Ten technology start-ups have graduated from a programme to bring about “transformational change” in the North Sea energy industry.
The Oil and Gas Technology Centre’s inaugural TechX programme is aimed at accelerating the introduction of promising technologies into the sector.
During the 16-week programme the cohort has secured seven field trials with major operators, and each has been given £100,000 funding.
The OGTC said the development will be crucial in anchoring the supply chain to Aberdeen and reaping the full benefits of the North Sea.
BP’s Ventures programme, which is backing TechX, has also has also given an additional £100,000 between the two top firms.
RAB Microfluidics, a start-up creating a “lab-on-a-chip” condition monitoring device which can detect early signs of equipment failure, was awarded the BP TechX Technology Award of £60,000.
Meanwhile, another firm Intelift was awarded £40,000.
The companies will now undergo a 12-month incubator to grow their businesses in the north-east, allowing the region to reap the benefits of their development.
David Millar, TechX Director at the Oil & Gas Technology Centre said: “We’re delighted to have completed this first TechX Pioneers Programme and see the fantastic progress made by these 10 young companies in just a few short months. The last 16 weeks have been tough and intense, exciting and inspiring. The engagement from industry has been amazing and the support of our mentors and partners have been outstanding.
“For our 10 Pioneers graduating today, the journey is just beginning. There are no limitations to what they can achieve. They have the potential to shape a new future for the oil and gas industry. Applications for next Pioneer Programme will open on 1 October and we can’t wait to welcome our next cohort in Spring 2019.”
Paul Wheelhouse, Scottish Government minister for energy said: “The Oil & Gas Technology Centre is having a significant positive impact on the oil and gas industry through identifying and responding to key opportunities and challenges for the sector.
“It has been exciting to watch the OGTC’s rapid development with, so far, £60 million co-invested alongside industry partners in more than 100 projects.
“TechX is truly a ground-breaking and innovative accelerator programme. I’m sure it has been an intense experience for all involved and I’m impressed by what the Pioneers have been able to achieve in such a short space of time through their hard work and determination. The added value of exposure to industry leaders, fellow entrepreneurs and investors is invaluable and I wish the Pioneers all the very best for the future.”
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