Building new business
Photo: Ole Jørgen Bratland/Equinor
The energy transition creates multiple opportunities to develop and implement new technologies and incubate, then build new businesses for a more sustainable future.
We can’t do this alone, and so collaboration and partnerships are a vital part of how we work. We have some great examples of early phase business opportunities that can become profitable and significant businesses in the future.
Here, we use our competence and capabilities in creating and managing strategic partnerships to accelerate a new industry. Some examples of this are direct lithium extraction and 3D printing:
Direct lithium extraction
Direct Lithium Extraction is emerging as a lithium production method with a lower environmental footprint than traditional methods. Lithium can be extracted from lithium-rich saltwater typically from deep underground reservoirs.
After extraction of lithium, the saltwater is pumped back into the ground. Equinor has entered a strategic partnership with Standard Lithium to mature lithium projects in the USA.
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Direct Air Capture (DAC)
The world must remove carbon from the atmosphere to meet climate goals and the Paris Agreement. At Equinor, we are developing a Direct Air Capture (DAC) technology that is designed to be safe, scalable, and affordable.
We continue to innovate and mature the business case for DAC while fostering partnerships with both private companies and governments.
3D printing
3D printing, or Additive Manufacturing (AM), is becoming a reality enabling industries to cut emissions, cost and time.
Equinor has partnered with several innovative companies, suppliers and energy companies in recent years to mature the technology to an industrial scale.
From science fiction to reality
In Equinor, we are using 3D printing to produce spare parts on demand, reducing lead times, physical warehousing and improving functionality. Here's how: