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Deloitte names new Houston-based leader of energy, chemicals practice

new hire

Teresa Thomas was named vice chair and national sector leader for energy and chemicals at Deloitte. Photo via LinkedIn

Deloitte announced a new local leader to oversee energy and chemicals nationally.

Teresa Thomas was named vice chair and national sector leader for energy and chemicals at Deloitte. Based in Houston, she will also serve as an advisory partner and leader in Deloitte & Touche LLP's Risk & Financial Advisory energy and chemicals practice.

She will lead the strategic direction of Deloitte's energy and chemicals practice and drive program growth in the sector. Thomas succeeds Amy Chronis, partner at Deloitte LLP, who will continue to serve within the energy and chemicals practice until her retirement in June 2024.

"I am fortunate to have worked in the energy and chemicals industry for most of my career, and I'm honored to continue working with companies that are playing a pivotal role in powering progress and purpose," Thomas says in a news release. "Our industry is at the epicenter of the energy transition that can fuel tremendous potential for society, and I'm excited to be leading during this important and transformational time."

Last year, Chronis announced her retirement from Deloitte, and the company named Melinda Yee as the incoming Houston managing partner at Deloitte, a role Chronis held in addition to the title of vice chair and US energy and chemicals leader. Chronis is slated to retire in June 2024, and Yee's new role became effective this month.

Thomas has served in a variety of leadership roles and has more than 20 years of experience in the energy industry. She is used to serving multiple large clients, and developing deep C-suite and board relationships, as well as advising on future success for the business, and the industry as a whole. She was named as one of Hart Energy's 25 most influential women in energy in 2023, and is the vice chair and board member of The Rose, which is a nonprofit women's breast health organization in Southeast Texas.

"Teresa has played an integral role as strategic advisor to many of our valued energy and chemicals clients as they navigate significant transition, and her leadership, enthusiasm and vision will help shape the future of our practice," Stanley Porter, vice chair at Deloitte and U.S. energy, resources and industrials leader, says in a news release. “I am confident that Teresa brings the right vision, experience and relationships to further lead and grow the energy and chemicals sector as it experiences critical transformation and convergence."

A Texas wind energy project goes online — and more energy transition news. Photo via Getty Images

ExxonMobil breaks ground, new Houston corporate leader, and more trending energy transition news

Editor's note: It's been a busy news week for energy transition in Houston, and some of this week's headlines resonated with EnergyCapital readers on social media and daily newsletter. Trending news included news of renewable energy projects, a new corporate appointment, and more.

Houston companies partner on sustainable plastics alternative

Lummus and Citroniq say their first plant, set for completion in 2027, will produce 400,000 metric tons of green polypropylene each year. Photo via lummustechnology.com

Two Houston companies, Lummus Technology and Citroniq Chemicals, have paired up to build North American plants that produce green polypropylene.

Polypropylene is a thermoplastic used to manufacture items such as plastic packaging, plastic parts, medical supplies, textiles, and fibers. Green polypropylene is made from biomass.

Lummus and Citroniq say their first plant, set for completion in 2027, will produce 400,000 metric tons of green polypropylene each year. The plant will be at an undisclosed location in the Midwest. Read more.

Prominent Houston energy business leader to retire, successor named

Amy Chronis is passing over the local leadership reins at Deloitte to Melinda Yee. Photos courtesy

Amy Chronis, a Houston business leader within the energy industry and beyond, is retiring next summer. Her replacement has been named.

Melinda Yee will be the incoming Houston managing partner at Deloitte, replacing Chronis who held the role along with the title vice chair and US energy and chemicals leader. Chronis will retire in June 2024, and Yee's new role is effective January 2.

“Melinda has been an active and valued member of Deloitte’s Houston leadership team. She brings an impressive depth of both industry and marketplace knowledge to her new role as managing partner,” Chronis says in a news release. “I am confident that she will be a great leader for our Houston professionals and in the local community.” Read more.

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

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

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." Read more.

ExxonMobil breaks ground on Texas carbon dioxide storage project

The rig stands 225 feet tall and extends 8,000 feet below the subsurface. Photo via exxonmobil.com

ExxonMobil announced this month that it has officially broken ground on a groundbreaking carbon dioxide storage site.

According to a release from the company, a new rig is currently being used to gather information about an underground site in Southeast Texas. The rig stands 225 feet tall, but more importantly extends 8,000 feet below the subsurface to investigate if the site is a safe place to store carbon underground.

“Everyone’s excited about this appraisal well because we’re literally breaking ground on a new chapter of our work to help reduce industrial emissions,” Joe Colletti, who oversees carbon capture and storage development along the Gulf Coast for Exxon, says in a statement. Read more.

New study from Houston research team looks at how the Earth cycles fossil carbon

A Rice University professor studied the Earth's carbon cycle in the Rio Madre de Dios to shed light on current climate conditions. Photo courtesy of Mark Torres/Rice University

Carbon cycles through Earth, its inhabitants, and its atmosphere on a regular basis, but not much research has been done on that process and qualifying it — until now.

In a recent study of a river system extending from the Peruvian Andes to the Amazon floodplains, Rice University’s Mark Torres and collaborators from five institutions proved that that high rates of carbon breakdown persist from mountaintop to floodplain.

“The purpose of this research was to quantify the rate at which Earth naturally releases carbon dioxide into the atmosphere and find out whether this process varies across different geographic locations,” Torres says. Read more.

Amy Chronis is passing over the local leadership reins at Deloitte to Melinda Yee. Photos courtesy

Prominent Houston energy business leader to retire, successor named

news to know

Amy Chronis, a Houston business leader within the energy industry and beyond, is retiring next summer. Her replacement has been named.

Melinda Yee will be the incoming Houston managing partner at Deloitte, replacing Chronis who held the role along with the title vice chair and US energy and chemicals leader. Chronis will retire in June 2024, and Yee's new role is effective January 2.

“Melinda has been an active and valued member of Deloitte’s Houston leadership team. She brings an impressive depth of both industry and marketplace knowledge to her new role as managing partner,” Chronis says in a news release. “I am confident that she will be a great leader for our Houston professionals and in the local community.”

Yee has worked at Deloitte for over 30 years and has served as both Deloitte’s central region risk and advisory leader as well as the Houston risk and advisory leader. She also held the title of energy and chemicals leader within Deloitte’s mergers, acquisitions, and restructuring services practice. She's worked on transactions across the energy value chain, as well as waste management, manufacturing, industrials, services, retail operations and investment management, per the release.

“I am honored to have been asked to serve as the managing partner for Deloitte’s Houston practice,” Yee says in the release. “I look forward to continuing the great work Deloitte has accomplished under Amy’s leadership, delivering results for our clients and making an impact in the Houston community.”

In addition to her role at Deloitte, she serves as a board member for Junior Achievement of Southeast Texas, a member of the Energy Transition Committee for the Greater Houston Partnership, and is Audit Committee chair, director and trustee at the University of Colorado Foundation.

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CERAWeek announces winners of annual clean tech pitch competition

top teams

Teams from around the world and right here in Houston took home prizes at the fourth annual Energy Venture Day and Pitch Competition at CERAWeek on March 12.

The fast-paced event, put on by Rice Alliance, Houston Energy Transition Initiative and TEX-E, invited 36 industry startups and five Texas-based student teams focused on driving efficiency and advancements toward the energy transition to present at 3.5-minute pitch before investors and industry partners during CERAWeek's Agora program. The competition is a qualifying event for the Startup World Cup, powered by Pegasus Venture, where teams compete for a $1 million investment prize.

The teams at this year's Energy Venture Day have collectively raised $435 million in funding.

Rice University student teams took home two of the three top prizes in the competition.

HEXASpec won the student track, known at TEX-E, taking home $25,000. The team's pitch focused on enhancing semiconductor chips’ thermal conductivity to boost computing power. Pattern Materials, another Rice-led team, claimed third place and won $10,000 for its proprietary LIG and LIGF technology that produces graphene patterns.

A team from the University of Texas McCombs School of Business, Nanoborne, took home second place and $15,000 for its engineering company focused on research and development in applied nanotechnology.

The companies that pitched in the three industry tracts competed for non-monetary awards. Here's who won:

Track A: Hydrogen, Fuel Cells, Buildings, Water, & Other Energy Solutions

Track B: Advanced Manufacturing, Materials, Fossil Energy, & Carbon Management

Track C: Industrial Efficiency, Decarbonization, Electricity, & the Grid

Arculus Solutions, which retrofits natural gas pipelines for safe hydrogen transportation, was named the overall winner and will move on to the Startup World Cup competition. California-based Membravo was also given a "golden ticket" to participate in the next NOV Supernova Accelerator cohort.

Teams at this year's Energy Venture Day represented five countries and 15 states. Click here to see the full list of companies and investor groups that participated.

CERAWeek, renewables acquisition, and more Houston energy news to know

Trending News

Editor's note: It's time to look back at the top EnergyCapitalHTX stories from the first half of March 2025. CERAWeek 2025 tops the list, along with news of a Houston oil and gas producer expanding into renewables and an NRG Energy joint venture. Read on for the details.

1. 50+ teams announced for CERAWeek's annual clean tech pitch competition

Houston-based Solidec took home the top TEX-E price and $25,000 at last year's Energy Venture Day and Pitch Competition. Photo courtesy of HETI

The Rice Alliance for Technology and Entrepreneurship, the Houston Energy Transition Initiative and the Texas Entrepreneurship Exchange for Energy announced the 30-plus energy ventures and five student teams that would pitch at the 2025 Energy Venture Day and Pitch Competition during CERAWeek.

The ventures are focused on driving efficiency and advancements toward the energy transition and will each present a 3.5-minute pitch before a network of investors and industry partners during CERAWeek's Agora program.

The pitch competition is divided up into the TEX-E university track, in which Texas student-led energy startups compete for $50,000 in cash prizes, and the industry ventures track. Continue reading.

2. Houston oil and gas producer expands into renewables, announces new Baytown facility

Houston American Energy Corp. plans to acquire Abundia Global Impact Group, which will build its first advanced plastic recycling facility in the Cedar Port Industrial Park in Baytown. Photo via Getty Images

Houston American Energy Corp. (NYSE: HUSA), an oil and gas exploration and production company, has entered into a definitive agreement to acquire New York-based Abundia Global Impact Group LLC, which specializes in converting waste into high-value fuels and chemicals.

HUSA is expected to close on the AGIG acquisition early in the second quarter and says the deal aims to provide value through “innovation in the renewable energy sector.” Continue reading.

3. CERAWeek 2025 returns to Houston featuring U.S. energy policy leaders

The CERAWeek by S&P Global 2025 programming will focus on energy policy and the reshaping energy landscape. Photo courtesy of CERAWeek

CERAWeek by S&P Global brought together energy leaders from around the world for its 43rd annual conference, March 10–14, at the Hilton Americas Houston.

U.S. Secretary of Energy Chris Wright and U.S. Secretary of the Interior Doug Burgum headlined the conference with plenary addresses focused on strengthening global energy security.

Wright’s company, Liberty Energy, is also an investor in Houston-based geothermal company Fervo Energy. Burgum also chairs the newly formed White House National Energy Dominance Council and was previously the governor of North Dakota. Continue reading.

4. Supreme Court confronts what to do with growing pile of nuclear waste

Republicans and Democrats, environmental groups and the oil and gas industry all oppose the temporary sites. Photo via uh.edu

The Supreme Court heard arguments in a fight over plans to store nuclear waste at sites in rural Texas and New Mexico. President Joe Biden's administration and a private company with a license for the Texas facility appealed a ruling by the 5th U.S. Circuit Court of Appeals that found that the Nuclear Regulatory Commission exceeded its authority in granting the license. The outcome of the case will affect plans for a similar facility in New Mexico roughly 40 miles away.

On this issue, President Donald Trump's administration is sticking with the views of its predecessor, even with Texas Gov. Greg Abbott, a Republican ally of Trump, on the other side.

The push for temporary storage sites is part of the complicated politics of the nation’s so far futile quest for a permanent underground storage facility. Continue reading.

5. NRG Energy forms joint venture to build power plants for ERCOT and AI-driven demand

A new joint venture will work on four projects supplying 5 gigawatts of power from combined-cycle power plants for the ERCOT and PJM Interconnection grids. Photo via Getty Images.

Houston-based power provider NRG Energy Inc. has formed a joint venture with two other companies to meet escalating demand for electricity to fuel the rise of data centers and the evolution of generative AI.

NRG’s partners in the joint venture are GE Vernova, a provider of renewable energy equipment and services, and TIC – The Industrial Co., a subsidiary of construction and engineering company Kiewit. Continue reading.

Baker Hughes launches major clean energy initiatives with U.S. military and more

clean team

Energy tech company Baker Hughes announced two major clean energy initiatives this month.

The Houston-based company has teamed up with Dallas-based Frontier Infrastructure to develop carbon capture and storage (CCS), power generation and data center operations in the U.S.

Baker Hughes will supply technology for Frontier’s nearly 100,000-acre CCS hub in Wyoming, which will provide open-access CO2 storage for manufacturers and ethanol producers, as well as future Frontier projects. Frontier has already begun drilling activities at the Wyoming site.

“Baker Hughes is committed to delivering innovative solutions that support increasing energy demand, in part driven by the rapid adoption of AI, while ensuring we continue to enable the decarbonization of the industry,” says Lorenzo Simonelli, chairman and CEO of Baker Hughes.

Additionally, Baker Hughes announced this week that it was selected by the U.S. Air Force and the Department of Defense’s Chief Digital and Artificial Intelligence Office (CDAO) to develop utility-scale geothermal power plants that would power global U.S. military bases.

Baker Hughes was granted an "awardable," or eligible, status through the CDAO's Tradewinds Solutions Marketplace, which aims to accelerate "mission-critical technologies," including AI, machine learning and resilient energy technologies. The potential geothermal plants would provide cost-effective electricity, even during a grid outage.

“The ability of geothermal to provide reliable, secure baseload power makes it an ideal addition to America’s energy mix,” Ajit Menon, vice president of geothermal, oilfield services and equipment at Baker Hughes, said in a news release. “Baker Hughes has been a pioneer in this field for more than 40 years and our unique subsurface-to-surface expertise and advanced technology across the geothermal value chain will help the U.S. military unlock this critical domestic energy source, while simultaneously driving economic growth and energy independence.”

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