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

Buoyed by $1.3B sales backlog, microgrid company ERock files for IPO

eyeing ipo

ERock Inc., which previously did business as Enchanted Rock, is filing for IPO. Photo via erock.com

Another energy company in Houston is going public amid a flurry of energy IPOs.

Houston-based ERock Inc., which specializes in utility-grade onsite microgrid systems for data centers and other customers, has filed paperwork with the U.S. Securities and Exchange Commission (SEC) to sell its shares on the New York Stock Exchange.

The ERock filing follows the recent $1.9 billion IPO of Houston-based Fervo Energy, a provider of geothermal power that’s now valued at $7.7 billion.

Another Houston energy company, EagleRock Land, just went public in a $320 million IPO that values the company at $3 billion. EagleRock owns or controls about 236,000 acres in the Permian Basin, earning money from royalties, fees, easements, water services and other revenue streams tied to drilling on its land.

According to Barron’s, more than a dozen energy and energy-related companies in the U.S. have gone public since the beginning of 2025, with the bulk of the IPOs happening this year.

ERock’s SEC filing doesn’t identify the per-share pricing range for the IPO or the number of Class A shares to be offered. ERock is a portfolio company of Energy Impact Partners, a New York City-based venture capital and private equity firm that invests in energy companies.

The company previously did business as Enchanted Rock. ERock Inc., formed in January, will function as a holding company that controls predecessor company ER Holdings Ltd.

In 2025, ERock generated revenue of $183.1 million, up 42.5 percent from the previous year, according to the IPO filing. It recorded a net loss of $59 million last year.

As of March 31, ERock boasted a sales backlog of nearly $1.3 billion, up 779 percent on a year-over-year basis. The company attributes most of that increase to greater demand from data centers.

The company primarily serves the power needs of data centers, utilities, industrial facilities, and commercial buildings. Its biggest markets are Texas and California.

“Several U.S. markets, such as Texas and California, face especially acute reliability risks,” ERock says in the SEC filing. “Texas already shows rapid load-growth pressures tied to data centers and industrial expansion, while California faces grid congestion, long interconnection queues, and above-average vulnerability to extreme heat- and weather-driven outages.”

Since its founding in 2018, ERock has installed microgrid systems at more than 400 sites with a capacity of about 1,000 megawatts. Customers include ComEd, Foxconn, H-E-B, Microsoft and Walmart.

By the end of this year, the company plans to expand its production of microgrid systems to a capacity of about 1.2 gigawatts with the opening of its Hyperion facility in Houston.

John Carrington leads ERock as CEO. He joined ER Holdings last year as chairman and CEO. Carrington previously was CEO of Houston-based Stem, a public company that offers AI-enabled clean energy software and services. Earlier, he spent 16 years at General Electric.
From Your Site Articles
John Carrington is now CEO of Enchanted Rock. Photo courtesy Enchanted Rock.

Houston microgrid company names new CEO

new hire

Houston-based electric microgrid company Enchanted Rock has named a new CEO.

John Carrington has assumed the role after serving as Enchanted Rock's executive chairman since June, the company announced earlier this month.

Carrington most recently was CEO of Houston-based Stem, which offers AI-enabled software and services designed for setting up and operating clean energy facilities. He stepped down as Stem’s CEO in September 2024. Stem, which was founded in 2006 and went public under Carrington's leadership in 2021, was previously based in San Francisco.

Carrington has also held senior leadership roles at Miasolé, First Solar and GE.

Corey Amthor has served as acting CEO of Enchanted Rock since June. He succeeded Enchanted Rock founder Thomas McAndrew in the role, with McAndrew staying on with the company as a strategic advisor and board member. With the hiring of Carrington, Amthor has returned to his role as president. According to the company, Amthor and Carrington will "partner to drive the company’s next phase of growth."

“I’m proud to join a leadership team known for technical excellence and execution, and with our company-wide commitment to innovation, we are well positioned to navigate this moment of unprecedented demand and advance our mission alongside our customers nationwide,” Carrington said in the news release. “Enchanted Rock’s technology platform delivers resilient, clean and scalable ultra-low-emissions onsite power that solves some of the most urgent challenges facing our country today. I’m energized by the strong momentum and growing market demand for our solutions, and we remain committed to providing data centers and other critical sectors with the reliable power essential to their operations.”

This summer, Enchanted Rock also announced that Ian Blakely would reassume the role of CFO at the company. He previously served as chief strategy officer. Paul Froutan, Enchanted Rock's former CTO, was also named COO last year.

The new microgrid will be built on ViVa Center, a campus that was originally developed for Compaq. Photo via vivaversesolutions.com

New collaboration to build data center microgrid in Houston

coming soon

Two companies are teaming up to build a natural gas microgrid in Houston that will reduce emissions by 98 percent.

Provider of prime and backup power solutions RPower has teamed up with Houston’s ViVaVerse Solutions to build a 17-megawatt (MW) microgrid at the ViVa Center campus in Houston, which is expected to be commissioned by the end of the year.

The microgrid plans to employ ultra-low emissions and natural gas generators to deliver Resiliency-as-a-Service (RaaS), and this will connect to ViVaVerse's colocation data center operations during utility outages.

RPower will also deploy the microgrid across different ERCOT market programs, which will contribute to assist with essential capacity and ancillary services for the local grid. ERCOT has increased its use of renewable energy in recent years, but still has faced criticism for unstable conditions. The microgrids can potentially assist ERCOT, and also help cut back on emissions.

“RPower's pioneering microgrid will not only deliver essential N+1 resiliency to our data center operations but will also contribute to the local community by supplying necessary capacity during peak demand periods when the electric grid is strained,” Eduardo Morales, CEO of ViVaVerse Solutions and Morales Capital Group, says in a news release.

ViVaVerse Solutions will be converting the former Compaq Computer/HPE headquarters Campus into an innovative technology hub called the ViVa Center, which will host the High-Performance Computing Data Center, and spaces dedicated to mission critical infrastructure and technical facilities . The hub will host 200 data labs.

“We are thrilled to partner with ViVaVerse to deploy this `first of its kind' microgrid solution in the data center space,” Jeff Starcher, CEO of RPower, adds. “Our natural gas backup generation system delivers the same reliability and performance as traditional diesel systems, but with a 98 percent reduction in emissions. Further, the RPower system provides critical grid services and will respond to the volatility of renewable generation, further enabling the energy transition to a carbon free future.”

Paul Froutan has been named COO of Enchanted Rock. Photo via Enchanted Rock

Houston-based microgrid company names new COO

c-suite switchup

Houston-based Enchanted Rock, which provides dual-purpose microgrids, announced that Paul Froutan has been named COO.

Froutan joined Enchanted Rock in 2022 as the chief technology officer. He will replace Thais Grossi, who served in the role for nearly eight years.

Froutan previously led Google's Global Data Center Operations and was responsible for managing Google's worldwide data center and server operations. He also served as the vice president of engineering for Rackspace Hosting, and holds a Bachelor of Science in mechanical engineering and an MBA from the University of Texas at Austin.

“Since joining Enchanted Rock, I've been impressed with the team's vast knowledge of natural gas microgrids and how that has been applied to deliver both customer resiliency and financial value," Froutan says in a news release. "Taking the next step and bringing technology, EPC, and O&M together under one umbrella will further improve our innovation feedback loop, which benefits our customers and the communities that rely on our services."

In his previous role with the company, Froutan was responsible for GraniteEcoSystem, Enchanted Rock's microgrid management software, and the launch of the company's advanced natural gas generator initiative. Froutan will lead the product engineering, EPC, and operations and maintenance teams.

"Paul has helped take the technology and intelligence powering our solutions to the next level, and we are pleased that he has accepted this expanded role," Thomas McAndrew, CEO of Enchanted Rock, says in a news release. "His understanding of emerging technologies and operational excellence, paired with his extensive experience leading high-performing teams, make him an excellent choice to continue our commitment to deliver customer-focused solutions. We are also extremely grateful for Thais' dedication to the Enchanted Rock team and our customers."

Enchanted Rock's electrical microgrids use natural gas and renewable natural gas to help produce lower carbon emissions and air pollutants than diesel generators,and are capable of achieving resiliency with net-zero emissions. The company recently received a $2.1 million grant from the California Energy Commission for development of technology aimed at reducing greenhouse gasses and other natural gas emissions. Enchanted Rock will share the grant with the University of California Riverside, or UCR.
The company, based in Tomball, has developed a mobile, scalable energy source that can be used anywhere, anytime. Image via kaizencleanenergy.com

Houston mobile hydrogen generator company gets PE backing to expand its business

fueling the future

An innovative Houston-area company is on a mission to make using hydrogen energy easier and cheaper.

A recently announced partnership with investment firm, Balcor Companies, will help make this a reality as Kaizen Clean Energy looks to make hydrogen energy more accessible, reliable and affordable. Announced July 6, Balcor now has an ownership stake in Kaizen. The terms of the deal were not disclosed.

The company, based in Tomball, has developed a “micro grid” hydrogen power station — a mobile, scalable energy source that can be used anywhere, anytime.

Balcor Companies Founder and Director Chris Balat says his company is looking at their stake in KCE as an investment in shaping a more sustainable world.

“We are thrilled to make our first foray into the energy sector with Kaizen Energy as our trusted partner,” he says in a statement. "Our association with Kaizen is a testament to our commitment towards a sustainable future, driving positive change in the world while delivering value to our stakeholders.”

Kaizen's mission is to succeed where electric grids fail. One fallback source to help strained electric grids has typically been diesel generators. However, diesel generators increase local emissions which produce a significant amount of air pollution and health concerns. Kaizen’s hydrogen generators can be used to power buildings, homes, hospitals, data centers, events, and farm equipment. They are portable, which means it does not require any excessive infrastructure.

“Our system allows customers the ability to have renewable energy anywhere in the world in a very short time frame,” said Eric Smith, co-founder of KCE. “For EV charging, for power generation, to replace a diesel generator.”

Smith tells EnergyCapitalhtx the concept is very attractive to corporations who lease buildings as building out a permanent infrastructure could be costly and time consuming.

Robert Meaney, a Texas Tech engineering graduate, founded Kaizen Clean Energy in 2020, along with Eric Smith and Craig Klaasmeyer. Meaney designed the technology using a mixture of methanol and water to create hydrogen. A 330-gallon tank of the mixture produces about 150 kilograms of hydrogen — or 1.6 megawatt-hours of energy. The mixture lowers the risks of many of the drawbacks of hydrogen usage. For example, it can be stored for longer periods and transported long distances safely.

The microgrid fits into a small container and can be dropped on site at remote locations or in heavily congested grid areas. It also eliminates the cost of hydrogen transportation by generating hydrogen on-site with commonly available methanol, which can be both used for hydrogen fuel and converted to electricity for electric vehicle charging. This microgrid technology can both connect to the grid to supplement available power, or can be used during a power outage.

To put this energy source to use, KCE has partnered with Extreme E, an international off-road racing series that is part of Formula 1 and uses electric SUV’s to race in remote parts of the world. Kaizen’s units are also being used at a fleet-charging location in Los Angeles.

Ad Placement 300x100
Ad Placement 300x600

CultureMap Emails are Awesome

Property Showcase

Texas awards $73M for Houston-area grid resilience project

grid funding

Texas Gov. Gregg Abbott announced millions in funding for energy resilience projects around this state this week, with one major project set to impact the greater Houston area.

As part of the Texas Energy Fund's Outside of ERCOT Grant Program, the state announced a roughly $73 million agreement with the Sam Houston Electric Cooperative to replace and upgrade more than 9,000 electric poles and improve other equipment in Montgomery, Liberty and Hardin counties. The agreement is the first for the fund's Outside of ERCOT Grant Program, which supports state projects outside of the state's largest grid.

The multibillion-dollar Texas Energy Fund aims to "finance the construction, maintenance, and modernization of electric facilities across Texas." It was approved by voters in 2023. Other programs within the fund include the:

  • In-ERCOT Generation Loan Program
  • Completion Bonus Grant Program
  • Texas Backup Power Package Program

“The Texas Energy Fund delivers real results for Texans and strengthens the electric systems that families, businesses, and communities depend on,” Abbott said in a news release. “This grant to Sam Houston Electric Cooperative will replace thousands of vulnerable utility poles to better withstand severe weather and ensure a more reliable and resilient grid in East Texas.”

The Houston-area project, nicknamed Steel Anchor, is expected to be completed by June 2031. According to the release from the governor's office, the Sam Houston Electric Cooperative’s territory is one of the most hurricane-prone service areas in the state. The cooperative serves more than 38,000 Texas consumers

“Over the past decade, Sam Houston EC has strategically replaced poles to improve the strength of its electricity distribution system. This grant will boost the Cooperative’s ongoing grid-hardening and resiliency program,” Doug Turk, CEO of the Sam Houston Electric Cooperative, added in the release.

Following the announcement of the Sam Houston funding, Abbott's office also awarded another $200 million from the Outside of ERCOT Grant Program to upgrade approximately 700 miles of power equipment in Northeast Texas. The equipment is operated by Southwestern Electric Power Company, which serves more than 192,000 Texas consumers. The project will include improvements to 200 circuits, replacing aging copper wire with aluminum alloy conductors and replacing existing utility poles.

Additionally, the state announced its seventh Texas Energy Fund loan agreement for a 570 megawatt natural gas power plant in Sherman, Texas. The 20-year loan of up to $411 million is between the Public Utility Commission of Texas and Rayburn Electric Cooperative and is part of the fund's In-ERCOT Generation Loan Program. Rayburn will build the facility near its existing Rayburn Energy Station 1 in the Texoma region. It will connect to the ERCOT North Load Zone.

“When Texas voters overwhelmingly approved the Texas Energy Fund, they gave us a mandate to secure new, reliable power generation for Texas,” PUCT Chairman Thomas Gleeson added in a release. “The TxEF is delivering on that promise, and Rayburn Electric Cooperative’s new 570 MW power plant is proof. We are ensuring Texas families and businesses have power they can depend on for years to come.”

Solar manufacturer announces massive new facility in Houston area

coming soon

SEG Solar has announced plans to open a new 1.15 million-square-foot solar module facility in Tomball—its third in the Houston area.

The news comes just weeks after the Houston-based solar manufacturer announced its second facility, which will be located in Cypress. It’s expected to open in August.

The latest 4.6-gigawatt facility in Tomball will include an assembly factory and a warehouse. Construction is slated to wrap in March 2027, with commercial panel production planned to begin in May 2027. Once completed, the facility will bring SEG’s annual U.S. module manufacturing capacity to 10.6 gigawatts, according to a news release from the company, one of the largest totals in the country.

The facility will produce heterojunction technology (HJT) modules, which the company says will add to the number of n-type solar panels made in the U.S. HJT modules are known to be more durable and are well suited for hotter climates.

“Designed to support next-generation HJT technology and FEOC-compliant production, the facility ensures reliable, high-efficiency solar solutions,” Raymond Bailey, sales manager at SEG Solar, said in a LinkedIn post. “ Alongside upstream integration in Indonesia and potential U.S. cell manufacturing, we are strengthening supply chain resilience amid evolving trade policies.”

SEG opened its $60 million, 250,000-square-foot facility in Houston in 2024 to house its production workshops, raw material warehouses, administrative offices, finished goods warehouses, and supporting infrastructure. The continued expansion is part of SEG’s long-term goal of becoming one of the largest 100 percent U.S.-owned module manufacturers.

Houston chemical co. completes successful field trial of cleaner natural gas processing tech

successful trial

Houston-based Merichem Technologies has announced successful results from the field trial of its new hydrogen sulfide (H2S) removal technology in the Permian Basin.

The technology, known as ECOTREAT, removed more than 99 percent of hydrogen sulfide gas from natural gas streams, or “sour gas,” without producing solid waste during the month-long trial. It also showed sustained performance even when operating above the unit’s design capacity, according to a news release.

“The industry is continually seeking to reduce both the price and complexity of removing hydrogen sulfide from gas production, especially since oil production has shifted to increasingly sour sources, higher gas ratios, and higher water ratios,” Jeff Gomach, SVP, Merichem Technologies, said in a news release. “ECOTREAT met all its field trial objectives and provides a highly effective method for removing hydrogen sulfide to prevent equipment corrosion, ensure worker safety, meet environmental regulations, and maintain product quality for transport.

H2S found in natural gas can turn the gas toxic or hazardous and lead to corrosion in pipelines and processing equipment. However, standard H2S removal technologies create high levels of solid waste. ECOTREAT resolves many of those issues by using an aqueous-phase proprietary catalytic process that converts H2S into dissolved thiosulfate.

Next, Merichem says it plans to move the technology out of the pilot stage to full-scale commercialization.

Merichem, an 80-plus-year-old company, initially launched as a soap and industrial cleaning company. It eventually transitioned to focus on energy technology.

In 2024, Black Bay Energy acquired a portion of Merichem Process Technologies and Merichem Catalyst Products, which would become Merichem Technologies.

View All Listings