Halliburton Co. unveiled the creation of Halliburton Labs—a collaborative environment where entrepreneurs, academics, investors, and industrial labs come together to advance cleaner, affordable energy—on July 30. Halliburton Labs will accelerate the growth of innovative, early-stage companies by providing access to Halliburton’s lab facilities, technical expertise and business network.
Located at the company’s Houston headquarters, Halliburton Labs adds unique support to the flourishing innovation community and fosters an open environment where participating companies can collaborate to solve current and future clean-energy challenges. Accepted applicants will work with Halliburton Labs advisors to advance their products, secure needed financing and prepare for further scale.
“Halliburton Labs reflects our commitment to the science and continued evolution of sustainable, reliable energy,” Jeff Miller, chairman, president and CEO, Halliburton, said. “We firmly believe that oil and gas will remain an affordable and reliable energy resource for decades to come. At the same time, we recognize the importance of developing alternative energy sources. We are excited to help advance solutions that have the potential for a long term, meaningful impact and that align well with our sustainability objectives.”
Nanotech Inc. is a leading-edge materials science innovator transforming the fireproofing and insulation markets. Its breakthrough technologies significantly reduce global energy consumption, while improving energy efficiency, fireproofing capabilities, and safety.
“We are incredibly excited to have been selected as an anchor for Halliburton Labs and help drive meaningful change and innovation in the energy sector,” Mike Francis, CEO of Nanotech, said. “Access to Halliburton Labs’ resources and world-class facilities will help accelerate our growth and deliver our transformative line of products. Through this collaboration, we intend to fundamentally shift the fireproofing and thermal insulation markets towards more effective and environmentally friendly solutions.”
Nanotech has already moved into Halliburton Labs and their work is underway. Additional companies will join in the coming months as the formal application process goes live in September. Interested companies must have progressed their technology beyond the proof-of-concept phase.
Recommended Reading
Chevron Warns of Ongoing Uncertainties in Venezuela After Elections
2024-08-08 - Chevron, the only U.S. company operating in Venezuela, warned of ongoing uncertainties in the South American after recent presidential elections, and the company has already said it will not invest new capital into the country.
Fitch Warns of Citgo Credit Risks but Affirms Stable Outlook
2024-09-06 - Rating agency Fitch affirmed the default rating of U.S. refiner Citgo Petroleum Corp. at 'B' with a stable outlook, while highlighting operational risks and contagion effects from U.S. sanctions on Citgo's Caracas-based parent PDVSA.
Shell Trinidad Takes FID at Manatee Offshore Gas Field
2024-07-09 - Shell Trinidad and Tobago Ltd. has taken FID on the Manatee cross-border gas field. Manatee will start production in 2027 and at its peak add 104,000 boe/d or 604 MMcf/d of natural gas to Trinidad’s production profile.
Bipartisan Bill Aims to Speed Up Permitting Bureaucracy
2024-07-23 - If passed, the new rules would tackle litigation delays for energy projects across all sectors, an analyst says.
Pitts: Oh, What a Tangled Web the Supermajors Weave
2024-07-23 - Exxon and Chevron and Guyana and Venezuela—‘Let’s Make A Deal’ meets ‘Love, South American Style.’