Halliburton targets Israeli energy startups

• Published date: 29 May 2023

Halliburton Labs executive director Scott Gale says, "We are engaged in the challenge of connecting innovation with the industry whether in transport, storage or effectiveness. There are many technologies that require examination and our aim is to create a successful environment for them."

Halliburton Labs takes in companies for a 12-month program that includes training and close mentoring. As part of the program, startups receive assistance in designing their product, working with customers, and creating and learning about the supply chain. In addition, the aim is that the participants will work in promoting cleaner energy at a fair price.

Among the 24 startups participating in the program are Singaporean company SunGreenH2, which develops electrolysis components for hydrogen, Finnish company Rocsole, which develops tomography imaging and Indian company RenKube, which designs solar energy glass. Over the past 30 months, 70 companies have taken part in the program out of 250 who registered.

"Israel and its innovation - on the radar

So what is the company actually looking for in Israel? Gale says, "Israel's startup community is one of the world's most developed. This is reflected in the administration, the university and the number of participants.

"Therefore Israel and its innovation community are on the radar. I was in Israel in October and I'm excited to be here again, to undertake scouting and hold one-on-one meetings. I've already seen the passion, so I asked the question why not Israel?"

Israeli startups supporting energy companies

Energy companies are frequently perceived as outdated. Oil, natural gas and even refineries are therefore seeking solutions in Israel due to the extensive experience that the local tech industry has gained.

For example, Mobideo Technologies, which was founded in 2008 by chairman Yaron Eppel and CEO Amir Green, provides a platform for the digitalization of industrial workforces processes for companies with an emphasis on building and renovating installations, and routine maintenance and operations.

The company has 50 employees and operates an R&D center in Rosh Ha'ayin as well as offices in Houston, Texas. Its clientsinclude Delek US and Dow Chemical.

Eppel tells "Globes," "Each working day for factories in the energy field is worth millions of dollars, if not more. This investment requires constant involvement in maintenance and operation, when from time to time these facilities must be shut down and renovated. Also...