take note

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.

    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.

    Trending News