February 19, 2020

First five Open-Innovation Platform projects approved for development

On January 31, 2020, the Novomet Expert Commission met to review Open-Innovation Platform applications.  The commission consists of top Novomet executives and is headed by CEO Maxim Perelman.

Twenty-eight Open-Innovation Platform applications made it through the pre-moderation process. Twenty-one were considered by the Expert Commission.

The commission discussed pros and cons of each project, including project merit, commercial viability, and potential for further development.

At the end of the session, the commission picked five projects to support. These five applicants will be offered agreement options that typically include the following types of support from Novomet:

  • Direct investment
  • Manufacturing and technological support
  • Bench and pilot testing
  • Joint R&D and prototyping
  • Access to sales channels and possible creation of a joint venture

Novomet opened the Open-Innovation Platform at www.novometgroup.com/innovations 6 months ago as a portal for finding great ideas and projects for new manufacturing methods and new technologies in the oil and gas industry. Both individuals and businesses are invited to apply. The primary segments of interest are artificial lift, well completions, process automation, oil production efficiency, oil treatment and transfer, offshore operations, software, VR and AR technologies, electrical drilling, and other related technologies. Projects from any stage (idea, completed R&D, prototype, pilot manufacturing, operating business) are considered.

The Open-Innovation Platform offers individuals and businesses the opportunity for quick acceleration and commercialization of worthy projects.  The Expert Commission will meet again to review applications in April 2020.

Submit your application now for consideration!