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Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

Halliburton Labs Announces Inaugural Group of Companies

February 9, 2021 GMT

HOUSTON--(BUSINESS WIRE)--Feb 9, 2021--

Halliburton Labs today announced the inaugural group of companies selected to participate in its collaborative environment where entrepreneurs, academics, and investors come together to advance cleaner, affordable energy. Enexor BioEnergy, Momentum Technologies and OCO Inc. will have access to Halliburton’s deep business and technical expertise, facilities and network to accelerate their respective offerings.

“We are excited to welcome a strong group of companies who have demonstrated promising innovation and are working to solve important clean energy challenges,” said Dale Winger, managing director of Halliburton Labs. “We look forward to collaborating with these companies and providing world-class industrial capabilities and expertise to help them achieve further scale.”

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Enexor BioEnergy manufactures an on-site, renewable energy solution to help solve the world’s organic and plastic waste problems. The company’s patented bioenergy system converts almost any organic, plastic or biomass waste in any combination, into affordable, renewable power and thermal energy. “We are seeing tremendous inbound customer demand for Enexor’s renewable energy solution from across the world,” said Lee Jestings, founder and CEO of Enexor BioEnergy. “We are honored to join Halliburton Labs. Their broad global network and deep manufacturing expertise will assist Enexor in meeting its significant worldwide demand while making a significantly positive environmental impact. This is a major step forward in our worldwide launch.”

Momentum Technologies works with lithium battery recyclers and manufacturers to recover critical materials from waste for reuse. Developed in partnership with the U.S. Department of Energy, Momentum’s patented MSX technology efficiently recovers pure critical materials from spent lithium batteries, rare earth permanent magnets and other valuable waste products. MSX allows Momentum to build processing plants where the waste is generated, eliminating shipping costs and associated carbon emissions. “Halliburton Labs is the ideal environment to scale our cutting-edge lithium battery recycling technology. We are excited to tap into Halliburton’s Labs engineering and supply chain expertise and global business network to accelerate Momentum to the forefront,” said Preston Bryant, CEO of Momentum Technologies.

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OCO Inc. transforms carbon dioxide, water, and zero carbon electricity into a hydrogen-rich platform chemical that can be used to make a wide variety of zero-carbon chemicals, materials, and fuels. OCO’s process is highly carbon negative and much less expensive than existing fossil-based processes and feedstocks. “The valuable industrial expertise and network of Halliburton Labs will support our build, deployment, and demonstration of a full-size commercial grade system, the next step on our commercialization journey towards an industrial scale plant,” said Todd Brix, Founder and CEO of OCO Inc.

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.

View source version on businesswire.com:https://www.businesswire.com/news/home/20210209005279/en/

CONTACT: For Investors:

Abu Zeya

Investor Relations

investors@halliburton.com

281-871-2688

For News Media:

William Fitzgerald

External Affairs

pr@halliburton.com

281-871-5267

KEYWORD: UNITED STATES NORTH AMERICA TEXAS

INDUSTRY KEYWORD: OIL/GAS ALTERNATIVE ENERGY ENERGY ENVIRONMENT UTILITIES

SOURCE: Halliburton Labs

Copyright Business Wire 2021.

PUB: 02/09/2021 06:00 AM/DISC: 02/09/2021 06:01 AM

http://www.businesswire.com/news/home/20210209005279/en