Nabors

Moving industry forward with next-gen advancements in energy storage and transmission

Alternative Energy

Quaise has developed a millimeter-wave drilling technology that allows access to deep geothermal energy; overcoming the current geographical constraints facing geothermal energy technology. The proprietary technology was invented at the MIT Plasma Science and Fusion Center. The technology involves using a gyrotron to generate millimetric electromagnetic waves for drilling at depths beyond the capabilities of conventional drilling— up to 10 - 20 kilometers.Quaise intends to begin testing its first full-scale rig in 2024 and aims to have its first wells delivering heat in 2026 and the first power plant retrofitted in 2028.Funding and financialsIn <a href="https://sp-edge.com/updates/27803">March 2024</a>, Quaise raised USD 21 million in a Series A1 financing round led by Prelude Ventures and Safar Partners. The company intended to use the funds to improve its geologic understanding at pilot plant locations by conducting magnetic and seismic surveys to identify the most suitable areas for initial drilling. This will then inform the company where to place the first commercial pilots. In <a href="https://sp-edge.com/updates/25729">December 2023</a>, Quaise raised raised USD 13 million to improve its supply chain capabilities.Prior to this, in June 2022, the company raised USD 12 million as the <a href="https://sp-edge.com/updates/10959">second tranche</a> of its Series A round led by TechEnergy Ventures. In February 2022, the company raised USD 40 million as the <a href="https://sp-edge.com/updates/8387">first tranche</a> of its Series A funding round led by Safar Partners. Previously in August 2021, Quasie raised USD 12 million in a <a href="https://sp-edge.com/updates/4728">funding round</a> led by Nabors Industries, a leading global land drilling company. The funds were utilized for the development of Quaise’s millimeter-wave drilling technology. Quaise’s geographical presence spreads across three locations: Boston, Houston, and Cambridge, UK.

Natron Energy develops sodium-ion batteries using Prussian Blue chemistry as an alternative to lead-acid and lithium-ion batteries. Natron claims that its battery solution is the first to not be lifetime-limited due to chemical factors. The company’s new cell technology is based on Prussian Blue analog electrodes and a sodium-ion electrolyte that charge and discharge by single-phase reactions within the stability window of the electrolyte. This eliminates the conversion reactions and electrolyte decomposition that limit the lifetime of lead-acid and lithium-ion cells. Natron’s battery technology can be used in mission-critical stationary applications such as data centers, electric forklifts, smart grids and microgrids, and renewable energy support systems.In September 2020, Natron announced that its BlueTray 4000 rack-mounted battery pack would be commercially available for shipment. The BlueTray 4000 is an 8-kilowatt, 50-volt battery tray that can be used in data centers to manage peak compute load and provide critical backup power. Natron claims that BlueTray 4000 provides data center operators up to double the power density and 10 times the lifecycle compared to existing products.In <a href="https://sp-edge.com/updates/13744">October 2022 </a>, Natron launched its Blue Rack battery cabinet in 250kW and 500kW configurations. This world's first sodium-ion battery cabinet can be used for data centers, peak power-shaving, and other industrial power environments.Funding and financialsThe company raised USD 189 million in January 2024 according to a <a href="https://www.sec.gov/Archives/edgar/data/1567664/000156766424000001/xslFormDX01/primary_doc.xml">SEC filing</a>. In September 2020, Natron received a USD 20 million grant from the US Department of Energy’s Advanced Research Projects Agency-Energy (ARPA-E) to expand commercial production of its battery pack to 18,000 trays per year.Natron raised USD 7 million in a strategic investment round led by Nabors Industries in July 2022. Previously the company raised USD 35 million in a July 2020 Series D round led by ABB Technology Ventures, NanoDimension, and Volta Energy Technologies. The funds were earmarked for increased product operations to meet market demand.

GA Drilling is a high-tech company developing and commercializing a groundbreaking technology platform PLASMABIT. Our technology enables massive time and cost savings compared to relevant existing drilling technologies and opens up vast new possibilities in oil & gas, geothermal energy, mining and tunneling.

Sage Geosystem is a transformative geothermal development company working to optimize both the well(s) and power plant to make geothermal accessible and affordable everywhere.

Natron Energy is an energy storage company that develops sodium ion battery solutions leveraging Prussian Blue electrode materials. Natron’s battery products are based on a unique Prussian Blue chemistry and can integrate into a wide variety of energy storage applications, ranging from critical backup power systems to EV fast charging and behind-the-meter applications.

Quaise is an energy company that is developing and commercializing novel millimeter-wave drilling systems to harness geothermal energy around the globe, overcoming the geographic constraints limiting this energy source today. The company was founded in 2018 and is based in Cambridge, Massachusetts.

Nabors owns and operates the world's largest land-based drilling rig fleet and is a leading provider of offshore platform workover and drilling rigs in the U.S. and multiple international markets. Nabors also provides innovative drilling technology, directional drilling operations and drilling instrumentation and software. Through its various subsidiaries, Nabors manufactures and sells top drives, catwalks, wrenches, drawworks and other drilling-related equipment which are installed on both onshore and offshore drilling rigs.

Nabors Announces Offering of Senior Guaranteed Notes

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Hardware and software solutions leveraging robotics, AI, sensors, Big Data, and drones to automate and enhance the oil and gas field exploration, extraction, and drilling processes.

Platforms for monitoring pipeline networks, oil and gas wells, and storage tanks, utilizing AI, sensors, and aerial imagery for data-driven decision-making and optimization.

Solutions utilizing advanced analytics and real-time data to predict operational outcomes, optimize schedules, and deploy predictive maintenance strategies to improve operational efficiency and minimize cost.

Solutions that use technologies like quantum sensing and electromagnetic tech for the detection and containment of gas leaks and oil spills, ensuring environmental protection.

Solutions specializing in safely storing and transporting oil and gas through the use of camera systems, sensor technology, AUVs, and ROVs, with a focus on inspection, explosion risk detection, and efficient delivery.

Operators of marketplaces that connect players across the oil and gas industry, facilitating trading, price tracking, and the buying, selling, and leasing of oil rights.

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Alfa8

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ignis H2 Energy Inc

Virya

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United Airlines

+ND Capital

Companies developing long-duration stationary energy storage technologies that are essential to match the intermittent supply of renewable sources with the inflexible demand for energy. Includes utility-scale, industrial, and residential stationary energy storage solutions

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Safar Partners

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The Engine

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Companies that facilitate renewable energy generation through disruptive technologies such as geothermal, fusion, wave, tidal, etc.

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