The Dyce-headquartered firm has seen a year-on-year revenue increase of more than $2m (c. £1.52m). Global utilisation of TWMA’s RotoMill technology, which can reduce operational carbon footprints by 50%, has reached 70% this year, demonstrating the strong demand for the offshore waste recovery system.

The group operates globally, with a vision to turn drilling waste into a valuable resource for clients in key regions throughout the UK, Middle East, Norway, and the US.

Chief executive officer Halle Aslaksen said: “At TWMA, we are passionate about supporting operators to streamline waste management processes, so we are pleased to report that our second-quarter results demonstrate the growing demand for our solutions.

“Alongside the increased adoption of the RotoMill technology, we are proud to have upheld our high standards of safety, resulting in another year of zero lost time incidents and injuries.”

Earlier this year, TWMA announced that it has closed a $62.5m (c. £47.59m) Sustainability Linked Bond on the Nordic ABM in Oslo.

Qualifying for a Sustainability Linked Bond required third party recognition that TWMA’s sustainability framework is aligned with the principles issued by the International Capital Market Association. This included validation of a science-based target for CO2 in line with the 1.5-degree scenario and confirms TWMA environmental efforts within the energy industry.