2021, with further backing provided in 2023 and 2025 to support the development and commercialisation of its patented Fusion technology.

Isol8, which has offices in Aberdeen and the USA, designs and deploys alloy-based barrier solutions and advanced materials for use in well completions, intervention and plug and abandonment work.

Its Fusion Barriers technology is designed to provide a longer-lasting and more environmentally friendly alternative to traditional cement-based methods.

Previous estimates suggest successful deployment of the technology could deliver savings of between £1.5 million and £7 million for platform and subsea well abandonments, with potential savings of up to £5 billion in North Sea decommissioning costs.

Andrew Louden, founder and chief executive of isol8, said: “We’ve valued the strong relationship we’ve built with Richard and BGF over the past five years. 

“Their support and expertise have underpinned the continued development of both our core technologies and thinking through the market applications. 

“Now, Archer’s global reach and established customer base create a strong platform to scale deployment of isol8’s technologies across the entire well lifecycle. 

“Together, we have the opportunity to expand adoption of our existing alloy barrier products and accelerate the commercialisation of our emerging metal element technology.”

Richard Pugh, investor at BGF, added: “It’s been a pleasure working with Andrew and isol8 team, and Archer is an ideal fit for furthering the technology they have developed. 

“Developing new technology is hard, and Andrew, Bill and the isol8 team have shown the required combination of ingenuity, patience and perseverance, and this acquisition by Archer also shows that the M&A market for energy technology businesses remains open. 

“The acquisition recognises the value and global applicability of what they’ve built – we wish them every success in future.” 

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