Labadvance

History

2023: Attracting investment from the "New Industry"

The venture capital fund "New Industry" became an investor in the project to create a laboratory complex in Russia to predict the effectiveness of the use of methods for increasing oil recovery. The project of the Skolkovo resident LABADVANCE will increase the quality and speed of research, on which the accuracy of investment decisions and the profitability of field development depend. The Skolkovo Foundation announced this on February 3, 2023.

The service of laboratory studies of core and fluids - samples of rock and formation fluid containing oil, gas and water - was created by the Russian company LABADVANCE. The technology patented by the developer allows you to create microfluidic chips - a physical analogue of the core, which reflects in detail the characteristics of deposits. Experiments are conducted with these mini-samples to assess the effectiveness of certain field-specific enhanced recovery techniques. The stage of laboratory research is considered one of the key in the oil and gas industry, since the effectiveness of investment decisions and the profitability of projects depend on the accuracy of its results.

Microfluidic technology will help reduce costs and improve the accuracy of hydraulic fracturing and other intensification technologies. production At the same time, the test period will be reduced by 10 times with a fivefold decrease in their cost. The development will also be in demand for physical and chemical studies of fluid properties. In terms of technical characteristics - speed and accuracy of research - the LABADVANCE solution corresponds to world analogues.

The microfluidic research technology we have developed makes it possible to increase the efficiency of oil recovery enhancement methods and well stimulation operations. Accurate selection of reagents allows not only to increase the profitability of projects, but also to significantly reduce the negative impact on the environment. The idea of ​ ​ the project originated at the Skolkovo Institute of Science and Technology and was supported at an early stage by Skoltech's translational research and innovation program, which allowed our team to move from a scientific idea to creating innovative technology and pilot projects. The support of the Skolkovo Foundation made it possible to create the first prototype of the installation, and participation in the INDUSTRIX technology accelerator made it possible to test the technology in real conditions and clarify the place of the technology in the company's business processes. The investment of the New Industry Fund will allow us to scale the introduction of technology, improve it and develop new products, said Alexey Cheremisin, General Director of LABADVANCE.

New Industry's investments in the project will be aimed at improving the product and expanding production capacities, including increasing the fleet of microfluidic installations. In the future, LABADVANCE plans to create its own capacities for the production of microfluidic chips.