Editor's note: Dive headfirst into the new week with three quick things to catch up on in Houston's energy transition.
Events not to miss
Put these Houston-area energy-related events on your calendar.
- The 5th Texas Energy Forum 2024, organized by U.S. Energy Stream, will take place on August 21 and 22 at the Petroleum Club of Houston. Register now.
- Hart Energy's New Energies Summit is taking place on August 27 to 28 at the Hilton Americas - Houston. Register now.
- The inaugural Houston Energy and Climate Startup Week will take place September 9 to 13. Learn more.
- Gastech will be hosted in Houston this year. The event is September 17 to 20 at the George R Brown Convention Center. Register now.
2 startups raise funding for climatetech solutions
Two Houston companies have recently raised funding. Photo via Getty Images
This month, two Houston-based energy tech startups closed rounds of funding.
Applied Carbon raised a $21.5 million series a round of funding to support the advancement of its automated technology that converts field wastes into stable carbon. Previously known as Climate Robotics, the company announced that its fresh round of funding was led by TO VC, with participation from Congruent Ventures, Grantham Foundation, Microsoft Climate Innovation Fund, S2G Ventures, Overture.vc, Wireframe Ventures, Autodesk Foundation, Anglo American, Susquehanna Foundation, US Endowment for Forestry and Communities, TELUS Pollinator Fund for Good, and Elemental Excelerator.
The series A funding will support the deployment of its biochar machines across Texas, Oklahoma, Arkansas, and Louisiana. Read more.
Last week, Branch Energy raised an oversubscribed $10.8 million series A 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. Read more.
Chevron announces HQ move from California to Houston
Chevron expects all of its corporate functions to shift to Houston over the next five years. Photo via Getty Images
The Energy Capital of the World is adding another jewel to its corporate crown.
With the impending move of Chevron’s headquarters from Northern California to Houston, the Houston area will be home to 24 Fortune 500 companies. Chevron ranks 15th on this year’s Fortune 500.
Chevron, which posted revenue of $200.9 billion in 2023, employs about 7,000 people in the Houston area and about 2,000 people in San Ramon. The company says its chairman and CEO, Mike Wirth, and vice chairman, Mark Nelson, will move to Houston before the end of 2024. Read more.