Enteq Technologies plc (LON:NTQ) Chief Financial Officer Mark Ritchie caught up with DirectorsTalk for an exclusive interview to discuss his new role as CFO, what he brings to the company and the exciting opportunity in energy transition.
Q1: Mark, it’s been a couple of weeks now into the role of new CFO, what is it that’s exciting about this opportunity with Enteq Technologies?
A1: I think when I spoke to the company and I met with the Board members, the excitement around Saber and the position in the market, I think there’s clearly a demand in the market for new technology and Sabre offers that. I could feel the excitement and the energy with the other Board directors about what we could do in the market.
When I met with them and saw the technology and saw the opportunity, particularly in the key markets, I was really keen to join at that point.
Q2: What experiences from your past can you bring to the company?
A2: My immediate background is in the oil and gas sector so I’ve got a lot of experience in the relevant space, and I’ve also worked in senior positions with privately backed businesses as well.
So, I think, given where we are with the company around the scale-up and the internationalisation plans that we have, that is very much the kind of strategic plans I have been a part of before, and helped build in other businesses.
With my oil and gas and energy background, the size of the business that the company is at the moment, and the strategic journey that we have planned ahead, I just feel there was a lot of crossover between what I’ve done recently and feel that I can help get to where we want to go.
Q3: You mentioned the market opportunity, how exciting is the energy transition opportunity with Enteq Technologies?
A3: I think that was a key attraction for me when I joined, as I mentioned the Saber technology, but really, we think that can really differentiate the energy transition as well.
The Saber technology provides elements of geothermal and methane capture when it’s in the hole so yes, for us, technology is key, but actually being a contributor to that energy transition is also key for us and doing this in a sustainable and responsible way.
So, I think the technology offers both of those, and that is a really exciting element for us.