Galileo Technologies, a company that deploys a unique technology to capture natural gas from any source and convert it into Liquefied Natural Gas (LNG) on-site, has secured a major cornerstone investment from Helmerich & Payne (H&P), North America’s largest land drilling solutions provider.
Galileo is backed by private equity firm Bluewater.
H&P invested $33 million into the Company in the form of a convertible note. The convertible note bears interest of 5% per annum and is due April 2027. If exercised, the note would convert into common shares of Galileo at an enterprise value of $1.35 billion.
