Blue Gentoo, an emerging Aberdeen technology company serving the oil and gas sector, has made a significant investment in its future with the acquisition of the OMMICA business from Edinburgh-based LUX Assure Limited.
LUX Assure, specialists in the monitoring and management of production chemicals, developed OMMICA in their research laboratory and introduced it to the market four years ago. They rapidly achieved customer sales and have steadily increased these year-on-year by providing easy-to-use on-site chemical analysis to replace a time-consuming laboratory-based alternative. The product is patented and is now sold in five continents.
OMMICA enables customers to accurately determine the concentration of mono-ethylene glycol (MEG) and methanol concentrations in produced oil and water, which is important when exporting into pipeline systems and oil tankers. Better process management using OMMICA can add $3 to $4 to the value of each barrel of oil produced. As a result of this purchase Blue Gentoo is creating three jobs in its new OMMICA subsidiary.
Jeanette Forbes, CEO of Blue Gentoo, says, “This purchase is a good strategic fit with Blue Gentoo’s digital gas hydrate management business, which also provides on-site analysis. Blue Gentoo has technology which monitors, detects and manages gas hydrate risk in pipelines using real-time sensors and machine learning. Many of the customers for this technology are also customers of OMMICA, so we now have more innovative tools to satisfy their needs.”
This is an exciting time for Blue Gentoo. Just 2 years since the company was formed on Scottish Enterprise’s inaugural Grey Matters programme, and one year since completing OGTC’s TechX Pioneer technology incubator programme, the company has expanded with a base in both Aberdeen and Edinburgh.
The deal was signed by Jeanette Forbes and Emma Perfect, CEO of LUX Assure, both are business leaders recognised for their strong commitment to encouraging women to take up careers in the STEM-related industries.