Nabors issues statement regarding combination agreement with e2Companies

Nabors Industries (NBR) issued a statement regarding the entry into a business combination agreement between the special purpose acquisition company Nabors formed in 2023, Nabors Energy Transition II (NETD), and e2Companies. Power solutions supplying backup power, e2 provides a full solution including: Isolated grid power; the ability to run prime power or in sync with public utility with continuous power conditioning and uninterruptable supply; instantaneous load shifting between the grid and multi-source local power; AI-based cost optimization regulating power draws from the grid at peak pricing times; and the ability to supply the grid with power on demand, offering further cost optimization. Most importantly, e2’s solutions can function behind-the-meter without requiring a grid connection interconnect agreement. This feature enables mission-critical industries – such as data centers, manufacturing, oil and gas, and healthcare – to benefit from reliable, on-site power generation and storage. Whether used as primary power or in sync with public utility, these solutions deliver significant cost savings and emissions reductions.