Equinor signs deals with startups from Energy Accelerator event

Equinor’s corporate venture arm Equinor Ventures has signed deals with and gave prizes to participants of the Equinor and Techstars Energy Accelerator

Equinor said on Wednesday that it signed a letter of intent with f3nice, an Italian additive manufacturing company. f3nice’s technology will source metal scrap and disused parts and convert this into metal powder, which can be used as input material for printing new parts.

Equinor Ventures has awarded two Accelerator Prizes to Cnergreen and Ocean Access. Cnergreen is commercialising a nanoparticle-based foam technology enabling cleaner hydrocarbon production while Ocean Access is developing a more reliable and cost-effective solution for accessing and gathering information from remote locations offshore. The companies will receive $50,000 each.

This year the Equinor and Techstars Energy Accelerator has been entirely virtual. During the past 13 weeks, nine start-ups from all around the world have tapped into the global network of Techstars, Capgemini, Kongsberg, and Equinor.

Over 150 mentors have participated and, according to Equinor, the program has represented a unique possibility to search for the best ideas within the energy sector.

Philip Hansteen, leader of the Energy Accelerator at Equinor Ventures, said: “I am very energised by how the nine companies have created broad engagement across Equinor. While we have been able to help them improve their product and technologies – they have also challenged us.

“Through their innovative ideas and disruptive technologies, these companies will help us to deliver on our mandate; to optimise oil and gas, accelerating profitable renewables and develop low carbon solutions”.

Audun Abelsnes, managing director of Techstars Energy, added: “At the end of the program, I am proud of what they have achieved and how far they have come. We are privileged to work very closely with our corporate partners to understand how to engage an energy giant and I know this insight is extremely appreciated by our founders”.

Mikkel Hannisdahl Haug, customer success manager at Kongsberg Digital, stated: “Supporting and collaborating with these nine companies and helping them reach their goals has been a pleasure for us.

“These companies have shown in the program that hard work, dedication, innovation, and collaboration is what it takes to be a success. Kongsberg is a technology company that is at the forefront of digitalization and working with these nine start-ups helps us stay on our toes in our quest for continuous improvements and new ways of working”.