EV Private Equity

Red Spider Technology is a technology company specializing in the design, manufacture, and supply of downhole solutions for the oil and gas industry. Founded in 2003 and headquartered in Stonehaven, Aberdeenshire, the company provides a range of products and services tailored to flow control, completion, well intervention, and artificial lift applications. Its offerings include innovative well solutions such as the evolution valve, revolver valve, Optimus packer, and various reservoir isolation systems. Additionally, Red Spider supplies a comprehensive array of intervention equipment, including hydraulic products, zonal equalization devices, and modular straddle systems, among others. With a focus on enhancing operational efficiency and effectiveness in challenging environments, Red Spider Technology plays a vital role in supporting the operational needs of the oil and gas sector.

Deep Casing Tools Limited, established in 1999 and headquartered in Aberdeen, UK, specializes in manufacturing innovative technologies for the global oil and gas industry. The company's primary products are The Turborunner and The Turbocaser Express, both high-speed reaming systems designed to enable drilling and completions teams to accurately land casings and completions at target depth, safeguarding assemblies and minimizing operational risks. Led by a team with over 200 years of collective industry experience, Deep Casing Tools' products are engineered by professionals for professionals, combining innovative design with precision engineering to deliver significant cost and time efficiencies.

In 2001 Anton Ziolkowski, Bruce Hobbs and David Wright of the University of Edinburgh invented a new electromagnetic method to detect sub-sea and underground hydrocarbons. In 2003 they founded MTEM Ltd. to develop the technology and provide land and marine surveys to oil companies. In November 2004 MTEM Ltd. was launched from the University of Edinburgh with £7.4M of funding from three equal investors: HitecVision, Energy Ventures, and Scottish Equity Partners. MTEM Ltd. developed and built systems to perform land and marine transient electromagnetic surveys that can identify hydrocarbons before drilling, thus reducing the risk of drilling “dry” wells and saving millions of dollars per well. In June 2007 Petroleum Geo-Services (PGS) bought MTEM Ltd. for $275M. The University of Edinburgh’s share of the sale was £8.6M, of which £2.6M funded 164 PhD studentships. PGS continues to develop the technology.