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Baker Hughes (BKR) Strikes Deal to Buy 15% Stake in Electrochaea
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Baker Hughes (BKR - Free Report) entered an agreement to acquire a 15% stake in Electrochaea as part of efforts to address the ever-growing demand for cleaner fuels. However, the financial details of the transaction were not disclosed.
Electrochaea, which is a cleantech start-up, is developing a process to manufacture a so-called synthetic natural gas (SNG) from carbon dioxide (CO2) and green hydrogen. Notably, SNG, which serves as a substitute for natural gas, is an essential component in energy transition due to its much smaller carbon footprint as compared to petroleum products.
The procedure will be performed through Electrochaea’s bio-methanation process, which is a highly efficient and innovative technology. Importantly, Baker Hughes will be able to improve its already-standing carbon capture and utilization (“CCU”) portfolio with the investment.
The companies will combine their efforts to enhance the industrialization of the technology. They will develop the commercialization of integrated carbon capture and utilization solution, which will enable customers to transform carbon emissions into clean synthetic natural gas.
Baker Hughes will draw from its portfolio of carbon capture technologies to provide integrated solutions designed for specific applications, using both CO2 sources and sources based on the combustion of fossil fuels. Moreover, Electrochaea will produce SNG from green hydrogen and CO2, which will be derived from a variety of sources, including biogas, fermentation with off-gas analysis or captured from single-point emitters.
Recently, Baker Hughes has positioned itself as an energy technology company in an effort to lead the energy transition. The movement involves the strengthening of its carbon capture and decarbonization technology portfolio, similar to its investment in Electrochaea. Notably, the agreement is another step closer to its strategy to position itself for new energy frontiers by investing in innovative technologies and combining them with its proven capabilities.
Company Profile
Headquartered in Houston, TX, Baker Hughes is one of the leading oilfield service providers.
Zacks Rank & Other Stocks to Consider
The company currently carries a Zack Rank #2 (Buy).
Over the past 60 days, the Zacks Consensus Estimate for 2020 earnings for Continental Resources has been raised by 31.1%.
Hess’ 2021 earnings are expected to surge 115.7% year over year.
Enerplus’ 2021 earnings are expected to increase 38.6% year over year.
Bitcoin, Like the Internet Itself, Could Change Everything
Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.
Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.
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Baker Hughes (BKR) Strikes Deal to Buy 15% Stake in Electrochaea
Baker Hughes (BKR - Free Report) entered an agreement to acquire a 15% stake in Electrochaea as part of efforts to address the ever-growing demand for cleaner fuels. However, the financial details of the transaction were not disclosed.
Electrochaea, which is a cleantech start-up, is developing a process to manufacture a so-called synthetic natural gas (SNG) from carbon dioxide (CO2) and green hydrogen. Notably, SNG, which serves as a substitute for natural gas, is an essential component in energy transition due to its much smaller carbon footprint as compared to petroleum products.
The procedure will be performed through Electrochaea’s bio-methanation process, which is a highly efficient and innovative technology. Importantly, Baker Hughes will be able to improve its already-standing carbon capture and utilization (“CCU”) portfolio with the investment.
The companies will combine their efforts to enhance the industrialization of the technology. They will develop the commercialization of integrated carbon capture and utilization solution, which will enable customers to transform carbon emissions into clean synthetic natural gas.
Baker Hughes will draw from its portfolio of carbon capture technologies to provide integrated solutions designed for specific applications, using both CO2 sources and sources based on the combustion of fossil fuels. Moreover, Electrochaea will produce SNG from green hydrogen and CO2, which will be derived from a variety of sources, including biogas, fermentation with off-gas analysis or captured from single-point emitters.
Recently, Baker Hughes has positioned itself as an energy technology company in an effort to lead the energy transition. The movement involves the strengthening of its carbon capture and decarbonization technology portfolio, similar to its investment in Electrochaea. Notably, the agreement is another step closer to its strategy to position itself for new energy frontiers by investing in innovative technologies and combining them with its proven capabilities.
Company Profile
Headquartered in Houston, TX, Baker Hughes is one of the leading oilfield service providers.
Zacks Rank & Other Stocks to Consider
The company currently carries a Zack Rank #2 (Buy).
Some other top-ranked players in the energy space are Continental Resources, Inc. and Hess Corporation (HES - Free Report) , each currently sporting a Zacks Rank #1 (Strong Buy), and Enerplus Corporation (ERF - Free Report) , carrying a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Over the past 60 days, the Zacks Consensus Estimate for 2020 earnings for Continental Resources has been raised by 31.1%.
Hess’ 2021 earnings are expected to surge 115.7% year over year.
Enerplus’ 2021 earnings are expected to increase 38.6% year over year.
Bitcoin, Like the Internet Itself, Could Change Everything
Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.
Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.
See 3 crypto-related stocks now >>