Biopolynet Wins Statoil, GE Award
Fredericton’s BioPolynet, whose nanotechnology helps to bind or stabilize solids, has won a technology competition with a prize worth as much as US$400,000 from Statoil and GE Oil & Gas.
Last week, the Norwegian state oil company and the oil and gas unit of the conglomerate General Electric Co. announced BioPolynet was one of five winners of the Open Innovation Challenge.
The competition asked entrants — and there were about 100 from more than 30 countries — to submit technologies that can improve the use of sand in the hydraulic fracturing process. Each of the five winners received