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Creating a new business
Challenge
Al Gore and the UN IPCC had just been awarded the Nobel Peace Prize and the environmental crisis was on everybody’s mouth. Carbon capture and storage (CCS) had been pinpointed as one of the key measures to mitigate climate change, and could represent a huge market potential for those who could offer a solution. An industrial group had been working on carbon capture technology for more than 15 years and was now looking into how this technology best could be further developed and commercialised.
Approach
A new company was established, gathering all the CCS competence and technology of the industrial group, and Arkwright was engaged to function as the strategy advisor and business development arm of the new company in this early and critical phase. Key client personnel and Arkwright consultants worked as an integrated team covering all aspects of setting up the business. Arkwright developed the overall business plan, including mission, commercialisation strategy, market and customer analysis, competitor and technology assessments, revenue models and financial projections. Further, Arkwright supported in partner evaluations and negotiations, as well as communication towards various stakeholders, hereunder potential partners and customers, environmental organisations, authorities and the public.
Result
The new CCS company teamed up with the engineering and construction arm of the industrial group, enabling the new business to deliver turnkey carbon capture facilities. Cooperation was established with one of the world’s leading CCS research environments to further develop the technology. The company also got engaged in several CCS projects, including being pre-qualified for the UK government’s CCS competition in a partnership with a major UK utility and a US based oil company. A few months after the Arkwright engagement ended, the company was awarded a full EPC contract for the world’s biggest carbon capture demonstration facility of its kind.
