Houston climatech company signs on to massive carbon capture project in Malaysia

big deal

HYCO1 has signed an agreement to convert 1 million tons per year of raw CO2 into industrial-grade syngas at a new carbon capture project in Malaysia. Photo via Getty Images.

Houston-based CO2 utilization company HYCO1 has signed a memorandum of understanding with Malaysia LNG Sdn. Bhd., a subsidiary of Petronas, for a carbon capture project in Malaysia, which includes potential utilization and conversion of 1 million tons of carbon dioxide per year.

The project will be located in Bintulu in Sarawak, Malaysia, where Malaysia LNG is based, according to a news release. Malaysia LNG will supply HYCO1 with an initial 1 million tons per year of raw CO2 for 20 years starting no later than 2030. The CCU plant is expected to be completed by 2029.

"This is very exciting for all stakeholders, including HYCO1, MLNG, and Petronas, and will benefit all Malaysians," HYCO1 CEO Gregory Carr said in the release. "We approached Petronas and MLNG in the hopes of helping them solve their decarbonization needs, and we feel honored to collaborate with MLNG to meet their Net Zero Carbon Emissions by 2050.”

The project will convert CO2 into industrial-grade syngas (a versatile mixture of carbon monoxide and hydrogen) using HYCO1’s proprietary CUBE Technology. According to the company, its CUBE technology converts nearly 100 percent of CO2 feed at commercial scale.

“Our revolutionary process and catalyst are game changers in decarbonization because not only do we prevent CO2 from being emitted into the atmosphere, but we transform it into highly valuable and usable downstream products,” Carr added in the release.

As part of the MoU, the companies will conduct a feasibility study evaluating design alternatives to produce low-carbon syngas.

The companies say the project is expected to “become one of the largest CO2 utilization projects in history.”

HYCO1 also recently announced that it is providing syngas technology to UBE Corp.'s new EV electrolyte plant in New Orleans. Read more here.

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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

Houston financial services firm brings onboard energy veteran

who's who

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.”

Lisa Bromiley has joined Cemvita as CFO. Photo courtesy of Cemvita

Houston sustainable biotech company names new CFO

new hire

A growing Houston carbon utilization company has named its newest C-suite member.

Lisa Bromiley has joined Cemvita as CFO. Bromiley will work on spearheading capital markets, strategic positioning, and financial management of the company.

"We are thrilled to welcome Lisa Bromiley to Cemvita as our CFO,” Moji Karimi, CEO of Cemvita, says in a news release. “She joins us at an inflection point in our growth trajectory and I’m confident that Lisa's strategic financial acumen will play a pivotal role in driving Cemvita's continued success.”

Bromiley brings over two decades of experience in energy and commodity-related finance. She previously played a key role in the development of Flotek Industries Inc. and assisted Northern Oil and Gas, Inc. to achieve a market capitalization of $4 billion. Bromiley holds a Master of Professional Accounting and a Bachelor of Business Administration from the University of Texas. She is also a certified public accountant.

"As the new CFO of Cemvita, I'm very excited to lead the company through a crucial expansion in 2024,” Bromiley says in the news release. “We're moving swiftly from development to commercialization, using our patented microbes to produce sustainable feedstocks from carbon waste. I believe our core mission to recycle carbon waste, including CO2, for profitable industrial feedstock production is vital for a more sustainable world."

Cemvita’s eCO2 recently helped garner the Houston company its spot in the Sustainable Aviation Challenge. The eCO2™ takes waste streams and carbon dioxide and uses them to produce valuable materials like plastics,proteins, and fuel feedstock through microbiology. Cemvita also plans to remove 250 million tons per year from the atmosphere by 2050.

Gautam Phanse of Chevron Technology Ventures answers questions about this unique program. Photo courtesy

Q&A: Chevron's unique clean energy studio role in Houston entrepreneur community

matchmaking innovation

A new program from Houston-based Chevron Technology Ventures is rethinking how best to commercialize research-based technology.

This spring, Chevron Studio announced its second cohort of its program that matches entrepreneurs with promising technologies coming out of universities and labs. The overall goal of the studio — a collaboration between Chevron and the National Renewable Energy Laboratory, or NREL — is to scale up and commercialize early-stage technologies that have the potential to impact the future of energy.

Once selected, there are three phases of the program. After the entrepreneur applications closed in March, the first step was matching the selected entrepreneurs with the inventors of the selected intellectual properties, which will occurs over three to four months. The next phase includes scaling up the product — something that will take one to two years, depending on the tech. The last step would be a trial or a pilot program that includes rolling out a minimum viable product at commercial scale at Chevron or an affiliate. The next cohort application period will open next month.

Gautam Phanse is the strategic relationship manager for Chevron Technology Ventures. He joins InnovationMap for a Q&A to explain more about the opportunity.

What types of technologies is Chevron looking to bring into commercialization through this program? How is the program different from existing accelerators/incubators/etc.?

Gautam Phanse: Chevron Technology Ventures brings external innovation to Chevron. Key focus areas for CTV are industrial decarbonization, emerging mobility, energy decentralization, and the growing circular carbon economy. Chevron Studio is one of the tools to achieve this goal. The current focus areas for Chevron Studio are: carbon utilization, hydrogen and renewable energy, energy storage systems, and solutions for circular economy. These focus areas will be reviewed every year and additional areas could be brought into the mix.

The goal of Chevron Studio is to scale up and commercialize technology developed in the Universities and National Labs. We curate the intellectual property developed at universities and national labs and provide a platform to match entrepreneurs with the IP. The program provides seed funding and a pathway through incubation, pilot and field trials to scale up the technologies. The uniqueness of this program is its target and the breadth of its scope — all the way from incubation to field trials.

How does Chevron Technology Ventures and the National Renewable Energy Laboratory collaborate on this project? What role does each entity play?

GP: CTV has a long history of supporting innovation and the startup community. And over the years we’ve seen the consistent gaps and the struggles that the startup companies have in scaling up technologies. We also have a long history of working with national labs and universities and have seen the challenges in getting these technologies out of the labs. The idea for Chevron Studio grew out of these challenges.

NREL’s Innovation and Entrepreneurship Center manages Chevron Studio, working closing with entrepreneurs and guiding them through the program while leveraging capabilities at the lab and activating the IEC’s network of cleantech startups, investors, foundations, and industry partners.

What are you looking for from the entrepreneur applicants? Who should apply?

GP: We are looking for entrepreneurs who are seeking their next opportunity. They should have a passion in lower carbon solutions and the patience to work on early-stage technologies to see them through scale up and commercialization. Aspiring entrepreneurs with demonstrated passion are also welcome to apply. The entrepreneurs are expected to build a team, raise funds and grow the business providing competitive solutions to the industry.

Tell me about cohort 1. How did it go and what were the participants able to accomplish?

GP: We were really excited about the response we got from both the entrepreneur community and the universities and national labs. We had a strong pool of entrepreneurs and a great mix of IP and frankly had a tough time making the selection. The first cohort had four entrepreneurs in the initial discovery phase. Some of them have now graduated, and we will be announcing the participants in the next phase — for scaling up — shortly.

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This conversation has been edited for brevity and clarity. This article originally ran on InnovationMap.

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Rice University spinouts named among 50 top cleantech companies to watch

green team

Two Rice University spinouts, Coflux Purification and DexMat, appear on a new list of the world’s 50 cleantech companies to watch.

Cleantech Group’s 2026 Cleantech 50 to Watch list recognizes early-stage companies “creating groundbreaking solutions to address some of the world’s most pressing environmental and sustainability challenges.”

Cleantech Group, a market research, consulting, and events company, selects the 50 honorees based on insights from analysts and early-stage innovators, along with public nominations.

Destroying “forever chemicals”

Coflux, founded in 2024, offers an onsite treatment system that captures and destroys manufactured “forever chemicals”—per- and polyfluoroalkyl substances—in water and wastewater. It’s a member of Greentown Houston.

Alec Ajnsztajn, CEO; Jeremy Daum, chief technology officer; and Dana Vazquez, chief commercial officer, co-founded Coflux. Ajnsztajn and Daum earned doctoral degrees from Rice, and Vazquez earned an MBA from the university.

Coflux spun out of Rice labs directed by professors Rafael Verduzco and Pulickel Ajayan.

Last year, Coflux received a $175,000 grant from the U.S. Food and Drug Administration’s National Institute of Food and Agriculture. The startup has also raised more than $500,000 in non-dilutive funding, including $80,000 awarded in 2024 by Rice’s One Small Step Grant program.

Promoting an alternative to copper

DexMat, founded in 2015, produces carbon nanotube products such as fibers, yarns, cables, and fabric. The company’s products address demand for materials that can reduce carbon emissions, according to CB Insights.

Its main product, Galvorn, is a copper alternative made of carbon nanotube fibers. CB Insights says Galvorn is engineered to be lighter and stronger than traditional conductive materials like carbon and steel. It’s used in industries such as energy, aerospace, defense, automotive, consumer electronics, and health care.

DexMat emerged from Matteo Pasquali’s Carbon Lab at Rice. Pasquali, co-founder of DexMat, co-invented the company’s technology with the late Nobel Prize-winning chemist Rick Smalley. Smalley was a professor of chemistry, physics, and astronomy at Rice.

Pasquali is a professor of chemical and biomolecular engineering, chemistry, materials science, and nanoengineering at Rice. He co-founded DexMat with Rice graduate Dmitri Tsentalovich, the company’s director of product innovation.

Earlier this year, DexMat raised $5 million in seed funding from Non Sibi Ventures, Governance Partners, Tailwind Futures, BetterWay, Capital Factory, and other investors. The company also secured $3 million in non-dilutive funding.

In 2023, DexMat raised $3 million in a pre-seed round led by Shell Ventures.

Stardust Power, Power Electronics expand to Houston and more top energy news

Trending News

Editor's note: October brings big updates for the energy transition sector, with two companies expanding to Houston and two more announcing major funding. Here are the five most-read stories published on EnergyCapital from September 30-October 15, 2026:

Lithium refiner expands into Houston with new Energy Corridor office

Battery-grade lithium carbonate manufacturer Stardust Power has expanded into Houston’s Energy Corridor, the company tells EnergyCapitalHTX. The company’s new office will serve as a project execution hub to support operations and planning for the company’s forthcoming lithium refinery in Muskogee, Oklahoma. The Greenwich, Connecticut-based, publicly traded company says the facility will be one of the largest lithium refining operations in the United States. The refinery is expected to have production capacity of up to 50,000 metric tons per year and seeks to address the critical shortage of U.S. lithium refining capacity. Continue reading.

Houston geothermal company picks Nevada site for commercial-scale project

Sage Geosystems, a Houston-based developer of geothermal power systems, has chosen a site in Nevada for its commercial-scale Project Vector facility. The company’s two-well enhanced geothermal system (EGS) will deliver around-the-clock geothermal heat to Ormat Technologies’ Blue Mountain geothermal power plant in Winnemucca, Nevada. The startup expects to begin drilling the first well later this year, with the first electricity to be generated in 2027 and full-scale production to start in 2028. Continue reading.

Houston carbon removal company secures $35M in financing

Houston-based Vaulted Deep, a waste management and carbon removal company, has announced a major $35 million debt facility from Italian investment bank Mediobanca to support its national expansion. U.K.-based market energy solutions CFP Energy arranged the deal, which is “the largest publicly disclosed U.S. commercial debt deal in durable carbon removal to be secured by long-term purchase contracts,” according to a news release from the companies. Continue reading.

Hertha Metals raises $133M Series A round, plans high-purity iron plant

Conroe-based Hertha Metals has closed a $133.65 million Series A round that includes a $65 million equity investment from the Pentagon. The startup uses a one-step process to convert iron into molten steel or high-purity iron. Khosla Ventures and Doerr Capital co-led the round, with participation from CEV, Pear Ventures, Gates Frontier, Niterra SUISO no MORI Fund, Toyota Ventures, and Siemens Financial Services. Continue reading.

European cleantech company breaks ground on Houston manufacturing site

Spanish renewable energy company Power Electronics broke ground on its new 53-acre Houston campus on Sept. 24. The new site is expected to create over 400 local jobs and deliver 40 gigawatts of production capacity per year. The company said that the campus is expected to be the largest manufacturing site for power conversion systems in the U.S. Power Electronics specializes in solar, energy storage, data centers and electrification technologies. Continue reading.

TotalEnergies expands solar joint venture with $1.2B portfolio in Texas, Ohio

solar expansion

TotalEnergies, a French company whose U.S. headquarters is in Houston, announced this month that it is expanding its renewable energy joint venture with New York-based investment firm KKR by adding 700 megawatts of utility-scale solar projects.

The deal will add three utility-scale solar assets in Texas and Ohio, which are expected to reach commercial operation by Q1 2027, according to a news release from the company. The portfolio is valued at $1.2 billion.

The 50/50 joint venture between TotalEnergies and KKR currently holds 1.4 gigawatts of renewable energy and will grow to 2.1 gigawatts.

The new deal is expected to close this year. Once completed, TotalEnergies will operate the assets. The electricity generated from the solar projects will be sold to third parties, the company reports.

The companies originally formed the joint venture about a year ago when TotalEnergies sold KKR a 50 percent stake in a North American solar portfolio valued at $1.25 billion. The deal originally included six utility-scale solar assets, primarily located in the U.S.

“TotalEnergies is a renewable energy industry leader globally, and we are thrilled to establish this joint venture with the TotalEnergies team to support their renewables business," Cecilio Velasco, managing director KKR, said in a release last year. “We have long been investors in renewables through our infrastructure platform, having committed more than $23 billion to date in energy transition investments. TotalEnergies’ North American solar portfolio is a great fit for us, representing high-quality renewable energy assets with long term contracts.”

TotalEnergies reports that by June 2026 it held more than 37 gigawatts of gross renewable power generation capacity. It aims to achieve over 100 terawatt-hours of net electricity production by 2030.

The company signed a major power purchase agreement with Google earlier this year. Through the deal, TotalEnergies will supply the tech giant with 1 gigawatt of solar power for its data centers in Texas over a 15-year span.

However, the company also recently redirected nearly $1 billion in capital away from wind energy projects and "decided to renounce offshore wind development in the United States." Read more here.

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