(POD)CAST OF CHARACTERS

Friday Feature: Hear from the ladies leading EnergyCapitalHTX.com

Hear from the leading ladies behind the latest endeavor at Gow Media. Photo courtesy of The Green Insider

With the initial launch of EnergyCapitalHTX behind us, please turn your attention to the ECHTX Friday Feature–a rotating content share of intelligent and interesting podcasts covering relevant topics and people initiating transition across the energy industry.

Mike Nemer and Greg Frank, hosts of The Green Insider, graciously shared with ECHTX a recent episode to kick off the series.

In this shameless plug, listen in as Lindsey Ferrell, editor of ECHTX, and Misti Pace-Krahl, vice president of business development, discuss the details of the newest website for all things Energy Transition brought to you by Gow Media. Like its sister sites, CultureMap and InnovationMap, subscribers to ECHTX can expect to stay informed of the latest news, trends, and topics of interest across the energy industry.

The premiere sponsors of the ECHTX site, Greater Houston Partnership and Houston Energy Transition Initiative, known as HETI, support the site’s mission to connect the incumbent energy industry with cleaner and greener energy programs on a global level.

Be sure to subscribe for regular updates of how the world is leveraging the industry expertise, talented leadership, existing infrastructure, and established financiers of Houston to accelerate global transition to an energy abundant, low-carbon future.

Hear the entire episode below.


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A View From HETI

Fervo Energy scored a $244 million round of funding thanks to existing and new investors. Photo via Fervo Energy

An Oklahoma-based shale oil and gas leader has backed Fervo Energy's latest round of funding, supporting the startup's geothermal technology yet again.

Fervo announced its latest round of funding this week to the tune of $244 million. The round was led by Devon Energy, a company that's previously backed the startup.

“Demand for around-the-clock clean energy has never been higher, and next-generation geothermal is uniquely positioned to meet this demand,” Tim Latimer, Fervo CEO and co-founder, says in a news release. “Our technology is fully derisked, our pricing is already competitive, and our resource pipeline is vast. This investment enables Fervo to continue to position geothermal at the heart of 24/7 carbon-free energy production.”

Founded in 2017, Fervo provides carbon-free energy through development of next-generation geothermal power. The company has recently reported its success at its Cape Station project, a400 MW project in Beaver County, Utah, as well as at its full-scale commercial pilot, Project Red, in northern Nevada and made possible through a 2021 partnership with Google.

Galvanize Climate Solutions, John Arnold, Liberty Mutual Investments, Marunouchi Innovation Partners, Mercuria, and Mitsubishi Heavy Industries also contributed to the round with existing investors Capricorn’s Technology Impact Fund, Congruent Ventures, DCVC, Elemental Excelerator, Helmerich & Payne, and Impact Science Ventures.

“The energy trilemma is one of the defining global challenges of our time; how can we generate power that is affordable, reliable, and clean,” Houstonian John Arnold, founder of Centaurus Capital and co-chair of Arnold Ventures, says in the release. “Fervo has transformed geothermal into a scalable carbon-free resource ready to meet the moment.”

The fresh funding, according to the company, will go toward Fervo’s work in Cape Station, that is slated to begin delivering clean electricity to the grid in 2026.

“Fervo’s approach to geothermal development leverages leading-edge subsurface, drilling, and completions expertise and techniques Devon has been honing for decades,” David Harris, chief corporate development officer and executive vice president at Devon, says in the release. “We look forward to deepening our partnership with Fervo to capture the full value of Fervo’s first-mover advantage in geothermal and the adjacencies to Devon’s core business.”

In 2022, Fervo raised a $138 million series C round to support the completion of power plants in Nevada and Utah and evaluate new projects in California, Idaho, Oregon, Colorado, and New Mexico, as well as in other countries. This latest investment brings the company's total funds raised to $431 million since its inception in 2017, according to Crunchbase.

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