FutureOn took a big risk early on. They went from an idea with a few people and scaled it into a commercially successful solution. Their cloud-based platform, FieldTwin, has established a market leading position within the oil and gas industry, helping companies make smarter and faster decisions throughout the lifecycle of a project. They are now ready to achieve the same results within Offshore Wind.
Adam Duffy, Vice President for Energy Transition at Future On, is one of the speakers at our Tomorrow Show event in Houston. In this article, you will get to know him, FutureOn, and a sneak peek at what Adam will talk about at the event.
Adam Duffy grew up near London and is now based outside Bristol in the UK. He has studied across several cities in the UK and has two master's degrees - the last one focused on petroleum geoscience.
The geoscientist began his career with small operators, transitioned to larger ones, and later focused on strategy. Adam has a long experience working as a consultant, advising how early-phase technology can be shaped and tested and how to build business plans and different business cases. In that role, he was introduced to FutureOn.
The global energy software company FutureOn was a client, and Adam was helping them with a Net Zero Strategy. A while after the project, FutureOn came back “knocking” on Adam’s door – and wanted him on board to lead their efforts for the Energy Transition, a broad opportunity that covers a great deal of areas.
“I look after high-level strategy within commercial, market development, and product, for everything outside of pure oil and gas. Renewables, decarbonization – and how we as a company build our product portfolio, our commercial position, and how we pursue the opportunities there.”
Adam is part of the innovation group in FutureOn, using his experience as a consultant on how to take different ideas and shape them into workable opportunities.
“I am increasingly passionate about innovation, and I've experienced it from both sides. First, from my position in the oil and gas business, where you constantly deal with very high risks and opportunities and try to convince people to invest significant amounts of money. But also from the technology perspective, within offshore wind, an area I have been focusing on in recent years, where we see a lot of parallels in terms of the size of the market, the scale of the market, and the number of different opportunities.”
It's all about working out uncertainty, constraining the risk, seeing opportunities, building business plans, and executing a strategy to get there.
“There's a good chance you will fail, especially in the early phase, but I think it's important to convince people that it's okay to run a few projects in parallel, with limited exposure, even if some of them might not work out. You will gain experience by constraining that uncertainty, and it's all worth it when something works out and matures into something exciting. It's a mindset, and it's a difficult thing for both small and large companies to do.”
“I am passionate about decarbonization, and I believe the future energy landscape is going to be electrified. The challenge is how we respond to that. How do you accelerate that, how do you do it with the least risk? For FutureOn – how do we ensure that we have the solutions that the industry requires and that we are in front of the queue?”
At the Tomorrow show, Adam will present FieldTwin, specifically looking at Offshore Wind.
FieldTwin, FutureOn’s cloud-based platform, has succeeded helping companies make smarter and faster decisions in the oil and gas industry, with customers like Shell and Equinor. Adam will discuss their strategy to accomplish the same results within Offshore Wind.
“Up until six months ago, we were doing a lot of market development and gap analysis. I will present our key learnings, where we see the opportunities for digital, and the solutions we have developed to bridge the gaps. Essentially, we think we have done enough to bridge those gaps to give us what we need to test the hypothesis that FieldTwin can deliver the same value proposition as it does for Oil and gas in this new emergent market – Offshore Wind.”
The British strategist will give participants an insight into FutureOn's strategy going forward and showcase where they are and what they have.
