Airborne Oil & Gas BV (IJmuiden, The Netherlands), a manufacturer of fully bonded composite pipe systems for offshore oil and gas applications, reported on Nov. 30 that it has added Shell Technology Ventures BV as investor and shareholder.
“Shell Technology Ventures is a most welcome addition to our shareholder base at this phase of our development,” says Eric van der Meer, CEO of Airborne Oil & Gas. “Shell has a reputation for technology innovation and early adoption. We are proud to be associated with Shell, and expect to learn a lot from the cooperation. Airborne Oil & Gas is qualified to supply hydrocarbon-containing offshore flowlines to Shell worldwide. Shell can accelerate the implementation of our products across its large footprint in the industry.”
“Shell is very excited about Airborne Oil & Gas – a very innovative company, that we have known for some time now” Geert van de Wouw, managing director of Shell Technology Ventures responds. “Airborne Oil & Gas possesses a unique technology, with potentially game-changing impact on the offshore industry. The ultra-lightweight, corrosion-free pipe systems can significantly lower the costs of a number of applications and enable new applications. Airborne Oil & Gas is built on fundamental knowledge of all aspects of composites, and their management has a great reputation in the oil and gas industry.”
Airborne Oil & Gas designs and manufactures fully bonded thermoplastic composite pipe systems for offshore oil and gas applications. Manufacturing takes place in a purpose-built facility with direct sea access near Amsterdam, The Netherlands, via a patented production process. The pipe systems are substantially lighter than steel, and completely corrosion free. The company recently signed a number of contracts with offshore industry leaders for a variety of offshore applications. These include pipeline pre-commissioning, well intervention and stimulation, and oil and gas transportation.
Shell Technology Ventures is Shell’s venture capital unit. The fund was established in 2013 and aims to invest several hundred million dollars in promising technology companies in the coming years. Shell Technology Ventures invests in companies in the worldwide energy sector with the aim to accelerate development and deployment of new technologies that complement Shell. To this end Shell Technology Ventures acts as investor and partner in commercializing promising technologies.