A number of companies have officially announced their plans to discuss the future with their investment community at the upcoming conference. Photo courtesy of jpmorgan.com.

Tomorrow, leading companies from around the globe will share their 2024 financial outlook at the J.P. Morgan Energy, Power, and Renewables Conference. Although Houston is best known as the Oil and Gas capital of the world, the city presents strongly at this broader financial showcase of companies spanning the entire energy value chain, with numerous presentations originating from Houston-based organizations.

Baker Hughes Company, Crestwood Equity Partners, EOG Resources, Excelerate Energy, HESS Corporation, Oceaneering International, and TechnipFMC are just a few of the companies that have officially announced their plans to discuss the future with their investment community at the event.

In advance of the event, Bristow, a leader in offshore helicopter and search-and-rescue services around the world headquartered in Houston, released investor guidance for the coming year and made available the accompanying investor presentation for preview before their speaking spot slated for 4:30 PM ET on Wednesday, June 21, 2023.

Embedded in small print on the information-rich slide entitled, “ESG Highlights,” the company highlights continued efforts to embrace electric vertical take-off and landing vehicle (eVTOL) and electric short take-off and landing vehicle (eSTOL) investment. To date, the company counts seven partnerships in this space – all amassed over the last 18 months.

eVTOL and eSTOL aircraft, touted as more efficient and faster than ground vehicles, could change the landscape for short-distance travel for a variety of industries, ranging from delivery services of both products and personnel to local commuting. (Perhaps the family vehicle depicted in Hanna-Barbera’s futuristic cartoon from the sixties, The Jetsons, isn’t that far off, after all.)

Will any of the stars of this week’s Paris Air Mobility conference, like the newly emerged MagLev Aero, recently acquired Wisk Aero, or very busy Eve Air Mobility, be counted amongst Bristow’s latest partnerships? Tune in tomorrow to the lower-carbon livestream option to find out.

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This article originally referenced Crestwood Energy Partners. The information has been corrected above.

Businesswoman, philanthropist, educator, and entertainer Revani “Rani” Puranik discusses the convergence of sustainability and work ethos as part of the Energy Transition. Photo courtesy of ranipuranik.com

Building a modern legacy of corporate and social responsibility

QUESTIONS + ANSWERS

With a mind for business and a passion for people, one woman leads the legacy her family trailblazed in corporate social responsibility.

Revani “Rani” Puranik, named successor for the CEO of Worldwide Oilfield Machine (“WOM”) and current Chair of the Puranik Foundation, continues the institutions her parents created with the same emphasis on mindfulness, sustainability, and opportunity for all.

In addition to extending the reach of WOM’s 3,000+ employees across 10 countries–and counting–Puranik shapes future leaders and innovators of energy through The Energy Project, a program launched in 2020 by the foundation to support young minds tackling environmental challenges for sustainable development across five sectors: Alternative Power Generation, Sustainable Consumption, Waste Management, Urban Design, and Water Sustainability.

In her upcoming book, Seven Letters to My Daughters, scheduled for release on May 24th, Puranik shares lessons in love, leadership, and legacy carved out of distinct seven-year periods of her life. And if inspiring the next generation and writing a book weren’t enough, Puranik has her eyes set on building a more holistic charter school in collaboration with Baylor College of Medicine.

With just a moment to spare before she launches a new initiative, Puranik met with EnergyCapitalHTX to discuss what Energy Transition looks like from her perspective.

EnergyCapitalHTX: You’ve had an interesting career, with one foot in something very altruistic, and the other in energy–which has a reputation for being… not so altruistic, let’s say. How did you get here?

Rani Puranik: First, I'll tell you that none of it, none of it, was planned.

The 1st 17 years of my life, I lived in Houston. I went to Lamar high school thinking I was going to be an engineer. But I was on a robust and dedicated journey singing and dancing, too. I was always very active and engaged in my heritage that way.

I went to India after I graduated from high school and stayed in my parents’ vacation home, which was next to a poverty-stricken area. All I thought was, “hey, how can I help?”

And that “how can I help?“ has always turned into larger projects than I ever imagined. Before long, I was running an after-school dance program for 60 kids. But it was more than dance. These girls needed a safe space to express themselves.

EC: How did you end up back in Houston?

RP: Well, life happens. I came to Houston on a one-way ticket with $200 in my pocket. My dad was still living here in Houston, running Worldwide Machine, so I volunteered in his company to keep busy.

Finally, in 2012, I realized I’m never going to be an engineer; I graduated from Rice with an MBA in finance in 2014. And then I just dedicated my entire life to WOM, my two girls, and the Puranik Foundation my mother started when I was in India.

EC: On one hand, you're encouraging innovation around building a sustainable environment with Puranik Foundation. And with WOM, you provide offshore equipment, services, and expertise. Do you see those concepts blending as part of the energy transition?

RP: One of the core principles of WOM is “stay curious.” We have something called the Idea Factory; sometimes we get ideas that are related to sustainability and alternative energies. The people that come up with these solutions and methods are deeply involved from start to finish as part of our research and development team.

We’ve currently got a patent on a frac valve that is so much healthier for the environment. There’s no disposal of grease, there’s much less use of water and chemicals injected because of the way our frac valve operates, and the pressures and temperatures it can sustain and withhold.

We’re also looking at design, revisiting processes and asking, “how can we make this more efficient?” How can we reduce not just the emissions, but the use of oils and liquids and fuels with process improvements and enhancements for the equipment that we're manufacturing?

EC: And for the foundation?

RP: What's important for me is to understand what energy is, why it's needed, and how we can tap into it from all sources.

If younger minds can think of things like some of the students in this year’s cohort of The Energy Project– things like using human movement to not just capture, but transform, energy–we're headed in the right direction.

EC: The energy transition is increasingly branded as a transition in mindset more than anything. Mindfulness is a core tenet of your foundation, is it a part of the nine core principles of WOM you mentioned?

RP: Absolutely. I've been called an empathetic leader because I listen. And I say the first part of listening is receiving. When you receive information, you're empowering yourself with knowledge and information being shared by someone else for you. And then you can offer a direction, a guide, or just a helping hand.

There's definitely a shift going on where people not just want to be heard, but there are leaders and organizations who understand the value and the importance of it. We can't do things on our own.

EC: You emphasize collaboration and human connectivity often, which are vital components of the sustainability economy. Can you elaborate on how your organizations embody these concepts?

RP: I made up the “earn to return” philosophy because I saw it in my own parents and I said, I've been given very valuable resources and I've been given a talent to connect people. And if together, that can create something beautiful to really enhance the abundance of resources and create stable pathways for people in their livelihoods, then that's my purpose and that's what I'm going to do.

And in the process, yeah, we make great sales, great profits. But then the profits have to be returned back to our local communities and our people and our kids so that they end up having stable livelihoods for their future. For me, that was always the driving force, and it still is.

But I'll tell you again, none of it was planned. None.

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CultureMap Emails are Awesome

Amazon's EV robotaxi service Zook is set to arrive in Houston

EV News

Amazon-owned electric robotaxi ride-hailing service Zoox is zooming into Houston in September.

Initially, self-driving retrofitted SUVs with safety drivers on board will serve downtown Houston, centrally located tourist hotspots, and certain residential neighborhoods. The SUVs will test Houston roads before Zoox rolls out autonomous robotaxis, the company says.

Zoox takes Houston for a test drive

At the outset, Zoox says, a limited number of vehicles will be driven by people to gather data about Houston roads.

“This helps create a detailed picture of each street, from road geometry to traffic lights,” the company says. “Once we have mapped out an area, we will test autonomous driving capabilities. Safety and operational readiness govern the pace of our rollout.”

Zoox says its robotaxi differs from vehicles operated by other ride-hailing services.

The all-electric robotaxi “is purpose-built for autonomous ride-hailing and designed for riders from day one,” the company says. “It has no traditional driving controls and instead has carriage-style seating, sliding glass doors, and features that let the rider personalize their journey.”

To help manage the fleet, Zoox plans to open a depot in Houston for vehicle charging and maintenance, a representative says via email.

Along with Houston, Zoox is launching this month in San Diego. The ride-hailing service already operates in Austin, Dallas, Atlanta, Las Vegas, Los Angeles, Miami, Phoenix, the San Francisco Bay Area, Seattle, and Washington, D.C.

Zoox breaks into “sprawling” Houston market

Zoox describes Houston as its “most sprawling market to date.”

“Driving here means navigating complex service-road networks, unique merging scenarios, and challenging environmental conditions, including severe heat, heavy rain, and urban flooding,” the company says. “It’s a rigorous test of our technology across geography and terrain.”

Zoox will join two other autonomous ride-hailing services in Houston:

  • Waymo began rolling in Houston in February. Alphabet, the parent company of Google, owns Waymo.
  • Electric vehicle manufacturer Tesla began offering robotaxi services earlier this year.

A third Zoox competitor is arriving within the next year. A partnership comprising rideshare provider Uber, EV manufacturer Lucid, and autonomous technology company Nuro plans to launch a robotaxi service in Houston by mid-2027.

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This article originally appeared on CultureMap.com.

San Antonio company breaks ground on 347MW solar project outside of Houston

coming soon

Crews have broken ground on the forthcoming 347-megawatt direct-current SunRoper Solar project in Wharton County, Texas, that will add capacity to the ERCOT grid.

The solar project, which is slated to begin operations in December 2027, will provide electricity to an undisclosed Fortune 100 company under a long-term power purchase agreement, according to a news release.

San Antonio’s OCI Energy and Israel's Arava Power are developing the project. It's being financed by ING Capital and constructed by Louisiana-based WHC Inc. The project received $394 million in construction financing in February.

"SunRoper demonstrates how strategic partnerships can help meet Texas' growing demand for electricity through investments in critical energy infrastructure," Sabah Bayatli, president of OCI Energy, said in the release.

Project partners, landowners and company executives attended a groundbreaking event for SunRoper on Sept. 1 at the site outside of the Houston metro area. The companies say they are advancing this energy project to strengthen grid reliability and to help deliver affordable power to one of the highest-demand areas in the state.

“WHC is proud to serve as EPC contractor on the SunRoper Solar project, bringing our construction expertise to bear on a facility that will deliver meaningful power to the Houston region,” Randel Badeaux, president of power North America for WHC, added in the news release. “This groundbreaking reflects months of careful planning and coordination with OCI Energy, Arava Power and our project partners, and we look forward to executing a safe, high-quality build through to completion in 2027.”

OCI Energy currently operates several utility-scale solar and battery energy storage system projects outside of the San Antonio area, and has five other projects under construction outside of San Antonio and Waco, with more than 30 under development in Arkansas, Mississippi, Georgia, Colorado and Alberta, Canada. The company also has existing projects in New Jersey and Georgia.

In $2 billion deal, NVIDIA takes 20% stake in Woodlands-based Lancium

power play

With an initial investment of $2 billion, AI chip manufacturer NVIDIA just acquired a 20 percent stake in The Woodlands-based Lancium, which develops large-scale campuses that combine AI data centers and onsite power supplies.

Lancium recently announced the investment but didn’t disclose the dollar amount. The Information news website reported NVIDIA’s investment totaled $2 billion, with the possibility of an additional $1 billion if Lancium achieves certain milestones.

Dealroom.co calls NVIDIA’s investment a “form of supply-chain insurance.”

NVIDIA “is gaining exposure to the scarce physical assets that determine whether its chips can be deployed,” Dealroom.co says. “The move makes Nvidia look less like a pure chip company and more like an allocator of infrastructure capacity.”

Investment precedes possible IPO in 2027

Thanks to NVIDIA’s cash infusion, Lancium and its portfolio of land and power connections carry an enterprise value of about $10 billion, according to The Information.

The investment should enable Lancium to expand as it explores a potential IPO next year, The Information reported.

Neither Lancium nor NVIDIA is responding to requests for comment about the deal.

Lancium’s marquee project is a 1,000-acre data center and power generation campus in West Texas for the $500 billion Stargate initiative. Stargate, a joint venture comprising MGX, OpenAI, Oracle and SoftBank, is building data centers equipped to handle AI-level workloads.

“Epicenter of energy and AI infrastructure”

Founded in 2017, Lancium has 4 gigawatts of leased capacity and a more than 15-gigawatt development pipeline. In 2024, Blackstone Energy Transition Partners invested about $500 million in Lancium, giving Blackstone a roughly 50 percent stake.

“This partnership with NVIDIA is a strong testament to Lancium’s position at the epicenter of energy and AI infrastructure … . We look forward to continuing to partner with these leading companies to help power the next generation of AI innovation,” Bilal Khan, senior managing director at Blackstone, said in a release.

Through the NVIDIA partnership, Lancium’s data center and power generation campuses will use the tech company’s “AI factory” platform, including software, computing, and networking capabilities. This will give NVIDIA customers and partners access to power capacity that supports heavy AI workloads.

“We have spent years assembling the power, the land, and the infrastructure expertise needed to deliver AI data center capacity at a scale the world has never seen,” Michael McNamara, co-founder and CEO of Lancium, said in the release.

“Partnering with NVIDIA — the definitive technology platform for AI computing — ensures that every campus in our portfolio will be deployed with the industry’s most advanced technology and that NVIDIA’s customers will have access to the capacity they need to compete and lead in the AI era.”