top stories

McKinsey makes acquisition, Shell slows solar, and more trending Houston innovation news

Here's what news trended this week on EnergyCapital. Photo via Getty Images

Editor's note: From recent M&A activity to a recent report on AI, these are the top headlines that resonated with EnergyCapital readers on social media and daily newsletter this week.

Shell shrinks renewable portfolio yet again with latest divestment

Shell’s Savion subsidiary, which the energy giant acquired in 2021, plans to sell about one-fourth of its solar generation and storage assets. Photo via shell.us

In a move aimed at focusing more on its oil and gas business, Houston-based Shell USA continues to scale back its wind and solar energy portfolio.

The Reuters news service reported February 29 that Shell’s Savion subsidiary, which the energy giant acquired in 2021, plans to sell about one-fourth of its solar generation and storage assets. These assets represent as much as 10.6 gigawatts of generation and storage capacity.

This development follows the completion in early February of deals for Kansas City, Missouri-based Savion to sell its 50 percent stake in a solar energy project in Ohio and for Houston-based Shell Wind Energy to sell its 60 percent stake in a wind farm in Texas. Continue reading.

Houston rises as emerging hub for $6B global AI in oil and gas industry, per new report

The research outfit says North America leads global AI growth in oil and gas, with Houston playing a pivotal role. Image via Shutterstock

Houston is emerging as a hub for the development of artificial intelligence in the oil and gas industry — a global market projected to be worth nearly $6 billion by 2028.

This fresh insight comes from a report recently published by ResearchAndMarkets.com. The research outfit says North America leads global AI growth in oil and gas, with Houston playing a pivotal role.

“With AI-driven innovation at its core, the oil and gas industry is set to undergo a profound transformation, impacting everything from reservoir optimization to asset management and energy consumption strategies — setting a new standard for the future of the sector,” says ResearchAndMarkets.com. Continue reading.

McKinsey acquires Houston-area co. to enhance sustainability services

According to McKinsey data, more than $3.5 trillion will be invested in green hydrogen, carbon capture, renewable energy, and other projects that are working toward net-zero transition by 2050. Photo via ses-estimating.com

A global management consulting company has executed on an acquisition key to its plans amid the energy transition.

McKinsey & Company announced the acquisition of Strategic Estimating Systems, a Sugar Land-based consulting firm specializing in cost estimation for oil, gas, and chemical process industries. The acquisition provides McKinsey with enhanced benchmarking capabilities across capital project management — especially within the energy transition. The terms of the deal were not disclosed.

"The capital projects ecosystem is presented with a once-in-a-generation chance to aid in transforming economies to achieve net zero," Justin Dahl, partner and global leader of McKinsey & Company's Capital Analytics, says. Continue reading.

Houston orgs name student, industry teams for CERAWeek pitch competition

Nearly 40 climatetech startups will pitch at this upcoming CERAWeek event from HETI, the Rice Alliance, and TEX-E. Photo by Natalie Harms

The Rice Alliance for Technology and Entrepreneurship, the Houston Energy Transition Initiative and the Texas Entrepreneurship Exchange for Energy announced the 39 energy ventures that will pitch at 2024 Energy Venture Day and Pitch Competition during this month's CERAWeek.

The ventures are focused on driving efficiency and advancements toward the energy transition and will each present a 3.5-minute pitch before venture capitalists, corporate innovation groups, industry leaders, academics, and service providers during CERAWeek's Agora program.

The pitch competition is divided up into the TEX-E university track, in which Texas student-led energy startups compete for $50,000 in cash prizes, and the industry ventures track. Continue reading.

Houston-based female business leader named changemaker amid energy transition

EDP Renewables North America announced its CEO Sandhya Ganapathy has been named to CNBC’s inaugural Changemakers: Women Transforming Business list.

A Houston renewable energy developer CEO has scored a prestigious spot on a list of changemakers.

EDP Renewables North America announced its CEO Sandhya Ganapathy has been named to CNBC’s inaugural Changemakers: Women Transforming Business list. Ganapathy was recognized for ESG and ED&I Initiatives while helping to advance the clean energy transition.

The new list recognizes female leaders at companies and philanthropic organizations that have achieved impactful financial and business milestones.

“Thank you to CNBC for recognizing the leadership and groundbreaking initiatives the women on this list have achieved,” the company said in a statement on LinkedIn. “As our renewable energy market sector continues to progress and expand, we will need everyone in our industry to be a #changemaker to ensure #reliable, #costeffective, #homegrown energy is accessible to all.” Continue reading.

Trending News

A View From HETI

From business insights to perspectives on Houston's energy transition, here are the most-read expert contributor articles on EnergyCapital 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 of Houston energy transition. From business advice to industry observations, these are five of the most-read pieces from experts in the industry. Make sure to click through the links below to read the full story.

Expert weighs in on fire protection standards in hydrogen industry growth

With the projected uptick of new hydrogen production projects, an expert explores hydrogen fire protection, reflects on the measures and standards established to mitigate risks, and more. Photo courtesy

Written by Stuart Bradbury, PPG business development manager of Fire Protection, Protective and Marine Coatings.

As First State Hydrogen continues to advance its groundbreaking clean hydrogen production facility in the U.S., the spotlight intensifies as hydrogen becomes an increasingly key player in the energy transition.

With the projected uptick of new hydrogen production and handling projects, let's explore hydrogen fire protection, reflect on the measures and standards established to mitigate risks, and ensure that the hydrogen economy thrives. Continue reading.

Unlocking climate tech’s potential in Houston: What health innovation's rise can teach us

If we can channel the same sense of urgency and public commitment toward climate change as we did for health crises in the past, climate tech could overcome its current obstacles. Photo via Getty Images

Written by Nada Ahmed, founding partner at Houston-based Energy Tech Nexus, a startup hub for the energy transition.

Over the past several decades, climate tech has faced numerous challenges, ranging from inconsistent public support to a lack of funding from cautious investors. While grassroots organizations and climate innovators have made notable efforts to address urgent environmental issues, we have yet to see large-scale, lasting impact.

A common tendency is to compare climate tech to the rapid advancements made in digital and software technology, but perhaps a more appropriate parallel is the health tech sector, which encountered many of the same struggles in its early days.

Observing the rise of health tech and the economic and political support it received, we can uncover strategies that could stabilize and propel climate tech forward. Continue reading.

Column: Should companies pay for EV chargers for corporate fleets?

By taking a thoughtful approach to employees’ individual situations, fleet managers can design a take-home EV program that fits their drivers’ needs and benefits the company’s bottom line in the long run. Photo via Getty Images

Written by David Lewis, founder and CEO of MoveEV.

As electric vehicles continue to rise in popularity among corporate fleets, the question of how to best accommodate charging needs for fleet drivers, especially those taking their vehicles home, is becoming increasingly important.

Charging EV fleet vehicles at home can be an excellent strategy to save employees time and cut operational costs. However, many companies hesitate in their take-home EV implementation, mistakenly believing that high-cost level 2 home chargers are a necessity. This misconception can stall the transition to an efficient, cost-effective fleet charging solution.

By taking a thoughtful approach to employees’ individual situations, fleet managers can design a take-home EV program that fits their drivers’ needs and benefits the company’s bottom line in the long run. Continue reading.

Uniquely Houston event to convene innovation experts across aerospace, energy, and medicine

For the eighteenth year in a row, the annual Pumps & Pipes event will showcase and explore convergence innovation and common technology themes across Houston’s three major industries. Image courtesy of Pumps & Pipes

Written by Stuart Corr, director of innovation engineering at The Bookout Center at Houston Methodist and executive director of Pumps & Pipes.

Every year, Houston's legacy industries — energy, medicine, and aerospace — come together to share innovative ideas and collaborate on future opportunities.

For the eighteenth year in a row, the annual Pumps & Pipes event will showcase and explore convergence innovation and common technology themes across Houston’s three major industries. The hosting organization, also called Pumps & Pipes, was established in 2007 in Houston and is dedicated to fostering collaboration amongst the city's three major industries.

With NASA in its backyard, the world’s largest medical center, and a reputation as the “Energy Capital of the World,” Houston is uniquely positioned to lead in cross-industry convergence innovation and is reflected in the theme of this year’s event – Blueprint Houston: Converge and Innovate. Continue reading.

Op-Ed: To protect the Texas grid, help Texans protect themselves

This latest incident is more than a sign that Houstonians must take control of their power. Photo by Eric Turnquist

Written by Bret Biggart, CEO of Freedom Solar Power, a Texas-based solar company.

On the evening of May 16, a devastating “derecho” storm howled through Houston. Nearly 800,000 customers lost power. Many were still without electricity days later, as a heat wave baked neighborhoods that couldn’t power air conditioners.

It was yet another unwelcome reminder about the precariousness of the power grid.

These outages followed repeated grid warnings, conservation calls, and near-misses last summer and the summer before, as well as the catastrophic Winter Storm Uri freeze in February 2021.

The outages also preceded the increasingly extreme weather Texas faces and staggering growth on the ERCOT grid: after growing about 1 percent a year for 20 years, the power grid covering most of Texas may need to be 78 percent bigger by 2030.

So, this latest incident is more than a sign that Houstonians must take control of their power. It also shows that more and more, the state needs you to act. Continue reading.

Trending News