collaboration station

NASA, bp team up to share digital tech, expertise with new agreement

The agreement will enable bp and NASA to collaborate on an array of technologies. Photo courtesy of bp

Houston-based energy company bp America is helping NASA boost U.S. space exploration efforts.

Under an agreement signed August 7, bp and NASA will share digital technology and technical expertise developed over several decades. The energy company says the deal will help advance energy production on earth, and will help advance exploration of the moon, Mars, and other planets.

For example, the agreement will enable bp and NASA to collaborate on an array of technologies. This includes digital models and simulations that let engineers and scientists visualize equipment in remote locations more than 7,000 feet underwater or millions of miles away on another planet.

The bp-NASA partnership evolved thanks to the Space Act Agreement. This agreement, part of the National Aeronautics and Space Act of 1958, allows NASA to work with companies, universities, and other entities to propel space exploration.

In a news release, Ken Nguyen, principal technical program manager at bp, says: “bp has built a proud legacy of technological innovation as we deliver the energy the world needs today while investing in the energy system of tomorrow. As NASA pursues a sustained presence on the moon and Mars, we see a unique opportunity for bp and NASA to work collaboratively on the forefront of digital technology that will cultivate further innovation in energy and space.”

Initially, bp and NASA will focus on developing standards, and expanding the capabilities of visualization and simulation models. Subsequent phases might include:

  • Exchanging practices surrounding safety, communication, artificial intelligence, and other aspects of remote operations.
  • Collaborating on renewable energy, such as hydrogen, solar, regenerative fuel cells, and high-capacity batteries.

“Both bp and NASA are custodians of deep technical expertise, working in extreme environments — whether that’s at the bottom of the ocean or on the moon,” says Giovanni Cristofoli, senior vice president of bp Solutions. “Sharing what we know with each other will help us solve complex engineering problems faster, meaning we can focus on keeping energy flowing safely and delivering higher margins with lower emissions.”

This won’t be the first time bp and NASA have teamed up. Offshore workers from bp have undergone underwater escape training at NASA's Neutral Buoyancy Laboratory, the astronaut training pool near Johnson Space Center. In addition, NASA has used bp’s Castrol lubricants for more than 60 years.

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A View From HETI

PitchBook attributes $634 million in fourth-quarter VC to Fervo. Photo via Getty Images

The venture capital haul for Houston-area startups jumped 23 percent from 2023 to 2024, according to the latest PitchBook-NVCA Venture Monitor.

The fundraising total for startups in the region climbed from $1.49 billion in 2023 to $1.83 billion in 2024, PitchBook-NVCA Venture Monitor data shows.

Roughly half of the 2024 sum, $914.3 million, came in the fourth quarter. By comparison, Houston-area startups collected $291.3 million in VC during the fourth quarter of 2023.

Among the Houston-area startups contributing to the impressive VC total in the fourth quarter of 2024 was geothermal energy startup Fervo Energy. PitchBook attributes $634 million in fourth-quarter VC to Fervo, with fulfillment services company Cart.com at $50 million, and chemical manufacturing platform Mstack and superconducting wire manufacturer MetOx International at $40 million each.

Across the country, VC deals total $209 billion in 2024, compared with $162.2 billion in 2023. Nearly half (46 percent) of all VC funding in North America last year went to AI startups, PitchBook says. PitchBook’s lead VC analyst for the U.S., Kyle Stanford, says that AI “continues to be the story of the market.”

PitchBook forecasts a “moderately positive” 2025 for venture capital in the U.S.

“That does not mean that challenges are gone. Flat and down rounds will likely continue at higher paces than the market is accustomed to. More companies will likely shut down or fall out of the venture funding cycle,” says PitchBook. “However, both of those expectations are holdovers from 2021.”

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This story originally appeared on our sister site, InnovationMap.com.

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