David Shambrook and Damian Webb of RSM UK Restructuring Advisory have been appointed as joint administrators of Beam.
Beam filed a notice to appoint an administrator last week less than a year after being launched through a merger between Rovco and Vaarst.
The company took the decision to appoint administrators after an unsuccessful equity raise and was subsequently unable to complete an accelerated sale of its business and assets in April 2025.
Upon appointment of the administrators, 162 of the 195 employees were made redundant.
The notice was filed for Rovco Ltd, the Bristol-headquartered technology company’s trading name, following the rebrand last September.
The company specialised in AI and autonomy on robotic ships and underwater vessels to provide services to the offshore wind sector. It had additional offices in Scotland and the US.
The administrators are currently exploring different options to maximise returns for creditors and preserve jobs for staff where possible, the company said.