The International Energy Agency (IEA) has been writing an annual report on the world’s energy efficiency for several years, as it works to guide global economies in how best to achieve net zero carbon emissions by 2050. What the IEA focuses on in its report is how to grow economies around the world while limiting, or hopefully reducing, the amount of energy they use. In its latest report for 2021, the IEA estimates the global economy will grow by ~40% over the next 30 years, driven by increasing populations and rising incomes, but assumes it will consume ~7% less energy. Achieving this energy consumption goal will require increased investments in more efficient equipment, as well as greater investment in refurbishments that reduce energy use, the IEA says.

What the IEA is targeting for the energy industry at a global level, the oil and gas business has been doing throughout its long history, which has been getting more hydrocarbons out of reservoirs with better technology (spending less) to grow profits. At the heart of this effort is knowledge: a frontier that continues to expand. The digital revolution that has been sweeping the oilfield for the past two decades has been tied to improved reservoir knowledge. This knowledge has led to less sand and fluid requirements to open downhole formations and allow trapped hydrocarbons to flow. Since we have yet to perfect how to perform experiments in the reservoir’s natural habitat, the traditional approach has been to bring a portion of the reservoir to the surface and subject it to extensive testing in a laboratory. Scientific advances are enabling reservoir and production engineers to now run tests in the reservoir that can answer the nuanced questions of what modifications need to be implemented to the standard fracturing, completion, and production techniques to yield greater output.

Operational inefficiencies usually are the result of inadequate information. This is especially true for oil and gas reservoir dynamics. Reservoirs are like people – everyone is different, although most fall into populations determined by the formation’s physical characteristics and geographic location. The ability to complete reservoirs in a manner that capitalizes on their internal energy requires engineers to know and understand each reservoir’s unique dynamics. We are advancing up the learning curve of reservoir dynamics, which should reduce production costs for oil and gas and boost producer profitability. This drive for greater reservoir knowledge, increased production efficiency, and expanded profitability is a never-ending pursuit.

For this Company Spotlight, we interviewed Interface Fluidics’ Co-founder and CEO, Stuart Kinnear, about how the company is facilitating a net zero energy industry and the conservation of finite resources with a fluid testing process that is cost effective, rapid, and repeatable – and can be completed at higher pressures and temperatures. By providing more extensive and accurate data, Interface Fluidics is helping to reduce emissions and increase efficiencies while maintaining visual insights at the microscopic level. The innovative, proprietary technology created by Interface Fluidics provides results that can increase ROI, reduce chemical costs, and take the guesswork out of operations. For more information on Interface Fluidics, please visit interfacefluidics.com.

Background: After working for an oil and gas operator for several years, Stuart co-founded Interface Fluidics in 2015 to help operators improve critical inefficiencies in their operations that result from working with incomplete knowledge sets. His co-founders, Tom de Haas and David Sinton, are thought leaders in utilizing microfluidics for energy applications. Microfluidics is mostly known for its uses in the……..…..READ MORE

Commonwealth Fusion Systems (CFS) has one of the fastest, lowest cost paths to commercial fusion energy. CFS is collaborating with MIT to leverage decades of research combined with new groundbreaking high-temperature superconducting (HTS) magnet technology. HTS magnets will enable compact fusion power plants that can be constructed faster and at a lower cost. CFS’s mission is to deploy fusion power plants to meet global decarbonization goals as fast as possible. A significant portion of the capital raised will be used to construct, commission, and operate SPARC, the world's first commercially relevant net energy fusion machine. In addition, the capital raised will enable CFS to begin working on ARC, the first commercial fusion power plant.

PXiSE is a San Diego-based developer of software that enables utilities and other grid operators to deliver reliable and stable power by managing renewables and distributed energy resources (DERs) in real time. PXiSE was started in 2016 based on the idea that real-time data from the grid combined with artificial intelligence could be leveraged to help utilities manage the rapidly increasing number of distributed energy resources that are coming online every year. Through this acquisition, Yokogawa will build on its capabilities in the monitoring and control of power generation facilities and assist its customers in the power transmission and distribution sectors to meet their clean energy goals.

Tomson Technologies is a commercial research laboratory, focused on solving the industry’s most pressing challenges through joint industry collaboration. Tomson Technologies provides a wide range of services including research and development, product development support, chemical performance studies, and project-based development and support services. Group 2 Technologies is a provider of novel, patented extended-release chemistries that significantly lengthen treatment lifetimes of production chemicals to enhance customer operations. The acquisition of Tomson Technologies and Group 2 Technologies will assist ChampionX with achieving its long-term strategic priority of evolving its portfolio to achieve sustained growth as the energy industry changes.

Octopus Energy Group is a global energy tech pioneer, launched in 2016 to use technology to unlock a customer-focused and affordable green energy revolution. Octopus Energy Group is part of Octopus Group, a certified B Corp, operating in 13 countries. Octopus Energy Group’s domestic energy arm already serves 3.1 million customers with cheaper, greener power. Octopus Energy Group is made possible by its tech arm, Kraken Technologies, which offers a proprietary, in-house platform based on advanced data and machine learning capabilities. Kraken Technologies automates much of the energy supply chain to allow outstanding service and efficiency as the world transitions to a decentralized, decarbonized energy system. The $300 million investment by the Canadian Pension Plan will enable Octopus Energy Group to add 30 wind turbines, drive its Kraken Technology development and expand more rapidly internationally.

Founded in 2001 and headquartered in Sheffield, United Kingdom, Powerstar is a market-leading smart energy solutions provider. Powerstar designs and manufactures power resilience technologies that protect customer operations from disruption while enabling net zero goals. Powerstar’s highly capable technical team uses modelling and simulation capabilities to create a digital twin of the customer’s site, ensuring that the customer’s customized solution will perform reliably. Powerstar supports commercial and industrial users in the manufacturing, healthcare, data center, retail & distribution, defense, and public sectors.

Voyager offers its Voyager Portal, which is a SaaS platform that assists companies with reducing risk, cost, and complexity across their marine supply chain. Voyager is headquartered in Houston, Texas, and was founded by industry experts who were frustrated by the vast inefficiencies and lack of data-driven decision-making in the marine industry. The Series A funding will help Voyager expedite its product roadmap to support an international client base whilst expanding its engineering, development, marketing, and sales teams internationally.

Related Press Release: Voyager Closes Series A Funding, Marking $10M Raised

Energy Technology Musings

Promoting Energy Efficiency in Different Environments