Airborne Oil & Gas, a composite pipe manufacturer, has secured an investment from Chevron Technology Ventures, the technology investment arm of Chevron Corp.
The Dutch manufacturer has developed a range of composite pipe products that offer unique benefits for offshore oil and gas operations. The pipes are non-metallic, which eliminates corrosion. The spoolable composite pipes can be installed with simpler vessels than traditional steel-based pipes. The lightweight composite pipes also offer savings when they are used as risers for deepwater production.
With this investment, Chevron Technology Ventures joins Shell and Evonik as corporate investors in Airborne Oil & Gas. The company is planning an expansion of its manufacturing facility near Amsterdam in The Netherlands.