North Sea Core Cic

North Sea Core CIC. is an initiative set up in November 2018 in response to the release of core material by energy companies through the relinquishment, abandonment and decommissioning of fields on the UK Continental Shelf. It is recognised that core material provides an incredible resource for understanding the subsurface and it is invaluable to geologists. Rather than seeing this important part of our offshore geoheritage fall into disuse or be discarded, we collect, transform and upcycle core material and make it available to the wider geological community. All core is donated from company samples, not from material held in the British Geological Survey collection. We provide core for education and science outreach, with considerations made for those facing financial hardship. We also supply to individuals and commercial organisations. For more information please check our website. In May 2020 we became a Community Interest Company (CIC.). A Community Interest Company is a type of limited company set up for social enterprises who have specific social objectives. The main difference between this and more traditional limited companies (Ltd.'s) is the legal clause known as an "asset lock", which defines what happens to any profits made. Due to the asset lock, all profits made by North Sea Core CIC. are reinvested into the company and used to benefit the Geoscience community, rather than divided between directors. This also means that if North Sea Core CIC. were to cease trading, all of our remaining assets and profits would be transferred to another Community Interest Company or Charity, rather than being a final payment to the directors. North Sea Core CIC. remains a volunteer run initiative and all work is undertaken in the free time of our team. This may result in a delay in messages or providing material. Please note any views expressed are our own and not those of employers, societies we may be affiliated with, sponsors or donating companies.