SAP to lead Crescent’s digital transformation
The German software company will form a strategic partnership with Crescent, one which will allow the latter to streamline its business and drive efficiencies across its operations.
Already showing signs of being a fruitful collaboration, the oil and gas giant now has more than 300 applications that cover the essential aspects of industry operations: drilling, maintenance, procurement, human resources and more.
Creating a digital footprint
SAP’s S4/HANA platform is an integrated and streamlined solution which mitigates the need for profuse paperwork and allows all aspects of Crescent’s business to be managed in one consolidated location.
The company will also be extending the scope of its digital capabilities by integrating IoT elements into maintenance frameworks, such as sensors which can detect faults in advance and perform checks on structural integrity.
Ravi Kumar, Chief Corporate Officer at Crescent, believed that the partnership demonstrated an understanding within oil and gas that undergoing a digital transformation is crucial for the industry going forward.
“The digital oilfield market in the Middle East demonstrated how important digital transformation is for oil and gas companies focused on driving operational efficiency and excellence.
“With the successful roll-out of SAP across the UAE and Kurdistan Region of Iraq, we have a real-time, digital foundation to support our growth into the coming decades as we unlock the value of the energy resources in the region.”
Of equal importance to Crescent, Kumar explained, was the company’s opportunity to “make an impact in the communities we serve, and achieve our vision for promoting energy and social sustainability.”
Embracing Industry 4.0
Crescent’s decision to undergo a digital transformation with SAP’s guidance is indicative of the rising trend of ‘the fourth industrial revolution’ or Industry 4.0.
Envisaged as the moment when industry is finally able to optimise the technological innovations of the third industrial revolution (IoT, AI, 3D printing, etc), Industry 4.0 is predicted to transform the way we live, work and experience the world.
The efficiencies unlocked by intelligently setting a business plan within a digitally incorporated framework are profound; the difference could be very stark between those who are ahead of the trend and those who are left behind.
Evidently set on not being the latter, Crescent’s collaboration with SAP is likely to maintain the former’s position as a premier regional upstream authority in the oil and gas sector.
“Crescent Petroleum has chosen to adopt global best practices in digital transformation by simplifying and standardizing processes to enable oil and gas innovation,” said Zakaria Haltout, MD of SAP UAE.
“By harnessing SAP’s intelligent services and industry-best practice library, Crescent Petroleum has become an Intelligent Enterprise across their operations.”
Form Energy receives funding power for iron-air batteries
Form Energy believes it has cracked the conundrum of commercialising grid storage through iron-air batteries - and some of the biggest names in industry are backing its potential.
The startup recently announced the battery chemistry of its first commercial product and a $200 million Series D financing round led by ArcelorMittal’s XCarb innovation fund. Founded in 2017, Form Energy is backed by investors Eni Next LLC, MIT’s The Engine, Breakthrough Energy Ventures, Prelude Ventures, Capricorn Investment Group and Macquarie Capital.
While solar and wind resources are the lowest marginal cost sources of electricity, the grid faces a challenge: how to manage the multi-day variability of renewable energy, even in periods of multi-day weather events, without sacrificing energy reliability or affordability.
Moreover, while Lithium-ion batteries are well suited to fast bursts of energy production, they run out of energy after just a few hours. Iron-air batteries, however, are predicted to have theoretical energy densities of more than 1,200 Wh/kg according to Renaissance of the iron-air battery (phys.org)
The active components of Form Energy's iron-air battery system are some of the cheapest, and most abundant materials: iron, water, and air. Iron-air batteries are the best solution to balance the multi-day variability of renewable energy due to their extremely low cost, safety, durability, and global scalability.
It claims its first commercial product is a rechargeable iron-air battery capable of delivering electricity for 100 hours at system costs competitive with conventional power plants and at less than 1/10th the cost of lithium-ion and can be optimised to store electricity for 100 hours at system costs competitive with legacy power plants.
"This product is our first step to tackling the biggest barrier to deep decarbonisation: making renewable energy available when and where it’s needed, even during multiple days of extreme weather, grid outages, or periods of low renewable generation," it states.
Mateo Jaramillo, CEO and Co-founder of Form Energy, said it conducted a broad review of available technologies and has reinvented the iron-air battery to optimise it for multi-day energy storage for the electric grid. "With this technology, we are tackling the biggest barrier to deep decarbonization: making renewable energy available when and where it’s needed, even during multiple days of extreme weather or grid outages," he said.
Form Energy and ArcelorMittal are working jointly on the development of iron materials which ArcelorMittal would non-exclusively supply for Form’s battery systems. Form Energy intends to source the iron domestically and manufacture the battery systems near where they will be sited. Form Energy’s first project is with Minnesota-based utility Great River Energy, located near the heart of the American Iron Range.
Greg Ludkovsky, Global Head of Research and Development at ArcelorMittal, believes Form Energy is at the leading edge of developments in the long-duration, grid-scale battery storage space. "The multi-day energy storage technology they have developed holds exciting potential to overcome the issue of intermittent supply of renewable energy."
Investors in Form Energy's November 2020 round included Energy Impact Partners, NGP Energy Technology Partners III, and Temasek.
In May 2020, it signed a contract with Minnesota-based utility Great River Energy to jointly deploy a 1MW / 150MWh pilot project to be located in Cambridge, MN. Great River Energy is Minnesota's second-largest electric utility and the fifth largest generation and transmission cooperative in the US.
Last week Helena and Energy Vault announced a strategic partnership to identify additional opportunities for Energy Vault’s waste remediation technologies as the company begins deployment of its energy storage system worldwide. It received new investment from Saudi Aramco Energy Ventures (SAEV) in June.
Maoneng has revealed more details of its proposed 240MWp / 480MWh Battery Energy Storage System (BESS) on Victoria’s Mornington Peninsula in Australia (click here).
The BESS represents hundreds of millions of dollars of investment that will improve electricity grid reliability and network stability by drawing energy from the grid during off-peak periods for battery storage, and dispatching energy to the grid during peak periods.