Editor's note: From the Ion naming its energy transition tenants to NRG offloading its renewables arm, these are the top headlines that resonated with EnergyCapital readers on social media and daily newsletter this week.
Houston-based NRG Energy exits renewables group to Texas real estate company
Dallas-based CBRE has acquired NRG's renewable advisory group. Photo via NRG.com
NRG Energy, headquartered in Houston, has sold its renewable advisory group to Dallas-based commercial real estate services powerhouse CBRE. Financial terms weren’t disclosed.
The advisory group, led by Miro Sutton, brokers renewable energy deals, such as community- and utility-scale transactions, and advises clients on handling tax credits for renewable energy projects. The team works primarily with Fortune 500 companies.
Sutton joined CBRE as head of renewables and energy after overseeing the NRG advisory group. The group has arranged deals involving more than 5,000 megawatts of clean power. Continue reading.
Oxy, other hardtech-focused organizations take up leases in Houston innovation hub
Oxy, Fathom Fund, and Activate have new offices inside the Ion. Photo courtesy of the Ion
The Ion in Midtown has some new tenants taking up residence in its 90 percent-leased building.
Occidental Petroleum Corporation, Fathom Fund, and Activate are the latest additions to the Ion, according to a news release from Rice University and the Rice Real Estate Company, which own and operate the 16-acre Ion District where the Ion is located. With the additions, the building has just 10 percent left up for grabs.
“As the Ion continues to attract leading companies and organizations across industries, it’s clear that our vision of creating a dynamic and collaborative environment for innovation is resonating,” Ken Jett, president of the Rice Real Estate Company and vice president of facilities and capital planning at Rice, says in the release. “We are proud to set the standard for how the workplace can evolve to foster the commercialization and growth of transformative technologies that enhance quality of life in our community and beyond.” Continue reading.
New York financial firm partners with Houston O&G co. to turn natural gas into blue hydrogen
The new initiative will take stranded natural gas and turn it into hydrogen. Photo via Getty Images
A new partnership between an energy and sustainability investor and a Houston-based company that focuses on cleaner solutions in the oil and gas industry will look into turning stranded natural gas into blue hydrogen.
New York-based Double Zero Holdings and SJ Environmental announced their new partnership this week in an effort to move forward the energy transition. According to the companies, stranded natural gas — mostly methane — usually remains unused where it is not economically viable to transport. By turning these gasses into into blue hydrogen, "the partnership mitigates methane and CO2 emissions while producing hydrogen—a clean fuel that could revolutionize multiple industries," reads the news release.
The initiative will use existing technologies, which can be reduced to the size of a standard shipping container, per the release. Continue reading.
Here's how Texas ranks as an energy efficient state
The report ranked each state on both its home and auto efficiency. Photo via Getty Images
How energy efficient is the Lone Star State? A new report finds that Texas has some room for improvement in that department.
In its 2024 "Most & Least Energy-Efficient States" report, WalletHub ranks Texas at No. 36 out of the 50 states with a score of 47.5 out of 100 points.
The report ranked each state on both its home and auto efficiency. Texas came in No. 32 for home energy efficiency, which factored in the National Weather Service's annual degree days. Continue reading.
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. Continue reading.