Equinor selects new class of startups to shape the future of energy

Norwegian energy giant Equinor has selected a new class of startups to work on unlocking opportunities within oil and gas, renewables, and low-carbon solutions.

This year, the Equinor & Techstars Energy Accelerator will be entirely virtual. Ten selected startups will receive support by over one hundred mentors during the program, Equinor said on Wednesday.

Ten startups have been selected from hundreds of applicants across 44 countries. Through a 13-week program, they will seek to accelerate their development as they tap into a global network of experts and resources from Equinor, Kongsberg, Capgemini and Techstars.

According to Equinor, the selected startups represent some of the most exciting ideas within the energy sector.

As explained by the Norwegian energy giant, the companies are trying to increase safety at sea, improve oil production with lower CO2 footprint and produce hydrogen more efficiently. And do wind turbines really need blades?

Gareth Burns, Equinor’s vice president for Equinor Ventures, said: ‘‘We believe working together with startups that push barriers within technology and innovation is fundamental to shape the future of energy.

“Following the success of our previous accelerator programmes, we are excited to have a new class of innovative startups to unlock opportunities within oil and gas, renewables and low-carbon solutions”.

This year the accelerator will be held digitally. Over one hundred mentors will contribute with experience and the opportunity to create networks.

The programme starts on 15 February and finishes on 11 May with a Demo Day. Here, the startups will present their solutions to Equinor, the partners, and other potential investors.

Christian Møller, chief technology officer in Kongsberg Digital, said: “If industry players, from large to small, cooperate and nourish each other’s experience and technology, it will be substantially easier to solve the challenges faced by the energy industry.

“Through Techstars we can share our knowledge and experience alongside ambitious entrepreneurs. Entrepreneurs who have identified new opportunities and use their unique skill set to tackle major challenges”.

Elin Skauge, vice president, Innovation & Strategy for Capgemini Invent, commented: “The Equinor & Techstars Energy Accelerator gives us the opportunity to develop new ideas that can change the industry through new innovations, technology and more sustainable solutions”.