PRESS RELEASE

3000 N. Sam Houston Pkwy E., Houston, TX 77032
Phone: 281-871-2699

FOR IMMEDIATE RELEASEADENA POWER JOINS HALLIBURTON LABS
Halliburton Labs to support Adena’s scale-up;
to hold finalists Pitch Day as part of Houston Energy and Climate Startup Week
HOUSTON – July 23, 2024 – Halliburton Labs welcomes Adena Power, the newest company to join its
collaborative environment for energy and climate ventures. Adena Power develops energy storage
solutions for behind-the-meter commercial, industrial, and utility markets that use U.S. raw materials
and manufacturing. Their innovative sodium battery technology targets unmet needs in these markets
for lower installed cost, flexible duration, and safety relative to lithium-ion options.
"There is a 100 terawatt-hours (TWh) opportunity for energy storage in the U.S. grid," said Nathan
Cooley, co-founder and CEO of Adena Power. "With Halliburton Labs’ support and operational
expertise, Adena Power looks to accelerate scaling and take advantage of the high-growth market
opportunity."
The announcement builds on an exciting year for Adena as the People’s Choice Award winner at theNational Renewable Energy Labs Industry Growth Forum. They were also awarded the MAKE IT Prize(Manufacture of Advanced Key Energy Infrastructure Technologies) by the U.S. Department of Energy an award aimed at the promotion of domestic manufacturing of critical energy technology components.
“We are pleased to welcome Adena Power to Halliburton Labs,” said Dale Winger, managing director ofHalliburton Labs. “Our team is ready to collaborate with Adena to help them accelerate their growth tomeet the demand for behind-the-meter storage solutions.”
Halliburton Labs harnesses Halliburton’s industrial experience, skilled workforce, and global businessnetwork to assist early-stage energy tech ventures to optimize their time and resources as they scale
their business.
Join us: Finalists Pitch Day in September
Halliburton Labs invites energy and decarbonization industry innovators, startups, and investors toparticipate in the next Finalists Pitch Day in Houston on Friday, September 13, 2024. This event ispart of Houston Energy and Climate Startup Week. It offers a unique opportunity to learn from startup
finalists and exchange perspectives with leaders at the forefront of energy innovation.
Register here to be part of the experience and contribute to the future of sustainable energy.

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PRESS RELEASE

3000 N. Sam Houston Pkwy E., Houston, TX 77032
Phone: 281-871-2699

About Halliburton Labs
Halliburton Labs is a collaborative environment where entrepreneurs, academics, investors, andindustrial labs join to advance cleaner, affordable energy. Located at the Halliburton headquarters inHouston, Texas, Halliburton Labs provides access to world-class facilities, operational expertise,practical mentorship, and financing opportunities in a single location to help participants scale theirbusiness. Visit the company’s website at Halliburton Labs. Connect with Halliburton Labs on LinkedIn
and Instagram. Halliburton Labs is a wholly owned subsidiary of Halliburton Company (NYSE: HAL).

###Investor Relations Contact

Press Contact

David Coleman
investors@halliburton.com
281-871-2688

Victoria Ingalls
pr@halliburton.com
281-608-8839

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