ADVERTISEABOUT USSUBMIT A STORYSUBSCRIBETERMS OF USEPRIVACY POLICY
Visit our family of Brands

HETI members to cover key energy transition topics at CERAWeek 2024

the view from HETI

The sessions feature dozens of HETI Steering Committee leaders covering key energy transition topics. Photo via htxenergytransition.org

CERAWeek 2024, the world’s preeminent energy conference, will explore strategies for a multidimensional, multispeed and multifuel energy transition. More than 8,000 thought leaders, policymakers, and executives from across energy, finance, technology, and governments are convening in Houston to openly discuss our industry’s greatest challenges.

Taking place from March 18–22, 2024, the CERAWeek 2024 conference program will explore themes related to: energy markets, policy and geopolitics, company strategies, power markets in transition, new supply chains for net zero, capital transition, and technology and innovation.

The sessions feature dozens of HETI Steering Committee leaders covering key energy transition topics, including:

Session Theme: Energy Markets

Innovating the Energy Mix for Mobility
Monday, March 18, 2024 | 3:45 pm – 4:25 pm (CST)

Speakers: Meg Gentle, Executive Director of the Board, HIF Global; Emma Delaney, EVP, customers & products, bp

For over a century, the modern economy has been made possible by a global fossil fuel system that has delivered low-cost, scalable energy. Now after optimizing transportation fuels, engines and infrastructure, monumental changes are needed to power our future cars, trucks and airplanes while producing significantly less emissions. What’s next?

Energy Security in a Volatile World: The importance of markets
Tuesday, March 19, 2024 | 9:15 am – 9:50 am (CST)

Speaker: John Hess, Chief Executive Officer, Hess Corporation

Across the world, markets continue to seek visibility into what the post-pandemic normal will look like. How will supply and demand balance in a world of uncertainty?

Co-Location: The new duo of power generation and storage
Wednesday, March 20, 2024 | 12:00 pm – 12:50 pm (CST)

Speaker: Meghan Nutting, Sunnova Energy International, Inc.

Business models for grid-connected energy storage are being solidified around the world, leading to accelerated growth. In addition, “co-location” projects—pairing battery storage with renewable generation—are an increasingly attractive option for developers because of the flexibility and added value they place on generation assets.

Natural Gas for a Growing Global Economy
Wednesday, March 20, 2024 | 2:30 pm – 3:10 pm (CST)

Speakers: Peter Clarke, Senior Vice President, Global LNG, ExxonMobil International Limited; Lorenzo Simonelli, Chairman & Chief Executive Officer, Baker Hughes; Clay Neff, President, International Exploration and Production, Chevron

Natural gas continues to play a major role in the global economy. How will the industry reconcile security of supply, environmental considerations, and the need to be affordable?

Session Theme: Climate & Sustainability

Accelerating Carbon Management
Monday, March 18, 2024 | 11:50 am – 12:30 pm (CST)

Speakers: Richard Jackson, President, U.S. Onshore Resources and Carbon Management Operations, Oxy; Zoe Yujnovich, Integrated Gas and Upstream Director, Shell

According to the International Plant Protection Convention (IPCC), large-scale Carbon Dioxide Removal (CDR) is required to limit warming to 1.5 °C. What is the technology outlook for difficult-to-decarbonize sectors like heavy industry, and emissions-mitigation scenarios?

Measuring Tomorrow’s Risks: Quantifying physical risks in a warmer world
Monday, March 18, 2024 | 2:00 pm – 2:30 pm (CST)

Speaker: Lynda Clemmons, Chief Sustainability Officer, NRG Energy

As climate change intensifies, understanding and measuring the physical risks associated with changing climate are paramount. With 2023 being the hottest year on record, and the U.S. experiencing extreme weather events costing over $150 billion annually, managing and adapting to physical climate risks is becoming increasingly critical.

CCUS Infrastructure: The key to commercializing decarbonization
Tuesday, March 19, 2024 | 8:30 am – 9:00 am (CST)

Speakers: Carl Fortin, Global Marketing for Carbon Capture Utilization & Storage, ExxonMobil; Fred Majkut, Senior Vice President, Carbon Solutions, SLB

As CCUS projects become more developed globally, there will be more frequent requirements for long-distance and cross-border business dealings to connect players across the chain from carbon capture, transportation and storage. What sort of policies, financing, stakeholder engagement and economic solutions are required to realize the potential of CCUS in these situations?

Reducing Emissions in Supply Chains
Tuesday, March 19, 2024 | 10:30 am – 11:00 am (CST)

Speaker: Heloisa Schmidt, Corporate Sustainability Manager, Bechtel

Reducing emissions through the supply chain is an important priority for all energy producers and suppliers. Which state-of-the-art practices can best reduce embedded carbon or operational emissions from supply chain operations?

Managing Carbon Projects: Lessons and solutions
Tuesday, March 19, 2024 | 3:10 pm – 3:50 pm (CST)

Speakers: Jeff Gustavson, President, Chevron New Energies; Dan Holton, Senior Vice President, Low Carbon Solutions, STRATEGY, PRODUCTS & NEW ASSETS, ExxonMobil

The development of large carbon management projects and hubs, involving large industrial partners, is a key requirement for reaching net zero. Discover the policies and programs contributing to marked growth in carbon management projects.

Balancing Act: Incentivizing decarbonization and renewables
Wednesday, March 20, 2024 | 9:30 am – 10:00 am (CST)

Speaker: Tomeka McLeod, Vice President Hydrogen & CCS, US, bp United States

There are several pathways to lower emissions. The world will probably need an all-of-the-above strategy instead of an either-or strategy to get to net zero. Are today’s policy tools creating adequate incentives for investment in both decarbonization pathways such as CCS, H2, DAC and renewable energy?

Future-Proofing Energy Assets: Repurposing for low-carbon
Wednesday, March 20, 2024 | 1:30 pm – 2:00 pm (CST)

Speaker: Edward Stones, Business Vice President, Dow, Inc.

Repurposing of energy assets to enable low-carbon energy projects is an increasingly common strategy across the energy sector—in upstream, downstream, and in the power sector. Which drivers enable industry players to take advantage of their existing assets in this way? What regulatory support is most helpful? Which regions offer the most potential?

Session Theme: Company Strategies

Strategic Choices in a Net Zero World
Monday, March 18, 2024 | 11:00 am – 11:40 am (CST)

Speaker: Meg O’Neill, Chief Executive Officer & Managing Director, Woodside Energy

While the world needs a growing supply of affordable, reliable, and sustainable energy in line with net-zero goals, companies need to choose their own path through the energy transition. Divergent strategies are emerging as companies seek growth opportunities while responding to pressures from investors and governments.

The Global Energy Company
Tuesday, March 19, 2024 | 10:45 am – 11:15 am (CST)

Speaker: Olivier Le Peuch, Chief Executive Officer, SLB

The push to decarbonize the global economy is opening new vistas of opportunity and risk for major international energy companies. Global companies are continuing to invest in their core businesses as they look for new growth opportunities in the energy transition.

The Multidimensional Energy Transition: A world of choices
Tuesday, March 19, 2024 | 12:55 pm – 2:10 pm (CST)

Speaker: Vicki Hollub, President & Chief Executive Officer, Oxy

Pushing for a single, global energy transition path is unrealistic and could derail efforts to reach net-zero emissions. Energy security and affordability come to the fore when lives and livelihoods are at stake. What are the paths for energy transition that also support economic growth and global prosperity in different regions and different sectors?

Carbon Credits: Opportunities and challenges as a policy tool
Tuesday, March 19, 2024 | 1:00 pm – 1:30 pm (CST)

Speaker: Barbara Harrison, Vice President, Offsets & Emerging, Chevron New Energies, Chevron

———

This article originally ran 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.

The week, which will be hosted at the Ion and around Houston, will gather investors, industry leaders, and startups from across the energy industry to showcase Houston's growing sustainability community. Photo via the Ion

Houston to host inaugural climate tech and energy-focused week

coming soon

Three organizations are teaming up to put on a week of programming and events focused on energy and climate startups.

Greentown Labs, Halliburton Labs, and the Rice Alliance for Technology and Entrepreneurship have announced Houston Energy and Climate Startup Week 2024 taking place September 9 to 13.

“These organizations will execute events that will serve as a launching pad for an Energy and Climate Startup Week in Houston, showcasing the city as a national hub for the energy future,” Brad Burke, executive director of the Rice Alliance, says in the release. “We welcome the community to bring other energy and climate events to the week, which we’ll cross-promote as the dates approach.”

The week will assemble investors, industry leaders, and startups from across the energy industry and from around the world to showcase Houston's growing sustainable, low-carbon energy future.

The initiative is in collaboration with the Houston Energy Transition Initiative, or HETI, an initiative of the Greater Houston Partnership, as well as Activate, Digital Wildcatters, Renewable Energy Alliance Houston, and TEX-E.

“As the energy capital and one of the most diverse cities in the world, Houston stands as a center point for these solutions. The region is welcoming, diverse and has the know-how to play a critical role in building an energy abundant, low-carbon future," Jane Stricker, executive director of HETI and senior vice president at GHP, says in the release. "We welcome all who want to be part of the solution to join for this exciting, inaugural week of events.”

Attendees can expect tech and startup showcases, panels, pitches, discussions, and networking events to be hosted across Houston and at the Ion, Rice's innovation hub in Midtown. More details on the events will be added to the Ion's website as they become available.

“We look forward to the opportunity to highlight talented founders and connect them with investors, industry practitioners and university resources to help accelerate energy innovation,” Dale Winger, managing director of Halliburton Labs, says in the release. “The collaboration to launch Energy and Climate Startup Week reflects how Houston works together to scale solutions."

———

This article originally ran on InnovationMap.

The pitch day will feature more than 40 energy ventures driving efficiency and advancements toward the energy transition showcasing their companies. Photo via htxenergytransition.org

HETI, collaborators open pitch competition applications for annual CERAWeek event

the view from heti

The Rice Alliance for Technology and Entrepreneurship, the Houston Energy Transition Initiative (HETI) and TEX-E have opened applications for their Energy Venture Day and Pitch Competition at CERAWeek, set to take place in the Agora program on March 20.

The pitch day will feature more than 40 energy ventures driving efficiency and advancements toward the energy transition showcasing their companies. The fast-paced competition is designed to connect energy startups with venture capitalists, corporate innovation groups, industry leaders, academics and service providers.

Ventures will be showcased across three industry tracks, spanning materials to clean energy. Industry experts and investors will judge the pitches, and the top three ventures from each track will be named at the conclusion of the event. The pitches from energy ventures will include a university track, the TEX-E Prize, highlighting the innovation of five Texas student-led energy startups. With mentorship leading up to the competition, these student startups will compete for $50,000 in cash prizes.

“The goal of the TEX-E Prize is to support, encourage and inspire students across the state of Texas to pursue entrepreneurship as a means of reducing emissions and building a healthier, more resilient society,” said David Pruner, executive director at TEX-E.

Energy ventures for all tracks of the competition are asked to apply by Feb. 9. More details about eligibility can be found at alliance.rice.edu/EVD.

“The Energy Venture Day and Pitch Competition at CERAWeek bring together key members of the energy ecosystem, investors and startups to showcase innovations and emerging technologies that create value from the world’s transition to low-carbon energy systems,” said Jane Stricker, senior vice president at the Greater Houston Partnership and executive director of HETI. “We are thrilled to partner with our ecosystem partner, Rice Alliance, on this exciting event at CERAWeek and build on the momentum of the last few years.”

“In addition to the access to investors and awareness at CERAWeek, this is an invaluable opportunity to pitch in front of active investors, corporates and key players in the energy industry,” said Brad Burke, executive director of the Rice Alliance and vice president for industry and new ventures in Rice’s Office of Innovation. “The Energy Venture Day and Pitch Competition at CERAWeek is a platform designed to foster innovation, collaboration and investment in the ever-evolving energy landscape.”

Learn more about this year’s pitch day here.

The Houston Energy Transition Initiative has added six new members. Photo via htxenergytransition.org

Houston organization names 6 new members working toward a low-carbon future

the view from heti

The Greater Houston Partnership’s The Houston Energy Transition Initiative welcomes six new member companies including, one executive level and five investor level. HETI members are champions in their fields, each creating innovative solutions for a sustainable and low-carbon future. Our members are critical to continue to position our region to lead the global energy transition.

Executive Member

Mitsubishi Heavy Industries is one of the world’s leading industrial groups, spanning energy, smart infrastructure, industrial machinery, aerospace, and defense. MHI Group combines cutting-edge technology with deep experience to deliver innovative, integrated solutions that help to realize a carbon neutral world, improve the quality of life and ensure a safer world.

Investor Level Members

Eni Next LLC is a corporate venture capital company, created to integrate corporate research, with open innovation, enhancing the value of dynamic and innovative start-ups through early-stage financing and successive capital increases. Eni Next evaluates and invests in companies developing technologies with a lower carbon footprint for energy production, improved efficiency for our industrial operations and digital solutions.

Honeywell International Inc. invents and commercializes technologies that address some of the world’s most critical challenges around energy, safety, security, air travel, productivity, and global urbanization. They are a leading software-industrial company committed to introducing state of the art technology solutions to improve efficiency, productivity, sustainability, and safety in high growth businesses in broad-based, attractive industrial end markets.

Natixis Investment Managers is a global asset management company. Ranked among the world’s largest asset managers, Natixis delivers a diverse range of solutions across asset classes, styles, and vehicles. The company is dedicated to advancing sustainable finance and developing innovative ESG products.

Stantec is a global design and delivery leader in sustainable engineering, architectural planning, and environmental services. Stantec’s multidisciplinary teams address climate change, urbanization, and infrastructure resiliency. The company is at the forefront of innovations to enhance environmental and social opportunities. The Stantec community unites more than 26,000 employees working in over 400 locations across six continents.

Vopak North America is an independent infrastructure provider with an unrivaled network of 78 terminals in 23 countries and 25+ joint venture partners, connecting the supply and demand for products that are essential to the economy and the daily lives of people around the world. Vopak takes pride in improving access to cleaner energy and feedstocks for a growing world population, ensuring safe, clean and efficient storage and handling of bulk liquid products and gases.

———

This article originally ran 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.

"In reflecting upon my journey through Houston’s energy landscape, it’s evident that the city stands on the cusp of a transformative era." Photo via Getty Images

Houston’s revolutionary energy shift: A personal journey of discovery

the view from heti

The following was written by Pavan Kumar Medepalli, MBA candidate at UNC Kenan-Flagler Business School.

As I reflect on my past visit to Houston, it’s not the usual sights or activities that linger but the pulse of a city redefining its energy narrative. The vibrant energy, the breakthroughs in innovation, and the spirited conversations with passionate individuals left an indelible mark. To my LinkedIn community, I invite you to join me on this journey into the heart of Houston’s transformative landscape.

Houston, traditionally known as the “Energy Capital of the World,” is now pioneering a new path. My recent trip provided a deep dive into its evolution from a primary energy hub to a beacon of global energy transition. At the forefront of this change are entities like HETI, Ion, Renewable Energy Alliance Houston, and Greentown Labs, each shaping a vibrant ecosystem of innovation.

During my recent three-day trip to Houston, I had the incredible opportunity to immerse myself in some of the city’s most groundbreaking and influential spaces dedicated to energy innovation and sustainability. The experience was nothing short of transformative, and I’m eager to share some of the highlights and personal takeaways from this journey.

Houston Energy Transition Initiative (HETI):

HETI, with its compelling mission to revolutionize the energy landscape, stands out as a beacon of Houston’s dedication to sustainable change. This initiative capitalizes on Houston’s rich energy heritage, tapping into its vast infrastructure, expertise, and financial prowess, aiming to facilitate the global transition towards a cleaner, sustainable energy future.

One of the highlights of my trip was the privilege of interacting with Jane Stricker, Vice President of HETI. Her insights were invaluable. As the VP elaborated, HETI’s goal is not just about innovating for cleaner energy but establishing a framework where the transition is inclusive, impactful, and resilient. The organization aims to bring together diverse stakeholders, from industry stalwarts to budding researchers, forging a collective vision for the energy future.

It was quite interesting to know that HETI is backed by its member companies like ExxonMobil, Chevron, BP, SABIC and their strategy is to:

  • Jumpstart efforts in the sectors where Houston has a strategic advantage, Like CCUS, Clean Hydrogen, Circular Economy, and Energy Storage Solutions.
  • Attract and support companies in established new energy industries like Wind, Solar, RNG, Low-carbon LNG, and biofuels.

I truly appreciate the efforts of HETI and Greater Houston Partnership for their continuous efforts to be at the forefront of Energy Transition.

Ion

The Ion has provided a perfect ecosystem for founders, researchers, innovators, investors and corporate leaders to build scalable enterprises.

Navigating the vibrant ecosystem of the Ion innovation hub in downtown Houston, I quickly realized its uniqueness. This hub isn’t just about co-working spaces or networking events; it offers a dynamic platform where founders and innovators come to life with their ideas. I sensed the entrepreneurial spirit in every corner, every discussion, and every presentation.

In my exploration, I discovered that startups, both budding and established, frequently have opportunities to pitch their ideas. This isn’t just a standard pitch session; it’s a transformative experience. Founders present their innovations and visions to an audience that’s a blend of seasoned professionals, industry experts, and potential investors. Each pitch session felt like a grand performance, filled with passion, determination, and vision.

What’s even more impressive is how these sessions cater to investors. For them, the Ion hub becomes a treasure trove of opportunities. As an investor, sifting through numerous pitches can be a daunting task. But here, the environment ensures they witness only the most promising and aligned pitches, allowing them to identify the right investment opportunities that match their portfolios and interests.

The frequency of these pitches ensures a continuous flow of fresh ideas, and as a founder, you’re always in front of an audience that matters. It’s a win-win: founders get regular feedback and potentially find the right partners, while investors stay updated with the latest innovations and can quickly spot the next big thing.

Immersing myself in this environment, I felt the palpable excitement. Founders eagerly prepping for their pitches, investors actively engaged in discussions, and the continuous buzz of potential collaborations. The Ion hub has successfully created a space where ideas meet capital, where dreams meet reality, and where every pitch could be the beginning of the next big success story.

Greentown Labs

As I delved deeper into the ecosystem of Greentown Labs after my engagement with The Ion, I was struck by the holistic approach this hub takes toward nurturing innovation. Beyond being a space for clean tech and sustainable ventures, Greentown Labs offers a myriad of resources tailored for startups.

One of the standout features is their state-of-the-art prototyping labs. Founders have access to cutting-edge equipment, enabling them to transform their visionary ideas into tangible prototypes, fast-tracking the path from concept to realization.

But it’s not just about physical resources. Greentown Labs champions a collaborative ethos. Shared resources mean startups can lean on each other, pooling knowledge and skills and fostering an environment of mutual growth. This spirit of collaboration extends to their mentorship programs. New ventures can tap into a wealth of experience, gaining insights and guidance from seasoned professionals who’ve walked the path before.

Engaging with founders from CLS Wind and Mars Materials, it became evident how such an integrated support system propels their ambitions. Greentown Labs, in essence, is more than just a hub; it’s a community. A community where sustainability meets innovation, where ideas are nurtured with the right tools and mentorship, and where the future of clean tech is being crafted.

A special thank you to Jane Stricker from Houston Energy Transition Initiative (HETI), whose passion and vision for a sustainable energy future left a profound impact on me; Kay McCall from Renewable Energy Alliance – Houston, whose leadership and insights were truly enlightening; Barbara Burger, whose innovative approach to bridging traditional energy with emerging technologies is commendable; and Joey Sanchez from Ion Houston, whose deep understanding of Houston’s business ecosystem and dedication to fostering change enriched my perspective immensely. Each of you played a pivotal role in making my experience memorable and filled with invaluable learnings. Thank you for your time, willingness to share, and for being such inspiring figures in this transformative journey Houston is undertaking.

In reflecting upon my journey through Houston’s energy landscape, it’s evident that the city stands on the cusp of a transformative era. The concerted efforts of organizations like HETI, Ion, and Greentown Labs exemplify Houston’s unwavering commitment to reimagining its energy identity. This isn’t just about evolving from its storied past as the “Energy Capital of the World.” It’s about setting the gold standard for what energy transition on a global scale looks like. Houston’s evolution, fueled by innovation, collaboration, and sheer determination, sends a resounding message to the world: the energy transition is not just feasible; it’s already underway. The endeavors and successes in this space are a testament to Houston’s vision and resilience, proving that any city can redefine its narrative with the right framework and community. As I conclude my reflections, I’m filled with a profound sense of optimism. Houston, you’ve not only lived up to your legacy but are also charting a new course that will inspire generations to come.

———

This article originally ran 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.

The Energy Institute High School is uniquely positioned to build a lifelong foundation for those pursuing degrees and careers in the energy industry. Photo via htxenergytransition.org

Building the future of STEM leadership at Houston's energy-focused high school

the view from heti

Established in 2013, Houston’s Energy Institute High School is the first of its kind in the United States. Houston Independent School District (HISD), the nation’s seventh-largest school district, opened the innovative, STEM-focused magnet high school to support Houston’s increasing demand for STEM education and align with the city’s status as a major energy hub.

As the Energy Capital of the World, Houston is the leading domestic and international center for virtually every segment of the energy industry. It’s home to more than 4,700 energy-related firms, employs nearly a third of the nation’s jobs in oil and gas extraction, and boasts the world’s fourth-largest concentration of engineers. Houston’s economic vitality and growth is inextricably tied to the energy industry and depends on a strong STEM talent pool for the future.

The Energy Institute High School is uniquely positioned to build a lifelong foundation for those pursuing degrees and careers in the energy industry. The specialized high school prepares students for careers in the energy sector, as well as related fields such as environmental science and engineering, by providing a specialized learning experience centered around science, technology, engineering, and math. The Energy Institute High School integrates the energy theme into its entire STEM curriculum through a wide array of technology, hands-on projects, and experiential learning designed to inspire students and fuel continued interest in the energy field. And with up to 60% of students from economically disadvantaged backgrounds, the school plays a crucial role in fostering equal education opportunities and breaking down barriers to success that many students face.

“As principal of the first high school devoted to preparing students for careers in the energy field, my goal is to deliver extraordinary firsts in learning,” said Lori Lambropoulos, Principal of Energy Institute High School. “I am thrilled to be the leader of a school that is participating in a thematic approach to the school experience—mingling the exploration of energy careers with cutting-edge education.”

Over the years, the school has cultivated partnerships with local energy companies, organizations, and institutions—including HETI founding members bp, Chevron, ExxonMobil, and lyondellbasell—to provide students with real-world experiences and coveted industry connections. The Energy Institute High School works closely with an advisory board comprised of energy industry leaders and higher-education professionals to provide programs and enrichment opportunities for students, including:

  • A biweekly guest speaker series
  • University campus tours
  • Field trip sponsorships
  • Mentorship opportunities
  • College scholarships
  • Internships and externships

These partnerships have provided students from Energy Institute High School with invaluable networking opportunities and firsthand insights into the energy industry.

As the energy industry shifts toward a more efficient and sustainable, low-carbon future, graduates from the Energy Institute High School will play a vital role in accelerating the energy transition, not only in Houston, but across the world.

Learn more about Energy Institute High School and how you can support their mission through Friends of Energy Institute.

———

This article originally ran 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.

Ad Placement 300x100
Ad Placement 300x600

CultureMap Emails are Awesome

Property Showcase

3 organizations in Houston receive funding for DOE-backed programming

coming soon

A clean technology program backed by the Wells Fargo Foundation and co-administered by the United States Department of Energy's National Renewable Energy Laboratory has named three Houston organizations as recipients to an annual awards program.

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 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.

"We are celebrating this year's Strategic Award winners and looking forward to Camp Cleantech," says Robyn Luhning, chief sustainability officer at Wells Fargo, in a news release. "As the real economy demands more lower-carbon solutions, Wells Fargo continues to support the scaling of new solutions for a successful shift to a low-carbon economy."

Registration for the event opens May 1. A full itinerary is available online.

The selected participants represent IN²'s broader goals of diversity, equity, and inclusion, per the release.

"The significance of this year's awards goes beyond the recognition of innovation; it embodies a concerted effort to elevate collaboration and engagement across the board," adds Sarah Derdowski, IN² program director at NREL. "Through Camp Cleantech, we're setting a new standard in how we gather, inspire, and propel our community forward."

Around $435,000 of the funding will go toward select recipients who will receive additional follow-on funding to enhance and expand their workshop content and insights towards entrepreneurs in their local networks.

Global law firm names partner to build growing infrastructure, energy transition business

new hire

An international law firm has named a new partner in the Houston office to help build its growing infrastructure and energy transition capabilities

Weil, Gotshal & Manges announced infrastructure lawyer Jacqui Bogucki has returned to the firm.

"Jacqui will be an extremely valuable addition to our growing Houston team,” says Weil Executive Partner Barry Wolf in a news release. “Her significant infrastructure experience – including in the digital sector – and strong relationships with leading investment professionals will help to advance our fast-growing infrastructure and energy transition capabilities, and will be an immediate value-add to our clients globally.”

She will advise private equity sponsors and strategic clients on a wide range of corporate transactions. Her focus will include infrastructure, digital, technology, energy transition, and oil and gas sectors. Previously, Bogucki was a partner in the Mergers & Acquisitions practice at Simpson Thacher & Bartlett LLP. Her previous stint at Weil was from 2014 through 2018.

“I am so pleased to have the opportunity to return to Weil, where I began my legal career,” says Bogucki in a news release. “It is an incredibly exciting time to be joining the Firm as it further builds out its infrastructure and energy transition capabilities. I look forward to reconnecting with former colleagues and leveraging my experience to provide the highest quality service to our clients.”

Since 2023, notable energy partners Omar Samji, Chris Bennett, Cody Carper, and Irina Tsveklova have joined Weil in Houston – with Steven Lorch joining in New York just last month.

Tesla Q1 profit falls by more than half, but stock jumps amid production of cheaper vehicles

EV evolution

Tesla’s first-quarter net income plummeted 55 percent, but its stock price surged in after-hours trading Tuesday as the company said it would accelerate production of new, more affordable vehicles.

The Austin, Texas, company said it made $1.13 billion from January through March compared with $2.51 billion in the same period a year ago.

Investors and analysts were looking for some sign that Tesla will take steps to stem its stock's slide this year and grow sales. The company did that in a letter to investors Tuesday, saying that production of smaller, more affordable models will start ahead of previous guidance.

The smaller models, which apparently include the Model 2 small car that is expected to cost around $25,000, will use new generation vehicle underpinnings and some features of current models. The company said it would be built on the same manufacturing lines as its current products.

On a conference call with analysts, CEO Elon Musk said he expects production to start in the second half of next year “if not late this year.”

New factories or massive new production lines won't be needed for the new vehicles, Musk said.

“This update may result in achieving less cost reduction than previously expected but enables us to prudently grow our vehicle volumes in a more capex efficient manner during uncertain times,” the investor letter said.

But Musk gave few specifics on just what the new vehicles will be and whether they would be variants of current models. “I think we’ve said all we will on that front,” he told an analyst.

He did say that he expects Tesla to sell more vehicles this year than last year's 1.8 million.

The company also appears to be counting on a vehicle built to be a fully autonomous robotaxi as the catalyst for future earnings growth. Musk has said the robotaxi will be unveiled on Aug. 8.

Shares of Tesla rose 11 percent in trading after Tuesday’s closing bell, but they are down more than 40 percent this year. The S&P 500 index is up about 5 percent for the year.

Morningstar analyst Seth Goldstein said the company gave guidance about its future that was clearer than in the past, allaying investor concerns about production of the Model 2 and future growth. “I think for now we're likely to see the stock stabilize," he said. “I think Tesla provided an outlook today that can make investors feel more assured that management is righting the ship.”

But if sales fall again in the second quarter, the guidance will go out the window and concerns will return, he said.

Tesla reported that first-quarter revenue was $21.3 billion, down 9 percent from last year as worldwide sales dropped nearly 9 percent due to increased competition and slowing demand for electric vehicles.

Excluding one-time items such as stock-based compensation, Tesla made 45 cents per share, falling short of analyst estimates of 49 cents, according to FactSet.

The company’s gross profit margin, the percentage of revenue it gets to keep after expenses, fell once again to 17.4 percent. A year ago it was 19.3 percent, and it peaked at 29.1 percent in the first quarter of 2022.

Over the weekend, Tesla lopped $2,000 off the price of the Models Y, S and X in the U.S. and reportedly made cuts in other countries including China as global electric vehicle sales growth slowed. It also slashed the cost of “Full Self Driving” by one third to $8,000.

Tesla also announced last week that it would cut 10 percent of its 140,000 employees, and Chief Financial Officer Vaibhav Taneja said Tuesday the cuts will be across the board. Growth companies build up duplication that needs to be pruned like a tree to continue growing, he said.

Musk has been touting the robotaxi as a growth catalyst for Tesla since the hardware for it went on sale late in 2015.

In 2019, Musk promised a fleet of autonomous robotaxis by 2020 that would bring income to Tesla owners and make their car values appreciate. Instead, they've declined with price cuts, as the autonomous robotaxis have been delayed year after year while being tested by owners as the company gathers road data for its computers.

Neither Musk nor other Tesla executives on Tuesday's call would specify when they expect Tesla vehicles to drive themselves as well as humans do. Instead, Musk touted the latest version of Tesla’s autonomous driving software — which the company misleadingly brands as “Full Self Driving” despite the fact that it still requires human supervision — and said that “it’s only a matter of time before we exceed the reliability of humans, and not much time at that.”

It didn’t take the Tesla CEO long to begin expounding on the possibility of turning on self-driving capabilities for millions of Tesla vehicles at once, although again without estimating when that might actually occur. He went on to insist that “if somebody doesn’t believe that Tesla is going to solve autonomy, I think they should not be an investor in the company.”

Early last year the National Highway Traffic Safety Administration made Tesla recall its “Full Self-Driving” system because it can misbehave around intersections and doesn’t always follow speed limits. Tesla's less-sophisticated Autopilot system also was recalled to bolster its driver monitoring system.

Some experts don't think any system that relies solely on cameras like Tesla's can ever reach full autonomy.

View All Listings