Houston-based developer claims $98 million tax equity investment for Texas energy storage facility

seeing green

Plus Power's storage facility, being built on 13 acres in Comal County, is scheduled to come online this spring. Photo courtesy of Plus Power

The Woodlands-based Plus Power has collected an estimated $98 million tax equity investment for its 200-megawatt Ebony Energy Storage facility near San Antonio.

Plus Power says the investment from Solana Beach, California-based Greenprint Capital Management will help stabilize the Energy Reliability Council of Texas (ERCOT) power system “during dynamic summer demand and cold winter storms while helping to integrate more renewable energy into the grid.”

The storage facility, being built on 13 acres in Comal County, is scheduled to come online this spring.

Peter DeFazio, managing director of Greenprint, calls Plus Power “a first mover” among owner-operators of standalone battery energy storage facilities in the U.S. Plus Power owns a portfolio of large-scale lithium-ion battery systems in more than 25 states and Canada.

“As the state and the country experience increasingly extreme temperatures, we are proud that our projects can provide grid services that will help ERCOT increase reliability and meet abnormally high demand,” says Josh Goldstein, chief financial officer of Plus Power.

By this summer, Plus Power expects to be operating four storage plants in the ERCOT market with 800 megawatts of total capacity.

Plus Power announced in 2023 that it completed a $1.8 billion financing for Ebony and four other projects in Texas and Arizona. The financing included $196 million in construction and term financing for the Comal County project.

Five of Plus Power's projects received financing from nearly a dozen financial partners. Photo courtesy of Plus Power

Houston renewable energy storage developer secures $1.8B in financing

money moves

A Houston company that develops standalone battery energy storage systems has reportedly secured $1.8 billion in new financing for a handful of ongoing projects — most of which are in Texas.

"Over the last year, Plus Power has raised an unparalleled amount of capital for standalone storage projects from a wide range of leading energy project finance banks and investors," Josh Goldstein, CFO of Plus Power, says in a news release. "This capital will support the ongoing buildout of the largest and most diverse portfolio of standalone storage projects in the U.S. The scale highlights our first-mover advantage in bringing high-quality projects to market as well as the tremendous work by our fantastic team."

The funding will be distributed to the following projects, which are expected to have a total of 1,040 megawatts of capacity, according to the release:

The 250-megawatt Sierra Estrella Energy Storage facility in Avondale, Arizona, west of Phoenix will use $707 million of the financing — $202 million of tax equity and a $505 million construction, term loan, and letter of credit facility from Bank of America. Expected to deliver by summer of next year, the 11-acre facility will be the largest to date for a standalone energy storage project, according to Plus Power.
$212.2 million of tax equity financing from Foss & Company, as well as $276 million of construction and term financing, for the 300 MW / 600 MWh Rodeo Ranch Energy Storage facility in Pecos.
$196 million of construction and term financing for the 200 MW / 400 MWh Ebony Energy Storage facility in Comal County, northeast of San Antonio.
$200 million of construction and term financing for the 200 MW / 400 MWh Anemoi Energy Storage facility in Hidalgo County, on the Mexican border northwest of Matamoros.
$196 million construction, term loan and letter of credit facility for the 90 MW / 360 MWh Superstition Energy Storage project in Gilbert, southeast of Phoenix.

The $884 million committed to three new standalone storage facilities in Texas bring Plus Power's current ERCOT portfolio to 800 MW. Deutsche Bank and First Citizens Bank were the coordinating lead arrangers, per the news release.

"Plus Power is a market leader in the battery energy storage sector and we are honored to have collaborated with them on these breakthrough financings," Jeremy Eisman, managing director and head of Infrastructure & Energy Financing at Deutsche Bank, says in a statement. "We acknowledge the important role that battery storage plays in ensuring a clean and reliable electric grid and look forward to continuing to support the Plus Power team's continued growth in this sector."

Plus Power's portfolio includes large-scale lithium-ion battery systems across 25 states and Canada. The company reports that three of the projects will be completed before next year's summer heat rolls back in.

Originally founded in San Francisco in 2018, Plus Power moved its HQ to Houston last year. The company recently signed a lease for nearly 7,000 square feet at Three Hughes Landing in The Woodlands. The company previously was based in coworking space at the Rayford Office Park in Spring.

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Houston clean energy tax compliance platform tops the Inc. 5000 in 2026

Top of the List

Houston-based Empact Technologies has ridden the clean energy wave to the Inc. 5000’s 30 fastest-growing private companies.

With three-year revenue growth of 8,275 percent, the clean energy tax credit compliance management platform appears at No. 27 on this year’s Inc. 5000 list. The 2026 list ranks private companies based on percentage revenue growth from 2022 to 2025.

Empact Technologies, also ranks as the No. 2 fastest-growing company in Houston and the No. 4 fastest-growing company in Texas.

Originally founded by Charles Dauber in 2012, Empact Technologies relaunched in 2023 as a purpose-built tool for clean energy tax credit compliance, following the creation of the Inflation Reduction Act, the largest clean energy investment incentive in U.S. history.

It provides a platform for clean energy developers, investors, and contractors, and combines its NexusIQ AI-native compliance platform with a dedicated team of technical and regulatory experts to ensure ongoing compliance and documentation.

Empact Technologies is joined by six other Houston-area companies in the top 250 of this year's Inc. 5000, including one that made the top 10.

Here are the six other Houston-area companies that claimed spots in the top 250 on the Inc. 5000 list. Each company name is followed by its ranking, headquarters city, and three-year growth rate.

No. 6 Equipe Realty, 23,210 percent
No. 60 Action1, 4,512 percent
No 75 Signs By G, 3,684 percent
No. 79 The ’Pause Life, 3,469 percent (Galveston)
No. 110 Turtlebox Audio, 2,576 percent
No. 178 Dahnani Private Equity Group, 1,904 percent (Stafford)

Empact and fellow honorees will be recognized Oct. 14-16 at the 2026 Inc. 5000 Conference & Gala in Dallas.

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A version of this article first appeared on InnovationMap.com.

Sage Geosystems brings South Texas geothermal plant online

powering up

Houston-based Sage Geosystems, a provider of geothermal power, has begun full operations at its South Texas facility for the San Miguel Electric Cooperative.

Sage says the plant was recently “placed in service,” according to a news release. This means it’s fully built and tested, and ready to generate and supply electricity to the grid.

Since selling its first electricity in Q2 of this year, the facility has been operating for more than four months to evaluate aspects like efficiency and water management. Sage relied on its GeoTwin modeling tool to carry out some of the testing.

The testing demonstrates Sage’s proprietary approach to geothermal power “overcomes one of the industry’s most persistent challenges, high water losses in engineered reservoirs, while delivering the consistent performance required to scale next-generation geothermal,” co-founder and CEO Cindy Taff said in the release.

Sage says the South Texas facility will serve as a model for future projects, including one in Nevada. The Nevada facility will use Sage’s proprietary technology to extract geothermal heat from hot dry rock, creating a reliable, affordable source of carbon-free power.

During the testing period, water losses amounted to less than 10 percent. This low rate indicates most water remains in the system, enabling Sage to capture more usable energy, boost power production and improve the project’s finances, the company says.

“Commercial geothermal isn’t just about creating a reservoir. It’s about creating one whose performance can be engineered, predicted, and consistent,” Lev Ring, the company’s co-founder, president and chief technology officer, said in the release.

Since being founded in 2020, Sage has raised $159 million in outside funding. This includes a more than $97 million Series B round co-led by Ormat Technologies and Carbon Direct Capital.

Two years ago, Sage announced a deal with Meta Platforms, the parent company of Facebook and Instagram, to supply up to 150 megawatts of geothermal power to Meta data centers.

Halliburton Labs adds 3 energy, materials startups to Houston incubator

green team

Three new companies have joined Halliburton Labs, the incubator for early-stage energy and hardtech startups run by Houston energy giant Halliburton.

Halliburton Labs provides the emerging companies with mentorship, industry connections, laboratory access and other resources as they work toward commercialization. The latest companies to join the incubator focus on battery materials, resource recovery and gas separation solutions to address some of the "key bottlenecks in the energy and industrial landscape," according to a news release.

The new members include:

Electroflow, a California-based company that produces lithium iron phosphate (LFP) cathode material from lithium brines through its proprietary process. LFPs are critical components in batteries used in electric vehicles, grid storage systems and industrial electrification, according to Halliburton Labs.
Osmoses, a Cambridge, Massachusetts-based company that has developed a membrane platform to reduce the energy use, cost and emissions associated with gas separations used in natural gas, hydrogen, helium and other industrial applications
SiTration Inc., another Cambridge, Massachusetts-based company that has developed electro-extraction and filtration technologies to recover critical metals like copper directly from mining waste streams more quickly and affordably. Its process has completed successful pilot projects with Tier 1 mining companies in three continents.

"Affordable and reliable molecules are essential building blocks of the energy future. Each company brings a bold, technical solution to a complex industrial challenge. We look forward to helping them scale and deploy their technologies," Andres Cabada, Halliburton Labs managing director, added in the news release.

Halliburton Labs previously added four new members from around the world —Nandina REM, Noon Energy, Proof Energy and Tidal Metals—this spring. Alumni from the incubator include Houston-based companies like NanoTech Materials, which is developing insulation and fireproofing to reduce heat transfer in buildings and outdoor infrastructure; and SolvCor, which develops water additives to improve cooling for data centers and thermal storage.

With the addition of the three new members, the incubator currently supports nine early-stage companies.

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