The Houston Auto Show and Houston Boat Show (Houston AutoBoative) run from Jan. 2–Feb. 2. Photo via Houston Auto Show/Facebook

The Houston Auto Show and Houston Boat Show (Houston AutoBoative) have returned to NRG Center this month, and for the first time, the popular events are part of the Automotive Experience Alliance (AEA).

Launched in October, the AEA is a coalition of about 30 auto shows that aim to drive innovation and standardization throughout the auto show industry, according to a news release.

“Formed out of a year-long strategic planning project, the Automotive Experience Alliance unites industry leaders committed to pushing the boundaries of automotive innovation while driving interest in and education of the latest vehicles and technology via an exciting and interactive event designed for the consumer,” AEA Chairman Kevin Mazzucola said in a release. “The AEA will initially focus on defining a set of standards that all associated members will adopt, including transparency with third-party audited attendance numbers and expanded demographic and purchase intent data.”

Clean energy coalition Evolve Houston is sponsoring the Houston Auto Show and providing attendees with the opportunity to test drive the latest electric vehicle offerings during its outdoor ride and drive.

Additionally, the show promises sports cars, trucks, and boats, and it includes attractions like sightings of three space rovers from NASA.

From the auto industry, vehicles from Nissan, Rolls Royce, Subaru, Toyota, Bentley, BMW, Bugatti, Buick, Cadillac, Chevrolet, Dodge, Ford, GMC, Honda, Hyundai, Ineos, Infiniti, Jeep, Kia, Lexus, Lincoln, Lotus, Mazda, and Volkswagen are on display.

While forming the AEA, 10 U.S. auto shows conducted the Auto Show Insights Initiative to gain feedback from 14,908 auto show attendees about the events to help strengthen shows for members in the coalition and streamline processes for the industry.

Other AEA members include the Austin Auto Show, North Texas Auto Expo and the San Antonio Auto Show, as well as others around the country.

“We’re thrilled to join the Automotive Experience Alliance and contribute to a more innovative future for automotive shows nationwide,” Wyatt Wainwright, President of the Houston Auto Show and AEA Vice President, said in a news release. “Leading as an example, we’ve created the AutoBoative Show, a first-of-its-kind event designed to bring like minded individuals together, broadening our reach to include both auto and boating enthusiasts. The past three years of this collaboration showcases our commitment to evolving with consumer interests and providing a unique, immersive experience that resonates with a wider audience.”

Evolve Houston, which was launched as part of Houston’s Climate Action Plan and is one of the organizations leading the way in the EV space. The nonprofit set out to have 30 percent of the vehicles in Houston be electric by 2030 while improving regional air quality and reducing greenhouse gas emissions in the Greater Houston area.

Houston AutoBoative runs from Jan. 2–Feb 2. Find more tickets and more information here.

Buckle up for the 2024 Houston Auto Show this week, which will prominently feature EV tech. Photo via Houston Auto Show/Facebook

Electric vehicles to take center stage at annual Houston event

vroom, vroom

Houston Auto Show, which is a long running event for auto enthusiasts, will feature its largest electronic vehicle representation to date this year.

The event will feature an EV Pavillion and Evolve Houston’s electronic showroom at the January 24 to 28 event at NRG Center. Attendees will have the opportunity to learn about what it means to go the EV route from environmental impact, performance, cost effectiveness, and other factors.

This year, vehicles like Nissan's Ariya Platinum+ AWD, Chevrolet’s Bolt EV, Ford’s F-150 Lightning and others will be on display at the EV Pavillion. CenterPoint Energy, Reliant, and the University of Houston were part of Evolve's 2023 showroom.

A recent study from SmartAsset ranked states with the most electric vehicle chargers by looking at the closest equivalent to a trip to the gas station, in terms of “refueling” – per capita. Texas is behind other similarly-sized states.

“Houston maintains some of the lowest population density and longest commute distances of major U.S. cities, and we have an immense amount of business and goods that flow through Houston,” Casey Brown, executive director and president of EVOLVE, previously told EnergyCapital. “We see a landscape that can uniquely achieve larger financial and environmental benefits of EV technologies. One way that we share these benefits is being the Presenting Sponsor of the Houston Auto Show.”

Houston Automobile Dealers Association Executive Vice President and event organizer RoShelle Salinas has noted there has been an uptick in EV demand for these events since the first one debuted at the 2020 show.

Evolve Houston, which was founded in 2018 through Houston’s Climate Action Plan, is one of the organizations leading the way in the EV space, as the company still aims for its goal to have half of the vehicles in the city be electric by 2030. Evolve assists and funds those looking to make the transition to electric with the Grant Tracker, which aims to make it easier to find funding opportunities, and assist with current grants available to organizations and individuals that are committed to a goal of zero emissions. The tracker serves as a tool to assist with purchasing an EV and charging equipment.

The Biden administration recently announced it is awarding $623 million in grants to help build an electric vehicle charging network across the nation. Grants will fund 47 EV charging stations and related projects in 22 states and Puerto Rico, including 7,500 EV charging ports according to officials. Texas is expected to see a chunk of that funding. Last year, the city of Houston approved $281,000 funding for the expansion of free electric vehicle rideshare services in communities that are considered underserved by utilizing services like RYDE and Evolve Houston.

“Evolve Houston has been a sponsor for 2 years and their display has been a great addition to the show because it is not only educational, but there is also a chance for people to test drive vehicles,” Salinas says.

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Major Texas energy port wrestles with water crisis due to years of drought

Resource Report

In parched southern Texas, a yearslong drought has depleted Corpus Christi's water reserves so gravely that the city is scrambling to prevent a shortage that could force painful cutbacks for residents and hobble the refineries and petrochemical plants in a major energy port.

Experts said the city didn't expect such a bad drought, and new sources of reliable water didn't arrive as expected. Those problems arose as the city increased its water sales to big industrial customers.

“We just have not kept up with water supply and water infrastructure like we should have. And it's decades in the making,” said Peter Zanoni, the city manager since 2019.

Corpus Christi, a city of about 317,000 people that also supplies water to nearby counties, is closely tied to its oil and gas industry. The region makes everyday essentials like fuel and steel and ships them to the world.

Zanoni said it is highly unlikely the city will run out of water, but without significant rainfall or new sources, residents may face forced cutbacks and industry may have to do with less. At a time when the Iran war is already raising gas prices, the shortage is hitting an area that produces 5% of the U.S. gasoline supply.

Droughts are common, but this one has dragged on for most of the past seven years. Key reservoirs are at their lowest point ever. The quickest fix is different weather.

“We are actively praying for a hurricane,” former city council member David Loeb said, half in jest. Loeb doesn't want anyone injured, but after wrestling with previous droughts in his time on the council, he feels the lack of rain acutely.

The drought isn't expected to lift by summer, leaving officials scrambling to tap more groundwater to avoid an emergency.

Lessons from last time

After the last drought in the early 2010s, the city approved a pipeline extension to bring in more water from the Colorado River and promoted conservation. In the years that followed, water use actually fell. The city, seeing opportunity, added a petrochemical plant and steel mill to its long list of industrial customers.

City officials had allowed for drought in their calculations — just not this kind of drought, Zanoni said. It has hit especially hard because reservoirs never fully recharged after the last one.

And it's come at a bad time.

After many years, the pipeline extension finally delivered its full capacity only last year. Meanwhile, discussion of building a desalination plant that would remove salt from seawater — a potentially drought-proof solution recommended in 2016 — bogged down over concerns about costs as high as $1.3 billion and environmental impact.

“If the then-city council had followed through on that, we would have had that plant up and running by now,” Zanoni said.

It's an industry town

Corpus Christi has followed its long-established plan for reducing water use. Stage 1 seeks voluntary actions from citizens like taking shorter showers and limiting how often they can water. Currently, the city is in Stage 3, which means pauses on many outdoor water uses.

Many residents are angry that they can’t water their lawns, that their bills are set to rise sharply and that they may face fines, said Isabel Araiza, co-founder of a grassroots group active on water issues. Some don’t feel industry will be asked to share in the pain, she said.

The city's drought plan allows for charging residents and businesses extra if they use lots of water. But big industry, which Zanoni says consumes as much as 60% of the city's water, can opt to pay a permanent surcharge to avoid the possibility of having a much larger fee added in times of drought.

Araiza calls it a bad system. Once industry pays the surcharge, she said, they have no incentive to conserve water.

The city has defended the system, saying in a statement that industry does not “get a pass on water conservation” or forced curtailment. The statement said the business surcharges have raised $6 million a year.

It is wrong to suggest industry isn’t helping, said Bob Paulison, executive director of the Coastal Bend Industry Association. Companies have stopped landscaping, they recycle water for essential cooling needs and they are looking for alternative water sources, he said.

The city hasn't imposed extra costs on anyone yet.

But Zanoni said water rates may eventually double as the city invests roughly $1 billion on infrastructure — costs that some argue will disproportionately benefit industry and make life for residents more expensive.

What's the way out?

The city is in a water emergency when it has 180 days before water supply can't keep up with demand. Officials have run through different scenarios for getting new water and the drought easing, and have said an emergency could come as early as May, as late as October, or not at all.

The city has tapped into millions of gallons of new groundwater, and it hopes to get even more.

The biggest unknown is the Evangeline Groundwater Project, which involves a pipeline and about two dozen wells that could add enough water to head off an emergency. It still needs state approval but the city hopes water could be flowing as soon as November. New sources come with drawbacks – some have raised water quality concerns, and there are worries too much pumping could deplete groundwater.

If the city has to declare a water emergency, it would be able to more aggressively curtail water use – mandatory reductions that would apply evenly to all industry and residents. That is a sensitive decision and is likely to be a “knock-down drag-out bloodbath,” Loeb said.

Because residents on average have already reduced their water use, future mandatory cuts are likely to fall heavier on industry.

“It’ll be an unbelievable disaster,” said Don Roach, former assistant general manager of the San Patricio Municipal Water District that has lots of industrial customers in the area. “When you cut the cooling water off to most of these industries, they just have to shut down. There’s no other way around it.”

Paulison said companies that produce fuel, polymers, iron and steel “have the least amount of flexibility in just cutting water usage.” He added, however, that companies remain optimistic they can reduce usage, adapt and continue operations.

Zanoni said the city's plans should buy time to avert the worst.

“We are hoping we don’t get there, but we don’t work on hope,” he said.

Fervo Energy officially files for initial public offering

going public

Fervo Energy has officially filed for IPO.

The Houston-based geothermal unicorn filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission on April 17 to list its Class A common stock on the Nasdaq exchange. Fervo intends to be listed under the ticker symbol "FRVO."

The number and price of the shares have not yet been determined, according to a news release from Fervo. J.P. Morgan, BofA Securities, RBC Capital Markets and Barclays are leading the offering.

The highly anticipated filing comes as Fervo readies its flagship Cape Station geothermal project to deliver its first power later this year

"Today, miles-long lines for gasoline have been replaced by lines for electricity. Tech companies compete for megawatts to claim AI market share. Manufacturers jockey for power to strengthen American industry. Utilities demand clean, firm electricity to stabilize the grid," Fervo CEO Tim Latimer shared in the filing. "Fervo is prepared to serve all of these customers. Not with complex, idiosyncratic projects but with a simplified, standardized product capable of delivering around-the-clock, carbon-free power using proven oil and gas technology."

Fervo has been preparing to file for IPO for months. Axios Pro first reported that the company "quietly" filed for an IPO in January and estimated it would be valued between $2 billion and $3 billion.

Fervo also closed $421 million in non-recourse debt financing for the first phase of Cape Station last month and raised a $462 million Series E in December. The company also announced the addition of four heavyweights to its board of directors last week, including Meg Whitman, former CEO of eBay, Hewlett-Packard, and Spring-based HPE.

Fervo reported a net loss of $70.5 million for the 2025 fiscal year in the S-1 filing and a loss of $41.1 million in 2024.

Tracxn.com estimates that Fervo has raised $1.12 billion over 12 funding rounds. The company was founded in 2017 by Latimer and CTO Jack Norbeck.

Houston lawmaker may kill data center tax breaks due to $8B revenue loss

looking at the data

An influential Houston-area state senator is raising concerns about potentially billions of dollars in lost state revenue from tax breaks for Texas data centers—and is pondering legislation that would abolish the tax incentives.

Citing data from the state comptroller’s office, The Texas Tribune reports the state stands to lose nearly $8 billion in revenue from 2026 to 2030 due to sales tax and use tax exemptions for data centers. During the state’s 2025 fiscal year, which ended on Aug. 31, these tax exemptions caused Texas to lose a little over $1 billion, up from an earlier estimate of $130 million.

“These new numbers are extremely concerning, and I will say they’re unsustainable,” Republican state Sen. Joan Huffman, chairwoman of the state Senate Finance Committee, tells The Texas Tribune. “I plan to look at filing legislation to either repeal the exemption or take a very close look at it and see.”

Texas on track to be No. 1 data center market in U.S.

Scrutiny of the tax breaks comes amid an explosion of data center development in Texas, where data provider Aterio identifies nearly 1,000 centers that are operating, under construction or planned.

A report issued in January by Bloom Energy says the state is poised to become the No. 1 U.S. market for data centers within three years. By 2028, according to the report, Texas is projected to exceed 40 gigawatts of data center capacity—representing nearly 30 percent of total U.S. demand.

Among companies benefiting from the data center boom are:

  • Tech titans like Apple, Google, Meta Platforms, and Microsoft, which are spending billions of dollars to build data centers in Texas.
  • Spring-based ExxonMobil and Houston-based Chevron, two oil and energy giants that are developing natural gas plants to supply power for data centers.
  • Houston-based energy technology company Baker Hughes, which is collaborating with Google Cloud to develop AI-enabled power optimization and sustainability software for data centers.
  • DataBank, Data Foundry, Equinix, Digital Realty, Lumen Technologies, and IBM, all of which operate data centers in the Houston area.

The Texas Legislature will begin debating tax breaks for data centers in July, when Huffman’s Senate Finance Committee meets for an interim hearing before the 2027 legislative session, according to the Tribune.

Data center industry defends tax breaks

Leaders in the data center industry warn that watering down or halting the tax breaks could slow down or even end Texas’ ascent in the data center sector.

A 2025 report commissioned by the Data Center Coalition found that in 2024, data centers provided more than $1.6 billion in state tax revenue and almost $1.6 billion in local tax revenue in Texas. Over the next several years, according to the report, planned development of data centers in the Lone Star State could generate almost $3.8 billion in state tax revenue and more than $4.9 billion in local tax revenue.

In 2024, the Houston area had 8.1 million gross square feet of data centers, with the properties’ real estate investments sitting at $10 billion, according to the report. That year, data centers in the region produced a little over $700 million in state and local tax revenue. About 60 data centers operate in the Houston area.

Watchdog group warns of tax breaks’ danger to state budgets

On the other side of the debate over tax breaks for data centers, a report released last year by Good Jobs First, a nonprofit, nonpartisan watchdog group that tracks economic development incentives, decries the tax breaks as dangerous to state budgets.

“We know of no other form of state spending that is so out of control. Therefore, we recommend that states cancel their data center tax exemptions,” says Good Jobs research analyst Kasia Tarczynska, co-author of the report. “Shy of that, states should amend … legislation to cap how much any facility and company can avoid paying in taxes each year.”