DEPARTMENT OF ENERGY AWARDS FUNDING TO CRITERION ENERGY PARTNERS TO ADVANCE SMALL BUSINESS RESEARCH AND DEVELOPMENT FOR A JUST AND EQUITABLE ENERGY TRANSITION IN BAYTOWN, TEXAS

PRESS RELEASE

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MAY 23, 2022 - The Department of Energy as awarded Criterion Energy Partners one of 259 Grants Totaling $53Million Nationwide to Support Scientific Innovation in Clean Energy Development and Climate Solutions

 

[dateline] -- U.S. Energy Secretary Jennifer Granholm today announced that Criterion Energy Partners will receive funding as part of 259 Department of Energy grants totaling $53 million to 210 small businesses in 38 states. The awards include projects relating to particle accelerators and fusion technology, applied nanoscience, quantum information applications, and dark matter research along with a wide range of other efforts.  

“Supporting small businesses will ensure we are tapping into all of America’s talent to develop clean energy technologies that will help us tackle the climate crisis,” said Steve Binkley, Acting Director of the DOE’s Office of Science. “DOE’s investments will enable these economic engines to optimize and commercialize their breakthroughs, while developing the next generation of science leaders and ensuring U.S. scientific and economic competitiveness that will benefit all Americans.” 

Through the SBIR/STTR program across the federal government, small business powers the U.S. economy and generates thousands of jobs, both directly and indirectly, the DOE notes. DOE Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) awards aim at transforming DOE-supported science and technology breakthroughs into viable products and services. The awards also support the development of specialized technologies and instruments that aid in scientific discovery.  

Criterion Energy Partners plans to use the funds in partnership with the City of Baytown and small business incubator, Bay TechWerx, to research and develop industrial decarbonization technology that has a direct impact on meeting Baytown’s economic development and sustainability objectives.  

“The City of Baytown remains committed to supporting technology that bolsters the economic advancement of our citizens and is socially responsible,” said the City of Baytown’s Community and Economic Development Manager, Bret Gardella. “We are excited to partner with Criterion Energy Partners to accelerate progress in these areas by bringing new renewable energy solutions to Baytown.”

CEO of Bay TechWerx, Rick Harlow commented that, “Bay TechWerx is thrilled to work alongside Criterion Energy Partners in support of its community engagement in Baytown. This partnership provides Baytown's small business ecosystem a leadership role in the energy transition, offering a just and equitable approach that can be replicated in other communities. 

“The management team at Criterion Energy Partners is honored to receive Department of Energy support to advance our unique technology in a way that amplifies our commitment to social responsibility,” said the company’s Co-Founder and CEO, Danny Rehg.

ABOUT CRITERION ENERGY PARTNERS 

Criterion Energy Partners is a next generation energy company that plans to develop distributed energy projects to help customers reduce emissions and improve operating efficiency using heat from the earth. The company's mission is to create a more sustainable future by making geothermal energy projects commercially viable everywhere. For more information on Criterion Energy Partners, visit https://www.criterionep.com.

 

ABOUT BAY TECHWERX

Bay TechWerx is a Government Partner that provides industry trending technologies with a focus on creating jobs in advanced manufacturing and green tech for the purpose of revitalizing communities.  For more information on Bay TechWerx, visit https://www.baytechwerx.com/.

More information about all the projects announced by DOE is available at the following link: https://science.osti.gov/sbir 

Media Contact

Bridget Silva

bridgetsilva@criterionep.com

PRESS RELEASE

Patterson-UTI Announces Strategic Investment in Geothermal Technology Company, Criterion Energy Partners

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MARCH 8, 2022 (NASDAQ:PTEN) today announced a strategic investment in Criterion Energy Partners, Inc., a geothermal energy development company. Criterion plans to use the proceeds from this investment to advance its first of a kind project in Texas and further execute on its technology development roadmap.

Criterion Energy Partners plans to combine existing technology and processes from the drilling of oil and gas wells with proprietary designs to create clean, reliable energy from subsurface heat. Criterion's immediate focus is to deliver direct heat and power to industrial customers in the Texas Gulf Coast, positioning these customers to meet their energy demand and decarbonization goals.

Andy Hendricks, Patterson-UTI's Chief Executive Officer, stated, "We are excited to invest in Criterion, whose innovative business model leverages proven horizontal drilling and completion technologies. We share a common view that geothermal will play an important role in the energy transition, and we look forward to working with Criterion to improve the economics and reliability of geothermal power."

Danny Rehg, Criterion Energy Partners' Co-Founder and CEO, added, "We are extremely pleased to have Patterson-UTI as a partner and see many opportunities to work together going forward. Their business approach and execution excellence align well with our strategy and company culture. The technical capabilities of their super-spec rigs and other technical innovations are critical to driving down costs and delivering competitive economics of next generation geothermal energy developments."

ABOUT PATTERSON-UTI

Patterson-UTI is a leading provider of oilfield services and products to oil and natural gas exploration and production companies in the United States and other select countries, including contract drilling, pressure pumping and directional drilling services. For more information, visit www.patenergy.com.

ABOUT CRITERION ENERGY PARTNERS

Criterion Energy Partners is a geothermal energy company that plans to develop distributed energy projects to help customers reduce emissions and improve operating efficiency using heat from the earth. The company's mission is to create a more sustainable future by making geothermal energy projects commercially viable everywhere. Key to its strategic advantage are Criterion Energy Partners' team of managers, associates, and advisors with extensive experience in Business Development, Finance, Legal, Drilling & Completions, Subsurface Engineering, Geology, Geophysics and Data Science. Criterion Energy Partners touts value creation through its business model and tangible measurements, including (i) Emissions reductions, (ii) Power reliability, (iii) Long term cost stability and (iv) Weather resiliency.

Contact
Mike Drickamer
Vice President, Investor Relations PTEN
(281) 765-7170

CRITERION ENERGY PARTNERS PRESENTS “GEOTHERMAL EVERYWHERE” STRATEGY AT THE 23RD WORLD PETROLEUM CONGRESS

PRESS RELEASE

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DECEMBER 5, 2021 - Criterion Energy Partners Co-Founders, Sean Marshall and Danny Rehg are set to present the company’s strategy for deploying widespread enhanced geothermal systems to a global audience at the 23rd World Petroleum Congress, which takes place December 5-9 at the George R. Brown Convention Center in Houston, Texas.

 

Criterion Energy Partners will take the stage on Wednesday, December 8 at 9:20am in the Innovation Zone sponsored by ConocoPhillips. This inaugural presentation of Criterion Energy Partners at the World Petroleum Congress comes at a pivotal time for the industry, as stakeholders and policymakers worldwide seek strategies for meeting the world’s energy demand while reducing its exposure to carbon emissions.

 

The magnitude of the event is described in its own press release, "The World Petroleum Congress is the world's premier oil and gas forum, and it took significant time and effort to bring it to the United States and Houston. The Congress is expected to attract more than 50 ministers, 700 expert speakers, 1,000 media and 10,000 attendees from around 100 countries. It will also feature the World Petroleum Exhibition in the 50,000 square meter venue in the compact downtown Houston campus.”

 

Presenting sponsors of the event include world renowned firms, Accenture, Baker Hughes, BP, Chevron, ConocoPhillips, ExxonMobil, Halliburton, Hess Corporation, Qatar Petroleum, and Saudi Aramco.

 

ABOUT CRITERION ENERGY PARTNERS

 

Criterion Energy Partners is an exploration and production company developing distributed energy projects to help customers reduce emissions and improve operating efficiency using heat from the earth. The company’s mission is to create a more sustainable future by making geothermal energy projects commercially viable everywhere. Key to its strategic advantage are Criterion Energy Partners’ team of managers, associates, and advisors with extensive experience in Business Development, Finance, Legal, Drilling & Completions, Subsurface Engineering, Geology, Geophysics and Data Science. Criterion Energy Partners touts value creation through its business model and tangible measurements, including (i) Emissions reductions (ii) Power reliability (iii) Long term cost stability, and (iv) Weather resiliency. Criterion Energy Partners participated in the inaugural cohort of the Rice Alliance Clean Energy Accelerator Program and are also partnered with the University of Oklahoma to research and develop new geothermal technologies.

 

For more information, contact:

Bridget Silva             

bridgetsilva@criterionep.com

www.criterionep.com

September 2021

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The Rice Alliance Clean Energy Accelerator culminated in a Demo Day on September 16th from 1 - 4 pm CST. The event showcased the 12 start-ups who participated in the inaugural class, including Criterion Energy Partners. We benefited tremendously from the program and hope YOU were able to join us.

August 2021

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Co-Founder Sean Marshall had the chance to pitch with six other tech focused start-ups. It was a great opportunity to present our vision and business model to an audience of over 100 participants.

July 2021

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Co-Founder Danny Rehg participated in a panel discussion at the Unconventional Resource Technology Conference. The session focused on synergies and know-how that the oilfield can bring in developing the geothermal industry.

June 2021

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We're very excited to have been selected as part of Class 1 for the Rice Alliance Clean Energy Accelerator. Through a robust curriculum, custom mentor relationships and targeted corporate and investor introductions, the 12-week program will prepare us to quickly accelerate our business, launch pilots and fundraise.

May 2021

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We partnered with Xrathus and AAPG to create a geothermal lease evaluation challenge. Upon completion of this challenge, we will be able to determine the commercial prospectivity of our lease for geothermal development.

February 2021

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Criterion Energy Partners participated in the Rice University Lilie Lab Idea Launch, which provided them with valuable feedback as they worked to grow their team and began to form partnerships.

December 2020

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The Co-Founders acquired a lease near an existing hydrothermal field and close to the site of the DOE FORGE project, a dedicated site where engineers are able to develop and test breakthroughs in enhanced geothermal system technologies.

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