Verdande Energy AS was formed in September 2011 as a subsidiary of Verdande Technology AS following a minority equity investment by Baker Hughes, Inc. Under terms of this agreement, Baker Hughes becomes a user of Verdande Technology’s Case-Based Reasoning (CBR) platform for oil and gas applications and will be involved in further developing the capabilities. The CBR software and services, including the DrillEdge™ technology can be jointly marketed and operated through Baker Hughes’ global sales and distribution network.

Verdande Energy AS remains privately funded by the founders and employees, along with Baker Hughes, Inc.