new leaders

Solugen names Houston founder as new president of energy and water

Solugen has named James Begeal, with more than 25 years of experience in the chemical industry, as its new president of energy and water. Photo courtesy Solugen.

Houston-based biochemical producer Solugen has hired chemical industry veteran James Begeal as its new president of energy and water.

In his new position, Begeal leads the commercial strategy for the energy and produced-water sectors, “bringing our innovative chemistry directly to leading oil and gas operators, accelerating revenue growth, and deepening our commercial pipeline,” Solugen said in a news release.

Begeal has more than 25 years of experience in the chemical industry, including roles at oilfield technology company Baker Hughes and chemical company Clariant. In 2016, he co-founded NexGen Chemical Technologies, a Cypress-based provider of alternative natural-gas sweeteners. Begeal served as chief operating officer and chief technology officer at NexGen, which was acquired by League City-based Foremark Performance Chemicals in 2023. He then joined Foremark, which was acquired by investment firm CC Industries in 2024.

Begeal is no stranger to Solugen, having previously served as a company advisor.

“James is a builder — he knows what it takes to launch, scale, and win in this space,” says Solugen CEO Gaurab Chakrabarti. “We’re excited to have him bring that same builder’s mindset to Solugen as we double down on delivering solutions that meet our customers’ toughest challenges.”

The company also recently named Carlos Diaz as its new VP of strategy and international business. Diaz worked for 18 years at Baker Hughes and will lead Solugen's commercial expansion efforts into Latin America and beyond, according to a company representative.

Solugen, founded in 2016, raised $357 million in a series C venture capital round. The 2021 round catapulted Solugen into the unicorn category, meaning the private company is valued at more than $1 billion.

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A View From HETI

Shell is offloading another renewables business. Photo via sprngenergy.com

Reflecting its ongoing de-emphasis of renewable energy, oil and gas giant Shell has agreed to sell its solar and wind power business in India for $1.8 billion.

Aditya Birla Renewables Ltd. (ABRen) is the pending buyer of Solenergi Power Private Ltd., including the Sprng Energy group of companies. Sprng Energy develops, owns and operates utility-scale solar and wind power facilities in India.

Shell, whose U.S. headquarters is in Houston, acquired Solenergi in 2022 for $1.55 billion.

ABRen is Aditya Birla Group’s renewable energy platform. Global Infrastructure Partners, part of asset manager BlackRock, is a strategic investor in ABRen. ABRen develops and operates solar, wind, hybrid and battery storage projects in India.

“This agreement reflects Shell’s continued focus on adjusting the portfolio in our power business,” Machteld de Haan, Shell’s president of downstream, renewables and energy solutions, said in a news release. “We are high-grading our power portfolio and recycling capital in service of our asset-backed trading strategy … This is another step in building a more focused, competitive, and resilient business while improving returns year on year towards 2030.”

Under Wael Sawan, who was named CEO of Shell in 2023, the company has moved away from large-scale, low-yield green energy projects to concentrate on high-margin sectors. Those sectors include natural gas, LNG, deep-water drilling and global energy trading.

The Solenergi deal, expected to close by the end of this year, signals yet another move in Shell’s reassessment of its renewables business. The company has said it will no longer invest in offshore wind projects, but it remains committed to becoming a net-zero emissions business by 2050.

Shell said India remains an important market. In India, Shell offers LNG supply and regasification for downstream users, and also operates Shell Mobility and Shell Lubricants.

The proposed sale of the Indian renewables business continues Shell’s decreasing focus on renewables. In October, Shell exited Atlantic Shores Offshore Wind, a 50-50 joint venture created to offshore wind projects off the coast of New Jersey and New York.

Shell has declared it will not make new investments in offshore wind generation, favoring existing ventures and the expansion of EV charging infrastructure.

The company also announced plans to shut down its Volta C electric vehicle charging business in August 2025.

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