Schlumberger New Energy Enters into Agreement with EnerVenue for Metal-Hydrogen Stationary Energy Storage Solutions
08 September 2021 - 2:00PM
Business Wire
This strategic investment provides
Schlumberger with access to the fast-growing stationary energy
storage solutions market through differentiated technology
Schlumberger New Energy announced today an investment and
collaboration agreement to deploy EnerVenue’s uniquely
differentiated nickel-hydrogen battery technology, which is a key
enabler of stationary energy storage solutions. Schlumberger New
Energy and EnerVenue will work together to progress large-scale
deployment of nickel-hydrogen battery technology across selected
global markets.
Energy storage solutions are critical to the evolution of the
energy mix as the energy transition demands greater contribution
from renewable sources. The focus on expanding electrification is
accelerating the need for large scale deployment of safe, cost
effective, sustainable and reliable stationary energy storage
solutions. There is a rapidly growing market for such solutions
across utility-scale grid storage, off-grid commercial and
industrial storage, and residential sectors.
“At Schlumberger, we’re eager to leverage our technology
expertise and global footprint in introducing EnerVenue’s
technology to this important emerging market,” said Ashok Belani,
Executive Vice President, Schlumberger New Energy. “We are excited
about the potential this technology holds for the energy
transition.”
“Schlumberger New Energy will emerge as one of the long-term
energy transition infrastructure leaders,” said Jorg Heinemann,
CEO, EnerVenue. “We look forward to supporting Schlumberger’s new
energy vision, and to working with the company to bring our battery
technology to organizations across the world.”
About Schlumberger New Energy
Schlumberger is the world's leading provider of technology to
the global energy industry. Schlumberger New Energy explores new
avenues of growth by leveraging Schlumberger’s intellectual and
business capital in emerging new energy markets, with a focus on
low-carbon and carbon-neutral energy technologies. Its activities
include ventures in the domains of hydrogen, lithium, energy
storage, carbon capture and sequestration, geothermal power and
geoenergy for heating and cooling buildings.
Learn more about Schlumberger New Energy: newenergy.slb.com
About EnerVenue
EnerVenue builds simple, safe, maintenance-free energy storage
for the clean energy revolution – based on technology proven over
decades in extreme conditions, now scaled for large renewable
energy integration applications. The first to bring
aerospace-proven metal-hydrogen battery technology into the clean
energy revolution, EnerVenue provides an affordable alternative to
lithium-ion batteries with capabilities well-suited to
harsh-desert, remote project sites and to customers desiring
‘install and forget’ energy storage solutions. The company is
headquartered in Fremont, California.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains “forward-looking statements” within
the meaning of the U.S. federal securities laws — that is,
statements about the future, not about past events. Such statements
often contain words such as “expect,” “may,” “believe,” “plan,”
“can,” “estimate,” “intend,” “anticipate,” “should,” “could,”
“will,” “likely,” “goal,” “objective,” “potential,” “projected” and
other similar words. Forward-looking statements address matters
that are, to varying degrees, uncertain, such as projected demand
growth for stationary energy storage solutions and nickel hydrogen
battery technology; forecasts or expectations regarding the
development of, or anticipated benefits of, EnerVenue’s
nickel-hydrogen battery technology and other Schlumberger New
Energy initiatives; and other forecasts or expectations regarding
the energy transition and global climate change. These statements
are subject to risks and uncertainties, including, but not limited
to, the inability to recognize intended benefits from Schlumberger
New Energy strategies, initiatives or partnerships; legislative and
regulatory initiatives addressing environmental concerns, including
initiatives addressing the impact of global climate change; and
other risks and uncertainties detailed in the companies’ public
filings, including Schlumberger’s most recent Forms 10-K, 10-Q and
8-K filed with or furnished to the U.S. Securities and Exchange
Commission. If one or more of these or other risks or uncertainties
materialize (or the consequences of such a development changes), or
should underlying assumptions prove incorrect, actual outcomes may
vary materially from those reflected in our forward-looking
statements. The forward-looking statements speak only as of the
date of this press release, the parties disclaim any intention or
obligation to update publicly or revise such statements, whether as
a result of new information, future events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20210908005635/en/
Media Giles Powell – Director of Corporate Communication,
Schlumberger Limited Tel: +1 (713) 375-3494
communication@slb.com
Investors Ndubuisi Maduemezia – Vice President of
Investor Relations, Schlumberger Limited Joy V. Domingo – Director
of Investor Relations, Schlumberger Limited Tel: +1 (713) 375-3535
investor-relations@slb.com
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