In view of the declining potential of its historical Oil & gas business, our client has a bold ambition to shift away from its old business by 2050 to become a leading, integrated sustainable fuels, chemicals and materials company.

In this context, the Low-carbon Business department wanted to evaluate the potential for diversification in the field of Carbon Capture Utilization and Storage (CCUS) and to identify innovative partners with whom to create a complementary business.


We carried out a deep dive study divided into four steps:

  • A technology intelligence study to paint a complete picture of all the megatrends (investment patterns, benchmark, patent analysis, large-scale deployments) and map the technologies and sub-technologies in a design way
  • A startup landscape to identify the innovative players driving CCUS forward worldwide
  • A startup scoring to establish recommendations on the most relevant options for collaboration (R&D agreement, commercial partnership, investment, acquisition, etc.)

Key figures

scouted startups

We sourced 433 startups in Europe, the United States, and Israel in the CCUS market.

rated startups

We used our proprietary scoring methodology to identify the most promising startups from a market point of view (based on a Venture Capital approach) and from the client’s point of view.


Following the collaboration scenarios that were recommended to them, 5 engagements for collaborations were initiated.