take note

3 things to know this week in Houston's energy transition ecosystem

A geothermal startup from Houston made a global list of climate tech companies to watch — and more things to know this week. Photo via Getty Images

Editor's note: It's a new week — start it strong with three quick things to know in Houston's energy transition ecosystem: solar projects makke headlines, Fervo named an energy company to keep an eye on, and more.

Fervo Energy named an energy tech startup to watch

Photo via fervoenergy.com

MIT Technology Review released its list of 15 Climate Tech Companies to Watch this year, and Fervo Energy, a Houston-based, rapidly scaling geothermal energy company made the cut.

"Fervo’s enhanced geothermal approach promises to significantly expand the areas where we could tap into the carbon-free and nearly limitless source of energy beneath our feet. Geothermal offers the added advantage of generating electricity around the clock and calendar, making it an ideal clean source to fill in the gaps as grids increasingly come to rely on fluctuating renewables like solar and wind," reads the writeup on the company.

"It could provide a much cheaper or less controversial way of fixing that fundamental challenge in cleaning up the grid than building giant battery plants or adding nuclear power reactors, respectively," the MIT Technology Review continues.

Fervo, which announced earlier this year that its commercial pilot project has resulted in continuous carbon-free geothermal energy production, has raised $187 million since it was founded in 2017.

The article points to not only the accomplishments of the startup, but also the challenges it faces, including further proving out its technology's "effectively, affordably, and consistently on larger scales."

Events not to miss

People huddled in groups for networking

Photo via Getty Images

Put these upcoming events on your radar.

  • October 10-11 — SPRINT Robotics World Conference and Exhibition will show that many robots are in use and that the industry is accelerating and starting to scale. Learn more.
  • October 11-12 — Hydrogen North America 2023 will showcase the hydrogen economy and provoke thought leadership from the industry's experts. Learn more.
  • October 30-31 — Fuze is a must-attend event for executives, investors, and founders serious about solving the energy crisis and boosting company efficiency. Learn more.

A moment for the solar energy news

Photo via Getty Images

Last week, there was a few big stories across solar energy.

  • Sunnova announced a loan from the DOE for up to $5 billion. Read more.
  • A Houston nonprofit powers its community outreach to Houston's food deserts with mobile solar energy.Read more.
  • BP broke ground on its Texas solar farm that it plans to open next year. Read more.

Trending News

A View From HETI

HYCO1 has signed an agreement to convert 1 million tons per year of raw CO2 into industrial-grade syngas at a new carbon capture project in Malaysia. Photo via Getty Images.

Houston-based CO2 utilization company HYCO1 has signed a memorandum of understanding with Malaysia LNG Sdn. Bhd., a subsidiary of Petronas, for a carbon capture project in Malaysia, which includes potential utilization and conversion of 1 million tons of carbon dioxide per year.

The project will be located in Bintulu in Sarawak, Malaysia, where Malaysia LNG is based, according to a news release. Malaysia LNG will supply HYCO1 with an initial 1 million tons per year of raw CO2 for 20 years starting no later than 2030. The CCU plant is expected to be completed by 2029.

"This is very exciting for all stakeholders, including HYCO1, MLNG, and Petronas, and will benefit all Malaysians," HYCO1 CEO Gregory Carr said in the release. "We approached Petronas and MLNG in the hopes of helping them solve their decarbonization needs, and we feel honored to collaborate with MLNG to meet their Net Zero Carbon Emissions by 2050.”

The project will convert CO2 into industrial-grade syngas (a versatile mixture of carbon monoxide and hydrogen) using HYCO1’s proprietary CUBE Technology. According to the company, its CUBE technology converts nearly 100 percent of CO2 feed at commercial scale.

“Our revolutionary process and catalyst are game changers in decarbonization because not only do we prevent CO2 from being emitted into the atmosphere, but we transform it into highly valuable and usable downstream products,” Carr added in the release.

As part of the MoU, the companies will conduct a feasibility study evaluating design alternatives to produce low-carbon syngas.

The companies say the project is expected to “become one of the largest CO2 utilization projects in history.”

HYCO1 also recently announced that it is providing syngas technology to UBE Corp.'s new EV electrolyte plant in New Orleans. Read more here.

Trending News