Equinor selects 10 start-ups for energy accelerator program

Norwegian oil and gas company Equinor has revealed the second class of global start-up companies selected to participate in the Techstars Energy Accelerator. Three Norwegian companies participate in the program.

echstars Energy partners: Gunnar Deinboll (left), executive vice president in Capgemini Invent, Jens Festervoll, Equinor’s corporate liaison, Guro Knapstad, Kongsberg’s corporate liaison, Hugh McGirr, programme manager Techstars Energy and Audun Abelsnes, managing director Techstars Energy. (Photo: Ole Jørgen Bratland / Equinor)

The ten start-up companies have been selected from hundreds of applicants across 42 countries. Through an intensive 13-week program they will seek to accelerate their solution by tapping into a global network of experts from Equinor and Techstars as well as the partnering companies Kongsberg and Capgemini, Equinor said on Tuesday.

“The energy industry is changing fast, and these companies are at the forefront of that change. Following the success of our first accelerator program last year, we are excited to have a new class of innovative startups working with us for the next three months. I look forward to supporting the teams – and also learning from them,” says Al Cook, Equinor’s executive vice president for Global Strategy and Business Development.

The accelerator is hosted at Equinor’s Oslo offices. The ten start-up companies will arrive on September 9.

“Norway has a world-class energy-technology industry and is recognized as a true global energy hub. It is the ideal place to engage with subject matter experts if you are working on disruptive solutions within energy,” says Audun Abelsnes, managing director Techstars Energy.

The selected companies represent solutions within oil and gas, renewables, new business models and digitalization. At the end of the program in December, they will present their solutions to Equinor, the partners, and other potential investors at a Demo Day.

“Kongsberg Digital wants to help the world’s industries with their digitalization journey, and we believe continuous innovation, knowledge sharing, and partnerships are key components for success. We look forward to working with the top ten companies and seeing what mutual benefits we can spin out of the Techstars Energy Accelerator 2019,” says Hege Skryseth, executive vice president in Kongsberg and president of Kongsberg Digital.

“Techstars Energy represents an opportunity to explore innovative ideas that can reshape our industry. We are very excited to be working with this year’s group of startups in the accelerator program and to learn from them,” says Gunnar Deinboll, executive vice president, Capgemini Invent.

The ten companies selected for the program are: Fieldmade, Norway; Fuelsave, Germany; GamY, Germany; Navarra Tech, Brazil; RagnaRock Geo, Norway; Salient Energy, Canada; SeeO2 Energy, Canada; Tempus, UK; Terrapin, Canada; VesselAdmin, Norway.

Accepted companies receive up to $120,000 and aim to compress two years of work into 13 weeks. It is worth mentioning that eight out of ten companies from the Techstars Energy class of 2018 signed deals with corporate partners.

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