Odessa, Texas—(February 13, 2024)—The Permian Energy Development Lab (PEDL) has signed separate memoranda of understanding with SOLARCYCLE, a solar panel recycling company, and ER Operating Company, the oil and gas division of the Dallas, Texas-based Roosevelt Family Office, known for its pioneering work to reduce carbon emissions and increase oil and gas well productivity.

The two agreements mark an important step to PEDL’s goal of advanced energy innovation that creates value for Permian communities and the U.S. economy.

A first joint effort in the works

Central to both agreements is the planned development of a test facility in Yoakum County, Texas for various advanced energy technologies. These include solar power, carbon net-negative oil production, carbon capture utilization and storage, low-carbon hydrogen production, treatment of produced water and agrivoltaics.

The PEDL project will be designed to demonstrate how these different technologies can be integrated into coherent carbon net-negative energy systems. The project has the potential to be a breakthrough approach that would help to further distinguish the Permian as a center of energy innovation and advance larger decarbonization objectives.

The Yoakum County project is also an example of PEDL’s commitment to collaboration. The 320-acre parcel of land is owned by the ER Operating Company, making it a vital partner. SOLARCYCLE will provide solar panels to extend the use of solar cells and provide electric power for produced water treatment technology, hydrogen production, and agrivoltaics.

“By providing land assets and expertise, we are bringing together vision, technical expertise, and opportunity, all with a goal of accelerating the development of advanced energy,” said Marilu Hastings of the Permian Energy Development Lab. “Energy transitions are complex and take many decades. With patience, innovative thinking, and partnerships like these, we hope to make significant contributions to the advancement of the cleaner energy future right here in the Permian.”

“Since 2022, SOLARCYCLE has called Odessa our home as an advanced solar recycling company. Through our ongoing partnership with the Permian Energy Development Lab and with this new agreement, we are grateful to help the region tackle key challenges in the energy industry and deliver cutting-edge solutions in the energy transition,” said Suvi Sharma, CEO and Co-Founder of SOLARCYCLE.

“We’re excited to work with PEDL. The private sector can’t do this alone. When the business, nonprofit research and philanthropic sectors and the community come together like this, the opportunities widen for everyone involved,” said Elliott “Tony” Roosevelt, Jr. “The research moves with greater urgency and clarity and new businesses rise to the surface. Our partnership is greater than the sum of the parts. Together we’ll work to accelerate the growth of the advanced energy economy in the Permian.”

The Permian Energy Development Lab (PEDL) is a project launched and incubated by the Cynthia and George Mitchell Foundation. CGMF established the Mitchell Innovation Lab in 2020 to focus on emerging issues and develop a portfolio of breakthrough sustainability ideas and opportunity areas to develop, seed, and incubate. PEDL is the Mitchell Innovation Lab's first initiative.