top honor

8 Houston energy companies land on Time's top greentech list for 2025

Fervo Energy claimed a top 10 spot on Time magazine and Statista’s new list of America’s Top GreenTech Companies of 2025. Photo via Getty Images.

The accolades keep rolling in for Houston-based Fervo Energy, a producer of geothermal power.

Fervo lands at No. 6 on Time magazine and Statista’s new list of America’s Top GreenTech Companies of 2025. The ranking recognizes sustainability-focused companies based on factors such as impact, financial strength, and innovation.

Time notes that Fervo broke ground in 2023 in Utah on what the company claims will be the world’s largest geothermal plant. The plant is scheduled to start supplying carbon-free electricity to the grid next year and to reach its 400-megawatt capacity in three years.

“Technologies like this only make a difference if we deploy them at large-scale in a way that can reduce carbon emissions and increase the reliability of the grid,” Fervo CEO Tim Latimer told Time in 2023.

The startup was named North American Company of the Year by research and consulting firm Cleantech Group for 2025. Fervo topped the Global Cleantech 100, Cleantech Group’s annual list of the world’s most innovative and promising cleantech companies.

Last year, Fervo also made Time’s list of the 200 Best Inventions of 2024. Fervo was recognized in the green energy category for its FervoFlex geothermal power system.

Founded in 2017, Fervo is now a unicorn, meaning its valuation as a private company exceeds $1 billion. The startup’s valuation is estimated at $1.4 billion. According to PitchBook data, the company raised $634 million in the fourth quarter of 2024.

In all, eight Houston-area companies appear among the top 250 greentech companies ranked by Time and Statista. Other than Fervo, they are:

  • No. 43 Lancium Technologies, an energy storage and distribution company
  • No. 50 Solugen, a producer of sustainable chemicals.
  • No. 56 Quaise Energy, which specializes in terawatt-scale geothermal power.
  • No. 129 Plus Power, a developer, owner and operator of battery storage projects.
  • No. 218 Dream Harvest, which promotes sustainable vertical farming.
  • No. 225 Cemvita, which uses synthetic biology to convert carbon emissions into bio-based chemicals.
  • No. 226 Syzygy Plasmonics, which decarbonizes chemical production.
Vermont-based BETA Technologies claimed the No. 1 spot. The company manufactures electric aircraft.

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A View From HETI

Residents in Montgomery, Liberty and Hardin counties can expect to see power grid improvements in the coming years. Photo via Getty Images

Texas Gov. Gregg Abbott announced millions in funding for energy resilience projects around this state this week, with one major project set to impact the greater Houston area.

As part of the Texas Energy Fund's Outside of ERCOT Grant Program, the state announced a roughly $73 million agreement with the Sam Houston Electric Cooperative to replace and upgrade more than 9,000 electric poles and improve other equipment in Montgomery, Liberty and Hardin counties. The agreement is the first for the fund's Outside of ERCOT Grant Program, which supports state projects outside of the state's largest grid.

The multibillion-dollar Texas Energy Fund aims to "finance the construction, maintenance, and modernization of electric facilities across Texas." It was approved by voters in 2023. Other programs within the fund include the:

  • In-ERCOT Generation Loan Program
  • Completion Bonus Grant Program
  • Texas Backup Power Package Program

“The Texas Energy Fund delivers real results for Texans and strengthens the electric systems that families, businesses, and communities depend on,” Abbott said in a news release. “This grant to Sam Houston Electric Cooperative will replace thousands of vulnerable utility poles to better withstand severe weather and ensure a more reliable and resilient grid in East Texas.”

The Houston-area project, nicknamed Steel Anchor, is expected to be completed by June 2031. According to the release from the governor's office, the Sam Houston Electric Cooperative’s territory is one of the most hurricane-prone service areas in the state. The cooperative serves more than 38,000 Texas consumers

“Over the past decade, Sam Houston EC has strategically replaced poles to improve the strength of its electricity distribution system. This grant will boost the Cooperative’s ongoing grid-hardening and resiliency program,” Doug Turk, CEO of the Sam Houston Electric Cooperative, added in the release.

Following the announcement of the Sam Houston funding, Abbott's office also awarded another $200 million from the Outside of ERCOT Grant Program to upgrade approximately 700 miles of power equipment in Northeast Texas. The equipment is operated by Southwestern Electric Power Company, which serves more than 192,000 Texas consumers. The project will include improvements to 200 circuits, replacing aging copper wire with aluminum alloy conductors and replacing existing utility poles.

Additionally, the state announced its seventh Texas Energy Fund loan agreement for a 570 megawatt natural gas power plant in Sherman, Texas. The 20-year loan of up to $411 million is between the Public Utility Commission of Texas and Rayburn Electric Cooperative and is part of the fund's In-ERCOT Generation Loan Program. Rayburn will build the facility near its existing Rayburn Energy Station 1 in the Texoma region. It will connect to the ERCOT North Load Zone.

“When Texas voters overwhelmingly approved the Texas Energy Fund, they gave us a mandate to secure new, reliable power generation for Texas,” PUCT Chairman Thomas Gleeson added in a release. “The TxEF is delivering on that promise, and Rayburn Electric Cooperative’s new 570 MW power plant is proof. We are ensuring Texas families and businesses have power they can depend on for years to come.”

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