Aberdeen’s Net Zero Technology Centre (NZTC) has launched a new suite of commercial services aimed at helping energy businesses decarbonise.
The newly created Net Zero Technology Services arm will offer energy industry and investment clients “insight and foresight” into current and emerging net zero technologies, with a view to helping organisations use technology to accelerate their journey to net zero.
The launch includes the offer of two new solutions – technology roadmapping and technology due diligence – both of which harness its NetZeroTS database.
Created as the Oil and Gas Technology Centre in 2017 as part of the Aberdeen City Region Deal (ACRD), the agency was capitalised with £180 million of UK and Scottish government funding to become a technology centre for the North Sea energy industry.
The organisation said the development of an independent commercial business, exclusive of ACRD funding, builds on its success so far and provides an additional source of funding alongside its other innovation-focused activities.
However, it clarified the NZTC as a whole will remain not-for-profit.
Its new roadmapping service will give owners of plants and assets with high carbon emissions insight into existing or emerging technologies that can help lower emissions from areas such as power, flaring, venting and/or fugitive emissions.
Technology due diligence offered
Roadmaps will help suggest which technologies can be adopted and deployed across client assets to help achieve their decarbonisation goals.
Technology due diligence is offered to investors to help make better technology investment decisions, by assessing the legitimacy of a technology, its technology readiness level (TRL), identifying any gaps in its readiness and scalability and ultimately qualifying how investable it is.
NZTC says these services are already being used by industry and investors, with a number of successful pilots underway and technology due diligence scopes delivered.
Net Zero Technology Services director Luca Corradi said the expansion was the agency “responding to market demand with organisations asking for specific technology innovation insight.”
“For industry, decarbonising operations and understanding the viability and readiness of technology is complex. We break that complexity down helping asset owners leverage technology and investors take the guess work and risk out of their next technology investment.”
Chief executive Colette Cohen added: “Today’s launch is a significant achievement for NZTC as we evolve our strategy and operating model to encompass a much broader service offering.
“Providing organisations with insight which will be invaluable to their operations and investment decisions, our new Technology Services business builds on the extensive expertise NZTC has developed and honed over the last five years.”
NZTC has continuously adapted in response to new challenges”
Aberdeen City Council co-leader and chairman of the ACRD joint committee, Alex Nicoll
Aberdeen City Council co-leader and chairman of the ACRD joint committee, Alex Nicoll said the new offering “demonstrates perfectly” the value of the City Region Deal to the north-east.
“The move to develop a new source of revenue will help anchor research, technology and skills here and support businesses as they transition to net zero.
“The programme of investment made through the ACRD has innovation at its heart, has been delivered at pace and continues to bring economic and environmental benefits.
“The NZTC has continuously adapted in response to new challenges and opportunities in the energy sector and today’s announcement is another fine example of that.”
Conversation