Baker Hughes

Baker Hughes Holdings LLC, established in 1986, is a global energy technology company headquartered in Houston, Texas. It operates through four segments: Oilfield Services, Oilfield Equipment, Turbomachinery & Process Solutions, and Digital Solutions. The company offers a wide array of services and products, including drilling, evaluation, completion, and production services; pressure control equipment and subsea production systems; mechanical drive, compression, and power-generation equipment; and digital solutions for various industries. With a century of experience and operations in over 120 countries, Baker Hughes focuses on making energy safer, cleaner, and more efficient for people and the planet.

Nasser Al Rawahi

UAE Country Director - IET Services

32 past transactions

Baseload Capital

Series B in 2024
Baseload Capital is an international investment entity focused on facilitating the growth of renewable heat power generation worldwide. They provide tailored financial services and development advisory support to heat power operators, empowering them with the necessary resources to construct and manage sustainable heat power plants.

HIF Global

Corporate Round in 2024
HIF Global is an eFuel company dedicated to the production of carbon-neutral fuels aimed at accelerating decarbonization. The company employs renewable energy to generate green hydrogen through electrolysis and captures carbon dioxide from both atmospheric and industrial or biogenic sources. It specializes in creating a carbon-neutral equivalent of liquefied petroleum gas (LPG) through the production of green methanol. HIF Global's efforts provide a viable solution for reducing reliance on fossil fuels, contributing to a more sustainable energy future.

Elcogen

Corporate Round in 2024
Elcogen is a manufacturer and developer of high-performance anode-supported Intermediate Temperature Solid Oxide Fuel Cells (IT-SOFC) and SOFC stacks, established in 2001. The company specializes in proprietary materials and technological solutions that enhance the efficiency of solid oxide fuel cells, which are recognized as the most efficient method of energy conversion. Elcogen's technology significantly reduces emissions from natural gas systems, providing twice the power for the same amount of gas. Additionally, its fuel cells facilitate renewable energy generation by converting electricity into hydrogen for long-term storage. With a focus on efficiency, flexibility, and reducing commercial costs, Elcogen aims to support industries in the transition to green hydrogen production and contribute to a cleaner energy future.

Zhero

Corporate Round in 2023
Zhero is a developer of green and clean energy projects based in Amsterdam, Netherlands. The company specializes in various areas, including renewables, hydrogen and its derivatives, interconnections, energy storage, and project repurposing. By focusing on these sectors, Zhero aims to assist clients in achieving net-zero carbon emissions and advancing global decarbonization objectives.

ExerGo Sàrl

Seed Round in 2023
ExerGo provides energy concepts, feasibility studies, and engineering services for thermal network projects.

Unity National Bank

Corporate Round in 2023
Unity National Bank, founded in 1963 and based in Houston, Texas, offers a range of business and personal banking products and services. The bank specializes in business banking, providing various loans, including SBA loans, commercial real estate financing, and construction loans, as well as credit cards and services tailored for faith-based organizations. Additionally, it offers checking and savings accounts, online banking, mobile banking, and various cash management services. For personal banking, Unity National Bank provides loans for vehicles and home improvements, along with credit cards, savings accounts, and investment options such as CDs and IRAs. The bank is committed to enhancing the financial well-being of individuals and businesses, ensuring efficient service delivery while maintaining competitiveness in the banking sector. It was previously known as Peoples Bank before rebranding to Unity National Bank in 1989.

Baseload Capital

Convertible Note in 2022
Baseload Capital is an international investment entity focused on facilitating the growth of renewable heat power generation worldwide. They provide tailored financial services and development advisory support to heat power operators, empowering them with the necessary resources to construct and manage sustainable heat power plants.

Silbat

Seed Round in 2022
Silbat is a developer of innovative molten silicon batteries designed to revolutionize long-duration stationary energy storage. The company focuses on harnessing the latent heat of fusion of silicon to create batteries capable of operating for up to 100 hours. By utilizing thermophotovoltaics for electricity conversion, Silbat aims to provide a cost-effective energy storage solution, targeting an energy-related capital expenditure of less than $10 per kilowatt-hour. This technology enables 100% dispatchable variable renewable energy, positioning Silbat's offerings as competitive alternatives to traditional fossil and nuclear power plants. Through its advancements, the company seeks to enhance energy efficiency and reduce overall storage costs for its clients.

ExerGo Sàrl

Seed Round in 2022
ExerGo provides energy concepts, feasibility studies, and engineering services for thermal network projects.

BRUSH Group-Power Generation business

Acquisition in 2022
BRUSH Group-Power Generation business business designs, assembles and services large scale generators that provide primary and standby electrical power to customers across the infrastructure, renewables, oil and gas and utilities sectors.

AccessESP

Acquisition in 2022
AccessESP LLC is a Houston-based company that specializes in the design, development, and manufacturing of rigless electric submersible pump conveyance solutions for the global oil industry. Founded in 2004, the company focuses on providing innovative solutions for live production wells utilized by international and national oil companies. AccessESP is dedicated to reducing greenhouse gas emissions through its advanced slackline retrievable completion system, which minimizes the impact of deferred production and rig costs on high-performance electric submersible pump wells. By enhancing well productivity and improving reservoir recovery rates, AccessESP aims to support oil and gas operators in reducing intervention costs and achieving optimal performance in their operations.

HIF Global

Private Equity Round in 2022
HIF Global is an eFuel company dedicated to the production of carbon-neutral fuels aimed at accelerating decarbonization. The company employs renewable energy to generate green hydrogen through electrolysis and captures carbon dioxide from both atmospheric and industrial or biogenic sources. It specializes in creating a carbon-neutral equivalent of liquefied petroleum gas (LPG) through the production of green methanol. HIF Global's efforts provide a viable solution for reducing reliance on fossil fuels, contributing to a more sustainable energy future.

Veros Systems

Acquisition in 2022
Veros Systems, Inc. is a company that specializes in software-enabled solutions for physical asset life-cycle management, catering primarily to industrial clients. Founded in 2001 and based in Austin, Texas, Veros develops a web-based Predictive Intelligence Platform that provides actionable insights into the performance of electrically-driven rotating equipment, such as motors, pumps, and compressors. This platform utilizes nonintrusive monitors and machine learning algorithms to analyze electrical waveforms, allowing for continuous monitoring of equipment health and real-time predictions of reliability and energy efficiency. By integrating seamlessly with existing Enterprise Asset Management applications, Veros's solutions enable engineers and managers to enhance production, reduce costs, and improve overall operational efficiency across various industries, including oil and gas, electric utilities, manufacturing, and water treatment.

Altus Intervention

Acquisition in 2022
Altus Intervention Limited is a well intervention service company that specializes in providing a wide range of services for the oil and gas industry. The company offers wireline, wireline tractor, and logging services, as well as heavy-duty fishing and various auxiliary services. Its capabilities include cased hole logging, production logging, well integrity logging, and riserless light well intervention services. Additionally, Altus Intervention provides coiled tubing and pumping services, well engineering, pipeline services, and equipment rental for various specialized tools and machinery. Founded in 2001 and based in Aberdeen, United Kingdom, Altus Intervention was formerly known as WIS Qserv Ltd and rebranded in 2017 to unify its operations under a single identity. The company operates across multiple regions, including the UK, Norway, Denmark, West Africa, the Americas, and the Middle East, employing approximately 1,000 people globally.

Qi2 Elements

Acquisition in 2022
Qi2 Elements specializes in designing and manufacturing advanced robotic sensor systems. These systems are used to inspect, assess, and monitor the integrity of critical energy infrastructure, such as pipelines and storage tanks. The company's offerings include proprietary inspection technologies and engineering services, aimed at enhancing safety and operational efficiency in the energy industry.

GreenFire Energy

Series A in 2022
GreenFire Energy is a geothermal technology company that specializes in the development of Advanced Geothermal Systems (AGS), specifically its patented GreenLoop technology, which utilizes a closed-loop geothermal system. This innovative technology enhances the economic viability of both underperforming geothermal wells and new projects, providing resilient and sustainable energy solutions for various applications. GreenFire Energy's approach is environmentally advantageous compared to other renewable energy options, and it collaborates with notable global partners to implement AGS systems worldwide. The company has achieved significant milestones, including conducting the first field-scale demonstration of closed-loop geothermal technology in Coso, California, and is part of the Wells2Watts Consortium, which is exploring the use of GreenLoop technology in oil and gas wells. With a robust portfolio of 24 international patents and a record of publishing more technical papers on closed-loop geothermal technology than any competitor, GreenFire Energy is recognized for its expertise and commitment to accelerating the transition to clean, renewable energy.

Ekona

Series A in 2022
Ekona Power Inc. is a Vancouver-based company focused on producing industrial-scale hydrogen through innovative renewable energy generation technology. The company utilizes methane from feedstock to convert natural gas into clean hydrogen, electrical power, and carbon dioxide. By offering a low-cost and efficient solution, Ekona serves a range of industrial hydrogen consumers as well as natural gas transmission and distribution companies, enabling them to access clean energy for various industrial processes.

Electrochaea

Series D in 2022
Electrochaea GmbH is a German company specializing in the development and commercialization of innovative power-to-gas energy storage technology. Founded in 2010 and headquartered in Planegg, Germany, with additional facilities in Denmark and California, Electrochaea's proprietary biocatalytic process converts low-cost electricity and carbon dioxide into pipeline-grade renewable methane, the primary component of natural gas. This technology enables the efficient storage of renewable energy generated from sources like wind and solar, facilitating grid balancing and carbon recycling. By converting stranded electricity into renewable gas, Electrochaea provides a solution for utility-scale energy storage and supports the decarbonization of transportation and natural gas grids. The company aims to enhance existing infrastructure for energy transmission and contribute to a more sustainable energy landscape.

Ekona

Series A in 2021
Ekona Power Inc. is a Vancouver-based company focused on producing industrial-scale hydrogen through innovative renewable energy generation technology. The company utilizes methane from feedstock to convert natural gas into clean hydrogen, electrical power, and carbon dioxide. By offering a low-cost and efficient solution, Ekona serves a range of industrial hydrogen consumers as well as natural gas transmission and distribution companies, enabling them to access clean energy for various industrial processes.

Augury

Series E in 2021
Augury Inc. is a New York-based company that specializes in developing AI-driven software solutions for predictive maintenance in industrial operations. Founded in 2011, Augury offers a comprehensive platform that enables facility owners and maintenance staff to monitor machine health and optimize performance. Its Diagnostics-as-a-Service solution allows for routine diagnostics on HVAC and other building machinery, while its cloud-based Augury Halo provides real-time insights into mechanical equipment, predicting failures before they occur. By analyzing data from various types of machinery, Augury's technology helps clients across diverse sectors—including food and beverage, pharmaceuticals, and facility management—eliminate downtime and make informed maintenance decisions. The company's strategic partnership with Grundfos further enhances its ability to deliver impactful solutions.

Electrochaea

Venture Round in 2021
Electrochaea GmbH is a German company specializing in the development and commercialization of innovative power-to-gas energy storage technology. Founded in 2010 and headquartered in Planegg, Germany, with additional facilities in Denmark and California, Electrochaea's proprietary biocatalytic process converts low-cost electricity and carbon dioxide into pipeline-grade renewable methane, the primary component of natural gas. This technology enables the efficient storage of renewable energy generated from sources like wind and solar, facilitating grid balancing and carbon recycling. By converting stranded electricity into renewable gas, Electrochaea provides a solution for utility-scale energy storage and supports the decarbonization of transportation and natural gas grids. The company aims to enhance existing infrastructure for energy transmission and contribute to a more sustainable energy landscape.

ARMS Reliability

Acquisition in 2021
ARMS Reliability is a global provider of asset management solutions.

Compact Carbon Capture

Acquisition in 2020
Compact Carbon Capture is a company focused on developing innovative technology to mitigate CO2 emissions that contribute to global warming and climate change. The firm specializes in carbon capture solutions that extract carbon dioxide from various sources, including the atmosphere, factories, and energy plants. Unlike traditional solvent-based carbon capture methods that rely on static columns, Compact Carbon Capture utilizes rotating beds to effectively distribute solvents in a compact and modular format. This approach allows clients to significantly reduce their carbon dioxide emissions and manage air pollution more efficiently.

Avitas Systems

Acquisition in 2019
Avitas Systems specializes in providing advanced inspection solutions tailored for the oil and gas, and power sectors. The company utilizes predictive data analytics, robotics, and artificial intelligence to enhance safety, reduce asset downtime, and lower inspection costs compared to traditional manual methods. Its offerings include robotic-based autonomous and semi-autonomous inspection management, smart scheduling, and a cloud-based platform that facilitates the analysis and storage of comprehensive inspection data. By employing continuous monitoring and drone inspections, Avitas Systems empowers clients to leverage advanced analytics and automation techniques, ultimately transforming industrial asset inspection and monitoring processes and improving overall facility productivity.

JOA Oil & Gas

Acquisition in 2010
JOA Oil & Gas B.V. specializes in providing geological and reservoir simulation software tailored for the oil and gas industry. The company is known for its JewelSuite software, which utilizes patented 3D gridding technology to enhance simulation accuracy and facilitate the modeling of complex geological structures. This integrated tool allows users to seamlessly connect geological models with reservoir simulators, streamlining the workflow for reservoir management. JOA Oil & Gas also offers a Software Development Kit that enables the integration of external software into its JewelSuite framework, alongside support and training services. Headquartered in Delft, the Netherlands, the company has additional offices in various locations, including Moscow, Albuquerque, Houston, Jakarta, Aberdeen, and Lagos, and works with resellers and distributors across Thailand, Australia, Indonesia, and the Middle East. JOA Oil & Gas operates as a subsidiary of the JOA group and maintains a strategic partnership with Baker Hughes.

BJ Services

Acquisition in 2010
BJ Services is an oil and energy company that specializes in providing hydraulic fracturing and cementing services to the upstream oil and gas sector. The company focuses on supporting clients in the exploration and production of oil and natural gas resources in North America. By offering these essential services, BJ Services aims to facilitate and enhance the operational efficiency of its clients' projects in the industrial sector. It operates as a subsidiary of Baker Hughes, thereby integrating its specialized capabilities within a larger framework in the energy industry.

JOA Oil & Gas

Venture Round in 2009
JOA Oil & Gas B.V. specializes in providing geological and reservoir simulation software tailored for the oil and gas industry. The company is known for its JewelSuite software, which utilizes patented 3D gridding technology to enhance simulation accuracy and facilitate the modeling of complex geological structures. This integrated tool allows users to seamlessly connect geological models with reservoir simulators, streamlining the workflow for reservoir management. JOA Oil & Gas also offers a Software Development Kit that enables the integration of external software into its JewelSuite framework, alongside support and training services. Headquartered in Delft, the Netherlands, the company has additional offices in various locations, including Moscow, Albuquerque, Houston, Jakarta, Aberdeen, and Lagos, and works with resellers and distributors across Thailand, Australia, Indonesia, and the Middle East. JOA Oil & Gas operates as a subsidiary of the JOA group and maintains a strategic partnership with Baker Hughes.

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 Innovations

Acquisition in 2005
Luna Innovations is a company based in Roanoke, Virginia, specializing in sensing and instrumentation technologies. It develops and manufactures advanced products for various sectors, including healthcare, telecommunications, energy, and defense. Luna's core expertise lies in optical technology, particularly fiber optic, ultrasonic, and wireless sensing systems. The company creates innovative solutions that measure, monitor, and enhance critical processes across these industries. Its product offerings include high-performance fiber optic test and measurement tools, as well as distributed fiber optic sensing solutions that are applicable in areas such as aerospace, automotive, oil and gas, and infrastructure. Luna Innovations is recognized for its ability to transition scientific advancements into practical applications, addressing significant market needs through its cutting-edge technologies.

Hughes Tool Company

Acquisition in 1972
Hughes Tool Company specializes in the manufacturing of innovative drill bits designed to reduce dependence on fossil fuels and lithium-ion batteries. With a strong commitment to addressing climate change and environmental challenges, the company prioritizes technological advancements that promote sustainability. By focusing on eco-friendly power generation solutions that utilize movement and motion, Hughes Tool seeks to develop groundbreaking technologies that align with its mission of fostering a more sustainable future. The company is named in honor of Howard Hughes, Jr., reflecting a legacy of innovation and industrial prowess.
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