London Town Group Get in touch Home About News Team Contact S-Cube Shifts Strategy Towards the Energy Transition S-Cube Shifts Strategy and Receives the Highest Nominations in the Lloyds Bank National Business Awards LONDON, UK – Oct 14th, 2020 - S-Cube continues to gain business recognition for accelerating innovation in seismic imaging and artificial intelligence (AI) to drive upstream efficiency and carbon neutrality goals in the energy sector. The company has been shortlisted for Lloyds Bank National Business Awards 2020’s The Data Excellence Award, The Artificial Intelligence Award and The LDC Growth Through Innovation Award - the highest number of nominations for a single company. Previous winners of the prestigious awards include Darktrace, now an established world-leader in Cyber AI, boasting a 3,500-strong international client base including blue chip names eBay and Samsung. S-Cube is an award-winning tech startup spun out from globally top ten ranked university Imperial College London, focused on developing innovative deep-learning and optimisation tools to create industry-wide value, collaborating with some of the world’s largest energy companies. S-Cube is launching X-Waveform Inversion (XWITM), a product for unravelling raw echoes from deep within the earth to directly generate an image of the subsurface with zero or minimal human intervention. The technology will solve long-standing problems in the sector associated with long cycle-times and reduced operational efficiency. The integrated SaaS offering is initially to be deployed in focused Infrastructure-Led-Exploration (ILX) scenarios and Carbon Capture Utilisation and Storage (CCUS) sites, but with an optimisation toolbox which can extend to CCUS for hydrogen or gas-too-power projects. Franz Deimbacher, Worldwide Technical Lead, Energy, Amazon Web Services Inc. comments: “AWS Technology Partner S-Cube’s recognition at the Lloyds Bank National Business Awards 2020 follows the launch of their uniquely engineered cloud-native architecture, with promising potential use cases for the energy transition. Large-scale optimisation problems like this can benefit from the elasticity of AWS and the variety of available HPC instances can easily match the characteristics of an algorithm to an optimal hardware for best performance.” In 2019, S-Cube technology had a successful optimisation pilot, stress-testing XWI’s uniquely engineered architecture on AWS at scale in the Central Atlantic margin. The test data was a subset of a 2500km2 seismic survey where the scalability of AWS allowed the solution to be pushed to higher frequencies efficiently with the XWI toolbox, to obtain the highest resolution detail of the subsurface – streamlining the targeted exploration with enhanced pre-drill predictive power. This led to a multi-million-pound award for pilots in the North Sea in 2020, accelerating and automating seismic imaging to the point where XWI’s entire toolbox can be harnessed all the way up the frequency ladder. Starting with the Magnus field, S-Cube’s innovative technology will make use of the vast portfolio of existing North Sea infrastructure and legacy data, reducing the need for physical exploration of new areas and reducing operational carbon footprint. Infrastructure-Led-Exploration (ILX) will pave the way for regional optimisation of thousands of wells simultaneously and for extensive use in CCUS scenarios as part of the net-zero North Sea initiative. Dr Nikhil Shah, CEO at S-Cube comments: “It is an honour to be named as a Finalist at the Lloyds Bank National Business Awards 2020 marking the fast-paced growth of the company. This is also a fantastic opportunity to drive our vision to disrupt the energy sector and drive the net-zero transition for the UKCS. Through this process, we look forward to gaining more insights and wider perspectives into the untapped potential XWI holds for predictive capability across the spectrum of the energy domain and beyond.” “When it comes to business recognition, the Lloyds Bank National Business Awards are the ones to win. They allow any successful organisation to tell their story, from large private and public companies, to thriving entrepreneurial businesses, promising start-ups and established SMEs,” said Sarah Austin, Awards Director. About S-Cube S-Cube is a technology spinout company from Imperial College London, formed in 2015 to fast-track next-generation Full Waveform Inversion (FWI), optimisation and deep-learning for subsurface intelligence. The solution empowers customers to get more out of their data by building complete models of the subsurface using only the raw soundwaves from the earth. It is made available with virtually limitless compute power on AWS with a variety of optimisation cost function parameterisations for clearer and deeper seismic images in exploration, production and carbon storage applications. In 2019 its CEO was awarded Young Entrepreneur of the Year by both the London Asian Business Awards and the TiE Awards. In 2020, S-Cube is the recipient of a multimillion-pound award from The UK Oil and Gas Technology Centre (OGTC) for automating advanced seismic imaging as part of the Net-Zero North Sea initiative and to enable integration of advanced optimisation across the green energy spectrum. For press enquiries please contact vmcrampton@londontowngroup.com Posted by Victoria on 22 Oct 2020 About the author Victoria All posts All posts 2021 2020 2019 2018 2017 2016 London Town Group of Companies Limited 8-14 Talbot Square London W2 1TS United Kingdom Email. info@londontowngroup.com Home News S-Cube Shifts Strategy Towards the Energy Transition London Town Group of Companies 8-14 Talbot Square London W2 1TS United Kingdom Tel. +44 (0) 207 835 2000 Email. info@londontowngroup.com Quick links Team Contact News About linkedin instagram rss © 2021 Privacy Policy Terms and Conditions Sitemap