One of Slovakia’s flagship innovative companies, GA Drilling, received an investment of 4 million euros from InnoEnergy. The investment was preceded by an eight-month-long selection process which resulted in GA Drilling being the only company in Central and Eastern Europe to succeed in the process.
The investment will help accelerate GA Drilling’s commercialization of PLASMABIT – a technology, which has a great potential to cut costs and environmental impact incurred during drilling, plugging and abandonment of oil wells. The company already has international branches in Great Britain, the United Arab Emirates and the United States.
InnoEnergy specializes in technology commercialization and assistance with bringing new technologies to the international market. The network operates primarily in energy, mobility and clean and intelligent technology. InnoEnergy invests up to 100 million euro annually into these areas. Since the beginning of their activities in 2010, InnoEnergy has already invested more than 2 billion euro into innovative projects.
CIVITTA Slovakia acts as a hub for InnoEnergy and scouts for innovative projects with potential within the energy industry through mediums such as Uplift acceleration program or PowerUp competition.