Statoil and the Economist Intelligence Unit launched the global competition as a way to stimulate new creative thinking and build awareness of innovative solutions to the world’s energy challenges. Students, graduates, business executives and energy experts were invited to contribute ideas in three categories: ‘Skills for innovation’, ‘Diversifying our energy mix’ or ‘Ensuring access to energy in developing countries’.
The competition itself culminated in a 90-minute live-streamed webinar this morning, where Peter Stewart an analyst at Interfax, who entered the ‘Skills for innovation’ category, was announced as the winner.
The judging panel included renowned experts Mark Kenber, CEO of The Climate Group; Christoph Frei, Secretary General of the World Energy Council; Professor Rita Marcella, Dean of Aberdeen Business School, at Robert Gordon University; Dr. Fatih Birol, Chief Economist, International Energy Agency;and Jose Goldemberg, the former Brazilian Secretary of State for Science and Technology.
Christoph Frei, who was a judge for the Skills for innovation category, commented: “Global energy is at a tipping point. Innovation, entrepreneurship and networks that empower the best examples and help them achieve scale are critical to solving the World’s future energy challenges. As a member of the jury I am pleased to see many innovative ideas fuelling the need for rethinking our energy future.”
Peter Stewart said of his winning entry: “The Central Bank for Innovation would have innovative ideas as its currency – it’s a simple idea, but one that if executed could be a vehicle to breaking down barriers between research communities, harnessing the brightest talents in academia and industry to work with commitment to shared goals.”
Hege Marie Norheim, Senior Vice President of Corporate Sustainability at Statoil, who opened the live webinar at the London Stock Exchange, said: “Statoil is extremely proud of its innovative roots and we are open to finding the seeds of new ideas from all kinds of sources. The competition themes; the energy mix of the future, universal energy access and innovation, are key drivers in our company’s long term strategic thinking. The competition has provided a space where solutions for the future can be discussed and developed and I have been delighted by the calibre of the entries.”
The two runners up were Diogo Freire, a Consultant from the US for Boston Consulting Group for his idea of a decentralised energy model for Africa based on solar photovoltaics, and Qin Xiang Ng, a student at the National University of Singapore, who proposed using spent coffee grounds to produce biofuels.
In recognition of the winning ideas, all finalists have been awarded a trip to Statoil’s 2014 autumn conference, where the IEA’s World Energy Outlook is presented and key global energy issues will be discussed by specialists from across the world. Peter Stewart will also have an advertorial in a digital edition of The Economist about his winning entry.
For more information about the competition please visit www.energyrealitiescompetition.org.