Nabors Industries Issues Statement on Planned Business Combination Between Nabors Energy Transition Corp II and e2Companies
Nabors Industries (NYSE: NBR) has issued a statement regarding the business combination agreement between Nabors Energy Transition Corp. II (NASDAQ: NETD) and e2Companies . e2 operates as an AI-based Virtual Utility®, offering comprehensive power solutions including isolated grid power, continuous power conditioning, and multi-source local power management.
The company's solutions feature behind-the-meter functionality without requiring grid connection agreements, targeting mission-critical industries like data centers, manufacturing, oil and gas, and healthcare. Key capabilities include instantaneous load shifting, AI-based cost optimization, and on-demand grid power supply.
Nabors began collaborating with e2 last year to implement integrated power solutions in drilling operations. The business combination aims to strengthen this collaboration, focusing on oilfield electrification and expanding into new markets, leveraging Nabors' global expertise, industry relationships, and technology infrastructure.
Nabors Industries (NYSE: NBR) ha emesso una dichiarazione riguardo l'accordo di combinazione aziendale tra Nabors Energy Transition Corp. II (NASDAQ: NETD) e e2Companies. e2 opera come una Utility Virtuale® basata su AI, offrendo soluzioni energetiche complete che includono potenza da rete isolata, condizionamento della potenza continuo e gestione della potenza locale multi-sorgente.
Le soluzioni dell'azienda presentano funzionalità dietro il contatore senza richiedere accordi di connessione alla rete, mirando a settori critici come i data center, la manifattura, il petrolio e il gas, e la sanità. Le principali capacità comprendono lo spostamento istantaneo del carico, l'ottimizzazione dei costi basata su AI e la fornitura di potenza dalla rete su richiesta.
Nabors ha iniziato a collaborare con e2 lo scorso anno per implementare soluzioni energetiche integrate nelle operazioni di perforazione. La combinazione aziendale mira a rafforzare questa collaborazione, concentrandosi sull'elettrificazione dei campi petroliferi ed espandendosi in nuovi mercati, sfruttando l'esperienza globale di Nabors, le relazioni nel settore e l'infrastruttura tecnologica.
Nabors Industries (NYSE: NBR) ha emitido un comunicado sobre el acuerdo de combinación empresarial entre Nabors Energy Transition Corp. II (NASDAQ: NETD) y e2Companies. e2 opera como una Utility Virtual® basada en IA, ofreciendo soluciones energéticas integrales que incluyen energía de red aislada, acondicionamiento de energía continuo y gestión de energía local de múltiples fuentes.
Las soluciones de la empresa cuentan con funcionalidad detrás del medidor sin requerir acuerdos de conexión a la red, dirigiéndose a industrias críticas como centros de datos, manufactura, petróleo y gas, y atención médica. Las capacidades clave incluyen el cambio instantáneo de carga, la optimización de costos basada en IA y el suministro de energía de red bajo demanda.
Nabors comenzó a colaborar con e2 el año pasado para implementar soluciones energéticas integradas en las operaciones de perforación. La combinación empresarial tiene como objetivo fortalecer esta colaboración, enfocándose en la electrificación de campos petroleros y expandiéndose a nuevos mercados, aprovechando la experiencia global de Nabors, las relaciones en la industria y la infraestructura tecnológica.
나보르스 인더스트리 (NYSE: NBR)는 나보르스 에너지 전환 법인 II (NASDAQ: NETD)와 e2Companies 간의 사업 결합 계약에 대한 성명을 발표했습니다. e2는 AI 기반의 가상 유틸리티®로 운영되며, 격리된 전력망, 지속적인 전력 조정 및 다원 전력 관리 등 포괄적인 전력 솔루션을 제공합니다.
회사의 솔루션은 전력망 연결 계약 없이 미터 뒤에서 기능할 수 있으며, 데이터 센터, 제조업, 석유 및 가스, 의료와 같은 중요 산업을 목표로 하고 있습니다. 주요 기능으로는 즉각적인 부하 전환, AI 기반의 비용 최적화 및 주문형 전력망 공급이 포함됩니다.
나보르스는 지난해 e2와 협력하여 시추 작업에 통합 전력 솔루션을 구현하기 시작했습니다. 사업 결합은 이 협력을 강화하고 석유 필드 전력화 및 새로운 시장으로의 확장을 목표로 하며, 나보르스의 글로벌 전문성, 산업 관계 및 기술 인프라를 활용합니다.
Nabors Industries (NYSE: NBR) a publié une déclaration concernant l'accord de combinaison d'affaires entre Nabors Energy Transition Corp. II (NASDAQ: NETD) et e2Companies. e2 fonctionne comme une utilité virtuelle® basée sur l'IA, offrant des solutions énergétiques complètes, y compris l'alimentation de réseau isolée, le conditionnement d'énergie continu et la gestion de l'énergie locale multi-sources.
Les solutions de l'entreprise présentent des fonctionnalités derrière le compteur sans nécessiter d'accords de connexion au réseau, ciblant des secteurs critiques tels que les centres de données, la fabrication, le pétrole et le gaz, et les soins de santé. Les principales capacités incluent le déplacement instantané de charge, l'optimisation des coûts basée sur l'IA et l'approvisionnement en énergie du réseau à la demande.
Nabors a commencé à collaborer avec e2 l'année dernière pour mettre en œuvre des solutions énergétiques intégrées dans les opérations de forage. La combinaison d'affaires vise à renforcer cette collaboration, en se concentrant sur l'électrification des champs pétrolifères et en s'étendant à de nouveaux marchés, en tirant parti de l'expertise mondiale de Nabors, des relations industrielles et de l'infrastructure technologique.
Nabors Industries (NYSE: NBR) hat eine Erklärung zum Unternehmenszusammenschlussvertrag zwischen Nabors Energy Transition Corp. II (NASDAQ: NETD) und e2Companies veröffentlicht. e2 operiert als KI-basierte Virtuelle Versorgungsunternehmen®, das umfassende Energielösungen anbietet, darunter isolierte Netzstromversorgung, kontinuierliche Energieaufbereitung und lokale Energiemanagement von mehreren Quellen.
Die Lösungen des Unternehmens bieten Funktionen hinter dem Zähler, ohne dass Netzanschlussverträge erforderlich sind, und richten sich an kritische Industrien wie Rechenzentren, Fertigung, Öl und Gas sowie Gesundheitswesen. Zu den wichtigsten Funktionen gehören sofortige Lastverschiebung, KI-basierte Kostenoptimierung und bedarfsgerechte Netzstromversorgung.
Nabors begann letztes Jahr mit e2 zusammenzuarbeiten, um integrierte Energielösungen in den Bohrbetrieben zu implementieren. Der Unternehmenszusammenschluss zielt darauf ab, diese Zusammenarbeit zu stärken, sich auf die Elektrifizierung von Ölfeldern zu konzentrieren und in neue Märkte zu expandieren, indem die globale Expertise, die Branchenbeziehungen und die technologische Infrastruktur von Nabors genutzt werden.
- Strategic expansion into AI-based power solutions market
- Existing collaboration provides proven implementation pathway
- Access to high-growth markets (data centers, healthcare, manufacturing)
- Technology enables operation without grid connection requirements
- Potential for cost savings and emissions reduction in operations
- Integration risks associated with business combination
- Significant capital investment likely required for market expansion
- Competitive pressure in rapidly evolving power solutions market
Insights
This business combination between Nabors Energy Transition Corp II and e2Companies represents a strategic pivot that could significantly impact Nabors' market positioning and future revenue streams. The deal's timing is particularly noteworthy, coinciding with three major market trends: the surge in power demand from AI data centers, growing grid stability concerns, and increasing focus on energy transition solutions.
e2's Virtual Utility® technology offers a compelling value proposition through its behind-the-meter solution, which bypasses traditional utility interconnection requirements - a significant competitive advantage in the power management market. This feature dramatically reduces deployment time and regulatory hurdles, particularly important for data centers and manufacturing facilities where power reliability is mission-critical.
The strategic value for Nabors extends beyond mere diversification. By integrating e2's technology into drilling operations, Nabors can potentially reduce operational costs and emissions while creating a new revenue stream through power optimization. The company's existing global infrastructure and industry relationships could accelerate e2's market penetration, particularly in regions with unstable grid systems or high energy costs.
The collaboration's focus on oilfield electrification is especially strategic, as it addresses two critical industry challenges: reducing emissions and improving operational efficiency. By leveraging AI-driven power management, drilling operations could potentially achieve significant cost savings through optimized power consumption and reduced diesel dependency.
However, the success of this venture will largely depend on execution, particularly in scaling e2's technology across different markets and applications. The lack of specific financial details about the transaction structure and valuation metrics makes it challenging to fully assess the immediate impact on Nabors' financial position.
As a pioneer of an AI-based Virtual Utility ®, e2 delivers a unique offering in the power market. Unlike conventional power solutions supplying backup power, e2 provides a full solution including:
- Isolated grid power
- The ability to run prime power or in sync with public utility with continuous power conditioning and uninterruptable supply
- Instantaneous load shifting between the grid and multi-source local power (diesel, gas, solar, wind, geothermal, hydrogen or nuclear)
- AI-based cost optimization regulating power draws from the grid at peak pricing times
- And the ability to supply the grid with power on demand, offering further cost optimization
This potent combination of solutions supplies a transformative approach to grid stability and sustainability.
Most importantly, e2's solutions can function behind-the-meter without requiring a grid connection interconnect agreement. This feature enables mission-critical industries – such as data centers, manufacturing, oil and gas, and healthcare – to benefit from reliable, on-site power generation and storage. Whether used as primary power or in sync with public utility, these solutions deliver significant cost savings and emissions reductions.
Nabors Chairman, President and CEO Anthony G. Petrello commented, "We believe the e2 solution has clear, value-creating application in the oilfield sector. We will be working together to drive market penetration of e2's portfolio.
"Moreover, given the widely acknowledged and increasing challenges to the global electrical grid and surging power demand – driven in part by data centers supporting artificial intelligence and the rapid rise of electrification – we believe e2 is uniquely positioned to capitalize on these market tailwinds.
"Recognizing the need for greater grid reliability and energy autonomy among our customers, Nabors began collaborating with e2 last year to introduce its integrated power solutions into our drilling operations, both domestically and internationally. This transaction will significantly strengthen our collaboration and establish a foundation for pursuing more ambitious goals, including comprehensive oilfield electrification. Working together, and with Nabors' global expertise, industry relationships, supply chains and technology, both Nabors and e2 are well-positioned for accelerated growth in new and existing markets.
"We look forward to supporting e2 as it advances its mission and technology while furthering our commitment to delivering energy without compromise."
For additional information about the business combination and Nabors' previously announced strategic collaboration with e2, please visit the e2 investor page.
About Nabors Industries
Nabors is a leading provider of advanced technology for the energy industry. With presence in more than 20 countries, Nabors has established a global network of people, technology and equipment to deploy solutions that deliver safe, efficient and responsible energy production. By leveraging its core competencies, particularly in drilling, engineering, automation, data science and manufacturing, Nabors aims to innovate the future of energy and enable the transition to a lower-carbon world. Learn more about Nabors and its energy technology leadership: www.nabors.com.
About e2Companies
e2Companies is the first vertically integrated Virtual Utility® for power generation, distribution, and energy economics in the marketplace. e2Companies' patented technology, the R3Di® System, provides automated grid stability for continuous on-site power and seamless resiliency, independent of grid conditions. The R3Di® System is continuously monitored by the Grove365® to optimize resources, track ESG targets, and unlock new revenue opportunities for customers. This automated platform is self-sustaining and designed to adapt to future grid advancements including renewables, hydrogen, geothermal, biofuel, and autonomous grid operations.
To learn more about e2Companies, visit www.e2companies.com.
About Nabors Energy Transition Corp. II
Nabors Energy Transition Corp. II is a blank check company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities. The Company intends to identify solutions, opportunities, companies or technologies that focus on advancing the energy transition; specifically, ones that facilitate, improve or complement the reduction of carbon or greenhouse gas emissions while satisfying growing energy consumption across markets globally.
Important Information for Shareholders
This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or constitute a solicitation of any vote or approval.
In connection with the entry into a business combination agreement between NETD and e2 (the "Transaction" or the "Business Combination") NETD and e2 will file with the Securities and Exchange Commission (the "SEC") registration statement on Form S-4 (the "Registration Statement"), which will include (i) a preliminary prospectus of NETD relating to the offer of securities to be issued in connection with the Business Combination, (ii) a preliminary proxy statement of NETD to be distributed to holders of NETD's capital shares in connection with NETD's solicitation of proxies for vote by NETD's shareholders with respect to the Business Combination and other matters described in the Registration Statement and (iii) a consent solicitation statement of e2 to be distributed to unitholders of e2 in connection with e2's solicitation for votes to approve the Business Combination. NETD and e2 also plan to file other documents with the SEC regarding the Business Combination. After the Registration Statement has been declared effective by the SEC, a definitive proxy statement/prospectus/consent solicitation statement will be mailed to the shareholders of NETD and unitholders of e2. INVESTORS AND SECURITY HOLDERS OF NETD AND E2 ARE URGED TO READ THE REGISTRATION STATEMENT, THE PROXY STATEMENT/PROSPECTUS/CONSENT SOLICITATION STATEMENT CONTAINED THEREIN (INCLUDING ALL AMENDMENTS AND SUPPLEMENTS THERETO) AND ALL OTHER DOCUMENTS RELATING TO THE BUSINESS COMBINATION THAT WILL BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE BUSINESS COMBINATION.
Investors and security holders will be able to obtain free copies of the proxy statement/prospectus/consent solicitation statement and other documents containing important information about NETD and e2 once such documents are filed with the SEC, through the website maintained by the SEC at http://www.sec.gov. In addition, the documents filed by NETD may be obtained free of charge from NETD's website at www.nabors-etcorp.com or by written request to NETD at 515 West Greens Road, Suite 1200,
Participants in the Solicitation
NETD, Nabors, e2 and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from the shareholders of NETD in connection with the Business Combination. Information about the directors and executive officers of NETD is set forth in NETD's Annual Report on Form 10-K for the year ended December 31, 2023, filed with the SEC on March 27, 2024. To the extent that holdings of NETD's securities have changed since the amounts printed in NETD's Annual Report on Form 10-K for the year ended December 31, 2023, such changes have been or will be reflected on Statements of Change in Ownership on Form 4 filed with the SEC. Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the proxy statement/prospectus/consent solicitation statement and other relevant materials to be filed with the SEC when they become available. You may obtain free copies of these documents as described in the preceding paragraph.
Forward Looking Statements
The information included herein and in any oral statements made in connection herewith include "forward-looking statements". All statements, other than statements of present or historical fact included herein, regarding the Business Combination, NETD's and e2's ability to consummate the Transaction, the benefits of the Transaction and NETD's and e2's future financial performance following the Transaction, as well as NETD's and e2's strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. When used herein, including any oral statements made in connection herewith, the words "could," "should," "will," "may," "believe," "anticipate," "intend," "estimate," "expect," "project," the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on Nabors, NETD and e2 management's current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Nabors, NETD and e2 disclaim any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date hereof. Nabors, NETD and e2 caution you that these forward-looking statements are subject to risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Nabors, NETD and e2. These risks include, but are not limited to, general economic, financial, legal, political and business conditions and changes in domestic and foreign markets; the inability of the parties to successfully or timely consummate the Transaction or to satisfy the conditions to the closing of the Transaction, including satisfaction of the minimum proceeds condition and the risk that any required regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect the combined company; the risk that the approval of the shareholders of NETD for the Transaction is not obtained; the failure to realize the anticipated benefits of the Transaction, including as a result of a delay in consummating the Transaction or difficulty in, or costs associated with, integrating the businesses of NETD and e2; the amount of redemption requests made by NETD's shareholders; the outcome of any current or future legal proceedings or regulatory investigations, including any that may be instituted against NETD or e2 following announcement of the Transaction; the occurrence of events that may give rise to a right of one or both of NETD and e2 to terminate the definitive agreements related to the Business Combination; difficulties or delays in the development of e2's business; the risks related to the rollout of e2's business and the timing of expected business milestones; potential benefits and commercial attractiveness to its customers of e2's products; the potential success of e2's marketing and expansion strategies; the effects of competition on e2's future business; the ability of e2 to convert its currently contracted revenues from new original equipment manufacturer sales and energy service agreements into actual revenue; the ability of e2 to recruit and retain key executives, employees and consultants; and the ability of e2 management to successfully manage a public company. Should one or more of the risks or uncertainties described herein and in any oral statements made in connection therewith occur, or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Additional information concerning these and other factors that may impact Nabors and NETD's expectations can be found in NETD's periodic filings with the SEC, including NETD's Annual Report on Form 10-K filed with the SEC on March 27, 2024 and any subsequently filed Quarterly Reports on Form 10-Q. NETD's SEC filings are available publicly on the SEC's website at www.sec.gov.
Investor Contacts:
William C. Conroy
+1 281-775-2423
william.conroy@nabors.com
Kara Peak
+1 281-775-4954
kara.peak@nabors.com
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SOURCE Nabors Industries Ltd.
FAQ
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