Halliburton Launches Innovation Lab for Clean Energy Startups
Providing a kick start for nascent companies developing clean energy technologies, Halliburton launched its innovation lab, Halliburton Labs. Its first participant is a nanomaterials company developing fireproofing and insulation technology.
Providing a kick start for nascent companies developing clean energy technologies, Halliburton launched its innovation lab, Halliburton Labs, on 31 July.
The company will make its laboratory facilities, technical expertise, and business network accessible to entrepreneurs, academics, investors, and industrial labs for collaboration to accelerate the growth of early-stage companies and the commercialization and scaling of their technologies to advance cleaner, affordable energy.
Accepted applicants will work with Halliburton Labs advisors to advance their products, secure needed financing, and prepare for further scale.
Located at the company’s Houston headquarters, the innovation lab will be led by Executive Director Scott Gale.
“Halliburton Labs reflects our commitment to the science and continued evolution of sustainable, reliable energy,” said Jeff Miller, chairman, president, and CEO of 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 recognize 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.”
Nanotech Inc., the first participant in the program, is a materials science innovator using nanotechnologies in fireproofing, insulation, and reducing global energy consumption and improving energy efficiency. Its website describes base, polymer, and silica carbide nano shields. a materials
Mike Francis, CEO of Nanotach, said, “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. “Access to Halliburton Labs’ resources and world-class 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 already moved into Halliburton Labs and its work is underway. The formal application process for additional candidates goes live in September. Interested companies must have progressed their technology beyond the proof-of-concept phase.