emissions-free flight

Houston-area company to develop next-gen batteries for electric helicopters

KULR Technology Group is developing a battery system for a zero-emission helicopter. Photo courtesy KULR

Webster-based KULR Technology Group has announced a strategic co-development collaboration with Robinson Helicopter Company (RHC) to develop a next-generation, high-performance battery system for the eR66 battery-electric helicopter demonstrator.

KULR, an electronics manufacturing company, will serve as the developer of the advanced battery system for the eR66 platform. KULR will design and integrate a high-performance battery structure that uses its proprietary battery safety technologies and thermal management solutions, previously developed for aerospace and spaceflight applications.

California-based Robinson Helicopter Company is the world's leading manufacturer of civil helicopters. Its eR66 is expected to deliver zero-emission, affordable and quiet performance for “high-demand applications.”

“Robinson Helicopter has built more civil helicopters than any manufacturer on Earth, and their commitment to reliability is exactly the standard KULR’s battery architecture is designed to meet,” Michael Mo, CEO of KULR, said in a news release. “KULR’s battery systems have been qualified for NASA spaceflight. They were designed from day one for dual use: a primary flight cycle and a certified second life. The eR66 is where that architecture proves itself in rotorcraft.”

David Smith, president and CEO of Robinson Helicopter Company, cited the partnership as a shift in service for commercial and civil operations and touted the potential environmental benefits.

“By integrating electric propulsion, we aren't just reducing our environmental impact; we are unlocking critical new capabilities for life-saving missions,” Smith added in the release. “For use cases like rapid organ and tissue transport, the reduced acoustic signature and zero-emission profile ensure that time-sensitive, low-emission deliveries are faster, quieter, and more sustainable than ever before."

The companies say, through the partnership, they aim to:

  • Advance eR66 performance
  • Enhance aviation safety
  • Increase cost efficiency
  • Uphold American aerospace leadership
  • Support decarbonization
  • Promote circular economy principles

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A View From HETI

Fervo plans to sell 70 million shares of Class A common stock at $25 to $26 per share. Photo courtesy Fervo Energy

Houston-based geothermal power company Fervo Energy is now eyeing an IPO that would raise $1.75 billion to $1.82 billion, up from the previous target of $1.33 billion.

In paperwork filed Monday, May 11 with the U.S. Securities and Exchange Commission, Fervo says it plans to sell 70 million shares of Class A common stock at $25 to $26 per share.

In addition, Fervo expects to grant underwriters 30-day options to buy up to 8.33 million additional shares of Class A common stock. This could raise nearly $200 million.

When it announced the IPO on May 4, Fervo aimed to sell 55.56 million shares at $21 to $24 per share, which would have raised $1.17 billion to $1.33 billion. The initial valuation target was $6.5 billion.

A date for the IPO hasn’t been scheduled. Fervo’s stock will be listed on Nasdaq under the ticker symbol FRVO.

Fervo, founded in 2017, has attracted about $1.5 billion in funding from investors such as Bill Gates-founded Breakthrough Energy Ventures, Google, Mitsubishi Heavy Industries, Devon Energy (which is moving its headquarters to Houston), Tesla co-founder JB Straubel, CalSTRS, Liberty Mutual Investments, AllianceBernstein, JPMorgan, Bank of America and Sumitomo Mitsui Trust Bank.

Fervo’s marquee project is Cape Station in Beaver County, Utah, the world’s largest EGS (enhanced geothermal system) project. The first phase will deliver 100 megawatts of baseload clean power, with the second phase adding another 400 megawatts. The site can accommodate 2 gigawatts of geothermal energy. Fervo holds more than 595,000 leased acres for potential expansion.

Cape Station has secured power purchase agreements for the entire 500-megawatt capacity. Customers include Houston-based Shell Energy North America and Southern California Edison.

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