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GE & Statoil Open Innovation Challenge – Seeking Water Use Innovations in Onshore Operations

Statoil and PESA Member GE have launched a new collaboration to accelerate the development of environmentally and economically sustainable energy solutions.

With less than a month until the final deadline, GE Oil & Gas and Statoil have issued their final call for entries for their second Open Innovation Challenge – focusing on water use in shale oil and gas development. The goal of this challenge is to find innovative solutions for reducing fresh water usage, as well as treating and reusing water from development activities.

The deadline for submissions is Thursday, September 24, 2015.

The Challenge is crowdsourced and open to all: academics, engineers, individual innovators, and companies of any size. Up to five winners will be awarded an initial cash prize of $25,000 USD each, with an additional $375,000 USD available as a discretionary prize pool of development funds.