top stories

Texas falls short on clean electricity, Merichem divests tech biz, and more trending Houston energy news

The Lone Star State's clean electricity capacity was found lacking — and more top energy transition news from the week. Photo via Getty Images

Editor's note:Happy Friday — let's talk about the top news of the week, which included M&A moves, funding, and more. Scroll below for some of the top headlines that resonated with EnergyCapital readers on social media and daily newsletter this week.


Houston chemical company divests new tech arm to PE

Merichem Company has created a new business unit that's been acquired by a private equity firm. Photo via Getty Images

A New Orleans-based private equity firm has announced the acquisition of a Houston chemical company's technology business unit, the business announced today.

Black Bay Energy Capital acquired a portion of Merichem Company’s business — including its Merichem Process Technologies and Merichem Catalyst Products, which will collectively be renamed Merichem Technologies. Merichem's caustic services business, which handles spent caustic for beneficial reuse, will be maintained by the company.

Cyndie Fredrick has been promoted to CEO of Merichem Technologies. She previously served as Merichem's senior vice president and general manager of Merichem Process Technologies. She's joined by CFO Rene Campos, Senior Vice President of Technology Jeff Gomach, and Senior Vice President of Catalysts William Rouleau, who are all former managers within Merichem. Continue reading.

Report: Texas has promising capacity for clean electricity, but still falls behind nationally

In Texas only 38 percent of the state’s electricity capacity comes from clean electricity. Photo via Getty Images

In a new report that looked at states with the cleanest electricity across the country, Texas seems to have some room for improvement.

According to the report from SmartAsset, Texas has the most clean energy capacity at 56,405 megawatts, but continues to trail states with similar geographic characteristics in overall clean energy prevalence.

Texas has the largest wind capacity to help generate clean energy with over three times more than Iowa, which is the second-biggest wind power producer. Continue reading.

Decarbonization tech startup with Houston office scores $20M from United, Microsoft, and others

Among Dimensional Energy's funders are Microsoft and United. Photo via dimensionalenergy.com

Climatech company Dimensional Energy, which operates a Houston office, has scooped up $20 million in series A funding.

Founded in 2014, Ithaca, New York-based Dimensional Energy specializes in producing decarbonization technology, sustainable aviation fuel, and carbon emissions-derived fuels and materials. The company also says it’s working toward becoming a certified B Corporation. Businesses that achieve this certification seek to balance purpose and profit. Continue reading.

Houston oil companies offer $382M for drilling rights in Gulf of Mexico in last offshore sale before 2025

Companies including Houston-based Chevron and Hess and BP, each with a Houston presence, offered bids. Photo via Getty Images

Last month, oil companies offered $382 million for drilling rights in the Gulf of Mexico on Wednesday after courts rejected the Biden administration's plans to scale back the sale to protect an endangered whale species.

The auction was the last of several offshore oil and gas lease sales mandated under the 2022 climate law. It comes as President Joe Biden’s Democratic administration tries to navigate between energy companies seeking greater oil and gas production and environmental activists who want to stop new drilling to help combat climate change.

Companies including Houston-based Chevron and Hess and BP, each with a Houston presence, offered bids on more than 300 parcels covering 2,700 square miles (7,000 square kilometers), according to the U.S. Department of Interior's Bureau of Ocean Energy Management. Continue reading.

Houston’s revolutionary energy shift: A personal journey of discovery

"In reflecting upon my journey through Houston’s energy landscape, it’s evident that the city stands on the cusp of a transformative era." Photo via Getty Images

The following was written by Pavan Kumar Medepalli, MBA candidate at UNC Kenan-Flagler Business School.

As I reflect on my past visit to Houston, it’s not the usual sights or activities that linger but the pulse of a city redefining its energy narrative. The vibrant energy, the breakthroughs in innovation, and the spirited conversations with passionate individuals left an indelible mark. To my LinkedIn community, I invite you to join me on this journey into the heart of Houston’s transformative landscape.

Houston, traditionally known as the “Energy Capital of the World,” is now pioneering a new path. My recent trip provided a deep dive into its evolution from a primary energy hub to a beacon of global energy transition. At the forefront of this change are entities like HETI, Ion, Renewable Energy Alliance Houston, and Greentown Labs, each shaping a vibrant ecosystem of innovation.

During my recent three-day trip to Houston, I had the incredible opportunity to immerse myself in some of the city’s most groundbreaking and influential spaces dedicated to energy innovation and sustainability. The experience was nothing short of transformative, and I’m eager to share some of the highlights and personal takeaways from this journey. Continue reading.

Trending News

A View From HETI

Ørsted, which maintains offices in Houston and Austin, just flipped the switch on its 468-megawatt Mockingbird Solar Center in Lamar County, a project that also established a nearby nature preserve. Photo courtesy of Ørsted

The largest solar project in the global portfolio of Danish renewable energy company Ørsted is now supplying power to the Electric Reliability Council of Texas (ERCOT) grid.

Ørsted, which maintains offices in Houston and Austin, just flipped the switch on its 468-megawatt Mockingbird Solar Center in Lamar County, which is northeast of Dallas-Fort Worth and directly south of the Texas-Oklahoma border. The $500 million project can produce enough power for 80,000 homes and businesses.

ERCOT provides power to more than 25 million Texas customers, representing 90 percent of the state’s electric load.

In conjunction with the solar project, Ørsted donated 953 acres to The Nature Conservancy to establish the Smiley Meadow Preserve. This area, adjacent to the Mockingbird facility, protects a tallgrass prairie habitat featuring more than 400 species of grasses and wildflowers. Accounting for land already owned by the conservancy, Smiley Meadow exceeds 1,000 acres.

“Through the power of partnership, Ørsted has helped The Nature Conservancy protect an irreplaceable landscape that might otherwise have been lost to development,” Suzanne Scott, The Nature Conservancy’s Texas state director, says in a news release.

Mockingbird Solar Center is part of Ørsted’s $20 billion investment in U.S. energy generation. With this project now online, Ørsted owns a portfolio of more than six gigawatts of onshore wind, solar, and battery storage projects that either are operating or are being built.

Trending News