Statoil and NASA reach agreement
Statoil and NASA have formed an agreement to explore a wide range of technologies to assist Statoil in the search for oil and gas exploration and production efforts, which are increasingly moving into frontier regions. The contract with NASA is effectuated at Jet Propulsion Laboratory (JPL) at Pasadena, Calif., which is managed by the California Institute of Technology (Caltech).
“This agreement is the latest example of how NASA and JPL technologies can benefit us here on Earth. It's also an example of how collaborations with other industries can be beneficial to space exploration,” said JPL director Charles Elachi.
Statoil has a solid track record of being an innovative energy company and are always looking for safer, more cost effective and smarter solutions. Collaborating with world leading institutions, working across disciplines, has led to innovative solutions for Statoil.
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“Searching for oil and gas resources has become so advanced technically over the past decade that new solutions and ideas are needed. To Statoil this is a significant opportunity to take technologies developed by NASA and JPL for the harsh and challenging environments of space and apply them to the equally demanding environments of oil and gas production,” said Lars Hoier, Statoil acting senior vice president of research, development and innovation.
“We're excited to work with NASA – one of the leading research organizations globally – to evaluate the development and application of technologies that have more in common with outer space exploration than previously thought.”
Statoil is among the most technology-intensive of major energy producers, and annually spends USD 550 million on research, development and innovation. The agreement with NASA is complementary to the work Statoil already has underway.
The contract between Statoil and NASA is expected to run from 2013 to 2018 (with the option of contract extension), and will focus on the following research areas: supercomputing, materials, robotics, development of new tools, and communication optionality.
Statoil is an international energy company with operations in 36 countries and is headquartered in Norway with 21,000 employees worldwide.
Hydrostor receives $4m funding for A-CAES facility in Canada
Hydrostor has received $4m funding to develop a 300-500MW Advanced Compressed Air Energy Storage (A-CAES) facility in Canada.
The funding will be used to complete essential engineering and planning, and enable Hydrostor to plan construction.
The project will be modeled on Hydrostor’s commercially operating Goderich storage facility, providing up to 12 hours of energy storage.
Hydrostor’s A-CAES system supports Canada’s green economic transition by designing, building, and operating emissions-free energy storage facilities, and employing people, suppliers, and technologies from the oil and gas sector.
The Honorable Seamus O’Regan, Jr. Minister of Natural Resources, said: “Investing in clean technology will lower emissions and increase our competitiveness. This is how we get to net zero by 2050.”
A-CAES has the potential to lower greenhouse gas emissions by enabling the transition to a cleaner and more flexible electricity grid. Specifically, the low-impact and cost-effective technology will reduce the use of fossil fuels and will provide reliable and bankable energy storage solutions for utilities and regulators, while integrating renewable energy for sustainable growth.
Curtis VanWalleghem, Hydrostor’s Chief Executive Officer, said: “We are grateful for the federal government’s support of our long duration energy storage solution that is critical to enabling the clean energy transition. This made-in-Canada solution, with the support of NRCan and Sustainable Development Technology Canada, is ready to be widely deployed within Canada and globally to lower electricity rates and decarbonize the electricity sector."
The Rosamond A-CAES 500MW Project is under advanced development and targeting a 2024 launch. It is designed to turn California’s growing solar and wind resources into on-demand peak capacity while allowing for closure of fossil fuel generating stations.
Hydrostor closed US$37 million (C$49 million) in growth financing in September 2019.