1. Overview
Technologies are evolving rapidly, with continued focus on those
that support the energy transition and shift towards circular
economies. New technologies are increasingly deployed across
projects in multiple sectors, for example, in carbon capture and
utilisation, production of sustainable aviation fuel and other
power-to-x or waste-to-x processes. The selected technology will be
central to determining overall levels of performance and therefore
critical to success.
Incorporating technology into the design and construction of
facilities is not new – for example, this has been a staple
of refinery facilities for many years. However, there are different
challenges where it is nascent or involves 'first of a
kind' (FOAK) elements, whether it is
innovative, newly modified, deployed at a materially increased
scale or otherwise lacking maturity or track record. Whilst the use
of new technology offers investors potential upside and first-mover
advantages,
