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Case study
Paving the way for power-to-x solutions
Redefining the power paradigm and navigating the PtX market with Worley
Worley is a global provider of professional project and asset services in the energy, chemicals, and resources sectors.
Challenge
Understanding the right to play in PtX
Leveraging its strong know-how in resources and energy sectors, Worley wanted to explore power-to-X (PtX) as a potential area of expansion. Worley aimed to explore and understand the emerging PtX market but lacked a structured approach to do so. They aimed to gain quality and quantity of information about PtX to develop potential solutions and socialize findings internally.
What is PtX?
Power-to-X (PtX) refers to conversion technologies that turn renewably sourced electricity into carbon-neutral synthetic fuels, such as hydrogen, synthetic natural gas, liquid fuels, or chemicals.
Strategy
Leveraging validated ecosystem insights to pave the way for PtX solution development
We started with scoping and discovery, mapping the PtX ecosystem, establishing initial hypotheses, and identifying numbers. We validated the problem by reaching out to PtX ecosystem members. The findings led to the identification of gaps and key opportunity areas, paving the way for solution development, validation, and business model definition.
Outcome
Setting the stage for PtX solution development
Our approach helped Worley converge on decisions, leading to the identification of gaps and key opportunity areas. The final output provided an overview of ecosystem members, insights, opportunity spaces, and recommended next steps. The findings have been socialized and communicated within the company and shared with senior stakeholders at Worley, setting the stage for further exploration and solution development.
Our approach helped Worley to converge on decisions rather than constantly diverging. This led to the identification of gaps and key opportunity areas, paving the way for solution development, validation, and business model definition
Challenge
Understanding the right to play in PtX
Worley, a global professional services provider, aimed to explore the emerging power-to-X (PtX) market as a potential area of expansion.
However, they lacked a structured approach to gathering and strategizing customer insights, and needed high-quality, comprehensive information about PtX in order to develop potential solutions and socialize findings internally. Worley needed to understand the market, regulatory perspectives and geographies before developing a solution.
The big idea
The modern world depends on chemicals production, steelmaking, and long-haul transport. However, the planet can’t afford the CO2 emissions from these energy-intensive processes
According to the International Energy Agency (IEA), the chemicals, steelmaking and cement industries account for over half of global industrial energy use.
Worley understands that electriciation alone cannot decarbonize every energy-intensive process, and that we need low-carbon energy solutions.
This is where PtX
comes into play
What is power-to-x?
Power-to-X (PtX) refers to conversion technologies that turn low-carbon electricity (from e.g. solar panels, wind turbines, hydroelectric plants) into carbon-neutral synthetic fuels, such as hydrogen, synthetic natural gas, liquid fuels, or chemicals.
Power-to-X could be the solutions that heavy industry, and the planet, has been waiting for.
Strategy
Leveraging validated ecosystem insights to pave the way for PtX solution development
Our strategy was to equip Worley with a meticulously structured approach for their market exploration journey. We started with scoping and discovery, mapping the PtX ecosystem, establishing initial hypotheses, and identifying key metrics that would serve as our guiding stars. We validated the problem by reaching out to PtX ecosystem members and Worley's customers across Europe, North America, and Asia. Their invaluable insights and feedback allowed us to rigorously validate the identified problem areas, ensuring our approach was firmly rooted in real-world challenges.
We analyzed the findings, ideated around problem statements, and prioritized the most important ones, which would serve as the springboard for Worley’s further solution development.
Outcome
Setting the stage for PtX solution development
Our collaboration unveiled critical gaps and untapped market opportunities. These validated, deep insights help Worley steer the way towards solution development, validation, and business model definition. The comprehensive report and guidelines delivered provides an overview of ecosystem members, insights, opportunity spaces, and clearly recommended next steps. With a concise context overview, seven main themes, 48 precise problem statements, and eight fertile opportunity areas for further exploration, the final report is full of actionable insights.
7
Opportunity themes
48
Problem statements
8
Opportunity areas for solutions for PtX identified
Worley is now on full throttle with the project, continually conducting interviews to consolidate and enrich knowledge. Empowered by our project and profound insights, Worley has been able to socialize and communicate their findings within the company.
Crucially, the identified opportunity areas have been agreed upon and shared with senior stakeholders at Worley.
What if you explored emerging markets and technologies outside your traditional scope? How might venturing into new geographies and industries open up untapped opportunities and lead to groundbreaking advancements for your business?
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