ADNOC releases 1M$ Global competition for Emissions Reduction Tech
ADNOC, considered the responsible and reliable provider of low-emission energy, launched a global competition on Thursday to deliver innovations that contribute to reshaping the global energy landscape. The competition is being supported by "Amazon Web Services", "BP", "Hub 71" and the "Nate Zero Technology Center".
Emirates Climate Technology Conference
The launch of the competition came during the "Emirates Climate Technology Conference" being held in Abu Dhabi, with the participation of more than a thousand policymakers, CEOs, experts, specialists, technology sector leaders, and investors from around the world to advance efforts to develop emission reduction technologies.
According to the Emirates news agency, 10 finalists will be invited to present their innovations to a committee of judges in December 2023, and the winners will receive an amount of 3.67 million AED ($1 million) from "ADNOC" to try their innovations at the company.
ADNOC invites all companies to participate in the competition that specialise in carbon capture, storage, and use technologies, new energies, reducing oil and gas emissions, digital applications, advanced decarbonization materials, and nature-based solutions.
Carbon solutions sector and international growth at ADNOC
Moreover, "Musabbah Al Kaabi", chief executive of the low carbon solutions sector and international growth at ADNOC, mentioned: "We are delighted to launch the emissions reduction technology challenge in collaboration with "ADNOC" partners, and that's one of the company's efforts to accelerate the implementation of its low-carbon growth strategy, for which it has allocated 55 billion AED to develop a group of projects across the value chain for its diversified operations by the year 2030, including carbon and CO2 capture and storage techniques. and increasing reliance on electricity to proceed with its operations, innovation technologies to absorb carbon, and promoting investments in hydrogen and renewable energy sources.
We look forward to encouraging companies that offer promising innovations that can contribute to a paradigm shift, reduce emissions, and ensure that the global energy sector keeps pace with the future".
Global competition for Emissions Reduction Tech phases
The final phase of the competition will be held in the UAE in December 2023, where 10 shortlisted participants will be invited to present their ideas to a committee of arbitrators and experts. The winners will receive 3.67 million AED (1 million USD) to try their innovations while being able to access and benefit from Abu Dhabi's latest research and innovation facilities.
Participation applications continue to be received for 12 weeks, during which they are completed and submitted via decarbonization-challenge.com, and the application expires on Friday, August 11, 2023. The competition website contains standards and conditions for participation.
The competition is organised in partnership with the "Nate Zero Technology" Centre and supported by "AWS", "BP" and "Hub 71". The organisation of the competition matches ADNOC's aim to organise forums that bring partners from all sectors together to find new and effective solutions that contribute to accelerating a logical, practical, progressive, and equitable transition in the energy sector. "Amazon Web Services", "BP," and "Hub 71" will contribute additional funding, arbitrators, and institutional support to the winners.