The Ingenuity Lab - OpenGoSim
OpenGoSim (OGS), a business founded at the University's start-up incubator, the Ingenuity Lab, has raised over half a million pounds from investment group East Midlands Business Angels to fund further commercialisation of its Carbon Capture CO2 Storage Simulator Software.
The business is led by Paolo Orsini, who completed his PhD in Mechanical Engineering at the University of Nottingham, prior to starting OpenGoSim in 2014. Paolo then joined the Ingenuity Lab, where he met the Business School's Professor Rob Carroll, who joined the company as Chair of its board.
The UK cannot achieve its stated Net Zero emissions target by 2050 without carbon capture and CO2 Storage. OpenGoSim has developed both a proprietary and open source software solution for modelling CO2 storage to help meet this challenge. OGS has recruited a world-class team including Dave Ponting as Senior Software Developer (formerly from Emerson and Schlumberger) to deliver this exciting initiative.
Customers include Equinor, who are a growing force in renewables.
Paolo Orsini said: “Assistance from the Ingenuity Lab has been instrumental in helping us develop a world class software product to help model CO2 storage for large customers such as the major oil companies.”
Controlling Climate Change
Professor Rob Carroll added: “It is tremendously rewarding to have been able to help Paolo Orsini and his team successfully develop a world-class software product and help contribute, in a small but important way, to controlling climate change.”
Tom Yardley MD of EMBA Investors Ltd, who runs the East Midlands Business Angels investor club said “As a group of private investors, we were impressed by the OGS management team technically and commercially. We like to back talented management who are committed to creating shareholder value and are delighted to have now invested over £570,000 in successive investment rounds to help OGS pursue this exciting strategic opportunity.”
We are thrilled to be a part of OpenGoSim’s journey to reduce carbon emissions, and truly champion this company’s alignment with our University and nation’s sustainability goals. Their success so far reflects society’s willingness to move forward responsibly, which is why this latest round of funding is both timely and important.