ADNOC Awards $1 Million Piloting Opportunity to Revterra in Decarbonization Technology Challenge Final
Award to Houston-based producer of novel batteries from recycled steel follows global competition which attracted 650 climate tech start-ups from 50 countries
Revterra to pilot its kinetic battery technology to support ADNOC’s efforts to advance climate technology solutions as it works towards net zero by 2045
Abu Dhabi, UAE – December 8, 2023: ADNOC has awarded a million-dollar (AED3.67 million) piloting opportunity to Revterra, a Houston-based producer of novel batteries made from recycled steel. The award follows a global competition by ADNOC, in collaboration with AWS, bp, Hub71, and the Net Zero Technology Centre, to find emerging climate tech innovations ready for scale.
The ADNOC Decarbonization Technology Challenge drew 650 applicants from across 50 countries. Applicants specialized in innovations including digital applications, carbon capture utilization and storage (CCUS), new energies, oil and gas emissions reduction and advanced materials for decarbonization, and nature-based solutions.
Musabbeh Al Kaabi, ADNOC Executive Director for Low Carbon Solutions and International Growth said: “ADNOC is leveraging partnerships and innovative climate technologies to accelerate our decarbonization goals and responsibly enable the energy transition. The ADNOC Decarbonization Technology Challenge supports this objective, and we congratulate Revterra for emerging victorious amongst very competitive submissions from around the world. We look forward to working with Revterra to unlock cutting-edge solutions that will enhance efficiencies and continue decarbonizing our operations.”
Revterra was selected from among 10 finalists at an event in Dubai. As well as receiving up to $1 million (AED3.67 million) in piloting opportunities, they will gain access to facilities and expertise at the state-of-the-art ADNOC Research and Innovation Center in Abu Dhabi.
Patrick Flam, Chief Financial Officer, Revterra, said: “We are thrilled to win this opportunity. At Revterra, we have developed an environmentally friendly battery that doesn’t rely on metals like lithium, nickel, or cobalt. Instead, our 2MW batteries are built using recycled steel and rely on rotational energy storage technology to achieve maximum power with a minimal environmental footprint. I am excited to work with our new partners at ADNOC to further develop our solution and deploy it across ADNOC’s operations.”
ADNOC is accelerating the decarbonization of its operations and is reducing its carbon intensity by 25% by 2030 and aiming towards net zero by 2045. ADNOC’s decarbonization plans are backed by an initial allocation of $15 billion (AED55 billion) towards low-carbon solutions, new energies and climate technologies.
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