One of the best parts of my job as an implementation manager at Shell Ventures is that I get to help make our team “more than an investor”. Bringing that ambition to life means that we aim to facilitate a win-win situation for both the startups we invest in and Shell. On the one hand, Shell’s businesses get accelerated access to new technologies, while at the same time, allowing our portfolio companies to grow from a startup to a partner in our supplier base.
I want to reflect in this article on our collaboration with a company called Halfwave.
Innovating in inspection technology
Back in 2017, Shell Ventures invested in Halfwave to scale up the deployment of its pipeline inspection technology and accelerate further product development. Halfwave’s technology is unique because it can measure pipeline integrity using ultrasonic technology in gas, as well as being able to accurately size the internal and external metal loss features. We were also impressed by their ability to handle highly challenging pipeline inspections, for example, lines with multiple diameters and junctions. Ever since, Shell has used Halfwave’s technology to inspect hundreds of miles of pipelines in multiple geographies, and was able to get integrity data for lines that we previously considered to be “un-inspectable”.
Recently, we have taken the next step in our journey, deploying Halfwave’s external pipeline inspection tool in one of Shell’s sub-sea lines at over 2300m water depth. It is inspiring to see a “startup” company that we invested in only two and a half years ago deliver a valuable service in such a challenging environment. Hats off!
One thing that I have learned from this experience is that as a company, we need to keep in mind that a startup is not a multi-billion-dollar service company. Accommodating their needs and making sure our corporate systems are flexible enough to do so, is crucial for a successful collaboration. Within Shell Ventures, we have recently welcomed a dedicated supply chain manager to the team, to help us play our part in this journey.
Overall, teaming up with Halfwave through Shell Ventures was a fantastic example of how a large corporate like Shell and a startup can successfully collaborate to deliver valuable business solutions. The most important driver for these achievements were the people involved. I continue to be impressed by the innovative spirit that we have in our assets, and the willingness of people to go beyond the beaten path to achieve better outcomes. In this case, Shell’s pipeline community took a deliberate decision to work with a new player they had not used before. It takes courage to do so, and it is thanks to their support that we can innovate and get true value out of technology.