The TechX Pioneer is a technology accelerator programme run by the Oil & Gas Technology Centre.
The first ten companies for the Pioneer programme have been selected following a pitch to a panel of industry experts and academia. The Pioneers are technology start-ups with solutions that could transform the future of the oil and gas industry.
Each company will receive up to £100k funding, and additional funding and follow-on 12-month incubator facilities will be offered to Pioneers that base operations in North East Scotland.
Companies in the first cohort are:
Blue Gentoo, Aberdeen
Helping mitigate and manage the formation of gas hydrates and ensure the efficient dosing of ‘anti-freeze’ chemicals, saving millions of pounds.
Adapting its technology from the retail sector to track and verify equipment offshore. Intelligent equipment cases can remotely verify contents, location and usage.
Manufacturing super-adsorbent nanomaterials which can dramatically reduce the cost of separating, storing, and transporting gases.
Paragon Inspection, Dundee
Developing an integrated digital inspection technology which will transform the inspection of small bore tubing and reduce hydrocarbon leaks.
RAB Microfluidics, Aberdeen
Pioneering ‘lab-on-a-chip’ technology to provide real time condition monitoring and predictive failure analysis for rotating equipment.
An artificially intelligent software platform that analyses and visualises fluid movement across multiple elements of an oil and gas well.
Specialist Safety Systems, Aberdeen
Developing intelligent offshore solutions for safer and more efficient crane operation. This solution will help prevent incidents and fatalities.
Tenzor Geo, Aberdeen
Using unique interpretation software and autonomous Ocean Bottom Seismometers to deliver an unprecedented accuracy in oil and gas deposit location.
test 1 srl, Brescia, Italy
Developing a sponge-like material that can soak up spilled oil in the ocean, which can be reused multiple times and allows for the oil to be recovered for processing.
Tubular Sciences, Aberdeen
Sealing technology that ‘zips’ pipelines together, which can be used for the full range of pipe-lay environments including challenging and deep water.
Each Pioneer will now receive £25k seed funding to help develop its business and enhance the technology through the intense 16-week programme, which starts at the Oil & Gas Technology Centre in June 2018.
Up to £75k in additional funding is available during the 16 weeks, and upon graduation Pioneers will be transferred into a 12-month incubator called TechX+. Two companies with the most exciting potential also have the opportunity of a further £100k funding from BP.
All funding is provided with no equity taken or payback required, and intellectual property is retained by the Pioneer.
David Millar, TechX Director at the Oil & Gas Technology Centre, said “We were blown away by the technology ideas presented and now have ten ambitious start-ups with us that want to change the world! I’m sure these first Pioneers will set a benchmark in technology development that positions TechX as the leading accelerator for companies hoping to break into the oil and gas industry.
“TechX represents a significant opportunity to develop a new technology supply chain in the North East of Scotland and anchor it here for generations to come. We are delighted to have our first Pioneers on board and look forward to working with them to help develop their business and exciting new solutions for the industry.”
For further information, go to theogtc.com