Houston, Texas – December 8, 2023: Revterra, a Houston-based producer of novel batteries made from recycled steel and SCF Ventures portfolio company, has been awarded a $1 million piloting opportunity with ADNOC as well as development support at the state-of-the-art ADNOC Research and Innovation Center. The award follows a global competition by ADNOC, in collaboration with AWS, bp, Hub71, and the Net Zero Technology Centre, to find emerging climate tech innovations ready for scale.
The ADNOC Decarbonization Technology Challenge drew 650 applicants from across 50 countries. Applicants specialized in innovations including digital applications, carbon capture utilization and storage, new energies, oil and gas emissions reduction and advanced materials for decarbonization, and nature-based solutions.
Musabbeh Al Kaabi, ADNOC Executive Director for Low Carbon Solutions and International Growth said: “ADNOC is leveraging partnerships and innovative climate technologies to accelerate our decarbonization goals and responsibly enable the energy transition. The ADNOC Decarbonization Technology Challenge supports this objective, and we congratulate Revterra for emerging victorious amongst very competitive submissions from around the world. We look forward to working with Revterra to unlock cutting-edge solutions that will enhance efficiencies and continue decarbonizing our operations.”
Patrick Flam, Chief Financial Officer, Revterra, said: “We are thrilled to win this opportunity. At Revterra, we have developed an environmentally friendly battery that doesn’t rely on metals like lithium, nickel, or cobalt. Instead, our 2MW batteries are built using recycled steel and rely on rotational energy storage technology to achieve maximum power with a minimal environmental footprint. I am excited to work with our new partners at ADNOC to further develop our solution and deploy it across ADNOC’s operations.”
Hossam Elbadawy, Managing Director at SCF Ventures, added: “Revterra’s Kinetic Battery enables low-cost, reliable energy storage and power management for a wide range of applications and industries. It is one of the key innovations needed to solve the energy storage challenge. We are excited to see Revterra win this award and look forward to the partnership with ADNOC.”
About Revterra Corporation
Revterra is creating the next generation kinetic battery system, which is modular, cost-effective, environmentally friendly, and highly efficient. Our initial beachhead market application is rapid EV charging, and we intend to move into adjacent energy storage verticals over time. Our system is well suited to enabling DC-Fast charging services in areas with weak or low-power grid infrastructure. Our first product will be a modular 800kW/100kWh base unit, with the option for expanding installations by adding additional modules. We will help enable a future where EV drivers can recharge their cars in 15 minutes or less anywhere, without the need for an overhaul of the existing electric grid.
About SCF Ventures
SCF Ventures, the venture arm of SCF Partners, is focused on providing differentiated capital to emerging high-growth companies that provide new products and technologies to the energy services sector. Founded in 1989, SCF Partners provides equity capital and strategic growth assistance to build leading energy service, equipment, and technology companies that operate throughout the world.