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Houston ranked a top market for attracting funding for sustainability-focused startups

by the numbers

According to a new report, Houston is one of the top cities for funding for sustainability companies. Photo via Getty Images

From a financial standpoint, Houston appears to be a sustainable environment for sustainability-focused startups.

An analysis by PromoLeaf, a retailer of sustainable promotional products, that came out at the end of last year ranks Houston fourth among U.S. cities for the average funding raised by locally based startups in the sustainability sector, according to Crunchbase data.

Per the report, the Bayou City attracts $150.7 million in sustainability funding for startups. Ahead of Houston are Salt Lake City with $204.5 million; Santa Monica, California, with $154.3 million; and Fremont, California, with $153.4 million.

PromoLeaf’s analysis features cities where at least 20 companies are focused on sustainability.

The analysis indicates Houston has 20.6 sustainability startups per 100,000 residents. Ranking first in that regard is Boulder, Colorado (115 per 100,000 residents).

While Houston trails Boulder by a long distance, it fares well among the Texas cities in the analysis:

  1. Austin, 26.2 sustainability startups per 100,000 residents
  2. Houston, 20.6 sustainability startups per 100,000 residents
  3. Midland, 18.8 sustainability startups per 100,000 residents
  4. Plano, 11.9 sustainability startups per 100,000 residents
  5. Dallas, 11 sustainability startups per 100,000 residents
  6. Fort Worth, 5.3 sustainability startups per 100,000 residents
  7. San Antonio, 5.2 sustainability startups per 100,000 residents

PromoLeaf says more than 21,600 sustainability startups operate in the U.S. They’re in the renewable energy, recycling and pollution control, environmental engineering, green consumer goods, and environmental consulting industries.

The analysis shows Houston has:

  • 13.7 renewable energy startups per 100,000 residents
  • 5.8 recycling and pollution control startups per 100,000 residents
  • 3.5 environmental engineering startups per 100,000 residents
  • 2.9 environmental consulting startups per 100,000 residents
  • 0.70 green consumer goods startups per 100,000 residents

According to the Greater Houston Partnership, renewable energy startups leading Houston’s energy transformation include Energy Transition Ventures, Fysikes Biosolutions, Ionada, Katz Water Technologies, Pressure Corp., and Renewell Energy.

“A dynamic business climate combined with growth in venture capital funding in Houston has created fertile ground for companies of all stages aiming to power our world through the global energy transition,” the partnership says. “As the Energy Capital of the World, Houston has become a hub for startups and venture capital firms investing in the region’s energy future.”

Outside the energy sector, Houston startups like Trendy Seconds also are making their mark in sustainability. The company runs an online marketplace where women can find preowned clothing or shop for new clothing from sustainable brands.

“Our ultimate goal is to make responsible consumption super easy,” Maria Burgos, founder of Trendy Seconds, told InnovationMap last year.

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This article originally ran on InnovationMap.

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From events to a new climate-focused report, here are three things to know in Houston energy transition news

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Editor's note: Dive headfirst into the new week with three quick things to catch up on in Houston's energy transition: a roundup of events not to miss, a new study puts a dollar sign to Texas' disasters per capita, and three organizations are teaming up for an August event.

When it comes to weather-related events, Texas is expensive

Texas — home to everything from tornadoes to hurricanes — cracks the top 10 of a new report ranking states based on impact from weather-related events.

SmartAsset's new report factored in a myriad of data from the Federal Emergency Management Agency to identify which states face the most financial risk due to various weather events. In the report, the states were ranked by the total expected annual financial losses per person. Texas ranked at No. 10. In Texas, the total expected annual loss per person is estimated as $283.15. Click here to see that figure broken down.

3 organizations in Houston receive funding for DOE-backed programming

Later this year, a Wells Fargo Foundation-backed event that's co-administered by the United States Department of Energy's National Renewable Energy Laboratory will feature programming from three Houston organizations.

The Wells Fargo Innovation Incubator, a $50 million program, announced its eighth cycle of IN2 Channel Partner Strategic Awards. The program is distributing $767,000 across 15 organizations within the Channel Partner network to create impactful workshops at the upcoming Camp Cleantech event in August at CSU Spur in Denver, Colorado.

Houston-based Rice Alliance Clean Energy Accelerator, as well as Activate Global and Greentown Labs, which each have Houston locations, have been named among the awards recipients. The organizations will present workshops aimed at providing critical tools and insights for clean tech startups. Read more about the event and grants.

Events not to miss

Put these Houston-area energy-related events on your calendar.

  • Center for Houston’s Future and the Houston Energy Transition Initiative present a panel and attendee Q&A on Wednesday, May 1, from 9 to 11 a.m. at Partnership Tower 701 Avenida de las Americas, Suite 900. The program will be on the National Petroleum Council’s new report on hydrogen: “Harnessing Hydrogen: A Key Element of the U.S. Energy Future.” Register.
  • Offshore Technology Conference returns to Houston May 6 to 9. Register.
  • Greentown Houston's next Transition on Tap, a monthly networking event, is Wednesday, May 8. Register.
  • The University of Houston is hosting a professional-level course focused on hydrogen. The course is open for registration now, and the orientation event will take place on May 15. Learn more.

Texas lands in top 10 states expected to be most financially affected by weather events

new report

Texas — home to everything from tornadoes to hurricanes — cracks the top 10 of a new report ranking states based on impact from weather-related events.

SmartAsset's new report factored in a myriad of data from the Federal Emergency Management Agency to identify which states face the most financial risk due to various weather events. In the report, the states were ranked by the total expected annual financial losses per person. Texas ranked at No. 10.

"With a variety of environmental events affecting the wide stretch of the United States, each state is subject to its own risks," reads the report. "Particularly, tornadoes, wildfires, hurricanes, flooding, landslides, lightning and drought, among other events, can cause damage to buildings, agriculture and individuals alike. When considering insurance, residents and business owners in each state should account for historic and projected losses due to environmental events in their financial plans."

In Texas, the total expected annual loss per person is estimated as $283.15. The report broke down each weather event as follows:

  • Coastal flooding: $1.49
  • Drought: $3.48
  • Earthquake: $1.71
  • Heat wave: $8.16
  • Hurricane: $89.22
  • Riverine flooding: $66.05
  • Strong wind: $5.37
  • Tornado: $71.04
  • Wildfire: $8.26
  • Winter weather: $1.96
Louisiana ranked as No. 1 on the list with $555.55 per person. The state with the lowest expected loss per person from weather events was Ohio with only $63.89 estimated per person.


ExxonMobil profit declines in Q1 as natural gas prices fall

trending down

ExxonMobil's profit declined in its first quarter as natural gas prices fell and industry refining margins dropped.

The energy company earned $8.22 billion, or $2.06 per share, for the three months ended March 31. A year earlier it earned $11.43 billion, or $2.79 per share.

The results didn't meet Wall Street expectations, but Exxon does not adjust its reported results based on one-time events such as assets sales. Analysts polled by Zacks Investment Research were expecting earnings of $2.19 per share.

Shares declined slightly before the market open on Friday.

The Spring, Texas-based company's revenue totaled $83.08 billion, down from $86.56 billion a year earlier. Wall Street forecast revenue of $86.6 billion.

Production in Guyana reached more than 600,000 oil-equivalent barrels per day, a higher-than-expected level, the company said.

Exxon went on a bit of a shopping spree last year when oil prices were surging.

In July, the company said it would pay $4.9 billion for Denbury Resources, an oil and gas producer that has entered the business of capturing and storing carbon and stands to benefit from changes in U.S. climate policy.

In October Exxon topped that deal by announcing that it would buy shale operator Pioneer Natural Resources for $60 billion. Two months later, the Federal Trade Commission, which enforces federal antitrust law, asked for additional information from the companies about the proposed deal. The request is a step the agency takes when reviewing whether a merger could be anticompetitive under U.S. law. Pioneer disclosed the request in a filing in January.

Elevated levels of cash for all big producers drove a massive consolidation in the energy sector. In October Chevron said it would buy Hess Corp. for $53 billion.

Oil markets are being stretched by cutbacks in oil production from Saudi Arabia and Russia, and the war between Israel and Hamas still potentially runs the risk of igniting a broader conflict in the Middle East. While attacks on Israel do not disrupt global oil supply, according to an analysis by the U.S Energy Information Administration, “they raise the potential for oil supply disruptions and higher oil prices.”

Elsewhere in the sector, Chevron Corp. reported a first-quarter profit of $5.5 billion, or $2.97 per share. Its adjusted profit was $2.93 per share.

The results surpassed Wall Street expectations, but Chevron also does not adjust its reported results based on one-time events such as asset sales. Analysts surveyed by Zacks predicted earnings of $2.84 per share.

The oil company posted revenue of $48.72 billion, which fell short of Wall Street's estimate of $49.94 billion.

Chevron's stock dipped in premarket trading.

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