Anne Louise Koefoed, a researcher at BI Norwegian Business School, stressed the need to find alternatives for fossil fuel through low emission and zero emission technologies. However, such processes are time consuming and expensive.
She discussed the initial obstacles faced in bringing out a new clean technology and how pioneer companies are focusing on new technologies without knowing the exact future use of the product, its demand and marketing opportunities.
Anne Louise Koefoed, a researcher at BI Norwegian Business School
Koefoed, in her doctorate study, has chosen Norsk Hydro, an international company, to develop hydrogen as an energy carrier from the middle of 1990 till the merger of Statoil and Hydro in 2008. Through her study, Koefoed is looking forward to improve the understanding for actions that help develop a business plan and strategy for creating new clean energy systems.
She explained how Norsk Hydro choose hydrogen as a new source of clean energy and how the company made the idea more pertinent through regular contact between the environment surrounding the activities and the project participants. She also discussed how the company increased the significance of the project through its participation in specific projects, which offered insight into what other companies are doing and their thoughts about the future. She explained how Hydro used the opportunities to promote the potential use of hydrogen as an energy carrier and finally established a timeframe for development of energy substitutes. .
During the process of her research, Koefoed identified four important mechanisms relating to the new business idea. These include linking existing and new resources and priorities, communicating the idea to make it popular both internally and externally, making the idea official and priority, and challenging primary ideas on the purpose of the organization to ensure smoother progress.