Energy technology firm ClearWell, of Aberdeen, has moved into larger premises, rebranded and made its debut in an overseas renewables market.
The company was until recently known as Clearwell Oilfield Solutions.
But it has changed its name to ClearWell Energy, saying the new moniker is to “better reflect its market position and ambitious growth strategy”.
The rebrand is in step with a raft of other firms, as well as industry organisations such as Oil and Gas UK and the Oil and Gas Authority (now Offshore Energies UK and North Sea Transition Authority respectively), that have ditched any reference to fossil fuels in their names.
ClearWell said it had also entered the geothermal energy market for the first time.
In February it installed technology for a utility company at a geothermal power station in Germany.
Entering the renewable energy market presents an exciting opportunity for business growth, with an estimated 400 suitable geothermal power and heat facilities that we could be supporting in Europe alone.”
Keith Coutts, chief executive, ClearWell Energy.
The company has grown its Aberdeen headcount to 13 people from just three at the end of 2019.
Meanwhile, it has more than quadrupled its footprint in Dyce after a move to larger premises of around 3,500sq ft in South Wellheads Industrial Estate.
It was previously based in 800sq ft of FrontRow Energy Technology Group’s incubator facility on Wellheads Crescent.
The firm said it had also added new manufacturing and testing facilities, and was continuing to invest in “ongoing” research and development.
Recent expansion has been driven by growing demand for ClearWell’s chemical-free, electromagnetic scale control technology, despite the challenges of Covid-19, the company said.
Revenue for 2022 is expected to come in at around £3 million, up from £2.1m last year.
Novel approach to reducing scale
The firm’s technology uses a low frequency electromagnetic signal to inhibit mineral scale formation in “wet” infrastructure such as wells, pipelines, processing facilities and storage tanks.
It is also designed to protect expensive internal components, such as pumps and valves, from failure.
According to ClearWell, the technology can replace traditional approaches, such as continuous injection of bulk chemical inhibitors and acid washes, to deliver “impressive flow assurance”.
Balanced portfolio
Chief executive Keith Coutts said: “Entering the renewable energy market presents an exciting opportunity for business growth, with an estimated 400 suitable geothermal power and heat facilities that we could be supporting in Europe alone.
“Applying our skills and technology will improve geothermal efficiency for asset owners, but also provide our business with a balanced energy portfolio and opportunity to improve our carbon offset.”
The European renewables market is an ideal springboard for the firm’s global growth ambitions, Mr Coutts said, adding: “ClearWell technology is eminently suited to geothermal applications because variations in temperature, pressure, flow and liquid states are common – and act as key contributing factors in the formation of scale.
“The use of chemical treatments is often prohibited in this sector, so with its environmentally friendly credentials, ClearWell is a valuable flow assurance solution.”
Jointly owned by MSL and FrontRow
ClearWell has UK offices in Aberdeen and Southampton, and an overseas presence in the US and Canada.
The company has installed more than 250 of its non-invasive, chemical-free, scale control systems to clients across Europe, Africa, the Americas, Asia and Australasia.
It is jointly owned by Hampshire firm MSL Oilfield Services and FrontRow Energy Technology Group, the Aberdeen-based investment consortium focused on nurturing new technology to deliver practical solutions to global oil and gas sector challenges.
