Whether you're an emerging or an established company, there are no shortcuts. Challenges must be tackled one milestone at a time—from proof of concept to full maturity, including laboratory and commercial scale-up—as illustrated by the technology readiness level (TRL) scale shown here.
To progress with your work, you first need to obtain the necessary grants and permits. In addition to these common requirements, your challenges will vary depending on your company's level of maturity:
- Established companies: you aim to optimize internal processes without sacrificing profitability. With the rise in emerging technologies, you want to remain competitive by improving or retrofitting a fuel control, consumption or production process, or by integrating a new process that brings you closer to your decarbonization goals. This energy transition requires major investments that mustn’t come at the expense of your profitability. To make progress while minimizing the frequency and impact of downtime, you need support from specialized external consultants. Implementing ESG solutions tailored to your projects will help strengthen your strategic positioning while meeting increasing environmental standards.
- Startups: your goal is to reach maturity as quickly as possible. Your revenue comes exclusively from investors, who demand results. You've got your proof of concept, objectives and timetable in hand. To ensure the technology meets defined performance criteria, you need an experienced partner to support your technology development through both experimental (real-world) and digital validation. Incorporating ESG aspects early on in your project can also positively influence your relationships with investors and stakeholders.