fresh funding

Houston energy company makes contribution to coastal region conservation

The Baker Hughes Foundation has again made a contribution to a nature organization.

The philanthropic arm to energy company Baker Hughes announced a $100,000 donation to the Coastal Prairie Conservancy. The grant will go toward supporting the preservation of coastal prairies, wetlands, farms, and ranches in Texas.

“Thriving natural ecosystems are essential for maintaining rich biodiversity, and we are committed to conserve and protect our natural resources,” Allyson Book, chief sustainability officer at Baker Hughes, says in a news release. “Coastal Prairie Conservancy preserves and safeguards the ecosystems in the Greater Houston area, and we are proud to partner with them.”

The grant was announced last week at the company's new headquarters grand opening.

The Coastal Prairie Conservancy is a nonprofit land trust that's work plays a big role in flood control, cleaner air and water, recreation, and wildlife habitat preservation.

“We are so grateful for this generous donation and meaningful partnership with the Baker Hughes Foundation. Not only will this funding allow the Coastal Prairie Conservancy to safeguard plants and animals and provide healthy grasslands and wetlands as homes, it also benefits people,” Coastal Prairie Conservancy President and CEO Mary Anne Piacentini says in the release. “Coastal prairie conservation and enhancement provide the public with access to nature, enhanced health and wellness, regional flood control, increased carbon capture, improved water quality, and climate resilience. We are proud to partner with the Baker Hughes Foundation to ensure healthy lands, healthy wildlife and healthy communities.”

In recent years, the Baker Hughes Foundation has contributed a combined total of $150,000 in habitat restoration support within the Texas Gulf Coast region. Earlier this year, the organization distributed funding to tree planting efforts, DEI hiring initiatives, and the University of Houston's Energy Transition Institute.

Trending News

A View From HETI

PitchBook attributes $634 million in fourth-quarter VC to Fervo. Photo via Getty Images

The venture capital haul for Houston-area startups jumped 23 percent from 2023 to 2024, according to the latest PitchBook-NVCA Venture Monitor.

The fundraising total for startups in the region climbed from $1.49 billion in 2023 to $1.83 billion in 2024, PitchBook-NVCA Venture Monitor data shows.

Roughly half of the 2024 sum, $914.3 million, came in the fourth quarter. By comparison, Houston-area startups collected $291.3 million in VC during the fourth quarter of 2023.

Among the Houston-area startups contributing to the impressive VC total in the fourth quarter of 2024 was geothermal energy startup Fervo Energy. PitchBook attributes $634 million in fourth-quarter VC to Fervo, with fulfillment services company Cart.com at $50 million, and chemical manufacturing platform Mstack and superconducting wire manufacturer MetOx International at $40 million each.

Across the country, VC deals total $209 billion in 2024, compared with $162.2 billion in 2023. Nearly half (46 percent) of all VC funding in North America last year went to AI startups, PitchBook says. PitchBook’s lead VC analyst for the U.S., Kyle Stanford, says that AI “continues to be the story of the market.”

PitchBook forecasts a “moderately positive” 2025 for venture capital in the U.S.

“That does not mean that challenges are gone. Flat and down rounds will likely continue at higher paces than the market is accustomed to. More companies will likely shut down or fall out of the venture funding cycle,” says PitchBook. “However, both of those expectations are holdovers from 2021.”

--

This story originally appeared on our sister site, InnovationMap.com.

Trending News