Editor's note: Dive headfirst into the new week with three quick things to catch up on in Houston's energy transition.
Year in review: Rounding up 2024's recap
As the year comes to a close, EnergyCapital is looking back at the year's top stories in Houston energy transition. So far, the Year in Review section has covered top guest columns, trending research news, and more. Read each roundup below.
Fresh funding: Fervo Energy collects $255M
The deal brings Fervo's total funding secured this year to around $600 million. Photo courtesy of Fervo
A Houston company that's responding to rising energy demand by harnessing geothermal energy through its technology has again secured millions in funding. The deal brings Fervo's total funding secured this year to around $600 million.
Fervo Energy announced that it has raised $255 million in new funding and capital availability. The $135 million corporate equity round was led by Capricorn’s Technology Impact Fund II with participating investors including Breakthrough Energy Ventures, CalSTRS, Congruent Ventures, CPP Investments, DCVC, Devon Energy, Galvanize Climate Solutions, Liberty Mutual Investments, Mercuria, and Sabanci Climate Ventures.
The funding will go toward supporting Fervo's ongoing and future geothermal projects. Continue reading.
Big deal: Expro secures $10M contract
Expro has secured a $10 million contract to provide a subsea well decommissioning solution, combining subsea safety systems and surface fluid management to support safe re-entry and fluid management for plugged and abandoned wells. Photo courtesy of Expro
Houston energy services provider Expro was awarded a contract valued at over $10 million for the provision of a well decommissioning solution.
The solution will combine subsea safety systems and surface processing design that can enable safe entry to the well and management of well fluids.
“The contract reinforces our reputation as the leading provider of subsea safety systems and surface well test equipment, including within the P&A sector,” Iain Farley, Expro’s regional vice president for Europe and Sub-Saharan Africa, says in a news release. "It demonstrates our commitment to delivering best-in-class equipment, allied with the highest standards of safety and service quality that Expro is renowned for.” Continue reading.