Ana Amicarella, CEO of EthosEnergy, joins the Houston Innovators Podcast to discuss the company's growth amid the energy transition. Photo courtesy of EthosEnergy

For most of her career, Ana Amicarella has been the only person in the room who looks like her. But as CEO of Houston-based EthosEnergy, she's changing that.

"The energy sector for sure is highly dominated by men, but I think it's such an exciting environment," Amicarella says on the Houston Innovators Podcast. "What I try to do at every job that I go to is I try to increase representation — diverse representation and females in the company. And I measure that when I started and when I end. I want to be able to make a difference."

Amicarella joined EthosEnergy — which provides rotating equipment services and solutions to the power, oil and gas, and industrial markets — as CEO in 2019 a few years after it was in 2014 as a joint venture between John Wood Group PLC and Siemens Energy AG. Prior to her current role, she served in leadership roles at Aggreko an GE Oil and Gas.

Recently, EthosEnergy announced it's being acquired by New York private equity firm, One Equity Partners, which Amicarella says is very interested in investing into EthosEnergy and its ability to contribute to the energy transition.

"What One Equity Partners will bring is tremendous decisiveness. They won't delay in deciding what is good for the company — I've already seen examples," Amicarella says, adding that the deal hasn't get been finalized. "They are going to make decisions and trust the management team, I think our pace of change will be enormous compared to what it used to be."

While EthosEnergy has customers from traditional oil and gas, she says she leads the company with the energy transition at the top of her mind, and that means being able to grow and evolve.

"One of the behaviors we look to have at EthosEnergy is an ability to be nimble," Amicarella says, "because we know market conditions change. Think of all the things we've had to go through in the last five years."

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This article originally ran on InnovationMap.

One Equity Partners announced the acquisition of EthosEnergy, which focuses on rotating equipment services for power generation, energy, industrial, and aerospace and defense industry.

Houston energy equipment service provider acquired by New York PE firm

changing hands

Houston-based energy equipment service provider EthosEnergy has been acquired by a New York private equity firm.

One Equity Partners announced the acquisition of EthosEnergy, which focuses on rotating equipment services for power generation, energy, industrial, and aerospace and defense industry. The terms of the deal were not disclosed.

Formed in 2014 as a joint venture between John Wood Group and Siemens Energy AG, EthosEnergy, which has 3,600 employees across 23 global sites, provides aftermarket maintenance, repair, and overhaul, or MRO, services as well as outsourced operations and maintenance for power generation and industrial customers operating industrial gas turbines and other similar equipment.

“As we seek to enhance and grow our operations, we are pleased to have OEP backing us as a partner,” EthosEnergy CEO Ana Amicarella says in a news release. “OEP’s longstanding and deep industrial sector expertise will support EthosEnergy as we serve growing needs in a critical industry.”

A middle market PE firm, OEP focuses on the industrial, healthcare, and technology sectors in North America and Europe. The firm was founded in 2001 and spun out of JP Morgan in 2015. It has offices in New York, Chicago, Frankfurt, and Amsterdam.

“EthosEnergy is uniquely positioned to meet the growing maintenance needs of an aging turbine fleet," Ante Kusurin, partner at One Equity Partners, adds. "As energy demand rises, these turbines are being pushed beyond their initial design parameters, creating significant opportunities for EthosEnergy’s flexible, cost-effective services.”

Last year, Amicarella joined EnergyCapital for an interview where she discussed the company's commitment to the energy transition.

"Our focus on sustainability is the right thing to do for our employees, for our customers, and for our communities," she said in the interview.

"Our focus on sustainability is the right thing to do for our employees, for our customers, and for our communities." Photo courtesy of EthosEnergy

Houston energy leader on why the industry needs to implement circular economy, other sustainable initiatives

Q&A

When Ana Amicarella took the helm of EthosEnergy in 2019, she had no idea of the challenges that awaited her company, the industry, and the world.

But Amicarella, a former synchronized swimmer from Venezuela who competed in the 1984 Summer Olympics who has three decades of leadership experience at energy companies, has what it took to steer the ship in the choppy waters that was the pandemic, the ongoing energy transition, and more.

In a discussion with EnergyCapital, she shares how she navigated that difficult time and how important she feels it is that energy companies are committed to reducing their carbon footprints — especially through tapping into the circular economy.

EnergyCapital: How have you led EthosEnergy through the past few difficult years? What were the company’s biggest challenges and how did you address them?

Ana Amicarella: Growing EthosEnergy into a global powerhouse with hundreds of millions in turnover within nine years was a formidable task. Since our inception in 2014, we've expanded to 94 locations with 4,000 employees, becoming a leading provider of rotating equipment services in the power, oil, and gas sectors. However, when I assumed the role of CEO in December 2019, the company had evolved into a complex, unwieldy structure with missed opportunities and unsustainable overheads, exacerbated by the COVID-19 pandemic.

Despite the pandemic, we were already on the path to transformation. COVID-19 accelerated our OneEthos strategy, focused on simplifying our business, fostering a new culture, and strengthening client relationships. Extensive listening exercises were held with staff and customers in March 2020 that led to a restructuring plan that was swiftly approved by the board. On July 1, 2020, we launched the new structure, emphasizing that this transformation went beyond organizational changes. Our simplified OneEthos plan focuses on core strengths, eliminating unprofitable activities, embracing cultural principles, and maintaining an unwavering commitment to quality and consistency for our customers. We've also shifted our perspective on capital expenditures, aligning them with energy transition goals to become the preferred partner for critical rotating equipment, offering assistance with end-of-life equipment and carbon footprint reduction as our key value proposition.

EC: How is EthosEnergy future-proofing its business amid the energy transition?

AA: We believe we have a moral responsibility to take a leading role in shaping a better future for us and for generations to come – essentially, we are trying to "Turn on Tomorrow." Our focus on sustainability is the right thing to do for our employees, for our customers, and for our communities. I like to say that behind our company’s name is a team of people. Behind our customers’ names are teams of people. Together we all share common communities, a common environment, and a common reliance on transparent, ethical practices.

A few years ago, we introduced a framework to help us build growth, financial sustainability and deliver long-term value. Our aim is to create value and improve our economic, social, and environmental impact by focusing in the following six areas: Policies and Procedures, Diversity Equity and Inclusion, Environmental Footprint, Engineering Solutions, Alliances and Partnerships, and Third-Party Suppliers. As an example, for Environmental Footprint we are implementing programs to install LED lighting in our facilities, implement more robust environmental recycling and waste reduction plans, and identify other energy efficiency programs around the company. From a third-party supplier’s perspective, we are focused on increasing our spend with minority, women, and veteran-owned businesses. In the last two years, we’ve increased spend in those categories by 35 percent in the US alone. And, we are working towards issuing our first sustainability report in the near future.

EC: How does EthosEnergy help customers shrink their carbon footprint and why is that important to you as a business?

AA: Concerns about climate change have started to exert pressure on conventional business models that follow a linear approach of "take, make, dispose" – a system where we acquire new items, use them, and then discard them when they are no longer needed.

A circular economy approach, on the other hand, disconnects economic activities from excessive material and energy consumption by establishing closed-loop systems where waste and carbon-footprint is minimized, and resources are repeatedly used. Even industries traditionally adhering to linear models, like oil and gas and utilities, can incorporate elements of circularity into their operations. EthosEnergy explores the possibilities that circularity offers to companies in the power generation, oil and gas, and industrial sectors, aiming to revitalize and extend the lifespan of existing assets.

To transition from a linear economy to a circular one, we must focus on three key aspects: optimizing product usage, giving priority to renewable inputs, and effectively recovering by-products and waste.

EC: What sort of technology are you tapping into to help achieve these goals?

AA: The adoption of reusing equipment in the energy industry has room for improvement. There's significant potential for reusing rather than disposing of equipment when it nears decommissioning. Our mission is to offer solutions that are economically, socially, and environmentally beneficial, aimed at prolonging the lifespan of existing equipment. EthosEnergy has already developed a range of solutions for life extension and emissions compliance to help existing assets meet critical targets. This has a noteworthy impact on reducing CO2 emissions in two key ways: first, by avoiding the production of new equipment and thus preventing emissions during manufacturing, and second, by deferring or even eliminating the recycling of older assets.

Additionally, there's an opportunity to enhance the environmental performance of existing assets by increasing their efficiency through regeneration and enabling them to operate with lower-carbon alternative fuels like hydrogen. We've actively collaborated with a university in Italy, Politecnico di Torino, on this front, recognizing that partnerships between universities and industries will play a pivotal role in shaping our future.

We firmly believe that greater collaboration and alignment between business, social, and environmental factors are essential for achieving success in these endeavors.

EC: What’s your leadership style and how do you navigate the challenges that come with being a female CEO in a male-dominated industry?

AA: I would best describe my leadership style as inclusive and engaging. I firmly believe in the power of teamwork and fostering a culture where diverse voices are not only heard but valued. My leadership approach is rooted in transparency, open communication, and a commitment to empowering individuals within the organization to contribute their unique perspectives and talents.

In a male-dominated industry, being relentless is a necessity. I approach challenges with unwavering determination and persistence. I use adversity as motivation to push forward and break down barriers. My relentless pursuit of excellence sets an example for my team and reinforces the idea that gender should never limit one's aspirations.

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This conversation has been edited for brevity and clarity.

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Houston energy hub announces first cohort for new accelerator

green team

Energytech Nexus, a Houston-based hub for energy startups, has named its inaugural cohort of 14 companies for the new COPILOT accelerator.

COPILOT partners with Browning the Green Space, a nonprofit that promotes diversity, equity and inclusion (DEI) in the clean energy and climatech sectors. The Wells Fargo Innovation Incubator (IN²) at the National Renewable Energy Laboratory backs the COPILOT accelerator.

The eight-month COPILOT program offers mentorship, training and networking for startups. Program participants will be tasked with developing pilot projects for their innovations.

Two Houston startups are members of the first COPILOT class:

  • GeoFuels, housed at Houston’s Greentown Labs, has come up with a novel approach to hydrogen production that relies on geothermal power and methane decomposition.
  • PolyQor, which converts plastic waste into eco-friendly construction materials. Its flagship EcoGrete product is an additive for concrete that enhances its properties while reducing carbon emissions. PolyQor’s headquarters is at Houston’s Greentown Labs.

Other members of the COPILOT cohort are:

  • Birmingham, Alabama-based Accelerate Wind, developer of a wind turbine for commercial buildings.
  • Ann Arbor, Michigan-based Aquora Biosystems, which specializes in organic waste biorefineries.
  • Phoenix-based EarthEn Energy, a developer of technology for thermo-mechanical energy storage.
  • New York City-based Electromaim, which installs small hydro-generators in buildings’ water systems.
  • Chandler, Arizona-based EnKoat, an advanced materials company whose flagship product, the IntelliKoat System, is a patented two-layer thermal and weather barrier roof coating for flat and low-slope commercial buildings.
  • Calgary, Canada-based Harber Coatings, which manufactures electroless nickel coating and electroless nickel plating.
  • Dallas-based Janta Power, which designs and makes 3D solar towers.
  • Miami-based NanoSieve, a developer of gas remediation technology.
  • Palo Alto, California-based Popper Power, which has developed a platform that turns streetlight networks into resilient, maintenance-free distributed charging infrastructure.
  • Buffalo, New York-based Siva Powers America, developer of small wind turbines for farms, utility companies and others with annual energy needs of 300,000 to 2 million kilowatt-hours.
  • Los Angeles-based Thermoshade, which specializes in cooling panels for outdoor environments.
  • Waukesha, Wisconsin-based V-Glass, Inc., developer of a vacuum-insulated glass for affordable high-efficiency windows.

“These startups reflect the future of energy access and resilience innovation,” said Juliana Garaizar, founding partner of Energytech Nexus. “By connecting them directly with partners through

COPILOT, we’re helping them overcome the ‘pilot gap’ to build solutions that scale.”

The startups will run pilot projects along the Gulf Coast for their inventions.

Summer outages remain major concern despite CenterPoint upgrades, report shows

power report

A new survey from the University of Houston Hobby School of Public Affairs showed that nearly 70 percent of 2,300 Harris County registered voters polled were very worried or moderately worried about losing power this summer.

The survey asked residents questions about the potential impact of severe summer weather and to evaluate CenterPoint’s efforts to improve the electrical grid over the past year. It was conducted between July 9-18.

Among the three severe weather threats studied—being without power, high winds and flooding—loss of power was the primary concern among respondents. When asked to what extent residents were worried about being without power:

  • 42 percent were very worried
  • 27 percent were moderately worried
  • 19 percent were a little worried
  • 12 percent were not worried at all

Only 25 percent of respondents reported they were very worried about wind damage, and 20 percent were very worried about flooding.

The report also found that 63 percent of respondents held an unfavorable opinion of CenterPoint Energy.

And despite CenterPoint’s $3.2 billion Systemwide Resiliency Plan (SRP), partnerships with AI companies, and its ongoing Greater Houston Resiliency Initiative (GHRI), 44 percent of respondents said they believe CenterPoint has made only "a little bit" progress on improving the grid's overall reliability.

CenterPoint maintains that the SRP is expected to reduce storm-related outages by 1 billion minutes for its 2.8 million customers by 2029. The company also recently reported a 45 percent reduction in the duration of outages for individual customers from January to June of this year.

“We believe that these resiliency actions will help create a future with fewer outages that impact smaller clusters of customers, coupled with faster restoration times for our Greater Houston communities,” Jason Wells, president and CEO of CenterPoint, previously said in a news release.

Read the full report that includes demographic explanations here.

2 Houston energy execs among Fortune’s most powerful people in business

power people

Two Houston-area energy executives have been named to Fortune’s list of the 100 Most Powerful People in Business.

Darren Woods, chairman and CEO of ExxonMobil Corp., appears at No. 34 on the list, and Mike Wirth, chairman and CEO of Chevron Corp., lands at No. 90. Woods showed up on last year’s inaugural list, while Wirth debuted on the list this year.

Woods assumed the top job at Spring-based ExxonMobil in 2017.

“Woods worked his way up through the ranks of the oil giant, first serving as a planning analyst in 1992, and later as vice president and senior vice president,” according to Fortune.

Under Woods’ watch, ExxonMobil has grown substantially. For instance, the company wrapped up its nearly $60 billion acquisition of Dallas-based oil and gas exploration and production company Pioneer Natural Resources in 2024.

Last year, ExxonMobil posted revenue of nearly $350 billion. The company relocated its headquarters to Spring from the Dallas-Fort Worth suburb of Irving in 2023.

Wirth became chairman and CEO of Houston-based Chevron in 2018.

“While Chevron continues to grow its oil and gas business from West Texas to Kazakhstan, the company is investing more in hydrogen, renewable fuels and sustainable aviation fuel, carbon capture, and, most recently, lithium extraction,” according to Fortune.

In terms of revenue, Chevron is the country’s second-largest oil and gas company, behind ExxonMobil. Last year, Chevron posted revenue of almost $202.8 billion.

With Wirth at the helm, Chevron has expanded its footprint. In July, for example, the company completed its $53 billion acquisition of New York City-based energy company Hess Corp. The deal, announced in October 2023, was delayed by a now-resolved legal battle against ExxonMobil and China National Offshore Oil Corp. over Hess’ plentiful oil assets in Guyana.

In 2024, Chevron announced it was moving its headquarters to Houston from Northern California.

Jensen Huang, president and CEO of Nvidia, claimed the No. 1 spot. The technology company announced plans to produce AI supercomputers at a Houston-area factory earlier this year.