Four Companies Join Halliburton Labs Clean Energy Accelerator

Rhea-AI Summary

Halliburton Labs has selected four companies—Helix Power, Icarus RT, SolvCor, and Strayos—to participate in its industrial scaling program. This initiative aims to advance cleaner and affordable energy by providing these startups with access to technical expertise, mentorship, and industrial capabilities. Helix Power focuses on flywheel energy storage, Icarus RT develops solar power-enhancing technologies, SolvCor improves cooling systems with patented liquid technology, and Strayos utilizes AI to enhance mining efficiency. This collaboration enhances their potential for commercial success.

Positive

• Halliburton Labs selected four innovative companies, indicating strong demand for clean energy solutions.
• Participants gain access to industrial capabilities and mentorship, enhancing their potential for commercial success.
• Collaboration aims to significantly advance the companies' respective technologies in various markets.

Negative

• None.

Helix Power, Icarus RT, SolvCor, and Strayos become industrial scaling program participants

HOUSTON--(BUSINESS WIRE)-- Halliburton Labs today announced it selected a new group of companies to participate in its collaborative environment where entrepreneurs, academics, and investors come together to advance cleaner, affordable energy. By joining Halliburton Labs, Helix Power, Icarus RT, SolvCor, and Strayos will gain access to industrial capabilities, technical expertise, and mentorship to scale their respective businesses.

“This strong group of companies further establishes Halliburton Labs as the place where innovative companies come together with technical and operational scaling resources to advance commercial success,” said Dale Winger, managing director of Halliburton Labs. “We are excited to collaborate with the founders and their respective teams to support their clean energy solutions.”

Helix Power aims to provide high power, high cycle and short duration energy storage with its patented flywheel energy storage technology. Helix’s technology is designed to support both generation and long duration storage in multiple markets, including the power grid, rapid transit, and large ship-to-shore seaport cranes. “Helix Power’s technology has the potential to be a core asset in the design of clean, efficient and resilient power systems worldwide,” said president and co-founder Matthew Lazarewicz. “We are thrilled to join Halliburton Labs and believe their engineering expertise, supply chain, and global network are a great fit to help achieve the commercial potential of Helix Power’s technology,” added co-founder Kevin Blackman.

Icarus RT is working to develop a power boosting and energy storage technology to improve system performance and return on investment in commercial and utility scale solar photovoltaic systems. Icarus RT’s technology is designed to cool the solar panels, collect rejected heat, and convert the heat into additional power to improve system efficiency and output. “New materials, new design and manufacturing techniques and a passionate, brilliant engineering team enabled us to achieve commercial readiness for the Icarus Quartet hybrid PV/T system. The Halliburton Labs scale up program is an important step forward to de-risk commercialization and enhance fund raising options,” said Mark Anderson, Founder and CEO, Icarus RT.

SolvCor developed a patented technology platform to significantly improve heat transfer versus water for use in a wide range of industrial applications such as cooling systems and thermal storage. Adding SolvCor liquids to a chilled water-cooling system is designed to notably increase cooling capacity, improve energy efficiency, and reduce CO2 emissions. Anticipated applications of SolvCor’s technology include commercial buildings, district cooling, industrial process cooling, and data centers. “Together with Halliburton's industrial capabilities, we are excited to accelerate the widespread deployment of SolvCor solutions to reduce global energy consumption and greenhouse gas emissions,” said Ethan Novek, CEO of SolvCor Technologies.

Strayos helps mining and cement companies more efficiently extract raw minerals by adding artificial intelligence (AI) powered tools to certain essential steps of the mining value chain. Strayos applies visual sensing technology and AI software to model subsurface geology and enable optimal extraction plans, thereby increasing yields to reduce waste and carbon emissions. “The strategic collaboration with Halliburton Labs will allow us to expand the capabilities of our technology, and its global presence and industry leadership will help us scale our technology around the world and drive the future of more sustainable mining,” said Ravi Sahu, Strayos, CEO.

ABOUT HALLIBURTON LABS

Halliburton Labs is a collaborative environment where entrepreneurs, academics, investors, and industrial labs join to advance cleaner, affordable energy. Located at Halliburton Company’s headquarters in Houston, Texas, Halliburton Labs provides access to world-class facilities, operational expertise, practical mentorship, and financing opportunities in a single location to help participants scale their business. Visit the company’s website at www.halliburtonlabs.com. Connect with Halliburton Labs on Twitter, LinkedIn and Instagram. Halliburton Labs is a wholly owned subsidiary of Halliburton Company (NYSE: HAL).

View source version on businesswire.com: https://www.businesswire.com/news/home/20211117005187/en/

For Investors:

David Coleman

Investor Relations

investors@halliburton.com

281-871-2688

For News Media:

William Fitzgerald

External Affairs

pr@halliburton.com

281-871-5267

Source: Halliburton Labs