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Capital Ventures

ONEOK Capital Ventures is focused on exploring and investing in innovative and emerging technologies that are aligned to our core business, seek to provide solutions for a transforming energy future, reduce environmental impacts and offer strategic and financial return possibilities. We work with other energy companies to support new technologies and may also make direct equity investments in early-stage energy technology companies that are intended to help improve our operations and are aligned with the energy transformation. Potential investments are considered across all aspects of our business, often based on feedback from our operations teams. Recent technologies and initiatives being explored through collaboration, direct investments or investments through venture capital funds include:

Energy Technology Startup Hub Initiative

ONEOK, along with leading energy companies and organizations, has committed funds toward a venture capital fund aimed at transforming Oklahoma into a hub for energy technology startups. The initiative intends to attract energy technology startups to the region through access to resources such as free office space, early-stage capital and services to accelerate innovation to meet growing energy demands and create a future that aligns with evolving energy needs. The initiative is expected to create jobs across the energy industry and fuel forward-looking technologies.

In 2023, the fund invested in a startup company developing a new product aimed at improving and maximizing pipeline throughput. As a strategic investor, ONEOK is working directly with the company to accelerate the development and deployment of the technology. Additional potential benefits of this innovation include lower operating costs, improved reliability, reduced electricity usage and the creation of manufacturing jobs to produce the product.

NGL Recovery System

Natural gas and natural gas liquids (NGLs) produced at the wellhead are typically transported together on gathering pipelines to processing facilities, where NGLs are separated from the dry natural gas. NGL recovery technology, currently being piloted at select sites across our natural gas gathering operations, aims to recover NGLs that would otherwise be combusted in compressor engines and re-inject them into the pipeline before entering a natural gas processing facility. The technology aims to reduce volatile organic compounds (VOCs), provide cleaner compressor fuel, reduce operating and maintenance costs and recover additional NGL revenue.

Orbital Sidekick

ONEOK made a minority direct equity investment and helped test technology for Orbital Sidekick, a company that generates space-based data intelligence using a constellation of satellites equipped with hyperspectral sensors, in combination with onboard artificial intelligence, to monitor assets. Hyperspectral imaging (HIS) is a technology that analyzes a wide spectrum of light reflecting off Earth’s surfaces. Companies could use the information collected to monitor critical infrastructure, minimize emissions and support a lower-carbon future. This technology could also allow companies to scan assets within a day to inspect for damage after a storm.

ONEOK sees multiple potential future application benefits and potential industrywide scalability of Orbital Sidekick’s technology, including potential opportunities for right-of-way monitoring, vegetation management and erosion monitoring.

As of June 2024, five satellites are in orbit and collecting data, with a sixth satellite expected to launch within the year. The HIS satellites capture nearly 500 color bands and allow for chemical fingerprinting that is critical in identifying the location of leaks. Orbital Sidekick can also alert companies to activities near pipelines that may cause leaks, such as digging nearby.

ONEOK is also evaluating environmentally responsible and cost-effective options for self-generation power, including technology that uses waste heat from operations for power supply. Additionally, the potential application of methane slip technology to reduce methane emissions from natural gas compressor engines is also being evaluated.