NEWS & INSIGHT | article
NZTC launches new Net Zero Technology Services business to help companies accelerate their journey to net zero
The Net Zero Technology Centre (NZTC) today [25 October 2022] announces the launch of its Net Zero Technology Services business.
The new offering will provide the energy industry and investors with insights and foresights on current and emerging net zero technologies, helping organisations leverage technology to navigate and accelerate their journey to net zero.
NZTC was created in 2017 as part of the Aberdeen City Region Deal (ACRD), with £180 million of UK and Scottish government funding to be the go-to technology centre for the North Sea energy industry. Since its inception, the Centre has been at the forefront of technology development and deployment, securing the reputation as a visionary and pioneer in disruptive innovation. The strategy to create an independent commercial business, exclusive of ACRD funding, builds on the Centre’s extensive success and provides an additional source of funding to the overall innovation activities of NZTC.
Two new solutions are introduced with the launch, Technology Roadmapping and Technology Due Diligence, both of which are powered by the Net Zero Technology Services proprietary NetZeroTS™ database.
The Technology Roadmapping solution provides organisations with high carbon emitting plants and assets unmatched insight and foresight into proven, emerging and future technologies across zero emissions power, zero routine flaring, venting and fugitive emissions. It determines which innovative technologies can be adopted and deployed across assets to help achieve decarbonisation goals.
Technology Due Diligence provides insight to help investors make better technology investment decisions; ascertaining the legitimacy of a technology, its true technology readiness level, gaps in readiness and scalability, and how investable it is.
The new solutions are already being actively used by industry and investors, with a number of successful pilots underway and Technology Due Diligence scopes delivered.
Luca Corradi, Director, Net Zero Technology Services said: “This is an exciting time for NZTC as we expand our offering and capability with the launch of Net Zero Technology Services and its associated solutions. We’re responding to market demand with organisations asking for specific technology innovation insight.
“For industry, decarbonising operations and understanding the viability and readiness of technology is complex. We break that complexity down helping asset owners leverage technology and investors take the guess work and risk out of their next technology investment. We’re immersed in innovation and technology trends and with this brings unmatched insights.”
Colette Cohen, CEO, Net Zero Technology Centre said: “Today’s launch is a significant achievement for NZTC as we evolve our strategy and operating model to encompass a much broader service offering.
“Providing organisations with insight which will be invaluable to their operations and investment decisions, our new Technology Services business builds on the extensive expertise NZTC has developed and honed over the last five years.”
Scottish Government Business Minister Ivan McKee said: “The Net Zero Technology Centre is playing an important role in the transition to an affordable net zero energy industry.
“Today’s launch marks an important milestone in the centre’s development, reflecting its growing reputation and connections within the energy sector.
“It demonstrates NZTC’s potential to continue making an impact beyond the Aberdeen City Region Deal, from which it has received £90 million in Scottish Government investment.”
UK Government Minister for Scotland David Duguid said: “It’s been fantastic to see innovative and affordable technology solutions developed and deployed by Net Zero Technology Centre over the last five years, taking us a step closer to the delivery of a net-zero economy.
“The launch of these new services shows the importance of the UK Government’s £90 million investment in accelerating energy transition while bringing new jobs to the region in the long term.”
Councillor Alex Nicoll, Co-leader of Aberdeen City Council and chair of the ACRD joint committee, said: “The launch of the new Net Zero Technology Services demonstrates perfectly the value of the Deal to the North East and wider country. The move to develop a new source of revenue will help anchor research, technology and skills here, and support businesses as they transition to Net Zero.
“The programme of investment made through the ACRD has innovation at its heart, has been delivered at pace, and continues to bring economic and environmental benefits. The NZTC has continuously adapted in response to new challenges and opportunities in the energy sector and today’s announcement is another fine example of that.”
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