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From events to a $1.5B deal, here are 3 things to know in Houston energy transition news

Houston energy transition folks — here's what to know to start your week. Photo via Getty Images

Editor's note: Dive headfirst into the new week with three quick things to catch up on in Houston's energy transition: a really big deal from last week, an expert's opinion on sustainability strategy, and events not to miss.

Really big deal: Houston energy transition growth capital firm closes $1.5B fund

EnCap Energy Transition's Fund II, or EETF II, was created to invest in solutions to decarbonize the power industry, and invest in low carbon fuels and carbon management. This second energy transition fund follows EnCap Energy Transition Fund I, a $1.2 billion fund that deployed capital to seven material portfolio company investments and four fund realizations with Broad Reach Power, Jupiter Power, Triple Oak, and Paloma Solar & Wind.

Previously, the company made investment commitments to five portfolio companies through EETF II, including Bildmore Renewables, Linea Energy, Parliament Solar, Power Transitions, and Arbor Renewable Gas. EnCap expects to have 8 to 10 portfolio companies in EETF II in total.

"The EnCap Energy Transition team is proud to have raised a sizeable pool of capital to continue to invest in the opportunity created by the shift to a lower-carbon energy system,” EnCap Energy Transition Managing Partner Jim Hughes says in a news release. Read more about the deal.

Guest column: Why companies are investing in sustainable energy technology

As senior vice president of Enchanted Rock, a Houston-based provider of microgrid technology, Ken Cowan has seen how energy resilience has emerged as a key strategy for businesses across industries, as he writes in a guest column for InnovationMap.

"Executives must recognize the strategic imperative of investing in resilient energy infrastructure like microgrid systems, which can provide a competitive advantage against organizations that do not have similar measures in place," he writes. "In doing so, they can navigate uncertainty with confidence, set their business up for future success, and emerge stronger and more resilient than ever before."

In the piece, he explores the value proposition and other benefits to making these changes. Click here to read more.

Events not to miss

Put these Houston-area energy-related events on your calendar.

  • The 2024 KPMG Global Energy Conference is taking place Wednesday, May 15, at the Post Oak Hotel. The event will focus on areas such as capital investment, mergers and acquisitions, risk and resiliency, technology, and human capital. Register now.
  • The Clean Energy Security and Reliability Forum is co-located with the 2024 RE+ Texas on May 15 to 16. This conference will bring together leading experts to discuss regulatory frameworks and technological innovations that can ensure that solar and energy storage projects are the most secure and reliable source of electricity generation on the U.S. grid. Register now.
  • The Energy Drone & Robotics Summit is coming to Houston June 10 to 12. Join for the ultimate event in the world for UAVs, Robotics & Data/AI, 3D Reality Capture, Geospatial and Digital Twins focused on the business and technology in energy & industrial operations, inspections, maintenance, surveying & mapping. Register now.
  • Join the over 150 senior energy and utilities leaders from June 17 to 18 in Houston for AI in Energy to unlock the potential of AI within your enterprise and delve into key areas for its development.Register now.

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    A View From HETI

    Maria Jelescu Dreyfus is CEO and founder of Ardinall Investment Management, which is an investment firm that works in “sustainable investing and resilient infrastructure.” Photo via ExxonMobil

    An energy transition expert and investor has joined Houston-headquartered ExxonMobil Corp.’s board of directors.

    Maria Jelescu Dreyfus is CEO and founder of Ardinall Investment Management, which is an investment firm that works in “sustainable investing and resilient infrastructure.”

    She previously spent 15 years at Goldman Sachs as a portfolio manager and managing director in the Goldman Sachs Investment Partners Group that focused on energy, industrials, transportation and infrastructure investments across the capital structure.

    She currently serves as a director on the board of Cadiz Inc. and on the board of CDPQ. She also works in the energy transition space as a director on several companies' boards.

    “We welcome Maria to the ExxonMobil Board as the company executes its strategy to grow shareholder value by playing a critical role in a lower-emissions future, even as we continue to provide the reliable energy and products the world needs,” Joseph Hooley, lead independent director for Exxon Mobil Corporation, says in a news release. “Her deep financial background combined with her extensive work in sustainability will complement our Board’s existing skill set.”

    Dreyfus is the vice chair of the advisory board of Columbia University’s Center on Global Energy Policy, and serves as co-chair of its Women in Energy program.

    “With the close of our Pioneer merger, we gained a premier, tier-one Permian asset, exceptional talent and a new Board member who brings keen strategic insight,” says ExxonMobil Chairman and CEO Darren Woods in the release. “Our boardroom, shareholders and stakeholders will greatly benefit from Maria’s experience.”

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