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Dagens Næringsliv: – BTOs entrepreneurship program ACCEL valuable, says investor

The five start-up companies selected to participate in the entrepreneurship program ACCEL Drilling&Well, had their final exam last week of October where they presented their business plan to a panel of potential investors. The national business newspaper Dagens Næringsliv was present at the exam. One of the panel-participant, analyst Karen Thorsen Vatnamot in Energy Ventures, was interviewed and said this program where entrepreneurs first receives help from mentors and at the end can present themselves and their business plan to potential investors is valuable. Read the article here

Read the article published 31.st of October here (norwegian) (no longer available).

The article also includes interview with inventor Asle Ravnås in GOE-IP (Global Organic Energy). The comapny uses bacterias (microbial culture) that can be used to plug the water-bearing oil reservoir zones, and therefore increase the oil recovery ratio from resevoirs. – All milestones are reached, included securing 50% funding of the first phase. Today I am inquiring for NOK 71 million for a five year period, including one-three operators that can help install the system and try out the technology, says Ravnås in his final presentation.

In addition to the entrepreneurs, 15 students from the University of Stavanger and 22 mentors from sponsors and advisors have participated.

The 5 start up companies participating in ACCEL Drilling & Well:

Geomec www.geomec.com
Geomec provides independent well and reservoir specialist-services, in Petroleum Geomechanics, to oil and gas operators worldwide.

GOE-IP www.goe-ip.com
GOE-IP AS has developed a bio-adaptive plug  to increase the oil recovery ratio from economically empty resevoirs.

OTG Solutions AS www.otg.no
OTG has developed a software that visually presents all information that affects the rig. OTG provides services, competence and products to the global petroleum industry.

Sekal AS
Sekal supplies solutions that employ real time data from a rig to perform advanced monitoring and automated drilling by utilizing advanced models.

Stinger Technology AS www.stinger.no
Stinger Technology is developing a lightweight and cost efficient tool for environmental and geo-technical soil investigations.