Ten start-ups to join UK TechX program

Ten companies will gain funding for promising projects under the Oil & Gas Technology Centre’s latest TechX Pioneer Accelerator program.

Offshore staff

ABERDEEN, UK – Ten companies will gain funding for promising projects under the Oil & Gas Technology Centre’s latest TechX Pioneer Accelerator program.

This year the Centre received close to 200 applications from companies in more than 35 countries, with strong representation from the UK, US, and Canada.

Each of the start-ups will get up to £100,000 ($130,000) to develop their business and technology as part of a 16-week accelerator program that will include access to experienced mentors, development partners, and access to the industry.

On graduating, the ‘Pioneers’ will be able to join a 12-month incubator called TechX+, with two of the companies awarded an additional share in £130,000 ($169,000) funding provided by BP.

There is no requirement for equity or payback, and Pioneers retain intellectual property. The 10 selected are as follows:

• Vita Inclinata Technologies: hoisting technology that increases the operating envelope for cranes and helicopters, reducing weather-associated downtime.

• Resolute Energy Solutions: micro-polymers designed to fill gaps in well equipment, cements and the formation rock, fully blocking permeability and preventing the unwanted flow of subsurface fluids.

• Sedwell: low-power, low-cost wireless condition monitoring technology that provides real-time data to prevent hydrocarbon releases.

• Hydromea: mini underwater autonomous robots that collect and harvest data using high speed underwater communication and transfer.

• Mocean Energy: an autonomous, unmanned offshore renewable energy station to power ocean sensors, communication equipment and recharge sea-surface, subsea, and airborne drones.

• Sentinel Subsea: a non-invasive, no power alarm that monitors the integrity of suspended and abandoned oil and gas wells.

• The Big Swing Co.: a multi-phase separator to de-bottleneck and increase production from marginal fields.

• Print3dWell: a combination of additive manufacturing and 3D printed slickline tools for replacing costly well intervention methods, employing carbon-dioxide as a downhole power source.

• Green Mesa: software that allows emission profiling of assets and decisions to be taken for compliance reporting and fleet use.

• AI Exploration: a multi-phase system for real-time surveillance of single wells across an entire oil field, adjusting and automating production and trimming unscheduled downtime.

03/11/2019

More in Company News