20 September 2019
COREteQ Systems Participation in SPE ATCE 2019
COREteQ Systems are attending the SPE ATCE 2019 in Calgary, AB, Canada, to present a paper in collaboration with Joint Industry Project partners.
The paper will be presented on October 1, 2019, in session 34 focused on Electrical EOR. The publication is SPE-195848-MS entitled “Breaking Barriers 350oC Rated Permanent Magnet Motor Design for Electric Submersible Pumps in SAGD wells”. The paper will present the methodology adopted by COREteQ in the design of this barrier braking electrical motor targeted for the most challenging environment.
31 May 2019
COREteQ Systems appoints a Chief Commercial Officer
COREteQ Systems, a company that develops and manufactures high-reliability Electrical Submersible Pump (ESP) motor systems for upstream oil production and geothermal applications, is pleased to announce the appointment of Ian Crossland as a Chief Commercial Officer.
Ian started his oilfield career as a Well Services engineer with Schlumberger and has over 25 years of experience in the oil and gas industry. Ian held various line-management, operational and technical positions across different disciplines on several continents.
Before joining COREteQ, Ian was VP of UK & Africa at RESMAN AS, a Norwegian oil wells surveillance technology company. Prior, Ian was Global Senior Technical Sales Manager at AX-S and prior to that he had 16 years with Schlumberger in both Well Services and Completions segment. Ian brings to COREteQ a strong combination of oil and gas technical and management skills coupled with global experience.
This development is a response to an anticipated increase in international market demand for our products and services. This will ensure COREteQ can deliver top level, commercial and technical support for its customers as the company expands.
COREteQ Systems Ltd
+44 203 405 6680
22 March 2019
COREteQ Systems awarded Innovate UK-funded manufacturing and materials loan
COREteQ Systems, a company that develops and manufactures high-reliability Electrical Submersible Pump (ESP) motor systems for upstream oil production and geothermal applications, has won funding in the highly competitive Innovation Loan Competition run by Innovate UK.
The loan will enable COREteQ Systems to carry out further value engineering in its products, and to streamline its manufacturing to optimise cycle times. The aim is to be able to scale up to meet the high forecast demand for its products and services.
COREteQ Systems will use the funds to apply new materials and manufacturing methods, in order to reduce product costs while maintaining the performance of the equipment required for the demanding pumping applications.
The Manufacturing and Materials Innovation Loan Competition was part of a pilot funding programme from Innovate UK. The organisation offered up to £50 million in attractive loans across five industry sectors for highly innovative SMEs with transformative products.
COREteQ Systems’ CEO, Dr Hassan Mansir, said: “Innovate UK’s pilot loan programme was introduced to help accelerate the growth of some of UK’s most transformative SMEs. We are delighted that our innovative technology and potential impact on oil and gas, and on geothermal energy, has been recognised in such a highly competitive scheme. We are excited to use this investment to improve our cycle time and significantly increase our production rates”
Tim Sawyer, Chief Investment Officer of Innovate UK, commented: “Innovative, ambitious businesses across the UK can see COREteQ’s trailblazing work and the opportunities that Innovation Loans offer and follow in its footsteps. Innovations need different types of funding support depending on how close they are to market. Getting the right funding at the right time can be game-changing for a business, to scale up its productivity and growth. Patient, flexible loans help innovations that are near to market, where there is less risk involved and we are pleased to support COREteQ through this pilot programme.”
About Innovate UK
Innovate UK is part of UK Research and Innovation, a non-departmental public body funded by a grant-in-aid from the UK government. For more information visit www.ukri.org.
Innovate UK drives productivity and economic growth by supporting businesses to develop and realise the potential of new ideas, including those from the UK’s world-class research base.
We connect businesses to the partners, customers and investors that can help them turn ideas into commercially successful products and services and business growth.
We fund business and research collaborations to accelerate innovation and drive business investment into R&D. Our support is available to businesses across all economic sectors, value chains and UK regions. For more information visit www.gov.uk/innovateuk
For more information on Innovation Loans go to
COREteQ Systems Ltd
+44 203 405 6680
Innovate UK Press Office
+44 7766 901150