SLB, Liberty Energy to Form Strategic Alliance for Data Center Infrastructure and Power

Global energy technology company SLB (NYSE: SLB) today announced an agreement with Liberty Energy Inc. (NYSE: LBRT) to form a strategic alliance that will deliver modular infrastructure and integrated power generation solutions for new data center projects globally.

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The collaboration will bring together complementary expertise in modular infrastructure, power generation and operations to support the rapid deployment of new data center capacity and help the world’s leading AI companies address increasingly complex energy requirements.

The growth of AI and high-performance computing is driving unprecedented demand for data center capacity. As developers work to add new compute capacity, many are seeking behind-the-meter power solutions that can be deployed independently of traditional grid connections, while also improving reliability, efficiency and flexibility as power needs grow.

“The bottleneck in AI infrastructure is no longer just compute. It is the ability to deliver infrastructure and power on the timelines the market now demands,” said Gavin Rennick, president of SLB’s New Energy and Industrial business. “By bringing together complementary infrastructure and power capabilities, we will help developers accelerate deployment of new data center capacity.”

Under the planned alliance, SLB will provide modular infrastructure solutions, project execution capabilities and global market reach, while Liberty will provide modular power generation systems, behind-the-meter intelligent power controls and operational expertise.

“The scale and complexity of AI energy infrastructure is fundamentally changing how power systems are built and deployed,” said Ron Gusek, chief executive officer of Liberty Energy. “Liberty’s comprehensive power service platform is engineered to meet this transition, as customers increasingly prioritize tailored, integrated solutions. Building on our long-standing relationship with SLB, we are excited to bring power solutions that address immediate capacity constraints while supporting the next generation of energy systems.”

In addition to delivering infrastructure and power solutions, the companies plan to collaborate on technologies aimed at improving the efficiency, flexibility and environmental performance of future data center energy systems, including hybrid power systems, digital energy management and advanced power architectures.

Since April 2024, SLB has shipped more than 1.3 gigawatts of prefabricated modular infrastructure for data center projects and expects cumulative deliveries to exceed 2 gigawatts globally by year-end. Liberty plans to deploy approximately 3 gigawatts of power projects by 2029.

Key Points:

• SLB and Liberty Energy announced an agreement to form a strategic alliance to deliver modular infrastructure solutions and integrated power generation for data center projects globally.
• The planned alliance will combine SLB’s modular data center infrastructure solutions and project execution expertise with Liberty’s modular power generation and intelligent behind-the-meter power management capabilities to support growing demand for AI and high-performance computing infrastructure.
• As developers seek to bring new compute capacity online, the planned alliance is designed to address increasing demand for behind-the-meter power solutions that can be deployed independently of traditional grid connection timelines.
• The companies also plan to collaborate on future technology initiatives focused on hybrid power systems, digital energy management and advanced power architectures to support evolving data center energy requirements.

About SLB

SLB (NYSE: SLB) is a global technology company that has driven energy innovation for 100 years. With a global footprint in more than 100 countries and employees representing almost twice as many nationalities, we work each day on innovating oil and gas, delivering digital at scale, decarbonizing industries, and developing and scaling new energy systems that accelerate the energy transition. Find out more at slb.com.

About Liberty Energy

Liberty Energy Inc. (NYSE: LBRT) is a leading energy services company. Liberty is one of the largest providers of completion services and technologies to onshore oil, natural gas, and enhanced geothermal energy producers in North America. Liberty also owns and operates Liberty Power Innovations LLC, providing advanced distributed power and energy storage solutions, supported by strategic relationships across advanced nuclear, enhanced geothermal, and battery energy storage systems, serving the commercial and industrial, data center, energy, and mining industries. Liberty was founded in 2011 with a relentless focus on value creation through a culture of innovation and excellence and the development of next generation technology. Liberty is headquartered in Denver, Colorado. For more information, please visit www.libertyenergy.com and libertypowerinnovations.com, or contact Investor Relations at IR@libertyenergy.com.

Cautionary Statement Regarding Forward-Looking Statements:

This press release contains “forward-looking statements” within the meaning of the U.S. federal securities laws — that is, statements about the future, not about past events. Such statements often contain words such as “plan”, “expect,” “may,” “can,” “estimate,” “intend,” “anticipate,” “will,” “potential,” “projected" and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as forecasts or expectations regarding the deployment of, or anticipated benefits of, SLB’s or Liberty’s new technologies, alliances and partnerships; forecasts or expectations regarding demand for data center capacity; and improvements in operating procedures and technology. These statements are subject to risks and uncertainties, including, but not limited to, the inability to recognize intended benefits of SLB’s or Liberty’s strategies, initiatives or partnerships; and other risks and uncertainties detailed in SLB’s or Liberty’s most recent Forms 10-K, 10-Q and 8-K filed with or furnished to the U.S. Securities and Exchange Commission. If one or more of these or other risks or uncertainties materialize (or the consequences of such a development changes), or should underlying assumptions prove incorrect, actual outcomes may vary materially from those reflected in our forward-looking statements. The forward-looking statements speak only as of the date of this press release, and SLB and Liberty disclaim any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.

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