Ted Wilke is the Vice President at SPOC Automation, which works to innovate manufacturing efficiencies and automation solutions using inverter technology and measurements in automation. He has nearly 30 years of experience in the electrical industry and focuses on developing and implementing automation technologies in manufacturing, infrastructure, energy and the oil and gas industries.
Andrew Williams is the Managing Director at SPOC Grid Inverter Technologies, focusing on hybridization solutions as well as helping people optimize their generator application. He has 30 years of experience in the switch gear and power control industry.
Host John Sheff is joined by guests Ted Wilke and Andrew Williams, of SPOC Automation and SPOC Grid Inverter Technologies, respectively, to discuss the impact of ESG (Environmental, Social and Governance) reporting on efficient industrial operations. The conversation covers the push toward energy efficiency in the oil and gas industry and the technologies that can help companies achieve their ESG objectives.
- ESG is a set of standards for a company’s operations: environmental criteria consider how a company performs as a steward of nature; social criteria examine how it manages relationships with employees, suppliers and customers; and the communities and governance criteria deal with leadership issues, such as executive pay audit controls.
- ESG is becoming an increasingly important part of large businesses and how they operate and are asked to report.
- Institutional investors are using ESG goals and results to make decisions on where to invest their capital. If an organization doesn’t have a story about how they’re treating their people, minimizing the impact of their operations to the environment and working to make sure they obey the laws and safeguard investor interest, they will be starved of capital.
- Using electrical power and power from renewable and sustainable sources allows businesses to reduce their carbon emissions and improve their environmental impact.
- The marine industry has begun using variable frequency generation to reduce the energy and emissions from their diesel generators; they have seen a fuel savings up to 30%.
- The oil and gas industry primarily uses diesel and natural gas to power their drilling and pumping operations and are working to reduce their emissions to meet their ESG obligations.
- Nearly all oil and gas companies in the U.S. have published ESG objectives and are trying to find ways to operate more efficiently.
- Oil and gas companies are interested in electrification, for both cost and ESG reasons.
- Hybridization for onsite power generation is a feasible and attractive option for the industry. Generators can operate more efficiently and save energy costs.
- Energy storage systems, with power delivered out through a grid inverter, can be used to increase efficiency and lower fuel usage. They also provide a backup power source.
- Inverters regulate and can reduce the amount of incident energy delivered downstream, which makes the work environment safer.
- Hybrid technology with grid inverters allows oil and gas companies to save energy and lower fuel usage and emissions without needing to retrofit their diesel and gas power systems.
- Incorporating energy savings into ESG objectives ultimately gives companies better access to capital.
- ESG reporting will become more standardized over the next 10 years. Investors and communities will know more about what companies are doing and that will drive technological change.
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For more information and additional episodes of the EnVisioneering Exchange podcast, visit https://www.danfoss.com/en-us/about-danfoss/insights-for-tomorrow/envisioneering-exchange/