NEWS & INSIGHT | article
ADNOC Launches $1 Million global Decarbonization Technology Challenge
- Decarbonization Technology Challenge led by ADNOC in collaboration with AWS, bp, Hub71 and Net Zero Technology Centre
- Competition open to energy transition technology innovators around the world
- 10 finalists will pitch their innovations to judges in December 2023, with winners receiving up to $1 million to pilot technology with ADNOC
ADNOC today launched a global competition to find innovations that will reshape the global energy landscape. The Decarbonization Technology Challenge is being supported by Amazon Web Services (AWS), bp, Hub71, and the Net Zero Technology Center.
The competition was launched at UAE Climate Tech Forum in Abu Dhabi, where over 1,000 global policy makers, innovators, and industrial leaders met to drive technological solutions for decarbonization.
Ten finalists will be invited to pitch their innovations to a panel of judges in December 2023. Winners will receive up to $1 million (AED3,670,000) in piloting opportunities with ADNOC. Scale-up companies specializing in carbon capture utilization and storage (CCUS), new energies, oil and gas emissions reduction, digital applications and advanced materials for decarbonization, and nature-based solutions are encouraged to apply.
Musabbeh Al Kaabi, Executive Director, Low Carbon Solutions and International Growth Directorate, ADNOC said: “We are delighted to launch the Decarbonization Technology Challenge alongside our partners. ADNOC has earmarked $15 billion for landmark decarbonization projects by 2030, including carbon capture, electrification, new CO2 absorption technology and enhanced investments in hydrogen and renewables. We look forward to nurturing companies with the most promising innovations that can help transform, decarbonize, and future proof the global energy sector.”
The search will culminate in a final in the UAE in December 2023. 10 shortlisted entrants will be invited to present their ideas to a panel of expert judges. As well as receiving up to $1 million (AED3,670,000) in piloting opportunities, winners will gain access to state-of-the-art research and innovation facilities in Abu Dhabi.
Entrants have 12 weeks to compile their applications and submit via a portal on decarbonization-challenge.com by Friday, August 11, 2023. The website outlines the entry criteria for participants.
The competition is being delivered in partnership with the Net Zero Technology Centre and supported by AWS, bp and Hub71. It supports ADNOC’s strategy to convene cross sectoral partners to find fresh and meaningful solutions to accelerate a responsible energy transition. AWS, bp and Hub71 will provide additional funding, panel judges and business support for the winners.
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