Camcon Technology, the inventor and developer of the Camcon Binary Actuator, has received the Amec Award for Innovation and Excellence from the Institute of Chemical Engineers (IChemE). Camcon received the award for the application of the Camcon Binary Actuator in the energy industry with particular emphasis on the oil and gas sector, where it has the potential to revolutionise offshore drilling and hydrocarbon extraction. Independent oil industry studies have shown that one configuration of Camcon technology could increase the yield of remote oil wells by up to 30%. The technology is also applicable in high pressure drill head and Christmas tree applications. The Camcon Binary Actuator is a low-impact valve design that recycles energy using a combination of magnets and springs. It requires energy only to change state of the actuator and will work for years off a small power source, typically a battery, at very high speeds.