big deal

US Air Force awards Houston geothermal co. $1.9M grant project

Houston startup Sage Geosystems has announced a new $1.9 million deal with the Air Force. Photo via sagegeosystems.com

The Department of the Air Force awarded Houston geothermal company Sage Geosystems Inc. a grant of $1.9 million in a first-of-its kind contract to determine whether a power plant using Geopressured Geothermal Systems is able to generate clean energy “needed for a base to achieve energy resilience,” according to a news release. The Sage facility will be the first GGS facility in the world to generate electricity, and the system will be constructed at an off-site test well in Starr County, Texas.

”We are excited to partner with the U.S. Air Force on this geothermal demonstration project,” CEO of Sage Geosystems Cindy Taff says in a news release. “Next generation geothermal technologies, like Sage Geosystems’ GGS, will be critical in providing energy resiliency at U.S. military installations.”

In addition to the grant, the company will match the grant with an additional $1.9 million for the demonstration project. The collaboration with Sage is one of three geothermal pilot projects the DAF has initiated in regards to next-generation geothermal technologies in 2024.

“We feel this is the launch pad of helping not only the DoD but many other applications throughout global markets,” 147th Civil Engineer Squadron Commander Lt Col Christian Campbell says in the release.

According to the DAF, the possibility of a full-scale project at Ellington Field Joint Air Reserve Base in Houston could usher in a new era of clean power producing plants to help meet the requirements for bases.

“This initial contract is a step forward in the Air Force’s push for energy resilience,” Kirk Phillips, director of the Air Force Office of Energy Assurance, adds in the release. “This project will improve Ellington Field’s ability to maintain operations during electrical grid outages and be completely self-sufficient for their energy needs.”

The GGS process works by repurposing fracking technology to extract thermal energy from below the Earth’s surface.GGS also demonstrates the opportunity for the civilian sector by surpassing the intermittency challenges for solar and wind energy generation. GSS can also work towards minimizing land use, which enables the technology to be used in urban areas without relying on transmission line build outs that can be expensive.

“This project, and the future Department of the Air Force projects that it paves the way for, will help to assure that our national security needs are met by our installations during critical emergencies,” Phillips continues.

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A View From HETI

Houston is tied with Chicago for the second-most Fortune 500 headquarters. Photo via Getty Images

Houston is a giant among U.S. hubs for corporate headquarters.

The 2026 Fortune 500 lists 27 companies based in the Houston area, with many energy companies claiming top spots. Houston ties with Chicago for the second-most Fortune 500 headquarters, preceded only by New York City (53). Dallas-Fort Worth is home to 23 Fortune 500 headquarters.

Texas leads the nation for Fortune 500 headquarters (57), with California in the No. 2 spot and New York at No. 3.

“Texas is the undisputed headquarters of headquarters,” Gov. Greg Abbott said in a news release. “The world’s leading businesses invest with confidence in Texas because of our welcoming business climate, predictable regulatory environment, and skilled and growing workforce. People and businesses are choosing Texas because Texas works.”

The 2026 Fortune 500 ranks the largest U.S. corporations based on revenue in fiscal year 2025.

Here’s a rundown of the 27 Fortune 500 companies based in the Houston area.

  • No. 9 ExxonMobil
  • No. 21 Chevron
  • No. 29 Phillips 66
  • No.55 Sysco
  • No. 75 ConocoPhillips
  • No. 89 Enterprise Products Partners
  • No. 103 Plains GP Holdings
  • No. 133 Hewlett Packard Enterprise
  • No. 149 NRG Energy
  • No. 157 Quanta Services
  • No. 164 Baker Hughes
  • No. 173 Occidental Petroleum
  • No. 179 Waste Management
  • No. 201 EOG Resources
  • No. 204 Group 1 Automotive
  • No. 207 Halliburton
  • No. 223 Cheniere Energy
  • No. 236 Corebridge Financial
  • No. 262 Targa Resources
  • No. 266 Kinder Morgan
  • No. 388 Westlake
  • No. 435 CenterPoint Energy
  • No. 438 APA
  • No. 440 Comfort Systems USA
  • No. 455 NOV
  • No. 488 KBR
  • No. 496 Coterra Energy. Oklahoma City, Oklahoma-based Devon Energy and Houston-based Coterra Energy merged in early May, with the combined company retaining the Devon Energy name and the Houston headquarters.

The Greater Houston Partnership notes the Houston area soon will welcome its 28th Fortune 500 company. Expand Energy (formerly Chesapeake Energy), appearing at No. 362 on the 2026 list, says it’s moving its headquarters from Oklahoma City to Spring this year.

As the natural gas producer prepares to relocate to Texas, it’s hunting for a new leader. Nick Dell’Osso stepped down as president and CEO earlier this year. Board Chairman Michael Wichterich is interim president and CEO.

Dell’Osso became president and CEO of Oklahoma City-based Gulfport Energy effective May 28.

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