Saudi Aramco, Schlumberger lead a financing round for a hydrogen battery company
EnerVenue has established a framework for a major distribution and manufacturing agreement with Schlumberger
The exterior of a Schlumberger Corporation building is pictured in West Houston January 16, 2015. Schlumberger, the world's No.1 oilfield services provider, said it will cut 9,000 jobs, or about 7 percent of its workforce, as it focuses on controlling costs amid plummeting oil prices. REUTERS/Richard Carson
By Staff Writer, Arab News
RIYADH: EnerVenue, the first company to offer metallic hydrogen batteries, announced that it has raised $100 million in Series A funding, led by Schlumberger New Energy and Saudi Aramco Energy Ventures (SAEV)- Aramco Ventures' capital programme, the company said in a statement.
EnerVenue has established a framework for a major distribution and manufacturing agreement with Schlumberger, which will contribute to the wider availability of its batteries in global markets.
The company develops robust, flexible, and secure battery energy storage solutions based on technology proven over decades of use under the most extreme flight conditions, including operating the International Space Station and the Hubble Space Telescope.
Enervenue was created in 2020 to bring the proven advantages of the metallic hydrogen battery into the electrical grid and other power applications, after a series of developments to significantly reduce cost and increase the availability of raw materials for the technology created by NASA in this field
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