Blacksburg, VA -- Luna Innovations announces Baker Hughes Incorporated,
a leading oilfield services provider, has acquired Luna Energy, a Luna
Innovations' start-up focusing on development and commercialization
of sensors for the oil and gas industry. The Luna Energy/Baker Hughes joint
venture began in February 2002 with a mission to develop leading edge fiber
optic technology solutions for wellbore monitoring that will improve operations
and enhance oil production.
Luna Energy will continue its operations in Blacksburg. Terms of the agreement
are undisclosed.
About Baker Hughes
Baker Hughes Incorporated is
a leading provider of drilling, formation evaluation, completion and
production products and services to the worldwide oil and gas industry.
About Luna Innovations
Luna Innovations is inventing,
building and commercializing innovative ideas that are improving life through
practical applications of technologies. Core technologies of the company
reside in fiber optic, ultrasonic, and wireless sensing, integrated systems
and advanced materials. Luna identifies market opportunities, develops
unique technologies and provides the creative environment to fully develop
their potential. Company focuses within the Luna Group of businesses include
manufacturing process control, novel nanomaterials, next-generation cancer
drug development, analytical instrumentation, advanced petroleum monitoring
systems and wireless remote asset management.
Contact:
Karin Clark, Director of Marketing and Communications
Email:
Karin Clark
Phone: 1.540.552.5128