RC Fornax PLC (AIM:RCFX) earlier this week outlined its strategic vision following its recent listing in London.
CEO Paul Reeves spoke with Proactive about the company’s mission to enhance efficiency in the UK defense sector through innovative project management and SME integration.
Reeves, a former Air Force ground electronics engineer, highlighted that RC Fornax was established to address inefficiencies in defense project delivery.
The company forms specialized contract worker teams to execute engineering design projects under a statement of work framework.
This approach, he explained, allows RC Fornax to deliver specific project outcomes for major defense primes while improving overall efficiency.
Here, we take a closer look at what was said in the interview.
Proactive: Joining me is RC Fornax PLC CEO Paul Reeves. Paul, very good to meet you. Could you start by providing us with a brief overview of your background and experience within the defense sector and what led you to set up RC Fornax?
Paul Reeves: Hello, sure. I spent 12 years in the Air Force as a ground electronics engineer. I covered a variety of roles, but ultimately, I was utilizing products designed and manufactured by large defense contractors.
I spent a lot of time - unusually for the Air Force - in tanks with radars on them and in electronic warfare ranges.
That experience led me into a post-military career as a contract worker for large defense primes. I worked as a project management professional delivering large-scale, high-value projects.
The common theme throughout my career was that there were clear opportunities to improve efficiency in defense projects.
At the same time, many contract workers were affected by legislative changes such as IR35.
These two factors aligned with our vision, and we formed RC Fornax PLC.
Our goal is to define and execute engineering design projects under a statement of work by forming expert contract worker teams.
We wrap these teams in a project management package to deliver specific outcomes to large defense primes, improving efficiency in project delivery.
Proactive: How is the company positioned to support the UK defense industry and address its challenges?
Paul Reeves: If you look at the MOD action plan, first published in 2019 and now iterated annually, there is a clear desire for change.
The traditional approach where projects run over budget and behind schedule—needs improvement.
The MOD is focused on increasing supply chain resilience and diversity.
RC Fornax is positioning itself as a champion of SMEs, integrating their solutions and capabilities to provide an alternative to the traditional contracting approach.
Right now, we are focused on being an enabler improving efficiency for large defense primes.
In the future, we aim to offer a different procurement solution directly to the MOD.
Proactive: Why did you choose to list the company in London?
Paul Reeves: We considered several options when raising capital to take the business to the next level. An IPO in the UK was the only route that checked all the boxes.
It strengthened our reputation, increased brand awareness, and removed roadblocks to securing large contracts.
London was the natural choice. We are a UK-based company, our operations are in the UK, and our workforce is from the UK.
We are committed to championing UK-based engineering excellence.
Proactive: What will the proceeds from the fundraising be used for?
Paul Reeves: The funds will be allocated to three key areas: facilities, people, and technology.
Firstly, we want to enhance our technology by developing a new tool that will fully automate the statement of work process from gathering initial requirements to creating a contractual document ready for execution.
Secondly, we are expanding our facilities, including creating an FSC-ready facility in Bristol.
Lastly, we are accelerating our hiring efforts to increase our capacity and take on more projects.
Proactive: Well, Paul, congratulations on the listing. I hope you’ll keep us updated on any progress.