Factor Technology

Factor Technology was named Most Promising Energy and Clean Technology Company at the 16th Annual Energy & Clean Technology Venture Forum in Houston this week. The Rice Alliance for Technology and Entrepreneurship hosted the event and more than 90 companies showcased their new offerings at the largest energy venture capital conference in the Southw... est with 650 attendees, including investors, venture capitalists, industry representatives, business leaders, service providers, and entrepreneurs. The two-day event culminated in an announcement of the 10 Most Promising Energy and Clean Technology Companies Award companies chosen from more than 225 startup applicants and judged by the Rice Alliance Energy & Clean Technology industry experts and interest generated from participating investors. Seventy-five investors groups, including nearly all the major energy companies, met with 90 startups at office hours the day before the forum. More than 50 companies presented their business pitch at the forum, with an additional 30 participating in the company showcase. This was the most startups ever to participate in the Energy Forum. Factor Technology was named one of the 10 Most Promising Energy and Clean Technology Venture Companies at the forum. Factor Technology developed Factor Drive, the industry's first automated geosteering advisor. The Factor Drive service leverages a new algorithm based on machine learning technology, and employs high performance computing, to continuously convert downhole measurements into a live picture of the wellbore position and the earth. Wells positioned with Factor Drive can expose more wellbore to the productive zone, avoid sidetracks, and minimize tortuosity for increased production. Founder and CEO of Factor Technology, Hugh Winkler, said: "We are thrilled to be selected as one of the top ten most promising companies. We are proving out our continuous, autonomous geosteering interpretation technology with select operators, and we are pleased to see such a high level of interest in ...Read More