Shell Start-up Engine: Shaping the Energy Future with Technology Innovations

by User Not Found Oct 25, 2023, 18:53 PM

Panel 2 saw more Singapore start-ups showcase transformative technologies to drive sustainability and efficiency. Anthony Cebokli, Associate, Infrastructure Advisory - Deal Advisory, KPMG Services Pte Ltd Singapore, reports. This article is contributed by KPMG - the official Content Partner for SIEW 2023.

The second panel of the discussion focused on the challenging journey of scaling innovations in the energy sector, a critical component of achieving a sustainable energy transition. Four local startups - Flint, Nika.eco, AliciaBots, and Grundup.AI, each at different stages of growth, shared their experiences in advancing groundbreaking innovations in the energy landscape. While energy plays a pivotal role in our daily lives, and the transition to cleaner, more sustainable energy sources is vital, however, scaling innovations in such a complex sector, from ideation to commercial viability, poses significant challenges.

Paper batteries - A sustainable energy storage solution

Nandar Nyein Wai, Research Analyst at Flint, introduced their game-changing paper battery technology. This innovation offers a sustainable and cost-effective solution for energy storage, a fundamental requirement for energy transition. What sets Flint's paper batteries apart is their reusability, biodegradability, and low cost. ‘’Our innovation has managed to achieve up to 60% of the performance of standard lithium batteries,’’ she said.

By enabling rechargeability and eliminating the need for cobalt, which is a toxic component, Flint's paper batteries present a promising alternative to traditional lithium batteries.

AI-driven transformation in climate finance and industrial operations

Artificial intelligence (AI) is ushering in a transformative era in nature-based carbon projects, stated Johann Wah, Co-founder, Nika.eco. The climate tech company leverages AI-driven solutions to streamline the laborious evaluation of such projects, significantly expediting the feasibility assessment process. This acceleration enhances the efficiency of climate finance, attracting more investment into sustainable initiatives, and expediting the transition to a net zero world.

"In the AI space, speed is crucial. As an AI software company, our advantage lies in how fast we can develop. Fortunately, we've gained early traction with our two products. Our next steps involve building more features and services to deepen our impact and expand our offerings,’’ said Mr Wah.

Meanwhile, Groundup.ai's AI technology as explained by Si En Toong, Head of Marketing, focuses on minimising unplanned downtime in machinery and equipment across diverse sectors. By employing AI-powered sensors and data analysis, they predict maintenance needs, offer recommendations, and improve energy efficiency, contributing to sustainable and efficient industrial operations.

Underwater robotics for fuel efficiency

Inder Mukhopadhyay, Chief Executive Officer at Alicia Bots, unveiled their revolutionary underwater magnetic crawling robot at the panel. This innovative technology addresses a pressing concern in the maritime industry: the buildup of marine growth on ship hulls, which leads to increased fuel consumption.

“Annually, the maritime and oil and gas industries collectively spend approximately $25 billion, accounting for about 37 million metric tonnes of fuel consumption on a persistent issue known as hull fouling,” said Mr Mukhopadhyay.

Alicia Bots' solution not only inspects but also cleans these underwater areas while ships are in motion. The potential impact is significant, as it could reduce fuel consumption by millions of metric tonnes and, consequently, lower carbon emissions, thus contributing to the broader goal of a sustainable and cleaner energy sector.

The panel discussion highlighted transformative innovations in the energy sector. Flint's paper battery offers eco-friendly energy storage, crucial for the energy transition. Nika.eco's AI tools speed up climate finance projects by simplifying complex carbon assessments. Alicia Bots' underwater robotics enhance maritime fuel efficiency, reducing carbon emissions. Groundup.ai's industrial AI minimises energy waste for a cleaner energy landscape. These startups drive sustainability and efficiency, aligning with the global transition to a net zero world. Their journey underscores tech's role in shaping the energy future.