Editor's note: From Chevron's new deepwater project going online to two Texas companies collaborating on energy storage, these are the top headlines that resonated with EnergyCapital readers on social media and daily newsletter this week.
CenterPoint Energy releases details of resiliency plan
As part of the “Taking Action Now” section, more than 2,500 CenterPoint frontline workers and contractors will be taking a series of targeted actions to strengthen the grid and reduce the risk of outages. Photo via Getty Images
To improve resiliency and reduce the risk of outages from storms or hurricanes, CenterPoint Energy announced its Greater Houston Resiliency Initiative.
The initiative will include an “accelerated timeline to execute specific actions to strengthen electric infrastructure across Houston, and more than 40 critical actions in total to strengthen the electric grid, and improve the company's customer communications and emergency coordination before the next hurricane,” according to a news release.
As part of the “Taking Action Now” section, more than 2,500 CenterPoint frontline workers and contractors will be taking a series of targeted actions to strengthen the grid and reduce the risk of outages before the next major storm that includes installing stronger and more storm-resilient poles, trimming or removal of vegetation from lines, and installing 300 automated devices, which CenterPoint says can help reenergize certain lines and lead to less without power. Continue reading.
Chevron launches production at deepwater project that aims to lower carbon intensity off offshore activity
Chevron's newest deepwater oil and natural gas production project, called the Anchor, is an all-electric facility. Photo courtesy of Chevron
Chevron's new massive deepwater oil and natural gas project in the Gulf of Mexico is officially up and running.
Chevron Corp., which recently announced its relocating its global headquarters to Houston, has officially started oil and natural gas production from its Anchor project in the U.S. Gulf of Mexico.
The semi-submersible floating production unit features a high-pressure technology that operates at up to 20,000 psi with reservoir depths reaching 34,000 feet below sea level, Chevron reports, and has a capacity of 75,000 gross barrels of oil per day and 28 million gross cubic feet of natural gas per day. Continue reading.
Two Texas companies combine to enhance hydrogen fueling, storage infrastructure
Celly offers logistics, storage, and dispensing to innovative modular refueling station services. Photo via cellyh2.com
A provider of hydrogen infrastructure solutions Celly H2 has announced its acquisition of ChemTech Energy (CNE) to continue Celly's mission of leading hydrogen fueling and storage infrastructure.
The Willis, Texas-based company offers logistics, storage, and dispensing to innovative modular refueling station services. Montgomery’s Chemtec Energy has a 25-year legacy in the oil and gas market and specializes in modular hydrogen fueling and storage infrastructure solutions.
"This acquisition marks a significant milestone for Celly as we continue to expand our portfolio in the renewable energy market," Founder and CEO of Celly Austin Terry says in a news release. Continue reading.
Houston clean energy provider raises $10.8M series A
Branch Energy aims to provide customers with clean energy at a lower cost than competitors. Photo via Getty Images
A tech-driven retail energy provider based in Houston has secured an oversubscribed series A round of funding.
Branch Energy raised a $10.8 million round led by climate-focused venture capital firm Prelude Ventures with co-investor Zero Infinity Partners, an infrastructure tech-focused firm. The fresh funding will go toward accelerating the company's battery management tech and build out the infrastructure of its field services.
A vertically integrated power provider, Branch Energy aims to provide customers with demand management software and battery storage systems to ensure long-term, stable, and clean energy at a lower cost than competitors. Continue reading.
Woodside to acquire clean ammonia project outside of Houston in $2.4B deal
OCI broke ground on the project in 2022. Photo via oci-global.com
Woodside Energy has announced its acquiring a Beaumont, Texas, clean ammonia project that's slated to deliver its first ammonia by 2025 and lower carbon ammonia by 2026.
The agreement is for Woodside to acquire 100 percent of OCI Clean Ammonia Holding and its lower carbon ammonia project in Beaumont in an all-cash deal of approximately $2.35 billion. According to Woodside CEO Meg O’Neill, the acquisition positions Woodside as an early mover in clean ammonia within the energy transition.
“This transaction positions Woodside in the growing lower carbon ammonia market," O’Neill says in a news release. "The potential applications for lower carbon ammonia are in power generation, marine fuels and as an industrial feedstock, as it displaces higher-emitting fuels. Continue reading.