Halliburton, a products and services provider to the energy industry, has launched an innovation lab to accelerate clean energy development
By providing access to Halliburton’s laboratory facilities, technical expertise and business network, Halliburton Labs, led by executive director Scott Gale, will accelerate the growth of innovative, early-stage companies.
Halliburton Labs, located at the company’s headquarters in Houston, supports the innovation community and fosters an open environment where participating companies can work together to solve current and future clean energy challenges. Accepted applicants will work with advisors at Halliburton Labs to advance their products, secure the financing needed 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 recognise 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 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 is a cutting-edge materials science innovator that transforms the fireproofing and insulation markets. Its technologies significantly reduce global energy consumption, while enhancing 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, CEO of Nanotech. “Access to Halliburton Labs’ resources and 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 moved into Halliburton Labs, and their work is ongoing. With the formal application process going live in September, additional companies will join in the coming months. Interested companies must have advanced their technology beyond the evidentiary phase.