RCS - Hercules Site Svcs - Skills Portal Launch for HS2

Hercules Site ServicesAnnouncement

08/11/2022 07:00

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RNS Number : 5829F  Hercules Site Services PLC  08 November 2022

Reach - Non-Regulatory

 

8 November 2022

 

Hercules Site Services plc

 

("Hercules" or "the Company")

Skills Portal Launch for HS2

 

Hercules Site Services plc (AIM: HERC), a leading technology enabled labour
supply company for the UK infrastructure sector, is pleased to announce that
it has launched its skills portal, the Skills, Employment and Education
("SEE") Everything Portal, which has been developed in conjunction with the
Balfour Beatty Vinci Systra (BBVS) joint venture on the HS2 rail project.

The launch follows the completion of successful trials, triggering an initial
payment of £44,000 to Hercules. The Company and BBVS have now entered into a
licence agreement regarding the SEE Everything Portal's full implementation
and use at the Old Oak Common regeneration project in west London. This
represents a significant milestone in Hercules' strategy to monetise and white
label its digital tools for major projects. The Company is now well positioned
to progress a pipeline of licensing opportunities across the public and
private sectors to secure additional recurring revenue.

The SEE Everything Portal aims to reduce the time and resource spent
coordinating, tracking, monitoring and validating data on equality, diversity,
inclusion, skills, employment and education outputs on infrastructure and
construction projects. Reports can be produced for any of the recorded data
and have proven to be key in measuring SEE performance and demonstrating
capabilities and awareness for tendering.

The portal can be easily accessed and used across all types of devices and it
utilises a user-friendly web-based interface that delivers seamless
stakeholder coordination. The standardised collection of 'live' data enables
contractors and sub-contractors to become more embedded in the local community
and achieve more project SEE targets generating additional benefits for local
people.

 

Contractors are increasingly required to demonstrate the SEE impact of a
project when entering into a tendering process following the implementation of
the Social Value Act (2012). This has meant that social value has become an
ever-growing metric that is being required across all sectors, especially for
public spending.

Brusk Korkmaz, Hercules' Chief Executive Officer, commented: "Our SEE
Everything Portal will make it easier for contractors and sub-contractors of
all shapes and sizes across the private and public sectors to meet their
skills, employment and social value commitments.

"Beyond providing another example of how we embrace digital innovation in the
infrastructure sector, the SEE Everything Portal chimes with our core values
of being committed to improving the lives of our workforce and positively
disrupting the construction industry.

"We will continue to work together with our clients to create lasting,
mutually beneficial partnerships that are driving change in our industry and
delivering ever higher standards for our workforce, our partners and the local
communities that we work in. In doing so, we are delivering new revenue
streams with high growth potential for our stakeholders."

 

For further information and enquiries, please contact:

 

 Hercules Site Services plc                                                             c/o SEC Newgate

 Brusk Korkmaz (CEO)

 Paul Wheatcroft (CFO)

 SP Angel (Nominated Adviser and Broker)                                           +44 (0) 20 3470 0470

 Matthew Johnson / Adam Cowl / Harry Davies-Ball (Corporate Finance)

 Grant Barker / Rob Rees (Sales and Broking)

 SEC Newgate (Financial Communications)                                           +44 (0) 20 3757 6882

 Elisabeth Cowell / Ian Silvera / Max Richardson                       Hercules@secnewgate.co.uk

About Hercules Site Services plc

Hercules is a leading tech enabled labour supply company for the UK
infrastructure sector. Founded in 2008, Hercules has an established track
record of profitability and fast-growth and has built a blue-chip customer
base which includes Balfour Beatty, Costain, Kier, Skanska, Dyer & Butler
and Volker Fitzpatrick. The Company has been appointed to provide labour for a
range of high-profile infrastructure projects, such as HS2, due to its agile,
innovative, digital first approach and complete service offering. It is
well-placed to benefit from any government increase in infrastructure spending
and its experienced management team has identified multiple opportunities for
growth.

 

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