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ExxonMobil, Intel eye sustainable solutions within data center innovation

ExxonMobil and Intel are working to design, test, research and develop new liquid cooling technologies to optimize data center performance and help customers meet their sustainability goals. Photo via Getty Images

Two multinational corporations have announced a new collaboration to create energy-efficient and sustainable solutions for data centers as the market experiences significant growth.

ExxonMobil and Intel are working to design, test, research and develop new liquid cooling technologies to optimize data center performance and help customers meet their sustainability goals. Liquid cooling solutions serve as an alternative to traditional air-cooling methods in data centers.

“Our partnership with ExxonMobil to co-develop turnkey solutions for liquid cooling will enable significant energy and water savings for data center and network deployments,” said Jen Huffstetler, Chief Product Sustainability Officer, Intel.

According to consulting firm McKinsey, “a hyperscaler’s data center can use as much power as 80,000 households do,” and that demand is expected to keep surging. Power consumption by the U.S. data center market is forecasted “to reach 35 gigawatts (GW) by 2030, up from 17 GW in 2022,” according to a McKinsey analysis. Artificial intelligence and machine learning, and other advanced computing techniques are increasing computational workloads, and in return, increasing electricity demand. Therefore, companies are searching for solutions to support this growth.

ExxonMobil launched its full portfolio of data center immersion fluid products last year. The partnership with Intel will allow them to further advance their efforts in this market.

“By integrating ExxonMobil’s proven expertise in liquid cooling technologies with Intel’s long legacy of industry leadership in world-changing computing technologies, together we will further the industry’s adoption and acceptance as it transitions to liquid cooling technologies,” said Sarah Horne, Vice President, ExxonMobil.

Learn more about this collaboration here.

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This article originally ran on the Greater Houston Partnership's Houston Energy Transition Initiative blog. HETI exists to support Houston's future as an energy leader. For more information about the Houston Energy Transition Initiative, EnergyCapitalHTX's presenting sponsor, visit htxenergytransition.org.

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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.”

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

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