Adena Power joins Halliburton Labs

HOUSTON - July 23, 2024 - Halliburton Labs welcomes Adena Power, the newest company to join its collaborative environment for energy and climate ventures. Adena Power develops energy storage solutions for behind-the-meter commercial, industrial, and utility markets that use U.S. raw materials and manufacturing. Their innovative sodium battery technology targets unmet needs in these markets for lower installed cost, flexible duration, and safety relative to lithium-ion options.

There is a 100 terawatt-hours (TWh) opportunity for energy storage in the U.S. grid. With Halliburton Labs' support and operational expertise, Adena Power looks to accelerate scaling and take advantage of the high-growth market opportunity.

Nathan Cooley, co-founder and CEO of Adena Power

The announcement builds on an exciting year for Adena as the People's Choice Award winner at the National Renewable Energy Labs Industry Growth Forum. They were also awarded the MAKE IT Prize (Manufacture of Advanced Key Energy Infrastructure Technologies) by the U.S. Department of Energy - an award aimed at the promotion of domestic manufacturing of critical energy technology components.

"We are pleased to welcome Adena Power to Halliburton Labs," said Dale Winger, managing director of Halliburton Labs. "Our team is ready to collaborate with Adena to help them accelerate their growth to meet the demand for behind-the-meter storage solutions."

Halliburton Labs harnesses Halliburton's industrial experience, skilled workforce, and global business network to assist early-stage energy tech ventures to optimize their time and resources as they scale their business.

Join us: Finalists Pitch Day in September

Halliburton Labs invites energy and decarbonization industry innovators, startups, and investors to participate in the next Finalists Pitch Day in Houston on Friday, September 13, 2024. This event is part of Houston Energy and Climate Startup Week. It offers a unique opportunity to learn from startup finalists and exchange perspectives with leaders at the forefront of energy innovation.

Register here to be part of the experience and contribute to the future of sustainable energy.

About Halliburton Labs

Halliburton Labs is a collaborative environment where entrepreneurs, academics, investors, and experienced practitioners advance the future of energy faster. Halliburton Labs provides access to world-class facilities, a global business network, commercialization expertise, and financing opportunities to help participants scale their business. Visit the company's website at Halliburton Labs. Connect with Halliburton Labs on LinkedIn and Instagram. Halliburton Labs is a wholly owned subsidiary of Halliburton Company (NYSE: HAL).

Investor Relations Contact:
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