The venture capital unit of Shell has taken a strategic step to invest in fully-bonded composite pipe system manufacturer Airborne Oil & Gas.
Dutch-based Airborne Oil & Gas BV is the leading manufacturer of fully bonded composite pipe systems for offshore oil and gas, and now has Shell Technology Ventures BV as an investor and shareholder.
“Shell Technology Ventures is a most welcome addition to our shareholder base, at this phase of our development,” said Eric van der Meer, CEO. “Airborne Oil & Gas is qualified to supply hydrocarbon-containing offshore flowlines to Shell worldwide. Shell can accelerate the implementation of our products across its large footprint in the industry.”
“Shell is very excited about Airborne Oil & Gas – a very innovative company, that we have known for some time now,” said Geert van de Wouw, Managing Director of Shell Technology Ventures. “Airborne Oil & Gas possesses a unique technology, with potentially game-changing impact on the offshore industry. The ultra-lightweight, corrosion free pipe systems can significantly lower the costs of a number of applications and enable new applications. Airborne Oil & Gas is built on fundamental knowledge of all aspects of composites, and their management has a great reputation in the oil & gas industry.”