Service Rig Electric Hybrid Conversion

Greenheart has identified an opportunity to reduce CO2 emissions in the Canadian Oil and Gas service rig market. Greenheart has participated in overseas markets where capital equipment acquisitions of full electric service rigs is achievable, something not viable in Canadian operations. Greenheart has identified a step-change that would utilize existing equipment to reduce operating costs and CO2 emissions in the range of 48-55% per rig while all while gaining market share, lowering operating costs, and increasing day rates. Our innovation is a 'drop-in' electric hybrid system that will integrate into existing service rig platforms with minimal modifications.