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DOE-backed summit to come to Houston to address carbon management

This fall, Rice University's research hub will host a DOE-backed event focused on carbon management. Photo via Rice/Facebook

Climate change-focused multimedia company Climate Now announced this week that it will partner with the city of Houston and Rice University to host a Carbon Management Community Summit this fall.

The summit, sponsored by the U.S. Department of Energy, will be held at Rice University Bioscience Research Collaborative on November 16 and 17, and will feature interactive workshops and breakout learning sessions, as well as presentations and discussions from excerpts in the field. It will also be broadcasted virtually for those who cannot attend the event in person.

Key topics are set to include:

  • Carbon management technologies
  • The regulatory process for implementation and oversight
  • How to get involved in project development
  • How to minimize and mitigate risks
  • How to ensure that projects benefit local communities and workforce development

The summit will also focus on the DOE's plans to launch the Responsible Carbon Management Initiative, which aims to promote safety and accountability in carbon management projects, according to the department.

"The Department of Energy is committed to supporting carbon management opportunities that build on Houston's current initiatives while also ensuring that communities and other impacted stakeholders are at the center of those efforts,” Brad Crabtree, assistant secretary of Fossil Energy and Carbon Management at the DOE, said in a statement. “Ultimately, communities and stakeholders can become project partners whose ideas and concerns can improve project design and outcomes, and ensure that tangible economic and environmental benefits flow to affected communities.”

The event also aims to bring the community, industry leaders, government officials and educational institutions to the same table.

"“It is our responsibility to develop innovative technologies and practices that will reduce carbon emissions, and as we do this, we also have a responsibility to address environmental injustices and lift up communities that have been historically under-resourced,” Mayor Sylvester Turner added in the statement.

The event, which has registration open online, is free to attend, and a speaker list and agenda are slated to be announced in the coming weeks. Participants can attend one or both days of the event. A Spanish translation will be available onsite and virtually.

The Carbon Management Community Summit marks the second time Rice and the DOE have partnered on an energy innovation event. In July the DOE announced $100 million in funding for its SCALEUP program at an event for more than 100 energy innovators at the university.

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A View From HETI

Fervo Energy is targeting a listing on the Nasdaq exchange. Photo courtesy Fervo Energy

Fervo Energy has officially filed for IPO.

The Houston-based geothermal unicorn filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission on April 17 to list its Class A common stock on the Nasdaq exchange. Fervo intends to be listed under the ticker symbol "FRVO."

The number and price of the shares have not yet been determined, according to a news release from Fervo. J.P. Morgan, BofA Securities, RBC Capital Markets and Barclays are leading the offering.

The highly anticipated filing comes as Fervo readies its flagship Cape Station geothermal project to deliver its first power later this year

"Today, miles-long lines for gasoline have been replaced by lines for electricity. Tech companies compete for megawatts to claim AI market share. Manufacturers jockey for power to strengthen American industry. Utilities demand clean, firm electricity to stabilize the grid," Fervo CEO Tim Latimer shared in the filing. "Fervo is prepared to serve all of these customers. Not with complex, idiosyncratic projects but with a simplified, standardized product capable of delivering around-the-clock, carbon-free power using proven oil and gas technology."

Fervo has been preparing to file for IPO for months. Axios Pro first reported that the company "quietly" filed for an IPO in January and estimated it would be valued between $2 billion and $3 billion.

Fervo also closed $421 million in non-recourse debt financing for the first phase of Cape Station last month and raised a $462 million Series E in December. The company also announced the addition of four heavyweights to its board of directors last week, including Meg Whitman, former CEO of eBay, Hewlett-Packard, and Spring-based HPE.

Fervo reported a net loss of $70.5 million for the 2025 fiscal year in the S-1 filing and a loss of $41.1 million in 2024.

Tracxn.com estimates that Fervo has raised $1.12 billion over 12 funding rounds. The company was founded in 2017 by Latimer and CTO Jack Norbeck.

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