Hydromea secures a spot in offshore energy accelerator

Nearly 200 applications from over 35 countries were fighting for the chance to become TechX Pioneers.  The final 16 companies battled it out in front of industry judges who awarded 10 places for this year’s cohort, starting in May. Each of the start-ups get up to £100,000 to develop their business and technology as part of an intensive 16-week accelerator programme that includes expert mentors, development partners and deep access to the industry. The focus of the program is on innovations that support the industry to maximise economic recovery and the transition to a low carbon economy.

Hydromea is among the ten selected companies. The EPFL spin-off Hydromea develops products and solutions, which allow autonomous ultra-fast and high-volume remote subsea data access in real-time for offshore energy companies. Their products render cables obsolete and replace ships and commercial divers by combining robotics and wireless communication network systems

After graduating, Pioneers have the opportunity to join a 12-month incubator called TechX+, with two companies awarded an additional share in £130,000 funding from strategic partner, BP.  All funding is provided with no equity or payback, and intellectual property is retained by the Pioneer – a distinctive approach that sets TechX apart from other global accelerator programmes.

David Gilmour, Vice President of BP Ventures said: “We look forward to accelerating the development of these companies in cohort 2, including an exciting number of cleantech solutions that will help deliver the industry’s focus on secure, sustainable energy while advancing a low carbon future.” 

The Oil & Gas Technology Centre was established in October 2016 with £180 million funding as part of the Aberdeen City Region Deal. As an industry-led research and knowledge organisation, the Centre is backed by both the UK and Scottish governments to fund and direct projects that help to unlock the full potential of the UK North Sea.