Chevron, TotalEnergies back energy storage startup's $15.8M series A

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LiNova will use the funds to advance its polymer cathode battery technology. Photo via Getty Images

A California startup that's revolutionizing polymer cathode battery technology has announced its series A round of funding with support from Houston-based energy transition leaders.

LiNova Energy Inc. closed a $15.8 million series A round led by Catalus Capital. Saft, a subsidiary of TotalEnergies, which has its US HQ in Houston, and Houston-based Chevron Technology Ventures, also participated in the round with a coalition of other investors.

LiNova will use the funds with its polymer cathode battery to advance the energy storage landscape, according to the company. The company uses a high-energy polymer battery technology that is designed to allow material replacement of the traditional cathode that is made up of cobalt, nickel, and other materials.

The joint development agreement with Saft will have them collaborate to develop the battery technology for commercialization in Saft's key markets.

“We are proud to collaborate with LiNova in scaling up its technology, leveraging the extensive experience of Saft's research teams, our newest prototype lines, and our industrial expertise in battery cell production," Cedric Duclos, CEO of Saft, says in a news release.

CTV recently announced its $500 million Future Energy Fund III, which aims to lead on emerging mobility, energy decentralization, industrial decarbonization, and the growing circular economy. Chevron has promised to spend $10 billion on lower carbon energy investments and projects by 2028.

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CTV has announced its newest fund to deploy capital to innovative clean energy tech. Photo via Getty Images

Chevron launches $500M clean energy fund to target low carbon fuels, advanced materials

fresh funding

Chevron Technology Ventures has announced its latest fund raised to deploy capital into clean energy technology.

CTV's Future Energy Fund III has reportedly launched with $500 million — an increase from its second fund from 2021 that was valued at $400 million. The inaugural Future Energy Fund was established in 2018. Each fund has targeted separate technologies — from capture, emerging mobility, and energy storage in fund I to industrial decarbonization, emerging mobility, energy decentralization, and circular economy in fund II.

"Future Energy Fund III, launched in 2024, will continue to look forward in the areas of focus for the earlier two funds and aims to expand investment in the areas of novel low carbon fuels, advanced materials, and transforming carbon to higher-value products," reads Chevron's website describing the Future Energy Funds.

The first two funds have invested in over 30 companies and has more than 250 other investors supporting low-carbon innovations.

CTV, based in Houston, has strategic partnerships with organizations within the Houston innovation ecosystem, including Greentown Labs, Rice Alliance for Technology and Entrepreneurship, the Ion, The Cannon, and the HX Venture Fund.

"CTV engages a range of startup companies, investors, incubators and accelerators to access technology that can be used across Chevron now and in the future to enable us to operate more efficiently, to lower the carbon intensity of our operations and launch viable new businesses," reads the CTV site.

Founded in 1999, CTV invests in emerging energy technologies as well as incubating startups in its Catalyst Program. Last month, CTV added Cerebre, a software-as-a-service company that works with its customers to unlock and leverage data to tap into AI tools and digitization, to the Catalyst Program.

Cerebre is a software-as-a-service company that works with its customers to unlock and leverage data to tap into AI tools and digitization. Photo via cerebre.io

Chevron names SaaS startup to Houston accelerator program

ready to grow

A Boston-based startup that provides software for manufacturing plants has joined a Houston-based corporate accelerator.

Cerebre, a software-as-a-service company that works with its customers to unlock and leverage data to tap into AI tools and digitization, has joined Chevron Technology Ventures as part of its Catalyst Program.

“We are thrilled and honored to be selected by Chevron as part of the Catalyst Program," Founder and CEO Jeff Robbins says in a news release. "We are witnessing an explosion and convergence of technology never seen before.

"As the world races to build AI, we have worked extensively to help companies feed their AI models with high-quality data that represents the plant and their business," he continues. "We are energized to be recognized by Chevron as having a potential role to play in the industry’s transformation.”

Founded in 2017, the Catalyst Program accelerates early-stage companies that are working to transform the energy sector. CTV launched in 1999 to support externally developed technologies and new business solution.

Houston-based Milestone Environmental Services, which provides environmental services and carbon management, named energy leader and former Chevron executive Barbara J. Burger to its board of managers. Photo courtesy

Environmental services firm names Houston energy leader to board

onboarding

Barbara Burger has joined the board of one of the largest energy waste sequestration companies.

“I am very pleased to welcome Dr. Barbara Burger to the Milestone Board and look forward to her invaluable insights and contributions,” Milestone President and CEO Gabriel Rio says in a news release. “Barbara’s impressive career in the energy industry coupled with her passion for education, sustainability, and resolving the challenges facing the energy transition will undoubtedly prove beneficial for Milestone, our customers, and our other stakeholders.”

Burger, who previously served as vice president of innovation at Chevron and president of Chevron Technology Ventures, also holds adviser roles and board positions at other innovative companies.

“I look forward to working with the Milestone team as they build on their leading environmental services business and develop an energy transition-critical carbon capture and sequestration business,” Burger adds.

Burger, who was awarded InnovationMap's inaugural Trailblazer Award in 2021, is senior adviser to Lazard, on the board of directors of Heliogen, and more. She also actively serves the National Renewable Energy Laboratory, Activate, and the Houston Symphony.

Last fall, Milestone Environmental Services announced that it has been acquired by affiliates of SK Capital Partners for an undisclosed amount.

At last year's awards program, Cemvita Factory's co-founders, Tara and Moji Karimi, accepted the award for the Green Impact Business category. This year, Moji Karimi served as a judge

18 Houston energy startups named finalists for innovation awards program

companies to watch

The 2023 Houston Innovation Awards announced its 52 finalists — a large portion of which are promising energy transition startups.

The awards program — hosted by EnergyCapital's sister site, InnovationMap, and Houston Exponential — will name its winners on November 8 at the Houston Innovation Awards. The program was established to honor the best and brightest companies and individuals from the city's innovation community.

The following startups, which all have an energy transition element to their business, received a finalist position in one or two categories.

Click here to secure your tickets to see who wins.

ALLY Energy, helping energy companies and climate startups find, develop, and retain great talent, scored two finalist positions — one in the Female-Owned Business category and the other in the Social Impact Business category.
Eden Grow Systems, next generation farming technologies, is a finalist in the People's Choice: Startup of the Year category.
Feelit Technologies, nanotechnology for preventive maintenance to eliminate leaks, fires and explosions, increase safety and reduce downtime, is a finalist in the Female-Owned Business category and the People's Choice: Startup of the Year category.
Fervo Energy, leveraging proven oil and gas drilling technology to deliver 24/7 carbon-free geothermal energy, scored two finalist positions — one in the Sustainability Business category and the other in the People's Choice: Startup of the Year category.
FluxWorks, making frictionless gearboxes for missions in any environment, is a finalist in the Hardtech Business category.
Helix Earth Technologies, decarbonizing the built environment and heavy industry, is a finalist in the Hardtech Business category.
INOVUES, re-energizing building facades through its non-invasive window retrofit innovations, making building smarter, greener, and healthier for a better and sustainable future, was named a finalist in the SustainabilityBusiness category.
Kanin Energy, helping heavy industry monetize their waste heat and decarbonize their operations, was named a finalist in the BIPOC-Owned Business and the SustainabilityBusiness categories.
Mars Materials, developing a carbon-negative pathway for carbon fiber and acrylamide production using CO2 and biomass as raw materials, is a finalist in the BIPOC-Owned Business category.
Molecule, an energy/commodity trading risk management software that provides users with an efficient, reliable, responsive platform for managing trade risk, is a finalist in the Digital Solutions Business category.
Rhythm Energy, 100 percent renewable electricity service for residential customers in Texas, is a finalist in the People's Choice: Startup of the Year category.
Sage Geosystems, a cost-effective geothermal baseload energy solution company, also innovating underground energy storage solutions, was named a finalist in the Sustainability Business category.
Solugen, decarbonizing the chemical industry, is a finalist in the Hardtech Business category.
Square Robot, applying robotic technology to eliminate the need to put people into dangerous enclosed spaces and eliminate taking tanks out of service, is a finalist in the HardtechBusiness category.
Syzygy Plasmonics, a deep decarbonization company that builds chemical reactors designed to use light instead of combustion to produce valuable chemicals like hydrogen and sustainable fuels, is a finalist in the HardtechBusiness category.
Tierra Climate, decarbonizing the power grid faster by helping grid-scale batteries monetize their environmental benefits and change their operational behavior to abate more carbon, was named a finalist in the SustainabilityBusiness category.
Utility Global, a technology company converting a range of waste gases into sustainable hydrogen and syngas, was named a finalist in the SustainabilityBusiness category.
Venus Aerospace, a hypersonics company on track to fly reusable hypersonic flight platforms by 2024, is a finalist in the HardtechBusiness category.

Additionally, two energy companies were named to the Corporate of the Year category, which honors corporations that supports startups and/or the Houston innovation community. Aramco Ventures and Chevron Technology Ventures are two of the four finalists in this category.

Lastly, Jason Ethier, co-founder of Lambda Catalyzer and host of the Energy Tech Startups podcast, and Kendrick Alridge, senior manager of community at Greentown Labs, scored finalist positions in the Ecosystem Builder category, as individuals who have acted as leaders in developing Houston’s startup ecosystem.

Click here to see the full list of finalists.

The Cannon and Chevron Technology Ventures are looking for startups that will improve operations. Photo courtesy of The Cannon

Houston organizations call for startups to pitch at unique industry event

call for companies

Two Houston organizations are collaborating on a pitch competition and event that will focus on technologies that will transform operations.

The Cannon and Chevron Technology Ventures are partnering to present "Facilities of the Future," an event taking place at The Cannon West Houston on September 21.

"For over 100 years, Chevron has been a leader in leveraging technology to reduce risk and optimize efficiency in our facilities. Facilities that span all portions of the energy value chain including distributed unconventional wells, offshore deepwater platforms, and complex processing facilities, i.e. refineries, LNG plants," reads a statement about the competition. "But we also recognize the pace of change for technology is rapidly increasing and that our greatest potential lies in our ability to capitalize on these emerging technologies."

The companies, which must have at least $25,000 in annual revenue to qualify, will be selected by CTV and The Cannon and have until September 1 to apply online. The program is seeking participants with technology addressing one or more of Chevron's goals at its facilities:

Removing people from hazardous environments (e.g., confined spaces, working at heights)
Reducing the environmental impact (e.g., leak detection, emissions monitoring),
Increasing the operational efficiency (e.g., autonomous operations, advanced inspection capabilities, predictive asset health capabilities)

Each company will conduct a five-minute pitch followed by 10 minutes of Q&A. The winner, which will be announced at the conclusion of the event, have the opportunity to work on a field trial with Chevron and six months of free workspace at The Cannon.

Tickets for the event, which will provide drinks and networking, are free and registration is available online.

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Houston-area company specializing in creating clean campuses announces new data center project

coming soon

A California AI infrastructure company has announced it's building a 200 megawatt data center in Texas and will work with The Woodlands-based Lancium, a decarbonization-focused energy technology company.

Crusoe Energy Systems LLC announced its plans to build the 200 MW data center at the Lancium Clean Campus outside Abilene, Texas. The two companies will work to bring the data center online in the coming months, reports Lancium in a news release. Once completed, the first phase will enable AI workloads at scale across 1.2 gigawatts of power capacity.

“Lancium’s mission to decarbonize compute for the most energy-intensive workloads and this scale and type of data center is game-changing,” Michael McNamara, co-founder and CEO of Lancium, says in the release. “Our energy management expertise, the integration of incremental storage and solar generation resources behind-the-meter at the campus, and Crusoe’s design approach will combine to deliver the maximum amount of green energy at the lowest possible cost, while bringing significant benefits to the Abilene community.”

Lancium's role will include "land acquisition, power interconnect, site engineering, renewables interconnect, and power orchestration," per the release. Crusoe will own and develop the data center, which is expected to go online in 2025.

“Data centers are rapidly evolving to support modern AI workloads, requiring new levels of high density rack space, direct-to-chip liquid cooling and unprecedented overall energy demands. We’ve designed this data center to enable the largest clusters of GPUs in the world to drive new breakthroughs in AI,” adds Chase Lochmiller, Crusoe’s co-founder and CEO. “Given its leadership in renewable energy and plans for the site, working with Lancium in Abilene presents a unique opportunity to sustainably power the future of AI and we’re thrilled to have the support of the city in this ambitious endeavor.”

According to the release, the project will feature direct-to-chip liquid cooling or rear-door heat exchangers and will be flexible enough to include air cooling. Once completed, each building within the data center will be able to operate up to 100,000 GPUs on a single integrated network fabric, according to the companies.

Lancium has raised $150 million since its founding in 2017, according to Crunchbase. Investors include Hanwha Solutions and SBI Group.

Houston clean hydrogen producer teams up with O&G for series of pilots

piling on pilots

Gold H2, a Houston-based producer of clean hydrogen, is teaming up with a major U.S.-based oil and gas company as the first step in launching a 12-month series of pilot projects.

The tentative agreement with the unnamed oil and gas company kicks off the availability of the startup’s Black 2 Gold microbial technology. The technology underpins the startup’s biotech process for converting crude oil into proprietary Gold Hydrogen.

The cleantech startup plans to sign up several oil and gas companies for the pilot program. Gold H2 says it’s been in discussions with companies in North America, Latin America, India, Eastern Europe and the Middle East.

The pilot program is aimed at demonstrating how Gold H2’s technology can transform old oil wells into hydrogen-generating assets. Gold H2, a spinout of Houston-based biotech company Cemvita, says the technology is capable of producing hydrogen that’s cheaper and cleaner than ever before.

“This business model will reshape the traditional oil and gas industry landscape by further accelerating the clean energy transition and creating new economic opportunities in areas that were previously dismissed as unviable,” Gold H2 says in a news release.

The start of the Black 2 Gold demonstrations follows the recent hiring of oil and gas industry veteran Prabhdeep Singh Sekhon as CEO.

“With the proliferation of AI, growth of data centers, and a national boom in industrial manufacturing underway, affordable … carbon-free energy is more paramount than ever,” says Rayyan Islam, co-founder and general partner at venture capital firm 8090 Industries, an investor in Gold H2. “We’re investing in Gold H2, as we know they’ll play a pivotal role in unleashing a new dawn for energy abundance in partnership with the oil industry.”

Column: Should companies pay for EV chargers for corporate fleets?

guest column

As electric vehicles continue to rise in popularity among corporate fleets, the question of how to best accommodate charging needs for fleet drivers, especially those taking their vehicles home, is becoming increasingly important.

Charging EV fleet vehicles at home can be an excellent strategy to save employees time and cut operational costs. However, many companies hesitate in their take-home EV implementation, mistakenly believing that high-cost level 2 home chargers are a necessity. This misconception can stall the transition to an efficient, cost-effective fleet charging solution.

By taking a thoughtful approach to employees’ individual situations, fleet managers can design a take-home EV program that fits their drivers’ needs and benefits the company’s bottom line in the long run. Here are some essential points to consider:

The viability of level 1 charging for low-mileage drivers

For many fleet drivers, especially those covering less than 10,000 miles annually, the standard level 1 charger that plugs into a 120v (standard) wall outlet and comes with their EV is perfectly adequate. This solution involves no additional hardware costs, mitigates issues when employees leave the company, and reduces corporate liability concerns. The primary advantage of relying on level 1 charging is its simplicity and cost-effectiveness, as it requires no extra investment in charging infrastructure. By leveraging the charging cable provided with the vehicle, companies can minimize their financial outlay while still supporting their employees' charging needs effectively.

Opting for non-networked level 2 chargers for high-mileage drivers

For higher mileage drivers with faster charging needs, a non-networked level 2 charger represents a compelling option. In this scenario, the employee pays for the unit and the installation and is then reimbursed by the company. This approach has several benefits:

Tax Rebates and Incentives. Employees may qualify for various tax writeoffs and incentives that are not available to companies, making the installation of a level 2 charger more affordable.
Ownership and Choice. Employees select and own the charging port, choose the contractor and pay for installation, which limits corporate liability and cuts costs.
Home Value Enhancement. Installing a level 2 charger can increase the value of the employee's home, providing them with an additional benefit and easy access to charging.
Accurate Reimbursement Still Possible. Modern electric vehicles record charging data, eliminating the need to get this information from a smart charger. Software like ReimburseEV can connect the dots and calculate accurate usage, costs and reimbursement.

This approach offers a cost-effective, lower-liability solution that benefits both the company and the employee, making it an attractive option for higher-mileage drivers.

The drawbacks of company-owned and networked chargers

Installing company-owned chargers, especially networked ones, is arguably the least favorable option for several reasons:

Increased costs and liability: The installation and maintenance of networked chargers significantly increases costs. Moreover, owning the charging infrastructure introduces liability concerns, especially regarding data security.
Connectivity and compatibility Issues: Networked chargers can suffer from connectivity issues, leading to inaccurate charging data and other operating and compliance problems.
Risk of fraud: Many smart chargers do not know which vehicle is plugged in. Thus, they also risk being used by non-fleet vehicles, further complicating cost and energy management.
Brand lock-in: A number of networked chargers are tied to specific OEM brands, limiting the flexibility in vehicle selection and potentially locking the company into a less dynamic fleet vehicle mix.

The drawbacks associated with company-owned and networked chargers underline the importance of evaluating charging needs carefully and opting for solutions that offer flexibility, reduce liability, and control costs.

Decision tree for fleet managers

Fleet managers should consider a decision tree approach to determine the most suitable charging solution for their needs. This decision-making process involves assessing the annual mileage of fleet drivers, access to charging, the benefits of tax incentives, and considering the long-term implications of charger ownership and ongoing liabilities. By adopting a thoughtful, structured approach to at-home charging decision-making, fleet managers can identify the most cost-effective and efficient charging solutions that align with their company's operational goals, culture, and drivers' needs.

Transitioning to an EV fleet and providing robust at-home charging solutions for your EV fleet drivers need not be a big operational bottleneck requiring huge investments in home charging infrastructure and installation costs. By understanding the specific operational demands of your EV fleet vehicles and the unique circumstances of your EV fleet drivers, companies can implement effective, efficient at-home charging solutions that save time, reduce costs, and minimize liability, all while supporting employees' transition to electric mobility.

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David Lewis is the founder and CEO of MoveEV, an AI-powered EV transition company that helps organizations convert fleet and employee-owned gas vehicles to electric by accurately reimbursing for charging electric vehicles at home.

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