Baker Hughes

Baker Hughes is an energy technology company that provides a wide range of solutions to the oil and natural gas industry, as well as to industrial customers. With a workforce of approximately 60,000 employees, the company operates in over 120 countries, assisting clients in the exploration, evaluation, drilling, production, transportation, and processing of hydrocarbon resources. Baker Hughes specializes in oilfield services and equipment, with notable strengths in artificial lift, specialty chemicals, and completions. Additionally, the company has a significant presence in industrial power generation and process solutions, particularly within the liquid natural gas sector. By leveraging advanced technologies, Baker Hughes aims to support the energy transition and enhance operational efficiency for its global clientele.

Nasser Al Rawahi

UAE Country Director - IET Services

Matthias Heilmann Ph.D

President

14 past transactions

HIF Global

Private Equity Round in 2022
Developer and operator of e-fuel plants focused on accelerating decarbonization by producing carbon-neutral fuels. The company develops clean, carbon-neutral fuels via electrolysis and carbon dioxide from the atmosphere and industrial and biogenic sources, helping clients use green energy and replace fossil fuels.

Ekona

Series A in 2022
Ekona Power Inc. creates a solution for producing industrial scale hydrogen. It serves industrial H2 consumers, and natural gas transmission and distribution companies. The company is based in Vancouver, Canada.

Electrochaea

Series D in 2022
Electrochaea GmbH develops and commercializes a grid-scale power-to-gas energy storage technology. The company’s biocatalytic power-to-gas technology converts low-cost and stranded electricity into pipeline-grade renewable gas for direct injection into the existing natural gas grid, which is used for on-site power production, heating applications, or transmitted over long distances using existing pipelines. Its technology enables storing large amounts of renewable energy from wind and solar; and represents a solution for utility-scale energy storage, grid balancing, and carbon recycling. Electrochaea GmbH was founded in 2010 and is based in Planegg, Germany with additional operation facilities at Hvidovre, Denmark, and Sacramento, California.

Ekona

Series A in 2021
Ekona Power Inc. creates a solution for producing industrial scale hydrogen. It serves industrial H2 consumers, and natural gas transmission and distribution companies. The company is based in Vancouver, Canada.

Augury

Series E in 2021
Augury Inc. develops an artificial intelligence-powered platform that facilitates predictive maintenance for facility owners and service companies. Its offerings include a Diagnostics-as-a-Service solution that allows maintenance staff to conduct diagnostics on HVAC and other machinery, as well as a Predictive Maintenance solution that identifies maintenance needs based on the actual condition of equipment. The online management platform provides real-time status updates on monitored machinery, aiding in maintenance decision-making. Augury Halo, a cloud-based diagnostics tool, enables industrial and commercial facilities to monitor equipment health and predict potential failures. The company's technology combines asset performance management with advances in sensor technology and artificial intelligence, delivering insights that help optimize maintenance and enhance productivity. Serving various sectors such as food and beverage, pharmaceuticals, and facility management, Augury was founded in 2011 and is headquartered in New York, New York. The company has also established a strategic partnership with Grundfos.

Electrochaea

Venture Round in 2021
Electrochaea GmbH develops and commercializes a grid-scale power-to-gas energy storage technology. The company’s biocatalytic power-to-gas technology converts low-cost and stranded electricity into pipeline-grade renewable gas for direct injection into the existing natural gas grid, which is used for on-site power production, heating applications, or transmitted over long distances using existing pipelines. Its technology enables storing large amounts of renewable energy from wind and solar; and represents a solution for utility-scale energy storage, grid balancing, and carbon recycling. Electrochaea GmbH was founded in 2010 and is based in Planegg, Germany with additional operation facilities at Hvidovre, Denmark, and Sacramento, California.

ARMS Reliability

Acquisition in 2021
Developer of software for asset management solutions intended to maximize the performance of business assets. The company's software offers to digitize and centralize the entire asset strategy management process and simulation of proactive asset management and gives its clients the power to seamlessly upload and download data, thereby enabling its clients to efficiently develop, deploy and sustain effective strategies to all assets.

Compact Carbon Capture

Acquisition in 2020
Developer of a carbon capture technology designed to extract carbon dioxide from the atmosphere, factories, energy plants and other points of emission. The company's technology differs from traditional carbon capture solvent-based solutions by using rotating beds instead of static columns, effectively distributing solvents in a compact and modularized format, enabling clients to decrease carbon dioxide emissions and control air pollution.

Avitas Systems

Acquisition in 2019
Avitas Systems offers inspection solutions to oil & gas, and power sectors through predictive data analytics, robotics, and AI. Its solutions increase safety and decrease inspection costs by providing state-of-the-art robotic-based autonomous and semi-autonomous inspection management, smart scheduling, and a cloud-based platform that analyzes and stores comprehensive inspection data. Avitas Systems delivers advanced insights based on anticipated risk, boosting facility productivity.

JOA Oil & Gas

Acquisition in 2010
JOA Oil & Gas B.V. provides geological and reservoir simulation software for oil and gas industries. The company offers JewelSuite 3D gridding technology, which allows handling of complex geological structures and integrates seismic data, the geological model, flow simulation, and field geomechanics in one workflow; and JewelSuite Software Development Kit, a set of resources used for integrating external software into the JewelSuite framework. It also provides support and training services. The company offers its products through resellers and distributors in Thailand, Australia, Indonesia, and the Middle East. It has a strategic partnership with Baker Hughes. The company is based in Delft, the Netherlands with additional offices in Moscow, Russia; Albuquerque, New Mexico; Houston, Texas; Jakarta, Indonesia; Aberdeen, the United Kingdom; and Lagos, Nigeria. JOA Oil & Gas B.V. operates as a subsidiary of JOA group.

BJ Services Company

Acquisition in 2010
BJ Services Company was an oil and gas equipment and services company that is now a subsidiary of Baker Hughes.

JOA Oil & Gas

Venture Round in 2009
JOA Oil & Gas B.V. provides geological and reservoir simulation software for oil and gas industries. The company offers JewelSuite 3D gridding technology, which allows handling of complex geological structures and integrates seismic data, the geological model, flow simulation, and field geomechanics in one workflow; and JewelSuite Software Development Kit, a set of resources used for integrating external software into the JewelSuite framework. It also provides support and training services. The company offers its products through resellers and distributors in Thailand, Australia, Indonesia, and the Middle East. It has a strategic partnership with Baker Hughes. The company is based in Delft, the Netherlands with additional offices in Moscow, Russia; Albuquerque, New Mexico; Houston, Texas; Jakarta, Indonesia; Aberdeen, the United Kingdom; and Lagos, Nigeria. JOA Oil & Gas B.V. operates as a subsidiary of JOA group.

Nova Technology Corporation

Acquisition in 2006
NOVA Technology, as its name implies, provides innovative engineering solutions for reducing operator completion costs while enhancing production. This is accomplished with an array of services, including downhole Chemical Injection Systems (CIS); Continuous Reservoir Monitoring Systems (CRMS);and Multicontrol Line Installation Services (MLS). In addition, NOVA provides Downhole Corrosion Monitoring Systems (DCMS); Downhole Corrosion Engineering (DCE); Surface Chemical Injection Packages (SCIP); Quality Connection Services (QCS); Advanced Sealant Technology (AST) systems; and National Aerospace Standard (NAS) filtration services. For example, a deepwater completion requires a surface-controlled sub-surface safety valve (SCSSV) control line; downhole chemical injection tubing; and, in many cases, tubing encapsulated conductor for continuous reservoir monitoring. Generally, three separate suppliers provide these services. NOVA has the unique capability to cost effectively provide simultaneous multi-control line installation services to include sophisticated, real-time remote monitoring facilities with synergistic products and services (CRMS/CIS/MLS).

Luna Energy

Acquisition in 2005
Luna Energy is undergoing a global transformation that will have a dramatic impact on the way electricity is used and produced. The power generation infrastructure is moving toward a more sustainable footprint and the machines used in industry will be pushed to new heights of efficiency. To meet these twenty first century challenges engineers will need twenty first century tools for design and design validation. High definition fiber optic sensing (HD-FOS) is a twenty first century design tool for twenty first century challenges.
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