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Looking back at top stories, trends from COP28 and more trending Houston energy news

Here are the top stories for the week within Houston energy transition news. Photo via Pexels

Editor's note: It's the last news week of 2023 for energy transition in Houston, and some of this week's headlines resonated with EnergyCapital readers on social media and daily newsletter. Trending news included the closing of a SPAC deal, thoughts from COP28, and more.

3 takeaways from COP28 from Houston biotech, sustainability founder

Fresh from COP28, Houston innovator Moji Karimi shared his biggest observations from the event. Photo courtesy of Digital Wildcatters

Before he even had a chance to recover from the jetlag, Moji Karimi was thinking about his biggest takeaways from 2023 United Nations Climate Change Conference or Conference of the Parties, more commonly known as COP28.

Karimi, CEO and co-founder of Cemvita, a biotech company with sustainable solutions for the energy transition, joined the Houston Innovators Podcast this week to discuss what his biggest takeaways were.

"It was a pretty amazing experience," Karimi says, comparing the event to how CERAWeek has evolved to really have a strong presence in its innovation-focused track called Agora. "This year you had a massive section for innovation and sustainability. I think that will become a theme in COP29 and beyond to bring entrepreneurs, investors, and more participating in the event." Read more.

Texas company lines up hundreds electric-hybrid planes for takeoff

Behold the future JSX Aura Aero Era 19-seat hybrid-electric aircraft. Rendering courtesy of JSX

Hop-on jet service JSX is soaring into a more eco-friendly future with plans to acquire more than 300 hybrid-electric airplanes.

The Dallas-based air carrier revealed in a release that they'll add up to 332 small hybrid planes in 2028, allowing them to connect to smaller, underserved communities around the country.

"Following the Biden Administration’s call last week for the aviation industry to cut carbon emissions ... JSX expects to take delivery of its first hybrid-electric aircraft in 2028, shepherding the next chapter of regional aviation as the first in its category to adopt this impactful cutting-edge renewable energy technology," JSX says in the release. Read more.

Big deals: Most trending M&A, transaction news from Houston's energy transition in 2023

Acquisitions, joint venture deals, offtake agreements — here's what news of energy transition deals in Houston trended this year. Photo via Getty Images

Editor's note: As the year comes to a close, EnergyCapital is looking back at the year's top stories in Houston energy transition. From acquisitions to offtake agreements, this year marked a big one for some of Houston's energy transition companies. Here were the top five most-read articles covering deals of 2023. Read more.

LYB buys in on plastics recycling co., a podcast to stream, and more to know this week

Looking back at top energy transition news from the year, a podcast to stream, and more of what to know going into the last week of 2023. Photo via Getty Images

Editor's note: It's a new week — start it strong with three quick things to catch up on in Houston's energy transition: looking back on top news from 2023, a podcast to stream, and more. Read more.

Houston-area high-tech monitoring device co. IPOs with close of SPAC deal

A deal that's been a year in the making has officially closed. Photo via infraredcameras.com

A special purpose acquisition company has sealed the deal on its acquisition of a company with thermal imaging and sensing platform technology.

SportsMap Tech Acquisition Corp. (NASDAQ: SMAP) announced the close of its acquisition of Beaumont-based Infrared Cameras Holdings Inc. (ICI), which will be the name of the combined company. The new ticker symbol for the combined company’s common stock and public warrants will be ticker symbols “MSAI” and “MSAIW,” respectively.

“The close of the business combination represents a monumental milestone for our company, as we view the business to be well-suited for the public market," Infrared Cameras’ CEO Gary Strahan says in a news release. Strahan and his executive team will continue to lead the company. Read more.

Trending News

A View From HETI

MetOx has named where its new facility will be going. Photo via metoxtech.com

Houston-based manufacturer of high-temperature superconducting wires MetOx International Inc. will build a major production facility in Chatham County, North Carolina, which is expected to create 333 jobs, and invest $193.7 million in the state.

MetOx is a leader in High Temperature Superconducting technology (HTS), which is an advanced power delivery technology that is capable of transmitting extremely high power at low voltage with zero heat generation or energy loss. The technology is assisting in the energy sectors like power transmission, distribution, and grid expansion.

“Establishing our new large-scale manufacturing facility in Chatham County is a pivotal step toward securing a reliable, domestic supply of HTS wire for the development of critical infrastructure in the United States,” Bud Vos, CEO of MetOx, says in a news release. “This facility will not only deliver transformative energy technologies that strengthen our grid and reduce carbon emissions but also create high-paying manufacturing jobs in a community eager to lead in innovation. We are proud to partner with North Carolina to drive forward a resilient energy future built on cutting-edge science and strong local collaboration.”

The new facility is funded in part by an $80 million investment from the United States Department of Energy, which the company announced in October. In September, the company closed $25 million in a series B extension round.

MetOx also announced last month that received an undisclosed investment from Hawaii-based Elemental Impact, which is a leading climate-focused investment platform. As a national implementation partner for the EPA's $27 billion Greenhouse Gas Reduction Fund, Elemental Impact has received $100 million to deploy later-stage commercialized technologies according to the company.

The funding is expected to advance the expansion of MetOx’s Houston production line and the deployment of its HTS wire, which can make transmission cables up to ten times more efficient than traditional copper cables and will be used at the North Carolina facility.

“Building domestic manufacturing capacity for critical grid technologies is essential for America’s energy future," Danya Hakeem, vice president of Portfolio at Elemental Impact, says in a news release. “MetOx’s expansion in Houston demonstrates how we can simultaneously advance grid modernization and create quality manufacturing jobs. Their technology represents exactly the kind of innovation needed to unlock the next wave of clean energy deployment.”

The project in North Carolina will be facilitated with a Job Development Investment Grant formally awarded to a new company being created by MetOx. In the 12-year term of the grant, economists in the Department of Commerce estimated the project will grow North Carolina’s economy by $987.8 million.

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