HOUSTON – Halliburton Co. has created Halliburton Labs – a collaborative environment where entrepreneurs, academics, investors, and industrial labs come together to advance cleaner, affordable energy.
Led by Executive Director Scott Gale, Halliburton Labs is expected to accelerate the growth of early-stage companies by providing access to the company’s lab facilities, technical expertise and business network.
Located at the company’s Houston headquarters, Halliburton Labs is said to add support to the flourishing innovation community and fosters an open environment where participating companies can collaborate to solve current and future clean-energy challenges. Accepted applicants will work with the company’s advisors to advance their products, secure needed financing and prepare for further scale.
Nanotech Inc., a materials science innovator in the fireproofing and insulation markets, has signed an agreement to be the first participant. The company’s technologies reduce global energy consumption, while improving energy efficiency, fireproofing capabilities, and safety.
The company has already moved into Halliburton Labs and its work is under way.
Additional companies will join in the coming months as the formal application process goes live in September. Interested companies must have progressed their technology beyond the proof-of-concept phase.