Baker Hughes Launches CarbonEdge™, a Digital End-to-End Solution to Mitigate Risk, Optimize Operations and Streamline Reporting for CCUS Projects

Rhea-AI Summary

Baker Hughes (NASDAQ: BKR) has launched CarbonEdge™, a pioneering digital platform for carbon capture, utilization, and storage (CCUS) operations. This end-to-end solution, powered by Cordant™, offers comprehensive support, regulatory reporting, and operational risk management across the entire CCUS value chain. CarbonEdge provides real-time data and alerts on CO2 flows, enabling customers to manage risk, improve decision-making, and enhance operational efficiency.

As part of a long-term agreement, Wabash Valley Resources (WVR) will be a launch customer, using CarbonEdge for measurement, monitoring, and verification of CO2 in their low-carbon ammonia fertilizer production. Baker Hughes and WVR will collaborate on further developing the platform, which is designed to be fast to deploy and easy to scale across various industries.

Positive

• Launch of CarbonEdge™, an innovative end-to-end digital platform for CCUS operations
• Long-term agreement with Wabash Valley Resources as a launch customer
• Expansion of Baker Hughes' digital solutions portfolio for new energies
• Potential for application across multiple industries

Negative

• None.

Insights

Technology Analyst

Baker Hughes' launch of CarbonEdge™ is a significant development in the CCUS industry. This end-to-end digital platform addresses a critical need for comprehensive risk management and regulatory compliance in carbon capture projects. The integration of surface and subsurface data across the entire CCUS value chain is a game-changer, potentially streamlining operations and improving decision-making.

The platform's ability to provide real-time data and alerts on CO2 flows is particularly noteworthy, as it can enhance operational efficiency and safety. By offering a unified dashboard for monitoring and reporting, CarbonEdge could become an essential tool for CCUS project operators, especially as regulatory scrutiny in this sector increases.

However, the success of CarbonEdge will largely depend on its scalability and ease of integration with existing systems. Baker Hughes' collaboration with Wabash Valley Resources for further development is a smart move, allowing for real-world testing and refinement of the platform.

Environmental Policy Expert

The introduction of CarbonEdge™ by Baker Hughes is a pivotal advancement in CCUS technology. This platform could play a important role in accelerating the adoption of CCUS projects, which are essential for meeting global decarbonization goals. By simplifying regulatory reporting and risk management, CarbonEdge addresses two major hurdles in CCUS implementation.

The platform's comprehensive approach, covering the entire CCUS lifecycle, aligns well with the increasing demand for integrated solutions in the fight against climate change. Its potential to enhance the efficiency and reliability of CCUS operations could make these projects more economically viable and attractive to investors.

However, it's important to note that while technological solutions like CarbonEdge are crucial, they must be complemented by supportive policy frameworks to truly drive widespread CCUS adoption. The success of this platform could potentially influence future regulatory standards in the CCUS industry.

Financial Analyst

Baker Hughes' launch of CarbonEdge™ positions the company as a leader in the growing CCUS market. This move could diversify Baker Hughes' revenue streams and potentially offset declines in traditional oil and gas services. The CCUS market is projected to grow significantly and being the only provider offering such a comprehensive solution gives Baker Hughes a competitive edge.

The long-term agreement with Wabash Valley Resources provides an immediate revenue opportunity and a valuable reference case for future sales. However, investors should note that the financial impact may take time to materialize, as CCUS projects often have long development cycles.

While the potential is significant, the success of CarbonEdge will depend on market adoption rates and the pace of CCUS project implementations. Investors should monitor key performance indicators such as customer acquisition, platform utilization and contribution to overall revenue in future earnings reports to gauge the success of this initiative.

• CarbonEdge™ connects subsurface and surface data across carbon capture, utilization and storage (CCUS) infrastructure
• Solution draws on Baker Hughes’ technology, long-standing domain expertise across its diverse portfolio ready to serve entire CCUS value chain
• Wabash Valley Resources will leverage CarbonEdge for measurement, monitoring, and verification of CO₂ and collaborate with Baker Hughes on the solution’s continued development
  

HOUSTON and LONDON, Sept. 12, 2024 (GLOBE NEWSWIRE) -- Baker Hughes (NASDAQ: BKR), an energy technology company, announced Thursday the launch of CarbonEdge™, powered by Cordant™, the first end-to-end, risk-based digital platform for CCUS operations that provides comprehensive support, regulatory reporting, and operational risk management.

With an intuitive, integrated dashboard, CarbonEdge delivers precise, real-time data and alerts on carbon dioxide (CO₂) flows across CCUS infrastructure, from carbon capture and compression to pipeline transportation, as well as subsurface storage. This connectivity across the entire CCUS project lifecycle enables customers to identify and manage risk, improve decision-making, enhance operational efficiency, and simplify regulatory reporting.

Baker Hughes offers a broad portfolio of technologies and expertise to manage and deliver synergy across the entire CCUS value chain. The launch of CarbonEdge makes Baker Hughes the only provider combining advanced risk management and reporting technology for measurement, monitoring and verification (MMV) of CO₂ with comprehensive digital monitoring, engineering expertise and domain knowledge across surface and subsurface planning and operations. Integration with Baker Hughes' subsurface and autonomous modeling solutions delivers storage site characterization workflows and comprehensive MMV frameworks.

“CCUS technology solutions are essential for driving decarbonization of the energy and industrial sectors on our path to solving for climate change,” said Baker Hughes Chairman and CEO Lorenzo Simonelli. “With the launch of CarbonEdge, we not only expand our portfolio of digital solutions to support new energies and empower our customers’ ability to mitigate risk while enhancing operational efficiency, but also take a bold step toward a future with more sustainable energy development. We look forward to working alongside Wabash Valley Resources to refine and evolve CarbonEdge, ensuring it continues to meet the dynamic needs of a rapidly changing industry.”

In July 2024, Wabash Valley Resources (WVR), a pioneer in low-carbon ammonia fertilizer production, and Baker Hughes signed a long-term agreement to supply advanced technology services and solutions to support WVR’s ammonia production with compression systems, injection well construction and perform testing and monitoring services for the geological sequestration of CO₂. As a launch customer, WVR will leverage CarbonEdge to measure, monitor and verify the volumes of CO₂ collected, transported and sequestered underground. The companies will also collaborate closely on the further development of the CarbonEdge platform.

Applicable to any CCUS infrastructure applied across multiple industries, CarbonEdge, powered by Cordant, is expected to be fast to deploy and easy to scale, ensuring seamless connectivity, data synchronization and interoperability across various components of the digital ecosystems of Baker Hughes and its customers.

The first fully integrated digital offering within Baker Hughes’ Climate Technology Solutions portfolio, CarbonEdge joins Baker Hughes’ digital solutions such as JewelSuite, Leucipa™ and Cordant™, which span the energy and industrial value chains to increase efficiency, enhance operational predictability, and help ensure lower emissions.

About Baker Hughes

Baker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.

For more information, please contact:

Media Relations

Chiara Toniato
+39 3463823419
chiara.toniato@bakerhughes.com

Investor Relations

Chase Mulvehill
+1 346-297-2564
investor.relations@bakerhughes.com

FAQ

What is CarbonEdge™ and how does it benefit CCUS projects?

CarbonEdge™ is a digital end-to-end platform launched by Baker Hughes (BKR) for CCUS operations. It provides real-time data and alerts on CO2 flows, enabling risk management, improved decision-making, and enhanced operational efficiency across the entire CCUS value chain.

Who is the launch customer for Baker Hughes' CarbonEdge™ platform?

Wabash Valley Resources (WVR), a pioneer in low-carbon ammonia fertilizer production, is the launch customer for Baker Hughes' CarbonEdge™ platform. WVR will use CarbonEdge for measurement, monitoring, and verification of CO2 in their operations.

How does CarbonEdge™ fit into Baker Hughes' (BKR) product portfolio?

CarbonEdge™ is the first fully integrated digital offering within Baker Hughes' Climate Technology Solutions portfolio. It joins other digital solutions like JewelSuite, Leucipa™, and Cordant™, which span energy and industrial value chains to increase efficiency and lower emissions.

When did Baker Hughes (BKR) announce the launch of CarbonEdge™?

Baker Hughes (BKR) announced the launch of CarbonEdge™ on September 12, 2024, as stated in the press release.