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2 Houston energy giants appear on Fortune’s inaugural AI ranking

AI Leaders

ExxonMobil is on Fortune's first-ever AIQ ranking. Getty Images

Two Houston-area energy leaders appear on Fortune’s inaugural list of the top adopters of AI among Fortune 500 companies.

They are:

  • No. 7 energy company ExxonMobil, based in Spring
  • No. 47 energy company Chevron, based in Houston

They are joined by Spring-based tech company Hewlett Packard Enterprise, No. `19.

All three companies have taken a big dive into the AI pool.

In 2024, ExxonMobil’s executive chairman and CEO, Darren Woods, explained that AI would play a key role in achieving a $15 billion reduction in operating costs by 2027.

“There is a concerted effort to make sure that we're really working hard to apply that new technology to the opportunity set within the company to drive effectiveness and efficiency,” Woods told Wall Street analysts.

At Chevron, AI tools are being used to quickly analyze data and extract insights from it, according to tech news website VentureBeat. Also, Chevron employs advanced AI systems known as large language models (LLMs) to create engineering standards, specifications and safety alerts. AI is even being put to work in Chevron’s exploration initiatives.

Bill Braun, Chevron’s chief information officer, said at a VentureBeat-sponsored event in 2024 that AI-savvy data scientists, or “digital scholars,” are always embedded within workplace teams “to act as a catalyst for working differently.”

The Fortune AIQ 50 ranking is based on ServiceNow’s Enterprise AI Maturity Index, an annual measurement of how prepared organizations are to adopt and scale AI. To evaluate how Fortune 500 companies are rolling out AI and how much they value AI investments, Fortune teamed up with Enterprise Technology Research. The results went into computing an AIQ score for each company.

At the top of the ranking is Alphabet (owner of Google and YouTube), followed by Visa, JPMorgan Chase, Nvidia and Mastercard. Aside from ExxonMobil, Hewlett Packard Enterprise, and Chevron, two other Texas companies made the list: Arlington-based homebuilder D.R. Horton (No. 29) and Austin-based software company Oracle (No. 37).

“The Fortune AIQ 50 demonstrates how companies across industry sectors are beginning to find real value from the deployment of AI technology,” Jeremy Kahn, Fortune’s AI editor, said in a news release. “Clearly, some sectors, such as tech and finance, are pulling ahead of others, but even in so-called 'old economy' industries like mining and transport, there are a few companies that are pulling away from their peers in the successful use of AI.


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This article originally appeared on InnovationMap.com.

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Houston-area executives, including ExxonMobil Corp. CEO Darren Woods, have claimed spots on Fortune’s list of the 100 Most Powerful People in Business. Photo via Getty Images.

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.

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Houston cleantech startup seeks $200M for superhot geothermal plant

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Houston-based Quaise Energy is looking to raise $200 million to support the development of a 50-megawatt superhot geothermal plant in Oregon.

The company is seeking $100 million in Series B funding, plus an additional $100 million from grants, debt and project-level finance, a representative from the company tells Energy Capital. Axios first reported the news late last month.

Quaise specializes in terawatt-scale geothermal power. It is known for its millimeter-wave drilling technology, which was developed at MIT.

The company's Project Obsidian development in central Oregon will combine conventional drilling with its millimeter-wave technology. Quaise says the project, targeted to come online in 2030, could be the first commercial plant to operate in superhot rock, a more efficient and abundant resource, but one that requires more advanced and durable drilling technology.

Quaise says Obsidian would initially generate 50 megawatts of "always-on" power and would be designed to add 200 megawatts as additional wells are developed. A power-purchase deal has already been signed for the initial 50 megawatts with an undisclosed customer.

A representative from the company says Quaise would also use the funding to continue advancing its millimeter-wave technology and prepare it for commercialization.

Last year, the company drilled to a depth of about 330 feet using its millimeter-wave technology at its field site in Central Texas.

“Our progress this year has exceeded all expectations,” Carlos Araque, CEO and president of Quaise Energy, said at the time. “We’re drilling faster and deeper at this point than anyone believed possible, proving that millimeter-wave technology is the only tool capable of reaching the superhot rock needed for next-generation geothermal power. We are opening up a path to a new energy frontier.”

Canary Media reports that Quaise plans to drill to nearly 3,300 feet later this year and to deploy its millimeter-wave technology at its power plant in 2027.

Quaise raised $21 million in a Series A1 financing round in 2024 and a $52 million Series A in 2022. Major investors include Prelude Ventures, Safar Partners, Mitsubishi Corporation, Nabors Industries, TechEnergy and others.

Quaise was one of eight Houston-area companies to appear on Time magazine and Statista’s list of America’s Top GreenTech Companies of 2025.

Houston positioned to lead in Carbon Capture Utilization (CCU), study shows

The View From HETI

With global demand for energy production while lowering emissions continues to grow, Houston and the Gulf Coast region are uniquely positioned to lead with carbon capture, utilization and sequestration (CCUS). A new study developed by the Houston Energy Transition Initiative (HETI) in collaboration with Deloitte Consulting explores how the region can transform captured CO₂ into valuable products while supporting continued economic growth and industrial competitiveness.

Key takeaways from the report include:

Houston and the Gulf Coast are uniquely advantaged to utilize and store carbon.As a global hub for chemicals and refining industries, Houston has access to world-class infrastructure, a skilled workforce, and access to global markets. The region also has one of the nation’s highest concentrations of industrial CO2 and creates the opportunity to capture waste material streams to deliver lower carbon intensity products that continue to deliver economic benefits to the region.

While carbon capture and sequestration (CCS) projects continue to advance, CCU requires coordinated action across policy, infrastructure, technology and market demand to scale successfully. Utilization and sequestration are complementary strategies that support and protect investment deployments. CCS acts as an early foundation while markets and infrastructure evolve toward broader CO₂ utilization, and CCU is essential to developing low-carbon-intensity value chains and products.

“Our collaboration with Deloitte highlights how Houston and the Gulf Coast continue to build on the strengths that have long made our region an energy leader. Houston’s infrastructure, workforce, and industrial ecosystem uniquely position the region to scale CCU,” said Jane Stricker, Senior Vice President, Energy Transition, and Executive Director of HETI. “With supportive policy, continued innovation, and strong industry partnerships, we can accelerate CCU deployment, create new low-carbon value chains, and ensure Houston remains at the forefront of the global energy transition.”

Download the full report here.

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This article originally appeared on the Greater Houston Partnership's Houston Energy Transition Initiative blog. HETI exists to support Houston's future as an energy leader. For more information about the Houston Energy Transition Initiative, EnergyCapitalHTX's presenting sponsor, visit htxenergytransition.org.

Houston startup raises $6M to grow AI platform for solar, battery contractors

fresh funding

Houston tech startup Artemis has raised $6 million from 10 investors. The company offers an AI-supported platform that enables solar, battery storage and home improvement contractors to design, sell and finance energy projects.

Long Journey and Copec WIND Ventures co-led the round, with participation from angel investor Scott Banister, Coalition Operators, FJ Labs, Ludlow Ventures, Palm Tree Crew, Plug and Play Ventures, Shrug Capital and Tribeca Ventures.

To help propel growth, the company secured $10 million in financing last year (under its previous name, Monalee) from venture debt and growth credit provider Applied Real Intelligence. As Monalee, the company raised $16 million in venture capital.

The company was founded in 2022 as an installer of solar and battery storage projects. Five years later, the startup used in-house technology to establish its standalone software platform as it began pivoting away from installation. The company recently adopted the Artemis brand name.

Artemis says its platform saves time and money for installers of residential solar, battery storage, and energy projects. The platform combines an AI-powered design tool with embedded financing capabilities and compliance automation to create a single operating system.

The company says its customers report as much as a 72 percent reduction in software costs and up to 98 percent faster turnaround times. Thus far, more than 100 installers are using Artemis’ technology.

“Installers shouldn’t need six tools and a week of back-and-forth to sell a project," Walid Halty, co-founder and CEO of Artemis, said in a press release. “This funding gives us the fuel to scale our mission to compress design, financing, and compliance into a single flow so every installer can operate like a modern energy company. We’re not just speeding up deals, we're modernizing how distributed energy gets built.”

The Artemis platform, now available in the U.S. and soon to be launched in Latin America, caters to home improvement contractors, solar companies, lenders, and utilities.

“Artemis is transforming the complexity of distributed energy into elegant simplicity," added Arielle Zuckerberg, general partner at Long Journey.

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