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Electric jets plan takeoff in Houston, CenterPoint's new tech platform, and more trending news

Electric jets to take off in Houston — and more trending news. Photo courtesy of Lithium

Editor's note: From a new tech partnership for CenterPoint to electric jets planning takeoff in Houston, these are the top headlines that resonated with EnergyCapital readers on social media and daily newsletter this week.

CenterPoint partners with AI company to help reduce outages, help restoration

Neara’s AI-enabled simulation and analytics platform can help CenterPoint reduce customer outages and accelerate restoration efforts. Photo via Getty Images

CenterPoint Energy announced an agreement with Artificial Intelligence-powered infrastructure modeling platform Neara for engineering-grade simulations and analytics, and to deploy Neara’s AI capabilities across CenterPoint’s Greater Houston service area.

“We are thrilled to collaborate with CenterPoint as they lead the charge in addressing today’s most existential energy challenges,” Robert Brook, senior vice president and managing director of Neara Americas, says in a news release.

Neara’s AI-enabled simulation and analytics platform can help CenterPoint reduce customer outages and accelerate restoration efforts. Continue reading.

World's first fully electric jet to take off in Houston, connect greater metro area

Lilium aims for the first piloted flight of the Lilium Jet to occur early in 2025. Photo via lilium.com

An aircraft that's being touted as the first fully electric jet is taking off from Hobby Airport to serve the greater Houston area.

Lilium Jet, which takes off and lands vertically, is making its United States market debut at Houston-area facilities – Houston Hobby Airport, Conroe North Houston Regional Airport, and The Woodlands Heliport Lilium. Houston-based aircraft brokerage EMCJET will house the Lilium Jet at its Galaxy FBO Houston-area facilities at the airports.

“We are excited to transform Galaxy FBO into a cutting-edge hub for the eVTOL innovation,” Jeremy Gee, CEO of Galaxy FBO, says in a news release. "As the future of electric aviation takes flight, this marks a significant step in making Houston a leader in sustainable and efficient transportation solutions." Continue reading.

Texas billionaire Elon Musk, Houston energy execs named richest in America by Forbes

Elon Musk is the richest person in Austin and in America. Photo by Justin Sullivan/Getty Images

SpaceX and Tesla co-founder Elon Musk has topped Forbes' list as the wealthiest person in America for the third time. Musk is one of seven Austin billionaires who have made the new Forbes 400, a list of the 400 richest people in the United States for 2024.

Forbes estimates Musk's net worth in 2024 as $244 billion, which is $7 billion less than his estimated net worth last year. Musk, 53, is the cofounder of seven companies, including SpaceX, xAI, The Boring Company, among others. He serves as the CEO of Tesla, which is headquartered in Austin.

In 2022, Musk famously acquired Twitter in a $44 billion deal. Continue reading.

DOE doles out $36M to Oxy for carbon capture hubs

Occidental subsidiary 1PointFive received federal funding — and more trending Houston energy transition news. Photo via 1pointfive.com

Two carbon dioxide sequestration hubs being built by a subsidiary of Houston-based Occidental Petroleum have received a total of $36 million in funding from the U.S. Department of Energy.

The two 1PointFive projects that gained federal funding are the Bluebonnet Sequestration Hub, located in the Houston area’s Chambers County, and the Magnolia Sequestration Hub, located in Allen Parish, Louisiana. Continue reading.

California co. announces fully sustainable, hydrogen-powered data center in Houston

The 1-gigawatt site will be constructed at a cost of approximately $8 billion. Photo courtesy ECL

The Houston area will soon be home to what's being lauded as the first fully sustainable 1-gigawatt data center on a 600-acres site east of Houston.

Data center-as-a-service company ECL, headquartered in Mountain View, California, announced its plans to build the ECL TerraSite-TX1. Hardware and cloud service company Lambda will serve as its first tenant. Lambda and other AI leaders will get access to necessary space and power for the next wave zero emission innovations. Continue reading.

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A View From HETI

Chevron plans to launch its first AI data center power project in West Texas in 2027. Photo via Chevron.com

Two of the Houston area’s oil and gas goliaths, Chevron and ExxonMobil, are duking it out in the emerging market for natural gas-powered data centers—centers that would ease the burden on electric grids.

Chevron said it’s negotiating with an unnamed company to supply natural gas-generated power for the data center industry, whose energy consumption is soaring mostly due to AI. The power would come from a 2.5-gigawatt plant that Chevron plans to build in West Texas. The company says the plant could eventually accommodate 5 gigawatts of power generation.

The Chevron plant is expected to come online in 2027. A final decision on investing in the plant will be made next year, Jeff Gustavson, vice president of Chevron’s low-carbon energy business, said at a recent gathering for investors.

“Demand for gas is expected to grow even faster than for oil, including the critical role gas will play [in] providing the energy backbone for data centers and advanced computing,” Gustavson said.

In January, the company’s Chevron USA subsidiary unveiled a partnership with investment firm Engine No. 1 and energy equipment manufacturer GE Vernova to develop large-scale natural gas power plants co-located with data centers.

The plants will feature behind-the-meter energy generation and storage systems on the customer side of the electricity meter, meaning they supply power directly to a customer without being connected to an electric grid. The venture is expected to start delivering power by the end of 2027.

Chevron rival ExxonMobil is focusing on data centers in a slightly different way.

ExxonMobil Chairman and CEO Darren Woods said the company aims to enable the capture of more than 90 percent of emissions from data centers. The company would achieve this by building natural gas plants that incorporate carbon capture and storage technology. These plants would “bring a unique advantage” to the power market for data centers, Woods said.

“In the near to medium term, we are probably the only realistic game in town to accomplish that,” he said during ExxonMobil’s third-quarter earnings call. “I think we can do it pretty effectively.”

Woods said ExxonMobil is in advanced talks with hyperscalers, or large-scale providers of cloud computing services, to equip their data centers with low-carbon energy.

“We will see what gets translated into actual contracts and then into construction,” he said.

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