Editor'snote: From Bracewell's expansion into Paris to GA Drilling's partnership with Petrobras, these are the top headlines that resonated with EnergyCapital readers on social media and daily newsletter this week.
Petrobras teams up with Houston co. to improve efficiency in drilling
GA Drilling will work with Petrobras’ R&D center to roll out an autonomous drilling system. Photo via Getty Images
Slovakian geothermal drilling technology company GA Drilling, whose U.S. headquarters is in Houston, has teamed up with Brazilian energy giant Petrobras to reduce well construction costs and well-drilling risks.
Under the new partnership, GA Drilling will work with Petrobras’ R&D center to roll out an autonomous drilling system that enables drilling at offshore wells from a light vessel instead of a costlier semi-submarine or drill ship.
“Taken together, the benefits of our drilling technologies equal better efficiency, leading to lower costs, [a] smaller operational footprint, and ultimately lower risk overall,” Igor Kočiš, co-founder and CEO of GA Drilling, says in a news release. Continue reading.
Houston law firm expands energy practice to Paris
The new office will expand Bracewell's capabilities in France and the broader Europe, the Middle East and Africa region. Photo via Bracewell
It's not just United States athletes descending upon France this summer. A Houston-based law firm has announced the expansion of its energy team into the region.
Bracewell LLP has opened an office in Paris La Défense and named 11 energy and infrastructure lawyers from Norton Rose Fulbright to the new location, which will be focused on project development, M&A, and finance transactions in the energy and infrastructure sectors. The team will have an emphasis on renewable and conventional power, energy transition, oil and gas, and infrastructure in France — as well as Europe, the Middle East, and Africa. Continue reading.
Houston company secures $837M for trio of Texas energy storage projects
All three of Intersect Power's storage systems — Lumina I, Lumina II, and Radian — are expected to be online this year. Photo courtesy of Intersect
Houston-based clean energy company Intersect Power has wrapped up $837 million in financing for the construction and operation of three standalone battery energy storage systems in Texas.
The money came in the form of debt financing, construction debt, and tax equity. The projects qualify for tax credits under the federal Inflation Reduction Act. Backers of the financing include Deutsche Bank, Morgan Stanley, and affiliates of HPS Investment Partners. Continue reading.
Why this entrepreneur believes Houston should lead resilience technology alongside the energy transition
Ali Mostafavi, founder of Resilitix.AI, joins the Houston Innovators Podcast to discuss how he pivoted to provide important data amid Hurricane Beryl. Photo via tamu.edu
When it comes to developing resilience technology, Houston startup founder Ali Mostafavi knows he's in the right place.
Mostafavi, a civil and environmental engineering professor at Texas A&M University, co-founded Resilitix.AI two years ago, and with the help of his lab at A&M, has created a platform that brings publicly available data into AI algorithms to provide its partners near-real time information in storm settings.
"We are very excited that our company is Houston based," he says on the Houston Innovators Podcast. "We should not be just ground zero of disasters. We have to also be ground zero for solutions as well. I believe Houston should be the hub for resilience tech innovation as it is for energy transition. Continue reading.
Expert weighs in on fire protection standards in hydrogen industry growth
With the projected uptick of new hydrogen production projects, an expert explores hydrogen fire protection, reflects on the measures and standards established to mitigate risks, and more. Photo courtesy
As First State Hydrogen continues to advance its groundbreaking clean hydrogen production facility in the U.S., the spotlight intensifies as hydrogen becomes an increasingly key player in the energy transition.
With the projected uptick of new hydrogen production and handling projects, let's explore hydrogen fire protection, reflect on the measures and standards established to mitigate risks, and ensure that the hydrogen economy thrives. Continue reading.