ADNOC Launches $1 Million Decarbonization Technology Challenge
(P&GJ) — ADNOC has launched a global competition to find innovations that will reshape the global energy landscape. The competition was launched at UAE Climate Tech Forum in Abu Dhabi, where over 1,000 global policy makers, innovators, and industrial leaders met to drive technological solutions for decarbonization.
ADNOC invited companies with advanced technologies that are prepared for pilot testing in various areas of carbon capture, utilization, and storage (CCUS), including direct air capture of CO2, in-situ CO2 capture, CO2 transportation, CO2 utilization for synthetic fuels and green chemicals, CO2 storage, and CO2 monitoring.
“ADNOC has earmarked $15 billion for landmark decarbonization projects by 2030, including carbon capture, electrification, new CO2 absorption technology and enhanced investments in hydrogen and renewables,” Musabbeh Al Kaabi, executive director of low carbon solutions at ADNOC said. “We look forward to nurturing companies with the most promising innovations that can help transform, decarbonize, and future proof the global energy sector.”
Ten finalists will be invited to pitch their innovations to a panel of judges in December 2023. Winners will receive up to $1 million in piloting opportunities with ADNOC. Scale-up companies specializing in carbon capture utilization and storage (CCUS), new energies, oil and gas emissions reduction, digital applications and advanced materials for decarbonization, and nature-based solutions are encouraged to apply.
The search will culminate in a final in the UAE in December 2023. 10 shortlisted entrants will be invited to present their ideas to a panel of expert judges. As well as receiving up to $1 million in piloting opportunities, winners will gain access to state-of-the-art research and innovation facilities in Abu Dhabi.
The competition is being delivered in partnership with the Net Zero Technology Center and supported by AWS, bp and Hub71. It supports ADNOC’s strategy to convene cross sectoral partners to find fresh and meaningful solutions to accelerate a responsible energy transition. AWS, bp and Hub71 will provide additional funding, panel judges and business support for the winners.
Entrants have 12 weeks to compile their applications and submit via a portal on decarbonization@challenge.com by August 11, 2023. The website outlines the entry criteria for participants.
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