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Houston renewables co. acquired by PE, startup secures international win, and more top news

These are the news stories catching the eyes of readers so far in 2024. Photo via Getty Images

Editor's note: We're one week into 2024, and some of the first top headlines that resonated with EnergyCapital readers on social media and daily newsletter include a PE firm acquiring a local company, a new tech showcase for Baker Hughes, and more.

PE firm acquires Houston renewables fuels infrastructure company

Ara Partners announced this week that it has acquired a majority interest in Houston-based USD Clean Fuels. Image via Shutterstock.

Fresh off its $3 billion fund closure, a Houston private equity firm has made its latest acquisition.

Ara Partners announced this week that it has acquired a majority interest in Houston-based USD Clean Fuels, a developer of logistics infrastructure for renewable fuels. The terms of the deal were not disclosed.

"We have high conviction that the green molecules economy – whether it's renewable fuel feedstocks or biofuels – offers disproportionate opportunity for returns and impact," George Yong, partner and co-head of Infrastructure at Ara Partners, says in a news release. Continue reading.

Houston-based startup secures million-dollar prize after global competition

Revterra was selected from among 10 finalists receiving up to $1 million piloting opportunities. Photo via ADNOC

A Houston sustainability startup has secured a major win on a global scale.

Revterra, which produces novel batteries made from recycled steel, has been awarded a million-dollar piloting opportunity by ADNOC following a global competition.

The ADNOC Decarbonization Technology Challenge, in collaboration with AWS, bp, Hub71, and the Net Zero Technology Centre, sought to find emerging climate tech innovations that are ready for scale. Continue reading.

Greentown Labs partners with VC firm on new emissions calculator integration

Greentown Labs has a new tool for evaluating potential members. Photo via Getty Images

If you want to be a member at either Boston-area or Houston location of Greentown Labs, you better have a small carbon footprint.

Leading global venture capital firm Clean Energy Ventures, which funds early-stage climate tech innovations, announced a partnership to offer access to the firm’s Simple Emissions Reduction Calculator (SERC) to Greentown Labs, the largest climate tech incubator in North America that is dually located in Houston and Sommerville, Massachusetts. New members will be required to report their CO2e emissions reduction potential as part of the incubator’s climate impact assessment as part of the Greentown Labs’ application process. Continue reading.

10 Houston energy companies recognized as best workplaces on annual list

Chevron — as well as nine other Houston energy companies — was named a top company by Newsweek. Photo via chevron.com

Newsweek recently recognized the country's top workplaces, and 10 Houston energy businesses made the cut.

The annual America's Greatest Workplaces 2023 list, which originally published in the fall, gave 10 Houston energy companies four stars or above. Continue reading.

Photos: Baker Hughes sets up interactive hub to showcase technology, sustainable energy solutions

The Baker Hughes Technology Showcase permanently displays the company's technology and clean energy solutions. Photo courtesy of Baker Hughes

When not traveling the world and being showcased internationally at various events and opportunities, the technology displays that Baker Hughes constructed to use as demonstrations and sales tools sat mostly in storage collecting dust until their next gig. That didn't sit well with Matt Hartman.

As sales and commercial enablement director, Hartman saw an opportunity for another use for these displays — one that would take them out of far-flung storage facilities.

"I wanted to reduce our storage and carbon footprint there, but I also wanted to make all of these items accessible at all times. And what better place to do it than one of the energy capitals of the world here in Houston," Hartman tells EnergyCapital. Continue reading.

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A View From HETI

Merab Momen, founder of AI CTO Services. Courtesy Photo

Artificial intelligence is now everywhere. It is mentioned in every startup pitch deck, and every corporate roadmap claims to use it. However, many early-stage businesses struggle with the simple question, “What does AI actually mean for my business?”

In a recent podcast episode of EnergyTech Startups, Merab Momen, founder of AI CTO Services and a long time AI practitioner, explains why most founders misunderstand AI, how startups can practically apply it and why Houston is quietly becoming a serious hub for AI-driven innovation.

Filling the AI Leadership Gap

Merab’s career has spanned decades of technology transitions. He worked on neutral networks in the 1990s, constructed computer vision systems long before they were common, and helped install AI solutions inside huge industrial companies. However, he noticed a huge problem when generative AI started to explode into the mainstream-The requirement of a real partner by the founders for AI integration but inability to rely on a full-time CTO and project-based consultants.

“I really needed something which is much more engaging where I can give that partner-level advice to the founders,” he said. By giving firms on-demand access to high-level AI knowledge and expertise, his methodology enables them to analyse tools, steer clear of cost blunders and eventually transition to a permanent technology leader when the time is right.

AI is Older than Most People Think

Despite its recent rise in popularity, AI is nothing new. AI actually began in the 1950s. Merab in his conversation explained how he worked on his first AI project back in the year 1996 that worked perfectly, but the processing power wasn’t just there to make it practical. He continued how he utilized the swarm intelligence models to optimize supply chains, now referred to as MLPOs and data engineering.

From Language Models to Physical World

Much of the public conversation about AI revolves around chatbots and text generation. But Merab sees far greater potential in AI’s interaction with the physical world, especially in industrial settings. He emphasized edge computing and vision language models (VLMs) as significant advances in manufacturing and energy. This physical shift is opening doors for new opportunities for robotics, automated inspections, and industrial safety applications. Merab added that Houston is uniquely positioned for this transition.

Why Houston has an AI Advantage

Silicon Valley may dominate the AI headlines, but Merab believes Houston’s advantage lies beneath the surface. The city doesn’t lag in AI utilization; it just operates in industries where results show differently.

Machine learning isn’t new to Houston’s core industries. Energy companies, manufacturers, logistics providers, and healthcare systems have been using advanced analytics for decades. The difference lies in them innovating in industrial sectors rather than consumer technology.

What’s Next

With the AI CTO Services growing, Merab is working with startups across industries to deploy AI in practical, business-first ways.

He is more interested in assisting founders in finding answers to critical issues than following new trends.

For Houston’s energy and climate tech community, it needs to transform AI enthusiasm into real-world impact.

Listen to the full conversation with Mehrab Momin on the Energy Tech Startups Podcast to learn more.

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Energy Tech Startups Podcast is hosted by Jason Ethier and Nada Ahmed. It delves into Houston's pivotal role in the energy transition, spotlighting entrepreneurs and industry leaders shaping a low-carbon future.


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