Movers and shakers: Top executive moves in Houston energy transition of 2024

year in review

Promotions, corporate ladder climbing, and other top mover and shaker stories on EnergyCapital this year. Photos courtesy

Editor's note: As the year comes to a close, EnergyCapital is looking back at the year's top stories in Houston energy transition. From new board seats to internal promotions, this year marked a big one for some of Houston's energy leaders. Here were the top five most-read articles covering the mover and shaker news of 2024 — be sure to click through to read the full story.

Growing Houston biotech company expands leadership as it commercializes sustainable products

Nádia Skorupa Parachin joined Cemvita as vice president of industrial biotechnology. Photo courtesy of Cemvita

Houston-based biotech company Cemvita recently tapped two executives to help commercialize its sustainable fuel made from carbon waste.

Nádia Skorupa Parachin came aboard as vice president of industrial biotechnology, and Phil Garcia was promoted to vice president of commercialization.

Parachin most recently oversaw several projects at Boston-based biotech company Ginkjo Bioworks. She previously co-founded Brazilian biotech startup Integra Bioprocessos. Continue reading.

California geothermal co. grows C-suite, grows presence in Houston

XGS has leased 10,000 square feet of office space in Houston. Photo via Getty Images

A geothermal company with its headquarters in Palo Alto, California, has named new members of its C-suite and, at the same time, has expanded its operational footprint in Houston.

XGS Energy promoted Axel-Pierre Bois to CTO and Lucy Darago to chief commercial officer. Darago is based in Austin, and Bois, from France, lists his role as based in Houston on LinkedIn. Both have worked at XGS since February of last year.

“Axel and Lucy’s proven operational excellence and technical knowledge has helped propel XGS forward as we enter our next phase of growth,” Josh Prueher, CEO of XGS Energy, says in a news release. “I’m thrilled to have them both join XGS’ C-suite and have their support as we continue to grow our team, further advance our next-generation geothermal technology, and invest in our multi-gigawatt project pipeline.” Continue reading.

CenterPoint names 40-year industry veteran as exec for emergency response

Don Daigler will be tasked to lead CenterPoint Energy's yearly work in preparation for, response to and recovery from all emergencies, which includes both natural disasters and man-made events. Photo via CenterPoint Energy/LinkedIn

CenterPoint Energy announced the hiring of industry veteran Don Daigler as the new senior vice president of CenterPoint’s Emergency Preparedness and Response.

Daigler will be tasked to lead the company’s yearly work in preparation for, response to and recovery from all emergencies, which includes both natural disasters and man-made events. Daigler and his team will coordinate with all public safety partners.

“I’m pleased to join CenterPoint Energy and lead its Emergency Preparedness and Response team to transform how we prepare, mitigate and respond to the impacts of hurricanes, extreme weather and other emergencies,” Daigler says in a news release. ”The year-round work of our team will help position CenterPoint to deliver the service our customers expect and deserve before, during and after emergencies when the need is greatest.” Continue reading.

Houston private equity professional tapped to lead growth development at firm focused on decarbonization

Climate Investment announced Patrick Yip will lead the firm's growth investment strategy as managing director, head of growth. Photo via LinkedIn

A London-based energy transition investment firm has named a new Houston-based leader.

Climate Investment announced Patrick Yip will lead the firm's growth investment strategy as managing director, head of growth. In his new role, he will oversee the development of CI’s growth-stage portfolio, including deal sourcing, operational function of strategy, and working with the team that manages the firm's early-stage Catalyst program. He reports to the CEO, Pratima Rangarajan.

“We are excited to welcome Patrick to Climate Investment,” Rangarajan says in a news release. “The decarbonization investment opportunity continues to grow rapidly, and Patrick’s extensive experience will help us capitalize on that. He will also provide leadership and develop the market partnerships that will drive our growth investment strategy forward, playing a key role in supporting portfolio market adoption and accelerating the next stage of development for CI.” Continue reading.

Firm hires top Houston-based energy banker to grow energy transition team

Top Houston banker Stephen Trauber has joined publicly traded investment bank Moelis & Co. Image via Shutterstock

Houston energy dealmaker Stephen Trauber has been tapped as chairman and global head of the energy and clean technology business at publicly traded investment bank Moelis & Co.

In 2010, The Wall Street Journal called Trauber “one of the best-connected energy bankers in Houston.”

Trauber comes to New York City-based Moelis from Citi, where he recently retired as vice chairman and global co-head of natural resources and clean energy transition. Before that, he was vice chairman and global head of energy at UBS Investment Bank, where he worked with Ken Moelis, who’s now chairman and CEO of Moelis. Continue reading.

While our grid may be showing its age, this is the perfect time to shift from reacting to problems to getting ahead of them.

Reshaping the Texas grid: The impact of EVs, AI, renewables, and extreme weather

guest column

Did you catch those images of idle generators that CenterPoint had on standby during Hurricane Beryl? With over 2 million people in the Houston area left in the dark, many were wondering, "if the generators are ready, why didn’t they get used?" It seems like power outages are becoming just as common as the severe storms themselves.

But as Ken Medlock, Senior Director of the Baker Institute Center for Energy Studies (CES) explains, it's not a simple fix. The outages during Hurricane Beryl were different from what we saw during Winter Storm Uri. This time, with so many poles and wires down, those generators couldn’t be put to use. It’s a reminder that each storm brings its own set of challenges, and there’s no one-size-fits-all solution when it comes to keeping the lights on. While extreme weather is one of the leading threats to our electric grid, it's certainly not the only one adding strain on our power infrastructure.

The rapid rise of artificial intelligence (AI) and electric vehicles (EVs) is transforming the way we live, work, and move. Beneath the surface of these technological marvels lies a challenge that could define the future of our energy infrastructure: they all depend on our electrical grid. As AI-powered data centers and a growing fleet of EVs demand more power than ever before, our grid—already under pressure from extreme weather events and an increasing reliance on renewable energy—faces a critical test. The question goes beyond whether our grid can keep up, but rather focuses on how we can ensure it evolves to support the innovations of tomorrow without compromising reliability today. The intersection of these emerging technologies with our aging energy infrastructure poses a dilemma that policymakers, industry leaders, and consumers must address.

Julie Cohn, Nonresident Fellow at the Center for Energy Studies at the Baker Institute for Public Policy, presents several key findings and recommendations to address concerns about the reliability of the Texas energy grid in her Energy Insight. She suggests there’s at least six developments unfolding that will affect the reliability of the Texas Interconnected System, operated by the Electric Reliability Council of Texas (ERCOT) and the regional distribution networks operated by regulated utilities.

Let’s dig deeper into some of these issues:

AI

AI requires substantial computational power, particularly in data centers that house servers processing vast amounts of data. These data centers consume large amounts of electricity, putting additional strain on the grid.

According to McKinsey & Company, a single hyperscale data center can consume as much electricity as 80,000 homes combined. In 2022, data centers consumed about 200 terawatt-hours (TWh), close to 4 percent, of the total electricity used in the United States and approximately 460 TWh globally. That’s nearly the consumption of the entire State of Texas, which consumed approximately 475.4 TWh of electricity in the same year. However, this percentage is expected to increase significantly as demand for data processing and storage continues to grow. In 2026, data centers are expected to account for 6 percent, almost 260 TWh, of total electricity demand in the U.S.

EVs

According to the Texas Department of Motor Vehicles, approximately 170,000 EVs have been registered across the state of Texas as of 2023, with Texas receiving $408 million in funding to expand its EV charging network. As Cohn suggests, a central question remains: Where will these emerging economic drivers for Texas, such as EVs and AI, obtain their electric power?

EVs draw power from the grid every time they’re plugged in to charge. This may come as a shock to some, but “the thing that’s recharging EV batteries in ERCOT right now, is natural gas,” says Medlock. And as McKinsey & Company explains, the impact of switching to EVs on reducing greenhouse gas (GHG) emissions will largely depend on how much GHG is produced by the electricity used to charge them. This adds a layer of complexity as regulators look to decarbonize the power sector.

Depending on the charger, a single EV fast charger can pull anywhere from 50 kW to 350 kW of electricity per hour. Now, factor in the constant energy drain from data centers, our growing population using power for homes and businesses, and then account for the sudden impact of severe environmental events—which have increased in frequency and intensity—and it’s clear: Houston… we have a problem.

The Weather Wildcard

Texas is gearing up for its 2025 legislative session on January 14. The state's electricity grid once again stands at the forefront of political discussions. The question is not just whether our power will stay on during the next winter storm or scorching summer heatwave, but whether our approach to grid management is sustainable in the face of mounting challenges. The events of recent years, from Winter Storm Uri to unprecedented heatwaves, have exposed significant vulnerabilities in the Texas electricity grid, and while legislative measures have been taken, they have been largely patchwork solutions.

Winter Storm Uri in 2021 was a wake-up call, but it wasn’t the first or last extreme weather event to test the Texas grid. With deep freezes, scorching summers, and unpredictable storms becoming the norm rather than the exception, it is clear that the grid’s current state is not capable of withstanding these extremes. The measures passed in 2021 and 2023 were steps in the right direction, but they were reactive, not proactive. They focused on strengthening the grid against cold weather, yet extreme heat, a more consistent challenge in Texas, remains a less-addressed threat. The upcoming legislative session must prioritize comprehensive climate resilience strategies that go beyond cold weather prep.

“The planners for the Texas grid have important questions to address regarding anticipated weather extremes: Will there be enough energy? Will power be available when and where it is needed? Is the state prepared for extreme weather events? Are regional distribution utilities prepared for extreme weather events? Texas is not alone in facing these challenges as other states have likewise experienced extremely hot and dry summers, wildfires, polar vortexes, and other weather conditions that have tested their regional power systems,” writes Cohn.

Renewable Energy and Transmission

Texas leads the nation in wind and solar capacity (Map: Energy, Environment, and Policy in the US), however the complexity lies in getting that energy from where it’s produced to where it’s needed. Transmission lines are feeling the pressure, and the grid is struggling to keep pace with the rapid expansion of renewables. In 2005, the Competitive Renewable Energy Zones (CREZ) initiative showed that state intervention could significantly accelerate grid expansion. With renewables continuing to grow, the big question now is whether the state will step up again, or risk allowing progress to stall due to the inadequacy of the infrastructure in place. The legislature has a choice to make: take the lead in this energy transition or face the consequences of not keeping up with the pace of change.

Conclusion

The electrical grid continues to face serious challenges, especially as demand is expected to rise. There is hope, however, as regulators are fully aware of the strain. While our grid may be showing its age, this is the perfect time to shift from reacting to problems to getting ahead of them.

As Cohn puts it, “In the end, successful resolution of the various issues will carry significant benefits for existing Texas industrial, commercial, and residential consumers and have implications for the longer-term economic attractiveness of Texas. Suffice it to say, eyes will be, and should be, on the Texas legislature in the coming session.”

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Scott Nyquist is a senior advisor at McKinsey & Company and vice chairman, Houston Energy Transition Initiative of the Greater Houston Partnership. The views expressed herein are Nyquist's own and not those of McKinsey & Company or of the Greater Houston Partnership. This article originally ran on LinkedIn on September 11, 2024.

Governor Abbott said he was sending a letter to the Public Utility Commission of Texas requiring it to investigate why restoration has taken so long and what must be done to fix it. Photo via X/Governor Abbott

Texas Gov. Greg Abbott demands answers from Houston power company following Beryl

investigation incoming

With around 270,000 homes and businesses still without power in the Houston area almost a week after Hurricane Beryl hit Texas, Gov. Greg Abbott on Sunday said he's demanding an investigation into the response of the utility that serves the area as well as answers about its preparations for upcoming storms.

“Power companies along the Gulf Coast must be prepared to deal with hurricanes, to state the obvious,” Abbott said at his first news conference about Beryl since returning to the state from an economic development trip to Asia.

While CenterPoint Energy has restored power to about 2 million customers since the storm hit on July 8, the slow pace of recovery has put the utility, which provides electricity to the nation’s fourth-largest city, under mounting scrutiny over whether it was sufficiently prepared for the storm that left people without air conditioning in the searing summer heat.

Abbott said he was sending a letter to the Public Utility Commission of Texas requiring it to investigate why restoration has taken so long and what must be done to fix it. In the Houston area, Beryl toppled transmission lines, uprooted trees and snapped branches that crashed into power lines.

With months of hurricane season left, Abbott said he's giving CenterPoint until the end of the month to specify what it'll be doing to reduce or eliminate power outages in the event of another storm. He said that will include the company providing detailed plans to remove vegetation that still threatens power lines.

Abbott also said that CenterPoint didn't have “an adequate number of workers pre-staged" before the storm hit.

Following Abbott's news conference, CenterPoint said its top priority was “power to the remaining impacted customers as safely and quickly as possible,” adding that on Monday, the utility expects to have restored power to 90% of its customers. CenterPoint said it was committed to working with state and local leaders and to doing a “thorough review of our response.”

CenterPoint also said Sunday that it’s been “investing for years” to strengthen the area’s resilience to such storms.

The utility has defended its preparation for the storm and said that it has brought in about 12,000 additional workers from outside Houston. It has said it would have been unsafe to preposition those workers inside the predicted storm impact area before Beryl made landfall.

Brad Tutunjian, vice president for regulatory policy for CenterPoint Energy, said last week that the extensive damage to trees and power poles hampered the ability to restore power quickly.

A post Sunday on CenterPoint's website from its president and CEO, Jason Wells, said that over 2,100 utility poles were damaged during the storm and over 18,600 trees had to be removed from power lines, which impacted over 75% of the utility's distribution circuits.

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Meta to buy all power from new ENGIE Texas solar farm

power purchase

Meta, the parent company of social media platform Facebook, has agreed to buy all of the power from a $900 million solar farm being developed near Abilene by Houston-based energy company ENGIE North America.

The 600-megawatt Swenson Ranch solar farm, located in Stonewall County, will be the largest one ever built in the U.S. by ENGIE. The solar farm is expected to go online in 2027.

Meta will use electricity generated by the solar farm to power its U.S. data centers. All told, Meta has agreed to purchase more than 1.3 gigawatts of renewable energy from four ENGIE projects in Texas.

“This project marks an important step forward in the partnership between our two companies and their shared desire to promote a sustainable and competitive energy model,” Paulo Almirante, ENGIE’s senior executive vice president of renewable and flexible power, said in a news release.

In September, ENGIE North America said it would collaborate with Prometheus Hyperscale, a developer of sustainable liquid-cooled data centers, to build data centers at ENGIE-owned renewable energy and battery storage facilities along the I-35 corridor in Texas. The corridor includes Austin, Dallas-Fort Worth, San Antonio and Waco.

The first projects under the ENGIE-Prometheus umbrella are expected to go online in 2026.

ENGIE and Prometheus said their partnership “brings together ENGIE's deep expertise in renewables, batteries, and energy management and Prometheus' highly efficient liquid-cooled data center design to meet the growing demand for reliable, sustainable compute capacity — particularly for AI and other high-performance workloads.”

Fervo named to prestigious list of climate tech companies to watch

top honor

Houston-based Fervo Energy has received yet another accolade—MIT Technology Review named the geothermal energy startup to its 2025 list of the 10 global climatetech companies to watch.

Fervo, making its second appearance on the third annual list, harnesses heat from deep below the ground to generate clean geothermal energy, MIT Technology Review noted. Fervo is one of four U.S. companies to land on the list.

Fervo “uses fracking techniques to create geothermal reservoirs capable of delivering enough electricity to power massive data centers and hundreds of thousands of homes,” MIT Technology Review said.

MIT Technology Review said it produces the annual list to draw attention to promising climatetech companies that are working to decarbonize major sectors of the economy.

“Though the political and funding landscape has shifted dramatically in the US since the last time we put out this list,” MIT Technology Review added, “nothing has altered the urgency of the climate dangers the world now faces — we need to rapidly curb greenhouse gas emissions to avoid the most catastrophic impacts of climate change.”

In addition to MIT Technology Review’s companies-to-watch list, Fervo has appeared on similar lists published by Inc.com, Time magazine and Climate Insider.

In an essay accompanying MIT Technology Review’s list, Microsoft billionaire Bill Gates said his Breakthrough Energy Ventures investment group has invested in more than 150 companies, including Fervo and another company on the MIT Technology Review list, Redwood Materials.

In his essay, Gates wrote that ingenuity is the best weapon against climate change.

Yet climate technology innovations “offer more than just a public good,” he said. “They will remake virtually every aspect of the world’s economy in the coming years, transforming energy markets, manufacturing, transportation, and many types of industry and food production. Some of these efforts will require long-term commitments, but it’s important that we act now. And what’s more, it’s already clear where the opportunities lie.”

In a recent blog post highlighting Fervo, Gates predicted geothermal will eventually supply up to 20 percent of the world’s electricity, up from his previous estimate of as much as 5 percent.

Fervo is one of the pioneers in geothermal energy. Gates and other investors have pumped $982 million into Fervo since its founding in 2017. With an estimated valuation of $1.4 billion, Fervo has achieved unicorn status, meaning its valuation as a private company exceeds $1 billion.

Aside from Breakthrough Energy Ventures, oilfield services provider Liberty Energy is a Fervo investor. U.S. Energy Secretary Chris Wright was chairman and CEO of Denver-based Liberty Energy before assuming his federal post.

Axios reported on Oct. 1 that Fervo is raising a $300 million series E round, which would drive up the startup’s valuation. News of the $300 million round comes as the company gears up for a possible IPO, according to Axios.

Fervo co-founder and CEO Tim Latimer told Axios this spring that a potential IPO is likely in 2026 or 2027. Ahead of an IPO, the startup is aiming for a $2 billion to $4 billion valuation, Axios reported.

The first phase of Fervo’s marquee Cape Station geothermal energy plant in Utah is scheduled to go online next year, with the second phase set to open in 2028. Once it’s completed, the plant will be capable of generating 500 megawatts of power. This summer, the startup said it secured $205.6 million in capital to finance construction of the plant.

Rice University team develops eco-friendly method to destroy 'forever chemicals' in water

clean water research

Rice University researchers have teamed up with South Korean scientists to develop the first eco-friendly technology that captures and destroys toxic “forever chemicals,” or PFAS, in water.

PFAS have been linked to immune system disruption, certain cancers, liver damage and reproductive disorders. They can be found in water, soil and air, as well as in products like Teflon pans, waterproof clothing and food packaging. They do not degrade easily and are difficult to remove.

Thus far, PFAS cleanup methods have relied on adsorption, in which molecules cling to materials like activated carbon or ion-exchange resins. But these methods tend to have limited capacity, low efficiency, slow performance and can create additional waste.

The Rice-led study, published in the journal Advanced Materials, centered on a layered double hydroxide (LDH) material made from copper and aluminum that could rapidly capture PFAS and be used to destroy the chemicals.

The study was led by Rice professor Youngkun Chung, a postdoctoral fellow under the mentorship of Michael S. Wong. It was conducted in collaboration with Seoktae Kang, professor at the Korea Advanced Institute of Science and Technology, and Keon-Ham Kim, professor at Pukyung National University, who first discovered the LDH material.

The team evaluated the LDH material in river water, tap water and wastewater. And, according to Rice, that material’s unique copper-aluminum layers and charge imbalances created an ideal binding environment to capture PFAS molecules.

“To my astonishment, this LDH compound captured PFAS more than 1,000 times better than other materials,” Chung, lead author of the study and now a fellow at Rice’s WaTER (Water Technologies, Entrepreneurship and Research) Institute and Sustainability Institute, said in a news release. “It also worked incredibly fast, removing large amounts of PFAS within minutes, about 100 times faster than commercial carbon filters.”

Next, Chung, along with Rice professors Pedro Alvarez and James Tour, worked to develop an eco-friendly, sustainable method of thermally decomposing the PFAS captured on the LDH material. They heated saturated material with calcium carbonate, which eliminated more than half of the trapped PFAS without releasing toxic by-products.

The team believes the study’s results could potentially have large-scale applications in industrial cleanups and municipal water treatments.

“We are excited by the potential of this one-of-a-kind LDH-based technology to transform how PFAS-contaminated water sources are treated in the near future,” Wong added in the news release. “It’s the result of an extraordinary international collaboration and the creativity of young researchers.”

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This article originally appeared on our sister site, InnovationMap.

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