Rocsole secures funding from Shell
Finnish tomography company Rocsole’s additional funding round was led by Shell Technology Ventures (STV), the corporate venture capital arm of Royal Dutch Shell.
Rocsole specialises in real-time tomography, and its current products include a pipe sensor for both topside and subsea pipes, providing real-time information on the flow and deposition buildup in the pipe. This is done through probe sensor technology which can be used in separators when extracting oil and water.
The additional funding enables Rocsole to expand its product portfolio with a smart deposition pig sensor, which enables efficient deposition monitoring of a customer’s entire pipe network from the inside. This allows operators to prevent pipes from clogging, which can save operators millions of dollars.
STV managing director Geert van de Wouw says that the technology that can reduce downtime and optimise production is critical for Shell operations, both onshore and offshore.
“Roscole’s smart pig sensor could change the way we inspect subsea pipelines by allowing us to quickly obtain flow and deposition insights using their non-invasive and accurate analytics,” he notes.
Anssi Lehikoinen, Rocsole chairman, tells that the company is excited to work with a strategic investor.
This is the second investment in Rocsole by an international oil and gas company in 2016. Earlier this year, Spanish oil company Repsol led a fundraising round.
Rocsole is set to have the service concept in global distribution by 2018.