Former academic Tony Trapp launches new company

Jun 29 2010 by Karen Dent, The Journal

ACADEMIC turned entrepreneur Tony Trapp is aiming to tap into the wind energy industry with the launch of a new company to develop offshore engineering technology.

The founder and chairman of the Engineering Business (EB), which he sold to Dutch group IHC Merwede in 2008 for £30m, has set up O-Power to offer concept development and analysis through to the supply and installation of the equipment.

Dr Trapp, a former Goldman Visiting Professor of Business Innovation at Newcastle University, wants to bring top-notch engineering staff on board as part of his drive to create a specialist niche business in the North East.

He said: “The future of the North East is dependent on entrepreneurial activity, using high quality people and attracting them into the region. It’s not so much Government support that’s needed, it’s entrepreneurial.

“I think we’ll be able to make a small but significant difference.”

The Riding Mill-based business has moved from Dr Trapp’s original concept to reality in a matter of months with the backing of IHC Merwede. Dr Trapp, who was The Journal’s 2008 North East Business Executive of the year, is the chief executive of the new business.

IHC – a global market leader in constructing specialist dredging equipment and a major supplier of specialist offshore technology and vessels, with a 1bn turnover and 20 companies in its brand, has taken shares in OP.

“I decided the most attractive way to do it was with the support of the parent company. One of their interests is offshore wind,” said Dr Trapp.

“We had a breakfast meeting on Friday and they gave the go-ahead. They are the minority shareholder; I am the biggest shareholder with another colleague and I am expecting two others [to join us].

“I’m hoping to have four founder owner-directors. We will start with seven people. It will be owned and run by engineers.”