Possibly an understatement amidst all the chaos of 2020!
The ever increasing global push towards an energy transition led our sister company, 1st Subsurface, to refocus and split the green energy side of the business from the fossil fuel side - in May 2020 TROVE Renewables Limited was founded! The decision to split the two sides of the business allowed a sharper focus on the energy transition and enables us to focus all our efforts on renewable technologies.
Some of the unique challenges we faced when setting up a company in the middle of a global pandemic and economic downturn were to be expected - many people have been too busy to take meetings and their focus has been elsewhere. There were however other issues that we did not expect. When we tried to set up a business bank account we were told by many of the high street banks that this service wasn't available!
We were fortunate enough to launch with a number of products already developed from the work carried out by 1st Subsurface. Now our impressive range of products covers Wind, Wave, Tidal, Solar, Geothermal, CCUS, Hydrogen and Energy Storage. Many of these KnowledgeBases have global coverage - find out more here.
As part of our launch we released a free version of a directory of companies operating in Offshore Wind (which is still available to download here).
Throughout the year we have posted educational blogs explaining key technologies in the Energy Transition. You can read the whole series here.
"What determines the ‘best’ storage sites?"
In October 2020 we presented at the CCUS Conference run by SPE and discussed what determines the 'best' CCS sites using the TROVE CCUS KnowledgeBase which holds information on every active, completed, terminated and potential CCUS project globally. We have already captured data on over 300 projects from more than 30 countries and continue to add more. The slides from the presentation (Screening CO2 Storage Sites – North Sea+) can be accessed using this link.
In the new year we expect to be releasing a video demonstrating the value of TROVE CCUS. We also expect to post a blog explaining exactly what CCUS is and how it works.
What can you expect to see from us in 2021?
In November we expanded our team meaning we can get off to a flying start in the new year. Throughout 2021 we will continue to develop our TROVE KnowledgeBases - adding data, new projects, and information from a wide variety of sources. You can expect to see us at more conferences and keep an eye on our YouTube channel for videos we will be posting throughout the year!
Finally, we'd like to thank our subscribers and supporters for your continued support in difficult times!
“Starting a company in the midst of a pandemic is a little novel – looking to expand and grow when many are looking to contract or simply survive. In addition to the predicted challenges of starting a business in an economic downturn, there are some additional obstacles – for example many banks are not offering business account services to new businesses during the lockdown. However, we are confident there is a strong demand from many companies for information on renewables. Even during the pre-launch, the level of interest from potential clients has been fantastic.” Mike Cooper (Managing Director)