The Carbon to Value Initiative kicks off this week at Greentown Houston. Photo via GreentownLabs.com

A carbon innovation initiative in collaboration with Greentown Houston has named its new cohort.

The Carbon to Value Initiative (C2V Initiative) — a collaboration between NYU Tandon School of Engineering's Urban Future Lab (UFL), Greentown Labs, and Fraunhofer USA — has named nine startup participants for the fourth year of its carbontech accelerator program.

"Once again, the C2V Initiative has been able to select some of the most promising carbontech startups through a very competitive process with a 7 percent acceptance rate," Frederic Clerc, director of the C2V Initiative and interim managing director of UFL, says in a news release. "The diversity of this cohort, in its technologies, products, geographies, and stages, makes it an amazing snapshot of the rapidly evolving carbontech innovation landscape."

The cohort was selected from over a hundred applications from nearly 30 countries. In the six-month program, the nine companies gain access to the C2V Initiative's Carbontech Leadership Council, an invitation-only group of corporate, nonprofit, and government leaders who provide commercialization opportunities and identify avenues for technology validation, testing, and demonstration.

The year four cohort, according to the release, includes:

  • Ardent, from New Castle, Delaware, is a process technology company that is developing membrane-based solutions for point-source carbon capture and other chemical separations.
  • CarbonBlue, from Haifa, Israel, develops a chemical process that mineralizes and extracts CO2 from water, which then reabsorbs more atmospheric CO2.
  • MacroCycle, from Somerville, Massachusetts, develops a chemical recycling process to turn polyethylene terephthalate (PET) and polyester-fiber waste into "virgin-grade" plastics.
  • Maple Materials, from Richmond, California,develops an electrolysis process to convert CO2 into graphite and oxygen.
  • Oxylus Energy, from New Haven, Connecticut, develops a direct electrochemical process to convert CO2 into fuels and chemical feedstocks, such as methanol.
  • Phlair, from Munich, Germany, develops a renewable-energy-powered Direct Air Capture (DAC) system using an electrochemical process for acid and base generation.
  • Secant Fuel, from Montreal, Quebec, Canada, develops a one-step electrocatalytic process that converts flue gas into syngas.
  • RenewCO2, from Somerset, New Jersey, is developing an electrochemical process to convert CO2 into fuels and chemicals, such as sustainable aviation fuel (SAF) or propylene glycol.
  • Seabound, from London, England, builds carbon-capture equipment for new and existing ships.

"The depth and breadth of carbontech innovations represented in this applicant pool speaks volumes to this growing and dynamic industry around the world," adds Kevin Dutt, Interim CEO of Greentown Labs. "We're eager to support these nine impressive companies as they progress through this program and look forward to seeing how they engage with the CLC now and into the future."

The C2V Initiative will host a public Year 4 kickoff event on Sept. 19 at Greentown Houston and via livestream.

Texas has some room to improve when it comes to EV states, one report found — and more things to know this week. Photo via Getty Images

Texas loses speed among top EV states, apps open for Greentown program, and more things to know this week

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Editor's note: Dive headfirst into the new week with three quick things to catch up on in Houston's energy transition: applications for a Greentown Labs program has opened, Texas falls flat on a ranking of best EV states, and more.

Texas puts it in park near the bottom of list of best states for EV drivers

You’d think that producing tens of thousands of Teslas might help drive up Texas’ standing among the best states for owning an electric vehicle. To the contrary, Texas ranks among the worst states to be an EV owner.

A new list from EV Charger Reviews puts Texas in the No. 2 position among the worst states for owning an EV. Washington leads the pack of the worst EV states. Topping the list of the best states for EV owners is Maine, followed by Colorado and Vermont. Read more about the methodology.

Big deal: GridBeyond's $55M series C 

GridBeyond,which has its U.S. headquarters in Houston, raised its series C to support its growth in the the United States.

The round closed at €52 million, or around $55 million. 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." Read more details about the round.

Greentown Labs opens C2V Initiative apps

For the fourth year, the Carbon to Value Initiative, a multi-year collaboration from the Urban Future Lab at NYU Tandon School of Engineering, Greentown Labs, and Fraunhofer USA — has opened applications. The program is looking for "startups at Technology Readiness Level 4-7 that are developing carbontech innovations related to carbon conversion to added-value products; carbon capture; and carbon sequestration and removal," according to Greentown.

The selected cohort will have access to the C2V Initiative’s CLC, an invitation-only group of corporate, nonprofit, and government thought leaders across the energy industry. Startups will also each receive a $10,000 stipend to support their participation in the accelerator. Applications are open through June 21, 2024. To learn more about the program or to apply, click here.

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Oxy subsidiary granted landmark EPA permits for carbon capture facility

making progress

Houston’s Occidental Petroleum Corp., or Oxy, and its subsidiary 1PointFive announced that the U.S Environmental Protection Agency approved its Class VI permits to sequester carbon dioxide captured from its STRATOS Direct Air Capture (DAC) facility near Odessa. These are the first such permits issued for a DAC project, according to a news release.

The $1.3 billion STRATOS project, which 1PointFive is developing through a joint venture with investment manager BlackRock, is designed to capture up to 500,000 metric tons of CO2 annually and is expected to begin commercial operations this year. DAC technology pulls CO2 from the air at any location, not just where carbon dioxide is emitted. Major companies, such as Microsoft and AT&T, have secured carbon removal credit agreements through the project.

The permits are issued under the Safe Drinking Water Act's Underground Injection Control program. The captured CO2 will be stored in geologic formations more than a mile underground, meeting the EPA’s review standards.

“This is a significant milestone for the company as we are continuing to develop vital infrastructure that will help the United States achieve energy security,” Vicki Hollub, Oxy president and CEO, said in a news release.“The permits are a catalyst to unlock value from carbon dioxide and advance Direct Air Capture technology as a solution to help organizations address their emissions or produce vital resources and fuels.”

Additionally, Oxy and 1PointFive announced the signing of a 25-year offtake agreement for 2.3 million metric tons of CO2 per year from CF Industries’ upcoming Bluepoint low-carbon ammonia facility in Ascension Parish, Louisiana.

The captured CO2 will be transported to and stored at 1PointFive’s Pelican Sequestration Hub, which is currently under development. Eventually, 1PointFive’s Pelican hub in Louisiana will include infrastructure to safely and economically sequester industrial emissions in underground geologic formations, similar to the STRATOS project.

“CF Industries’ and its partners' confidence in our Pelican Sequestration Hub is a validation of our expertise managing carbon dioxide and how we collaborate with industrial organizations to become their commercial sequestration partner,” Jeff Alvarez, President of 1PointFive Sequestration, said in a news release.

1PointFive is storing up to 20 million tons of CO2 per year, according to the company.

“By working together, we can unlock the potential of American manufacturing and energy production, while advancing industries that deliver high-quality jobs and economic growth,” Alvarez said in a news release.

Houston energy-focused AI platform raises $5M in Mercury-led seed round

fresh funding

Houston-based Collide, a provider of generative artificial intelligence for the energy sector, has raised $5 million in seed funding led by Houston’s Mercury Fund.

Other investors in the seed round include Bryan Sheffield, founder of Austin-based Parsley Energy, which was acquired by Dallas-based Pioneer Natural Resources in 2021; Billy Quinn, founder and managing partner of Dallas-based private equity firm Pearl Energy Investments; and David Albin, co-founder and former managing partner of Dallas-based private equity firm NGP Capital Partners.

“(Collide) co-founders Collin McLelland and Chuck Yates bring a unique understanding of the oil and gas industry,” Blair Garrou, managing partner at Mercury, said in a news release. “Their backgrounds, combined with Collide’s proprietary knowledge base, create a significant and strategic moat for the platform.”

Collide, founded in 2022, says the funding will enable the company to accelerate the development of its GenAI platform. GenAI creates digital content such as images, videos, text, and music.

Originally launched by Houston media organization Digital Wildcatters as “a professional network and digital community for technical discussions and knowledge sharing,” the company says it will now shift its focus to rolling out its enterprise-level, AI-enabled solution.

Collide explains that its platform gathers and synthesizes data from trusted sources to deliver industry insights for oil and gas professionals. Unlike platforms such as OpenAI, Perplexity, and Microsoft Copilot, Collide’s platform “uniquely accesses a comprehensive, industry-specific knowledge base, including technical papers, internal processes, and a curated Q&A database tailored to energy professionals,” the company said.

Collide says its approximately 6,000 platform users span 122 countries.

CenterPoint reports progress on grid improvements ahead of 2025 hurricane season

grid resilience

As part of an ongoing process to make Houston better prepared for climate disasters, CenterPoint Energy announced its latest progress update on the second phase of the Greater Houston Resiliency Initiative (GHRI).

CenterPoint reported that it has completed 70 percent of its resiliency work and all GHRI-related actions are expected to be complete before the official start of the 2025 hurricane season.

"Our entire CenterPoint Houston Electric team is focused on completing this historic suite of grid resiliency actions before the start of hurricane season,” Darin Carroll, Senior Vice President of CenterPoint's Electric Business, said in a news release. “That is our goal, and we will achieve it. To date, we have made significant progress as part of this historic effort.”

CenterPoint’s resiliency solutions include clearing higher-risk vegetation across thousands of miles of power lines, adding thousands more automation devices capable of self-healing, installing thousands of storm-resistant poles, and undergrounding hundreds of miles of power lines.

CenterPoint's GHRI efforts, which entered a second phase in September 2024, aim to improve overall grid resiliency and reliability and are estimated to reduce outages for customers by more than 125 million minutes annually, according to the company. It has undergrounded nearly 350 miles of power lines, about 85 percent of the way toward its target of 400 miles, which will help improve resiliency and reduce the risk of outages. CenterPoint also aims to install the first of 100 new local weather monitoring stations by June 1.

In March, CenterPoint cleared 655 miles of high-risk vegetation near power lines, installed 1,215 automated reliability devices capable of self-healing, and added an additional 3,300 storm-resilient poles.

In April, CenterPoint will begin building a network of 100 new weather monitoring stations, which will provide 24/7 weather monitoring and storm response preparation.

“We will continue to work every day to complete these critical improvements as part of our company's goal of building the most resilient coastal grid in the country,” Carroll added in the release.