Editor's note: From a new Houston energy transition exec to strategic partnerships and acquisitions, these are the top headlines that resonated with EnergyCapital readers on social media and daily newsletter this week.
Houston offshore robotics company secures $12M, makes major leadership changes
Houston-based Nauticus Robotics has a new CEO and fresh funding. Photo via LinkedIn
In the wake of a leadership reshuffling and amid lingering financial troubles, publicly traded Nauticus Robotics, a Webster-based developer of subsea robots and software, has netted more than $12 million in a second tranche of funding.
The more than $12 million in new funding includes a $9.5 million loan package.
Nauticus says the funding will accelerate certification of the company’s flagship Aquanaut robot, which is being prepared for its inaugural mission — inspecting a deep-water production facility in the Gulf of Mexico that’s owned by a major oil and gas company. Continue reading.
Houston companies land DOE vouchers for clean tech
Ten energy tech companies in Houston are among 111 organizations to receive up to $250,000 in vouchers from the DOE's Office of Technology Transitions, totaling $9.8 million in funding. Photo via Getty Images
Ten Houston-area companies will receive vouchers from the Department of Energy's latest round of funding to support the adoption of clean energy tech.
The companies are among 111 organizations to receive up to $250,000 in vouchers from the DOE's Office of Technology Transitions, totaling $9.8 million in funding, according to a release from the department.
The voucher program is in collaboration with the Offices of Clean Energy Demonstrations (OCED), Fossil Energy and Carbon Management (FECM), and Energy Efficiency and Renewable Energy (EERE). It is funded by the Bipartisan Infrastructure Law. Continue reading.
City offers free composting services to Houstonians looking to reduce landfill contributions
Looking to start composting? This is your month to try it out with free drop-off spots in Houston. Photo via Getty Images
The City of Houston Solid Waste Management Department is launching a free Food Waste Drop-Off pilot program through the end of February.
The program is in collaboration with Council Member Sallie Alcorn, Zero Waste Houston and the City of Houston Health Department, and allows residents to drop off food scraps at four different locations. Continue reading.
New global report names top cleantech startups to keep an eye on
Fervo Energy — and a few other Greentown Labs companies — made a global list of clean tech companies. Photo via fervoenergy.com
Nine Greentown Labs members were recognized on a global list honoring cleantech companies.
Houston-based Fervo Energy was named to Cleantech Group’s Global Cleantech 100 report. Cleantech Group is a research-driven company that aids the public sector, private sector, investors, and also identifies, assesses, and engages with the innovative solutions around climate challenges.
Fervo, a geothermal energy company that specializes in a renewable energy technology that uses hot water to produce electricity, debuted in 2022 on the list, and was honored in the “Energy & Power” category for the second straight year. Continue reading.
Exxon overcomes hefty charge and falling crude prices in fourth quarter to top profit expectations
Shares of the Houston-based company rose 2% before the market opened Friday. Photo via exxonmobil.com
ExxonMobil's fourth-quarter revenue and profits declined along with the price of oil, and the energy giant was weighed down by a hefty impairment charge tied to regulatory issues in California. Still, it posted a healthy adjusted profit and the company raised its quarterly dividend.
Shares of the Houston-based company rose 2% before the market opened Friday.
Revenue for the three months ended Dec. 31 declined to $84.34 billion from $95.43 billion. That fell short of the $91.81 billion that analysts polled by Zacks Investment Research expected. Continue reading.