SLB CCUS Focus, 100, 000 Ton Plant Commissioned, Shell Partnership, and 1 Key Storage Investment (2025)

SLB 4 Key Partnerships, A Focus on Enabling Hydrogen Infrastructure (2025)

In 2025, SLB crystallized its hydrogen strategy by concentrating on the development and commercialization of critical enabling infrastructure rather than direct hydrogen production. This approach positions the company to de-risk the capital-intensive hydrogen value chain for producers by providing essential services in Carbon Capture, Utilization, and Storage (CCUS) for blue hydrogen and making strategic investments in storage solutions for green hydrogen. This deliberate pivot leverages SLB’s core subsurface and industrial process expertise to capture value from the energy transition without entering the highly competitive and speculative production market.

SLB’s Pivot to CCUS Commercialization

The company’s focus shifted decisively from development to commercial execution in the CCUS sector, a direct enabler for large-scale blue hydrogen. This was marked by the launch of tangible products and the securing of significant commercial agreements that validate its technology at an industrial scale.

• In June 2025, SLB launched its Sequestri Carbon Storage Solutions, an end-to-end platform designed to integrate subsurface analysis, well design, and long-term monitoring to accelerate and de-risk large-scale carbon sequestration projects.
• The company commissioned its first modular carbon capture plant in January 2025, demonstrating an operational capacity of up to 100, 000 metric tons of CO 2 per year and proving the viability of its modular design.
• SLB, through its SLB Capturi division, secured a major Engineering, Procurement, Construction, Installation, and Commissioning (EPCIC) contract with Aker Solutions for the Hafslund Celsio waste-to-energy plant in Oslo, confirming the commercial appeal of its technology.

De-Risking Blue Hydrogen Production

By building out its CCUS service portfolio, SLB is creating the foundational infrastructure necessary for blue hydrogen to become economically viable. The company’s actions in 2025 show a clear strategy to become the go-to technology and service provider for any industrial player looking to produce low-carbon hydrogen from natural gas.

• SLB’s involvement in the Ørsted Kalundborg CO 2 Hub in Denmark highlights its role in creating the shared infrastructure needed for regional industrial decarbonization, which can support future blue hydrogen clusters.
• The strategy contrasts with competitors focused on direct production, instead allowing SLB to serve a broader market of producers by solving the complex and high-risk carbon storage component of their projects. This is a similar de-risking approach seen by other majors like Total Energies, which uses captive demand to secure project economics.

Hydrogen Storage Investment, SLB Leads Immaterial Ltd. Series A 2 Round

SLB’s investment activities in 2025 complemented its near-term focus on blue hydrogen enablement with a calculated, low-capital entry into a critical bottleneck for the future green hydrogen economy: storage and transportation. This dual-track approach balances immediate revenue opportunities with strategic positioning in next-generation technologies.

SLB’s Strategic Investment in Immaterial Ltd.

The company’s lead investment in Immaterial Ltd. signals a clear intent to address the challenges of storing and transporting hydrogen derived from intermittent renewable sources. This move provides SLB with a window into disruptive materials science that could become central to the green hydrogen value chain.

• In October 2025, SLB led the Series A 2 funding round for Immaterial Ltd., a company developing advanced porous materials like metal-organic frameworks (MOFs) for efficient, low-pressure hydrogen storage.
• This technology is particularly critical for green hydrogen applications, as it can help buffer supply from intermittent renewable energy sources like solar and wind, improving the overall reliability and economics of green hydrogen systems.

Acquisition of Champion X for Adjacent Capabilities

While not a direct hydrogen investment, SLB’s acquisition of Champion X provides essential adjacent technologies that support both blue and green hydrogen production processes. This move strengthens its integrated service offering across the entire energy production lifecycle.

• The acquisition, completed in July 2025, enhances SLB’s portfolio with advanced chemical solutions for gas purification in blue hydrogen processes and sophisticated water management technologies essential for electrolysis in green hydrogen production.

Table: SLB Key Investments and Acquisitions (2025)

SLB 3 Major Collaborations, Expanding CCUS and Digital Solutions (2025)

In 2025, SLB aggressively leveraged partnerships to accelerate market entry for its CCUS technologies, integrate digital solutions across complex energy systems, and secure access to technologies enabling green hydrogen production. These collaborations are fundamental to its strategy of acting as an integrator and technology provider rather than a standalone project developer.

Shell and SLB Digital Collaboration

The agreement with Shell is a forward-looking move to build the digital backbone for future energy systems, including hydrogen. It focuses on optimizing the integration of different energy sources and technologies, a critical challenge for scaling low-carbon solutions.

• In December 2025, SLB and Shell entered a strategic collaboration to develop and deploy new digital solutions, with a stated focus on hydrogen and CCUS, aiming to accelerate technology adoption across the industry.

JGC and Aker Solutions Market Expansion

SLB formed critical partnerships to expand the geographic reach and commercial deployment of its CCUS solutions. These alliances combine SLB’s subsurface and technology expertise with the engineering and construction capabilities of established industry players.

• A partnership with JGC Holdings Corporation in October 2025 is designed to expand carbon capture deployment in the high-growth Asia-Pacific and Middle East markets, which are key for future blue hydrogen projects.
• The joint EPCIC contract with Aker Solutions for the Hafslund Celsio project in Norway serves as a powerful commercial proof point for their collaborative delivery model in the European market.

Table: SLB Key Hydrogen-Related Partnerships (2025)

Europe and Asia Focus, SLB’s Geographic Expansion for CCUS

SLB’s geographic strategy in 2025 prioritized regions with strong industrial bases and supportive policy frameworks for decarbonization, establishing commercial beachheads in Europe while preparing for large-scale growth in Asia and the Middle East. This targeted approach allows the company to deploy its CCUS solutions where the demand and economic case are most immediate.

SLB’s Commercial Traction in Europe

Europe served as the primary proving ground for SLB’s commercial CCUS offerings in 2025. The region’s ambitious decarbonization targets and established industrial clusters provided tangible project opportunities that moved SLB’s technology from pilot to operational reality.

• The successful bid for the Hafslund Celsio project in Oslo provides a key commercial reference project for SLB’s modular carbon capture technology in a mature market with stringent environmental regulations.
• SLB’s participation in the Ørsted Kalundborg CO 2 Hub in Denmark positions it within one of Europe’s flagship CCS projects, creating a foundation for supporting a broader network of industrial emitters and potential blue hydrogen producers.

SLB’s Strategic Entry into Asia-Pacific

Recognizing the long-term growth potential in Asia, SLB took concrete steps to establish a presence in the region. This move positions SLB to capture future demand from industrializing economies looking to decarbonize their energy and manufacturing sectors.

• The partnership formed in October 2025 with Japan’s JGC Holdings Corporation is a strategic move to penetrate the Asia-Pacific and Middle Eastern markets, leveraging JGC’s regional project execution expertise and client relationships. This is a common strategy for Western firms entering markets that require deep local integration, similar to what’s seen in the nuclear sector with SMR deployment.

North America Dominates Early Low-Carbon Hydrogen Capacity in 2025
Announced global hydrogen production capacity is forecast to reach 48 Mtpa by 2030, with a significant ramp-up from 2025. Crucially, 2 Mtpa of low-carbon hydrogen capacity in North America is slated for a 2025 Commercial Operation Date (COD), representing over 70% of global low-carbon capacity in that year, indicating a pivotal early market concentration.

Policy-Driven Head Start Positions North America as Hydrogen Hub
North America’s commanding lead in 2025 low-carbon hydrogen capacity signals strong policy effectiveness (e.g., Inflation Reduction Act). This early regional concentration will likely establish critical supply hubs and influence technology standards, making it the primary strategic battleground for initial market penetration and investment in the nascent hydrogen economy.

(Source: Hydrogen Council — via Hydrogen Generation Market Report 2025 – 2030, By technology, Application, Region)

CCUS at Commercial Scale, SLB Validates Its Hydrogen-Enabling Tech

In 2025, SLB achieved a critical milestone by advancing its core hydrogen-enabling technology, CCUS, to a state of commercial readiness and operational deployment. This contrasts with its approach to green hydrogen-related technologies, such as advanced storage, which remain at an earlier, strategic investment stage, reflecting a balanced portfolio of mature and emerging solutions.

SLB’s Sequestri and Modular CCUS Launch

The year was defined by the transition of SLB’s carbon capture and storage solutions from conceptual offerings to tangible, market-ready products and operational assets. This progression provides the market with concrete proof of technological viability and commercial scalability.

• The launch of the integrated Sequestri platform in June 2025provides customers with a full-chain, de-risked solution for carbon storage, moving beyond selling individual components to offering a comprehensive service.
• The successful commissioning of its first modular carbon capture plant, with a capacity of100, 000metric tons per year, demonstrates that SLB can deliver on its promise of standardized, scalable CCUS hardware.

SLB’s Early-Stage Hydrogen Storage Bet

While its CCUS technology matured, SLB maintained exposure to future growth areas through targeted venture investments. The investment inImmaterial Ltd.represents a calculated position in a technology that is still in the research and pilot phase but holds the potential to solve a major future constraint for the green hydrogen economy.

• Unlike the immediate commerciality of its CCUS solutions, the investment in advanced porous materials for hydrogen storage is a long-term play. It gives SLB valuable insight into a technology that could be crucial for managing the intermittency of renewable-powered electrolysis a decade from now.

SWOT Analysis, SLB’s Infrastructure-Led Hydrogen Strategy

SLB’s 2025 activities solidified a strategy that leverages its formidable strengths in subsurface science and industrial technology to build a defensible position in the hydrogen economy’s infrastructure layer. This approach creates significant opportunities but also exposes the company to external market and policy risks beyond its direct control.
Table: SWOT Analysis for SLB’s Hydrogen Infrastructure Strategy

SWOT Category
2021 – 2024
2025 – Today
What Changed / Validated / Resolved

Strengths Deep subsurface expertise and global industrial presence were theoretical advantages for new energy ventures. Leveraged subsurface expertise to launchSequestri; used industrial process knowledge to commercialize modular CCUS plants (100, 000tons/year). The strategy was validated by converting theoretical strengths into commercial products (Sequestri) and securing major contracts (Hafslund Celsio). Weaknesses Limited direct experience in renewable energy value chains like green hydrogen production or electrolyzer technology. Strategy avoids direct H 2 production, instead focusing on enabling tech. Relies on partners likeShellandJGCfor market access and digital integration. The company acknowledged this weakness and structured its strategy around it, focusing on core competencies and using partnerships to fill gaps instead of building them internally. Opportunities Anticipation of global decarbonization policies and growth in the hydrogen market. US 45 V tax credit creates concrete demand for blue hydrogen projects. Partnership withJGCtargets high-growth Asian and Middle Eastern markets. Vague market trends solidified into specific, bankable opportunities driven by policy (45 V) and targeted geographic expansion, making the business case for CCUS more concrete. Threats Risk of being outpaced by pure-play green hydrogen companies; uncertainty over the economic viability of CCUS. Success is now directly tied to the pace of CCUS project approvals and hydrogen infrastructure build-out, which faces bottlenecks. Competition from other energy service firms pivoting to CCUS. The risk shifted from technological uncertainty to execution and market adoption speed. The primary threat is now the slow development of shared infrastructure and policy delays.

SLB’s Next Move, Scaling CCUS and Integrating Shell Partnership Tech

The critical factor for SLB’s hydrogen strategy in the coming year is its ability to translate its newly commercialized CCUS technology and strategic partnerships into a robust pipeline of large-scale projects. The company’s success will depend heavily on external market catalysts, particularly the finalization and implementation of supportive government policies like the US 45 V Clean Hydrogen Production Tax Credit.

• If this happens: The final rules for the 45 V tax credit are favorable to blue hydrogen projects utilizing CCUS. Watch this: SLB announcing its first majorSequestrideployment contract with a North American industrial or energy partner.
• And watch this: The first tangible output from theShellcollaboration, likely a pilot project demonstrating a digital platform for optimizing an integrated energy system that includes hydrogen and carbon capture.
• These could be happening:Immaterial Ltd.**, following its Series A 2 funding, could announce a successful materials science breakthrough or a pilot project with an industrial gas company, validating SLB’s venture investment and strengthening its position in the future green hydrogen storage market.

The questions your competitors are already asking

This report covers one angle of SLB’s commercial trajectory in new energy. The questions that matter most depend on your work.

• competitor carbon capture strategies energy services
• blue hydrogen projects under construction North America
• metal-organic frameworks hydrogen storage commercial viability
• US 45V tax credit final rules blue hydrogen

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