Schlumberger New Energy launches new venture for water electrolysis

June 19, 2020
Owning the Energy Transition
Average importance

At a recent JP Morgan conference, Schlumberger's CEO announced that its New Energy business unit launched Genvia, in partnership with the French Alternative Energies and Atomic Energy Commission (CEA) and Vinci Construction, to commercialize a solid oxide water electrolyzer (SOEC) technology originally developed by CEA. SOEC is at the early stage, and the market is currently monopolized by Sunfire, which announced high-profile partnerships with Total and Neste – however, the potential of the hydrogen economy leaves plenty of room for new entrants. Water electrolysis is key for oil and gas companies to decarbonize their operations, and this new venture will allow Schlumberger to remain an important partner for its clients further downstream.

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