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Halliburton (HAL) Adds 3 Companies to Its Clean Energy Program

Halliburton Company’s HAL subsidiary, Halliburton Labs, announced the addition of three companies — FuelX, LiNa Energy and Solaires Entreprises — to its clean energy accelerator program. This is part of the subsidiary’s mission to advance clean energy innovation and provide early-stage companies with the necessary commercialization resources.

Advancing Clean Energy Innovation

Halliburton Labs is committed to advancing clean energy innovation, and the latest addition showcases its dedication to supporting early-stage companies in the clean energy sector. The program’s participants are offered access to industrial capabilities, technical expertise and global network connections that can help them scale their businesses. With the addition of FuelX, LiNa Energy and Solaires Entreprises to its clean energy accelerator program, Halliburton Labs is supporting the transition toward cleaner and more sustainable energy.

FuelX

The first new participant in Halliburton Labs’ clean energy accelerator program, FuelX, manufactures hydrogen storage materials and fuel cell power systems to accelerate the decarbonization of "things that move." The company uses alane solid-state hydrogen fuel, which has more energy per weight than lithium-ion batteries and more hydrogen per volume than standard hydrogen systems. This helps electrify the most demanding mobility applications.

LiNa Energy

The second participant, LiNa Energy, develops and provides low-cost, solid-state sodium batteries, with a focus on the renewable energy storage market. The company's participation in the program will help scale up its manufacturing capabilities to deliver bigger energy storage systems to its partners around the world.

Solaires Entreprises

The third participant, Solaires Entreprises,is focused on developing next-generation solar cells that are lightweight, flexible, efficient and transparent. The development is aimed at improving energy conversion and enabling a wider range of innovative solar energy applications. The company’s patented perovskite-based Solar Ink™ and modules use a simple and scalable manufacturing process to create affordable and high-performance solar modules.

Finalists Pitch Day

Halliburton Labs’ Finalists Pitch Day is scheduled for Thursday, Sep 21, in Denver. The upcoming event will be the centerpiece of Denver Startup Week's inaugural Energy Tech Day, featuring presentations from pioneering startups in the energy technology industry. It will provide a unique opportunity for investors and industry professionals to connect with promising startups in the clean energy sector.

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In conclusion, Halliburton Labs aims to advance clean energy innovation and help early-stage companies achieve commercialization milestones with supportive resources.

Zacks Rank and Key Picks

Halliburton Company is a leading oilfield service provider headquartered in Houston, TX, offering a wide range of services to the energy, industrial and government sectors across 80+ countries.

Currently, Halliburton Company carries a Zacks Rank #3 (Hold). Investors interested in the energy sector might look at some better-ranked stocks like Par Pacific PARR, sporting a Zacks Rank #1 (Strong Buy), and Marathon Petroleum MPC and Ranger Energy Services RNGR, each holding a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Par Pacific: PARR is worth approximately $1.63 billion. Its shares have risen 82.1% in the past year.

The company manages and maintains interests in energy and infrastructure businesses. Its operating segment consists of refining, retail and logistics.

Marathon Petroleum: MPC is valued at around $58.02 billion. It delivered an average earnings surprise of 20.91% for the last four quarters and its current dividend yield is 2.30%.

The company currently has a forward P/E ratio of 6.36. In comparison, its industry has an average forward P/E of 9.10, which means MPC is trading at a discount to the group.

Ranger Energy Services: RNGR is valued at around $242.99 million. In the past year, its shares have gained 16.8%.

Ranger Energy Services currently has a forward P/E ratio of 5.30. In comparison, its industry has an average forward P/E of 11.60, which means RNGR is trading at a discount to the group.

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Halliburton Company (HAL) : Free Stock Analysis Report

Marathon Petroleum Corporation (MPC) : Free Stock Analysis Report

Par Pacific Holdings, Inc. (PARR) : Free Stock Analysis Report

Ranger Energy Services, Inc. (RNGR) : Free Stock Analysis Report

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