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Houston financial services firm brings onboard energy veteran

Pickering Energy Partners entered into a collaborative partnership with Rick Mauro to support clients in carbon sequestration and methane mitigation efforts. Photo courtesy of Pickering Energy Partners

A Houston-based energy-focused financial services platform has brought onboard an industry veteran to offer a unique insight to its clients.

Pickering Energy Partners announced a collaborative partnership with energy veteran Rick Mauro to further support clients in carbon sequestration and methane mitigation efforts.

PEP ESG Consulting team’s clients will have access to comprehensive strategic and technical consulting services, which will cover a broader spectrum of environmental and sustainability needs according to the company.

Mauro brings energy transition and oil and gas expertise through his career at Halliburton and Mobil Oil. He has hands-on experience in various operational settings like onshore and offshore assets in North America, Australia, Asia Pacific, and Kuwait with his geology background. He also advises client teams at Halliburton subsidiary Landmark Services Line and consulting firm Decision Strategies.

“Rick’s extensive work with constituents across multiple organizational levels, from operations to executive management, brings a versatile and well-informed viewpoint to our projects,” Dan Romito, head of PEP ESG Consulting, says in a news release. “Our goal is to offer energy-focused clients a well-rounded and technically proficient approach to ESG benchmarking and reporting.”

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A View From HETI

XGS Energy plans to “aggressively expand” its team in Houston this year thanks to its latest round of investments. Photo via Getty Images

XGS Energy, a California-headquartered geothermal power company with a major presence in Houston, has closed $13 million in new financing that included new investors Aligned Climate Capital, ClearSky, ClimateIC and WovenEarth Ventures, in addition to inside investors.

The company plans to “aggressively expand” its team in Houston this year, according to a news release.

“We are facing global energy supply challenges of unprecedented scale and urgency,” Kevin Kimsa, Managing Partner at ClimateIC, said in the release. “The XGS team is uniquely primed to meet the moment, bringing together innovative technology and leading engineering talent with the deep experience in infrastructure development and financing critical to deploying large-scale energy systems at speed.”

As part of the financing deal, Mano Nazar, ClearSky Senior Advisor and the former Chief Nuclear Officer of NextEra Energy, will join the XGS Energy Board of Directors.

“XGS’s advanced geothermal technology is uniquely positioned to deliver abundant energy to the grid faster than any other baseload energy technology at a time of unprecedented demand for energy resources,” Nazar said in a news release. “We are excited to partner with XGS to deliver on their mission of sustainable, reliable, and scalable geothermal energy.”

XGS is known for its next-gen closed-loop geothermal well architecture. The company saw massive growth in the Houston market last year and recently completed a 100-meter field demonstration in central Texas. The new funding supports the XGS’s multi-gigawatt project pipeline.

The recent financing also builds on an oversubscribed Series A round led by Constellation Technology Ventures, VoLo Earth Ventures, and Valo Ventures that closed last year.

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