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Things to know: New lithium-focused JV, events not to miss, and more in Houston energy

Houston energy transition folks — here's what to know to start your week. Photo via Getty Images

Editor's note: Dive headfirst into the new week with three quick things to catch up on in Houston's energy transition: a podcast episode with a biotech leader, a big oil and gas deal, and events not to miss.

Podcast to stream: Prabhdeep Singh Sekhon, CEO of Gold H2, joins the Houston Innovators Podcast

Photo courtesy of Gold H2

Using microbes to sustainably unlock low-cost hydrogen sounds like the work of science fiction, but one Houston company is doing just that.

Gold H2, a spin-off company from Cemvita, has bioengineered subsurface microbes to use in wells to consume carbon and generate clean hydrogen. The technology was piloted two years ago by Cemvita, and now, as its own company with a new CEO, it's safe to say Gold H2's on its way.

"First of all, that was groundbreaking," Prabhdeep Singh Sekhon, CEO of Gold H2, says of the 2022 pilot in the Permian Basin, "to be able to use bugs to produce hydrogen within a couple of days."

"2024 is supposed to be the year where Gold H2 takes off," Sekhon, who joined the company in April, tells the Houston Innovators Podcast. "It was one of those opportunities that I couldn't turn down. I had been following the company. I thought, 'here is this innovative tech that's on the verge of providing a ground-breaking solution to the energy transition — what better time to join the team.'" Read more.

Events not to miss

Put these Houston-area energy-related events on your calendar.

  • The Energy Drone & Robotics Summit is coming to Houston June 10 to 12. Join for the ultimate event in the world for UAVs, Robotics & Data/AI, 3D Reality Capture, Geospatial and Digital Twins focused on the business and technology in energy & industrial operations, inspections, maintenance, surveying & mapping. Register now.
  • Argus Clean Ammonia North America Conference will take place on June 12 to 14 at the Hyatt Regency Houston. Over the three days of the conference, explore the big questions many producers are facing around where demand is coming from, expect to hear perspectives from key domestic consumers as well as international demand centres for clean ammonia. Register now.
  • Join the over 150 senior energy and utilities leaders from June 17 to 18 in Houston for AI in Energy to unlock the potential of AI within your enterprise and delve into key areas for its development.Register now.
  • Energy Underground (June) is a group of professionals in the Greater Houston area that are accelerating the Energy Transition that connect monthly at The Cannon - West Houston. Register now.
  • CCS/Decarbonization Project Development, Finance and Investment, taking place July 23 to 25, is the deepest dive into the economic and regulatory factors driving the success of the CCS/CCUS project development landscape. Register now.

Big deal: Oxy launches JV to demonstrate, deploy promising lithium technology

Houston-based Oxy has opted into a joint venture with BHE Renewables, a wholly-owned subsidiary of Berkshire Hathaway Energy headquartered in Des Moines, Iowa. The partnership will demonstrate and deploy direct lithium extraction technology from TerraLithium, a wholly-owned subsidiary of Oxy.

TerraLithium's DLE technology extracts and commercially sustainably produces lithium compounds from geothermal brine. Lithium has been a vital part of batteries for electric vehicles, and energy grid storage, which both areas have seen continued demand. The battery lithium demand is expected to increase tenfold over 2020–2030 according to the International Renewable Energy Agency

“Creating a secure, reliable and domestic supply of high-purity lithium products to help meet growing global lithium demand is essential for the energy transition,” President and General Manager of TerraLithium Jeff Alvare says in a news release. “The partnership with BHE Renewables will enable the joint venture to accelerate the development of our Direct Lithium Extraction and associated technologies and advance them toward commercial lithium production.” Read more.

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A View From HETI

Houston-based SLB says the acquisition will help it dramatically scale revenue generated by its data center business. Photo courtesy SLB

Houston’s SLB has announced plans to acquire German thermal management and heat exchange technology organization Kelvion for approximately $4 billion.

SLB reports in a news release that the acquisition is expected to boost its Data Center Solutions business, as thermal management technologies are key to cooling artificial-intelligence-related infrastructure. Data centers continue to pose numerous challenges, but SLB believes thermal management technology can help ease energy burdens.

“Data centers are becoming more sophisticated and energy-intensive, and customers are increasingly looking for partners that can optimize how critical systems work together across the facility and help bring new capacity online faster,” Gavin Rennick, president of SLB’s New Energy and Industrial business, said in the release. “Thermal management is central to that challenge, and this acquisition allows us to address it directly by delivering more integrated cooling solutions, accelerating innovation, optimizing thermal efficiency, and more directly embedding thermal management into our modular infrastructure offering.”

SLB will acquire Kelvion from funds managed by New York-based financial services group Apollo Global Management Inc. for approximately $3.4 billion in cash and will assume about $700 million of debt, according to the release. The deal is expected to close in Q1 of 2027.

SLB says the acquisition will help it dramatically scale revenue generated by the data center sector.

“This transaction accelerates our ambition to become an industrial technology partner to the data center industry and help customers address the growing infrastructure complexity required to scale AI,” Olivier Le Peuch, CEO of SLB, added in a news release. “Kelvion advances our path toward more integrated data center infrastructure solutions, expands our addressable market — more than doubling our revenue opportunity per gigawatt of delivered capacity — and allows us to scale both our offerings and the global reach of the business.”

SLB reports that it expects its Data Center Solutions business revenues to grow by more than 90 percent annually between 2024 and 2026.

If the acquisition is approved, the combined company will target revenue of $4.5 billion to $5 billion for its data center solutions business in 2028, according to the release.

Kelvion has previously served customers in AI infrastructure, energy system transformation and energy/ industrial markets. Its past work focuses on heat pumps, renewables, carbon capture and processing solutions for thermal management. According to the news release, Kelvion's data center revenue is expected to reach about $1.2 billion in 2026, and the sector is considered the company’s "largest and fastest-growing end market.

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