Month: March 2024

Partnership with Venture Metals + collects, processes, and manages full down-stream recycling of scrap materialsGrowing initiative looks to expand to 5 key Baker Hughes global locations in 2024

HOUSTON, March 18, 2024 /3BL/ – As one of the first companies in its industry to announce a net-zero commitment by 2050, Baker Hughes continues to broaden ways in which it reduces its environmental footprint. In just three years, the energy technology company diverted over 125 million pounds of scrap metals from over 50 Baker Hughes locations.

Baker Hughes is committed to environmental stewardship and promoting the principles of a circular economy to reduce waste by minimizing resource use through reuse, repair and refurbishment. The growing initiative to capture scrap metal is a partnership with Venture Metals +, a full-scale scrap processor and a leader in the environmental services industry that collects, recycles and manages full down-stream recycling of scrap materials to divert away from landfills. With direct access to foundries, mills and end consumers, Venture Metals + provides recycling, reclamation, and investment recovery services to industrial, manufacturing, and service facilities around the world.

While the initial impetus 20 years ago for Baker Hughes’ scrap metal recycling was financial in nature, the introduction of Venture Metals provided a level of transparency that met industry standards and provided a greater return for the scrap. Venture Metals’ dedication to environmental principles aligns with Baker Hughes’ goals to minimize the impact of our operations.

“The relationship that has been formed between Baker Hughes and Venture Metals is the definition of a true partnership. Over the many years we have collaborated on significant projects and there has been a foundation of trust, transparency and investment on both sides,” said Venture Metals’ Vice-Chairman of the Board Mark Chazanow. “Together, we have been able to do our part to improve the environment by circular and sustainable recycling while also capturing substantial revenue gain. We look forward to growing the partnership and seeing a bright future ahead together.”

Baker Hughes and Venture Metals are committed to identifying opportunities to continue sustainable scrap recycling programs, with hopes to this year implement similar programs at five key locations across the globe. One Malaysia facility hosted a textile recycling drive, which resulted in over 700 pounds of textile kept out of the trash. Additionally, Venture Metals+ provides Baker Hughes with customized containers to promote the segregation of titanium, stainless steel, Inconel and other recyclable metals safely and efficiently. The materials are then prepared and weighed for supply chain reintroduction.

“Reducing our environmental footprint is a critical focus area for our sustainability strategy as we continue to reduce waste, minimize the resources we use and promote circularity,” said Allyson Anderson Book, chief sustainability officer at Baker Hughes. “Through partners like Venture Metals +, we are minimizing waste and reusing scrap materials as much as possible for more sustainable operations.”

As the global demand for a wide range of raw materials and goods continues to grow, logistics become increasingly complex, as do the associated adverse social, economic and environmental effects of these materials. Waste management, reduction and circularity are some of the simplest ways global organizations can improve product sustainability along the value chain and reduce environmental impact.

About Baker Hughes:
Baker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.

For more information, please contact:

Baker Hughes Media Relations

Adrienne M. Lynch
+1 713-906-8407
adrienne.lynch@bakerhughes.com

Venture Metals +

Vice President of Business Development & Marketing
Kelly Fairchild
469-240-2235
kfairchild@venturemet.com

MELBOURNE, Australia, March 18, 2024 /3BL/ – Black & Veatch, a global leader in critical infrastructure solutions, will study the exploration and extraction of natural hydrogen and helium in Australia.

The development study is an engineering services agreement between Australian-owned natural hydrogen company H2EX Limited, a world leader in exploring naturally occurring hydrogen, and Black & Veatch. The study is part of an Australian Federal Government-funded project led by H2EX.

Natural hydrogen, also known as gold or white hydrogen, refers to hydrogen found in its natural form as a free gas.

“Decarbonisation efforts in the Asia Pacific are a priority for Black & Veatch. This includes extracting natural hydrogen, a potential clean energy source for the region,” said Yatin Premchand, managing director, Strategic Growth, Global Advisory, Black & Veatch.

“Black & Veatch has an 80-year history working with hydrogen and ammonia production in multiple industries. The company developed the first hydrogen power generation conversion project and the first major hydrogen fueling station deployment in the United States. Since then, our experts have continued to deliver reliable innovation and first-of-a-kind solutions across the hydrogen value chain,” added Premchand.

Hydrogen has the potential to reduce and replace reliance on fossil fuels for electricity generation as well as long-duration energy storage, heating, transport, and production of green chemicals and fertilizer. Hydrogen can also be turned into green ammonia, which is produced using 100 percent carbon-free renewable energy.

Helium is used in defence, medicine, manufacturing and energy applications including magnetic resonance imaging (MRI) scanners and fibre optic cable manufacturing.

Black & Veatch will provide two concept designs on H2EX’s exploration license PEL 691 on the Eyre Peninsula in South Australia as part of the development study. One concept design will be for the drilling and completion of an exploration well. The other concept design will be for surface facilities to purify, process and deliver natural hydrogen and helium, including co-production of the resources, if they are found together.

“We are pleased to partner with a technically progressive and experienced global engineering services firm like Black & Veatch. This important development study will help H2EX fast-track our first exploration wells and development scheme. If successful, hydrogen will be a great source of energy for power generation and transport on the Eyre Peninsula,” said Mark Hanna, H2EX CEO & managing director.

“Natural hydrogen will help decarbonise the region, which predominantly uses liquid fuels for energy and transport. Helium is also a high-value and scarce commodity. Recent drilling in South Australia has found high concentrations of helium, too,” added Hanna.

Black & Veatch will analyse gas industry practices related to conventional well drilling and extraction infrastructure and identify key considerations to adapt these practices for natural hydrogen and helium.

The research into extraction solutions will provide a pathway to drill and extract the lowest-cost hydrogen, which could be up to 75 percent more cost-effective than manufacturing hydrogen.

The objective of the study is to unlock first-mover benefits for Australia within an emerging sector globally, as well as create substantial local and export opportunities while retaining the country’s competitive advantage and technical and engineering expertise.

The study is partly funded by Australia’s Federal Department of Science and Innovation through its Cooperative Research Council Projects (CRC-P) Grants Round 14 initiative. The CRC-P grant supports short-term, industry-led research collaborations. The study is estimated to be completed by mid-2024.

The Australian Government is investing more than $500 million (USD 332 million) to support the development of hydrogen hubs in regional Australia. The Regional Hydrogen Hubs programme is part of the government’s $40 billion (USD 26 billion) investment to transform the country into a powerhouse of green energy generation and innovation.

Contact Black & Veatch for more information.

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About Black & Veatch 
Black & Veatch is a 100-percent employee-owned global engineering, procurement, consulting and construction company with a more than 100-year track record of innovation in sustainable infrastructure. Since 1915, we have helped our clients improve the lives of people around the world by addressing the resilience and reliability of our most important infrastructure assets. Follow us on www.bv.com and on social media.

Black & Veatch: Media Contact Information:

EMILY CHIA | +65 6335 6623 P | +65 9875 8907 M | Chialp@bv.com

24-HOUR MEDIA EMAIL | Media@bv.com

About H2EX 
H2EX Limited is a natural hydrogen and helium company. H2EX is searching to find and harvest natural hydrogen and helium on its exploration license PEL 691 (~6,000 sqm kilometers) in South Australia. H2EX continues to develop and undertake first-of-kind research and in-field exploration activities. H2EX has 52,000 square kilometers of additional exploration applications, also in South Australia. Follow us on www.h2ex.com.au and H2EX Ltd: Overview | LinkedIn.

H2EX Limited: Contact Information:

Greschen Brecker | CFO & Director | +61 433 133 417 M | greschen.brecker@h2ex.com.au