The partnership between Tekfen and Petra includes an unprecedented investment from Tekfen Ventures, as well as a collaboration with Tekfen Construction, the group’s flagship company which has extensive experience and know-how in turnkey projects.
ISTANBUL, June 16, 2022–(BUSINESS WIRE)–Tekfen Holding AS (IST: TKFEN), a leading engineering, contracting and agricultural conglomerate, today announced a partnership and investment in the company Petra, the first company that digs tunnels to bury electric cables using robots capable of drilling the hardest rocks in the world.
Tekfen Construction, the flagship company of Tekfen Holding, is renowned for the construction of large-scale projects, including pipelines, power plants, industrial facilities, highways and railways, oil and gas terminals ( ), tank farms, offshore oil rigs, pumping and compressor stations, stadiums and skyscrapers. Tekfen will use Petra’s unique line burial technology in future construction and expand its commercial energy supply infrastructure offerings. Together, these two entities will use Petra’s technology in the extreme environments where Tekfen Construction operates (European mountains, Middle East deserts and existing deep urban infrastructure throughout EMEA) and explore the new frontiers where Petra now makes possible landfill projects.
Petra has developed technology capable of tunneling essential power lines through previously impenetrable rock, making new projects possible in extreme environments. The company offers engineers, contractors and homeowners peace of mind by arming them with a burial tool that can handle tough rocks and changing ground conditions. Petra’s burial robot is equipped with a remote control system, which increases safety on construction sites.
In the first phase of the partnership, Petra and Tekfen Construction will carry out a 30-meter test tunnel in hard rock in North America, particularly similar to Tekfen Construction’s traditional activity grounds. Tekfen Construction will provide Petra with specifications for its typical pipeline projects and assist in Petra’s development of a trenchless method that can drill in mixed material, hard rock and softer soils. The partnership will focus on the development of projects that uniquely showcase the benefits and capabilities of Petra technology, particularly the possibilities offered in Europe, the Middle East, Africa and CIS countries.
“Petra’s unique tunneling technology will bring multiple benefits to society,” said Mustafa Kopuz, President of Tekfen Construction. “In all the projects we undertake, time is an important component of our responsibilities to our customers. Difficult geographic and geological conditions are critical factors that disrupt our project schedules the most, seriously affecting our costs. Thanks to Petra, we will significantly shorten our drilling times. Beyond the benefits for our projects, we are excited to work with the company to leverage Petra’s unique competitive advantage to pave the way for new business units. »
Petra has created the first remote thermal drilling robot capable of uniquely trenchless digging electrical cable tunnels less than 183 centimeters in diameter in hard rock. This robot can drill utility tunnels in previously impenetrable rocks. Petra customers can quickly bury essential lines for a fraction of the cost of traditional techniques. Conventional microtunneling machines are designed for a single diameter. Conversely, Petra technology is designed to minimize downtime and is capable of drilling a range of diameters between 46 and 183 centimeters, significantly reducing tunneling costs. The drilling unit can return to the entrance at any time during the operation thanks to the carrier tube, which facilitates the maintenance of the system and the rescue of the cutter head.
“The world needs new burial tools that are smart enough to adapt to changing ground conditions, different diameters and a variety of rocks,” said Kim Abrams, CEO of Petra. “Through partnering with Tekfen Holding on some of the world’s largest energy supply projects, many communities will have access to quality infrastructure that will be delivered cost-effectively to more locations around the world.” »
“Tekfen Construction’s success requires staying at the forefront of construction innovation, both in technology and in projects, and Petra embodies a new way of innovating in both areas” , said Sinan Uzan, president of Tekfen Ventures. “With more infrastructure buried safely, we can now consider new uses for reclaimed land above ground, including the preservation of biodiversity and rights of way. Petra’s remote technology promises to lead the wave of innovation in infrastructure construction at Tekfen and beyond. This kind of direct investment in complementary US-based and globally scalable technology represents a new direction for the investment arm, and we look forward to exploring the possibilities of our collaboration. »
Petra is the first robotics company dedicated exclusively to the burial of electrical cables and water and Internet networks. The company is solving one of today’s biggest problems in energy infrastructure: how to affordably bury supply lines and enable trenchless installations in the hardest rocks on the planet. Petra is transforming the landfill economy to make it more accessible to all communities. Call on Petra to bury and protect your critical infrastructure at an affordable price. Visit our site at www.petra.cc
Tekfen Holding is a publicly traded industrial conglomerate headquartered in Istanbul, Turkey. The company operates in many countries with a total workforce of 18,000 employees across 39 companies and 13 subsidiaries, each a leading figure in its own industry. The five main areas of the company are: engineering and contracting, chemical industry, agricultural production, services and investments. The shares of Tekfen Holding are traded on Borsa İstanbul and are listed in the BIST 30 index of this stock exchange.
Tekfen Ventures is the investment arm of Tekfen Holding. The fund focuses on Series A and B investments in technology companies whose unique effect is shaping the future of construction, manufacturing, heavy industry, real estate and agriculture. https://www.tekfenventures.com/
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