General Electric and Statoil announced the winners of its inaugural Open Innovation Challenge, which focused on addressing the use of sand in unconventional operations.
Sand plays a critical role in shale development and the hydraulic fracturing process. The proppant is mixed with water and injected into a formation to stimulate or prop open the tiny fractures, enabling oil and natural gas to flow freely.
By focusing on sand, which requires hundreds of truck trips to transport, the challenge looked for solutions that have the potential to reduce the environmental impacts on local communities, lessen emissions and make energy production more efficient.
The following five winners were selected from more than 100 submissions from over 30 countries.
Each winner will be awarded an initial cash prize of $25,000 and will be eligible to receive additional funding from an available discretionary prize pool of $375,000 for potential development or commercialization.
The second Open Innovation Challenge — focusing on water in unconventional energy development — was announced earlier this month and remains open for submissions.
Photo: pumpjacks via Shutterstock.