UK Technology Centre providing funds for 10 novel techniques

Offshore staff

ABERDEEN, UK– Ten start-up companies will receive financial support for their novel technical solutions under the Oil & Gas Technology Centre’s TechX Pioneer program.

The list is as follows:

• Blue Gentoo: Helping mitigate and manage the formation of gas hydrates and ensuring efficient dosing of ‘anti-freeze’ chemicals.
• Envio: Adapting technology from the retail sector to track and verify equipment offshore.
• Immaterial: Manufacture of super-adsorbent nanomaterials to cut the cost of separating, storing, and transporting gases.
• Paragon Inspection: A digital inspection technology to improve inspection of small bore tubing and reduce hydrocarbon leaks.
• RAB Microfluidics: ‘Lab-on-a-chip’ technology providing real-time condition monitoring and predictive failure analysis for rotating equipment.
• Sensalytx: An artificially intelligent software platform that analyzes and visualizes fluid movement in an oil and gas well.
• Specialist Safety Systems: Intelligent solutions for safer and more efficient crane operation offshore.
• Tenzor Geo: Use of interpretation software and autonomous ocean bottom seismometers to deliver improved accuracy in oil and gas deposit location.
• test 1 srl: Developing a sponge-like, re-usable material to soak up spilled oil in the ocean, allowing the oil to be recovered for processing.
• Tubular Sciences: Sealing technology that ‘zips’ pipelines together, for all type of pipe-lay environments.

Each Pioneer will receive £25,000 ($35,000) funding to help develop its business and enhance the technology under a 16-week program that will start at the Oil & Gas Technology Centre this June, with up to £75,000 ($105,000) in additional funding available during this period and upon ‘graduation,’ when the companies will be transferred into a 12-month incubator called TechX+.

Two companies with solutions considered to have the best potential could also receive a further £100,000 ($139,000) of funding from BP. No payback is required, and intellectual property is retained by the company.

David Gilmour, vice presidentBP Ventures, said: “Accelerating innovative thinking and developing new technologies and solutions is a key objective at BP to allow us to maintain and develop our business both in the North Sea and beyond.”

03/16/2018