Schlumberger New Energy Enters Into Agreement With EnerVenue For Metal-Hydrogen Stationary Energy Storage Solutions

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. For more information, visit 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.