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

From business insights to perspectives on Houston's energy transition, here are the most-read expert contributor articles on EnergyCapital this year. Photo via Getty Images

Editor's note: As the year comes to a close, EnergyCapital is looking back at the year's top stories of Houston energy transition. From business advice to industry observations, these are five of the most-read pieces from experts in the industry. Make sure to click through the links below to read the full story.

Expert weighs in on fire protection standards in hydrogen industry growth

With the projected uptick of new hydrogen production projects, an expert explores hydrogen fire protection, reflects on the measures and standards established to mitigate risks, and more. Photo courtesy

Written by Stuart Bradbury, PPG business development manager of Fire Protection, Protective and Marine Coatings.

As First State Hydrogen continues to advance its groundbreaking clean hydrogen production facility in the U.S., the spotlight intensifies as hydrogen becomes an increasingly key player in the energy transition.

With the projected uptick of new hydrogen production and handling projects, let's explore hydrogen fire protection, reflect on the measures and standards established to mitigate risks, and ensure that the hydrogen economy thrives. Continue reading.

Unlocking climate tech’s potential in Houston: What health innovation's rise can teach us

If we can channel the same sense of urgency and public commitment toward climate change as we did for health crises in the past, climate tech could overcome its current obstacles. Photo via Getty Images

Written by Nada Ahmed, founding partner at Houston-based Energy Tech Nexus, a startup hub for the energy transition.

Over the past several decades, climate tech has faced numerous challenges, ranging from inconsistent public support to a lack of funding from cautious investors. While grassroots organizations and climate innovators have made notable efforts to address urgent environmental issues, we have yet to see large-scale, lasting impact.

A common tendency is to compare climate tech to the rapid advancements made in digital and software technology, but perhaps a more appropriate parallel is the health tech sector, which encountered many of the same struggles in its early days.

Observing the rise of health tech and the economic and political support it received, we can uncover strategies that could stabilize and propel climate tech forward. Continue reading.

Column: Should companies pay for EV chargers for corporate fleets?

By taking a thoughtful approach to employees’ individual situations, fleet managers can design a take-home EV program that fits their drivers’ needs and benefits the company’s bottom line in the long run. Photo via Getty Images

Written by David Lewis, founder and CEO of MoveEV.

As electric vehicles continue to rise in popularity among corporate fleets, the question of how to best accommodate charging needs for fleet drivers, especially those taking their vehicles home, is becoming increasingly important.

Charging EV fleet vehicles at home can be an excellent strategy to save employees time and cut operational costs. However, many companies hesitate in their take-home EV implementation, mistakenly believing that high-cost level 2 home chargers are a necessity. This misconception can stall the transition to an efficient, cost-effective fleet charging solution.

By taking a thoughtful approach to employees’ individual situations, fleet managers can design a take-home EV program that fits their drivers’ needs and benefits the company’s bottom line in the long run. Continue reading.

Uniquely Houston event to convene innovation experts across aerospace, energy, and medicine

For the eighteenth year in a row, the annual Pumps & Pipes event will showcase and explore convergence innovation and common technology themes across Houston’s three major industries. Image courtesy of Pumps & Pipes

Written by Stuart Corr, director of innovation engineering at The Bookout Center at Houston Methodist and executive director of Pumps & Pipes.

Every year, Houston's legacy industries — energy, medicine, and aerospace — come together to share innovative ideas and collaborate on future opportunities.

For the eighteenth year in a row, the annual Pumps & Pipes event will showcase and explore convergence innovation and common technology themes across Houston’s three major industries. The hosting organization, also called Pumps & Pipes, was established in 2007 in Houston and is dedicated to fostering collaboration amongst the city's three major industries.

With NASA in its backyard, the world’s largest medical center, and a reputation as the “Energy Capital of the World,” Houston is uniquely positioned to lead in cross-industry convergence innovation and is reflected in the theme of this year’s event – Blueprint Houston: Converge and Innovate. Continue reading.

Op-Ed: To protect the Texas grid, help Texans protect themselves

This latest incident is more than a sign that Houstonians must take control of their power. Photo by Eric Turnquist

Written by Bret Biggart, CEO of Freedom Solar Power, a Texas-based solar company.

On the evening of May 16, a devastating “derecho” storm howled through Houston. Nearly 800,000 customers lost power. Many were still without electricity days later, as a heat wave baked neighborhoods that couldn’t power air conditioners.

It was yet another unwelcome reminder about the precariousness of the power grid.

These outages followed repeated grid warnings, conservation calls, and near-misses last summer and the summer before, as well as the catastrophic Winter Storm Uri freeze in February 2021.

The outages also preceded the increasingly extreme weather Texas faces and staggering growth on the ERCOT grid: after growing about 1 percent a year for 20 years, the power grid covering most of Texas may need to be 78 percent bigger by 2030.

So, this latest incident is more than a sign that Houstonians must take control of their power. It also shows that more and more, the state needs you to act. Continue reading.

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