Equinor Technology Ventures invests in Intelligent Mud Solutions
Equinor Technology Ventures is pleased to announce an investment in Intelligent Mud Solutions (IMS).
IMS, a Stavanger based start-up, has been a part of Equinor Technology Ventures’ LOOP program since 2015, and Equinor has been a key partner in developing the company’s RheoSense technology. RheoSense accurately measures drilling fluid properties continuously and in real time.
“We are very pleased to have been able to conclude this investment which comes as a direct result of our close long-term cooperation with the highly competent team at IMS. The RheoSense technology is a central component within offshore automation and a key to safer and more efficient drilling and well operations”, says Investment Director Ivar Aune, who lead this investment on behalf of Equinor Technology Ventures.
As a leading developer of autonomous drilling fluid analysis, Intelligent Mud Solutions has installed RheoSense units on more than 6 offshore drilling units and 1 offshore support vessel. Additionally, the company has executed numerous research and development activities, e.g. Demo 2000 projects. Intelligent Mud Solutions has successfully demonstrated that its innovative and patented technology effectively reduces cost and drilling time, which indirectly reduces consumption and emissions, while at the same time exceeding the offshore sector’s stringent performance, safety and operational requirements.
“Having Equinor Technology Ventures as a shareholder will help Intelligent Mud Solutions expand internationally while further enhancing our technological leadership within autonomous fluid analysis”, concludes IMS’s CEO Pål Erik Johannessen.