Nabors currently has a Zacks Rank #2 (Buy). The American multinational company - active across approximately 20 countries - primarily provides land-based and offshore drilling rigs that serve the oil and gas industry. is one of the largest land drilling contractors in the world, conducting oil, gas and geothermal land drilling operations. He also mentioned that the two companies together would target drilling operations where Nabors has already started to combine energy storage solutions with traditional fuel-powered generators to cut down emissions and fuel consumption. The President, CEO and chairman of Nabors, Anthony Petrello, stated that Natron could offer safe, cost-effective battery solutions for various industrial applications. Natron’s supply chain for materials does not need minerals like lithium, cobalt, copper and nickel, and it leverages existing lithium-ion manufacturing units for production.
Natron's batteries, which store sodium ions in electrode materials based on Prussian blue materials, are said to have higher power density and longer service life than other battery technologies. Moreover, NBR is working with Natron for evaluating ways to complement traditional fossil fuel power usage in its own drilling operations with the introduction of sodium-ion batteries. Natron intends to use the financing to fast-track the production of its sodium-based battery technology at its facilities in Michigan. – a California-based company that specializes in manufacturing sodium-based batteries. ( NBR Quick Quote NBR - Free Report) - recently declared that it has invested $7 million in Natron Energy, Inc. The Houston, TX-based American oil and gas drilling contractor - Nabors Industries Ltd.
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