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Panel: Houston's access to talent, strong network drives it as a city for scaling energy transition business

At the GHP's Future of Global Energy event, panelists discussed the opportunities for scale in Houston. Photo by Natalie Harms/EnergyCapital

Time is of the essence when it comes to scaling energy transition businesses in Houston — at least that's what a group of panelists agreed on at a recent event from the Greater Houston Partnership.

The GHP's Future of Global Energy event, which took place on October 9, featured a panel entitled, "Epicenter of Energy Innovation for Scale" and was moderated by Barbara Burger, former president of Chevron Technology Ventures and current startup adviser and mentor. Joining Burger was Kristina Lund, president of Pattern Energy; Brooke Vandygriff, COO of HIF Global: and Bud Vos, CEO of MetOx International. All three companies have and plan to continue scaling in Houston.

The conversation covered some of the unique achievements each of the panelists' companies have reached recently, including HIF Global's millions raised to create e-fuels, MetOx's $25 million series B extension, and Pattern Energy's Southern Spirit project scoring $360 million from the Department of Energy to connect Texas's ERCOT to other states.

After covering the momentum each company has right now, Burger asked each of the panelists why Houston makes sense as a place for scaling their energy transition business.

"The U.S. has a great regulatory environment, ERCOT specifically. Texas is in the business of permitting projects," Vandygriff says. "If you take the right steps, you can get your permits. They are very responsive to attracting and recruiting businesses here."

Also attractive is Houston's existing energy workforce. Even when it comes to technology roles, Houston delivers.

"There is great tech talent here," Vos says, pointing out that Bill Gates called Houston the "Silicon Valley of energy" when he was here for CERAWeek. "I think there's an element of that that's very true. There's a lot innovation, there's a lot of creative thinking, and being able to come out of these businesses with huge momentum then go into startups and innovate is a culture change that I think Houston is going through."

The panelists, most of whom are not Houston natives, agreed in a welcoming culture within the business sector.

"I really think that Houston offers great hospitality, and the energy networks here are so strong," Lund says. "You feel the energy of the city."

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A View From HETI

Houston American Energy Corp. has acquired Abundia Global Impact Group, which converts plastic and certified biomass waste into high-quality renewable fuels. Photo via Getty Images.

Renewable energy company Houston American Energy Corp. (NYSE: HUSA) has acquired Abundia Global Impact Group, according to a news release.

Houston American reports that the acquisition will allow it to create a combined company focused on converting waste plastics into high-value, drop-in, low-carbon fuels and chemical products. It plans to move forward with Abundia’s plans for developing large-scale recycling projects, with a new facility previously announced for the Gulf Coast, located in Cedar Port Industrial Park, near the Baytown area of Houston.

New York-based Abundia used its proprietary pyrolysis process to convert plastic and certified biomass waste into high-quality renewable fuels. Its founder, Ed Gillespie, will serve as CEO of the combined company and will join HUSA’s board of directors. Peter Longo, who previously served as HUSA's CEO, will serve as chairman of the board. Lucie Harwood was named CFO and Joseph Gasik will serve as COO.

“The completion of this acquisition represents a pivotal transformation for HUSA,” Longo said in a news release. “Abundia has a commercially ready solution for converting waste into valuable fuels and chemicals, with a backlog of development opportunities utilizing proprietary technologies and key industry partnerships. This transaction gives HUSA shareholders a ready-made platform and project pipeline for future value generation as the fuel and chemical industries accelerate their adoption of low-carbon solutions and sustainable aviation fuel.”

The combined company plans to serve what it estimates is a multi-billion-dollar global demand for renewable fuels, Sustainable Aviation Fuel (SAF) and recycled chemical feedstocks, according to the news release.

“This is a landmark moment for Abundia and a major step forward for the renewable industry,” Gillespie added in the release. “Joining forces with HUSA and entering the public capital markets positions us to accelerate growth, scale our technology and expand our influence within the renewable and recycling industries. I am proud of the hard work and determination of both the AGIG and HUSA teams to finalize this transaction. We look forward to delivering shareholder value and critical technologies to reduce carbon emissions.”

Houston American Energy announced the deal in March. The company also closed a $4.42 million registered direct offering in January.

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