No longer will past business practices be allowed to continue without scrutiny in the energy industry. Can we be more efficient? Are we missing revenue opportunities? Are we treating our employees well? How are our operations impacting our environment, social, and governance (ESG) ratings? These questions are being posed to the on-site workers by senior operations personnel and executive managers. The answers will be critical for financial success in the energy world of the future.

The world’s energy infrastructure is dependent on the efficient operation of complex processing and transmission facilities. Whether refineries, petrochemical plants, steel mills, transmission lines, or pipelines, the smooth operation of every segment of our energy infrastructure is critical to the functioning of the global economy. While much of our energy infrastructure has been around for decades, just because we continue to operate it as we have in the past doesn’t mean there are not opportunities to improve existing operations. If operational improvements can lead to higher profits, reduced accidents and leaks, and less worker stress, these opportunities should be considered. That doesn’t mean they will all prove cost effective. However, rejecting new and different ways of doing things because ‘we’ve always done it a certain way,’ is no longer acceptable in today’s world where companies are being judged on ESG metrics in addition to traditional investment ratios.

While an oilfield worker from the 1920s would be dumbfounded by the equipment and techniques utilized today, a worker from merely 20 years ago would also be amazed by how much technology has changed the energy business too. Change has been and will continue to be a constant for the energy industry. The potential rewards from embracing new and different ways of operating energy plants and transportation assets can no longer be ignored.

For this Company Spotlight, we interviewed CruxOCM’s CEO, Vicki Knott, about how the company is modernizing and streamlining pipeline control room operations. CruxOCM delivers innovative operations control management software that eliminates the complexity and inefficiencies associated with standard control rooms. For more information on CruxOCM, please visit cruxocm.com.

Background: After working as a control room operator for TransCanada and ATCO Gas since 2011, Vicki witnessed firsthand the inefficiencies and risks of relying on manual processes for procedures, checklists, and “rules of thumb” to execute routine pipeline operations. Upon meeting Roger Shirt (PhD in Process Control) while……..…..READ MORE

Founded by industrial cybersecurity experts, Armexa delivers end-to-end cybersecurity solutions that protect critical operational technology (OT) and industrial control system (ICS) environments against cyber risks to maintain resiliency of revenue-generating operations. Cybersecurity services from Armexa help organizations fortify their digital resiliency to safeguard their assets against ever-evolving cyber threats and to gain and maintain a competitive advantage in their markets. Armexa’s adaptive, scalable solutions leverage in-depth industrial, OT/ICS, and automation expertise at every stage of design, implementation, and maintenance—from the plant floor to the cloud.

Related Press Release: Audubon Companies Invests in Cybersecurity Start-Up Armexa

Ekona is a Vancouver-based venture established by Evok Innovations and Innovative Breakthrough Energy Technologies. Ekona is developing a revolutionary technology that transforms the way clean hydrogen is produced. Ekona’s solution is an innovative and low-cost methane pyrolysis platform that converts natural gas into hydrogen and solid carbon, virtually eliminating greenhouse gas emissions. The investment will advance development of the novel methane pyrolysis technology platform to produce cleaner and lower cost turquoise hydrogen.

Founded by a team of industry veterans in 2015, EIP is custom-built to lead the transition to a zero-carbon economy. Today, with nearly 60 professionals located across six global offices, EIP manages more than $2 billion in assets under management across early-stage, venture, growth, credit, and infrastructure investments. The EIP team is comprised of experienced investors, researchers and technologists who work closely with the firm's strategic limited partners to accelerate their own paths to net-zero and catalyze growth in EIP's portfolio of innovative climate investments. EIP has established one of the world's largest climate-focused venture technology portfolios with over 75 investments ranging from revolutionary technology start-ups to established enterprise platforms.

Qube, founded in 2018, provides customers with internet-of-things (“IoT”) devices to continuously monitor for a host of gases including methane, carbon dioxide and hydrogen sulfide. With the help of artificial intelligence, Qube combines gas concentration, atmospheric, and other operational data to locate, quantify and classify emissions by source and severity. The investment will allow Qube to accelerate the deployment of their continuous monitoring systems and help primary industries reduce their emissions.

Yotta Energy is a renewable energy storage company headquartered in Austin, Texas. Yotta has developed unique PV-Coupled™ architecture, a smart energy storage solution designed to scale with rooftop solar PV projects effortlessly. At about the size of a briefcase, Yotta’s patented panel-level energy storage solution can fit under any industry standard solar module, neatly integrating with the solar racking array. Based in San Francisco, WIND Ventures is the strategic venture capital arm of Copec, one of the leading energy companies in Central and South America and one of the most valued brands throughout Latin America. The investment, led by WIND Ventures, will scale Yotta’s PV-Coupled solar plus storage flat-roof energy backup deployments.

Energy Technology Musings

How We’ve Always Done It Just Isn’t Good Enough Now