AMS Wins Energy Technology Competition Grant
Autonomous Marine Systems Inc. (AMS), a marine data collection, monitoring and transmission solutions provider, recently won first prize in the oil and gas track of the Longhorn Energy Club’s Energy Technology Competition, the company announced.
The competition is held in conjunction with the University of Texas Energy Week conference hosted by the Energy Institute and student-run Longhorn Energy Club, and brings together experts and energy leaders to examine vital energy issues and the latest advances in technology innovation. In addition to panel discussions, public forum and student posters, Energy Week also supports the Longhorn Energy Club’s Energy Technology Competition, which provides a unique opportunity for students, faculty, entrepreneurs and early stage companies to showcase their ideas and business concepts to a broader audience. The competition is focused on early stage companies with technology or software in the prototype phase of development with clear value to the market in the areas of CleanTech, Water and Resources, and Oil and Gas. AMS’ rainmaker and company adviser Scott Nguyen, presented how the current challenges in offshore data collection and survey applications are limiting new oil and gas market discoveries, and how the company’s robotic technology will bring real-time ocean intelligence to the industry.
“Accurate, reliable and quality data are critical to exploration and production operations and allow energy providers to make timely decisions and respond proactively to the evolving dynamics of the ocean environment – from surface, subsea, and atmospheric conditions,“ stated Scott Nguyen. “AMS solutions are built around a combination of advanced autonomous marine robotic technologies - the AMS Datamaran and proprietary data software tools that are designed to increase operational and mission efficiencies while reducing HSE risk and liability."
Along with the $15,000 grant, Energy Technology Competition winners received a one-year appointment in the Austin Technology Incubator. Winners also exhibit during UT Energy Week and are connected directly with supporting venture capital and angel investment groups.
“UT Energy Week and the Energy Technology Competition is an extremely important platform to strengthen start up and emerging businesses,” stated T.J. Edwards, CEO of AMS. “Events and competitions like these setup entrepreneurs for success through financial support, direct connections to industry decision makers, and the ability to network with regional venture and angel groups. The application process focused on early stage companies’ tangible value to specific market applications. We are excited that the team of judges sees the value in our business solution.”
