Published Aug 03, 2020 by A.J. Mistretta
Halliburton Co. hopes to use its lab facilities and technical expertise to help foster early-stage cleantech or new energy companies.
The Houston-based energy services giant announced in late July that it was launching Halliburton Labs at its headquarters. The new program will create a collaborative environment where “entrepreneurs, academics, investors, and industrial labs come together to advance cleaner, affordable energy.”
Emerging cleantech companies will apply to participate in the new Halliburton Labs where they’ll work with the program’s advisors to advance their products, secure financing and scale-up their technology.
“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 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.”
Scott Gale will serve as executive director of the new Halliburton Labs.
Halliburton Labs is the latest cleantech announcement here in Houston as the city looks to position itself as a center for energy transition. In June the Boston-based cleantech incubator Greentown Labs announced it would open its second office in Houston next year to bring emerging startups together with legacy energy companies.
A broad consortium of startup incubators and accelerators have opened across the Houston area in the last two years as part of an effort to grow Houston’s innovation ecosystem. Operators including The Cannon, Plug and Play, Headquarters, MassChallenge, Capital Factory and more have launched operations and begun accepting cohorts of new startups.
Halliburton Labs has already selected its first participant company, Nanotech Inc., a materials science innovator that looks to transform the fireproofing and insulation markets.
Nanotech has already moved into Halliburton Labs and their work is underway. Additional companies will start applying to join the program in September.