BeyonC is Joining Chevron Technology Ventures' Catalyst Program

TRONDHEIM, Norway, Dec. 29, 2022 (GLOBE NEWSWIRE) -- BeyonC today announced that it has been selected to join Chevron Technology Ventures' (CTV) Catalyst Program, an initiative to help early-stage companies mature their technologies with the aim of benefiting the energy industry around the world. The program incentivizes BeyonC to further develop proprietary technology that is designed to improve the safety of performing subsea inspections while reducing carbon emissions, potentially improving asset reliability and reducing cost.

BeyonC has patent-pending technology that provides mini-ROVs (Remotely Operated Vehicles) cost-effective on-demand asset integrity data. The BeyonC technology platform has been shown to provide a dramatic reduction in CO2 footprint compared to surveying performed by large offshore vessels. The data include status for Cathodic Protection (CP) from the industry-leading FiGS® platform that is fully integrated into the body of the ROV. BeyonC's technology supplies CP status and visual surveys for offshore installations, providing decision data for operators as well as mapping the integrity status for the offshore facilities.

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In 2023, BeyonC will target oil and gas pipelines and plans to deliver the first offshore wind integrity survey.  The CTV Catalyst Program was launched in 2017 to accelerate the maturation of early-stage companies that demonstrate technology beneficial to the energy industry. By meeting the Catalyst Program milestones, BeyonC can progress toward commercialization of its technology and complete trials with global operators in the energy sector.

Thomas Sperle, Chief Executive Officer, said, "We are proud and excited to join the CTV Catalyst program. This is a major recognition from the industry that we expect will enable BeyonC to accelerate development and commercialization of our proprietary and unique technology. We are delighted that our technology-focused approach has been recognized by Chevron Technology Ventures and we look forward to continuing collaborations in this next phase of our growth and development."

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