SRC Group has appointed Alex Vainokivi as Managing Director of SRC Estonia. He was previously Innovation Manager and takes over day-to-day management from Hannes Lilp, the group’s founder and major shareholder, who remains CEO and Chairman of SRC Group and will focus on strategic management, international business development and cooperation with the heads of subsidiaries.
SRC Group, headquartered in Estonia, carries out repair and conversion projects for vessels and offshore installations, from engineering and procurement to installation and handover. The company said the change reflects its aim to grow by expanding its portfolio of proprietary products and technologies alongside project-based services. Vainokivi’s remit also covers business delivered by SRC Estonia for SRC Nordic and SRC USA, and he will initially continue to lead innovation and product development.
Vainokivi joined SRC in March 2019 and has worked in project management, marketing and innovation. He holds a degree in marine engineering and an MBA. As Innovation Manager he led development of Methanol Superstorage, a steel-and-elastomer sandwich structure that replaces the cofferdam around methanol and ethanol fuel tanks and, depending on tank arrangement, can nearly double the space available for fuel. The solution won the Royal Institution of Naval Architects’ Maritime Innovation Award in 2025.
“Alex’s task is to take SRC Estonia to the next level in business volume and profitability,” Lilp said. Vainokivi said the aim is to grow the business through systematic sales, well-managed projects and clear accountability, and to turn technical achievements into repeat sales.
