Dublin-based VR simulation training provider VRAI has secured €3.4m in funding to bring its technology to the offshore wind industry amid the global energy crisis in an investment led by Northstar Ventures, a venture capital firm based in the north-east of England.
The investment will also be used by VRAI to grow its existing business in aerospace, defence and security, and the company believes its VR simulation solution will help accelerate the growth of the workforce to meet the increased need for renewable energy in Europe.
VRAI expects to create up to 10 jobs at its offices in Ireland and the UK over the next 12 months. The firm's technology combines virtual reality with data capture, analysis and machine learner to measure, evaluate and predict human performance and improve training outcomes.
"I strongly believe that dual use technologies such as ours can be a source of competitive advantage for our society. This investment allows us to help scale the offshore wind workforce, which is critical to society's plans for transitioning from fossil fuel dependency," said Pat O'Connor, managing director of VRAI.
"Our products will also help to ensure our military personnel have the very best training and insights, at a lower cost and with lower carbon footprint, in the face of increasingly complex operational environments.”
In Association with
Founded in 2017, VRAI assists clients in aerospace, defence and offshore wind working through the UK Ministry of Defence and original equipment manufacturers, and the company also has R&D links to Durham University's Energy Institute, the MoD's Defence and Security Accelerator and Innovate UK.
VRAI previously expanded to the north-east of England in 2020, and its move into offshore wind comes at a time when both Ireland and the UK are struggling to meet emissions targets and seeking to protect residents from soaring energy prices.
Commenting on the partnership, Alex Buchan, investment manager at Northstar Ventures, said: “The north-east region has been instrumental in developing the offshore wind sector, delivering clean energy and green growth, and partnerships like the one between VRAI and local industry help ensure the UK stays at the forefront of global innovation in renewables.
"With an impressive track record in cutting edge VR technologies, we are pleased to support VRAI in scaling up this innovation to train the UK’s offshore wind workforce and create more high quality jobs in the North East.”
The Irish government has committed to halving greenhouse gas emissions by 2030 and reaching net zero by 2050 at the latest, while the UK has an offshore wind target of 50GW by 2030.
The UK's plan will require 60,000 jobs, with up to 500,000 certified technicians required globally in the next four years to meet the growing demand for offshore wind, and VRAI is seeking to support the scaling of the workforce with its VR simulation product.
The global virtual training simulation market was valued at $204.4bn in 2019 and is projected to reach $601.9bn in 2027.
(Pic: VRAI founders Pat O'Connor and Niall Campion)
