Oil and gas hopefuls to share £1m
TECHNOLOGY hopefuls that are developing products such as miniature underwater robots are set to win up to £100,000 support under a scheme developed to help the North Sea oil and gas industry fight back amid the crude price plunge.
Ten firms have been selected to join the second cohort of participants in the Techx Pioneer Accelerator Programme developed by the Oil and Gas Technology Centre. Five are based in Scotland.
Techx said the ventures chosen showed the balance of technology, skills and ambition required to deliver clear value to the oil and gas industry. They include Switzerland-based Hydromea, which plans to use underwater robots to gather data. The scheme attracted around 200 applications, from 35 countries.
Kier said it will meet its 2019 expectations.