Exeter Firm Secures £150,000 to Boost Overseas Boat Sales
Government-backed finance will support HydroSurv's expansion into Norway and Italy, creating new skilled jobs.
By The SME Chronicle Newsroom
••3 min read
AI
Generic image of a modern, low-emission unmanned surface vessel sailing on blue water near a coastline.
Exeter-based marine technology firm HydroSurv has secured £150,000 in export finance, backed by UK Export Finance, to expand its sales of low-emission, self-driving boats to Norway and Italy.
HydroSurv, a manufacturer of unmanned surface vessels (USVs), has received a £150,000 trade loan from Nighthawk Export Finance (NEF), guaranteed by UK Export Finance (UKEF). This funding is set to support the company's growth in international markets, enabling it to fulfil export orders and recruit seven new highly skilled employees at its Exeter facilities. The company's workforce will increase from 12 to 19.
Founded in 2019, HydroSurv specialises in developing and manufacturing electric and battery-hybrid USVs, which are self-driving boats designed for marine surveying and environmental monitoring with low to zero-emission operations. These sustainable vessels offer an alternative to traditional crewed workboats. Since its first export order in 2021, HydroSurv has deployed over 30 USVs globally, with approximately 95% of its business now coming from international markets.
The financial support will provide the necessary working capital for HydroSurv to deliver its specialised boats to customers in Norway and Italy. The data collected by these vessels is used for various purposes, including offshore wind development, flood-risk management, and coastal infrastructure protection. The company anticipates tripling its revenue within three years, driven by growing global demand for USVs.
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"HydroSurv is a fantastic example of British innovation succeeding on the global stage and this backing from UKEF is helping to strengthen Exeter’s local economy."
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"HydroSurv is a brilliant example of a Devon business making waves with its self-driving low-emission boats and showcases the South West as an innovation hotbed for the marine autonomy sector."
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"Demand for our technology has grown rapidly as organisations around the world look for more efficient and sustainable ways to carry out marine survey and monitoring operations. The financing from NEF and UKEF has enabled us to take on larger international orders while continuing to invest in our people and capabilities."
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"HydroSurv is a great example of British Innovation and scale-up in the maritime sector. NEF are proud to catalyse their scale-up, create new jobs in the South-West and support the talent and supply-chain behind their trusted unmanned surface vessel (USV) technology."
UK Export Finance aims to support UK firms in winning over £12.5 billion in new export contracts by 2029. In the last financial year, UKEF provided over £11 billion in support, contributing to an estimated 85,000 jobs and £6.4 billion to the economy.
Based on information from the official source: UK Export Finance (15/10/2026)
