The second meeting of the Innovation Council of Ahdaf Investment Group was held with the participation of Novaco executives and Research and Development (R&D) representatives from companies under Oil Industries’ Engineering and Construction (OIEC). The meeting focused on expanding technology-driven activities, strengthening research and development, identifying industrial needs, and leveraging innovative financing mechanisms.
According to Novaco’s Public Relations Department, the meeting was attended by Dr. Amirhossein Zarghami, CEO of Novaco and Vice Chairman of the Council; Eng. Abdollah Ghorbani, Chairman of the Board of Novaco; Eng. Farbod Nazemi, R&D Specialist; Eng. Soroush Afsharpour, Project Management Specialist; Dr. Milad Tahmasbi, Technology Needs Assessment Specialist; and Dr. Majid Siavashi, Technology Needs Assessment Manager. Representatives of companies under Oil Industries’ Engineering and Construction (OIEC), including Oil Exploration Operations Company (OEOC) and Energy Industries Engineering & Design Company (EIED), also attended the meeting.
During the meeting, emphasis was placed on the need to strengthen R&D structures across Ahdaf Group subsidiaries and to direct R&D activities toward addressing real industrial challenges, improving processes, developing the value chain, and defining new investment opportunities. It was also agreed that a structured mechanism would be established to identify and prioritize the companies’ technological needs and, in line with available capacities, move them toward implementation and investment.
Accordingly, Novaco will serve as the executive arm and facilitator of innovation processes within this framework, pursuing initiatives such as technology needs assessment, follow-up of research and development projects, utilization of the capabilities of knowledge-based companies, leveraging R&D tax credits, and implementation of the First-Time Production mechanism
Dr. Amirhossein Zarghami further noted that maximizing the use of existing legal and financial capacities for the development of technology-driven projects was discussed, including R&D and investment tax credits, investment fund capacities, and other financing instruments as mechanisms for channeling financial resources toward projects within the Group.
The meeting also highlighted the use of the “First-Time Production” mechanism and the qualification of eligible companies as knowledge-based enterprises as effective tools for strengthening the competitive capabilities of Group companies in industrial contracts and projects. In addition to facilitating certain contractual processes, these mechanisms can provide a foundation for broader participation by technology-driven and knowledge-based companies in industrial projects.
Dr. Amirhossein Zarghami also emphasized the establishment of an integrated system for identifying and consolidating the technological needs of the Group’s companies. Such a mechanism would prevent the parallel implementation of similar projects and enable companies to jointly leverage technical, engineering, academic, and knowledge-based capabilities.
Under the proposed framework, projects identified through the technology needs assessment process will, following review by the Innovation Council, be financed through different channels according to their scale, technology level, and capital requirements. These channels may include companies’ internal R&D resources, investment funds, or direct investment by Ahdaf Group. In addition, indicators will be defined to evaluate companies’ innovation performance, R&D budgets, project outputs, and the extent to which established objectives are achieved.
One of the projects presented at the meeting was a helium production project. For its implementation, a collaborative model involving technical and engineering capabilities, feedstock and infrastructure provision, as well as the utilization of investment instruments and tax credits, was reviewed.
In another part of the meeting, participants emphasized the need for a shift in the approach to research and development, so that R&D activities are not limited merely to producing reports or conducting theoretical studies, but ultimately lead to solving industrial challenges, improving processes, developing products, generating technical know-how, and creating viable economic activities.
Overall, the Ahdaf Group Innovation Council has been established to create an effective link between the industry’s real needs, technical and knowledge-based capabilities, financing instruments, and the Group’s investment capacity. Its objective is to ensure that technology-driven projects are pursued through an integrated process—from identifying industrial challenges and securing financing to implementation and the achievement of tangible operational outcomes.