by the numbers

Annual report ranks 2 Houston energy tech companies on list of fasting growing businesses

While no Houston business was able to break into the top 100, four did make the cut for this prestigious list. Photo via Getty Images

Four Houston businesses made the cut on Deloitte's recently unveiled list of the fastest-growing technology companies in North America — and two are energy tech companies.

For the 29th year, 2023 Technology Fast 500 ranked top tech, media, telecommunications, life sciences, and energy technology companies based on fiscal year revenue growth from 2019 to 2022. While no Houston business was able to break into the top 100, four did make the cut for this year's list.

“It is great to see Houston represented alongside established technology hubs on this year’s Fast 500 list,” Amy Chronis, vice chair, US Energy and Chemicals Leader and Houston managing partner at Deloitte, says in a statement. “Houston is planting seeds for future innovation, and the companies named to this year’s list confirm our city’s value proposition as an innovative community. We look forward to this growth continuing in the future and extend our congratulations to this year’s Houston winners.”

Houston's two energy representatives are NatGasHub.com, a pipeline data source, at No. 356 with 364 percent growth and P97 Networks, a fintech company for gas stations, at No. 506 with 225 percent growth.

The other two Houston businesses are digital media company Direct Digital Holdings at No. 108 with 1,325 percent growth and B2B software solutions business Liongard at No. 208 with 680 percent growth

Thirty Texas companies made the list of the 541 ranked, making it the fourth most concentrated hub on the list behind the Bay Area, Tri-State Area, and New England. The companies on the list reported a revenue growth ranging from 201 percent to 222,189 percent over the three-year time frame from 2019 to 2022. The average growth rate was 1,934 percent and a median growth rate of 497 percent.

“Each year, we look forward to reviewing the progress and innovations of our Technology Fast 500 winners," Paul Silverglate, vice chair, Deloitte LLP and U.S. technology sector leader, says in the release. "This year is especially celebratory as we expand the number of winners to better represent just how many companies are developing new ideas to progress our society and the world, especially during a slow economy. While software and services and life sciences continue to dominate the top 10, we are encouraged to see other categories making their mark."

Software dominated the industry breakdown with 57 percent of the companies working in that field. However, the top company for 2023 was Vir Biotechnology Inc., a life science company that developed a COVID-19 treatment. Vir was also the top company in 2022.

Last year, only one Houston company made the list. At No. 372 Onit reported a revenue increase of 369 percent. The company also made the 2021 list, along with Graylog and Enercross.

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A View From HETI

CenterPoint has committed to "the largest investment in Greater Houston infrastructure in the company's nearly 160-year history." Photo via Getty Images

CenterPoint Energy disclosed that it's completed its core resiliency actions first phase of its Greater Houston Resiliency Initiative. The company also reports that it's outlined extra upcoming efforts.

Following the unprecedented outages of Hurricane Beryl, CenterPoint outlined its GHRI in August. As of last week, the first phase, which included more than 40 critical actions in total to strengthen the electric grid, has been completed ahead of schedule.

The company also announced a second phase of GHRI and approximately $5 billion in resiliency investment from 2026 to 2028, a figure that's around twice as much as initially promised.

"We have heard the call to action from our customers and elected officials, and we are responding with bold actions," says Jason Wells, CenterPoint president and CEO, in a statement. "Our defining goal, going forward, is this: to build the most resilient coastal grid in the country that can better withstand the extreme weather of the future. To achieve this ambition, we will undertake a historic level of resiliency actions and investment, because this is what the people of the Greater Houston area expect and deserve."

According to CenterPoint, the second phase will include system hardening, strategic undergrounding, self-healing grid technology, and further enhancements to the company's outage tracker.

CenterPoint outlined its recently completed efforts, including installing over 300 automation devices and more than 1,000 stronger poles, as well as removing hazardous vegetation from more than 2,000 miles of power lines. Next up, CenterPoint says it's near-term actions will include further grid strengthening, public communication improvements, and enhancements to local, community, and emergency partnerships. The details of this phase, which will take place between September 1 to June 1, will be released by September 30.

In the company's longer-term action plan, CenterPoint commits to $5 billion in upgrades from 2026 to 2028 — "the largest investment in Greater Houston infrastructure in the company's nearly 160-year history."

"The mission of this longer-term plan of action is to build the most resilient coastal grid in the country by investing in a smarter grid of the future that can better withstand a broad spectrum of risks," reads the statement. "The proposal, and the entire scope of these actions will be outlined in a new system resiliency plan that is expected to be filed with the Public Utility Commission of Texas on or before January 31, 2025."

CenterPoint reports that lawmakers have received this information directly, and that the plan will be shaped by feedback from its customers, experts, and stakeholders, including elected officials and local agencies.

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