The fifth meeting of the Innovation Council of the Ahdaf Investment Company—focused on exploring technology development opportunities, supporting knowledge-based projects, and designing models for financing and technological investment—was held on September 22, 2026 (Shahrivar 31, 1405), at the headquarters of the Petroleum Equipment Industries Company (PEIC). The session was led by Novaco and attended by executives and representatives from both the Future Merit Services Development Company (Novaco) and the Petroleum Equipment Industries Company (PEIC).
According to the Public Relations department of Novaco, this meeting was held as part of the implementation of the "Ahdaf Group" (Ahdaf Holding) innovation and technology ecosystem development programs. The objectives included identifying technological capabilities, expanding research and development (R&D) activities, supporting knowledge-based companies, and exploring financing and investment opportunities for priority projects within the Oil Equipment Industries Company and its subsidiaries.
This meeting was attended by Dr. Amirhossein Zarghami (CEO of Novaco), several managers from Novaco, as well as Dr. Seyed Hadi Goldansaz, Engineer Mostafa Asanloo, and Dr. Faezeh Talebi from the Petroleum Equipment Industries Company (PEIC).
Development of an Integrated Innovation and R&D System within the Ahadaf Group Companies
At the beginning of the meeting, the missions and capabilities of Novaco—serving as the specialized, strategic, and executive arm of the Ahadaf Investment Company in the realms of innovation, technology, research and development, and the knowledge-based economy—were outlined.
In this section, while outlining Novaco’s role in the identification, evaluation, development, financing, and commercialization of technology-based projects, emphasis was placed on the necessity of establishing a coherent mechanism to identify the technological needs of companies and transform operational and industrial challenges into research and development (R&D) projects.
Furthermore, the provisions of the "Adaf Group Innovation Ecosystem Bylaw"—approved by the Board of Directors of Adaf Investment Company—as well as the operational framework for managing innovative projects, were reviewed.
Accordingly, the establishment or strengthening of specialized research and development structures within subsidiaries, the allocation of specific financial resources for innovative activities, and the expansion of inter-company collaboration were identified as key requirements for developing the innovation system within the group.
Furthermore, emphasis was placed on Navaco’s role in facilitating the group companies' access to legal, supportive, and investment-related opportunities, as well as in establishing effective connections between the industry’s technological needs and the capabilities of knowledge-based enterprises and financial institutions.
Examining the Financing and Development of Knowledge-Based Activities
Given the necessity of securing the financial resources required to sustain production activities and develop knowledge-based products, leveraging the capabilities of the Innovation and Prosperity Fund has been proposed as one of the potential financing avenues.
Furthermore, the use of specialized facilities for product development and preparation for industrial-scale production was highlighted—particularly for projects currently in the stages of technology development, prototyping, specialized testing, and pilot production.
Leveraging the R&D Tax Credit
In another part of the meeting, the legal provisions for supporting research and development (R&D) activities—as well as the opportunity to utilize the tax credit stipulated in Article 11 of the Law on Boosting Knowledge-Based Production—were examined.
In this context, emphasis was placed on the necessity of identifying and documenting research and development projects, completing the technical and operational details of these initiatives, and assessing their compliance with the legal requirements for tax credits.
This initiative will be pursued within the framework of Novaco’s program to expand the systematic utilization—by companies within the Hadaf Group—of the support mechanisms and legal provisions available within the knowledge-based economy sector.
Analysis of Investment and Commercialization for the First-Time Manufacturing of Wellhead Processing Equipment
Another key focus of the meeting was exploring collaboration opportunities regarding the first-time manufacturing of wellhead processing equipment. During this session, the project’s technical capabilities and industrial applications were presented, followed by an examination of its economic aspects, target market, investment requirements, and potential models for participation in the development and commercialization of this product.
Given the importance of this project in developing domestic manufacturing capabilities and reducing reliance on technological equipment, the necessity of analyzing the target market and potential customers, estimating costs for design, engineering, manufacturing, and commissioning, determining required capital, analyzing revenue and profitability, and identifying technical requirements and product standards was highlighted as a prerequisite for designing the investment model.
Subsequently, the capabilities of the Ahdaf Group’s subsidiaries—including those active in the development of oil and gas fields—were examined regarding their potential to participate as industrial partners, initial customers, investors, or facilitators of market entry for the product.
Emphasis on Synergizing the Industrial, Technological, and Investment Capabilities of the Ahadf Group
In the concluding remarks of this meeting, the necessity of strengthening collaboration between Novaco and the Oil Equipment Industries—aimed at expanding research and development (R&D) activities, facilitating the financing of technology-driven projects, leveraging legal incentives, and supporting the development of knowledge-based products—was underscored.
Holding Innovation Council meetings within the companies of the Ahdaf Group is part of Navaco’s plan to establish an integrated innovation management system, identify and prioritize technological opportunities, and create effective links between the Group’s industrial, research, and investment capabilities.
This approach is pursued with the objectives of transforming research and development capabilities into actionable projects and commercializable products, enhancing the technological capacity of subsidiary companies, supporting domestic manufacturing, and creating sustainable value-added within the value chain of the oil, gas, and petrochemical industry.