The conversation with Jason Beck of ZettaWatts offers a glimpse into the exciting world of energy transition.

For Jason Beck, a cleaner future is personal. That's why his company, ZettaWatts, is making clean energy more affordable and available.

In this Energy Tech Startups episode, we dive deep into the world of energy transition technologies with Beck from ZettaWatts. Jason shares his unique perspective on the evolving energy landscape, the importance of climate journeys, and the innovative solutions ZettaWatts is bringing to the table.



The conversation with Beck offers a glimpse into the exciting world of energy transition. As we move towards a more sustainable future, it's essential to stay informed and engaged with the latest developments in the sector.

Energy Tech Startups: What is ZettaWatts' primary mission in the energy transition landscape?

Jason Beck: ZettaWatts is deeply committed to enabling energy transition technologies to reach the market and improve their financial viability. The company's primary goal is to bridge the gap between groundbreaking technologies and the financial structures that support them. By doing so, they hope to accelerate the adoption of sustainable energy solutions.

ETS: You mentioned the importance of individual "climate journeys." Can you elaborate on this concept?

JB: Absolutely. A climate journey refers to an individual's evolving understanding and commitment to sustainability and climate action. It's a personal path that often starts with a growing awareness of environmental issues and culminates in concrete actions to address them. My own journey began with a realization of the pressing need for collective action against climate change. It's essential for everyone to embark on their climate journey, as it fosters a sense of responsibility and drives impactful change.

ETS: Houston is emerging as a hub for energy transition. What makes the city stand out in this regard?

JB: Houston's energy ecosystem is vibrant and diverse. Historically known for its oil and gas industry, the city is now embracing renewable energy and sustainable solutions. This shift is evident in the increasing number of startups, research institutions, and established companies focusing on green energy in the region. The collaborative spirit and wealth of resources make Houston an ideal place for companies like ZettaWatts to thrive.

ETS: How does ZettaWatts differentiate itself as a market maker in the energy sector?

JB: Unlike traditional bilateral markets, ZettaWatts operates as a market maker by aggregating demand and supply. This unique approach allows for instant diversification, reducing risks for both buyers and sellers. By acting as a central hub, ZettaWatts can efficiently match renewable energy projects with interested investors, streamlining the process and ensuring optimal outcomes for all parties involved.

ETS:  Decarbonization by 2050 is a significant goal. How do you see renewable energy playing a role in achieving this target?

JB: Renewable energy is pivotal in addressing the carbon problem. To achieve decarbonization by 2050, we need a comprehensive plan, and renewable energy sources like wind, solar, and hydro play a crucial role in this roadmap. I highly recommend the book "Speed and Scale" as it provides a master plan for this ambitious goal. With the right strategies and collective effort, I believe we can create a sustainable future.

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This conversation has been edited for brevity and clarity. Click here to listen to the full episode.

Hosted by Jason Ethier and Nada Ahmed, the Digital Wildcatters’ podcast, Energy Tech Startups, delves into Houston's pivotal role in the energy transition, spotlighting entrepreneurs and industry leaders shaping a low-carbon future. Digital Wildcatters is a Houston-based media platform and podcast network, which is home to the Energy Tech Startups podcast.

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Houston energy tech platform Molecule closes series B funding

energy software

Houston-based energy trading risk management (ETRM) software company Molecule has completed a successful series B round for an undisclosed amount, according to a July 16 release from the company.

The raise was led by Sundance Growth, a California-based software growth equity firm.

Sameer Soleja, founder and CEO of Molecule, said in the release that the funding will allow the company to "double down on product innovation, grow our team, and reach even more markets."

Molecule closed a $12 million Series A round in 2021, led by Houston-based Mercury Fund, and has since seen significant growth. The company, which was founded in 2012, has expanded its customer base across the U.S., U.K., Europe, Canada and South America, according to the release.

Additionally, it has launched two new modules of its software platform. Its Hive module, which debuted in 2022, enables clients to manage their energy portfolio and renewable credits together in one scalable platform. It also introduced Elektra, an add-on for the power market to its platform, which allows for complex power market trading.

"Four years ago, we committed to becoming the leading platform for energy trading," Soleja said in the release. "Today, our customers are managing complex power and renewable portfolios across multiple jurisdictions, all within Molecule.”

Molecule is also known for its data-as-a-lake platform, Bigbang, which enables energy ETRM and commodities trading and risk management (CTRM) customers to automatically import trade data from Molecule and then merge it with various sources to conduct queries and analysis.

“Molecule is doing something very few companies in energy tech have done: combining mission-critical depth with cloud-native, scalable technology,” Christian Stewart, Sundance Growth managing director, added in the statement. “Sameer and his team have built a platform that’s not only powerful, but user-friendly—a rare combination in enterprise software. We’re thrilled to partner with Molecule as they continue to grow and transform the energy trading and risk management market.”

D.C. energy company secures $233M for ERCOT battery storage projects

fresh funding

The Electricity Reliability Council of Texas’ grid will get a boost courtesy of Lydian Energy.

The D.C.-based company announced the successful financial close of its first institutional project financing totaling $233 million, backed by ING Group and KeyBank. The financing will support three battery energy storage system (BESS) projects in Texas.

Lydian is an independent power producer that specializes in the development, construction and operation of utility-scale solar and battery energy storage projects. The company reports that it plans to add 550 megawatts of energy—which can power approximately 412,500 homes—to the Texas grid administered by ERCOT.

“This financing marks an important step forward as we continue executing on our vision to scale transformative battery storage projects that meet the evolving energy needs of the communities we serve,” Emre Ersenkal, CEO at Lydian Energy, said in a news release.

The projects include:

Pintail 

  • Located in San Patricio county
  • 200 megawatts
  • Backed by ING

Crane

  • Located in Crane county
  • 200 megawatts
  • Backed by ING

Headcamp

  • Located in Pecos county
  • 150 megawatts
  • Backed by KeyBank

ING served as the lender for Pintail and Crane projects valued at a combined total of approximately $139 million.

KeyBank provided a $94 million financing package for the Headcamp project. KeyBanc Capital Markets also structured the financing package for Headcamp.

The three projects are being developed under Excelsior Energy Capital’s Fund II. Lydian’s current portfolio comprises 20 solar and storage projects, totaling 4.7 gigawatts of capacity.

“Our support of Lydian’s portfolio reflects ING’s focus on identifying strategic funding opportunities that align with the accelerating demand for sustainable power,” Sven Wellock, managing director and head of energy–renewables and power at ING, said in the release. “Battery storage plays a central role in supporting grid resilience, and we’re pleased to back a platform with strong fundamentals and a clear execution path.”

The facilities are expected to be placed in service by Q4 2025. Lydian is also pursuing additional financing for further projects, which are expected to commence construction by the end of 2025.

“These financings represent more than capital – they reflect the strong demand for reliable energy infrastructure in high-growth U.S. markets,” Anne Marie Denman, co-founding partner at Excelsior Energy Capital and chair of the board at Lydian Energy, added in the news release. “We’re proud to stand behind Lydian’s talented team as they deliver on the promise of battery storage with bankable projects, proven partners, and disciplined execution. In the midst of a lot of noise, these financings are a reminder that capital flows where infrastructure is satisfying fundamental needs of our society – in this case, the need for reliable, sustainable, domestic, and affordable energy.”