Four companies will share a $100,000 purse to develop their innovative, shale-related product or service as winners of the 3rd Annual Shale Gas Innovation Contest, sponsored by the Shale Gas Innovation & Commercialization Center (SGICC), a Ben Franklin Technology Partners-supported center.
One winner, KCF Technologies, Inc. of State College, has developed a low-cost, low-power sensor used for wireless monitoring of rotating equipment, also known as condition-based maintenance. Current customers include the pulp and paper industry and the building maintenance sector. As reported last year in Keystone Edge, KCF is diversifying into the oil and gas industry, and with the support of an SGICC seed grant, is conducting a demonstration project to prove the value of its technology to this new market segment.
OPTIMUM Pumping Technology in Morgan was named a winner for its high-performance manifolds — they reciprocate natural gas compressors, eliminating pulsation control bottles and their vibration-related failures, significantly improving compressor reliability and operating efficiency. TM Industrial Supply of Erie won thanks to its technology that filters contaminants from the natural extraction process.
A fourth company, NG Innovations, Inc. of West Virginia, was also named a winner.
Opportunity abounds, but bringing shale-related products and services to market can be daunting, says SGICC Director Bill Hall.
“Until you’ve been in the trenches, so to speak, it’s hard to explain how challenging it is to advance an idea all the way to commercial success,” he explains. “SGICC’s job is to sort through the dozens and dozens of promising ideas, and identify the ones that we can impact by shining a light on them using a small amount of seed funding, and then helping them vet their concept with potential end users.”
The contest brings value, he adds, not only for the dollars but also for the wide industry exposure. He cites REV LNG of Ulysses, one of last year's winners and a supplier of “on demand” liquid natural gas. CEO David Kailbourne says the win was instrumental in propelling recent company growth.
“Our process is making a difference for the next generation of shale energy innovators,” says Hall. “Our partnership with many of the leading shale energy companies helps expose these ideas to the right audience, and fast track the best ones to a successful commercial launch.”
Source: Bill Hall, SGICC
Writer: Elise Vider