Innovation in the blue economy: FDI in Malta to develop hydrographic survey systems

Last Updated on Wednesday, 11 January, 2023 at 6:59 pm by Andre Camilleri

Malta was chosen as the main location for the manufacturing, development and worldwide distribution of hydrographic survey systems. Located in Imrieħel, R3Vox Ltd is set to operate with state-of-the-art equipment and facilities to create highly advanced multi-aspect hydrospatial survey systems. Hydrospatial systems survey and analyse charting bodies of waters, such as oceans, seas, lakes and rivers.

Accompanied by founder Jens R Steenstrup, Managing Director Ruben Cuschieri and Malta Enterprise CEO Kurt Farrugia, Enterprise Minister Miriam Dalli visited the facilities where she met the team members, comprising of engineers, quality assurance specialists and technicians.

The product being developed by R3Vox can be used for dredging, quay walls and vertical structures, marine construction as well as offshore windfarms and research. It was explained that the company not only developed an innovative product but have also invested in dedicated educational equipment to help train their clients on product usage.

“This company is a prime example of innovation in the blue economy that embraces innovation and a forward-looking vision, creating quality careers. It is another tangible example of the research, development and innovation that is thriving on our islands,” said Minister Miriam Dalli.

The Minister also highlighted the Government’s plans to continue focusing on the blue economy sector to continue attracting sustainable opportunities in this promising sector, while making sure that our seas, the natural environment on which it depends, continue to be adequately safeguarded for future generations.

The blue economy is an important contributor to the local economy, as Malta Enterprise continues to sustain several investments that give added value to this thriving sector, while augmenting its growth potential. Latest statistics show that the maritime sector accounts for up to 14% of Malta’s GDP, including over 22,000 jobs in direct and indirect employment.

Malta Enterprise CEO Kurt Farrugia explained how the entity was focusing on attracting businesses that add value to Malta’s economy, and R3Vox was a perfect example of the type of companies Malta wants to continue attracting. “This project serves as a reminder of the strong economic recovery that Malta has experienced, as well as the work that has been done to keep companies attracted to Malta even during the pandemic,” said Mr Farrugia.

From his end, Mr Steenstrup stated “Two years ago, when I decided to establish a fully-fledged manufacturing company in the EU, it quickly became clear that Malta was the perfect fit for the location of a high-tech company. Going forward, a whole new class of patented underwater mapping sonars will be manufactured right here in Malta and delivered to customers around the world.”

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