Halliburton Launches Innovation Lab to Accelerate Clean Energy Development
July 30 2020 - 7:00AM
Business Wire
Entrepreneurs and academics will have access
to Halliburton facilities, technical expertise and business network
to develop, commercialize and scale their technology
Nanotech, Inc. signs agreement to be first
participant
Halliburton Company (NYSE: HAL) today announced the creation of
Halliburton Labs – a collaborative environment where entrepreneurs,
academics, investors, and industrial labs come together to advance
cleaner, affordable energy. Halliburton Labs, led by Executive
Director Scott Gale, 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,” said Jeff
Miller, chairman, president and CEO, Halliburton. “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.”
“We also couldn’t be more pleased to have Nanotech, Inc. as the
first participant of Halliburton Labs,” added Miller. “Nanotech
delivers technology that will change the way we think about energy
conservation and fire safety across many sectors.”
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,” said Mike Francis, chief
executive officer of Nanotech. “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.
For additional information, visit: www.halliburtonlabs.com.
ABOUT HALLIBURTON
Founded in 1919, Halliburton is one of the world's largest
providers of products and services to the energy industry. With
more than 40,000 employees, representing 140 nationalities in more
than 80 countries, the company helps its customers maximize value
throughout the lifecycle of the reservoir – from locating
hydrocarbons and managing geological data, to drilling and
formation evaluation, well construction and completion, and
optimizing production throughout the life of the asset. Visit the
company’s website at www.halliburton.com. Connect with
Halliburton on Facebook,
Twitter, LinkedIn, Instagram and YouTube.
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