FDI investment in Malta’s blue economy will develop hydrographic survey systems

Malta was chosen as the primary location for the manufacturing, development, and worldwide distribution of hydrographic survey systems. R3Vox Ltd, located in l-Imrieħel 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 bodies of water, such as oceans, seas, lakes, and rivers.

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

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.”

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 has 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.

Minister Dalli highlighted the Government’s plans to focus on the blue economy, by attracting sustainable opportunities while ensuring the sea and natural environment are safeguarded.

Latest statistics show that the maritime sector accounts for up to 14 per cent of Malta’s GDP, including over 22,000 jobs in direct and indirect employment.

Malta Enterprise’s CEO Kurt Farrugia added, “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.”