Developing essential offshore subsurface assets to deliver the Energy Transition
Originating & building a risk-managed portfolio of
high-value offshore subsurface assets
There is growing global momentum in the transition from fossil fuels to renewable energy. Achieving the Energy Transition will require fit for purpose energy infrastructure and the development and adoption of innovative new technologies and solutions.
Renewable energy systems have a fundamental lack of resilience. A lack of energy storage to handle associated intermittency limits the ability to economically add capacity and thus holds back the Energy Transition. There is a need for sustainable energy system resilience - today and tomorrow.
dCarbonX is an asset-focused GeoEnergy company established to solve these global problems through baseload subsurface solutions.
dCarbonX is a pioneering GeoEnergy company established to develop subsurface assets that facilitate the Energy Transition.
Based in London & Dublin, dCarbonX is using its proprietary knowledge base to originate and build a portfolio of high-value Energy Transition assets offshore Ireland & the UK with a focus on energy storage (natural gas & hydrogen) and carbon capture & sequestration (CCS).
In November 2021, dCarbonX established a strategic energy transition alliance with Snam who became our main corporate shareholder.
Award of Bains Gas Storage Licence
In April 2023 the UK’s North Sea Transition Authority offered a gas storage licence to dCarbonX for the depleted Bains gas field, in the East Irish Sea.
Subject to further regulatory approvals, dCarbonX proposes to develop Bains for gas storage and estimates a storage capacity equivalent to three to four days' supply for the UK, providing a boost to the UK’s energy security.
dCarbonX will also evaluate the licence for the potential future storage of hydrogen.
dCarbonX ‘ARC’ - subsurface solutions for decarbonisation
dCarbonX deploys advanced technologies in an innovative GeoEnergy Decarbonisation process using its proprietary Carbon ARC (Avoid – Reduce – Capture) methodology
Avoid - via enabling low carbon gases
Reduce - via strategic & scalable integrated energy storage
Capture - via permanent subsurface disposal of CO2
dCarbonX aims to bring low-carbon "security of supply" and system resilience to Ireland & the UK via its first-mover position utilising offshore GeoEnergy solutions
The UK and Ireland have an acute need for low-carbon GeoEnergy solutions, particularly for subsurface energy storage of hydrogen / hydrogen carriers to complement the drive for increased penetration of renewables and to ensure the security of energy supply
Specific subsurface sites offshore Ireland & the UK identified for large-scale hydrogen storage & “security of sequestration” for local small & mid-scale CO2 emitters
Clean, Green & Unseen
Ireland & the UK are committed to the Energy Transition and are therefore ideal investment environments
dCarbonX directors have unmatched proprietary operational experience in offshore Ireland / UK
dCarbonX has leading subsurface, technical, drilling and business strategic partners in place including Elemental Energies (well management), Fugro (environmental / surveys), Stena Drilling (drilling), CGG (reservoirs), Lambert Energy Advisory (corporate) & KPMG (audit).
Customer-facing partnerships & relationships key to securing premium projects
Partner needs are solved through scientific, industrial & business collaboration. In addition to the Strategic Alliance with Snam recent Partnerships / Projects include:
Offshore large-scale subsurface energy storage with the ESB in Ireland
Carbon Capture & Sequestration in collaboration with Pentair in Ireland & the UK
Enabling the Energy Transition together
Agile, pioneering, subsurface focus
Backed by Snam’s significant operational/technical capabilities
Efficient low-cost operator and technical partner of choice to deliver economies of scale and Affordable Energy for communities and industry
Access to Energy Transition capital – to share risks & rewards
Entrepreneurial - adaptive to multiple value realisation paths
Our uniquely experienced Board
Dr John O'Sullivan (left)
Tony O'Reilly (centre)
Dr Angus McCoss (right)
Piero Ercoli (Snam S.p.A.)
Davide Maria Turi (Snam S.p.A.)
Raffaele Cozza D’Onofrio (Snam S.p.A.)
Dr. John O’Sullivan (left) is COO and a Founder of dCarbonX. John holds three degrees in Geology and Geophysics as well as a Masters Degree in Technology Management. John is also professionally chartered by the Geological Society of London and a member of the International Geothermal Association. He has more than 30 years of experience in the energy arena having previously worked with Mobil, Marathon, Marine Institute and Providence Resources plc where he served as the Technical Director from 2010-2019. He has worked across both the hydrocarbon and renewable sectors in oil/gas, offshore wind/wave, geothermal, gas storage and carbon capture/sequestration. John has chaired and participated in a number of Irish government-funded SME/start-up RTDI high technology enterprise investment programmes and was Ireland's national offshore renewable energy representative at the International Energy Agency.
Tony O’Reilly (centre) is CEO and a Founder of dCarbonX. A graduate of Brown University, Tony has 30 years C-suite experience ranging from large, multi-site international businesses to start-ups in industries ranging from oil and gas exploration to mining, to consumer media and luxury goods, to environmental technology and financial services. As founder and CEO of Providence Resources Plc, Tony led the Company into major commercial transactions with leading energy players including ExxonMobil, Eni, Petronas, Total, Chevron and Chrysaor. Prior to Providence, Tony was the CEO of Wedgwood and prior to that was Chairman and CEO of ARCON. Tony was also co-founder of two start-ups, Zenergy and Lockwood, which were respectively involved in high temperature superconductivity (HTS) technology and funds management.
Dr. Angus McCoss (right) is CTO and a Founder of dCarbonX. He has two degrees in Earth Sciences, including a BP sponsored PhD from Queen’s University Belfast. Angus pursued a 20-year international career in Shell, gaining considerable oil & gas business experience in Europe, China, the Middle East, North and South America, and Africa. Roles at Shell ranged from R&D leader, to business developer and regional vice president of exploration. He joined the board of Tullow Oil plc in 2006 as Exploration Director where he led an industry-acclaimed team that innovatively discovered several new oil basins in Africa and South America. Angus also served as a non-executive director of the privately funded technology trailblazer Ikon Science Ltd and was senior independent director at Providence Resources Plc. He has a role on the advisory board of the Energy Geoscience Institute, University of Utah, and has recently founded the Sustainable Earth Scientist international collaboration platform for students to constructively explore solutions for the Energy Transition and Climate Change.
Piero Ercoli is a Director of dCarbonX. Piero is SVP Decarbonization at Snam and his unit coordinates the company's operations in hydrogen as well as carbon capture and storage. With a University Degree in Economics, Management and Engineering at the Milan Polytechnic, he started his professional career in 2004 as a business analyst at Busacca & Associati, a strategic advisory firm. Before Snam, he worked for 16 years at the Eni Group where he held roles of increasing seniority. From 2005 to 2009 he covered different positions within the gas supply unit at Eni Gas & Power where, among other things, he managed the strategy to access the US. From 2010 to 2011 he worked at the Eni CEO Office and later supported Eni Trading & Shipping activities based in London as Head Power & Carbon Trading and then Vice President Biofuel Trading. In 2016 he returned to Milan where, until 2020, he was Senior Vice President Market Analytics, Strategy and Market Design of Eni Gas Power & LNG Marketing. From 2020 to 2021 he was Head of LNG Portfolio Management within the Natural Resources at Eni.
Davide Maria Turi is a Director of dCarbonX. Davide has deep and broad experience in international business development, decarbonization and energy markets. With a Degree in Energy Engineering and a PhD in Energy and Nuclear Science and Technology (STEN) he has worked on advanced solutions for CCS and decarbonization. He started his professional career as a Senior Consultant at Oliver Wyman and before joining Snam, he worked at Bain & Company in several projects for major international Energy companies. In Snam Davide worked in the CEO Office, leading projects on decarbonization. He was subsequently in charge of the world-wide development of the Small-Scale LNG and Bio LNG value chain business (focused on Europe and emerging countries). Since 2022 at Snam, Davide is Head of Business Development for CCS and Decarbonization in UK and North Sea.
Raffaele Cozza D’Onofrio is a Director of dCarbonX. With a University Degree in Economics and a master’s degree in Banking Finance and Financial Markets, Raffaele is a Certified Chartered Accountant and Qualified Auditor. He started his professional career in 2001 as a Tax & Financial Advisor at an advisory firm in Rome. From 2003 to 2012, he worked for a leading Italian company active in the production and marketing of electricity and natural gas where he held roles with increasing responsibility in the finance sector (Head of Financing). From 2012 to 2018 he was Treasury Front Office and Financial Planning Manager at Snam SpA. In 2018 Raffaele was appointed Managing Director of Snam International B.V. (The Netherlands).
Contact us: email@example.com
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