Energy data platform with Houston HQ raises over $50M series C to scale US presence

going beyond

The company, which has its U.S. headquarters in Houston, reported closing the raise at €52 million, or around $55 million. Image via gridbeyond.com

Dublin-based GridBeyond raised its series C to support its growth in the the United States.

The company, which has its U.S. headquarters in Houston, reported closing the raise at €52 million, or around $55 million. The round was led by Alantra’s Energy Transition Fund, Klima, with participation from new investors Energy Impact Partners, Mirova, ABB, Constellation and Yokogawa Electric Corporation as well as investment from existing investor, Act Venture Capital.

Founded in 2010, GridBeyond's AI platform allows businesses to unlock the full potential of energy assets and prioritize sustainability, resilience, and affordability of energy.

"This funding, together with the support of our new partners, will enable us to expand our product offering and strengthen our leadership position in this space," Michael Phelan, co-founder and CEO of GridBeyond, says in a news release. “The newly completed financing round sets GridBeyond on the path to increase the reach of our intelligent energy platform and deliver world leading AI and powerful automation capabilities to smart grid and energy markets across the world."

Specifically, the company reportedly will use the funding to expand in the United States, as well as continuing its investment in research and development to facilitate the delivery of a global zero-carbon future.

GridBeyond opened its Houston office, which is located at 2101 CityWest Blvd, four years ago. Last year, the business acquired Denver, Colorado-founded Veritone Business Energy.

ABB plans to collaborate with Houston-based Green Hydrogen International on the Hydrogen City project. Photo via Getty Images

Automation company signs on to power up $10 billion hydrogen project in South Texas

seeing green

Electrification and automation company ABB, whose U.S. headquarters for its Energy Industries business is in Houston, has tentatively agreed to supply power for a $10 billion hydrogen project in South Texas.

Under a new memorandum of understanding, ABB plans to collaborate with Houston-based Green Hydrogen International on the Hydrogen City project. The first phase of the project is expected to generate 280,000 tons of green hydrogen per year. This green hydrogen will then be converted to one million tons of green ammonia each year.

“Together, we will enable efforts to decarbonize global industry and progress towards a net-zero future,” Brandon Spencer, president of ABB Energy Industries, says in a news release.

The memorandum of understanding calls for ABB’s technology to be assessed for delivery of solar and onshore wind energy to the 2.2-gigawatt electrolyzer facility at Hydrogen City.

The project will store up to 24,000 tons of green hydrogen in underground salt caverns. A 75-mile pipeline to the nearby Corpus Christi energy port will carry the green hydrogen to an ammonia production facility. At this facility, green hydrogen will be turned into green ammonia that’ll be shipped to Europe and Asia.

Green Hydrogen International is in talks with companies interested in using green hydrogen from Hydrogen City as feedstock for sustainable aviation fuel and e-methane.

Hydrogen City will serve a global green ammonia market whose value is projected to reach $17.9 billion by 2030. Construction on Hydrogen City is scheduled to start in 2026, with initial production set for 2030.

Green Hydrogen International unveiled the multiphase Hydrogen City project in 2022, saying it would be “the world’s largest green hydrogen production and storage hub.” At his month’s CERAWeek in Houston, officials provided an update on Hydrogen City.

“Ammonia has the potential to support decarbonization efforts as part of the energy transition through its use as an alternative fuel for heavy transport such as shipping, as well as its current major use in fertilizer production,” ABB says in the news release.

Last October, Green Hydrogen International announced a Hydrogen City partnership with Japanese oil and gas giant Inpex, whose U.S. outpost is in Houston.

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Texas-based Tesla gets China's initial approval of self-driving software

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Shares of Tesla stock rallied Monday after the electric vehicle maker's CEO, Elon Musk, paid a surprise visit to Beijing over the weekend and reportedly won tentative approval for its driving software.

Musk met with a senior government official in the Chinese capital Sunday, just as the nation’s carmakers are showing off their latest electric vehicle models at the Beijing auto show.

According to The Wall Street Journal, which cited anonymous sources familiar with the matter, Chinese officials told Tesla that Beijing has tentatively approved the automaker's plan to launch its “Full Self-Driving,” or FSD, software feature in the country.

Although it's called FSD, the software still requires human supervision. On Friday the U.S. government’s auto safety agency said it is investigating whether last year’s recall of Tesla’s Autopilot driving system did enough to make sure drivers pay attention to the road. Tesla has reported 20 more crashes involving Autopilot since the recall, according to the National Highway Traffic Safety Administration.

In afternoon trading, shares in Tesla Inc., which is based in Austin, Texas, surged to end Monday up more than 15% — its biggest one-day jump since February 2020. For the year to date, shares are still down 22%.

Tesla has been contending with its stock slide and slowing production. Last week, the company said its first-quarter net income plunged by more than half, but it touted a newer, cheaper car and a fully autonomous robotaxi as catalysts for future growth.

Wedbush analyst Dan Ives called the news about the Chinese approval a “home run” for Tesla and maintained his “Outperform” rating on the stock.

“We note Tesla has stored all data collected by its Chinese fleet in Shanghai since 2021 as required by regulators in Beijing,” Ives wrote in a note to investors. “If Musk is able to obtain approval from Beijing to transfer data collected in China abroad this would be pivotal around the acceleration of training its algorithms for its autonomous technology globally.”

Houston organization celebrates zero waste goal

earth day win

Discovery Green celebrated Earth Day with a major milestone this year — achieving it’s Zero Waste goal.

The nonprofit, along with Citizens’ Environmental Coalition and Houston Public Works, are announced that the 2024 Green Mountain Energy Earth Day, which generated more than 3,800 pounds of garbage, diverted the majority of that waste from landfills. "Zero Waste," as defined by the Environmental Protection Agency, is successfully diverting at least 90 percent of waste from the landfill.

On Earth Day, Discovery Green composted 2,200 pounds of waste and recycled 1,300 pounds of trash.

“Part of Discovery Green Conservancy’s mission is to serve as a village green for our city and be a source of health and happiness for all. Our goal is to sustain an exceptional environment for nature and people,” Discover Green President Kathryn Lott says in a news release. “We are beyond thrilled to have achieved Zero Waste certification.”

The achievement was made possible by volunteers from the University of Houston – Downtown.

Steve Stelzer, president of Citizens’ Environmental Coalition’s board of directors, acknowledged how rare the achievement is in a public space in a major city like Houston.

“Discovery Green Conservancy stepped up and made a commitment to weigh, measure and record everything. They should be congratulated to have done this at this scale,” Stelzer adds. “The Conservancy said they were going to do it and they did. It’s an amazing accomplishment.”

The 2024 event included:

31,000 visitors in attendance
60 + exhibitors
100 + volunteers
12 artists
- 9 chalk artists
- Donkeeboy and Donkeemom
- Mark Bradford
25 Mark Bradford artworks made of scrap presented in partnership with Houston First
4 short films shown
3,836.7 pounds of waste collected during Green Mountain Energy Earth Day

Texas hydrogen research hub opens to support statewide, DOE-backed initiative

hi to hydrogen

A Texas school has cut the ribbon on a new hydrogen-focused research facility that will play a role in a statewide, Department of Energy-funded energy transition initiative.

The Center for Electromechanics at The University of Texas, Frontier Energy, Inc., and GTI Energy celebrated the grand opening of a hydrogen research and demonstration facility in Austin as part of the “Demonstration and Framework for H2@Scale in Texas and Beyond” project, which is supported by the DOE's Hydrogen and Fuel Cell Technologies Office.

The hydrogen proto-hub is first-of-its-kind and part of Texas-wide initiative for a cleaner hydrogen economy and will feature contributions from organizations throughout the state. The facility will generate zero-carbon hydrogen by using water electrolysis powered by solar and wind energy, and steam methane reformation of renewable natural gas from a Texas landfill.

The hydrogen will be used to power a stationary fuel cell for power for the Texas Advanced Computing Center, and it will also supply zero-emission fuel to cell drones and a fleet of Toyota Mirai fuel cell electric vehicles. This method will mark the first time that multiple renewable hydrogen supplies and uses have been networked at one location to show an economical hydrogen ecosystem that is scalable.

“The H2@Scale in Texas project builds on nearly two decades of UT leadership in hydrogen research and development” Michael Lewis, Research Scientist, UT Austin Center for Electromechanics, say in a news release. “With this facility, we aim to provide the educated workforce and the engineering data needed for success. Beyond the current project, the hydrogen research facility is well-positioned for growth and impact in the emerging clean hydrogen industry.”

Over 20 sponsors and industry stakeholders are involved and include Houston-based partners in Center for Houston’s Future and Rice University Baker Institute for Public Policy. Industry heavyweights like Chevron, Toyota, ConocoPhillips, and the Texas Commission on Environmental Quality are also part of the effort.

Texas hydrogen infrastructure and wind and solar resources position the state for clean hydrogen production, as evident in the recently released study, “A Framework for Hydrogen in Texas.” The study was part of a larger effort that started in 2020 with the H2@Scale project, which aims to develop clearer paths to renewable hydrogen as a “clean and cost-effective fuel” according to a news release. The facility will serve as an academic research center, and a model for future large-scale hydrogen deployments.

Participants in the DOE-funded HyVelocity Gulf Coast Hydrogen Hub will aim to gain insights from the H2@Scale project at UT Austin. The project will build towards a development of a comprehensive hydrogen network across the region. HyVelocity is a hub that includes AES Corporation, Air Liquide, Chevron, ExxonMobil, Mitsubishi Power Americas, Orsted, and Sempra Infrastructure. The GTI Energy administered HyVelocity involves The University of Texas at Austin, the Center for Houston’s Future, and Houston Advanced Research Center.

“H2@Scale isn't just about producing low-carbon energy, it's about creating clean energy growth opportunities for communities throughout Texas and the nation,” Adam Walburger, president of Frontier Energy, says in a news release. “By harnessing renewable energy resources to create zero-carbon hydrogen, we can power homes, businesses, transportation, and agriculture – all while creating jobs and reducing emissions.”

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