North-east oilfield technology company RotoJar is targeting growth after its owners invested millions of pounds to buy and renovate new headquarters.
The company, founded in 2011 and owned by the Moyes family, had been based in Banchory until this month.
RotoJar’s new base in Dyce boasts an engineering and production workshop with new Mazak computer numerical control (CNC) turning and milling centres and a CNC lathe.
The new headquarters also house a research and development testing facility.
Chairman Peter Moyes said the family had bought the property in Dyce and leased it to RotoJar so that the firm would have room to grow and meet demand quickly.
The company, which doubled its headcount to 14 in the last year, has developed a tool for recovering stuck objects from wellbores.
This technology was put through its paces during international field trials earlier this year.
RotoJar bosses said 2020 was the firm’s first “revenue generating year”, showing a nominal turnover.
They said RotoJar would “commercially launch” in 2021 and that they hoped to chalk up revenues of around £3 million.
Mr Moyes said: “We are very excited to now be ideally placed to build our global reputation of being first choice for pioneering rapid extraction technology, products and services in the well plug and abandonment and remedial fishing sectors.”