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Fervo Energy Secures Additional $255 Million Funding to Meet Energy Demand
Fervo Energy, a next-generation geothermal development, has secured $255 million in new funding and capital availability as it continues to build the world’s largest enhanced geothermal systems (“EGS”) power development. The announced funding comprises both opportunistic corporate equity and new debt financing. Capricorn’s Technology Impact Fund II led the $135 million corporate equity round. Fervo
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Senslytics Awarded Phase 1 SBIR Grant from DOT to Develop an AI Solution for Internal Corrosion
Senslytics, an artificial intelligence startup that provides early identification of risks for energy companies, has been awarded a SBIR Phase I grant from the U.S. DOT to address the critical issue of internal corrosion in hazardous liquid pipelines. Senslytics’ proposed solution is designed to use existing forms of pipeline data and corrosion expert knowledge to develop an
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Occidental Low Carbon Ventures and TAE Technologies Explore Fusion Energy for Direct Air Capture Facilities
Oxy Low Carbon Ventures , a subsidiary of Occidental and TAE Technologies, a global leader in fusion energy development, announced they have signed a memorandum of understanding to explore commercial opportunities that use TAE’s fusion technology to provide emissions-free power and heat for Direct Air Capture (DAC) facilities. Fusion technology has the potential to deliver
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Sage Geosystems to Advance Energy Resilience with Geothermal Energy Solutions at Fort Bliss
Sage Geosystems, the developer of Geopressured Geothermal Systems (GGS), announced it will begin a geothermal initiative at Fort Bliss for the U.S. Army and the Defense Innovation Unit (DIU). Sage Geosystems will explore the potential to deploy its proprietary GGS technology to supply clean and secure energy to the base. Additionally, the company will evaluate
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Artificial Intelligence (AI) in the Oil & Gas Market, Forecast to 2028: Integrating AI with Legacy Systems Remains a Challenge
The oil and gas industry is poised for a digital revolution with the surge in Artificial Intelligence (AI) integration, as detailed in a new research publication. The market, currently valued at USD 3.37 billion in 2022, is expected to experience unprecedented growth with a compound annual growth rate (CAGR) of 12.62% through 2028. This surge
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AVEVA opens global design competition for AI-powered solutions
AVEVA has announced the initiation of its first-ever AVEVA E3D Design Competition. The contest extends a global invitation to users, encouraging them to devise innovative solutions using AVEVA E3D Designs’ artificial intelligence (AI) and machine learning (ML) module to navigate business challenges associated with their organisations. AVEVA E3D Design fosters potent visualisation and collision-free, multidiscipline
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Welligence Energy Analytics Announces $41 Million Minority Growth Equity Investment
Welligence Energy Analytics, an energy data & intelligence firm specializing in global oil and gas markets, greenhouse gas emissions, and projects related to carbon capture storage and utilization (CCUS), has raised $41 million in growth capital. The investment, which represents a minority stake in the company, was led by Elephant with participation from Veriten, EDG Group, and several
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Kodiak Unveils Industry-First Semi-Truck Designed for Scaled Driverless Deployment
Kodiak Robotics, Inc., a leading self-driving trucking company, today introduced the world’s first driverless-ready semi-truck designed for scaled deployment. It is equipped with all the necessary redundant safety-critical hardware, including braking, steering and sensors, as well as the software required for driverless operations at scale. Kodiak’s sixth-generation truck further enhances the overall reliability of the
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JSX orders up to 330 hybrid-electric regional airplanes
U.S. regional air carrier JSX on Tuesday announced plans to buy more than 130 hybrid-electric aircraft from three start-up companies, with options that could bring orders past 330 planes. The carrier made firm orders for 50 19-seat Era aircraft from France’s Aura Aero, 50 30-seat ES-30s from Sweden’s Heart Aerospace, and 32 9-seat aircraft from
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Halliburton Labs to collaborate with seven new companies to advance energy, climate innovation
Accodring to World Oil, Halliburton Labs announced Airovation Technologies, Ayrton Energy, Cache Energy, CENS, Disa Technologies, Marel Power Solutions, and XtraLit as the newest participants in its collaborative environment. This is part of Halliburton Labs’ ambition to advance energy and climate innovation and help early-stage companies by contributing expertise, connections, facilities, and more to help
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bp looks to leverage power of generative AI with Copilot for Microsoft 365
bp has announced that it will be expanding the use of generative AI to enhance its global employee experience through the use of Copilot for Microsoft 365. bp is one of the first companies globally to act as a launch partner for the ‘intelligent AI assistant.’ bp will be able to roll out access at
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CNOOC and Bureau Veritas sign a strategic cooperation framework agreement
The agreement includes scientific and technological innovation in offshore oil and gas engineering and construction, green and low-carbon transformation and development, LNG and new energies, and mid- and downstream industries The China National Offshore Oil Corporation (CNOOC), the largest offshore oil and gas production operator in China, has signed a strategic cooperation framework agreement with
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