Korall Engineering chosen to partake in Equinor & Techstar’s worldwide Energy Accelerator Program

Korall Engineering, a member of the GCE Ocean Technology cluster, is one of the very few companies selected among hundreds of applicants from all around the world to participate in the prestigious accelerator program, hosted by Equinor and Techstars.

Korall Engineering is a design engineering startup that employs high-end design optimization technologies to redesign industrial products by using artificial intelligence tools, such as Generative Design, in order to reduce material waste and production cost, and simultaneously increase efficiency and lessen the environmental impact.

Additionally, Korall Engineering automates product design workflows, which reduces both engineering hours and lead-times.

The world’s most exciting startups

The Equinor & Techstars accelerator program, in partnership with Capgemini, seeks and supports startups working across the energy transition within the critical areas of energy production, a net-zero future, digital and operational enablers, and disruptors. This year, they have chosen 8 startups, which they perceive as the 8 most exciting startups in the world.

It’s a truly amazing experience, formative in many aspects. It is something extremely valuable to be surrounded by so many people that foster circular economy, sustainability, and best practices, and have a deep understanding of the industry” Bruno Maffei, CEO and Co-founder

The Korall team has high aims for the company’s growth acceleration through this program. By exploring new business opportunities and models and strengthen their relationship with Equinor as a customer and partner, they aim to grow as a company and firmly establish themselves as the missing link in the Additive Manufacturing ecosystem.

Challenged by Equinor

Bruno Maffei, the CEO, explains that Korall’s story with the Equinor and Techstars program started with a challenge.

– Equinor’s Head of the Additive Manufacturing Centre of Excellence, Brede Lærum, reached out to us with a challenge: design a functionable 3D-printable replacement for the steel valve hand-wheels that Equinor is currently using off-shore, which corrode, leak and fail frequently due to metal reaction to the off-shore weather conditions.

Among other companies to get challenged, Korall was the only company to succeed. Through the use of design tools, machine learning, and novel design architectures such as Implicit Modeling Design, Korall managed to create a 3D-printable handwheel fitted to replace the existing valve wheels in the market. Such a new wheel has a longer life cycle, lower operational and storage costs, material use and lead-time, while simultaneously being more environment friendly.

After proving to be the only company in Norway able to manage Equinor’s challenge, Korall Engineering was encouraged to apply for Equinor & Techstars Energy Accelerator Program.

– We are proud to announce that we already have a commercial agreement with Equinor and Total Energies to be a part of Fieldmade’s digital inventory platform, which will launch the 1st of May 2022. The platform will make it easier for companies to transition from having a physical inventory in warehouses, to having a digital inventory online, where the parts can be 3D-printed on-demand. Korall will be the first 3D design company to take part of this platform.

The Cluster Effect

Korall Engineering has been a member of GCE Ocean Technology since 2020.

– We are very proud to be part of the GCE Ocean Technology cluster and it is an honor to represent them here in the program. Ever since we joined them, they have supported us with extensive guidance and expertise, and introduced us to a wide variety of exciting companies and opportunities in the maritime and energy ecosystem, Maffei ends.