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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

    Ten climatetech startups were named most-promising at this annual Rice Alliance Energy Tech Venture Forum. Photo courtesy Rice Alliance.

    Investors at the Rice Alliance Energy Tech Venture Forum have named the 10 most-promising startups among the group of 100 clean tech companies participating in the event.

    The 22nd annual event was held yesterday, Sept. 18, at Rice University’s Jones Graduate School of Business and was part of the second Houston Energy and Climate Startup Week.

    The most-promising startups will receive $7,000 in in-kind legal services from Baker Botts.

    The 10 most-promising companies included:

    • Houston-based Xplorobot, which has developed laser gas imaging technology for the first handheld methane detection device approved by the EPA as an alternative test method
    • Seattle-based Badwater Alchemy, a desalination company that uses nano materials to purify saline water at a fraction of the cost of traditional methods
    • San Francisco-based Ammobia, which is developing a clean ammonia production process
    • Illinois-based Celadyne Technologies, which is building hydrogen for industrial decarbonization with durable and efficient fuel cells and electrolyzers
    • Massachusetts-based MacroCycle Technologies, which converts plastic waste in the form of bottles, food trays and polyester textiles into virgin-grade mPET resin
    • Yorkshire, England-based AtoMe, a global developer of zero-carbon fertiliser products
    • Colorado-based Advanced Thermovoltaic Systems (ATS) Energy, a renewable energy semiconductor manufacturing company
    • North Carolina-based Lukera Energy, which is converting waste methane into high-value fuel
    • Midland, Texas-based AI Driller, a company that uses AI and machine learning to enable remote operations and provide historical drilling data for survey management, anti-collision monitoring and iob reporting
    • New York-based Fast Metals Inc., which has developed a chemical process to extract valuable metals from complex toxic mine tailings that is capable of producing iron, aluminum, scandium, titanium and other rare earth elements using industrial waste and waste CO2 as inputs

    Arculus Solutions won the People's Choice Award. The New Jersey-based company retrofits natural gas pipelines for safe hydrogen transportation. It also won Track A: Hydrogen, Fuel Cells, Buildings, Water, & Other Energy Solutions at the Energy Venture Day and Pitch Competition during CERAWeek earlier this year.

    The 100 energy technology ventures selected to participate in the forum were named earlier this year. See the full list here.

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