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bp bets big on EV infrastructure, opens new Houston charging center

plugging in

The new bp pulse station is the first bp pulse branded Gigahub in the US and will be open to the public. Photo via bp.com

Energy giant bp is opening a large electric-vehicle charging site at its American headquarters in Houston.

The new bp pulse station is the first bp pulse branded Gigahub in the US and will be open to the public. The Gigahub, will offer 24 high-speed EV charge points with Tritium 150kW DC fast chargers. The chargers will be integrated with the bp pulse app, which assists users to locate the site, access real-time charging availability, and WiFi capabilities.

"As we expand our global footprint, I am thrilled to unveil our first EV charging Gigahub in the US,” Emma Delaney, bp executive vice president for customers and products, says in a news release. “With leading fast charging positions already in key markets in the UK, China, and Germany, we're learning about customer charging preferences on the go.”

The plan for bp pulse includes continued deployment of additional charging points at high-demand spots like major metropolitan areas, bp-owned properties, and airports. The company has also been awarded grant funds through programs including National Electric Vehicle Infrastructure and California Energy Commission, which will help to provide charging infrastructure at sites in Virginia,California, Pennsylvania, Tennessee and Kentucky.

Last year, bp announced plans to invest $1 billion in EV charging infrastructure by 2030, with $500 million invested in by the end of 2025.

"We're excited to bring bp pulse to America's energy corridor and expand our presence in the US public EV-charging market," CEO of bp pulse Americas Sujay Sharma said in a news release "This project will bring fast, reliable charging to EV drivers when and where they need it, helping support faster electric-vehicle adoption in the US. We look forward to welcoming new and existing EV drivers to our growing network."

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3 Houston sustainability startups score prizes at Rice University pitch competition

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A group of Rice University student-founded companies shared $100,000 of cash prizes at an annual startup competition — and three of those winning companies are focused on sustainable solutions.

Liu Idea Lab for Innovation and Entrepreneurship's H. Albert Napier Rice Launch Challenge, hosted by Rice earlier this month, named its winners for 2024. HEXASpec, a company that's created a new material to improve heat management for the semiconductor industry, won the top prize and $50,000 cash.

Founded by Rice Ph.D. candidates Tianshu Zhai and Chen-Yang Lin, who are a part of Lilie’s 2024 Innovation Fellows program, HEXASpec is improving efficiency and sustainability within the semiconductor industry, which usually consumes millions of gallons of water used to cool data centers. According to Rice's news release, HEXASpec's "next-generation chip packaging offer 20 times higher thermal conductivity and improved protection performance, cooling the chips faster and reducing the operational surface temperature."

A few other sustainability-focused startups won prizes, too. CoFlux Purification, a company that has a technology that breaks down PFAS using a novel absorbent for chemical-free water, won second place and $25,000, as well as the Audience Choice Award, which came with an additional $2,000.

Solidec, a company that's working on a platform to produce chemicals from captured carbon, and HEXASpec won Outstanding Achievement in Climate Solutions Prizes, which came with $1,000.

The NRLC, open to Rice students, is Lilie's hallmark event. Last year's winner was fashion tech startup, Goldie.

“We are the home of everything entrepreneurship, innovation and research commercialization for the entire Rice student, faculty and alumni communities,” Kyle Judah, executive director at Lilie, says in a news release. “We’re a place for you to immerse yourself in a problem you care about, to experiment, to try and fail and keep trying and trying and trying again amongst a community of fellow rebels, coloring outside the lines of convention."

This year, the competition started with 100 student venture teams before being whittled down to the final five at the championship. The program is supported by Lilie’s mentor team, Frank Liu and the Liu Family Foundation, Rice Business, Rice’s Office of Innovation, and other donors

“The heart and soul of what we’re doing to really take it to the next level with entrepreneurship here at Rice is this fantastic team,” Peter Rodriguez, dean of Rice Business, adds. “And they’re doing an outstanding job every year, reaching further, bringing in more students. My understanding is we had more than 100 teams submit applications. It’s an extraordinarily high number. It tells you a lot about what we have at Rice and what this team has been cooking and making happen here at Rice for a long, long time.”

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This article originally ran on InnovationMap.

ExxonMobil's $60B acquisition gets FTC clearance — with one condition

M&A moves

ExxonMobil's $60 billion deal to buy Pioneer Natural Resources on Thursday received clearance from the Federal Trade Commission, but the former CEO of Pioneer was barred from joining the new company's board of directors.

The FTC said Thursday that Scott Sheffield, who founded Pioneer in 1997, colluded with OPEC and OPEC+ to potentially raise crude oil prices. Sheffield retired from the company in 2016, but he returned as president and CEO in 2019, served as CEO from 2021 to 2023, and continues to serve on the board. Since Jan. 1, he has served as special adviser to the company’s chief executive.

“Through public statements, text messages, in-person meetings, WhatsApp conversations and other communications while at Pioneer, Sheffield sought to align oil production across the Permian Basin in West Texas and New Mexico with OPEC+,” according to the FTC. It proposed a consent order that Exxon won't appoint any Pioneer employee, with a few exceptions, to its board.

Dallas-based Pioneer said in a statement it disagreed with the allegations but would not impede closing of the merger, which was announced in October 2023.

“Sheffield and Pioneer believe that the FTC’s complaint reflects a fundamental misunderstanding of the U.S. and global oil markets and misreads the nature and intent of Mr. Sheffield’s actions,” the company said.

Senate Majority Leader Chuck Schumer, D-N.Y., said it was “disappointing that FTC is making the same mistake they made 25 years ago when I warned about the Exxon and Mobil merger in 1999.”

Schumer and 22 other Democratic senators had urged the FTC to investigate the deal and a separate merger between Chevron and Hess, saying they could lead to higher prices, hurt competition and force families to pay more at the pump.

The deal with Pioneer vastly expands Exxon’s presence in the Permian Basin, a huge oilfield that straddles the border between Texas and New Mexico. Pioneer’s more than 850,000 net acres in the Midland Basin will be combined with Exxon’s 570,000 net acres in the Delaware and Midland Basin, nearly contiguous fields that will allow the combined company to trim costs.

Texas initiatives snag solar funding, CTV makes battery investment, and more top energy transition news

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Editor'snote: From a new Texas hydrogen R&D lab opening to the newest cleantech investment from Chevron, these are the top headlines that resonated with EnergyCapital readers on social media and daily newsletter this week.

Two Texas coalitions part of $7B solar power federal grant program

Texas Solar For All Coalition and Clean Energy Fund of Texas were two of the 60 recipients of the Solar for All grant competition. Photo via Getty Images

The Biden administration delivered an Earth Day gift with the news that 60 grantees will receive $7 billion in grant awards.

Texas Solar For All Coalition and Clean Energy Fund of Texas were two of the 60 recipients of the Solar for All grant competition. The awardees will provide solar energy to 900,000 low-income households in all 50 states. This is expected to generate an estimated 200,000 jobs as part of the Environmental Protection Agency’s Greenhouse Gas Reduction Fund, which includes $405,820,000 in Texas.

“President Biden’s clean energy plan is creating good-paying jobs, reducing emissions, and saving Americans money on their utility bills,” Climate Power Interim States Managing Director André Crombie says. Continue reading.

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

Texas is expensive when it comes to weather events, a new report finds. Photo via Getty Images

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. Continue reading.

Eyeing demand growth, ERCOT calls for energy investments across Texas

ERCOT now estimates an extra 40,000 megawatts of growth in demand for electricity by 2030 compared with last year’s outlook. Photo via Getty Images

With the Electric Reliability Council of Texas forecasting a big spike in demand for electricity over the next five to seven years, the operator of Texas’ massive power grid is embracing changes that it says will yield a “tremendous opportunity” for energy investments across the state.

The council, known as ERCOT, now estimates an extra 40,000 megawatts of growth in demand for electricity by 2030 compared with last year’s outlook. According to ERCOT data, 40,000 megawatts of electricity would power roughly 8 million Texas homes during peak demand. Continue reading.

Texas hydrogen research hub opens to support statewide, DOE-backed initiative

The Center for Electromechanics at The University of Texas, Frontier Energy, Inc., and GTI Energy celebrated the grand opening of a hydrogen research and demonstration facility in Austin. Photo via utexas.edu

A Texas school has cut the ribbon on a new hydrogen-focused research facility that will play a role in a statewide, Department of Energy-funded energy transition initiative.

The Center for Electromechanics at The University of Texas, Frontier Energy, Inc., and GTI Energy celebrated the grand opening of a hydrogen research and demonstration facility in Austin as part of the “Demonstration and Framework for H2@Scale in Texas and Beyond” project, which is supported by the DOE's Hydrogen and Fuel Cell Technologies Office. Continue reading.

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

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. Continue reading.

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