Houston investment firm closes $105M energy venture fund

seeing green

Veriten has closed a $105 million venture fund to support the "future energy world." Photo via Pexels.

Houston-based investment firm Veriten has announced the initial close of its second flagship energy venture fund with more than $105 million in capital commitments.

Fund II will build on Veriten’s initial fund and aim to support “scalable technology solutions for energy, power and industrial applications,” according to a company news release.

"Our differentiated network, research-driven process, and first principles approach to investing are having an impact across multiple verticals including traditional energy, electrification, and industrial technology. Fund II builds on that platform,” John Sommers, partner, investments at Veriten, added in the release. “In this environment, the differentiator isn't capital – it's all about connectivity, deep sector expertise, and an economically-driven approach. As new technologies and approaches develop at breakneck speed, the need for more reliable, affordable energy and power continues to grow dramatically. The current backdrop accentuates the need for Veriten's solution."

Veriten is supported by over 50 strategic partnerships in the energy, power, industrial and technology sectors, including major players like Halliburton and Phillips 66.

"Veriten continues to build a differentiated platform at the intersection of energy, technology and industry expertise," Jeff Miller, chairman and CEO of Halliburton, said in the release. "We were early believers in the team and their ability to identify practical solutions to real challenges across the energy value chain. As all industries increasingly adopt digital tools, automation and AI-enabled technologies to improve performance and execution, we are proud to partner with Veriten again to help accelerate high-impact solutions across the broader energy landscape."

Veriten closed its debut fund, NexTen LP, of $85 million in committed capital in October 2023. It was launched in January 2022 by Maynard Holt, co-founder and former CEO of the energy investment bank Tudor, Pickering, Holt & Co.

It has invested in Houston-based AI-powered electricity analytics provider Amperon and led a $12 million Seed 2 funding round for Houston-based Helix Technologies to scale manufacturing of its energy-efficient commercial HVAC add-on earlier this year. In the past year it has contributed to funding rounds for San Francisco-based Armada and Calgary-based Veerum.

Veriten also named Nick Morriss as its new managing director earlier this month. Morriss most recently served as vice president of business development at next-generation nuclear technology company Natura Resources and spent nearly 20 years at NOV Inc.

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The CleanTech Breakthrough Awards honor “the visionaries and leaders accelerating the transition to a cleaner, more sustainable future.” Photo via quaise.com

8 Houston companies earn CleanTech Breakthrough Awards

winner, winners

Eight cleantech companies with Houston headquarters were recognized in this year’s CleanTech Breakthrough Awards program.

CleanTech Breakthrough, part of market intelligence platform Tech Breakthrough, honors innovative and influential energy, climate, and cleantech companies, products and services.

This year’s winners from Houston are:

CleanTech Analytics Company of the Year: Amperon, a provider of AI-powered energy forecasting software
Overall Hydrogen Solution of the Year: Eclipse Energy, which converts maxed-out oilfields into low-cost sources of hydrogen
Energy Production Company of the Year: Fervo Energy, a provider of geothermal power
Production Solution of the Year: Quaise Energy, a developer of a drilling system for converting traditional power stations into geothermal energy plants
Green Materials Solution of the Year: Solidec, which uses air, water, and electricity to produce chemicals
Hydrogen Production Solution of the Year: VEMA Hydrogen, a producer of renewable hydrogen
CleanTech Analytics Innovation Award: Finland-based Wärtsilä, a provider of advanced energy storage systems and services, which maintains its U.S. headquarters in Houston
Energy Production Platform of the Year: France-based energy giant TotalEnergies, which maintains its U.S. headquarters in Houston

Other Texas companies made the list, including Austin-headquartered Base Power, founded by Justin Lopas and Zach Dell. Zach Dell is the son of Austin billionaire and Houston native Michael Dell, chairman and CEO of Dell Technologies. The company recently started servicing Houston and established an office in Katy.

CleanTech Breakthrough says its annual awards program honors “the visionaries and leaders accelerating the transition to a cleaner, more sustainable future.”

“In a world increasingly focused on sustainability and environmental responsibility, innovation in clean technology has never been more critical,” said Bryan Vaughn, managing director of CleanTech Breakthrough. “This year’s winners represent the very best in ingenuity and execution, delivering solutions that not only reduce environmental impact but also drive efficiency, scalability and real-world results.”

See the full list of the 2026 winners here.

Amperon, Hertha Metals and Vaulted Deep were named to this year's Global Cleantech 100 list. Photo via Getty Images

3 Houston-area companies named to Global Cleantech 100

Energized

Three Houston-area companies—Amperon, Hertha Metals and Vaulted Deep—appear on this year’s Global Cleantech 100 list.

The unranked list, generated by market intelligence and advisory firm Cleantech Group, identifies the 100 privately held companies around the world that are most likely to make a significant impact in the cleantech market over the next five to 10 years.

For the 2026 list, Cleantech Group received more than 24,000 Global Cleantech 100 nominations from nearly 60 countries. Cleantech Group scored those companies and narrowed the contenders to 264. An expert panel reviewed those nominees, and the list was whittled down to the 100 winners.

Here’s a rundown of the three Houston-area honorees:

Amperon

Founded in 2018 by Sean Kelly and Abe Stanway, Houston-based Amperon offers an AI-enabled energy forecasting and analytics platform designed to help stabilize electric grids. Amperon received undisclosed amounts of venture capital from National Grid Partners and Tokyo Gas Co. Ltd. last year and announced a recent investment from Samsung Ventures earlier this month.

Hertha Metals

Founded in 2022 by Laureen Meroueh, Conroe-based Hertha Metals provides a single-step process for producing sustainable steel. Last year, the company emerged from stealth mode and raised more than $17 million in venture capital.

Vaulted Deep

Vaulted Deep’s technology injects excess organic waste underground to remove carbon dioxide from the atmosphere. Julia Reichelstein and Omar Abou-Sayed founded the Houston-based company in 2023. Last year, the startup raised $32.3 million in venture capital. Also in 2025, Vaulted Deep signed a 12-year deal with software giant Microsoft to remove up to 4.9 million metric tons of carbon dioxide from the environment.

Vaulted Deep also made the list last year, along with Houston-based Syzygy Plasmonics and Fervo Energy. Fervo was also named the 2025 North American Company of the Year by Cleantech Group.

Amerpon will use new funding from Samsung Ventures toward its global growth and next-generation product development. Photo via amperon.co

Houston AI energy forecasting company lands investment from Samsung Ventures

funding for forecasts

Amperon, a Houston-based AI-powered forecasting solutions company, has received an investment for an undisclosed amount from Samsung Ventures, the corporate venture arm of Samsung Group.

According to Amperon, the funding will be put toward the company's global growth and next-generation product development. Samsung Ventures invests in emerging businesses developing technologies for the AI, advanced devices and energy-related sectors.

“Samsung Ventures’ investment is a strong validation of our mission to transform the way energy is forecasted and traded,” Sean Kelly, CEO and co-founder of Amperon, said in a news release. “Samsung’s global footprint and leadership in semiconductors, data infrastructure, and AI acceleration make them a natural fit as we expand Amperon’s reach into energy-intensive sectors like data centers. Their track record of scaling next-generation technologies aligns perfectly with our vision to build a more intelligent, resilient, and data-driven energy system.”

Amperon was founded in 2018. Its AI models combine real-time weather, consumption and market data for energy retailers, utilities and independent power producers.

Last year, the company launched its weather-informed grid demand Mid-Term Forecast (MTF), which provides users with data on electricity demand up to seven months in advance. It also secured strategic investments from Acario, the corporate venture capital and innovation division of Tokyo Gas, as well as National Grid Partners, the venture investment and innovation arm of National Grid (NYSE: NGG).

After expanding into Europe in 2024, the company has continued to see international growth, and currently operates in the U.S., Canada, Mexico, Australia, Europe and the Middle East.

“Amperon has demonstrated strong technical capabilities and global traction in a rapidly evolving energy landscape,” a spokesperson for Samsung Ventures added in the release. “Their ability to forecast and model real-time energy data at global scale positions them as a key enabler of smarter energy systems and climate resilience. We are pleased to invest in a company developing technologies that support a more sustainable and digitized world.”

Amperon CEO Sean Kelly discuss the AI revolution in energy forecasting. Photo via LinkedIn

Houston leader discusses the AI revolution in energy forecasting

now streaming

“Forecasting isn’t just about demand anymore—it’s about net demand, accounting for the variability of renewables like wind and solar.”

This insight from Sean Kelly, co-founder and CEO of Amperon, captures the seismic shift occurring in energy forecasting. With renewables surging, grid dynamics growing more complex, and demand more unpredictable than ever, the stakes have never been higher.

On a recent Energy Tech Startups Podcast, Kelly breaks down how Amperon’s AI-driven platform is transforming the way energy providers anticipate demand, mitigate risk, and embrace renewables. Named one of the Top 50 AI Companies in the U.S. by Andreessen Horowitz, Amperon is pushing the boundaries of what’s possible in energy technology.

Here’s a closer look at Kelly’s journey, the challenges he’s tackling, and the insights driving Amperon’s success.

What problem is Amperon solving?

Why does the energy sector need better forecasting now?
The energy grid is evolving at lightning speed. With 25 gigawatts of wind and 20 gigawatts of solar in Texas alone, the focus has shifted from simple demand forecasting to net demand forecasting. It’s not just about predicting how much electricity people will use—it’s about understanding how renewables will interact with that demand.

For example, if it’s a windy day in Texas, prices drop, and the grid behaves very differently. Accurate forecasting helps providers mitigate risk, plan ahead, and prevent costly errors in buying or selling electricity.

The Amperon approach: Why AI is essential

What sets Amperon’s technology apart?
Our models retrain every hour—not every month or even daily. Since launching in 2018, we’ve been continuously learning and adapting to the grid’s behavior. This is critical because the energy sector’s complexity is increasing every day.

We also leverage data from over 10 million meters across the U.S. and Europe, giving us unmatched insights into both individual assets and entire markets. Our tech isn’t about static solutions; it’s dynamic, evolving alongside the grid.

Building for scale: A strategic playbook

How has Amperon scaled from a Houston startup to a global player?
It starts with focus. We began with a clear problem: helping Texas retailers manage risk in a deregulated market. From there, we expanded into other customer segments—traders, public utilities, independent power producers, and more.

Partnerships have been key, too. For example, Microsoft has been instrumental in connecting us with utilities through the Azure marketplace. These collaborations not only enhance credibility but also streamline access to new customers.

The Case for Better AI in Energy

Kelly believes the energy industry is overdue for a technological overhaul. While legacy companies rely on outdated models, Amperon is built on cloud-native AI systems that can handle today’s complexity.

“The challenge isn’t just predicting demand—it’s adapting to constant change,” Kelly says. “Legacy systems weren’t built for this level of complexity. AI that learns every hour is no longer optional—it’s essential.”

Lessons for Entrepreneurs

Stay Customer-Centric: Amperon’s early success came from solving a clear, urgent need for Texas energy retailers. “Product-market fit is everything,” Kelly emphasizes.
Invest in Talent: By hiring data scientists from top companies like Google and Meta, Amperon has built a team capable of tackling the hardest problems.
Leverage Partnerships: Collaborations with players like Microsoft have amplified Amperon’s reach and trust in the market.

What’s next for Amperon?

With over $30 million raised and a rapidly growing global presence, Amperon is doubling down on innovation. The company plans to expand its asset-level forecasting capabilities and deepen its presence in international markets.
“The energy transition is running through Houston,” Kelly says. “This city has the talent, the capital, and the expertise to lead the way.”

Listen to the full episode with Sean Kelly on the Energy Tech Startups Podcast here.

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Energy Tech Startups Podcast is hosted by Jason Ethier and Nada Ahmed. It delves into Houston's pivotal role in the energy transition, spotlighting entrepreneurs and industry leaders shaping a low-carbon future.

Clockwise from top left: Sean Kelly of Amperon, Dianna Liu of ARIXTechnologies, Matthew Dawson of Elementium Materials, Vibhu Sharma of InnoVent Renewables, Cindy Taff of Sage Geosystems, and Emma Konet of TierraClimate. Photos courtesy

Houston's top energy transition founders explain their biggest challenges

overheard

From finding funding to navigating the pace of traditional oil and gas company tech adoption, energy transition companies face their fair share of challenges.

This year's Houston Innovation Awards finalists in the Energy Transition category explained what their biggest challenge has been and how they've overcome it. See what they said below, and make sure to secure your tickets to the Nov. 14 event to see which of these finalists win the award.

"The evolving nature of the energy industry presents opportunities to solve some of our industry's greatest challenges. At Amperon we help optimize grid reliability and stability with the power of AI demand forecasting."

— Sean Kelly, CEO of Amperon, an AI platform powering the smart grid of the future

"The biggest challenge in leading an energy transition-focused startup has been balancing the urgency for sustainable solutions with the slow pace of change in traditional industries like oil and gas. Many companies are cautious about adopting new technologies, especially when it comes to integrating sustainability initiatives. We overcame this by positioning our solutions not just as environmentally friendly, but as tools that improve safety, efficiency, and cost savings. By aligning our value proposition with their operational goals and demonstrating real, measurable benefits, we were able to gain traction and drive adoption in industries that are traditionally resistant to change."

— Dianna Liu, CEO of ARIXTechnologies, an integrated robotics and data analytics company that delivers inspection services through its robotics platforms

"Scaling up production of hard tech is a major challenge. Thankfully, we recruited top-notch talent with experience in technology scale-up and chemical processes. In addition, we've begun building partnerships with some of the world's largest chemical manufacturers in our space who are excited to be a part of our journey and could rapidly accelerate our go to market strategy. We have significant demand for our product as early as 2025, so partnering with these companies to scale-up will bring our technology to market years ahead of doing it alone."

— Matthew Dawson, CEO of Elementium Materials, a battery technology with liquid electrolyte solutions

"Our pyrolysis reactor is a proprietary design that was developed during Covid. We ran simulations to prove that it works, but it was not easy to test it in a pilot facility, let alone scaling it up. We managed ... to run our pilot plant studies, while working with them remotely. We proved that our reactor worked and produced high quality products. Later, we built our own pilot plant R&D facility to continue running tests and optimizing the process. Then, there was the challenge of scaling it up to commercial size. ... We put together a task force of four different companies to come together to design and build this complex reactor in record time."

— Vibhu Sharma, CEO of InnoVent Renewables, a startup with proprietary continuous pyrolysis technology that converts waste tires, plastics, and biomass into valuable fuels and chemicals

"Energy storage and geothermal power generation are capital-intensive infrastructure projects, requiring investors with a deep commitment and the patience in terms of years to allow the technology to be developed and proven in the field. One challenge is finding that niche of investors with the vision to join our journey. We have succeeded in raising our $30 million series A with these types of investors, whom we’re confident will continue the journey as we scale."

— Cindy Taff, CEO of Sage Geosystems, an energy company focused on developing and deploying advanced geothermal technologies to provide reliable power and sustainable energy storage solutions regardless of geography

"The biggest challenge we've faced has been to bring together massive independent power producers on one side who are investing hundreds of millions of dollars into grid infrastructure with multi- national tech giants on the other that don't have experience working much with energy storage. As a startup with only four employees, gaining credibility with these players was critical. We overcame this hurdle by becoming the preeminent thought leader on storage emissions, through publishing white papers, discussing the issues on podcasts, and (more)."

— Emma Konet, CTO of TierraClimate, a software provider that helps grid-scale batteries reduce carbon emissions

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6 Houston companies earn recognition on Time’s global greentech list 2026

green giants

Six Houston-area businesses appear on Time magazine’s 2026 list of the world’s top greentech companies, with a high-flying name leading the pack.

The highest-ranked local company is Houston-based geothermal power producer Fervo Energy, which claims the No. 4 spot—up from No. 14 last year.

In May, Fervo raised nearly $1.9 billion in its IPO, making it the biggest-ever IPO in the clean energy sector. The company’s valuation now exceeds $10 billion.

Founded in 2017, Fervo borrows methods from the oil and gas sector to drill wells that go down vertically into hot rock before turning horizontal, letting water circulate through them and produce electricity from the heat it absorbs. Cape Station in Utah, the company's first utility-scale project, is set to start delivering power to the grid later this year, with capacity expected to grow to 100 megawatts by 2027.

Co-founder and CEO Tim Latimer tells Fast Company, which named him a 2026 Visionary of the Year, that he launched his career as a drilling engineer for fossil fuels, “but quickly became obsessed with this idea that the drilling techniques we were using would actually be transformative for the world of geothermal as well.”

Fast Company notes the geothermal power generated by Cape Station will be available 24/7, unlike wind and solar power.

“When you start adding something to the grid mix that’s affordable and works around the clock,” Latimer says, “that’s going to be a huge asset to meeting our country’s energy needs.”

Time teamed up with data provider Statista to compile the second annual ranking of the 250 top greentech companies in the world. Companies on the list either develop or provide green technology, products, or services that help ease or reverse the environmental impacts of human activity.

Statista gathered and analyzed data from more than 8,300 companies to create the list, and they were scored in three categories: positive environmental impact, innovation, and financial strength. Fervo earned a score of 94.63 out of 100.

Joining Fervo on this year’s list are:

Houston-based Quaise Energy (No. 78), which specializes in terawatt-scale geothermal power
The Woodlands-based Plus Power (No. 112), which develops, owns and operates battery storage projects
Houston-based Utility Global (No. 167), which develops decarbonization technology
Houston-based 1PointFive (No. 217), an Occidental Petroleum subsidiary that offers large-scale carbon removal and storage.
Houston-based Sage Geosystems (No. 250), which produces commercial-scale geothermal power

Earlier this year, six Houston-area companies landed on Time's list of top greentech companies in America: Fervo (No. 1), Quaise Energy (No. 49), Plus Power (No. 71), Utility Global (No. 98), Solugen (No. 199) and Noodoe (No. 215).

Houston-based Syzygy lands global customer for first commercial SAF plant

clean fuel deal

Houston-based Syzygy Plasmonics has secured a major future customer for its sustainable aviation fuel.

Syzygy announced this week that it has entered into a capacity reservation agreement with World Fuel Services, a global fuel distribution and logistics company.

Through the deal, World Fuel has reserved a portion of Syzygy's SAF production for future plants slated for Central and South America. The clean fuel will be produced at Syzygy’s NovaSAF-1 facility in Uruguay, which is moving toward construction.

The NovaSAF-1 will be the world's first electrified facility to convert biogas into sustainable aviation fuel (SAF). The facility is expected to produce over 350,000 gallons of SAF annually, which would be considered “a breakthrough in cost-effective, scalable clean fuel,” according to Syzygy.

The facility is expected to produce SAF with at least an 80 percent reduction in carbon intensity compared to Jet A fuel and make its first deliveries in 2028.

"Following NovaSAF-1, this agreement reflects continued interest in scalable pathways for producing SAF from biogas," Trevor Best, CEO of Syzygy Plasmonics, said in a news release. "Our NovaSAF platform is designed to deliver cost-competitive fuel while supporting the aviation sector's evolving regulatory and sustainability requirements."

Syzygy will make a portion of future production capacity available to World Fuel from its planned facilities, subject to the development and completion of those projects, according to the deal.

"We continue to evaluate supply opportunities that support increased access to lower carbon fuels in aviation, in line with emerging regulatory requirements and customer demand," Michael Ranger, senior vice president of supply EMEAA at World Fuel, added in the release. "Arrangements such as this are part of our ongoing efforts across the supply chain.”

Syzygy also secured an offtake agreement with Singapore-based commodity company Trafigura from NovaSAF-1 earlier this year.

Texas Gov. Abbott seeks data center crackdown as state grapples with growing power demand

growing pains

Just seven months ago, Gov. Greg Abbott trumpeted Google’s $40 billion plan to add three data center campuses in Texas. Now, amid growing public outcry over such projects, Abbott is pushing for a regulatory crackdown on data centers in the Lone Star State.

Abbott recently sent a letter to leaders of the Public Utility Commission of Texas (PUC) and the Electric Reliability Council of Texas (ERCOT) proposing stricter oversight of the state’s data centers. Texas is home to more than 400 data centers, with many more on the way, and is poised to become the world’s largest data center market.

Among other things, Abbott wants to:

Ensure residential electric bills go down — not up — as data centers connect to ERCOT’s grid, which supplies power for about 90 percent of Texans.
Require data centers to cover the costs of upgrades to deliver electricity to the power-hungry facilities.
Repeal sales tax exemptions and other “outdated or unnecessary” financial incentives for data centers.
Institute “best practices,” such as property setbacks and noise-reduction technology, to ease the impact of data centers on nearby residents.
Demand that all new data centers, which use a tremendous amount of water, be built with water-efficient technology.
Require large data centers to generate annual reports on their use of electricity and water.

Abbott has set a July 17 deadline for the PUC and ERCOT to address his recommendations.

“As Texas continues to welcome innovation and investment, we must ensure that growth strengthens our people and their quality of life without placing undue burdens on Texans and local communities,” Abbott wrote.

Abbott’s call for tighter control of data centers has elicited both praise and skepticism.

In a social media post on X, Texas House Speaker Dustin Burrows, a Lubbock Republican, thanked Abbott for seeking “accountability and reform” in the state’s data center industry. Burrows has made data centers one of his priority issues for the 2027 state legislative session.

State oil and gas regulator Wayne Christian, a member of the Texas Railroad Commission, weighed in with similarly positive comments about Abbott’s directive. He says an outright ban on data centers isn’t the answer to residents’ complaints about new facilities.

“The Texas way is not to answer innovation with government overreach or fear-driven bans,” Christian, whose agency wasn’t cited in Abbott’s letter, said in a statement posted on X. “Our job is to protect prosperity, safeguard taxpayers and ensure the infrastructure that powers our economy remains strong and reliable.”

Gina Hinojosa, an Austin Democrat who’s challenging Abbott in this November’s gubernatorial race, took issue with the governor’s edict on data centers.

“Greg Abbott is changing his tune on data centers because he knows his policies are unpopular,” Hinojosa, a state representative, wrote on X. “Nobody believes the arsonist is gonna be the one to put out the fire.”

Abbott’s call for stepped-up regulation of data centers echoes many of the concerns expressed by the state chapter of the Sierra Club, an environmental nonprofit.

“The growth of data centers reflects a broader transformation taking place across Texas,” the Sierra Club says on its website. “The state is becoming a hub for the technologies that will shape the future economy, from artificial intelligence to advanced computing and cloud services. At the same time, Texans deserve transparency about how these projects affect the communities where they are built.”

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