Maria Jelescu Dreyfus is CEO and founder of Ardinall Investment Management, which is an investment firm that works in “sustainable investing and resilient infrastructure.” Photo via ExxonMobil

An energy transition expert and investor has joined Houston-headquartered ExxonMobil Corp.’s board of directors.

Maria Jelescu Dreyfus is CEO and founder of Ardinall Investment Management, which is an investment firm that works in “sustainable investing and resilient infrastructure.”

She previously spent 15 years at Goldman Sachs as a portfolio manager and managing director in the Goldman Sachs Investment Partners Group that focused on energy, industrials, transportation and infrastructure investments across the capital structure.

She currently serves as a director on the board of Cadiz Inc. and on the board of CDPQ. She also works in the energy transition space as a director on several companies' boards.

“We welcome Maria to the ExxonMobil Board as the company executes its strategy to grow shareholder value by playing a critical role in a lower-emissions future, even as we continue to provide the reliable energy and products the world needs,” Joseph Hooley, lead independent director for Exxon Mobil Corporation, says in a news release. “Her deep financial background combined with her extensive work in sustainability will complement our Board’s existing skill set.”

Dreyfus is the vice chair of the advisory board of Columbia University’s Center on Global Energy Policy, and serves as co-chair of its Women in Energy program.

“With the close of our Pioneer merger, we gained a premier, tier-one Permian asset, exceptional talent and a new Board member who brings keen strategic insight,” says ExxonMobil Chairman and CEO Darren Woods in the release. “Our boardroom, shareholders and stakeholders will greatly benefit from Maria’s experience.”

The GridStor project will boost the Electric Reliability Council of Texas grid. It’s GridStor’s first acquisition in ERCOT territory. Photo via gridstor.com

Oregon energy storage company plans 450-megawatt facility in Galveston County

coming soon

An Oregon startup has purchased a 450-megawatt battery energy storage project in Galveston County.

GridStor, a Portland, Oregon-based developer and operator of battery energy storage systems, bought the project from Moab, Utah-based Balanced Rock Power. The Utah company develops utility-scale solar and energy storage projects.

Financial terms of the deal weren’t disclosed.

GridStor, founded in 2022, is backed by Goldman Sachs Asset Management. The Portland Business Journal reported last November that Goldman Sachs had raised a $410 million fund to fuel its energy storage strategy.

Construction on the Evelyn Battery Energy Storage project is scheduled to get underway this summer, with the system projected to go online in the spring of 2025.

“Battery storage is a scalable and near-term solution to powering historic load growth in Texas,” Chris Taylor, CEO of GridStor, says in a news release. “Every day, batteries are consistently providing energy to stabilize the power system and meet hours of greatest demand in the state.”

The GridStor project will boost the Electric Reliability Council of Texas (ERCOT) grid. It’s GridStor’s first acquisition in ERCOT territory.

The project will be built near the Hidden Lakes substation, which is owned by Texas-New Mexico Power, which now just serves Texas. This proximity will enable batteries to quickly begin grid-connected operations.

This new Texas wind farm is now partly powering Target Corp. Photo via swiftcurrentenergy.com

Central Texas wind energy facility goes online to power Target Corp.

up and running

A Texas wind energy project has officially delivered and is actively providing power to its customer, Target Corp.

Boston-based Swift Current Energy, which has an office in Houston, announced this week that its 197 MW Castle Gap Wind project is operational. It has the capacity to create enough pollution-free energy to power more than 50,000 homes annually.

"Castle Gap Wind is a momentous project for Swift Current Energy as we grow our projects under asset management and operations," Eric Lammers, CEO and co-founder of Swift Current Energy, says in a news release. "Castle Gap Wind is one of the earliest projects supported by the Inflation Reduction Act, and we are thankful for our partners at Target, Goldman Sachs, MUFG, CaixaBank and of course the entire Swift Current Energy team who helped make the Project possible."

Goldman Sachs provided the tax equity for the project, and Target and Swift Current have established long-term virtual power purchase agreement. Additionally, Mitsubishi UFJ Financial Group, or MUFG, and CaixaBank provided project financing.

"Goldman Sachs is pleased to partner with Swift Current Energy on their Castle Gap Wind project," Ryan Newman, head of Tax Equity at Goldman Sachs, says in the release. "Goldman Sachs is committed to financing the energy transition and supporting sponsors like Swift Current that are developing sustainable infrastructure in an effort to combat climate change."

The project is located in the Mills and Lampasas Counties, which are around 90 miles northwest of Austin.

"This Castle Gap Wind contract is a part of our commitment to renewable energy and is one example of how we are leveraging our size and scale to benefit people, the planet and drive our business forward," Erin Tyler, Target's vice president of property management, says in the release.

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Solidec secures pre-seed funding from Houston VC firm

fresh funding

Houston-based Flathead Forge Fund 1 has invested in Houston startup Solidec, which specializes in modular onsite chemical manufacturing.

The investment was part of Solidec’s recent round of more than $2 million in pre-seed funding. The amount of Flathead Forge’s investment wasn’t disclosed.

“Flathead Forge brings exactly the kind of domain-specific capital and operational network that a company at our stage needs. Their focus on water and critical minerals makes this a genuinely strategic relationship,” Ryan DuChanois, co-founder and CEO of Solidec, said in a news release.

Other investors in the round included New Climate Ventures, Collaborative Fund, Echo River Capital, Ecosphere Ventures, Plug and Play Ventures, Safar Partners and Semilla Climate Capital.

Solidec produces industrial chemicals, including hydrogen peroxide, formic acid and acetic acid, using only air, water and electricity. Its modular reactors eliminate the need for energy-intensive production and long-haul distribution.

“Solidec’s platform cuts cost, emissions, and supply-chain fragility at the source,” Douglas Lee, managing director of Flathead Forge, added in the statement.

DuChanois said in an email that the company plans to use the funding to "scale (its) modular chemical manufacturing platform."

Solidec recently announced a pilot project with Lynas Rare Earths, the world’s only commercial producer of separated light and heavy rare earth oxides outside China, for production of hydrogen peroxide for a Lynas facility in Australia.

Solidec, a member of Greentown Labs Houston, spun out of associate professor Haotian Wang’s lab at Rice University in 2024. Wang focuses on developing new materials and technology for energy and environmental uses, such as energy storage and green synthesis.

Greentown Labs names new COO, appoints new Head of Houston

new leaders

Greentown Labs has reshuffled its leadership, elevating Houston leaders into new roles.

Lawson Gow was named COO of the Houston- and Boston-based climatech incubator in February 2026. In his new role, he will focus on optimizing Greentown's structure, building new internal and external systems and developing a plan for growth.

Gow was named Head of Houston in July. He previously founded The Cannon, a coworking space with eight locations in the Houston area, with additional partner spaces. He also recently served as managing partner at Houston-based investment and advisory firm Helium Capital. Gow is the son of David Gow, founder of Energy Capital's parent company, Gow Media.

Kelsey Kearns, who previously served as Director of Community Strategy at Greentown, was named as Gow's replacement in the Houston-focused role. As the new Head of Houston, she will lead daily operations, work to connect the city's climate and innovation ecosystem and founders, strengthen partnerships and accelerate solutions.

"I'm honored and grateful to step into this new role," Kearns said in an email. "My goal is for Greentown to thrive so our founders can thrive! That means supporting their connection to the capital, pilots, and customers they need to grow while building partnerships across Houston's innovation ecosystem. I want Greentown Houston to become the playbook for every future Greentown expansion."

Before joining Greentown Houston, Kearns served as director of business development at Howdy.com, an Austin-based technology staffing company.

"Kelsey is such a perfect fit to lead Greentown Houston," Gow added in an email. "She's deeply passionate about the entrepreneurial community here and has worked throughout and across the ecosystem for years. She's built an awesome dream team here and has helped reinvigorate Greentown's presence and role in Houston's innovation economy."

Earlier this year, Greentown also named Julia Travaglini as the Head of its Boston incubator. Travaglini has held multiple leadership roles at Greentown since 2016. The organization named Georgina Campbell Flatter as its new CEO in early 2025.

Texas sees 5th highest surge in gas prices in the U.S. since 2025

Pay at the Pump

Residents all around Texas are seeing soaring prices for regular and diesel fuel in 2026.

In fact, the Lone Star State has seen the fifth-highest percentage increase in gas prices in the country from April 2025 to April 2026, a just-released SmartAsset study has found. The current cost of a regular gallon of gas is 36.1 percent higher now than it was a year ago, and diesel is 60.9 percent more expensive.

The report, "Gas Prices Hit Records in 2026: State by State Breakdown," compared average gas prices from AAA from April 1, 2025 and April 1, 2026 and calculated the one-year change across all 50 states. The study looked at the price of a gallon of regular, premium, and diesel.

According to AAA, the cost of a regular gallon of gas in Texas at the start of April was $3.77, while premium is $4.62 per gallon. Diesel ticked over $5 a gallon — ouch — at $5.11.

Houston gas prices aren't much cheaper than the statewide average. A gallon of regular costs up to $3.76 at some Houston-area pumps, and diesel is $5.05 per gallon. AAA says the highest recorded average price for gas in the city was in June 2022, when a gallon of regular cost $4.68 and diesel cost $5.24.

Though Texas' gas prices are continuing to climb, it ranks 35th in the national ranking of states with the highest cost for regular gas as of April 2026. Texas' diesel prices are the 14th highest nationwide.

With the national average price for gas at $4.06, SmartAsset said the sudden surge in prices can be attributed to the United States' war on Iran, and "subsequent pressure on the Strait of Hormuz."

"Many states have experienced a 33 percent year-over-year increase in the cost of a gallon of regular gas – and in some places it’s even higher," the report's author wrote. "Commercial and public programs may be feeling similarly pinched, with diesel prices upwards of $6.00 per gallon in many states."

California currently has the highest average price for regular and diesel — $5.89 per gallon and $7.52 per gallon, respectively.

Arizona leads the nation with the highest one-year increase in gas prices. Regular gas in the Grand Canyon State is nearly 38 percent more expensive than it was last year, at $4.70 per gallon, and diesel is about 69 percent higher at $6.04 for a gallon.

The state with the cheapest gas prices in April is Oklahoma, where regular costs $3.27 per gallon, premium is $3.97, and diesel is $4.49.

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This article originally appeared on CultureMap.com.