ADNOC launches Decarbonization Technology Challenge; winners to get up to $1 million to pilot technology
The Abu Dhabi National Oil Company (ADNOC) on Thursday announced $1 million (AED3,670,000) Decarbonisation Technology Challenge in collaboration with Amazon Web Services (AWB), bp, hub 71, and Net Zero Technology Centre.
The announcement came in on Day 2 of the Climate Tech Forum being held in Abu Dhabi Energy Center, UAE . As per the terms of the challenge, 10 finalists will be invited to pitch their innovations to a panel of judges in December 2023 and winners will receive up to $1 million to pilot technology with ADNOC along with access to advanced research and innovation facilities in Abu Dhabi.
"We are delighted to launch the Decarbonization Technology Challenge alongside our partners. 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," said Musabbeh Al Kaabi, Executive Director, Low Carbon Solutions and International Growth Directorate, ADNOC.
"We look forward to nurturing companies with the most promising innovations that can help transform, decarbonize, and future proof the global energy sector."
Companies that specialize in the following areas are encouraged to apply:
- carbon capture utilization and storage (CCUS)
- new energies
- oil and gas emissions reduction
- digital applications for decarbonization
- advanced materials for decarbonization
- nature-based solutions
Interested companies are called upon to apply for the challenge by Friday, August 11, 2023.
The latest effort is part of ADNOC's strategy to support cross-sectoral partners and find solutions that will help accelerate energy transition across the globe. AWS, bp, and Hub71 will provide additional funding, panel judges, and business support for the winners.
For more details on entry criteria and application visit - Decarbonization Technology Challenge.
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The UAE Climate Tech forum which will go on till Wednesday, May 11, is a first-of-its-kind dialogue organized by the Ministry of Industry and Advanced Technology (MoIAT), UAE, in partnership with Abu Dhabi National Oil Company (ADNOC) and Abu Dhabi Future Energy Company (Masdar). Learn more...