Barclays Eagle Labs will work alongside partners on an energy technology programme aimed at accelerating digital transformation in the sector.
Fifteen Emerging digital tech firms are working together on the twelve-month EnergyTech Programme, alongside major players from across the energy industry to drive transformation and culture change in one of the UK’s largest industrial sectors.
The EnergyTech initiative will run in partnership with Opportunity North East (ONE) and CodeBase, and bring together company leaders from big business in the energy sector and UK start-up and scale-up leaders via monthly virtual meetings.
The meetings will allow for combined expertise and discussion around specific shared challenges as the industry works towards a sustainable model.
Startups build domain expertise and incumbents are introduced to new technologies, skills and cultures to transform and accelerate innovation, helping realise the UK industry ambition to become a global leader in sustainable energy.
Commenting on the programme, Steve Shearman, founder of one start-up cohort eCERTO, said: “The EnergyTech programme is a hyper accelerant and provides the framework to really engage with leaders around hard to solve problems and quickly leverage technology regardless of company size.
“After just three sessions, the relationship building and quality of conversation is hugely refreshing. In addition, engagement outside the scheduled meetings is building a genuinely strong and cohesive cohort and peer group.”
Jennifer Craw, Chief Executive, Opportunity North East, added: “The northeast of Scotland is home to an exciting and growing cluster of early-stage digital businesses at the forefront of disruptive technology; and a world-leading, innovative energy sector.
“EnergyTech builds the trust and relationships to harness the agility and fail fast methods of early-stage companies to support the energy sector and help it to embrace digital technology as a key enabler to shape the future of energy.”
Future EnergyTech meetings will focus on culture, digitising the supply chain, data sharing and digital twins and planning is underway for the next cohort of innovative digital tech companies for the programme.
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Dan McAteer, VP Energy at global project and asset services firm, Worley, said that the UK energy sector has traditionally been highly regulated and risk-averse.
“Established practices and operating models have been difficult to disrupt, meaning the pace of change has lagged other sectors. But given the scale and pace of the energy transition, change is essential,” he said.
“Transformation outcomes will only be achieved with a pioneering mindset, and a willingness to combine new technology with new ways of thinking and working. EnergyTech is an excellent platform to showcase technologies and solutions that will continue to accelerate the energy industry’s transition,” he added.