Over 50 different startups from across the globe gathered at the Offshore Technology Conference for the fifth annual Rice Alliance Startup Roundup event. The full day of speed pitching and presentations, hosted by Rice Alliance Managing Director Brad Burke, took place at NRG Arena on Monday, May 6.
After interacting with all the various startups, the Rice Alliance's panel of experts voted on the 10 most promising startups. Half of the companies that were recognized are based in Houston — and even more have an office or some sort of operations in town. Here's which technologies the offshore oil and gas industry has its eye on.
Oliasoft AS
Oliasoft provides solutions for digitizing well planning operations. Photo via oliasoft.com
Oslo, Norway-based Oliasoft kicked off the presentations at OTC and walked away with an award 2.5 hours later. The cloud-based technology allows for enhanced well planning, casing and other drilling engineering processes.
Syzygy Plasmonics
Syzygy Plasmonics is a chemicals company in Houston lead by Trevor Best. Best presented his company's hydrogen as a fuel alternative technology. According to best, Syzegy's technology is a lower cost solution to gasoline that doesn't put out any chemical waste.
Toku Systems Inc.
Canadian IIoT company, Toku Systems Inc., has a inexpensive monitoring device. Photo via tokuindustry.com
When it comes to monitoring operations, it can be pricey and inaccurate. Edmonton, Alberta-based Toku Systems Inc. has designed a solution. Toku's device is durable and uses IIoT technology to allow for oil and gas companies to monitor their operations remotely.
Ingu Solutions
Ingu Solutions' Pipers technology might look small — but it's able to save a whole lot of cash for oil companies and prevent leaks. Photo via ingu.co
Another Canadian company, Ingu Solutions from Calgary, Alberta, took home an award from Rice. The company's pipeline detection technology can access pipes' conditions and prevent leaks and damage from causing major, costly events. Ingu's Pipers technology works off a subscription model, so clients have access to support and supplies with their monthly fees to the company.
LaserStream
LaserStream uses its imaging technology to track the wear and tear on pipes. Photo via laserstreamlp.com
Humble-based LaserStream provides laser-based scans of pipeline. The technology can evaluate damage and corrosion as well as calculate measurements of various equipment. The company has inspected over 350,000 feet of materials , including tubing, casing, drilling risers, production risers, and more, according to the website.
Ondaka
Ondaka's technology allows you to visualize your infrastructure before you act. Photo via ondaka.com
Ondaka isn't your typical Bay Area startup. The company uses an alphabet soup of buzzword technologies — IoT, AI, VR — and allows oil and gas companies to really visualize their infrastructure. The Palo Alto-based startup is a StartX company and a member at Station Houston for its local office.
Dark Vision Technologies Inc.
Canada-based Dark Vision has created a tool that can take ultrasound images of wells. Photo via darkvisiontech.com
North Vancouver, British Columbia-based Dark Vision has spent years developing its ultrasound technology that can get a 360-degree view of oil wells. According to the website, Dark Vision can find a number of downhole issues, such as tubing defects, casing corrosion, obstructions, and more.
Cemvita Factory
The Karimi siblings have created a way to synthetically convert CO2 into glucose, and they are targeting the energy and aerospace industries for their technology. Courtesy of Cemvita Factory
Houston-based Cemvita Factory didn't present its CO2-to-glucose conversion technology at the roundup, but the company's presence earlier in the day was enough for the judges. Co-founder Moji Karimi tells InnovationMap in a previous story about how the technology has many applications in oil and gas, but also in space operations,
Lift Etc.
Even though Lift ETC didn't present in the roundup, the Houston-based company walked away with an award for its artificial lift technology that is more efficient and cheaper for companies to use. According to the website, Lift ETC has a technology that's proven to lower the surface compressor requirements up to 75 percent and increase production.
SensorField
Houston-based SensorField didn't present, but still walked away with recognition from Rice. Photo via sensorfield.com
When it comes to using IoT for remote oilfield site monitoring, Houston-based SensorField is ahead of the curve. The company's device — so small it can fit in the palm of your hand — is powerful enough to provide complete monitoring capabilities from fluid level and pressure to rotating machinery health and location security, according to the website.