Ten Oil and Gas Technology Start-Ups Win Funding

Published Mar 17, 2018 5:48 PM by The Maritime Executive

Pipelines that are “zipped” together and a safer, greener and cheaper alternative to LNG could result from a technology accelerator program underway at the Oil and Gas Technology Centre in Scotland.

Up to £100,000 will be given to each of 10 companies through the TechX pioneer technology accelerator program, with no equity taken or payback required. Each company will initially receive £25,000 seed funding to help develop their business and enhance their technology through an intense 16-week program, which starts in June 2018. Up to £75,000 in additional funding is available during the 16 weeks. Two companies with the most exciting potential could receive a further £100,000 from BP.

The 10 companies are:

Blue Gentoo: Helping mitigate and manage the formation of gas hydrates and ensure the efficient dosing of anti-freeze chemicals, saving millions of pounds.

Envio: Adapting its technology from the retail sector to track and verify equipment offshore. Intelligent equipment cases can remotely verify contents, location and usage.

Immaterial: Manufacturing super-adsorbent nanomaterials which could dramatically reduce the cost of separating, storing, and transporting gases.

Paragon Inspection Limited: Developing an integrated digital inspection technology to improve the inspection of small bore tubing and reduce hydrocarbon leaks.

RAB Microfluidics: Pioneering ‘lab-on-a-chip’ technology to provide real time condition monitoring and predictive failure analysis for rotating equipment.

Sensalytx: An artificially intelligence platform that analyses and visualizes fluid movement across multiple elements of an oil and gas well.

Specialist Safety Systems: Developing intelligent offshore solutions for safer and more efficient crane operation.

Tenzor Geo: Using unique interpretation software and autonomous ocean bottom seismometers to deliver an unprecedented accuracy in oil and gas deposit location.

test 1 srl: Developing a sponge-like material that can soak up spilled oil in the ocean. The product can be reused multiple times and allows for the oil to be recovered for processing.

Tubular Sciences: Sealing technology that “zips” pipelines together and can be used across the full range of pipe-lay environments including challenging and deep water.