Three Companies Join Halliburton Labs Clean Energy Accelerator

Rhea-AI Summary

Halliburton Labs has announced the selection of three companies—AW-Energy, RedShift Energy, and Renkube—for its industrial scaling program focused on clean energy innovations. These companies will benefit from Halliburton’s technical expertise, mentorship, and resources to advance their projects. AW-Energy aims to harness ocean wave energy, RedShift focuses on producing hydrogen from hydrogen sulfide, and Renkube develops innovative glass technology for solar energy. This initiative aligns with Halliburton’s commitment to supporting cleaner, affordable energy solutions.

Positive

• Halliburton Labs selected three companies, indicating strong program interest.
• AW-Energy has commercially certified technology for wave energy conversion.
• RedShift Energy's hydrogen production technology can significantly impact energy transition.
• Renkube's innovative solar glass may lower solar energy costs, enhancing market competitiveness.

Negative

• None.

AW-Energy, RedShift Energy, and Renkube selected for industrial scaling program

HOUSTON--(BUSINESS WIRE)-- Halliburton Labs today announced it selected three new companies to participate in its collaborative environment to advance cleaner, affordable, and reliable energy. As a Halliburton Labs participant, AW-Energy, RedShift Energy, and Renkube will receive access to a broad range of industrial capabilities, technical expertise, and mentorships to scale their respective businesses.

“Halliburton Labs is excited to welcome AW-Energy, RedShift, and Renkube to our clean energy accelerator,” said Dale Winger, managing director of Halliburton Labs. “These new companies reflect our view that numerous innovations at scale are important in the evolution of energy systems. We are intrigued by the learning and possibilities represented by the breadth of market applications and geographies with participants based in Finland, India, and the United States. We are eager to collaborate with these companies to help them achieve their strategic, operational, and financial milestones.”

AW-Energy harnesses the potential of ocean waves with its WaveRoller^® technology. WaveRoller is an oscillating wave surge converter designed to convert kinetic energy from waves into electricity. AW-Energy aims to produce reliable, predictable electricity when it is most needed and can provide the most value. “With the technology already certified and deployed at commercial scale, we are excited to access Halliburton’s global network and engineering expertise to develop our first series of wave farms,” said AW-Energy CEO Christopher Ridgewell.

RedShift Energy uses plasma energy to produce hydrogen from hydrogen sulfide. The company’s modular technology is designed for economic applications across the petroleum value chain including unlocking trapped reserves upstream and recycling hydrogen downstream. “RedShift’s hydrogen technology has the potential to be a key feature in energy transition,” said CEO Howard Nelson. “Joining Halliburton Labs will accelerate commercialization with the help of their broad expertise, supply chain experience, and world-wide network,” added co-founder and Chief Scientist Alex Gutsol.

Renkube developed an innovative glass designed to harvest light that lowers the cost of solar energy generation. The patent-pending glass is used on solar panels to track sunlight like a sunflower but without any movement. "We are excited to be part of the Halliburton Labs accelerator. We intend to leverage Halliburton’s deep industrial expertise in manufacturing and operations as we roll out our product for commercialization," said Balaji Lakshmikanth Bangolae, founder and CEO, Renkube.

Halliburton Labs is now accepting applications for its next group of participants. Applications are accessible via the Halliburton Labs website and are due by August 31, 2022. Please register here to attend the upcoming Finalists Pitch Day on September 28, 2022.

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).

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Source: Halliburton Labs

FAQ

What companies were selected for Halliburton Labs' industrial scaling program?

AW-Energy, RedShift Energy, and Renkube were selected for Halliburton Labs' program.

What technology does AW-Energy utilize?

AW-Energy uses WaveRoller technology to convert ocean wave energy into electricity.

How does RedShift Energy produce hydrogen?

RedShift Energy produces hydrogen using plasma technology from hydrogen sulfide.

What innovation does Renkube bring to solar energy?

Renkube has developed a patent-pending glass that tracks sunlight for solar panels, reducing energy generation costs.

What is the aim of Halliburton Labs?

Halliburton Labs aims to advance cleaner, affordable, and reliable energy through collaboration and support for innovative companies.