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Oxy inks long-term agreements for 2M tons of CO2 capture, transport

carbon contracts

The agreement also includes nearly 100 miles of new CO2 pipeline infrastructure connecting to the Permian Basin's pipeline network. Photo via Getty Images

Houston-based Occidental has made two long-term agreements that will expand its carbon management business in the Delaware Basin and the Permian Basin.

Oxy announced Nov. 9 that it has signed agreements with two unnamed project developers to capture and transport approximately 2 million metric tons of CO2 from their existing and new natural gas processing facilities in the Delaware Basin in West Texas annually. The CO2 will be transported for use in Oxy's enhanced oil recovery (EOR) operations in the Permian Basin.

“Securing reliable, long-term sources of CO2 supports Occidental’s advanced recovery strategy to extend the productive life of existing fields and enhance recovery across our conventional and unconventional resource base,” Vishal Gupta, president and general manager of EOR Ventures at Occidental, said in a news release. “The projects, once operational, will help diversify our CO2 supply, improve access to cost-effective resources and create infrastructure that can connect additional carbon capture projects over time. Federal 45Q incentives are an important support for these investments.”

According to the release, the projects have the potential to expand to handle up to 4 million metric tons of C02 per year combined. The first shipments to Oxy are expected in 2029. The unnamed developers will fund and build the infrastructure to capture, transport and deliver the CO2 to Oxy, the company shared in the release.

Additionally, the agreement stipulates that the projects will also include the build-out of nearly 100 miles of new CO2 pipeline infrastructure. The new pipeline is planned to connect with the existing CO2 pipeline network in the Permian Basin. Oxy adds that the pipelines are being designed to handle additional future capacity to "support future conventional and unconventional recovery opportunities" of CO2.

Oxy uses the EOR process to inject stored CO2 back into a producing oil fields to boost the site's performance. The recycled CO2 displaces trapped oil and gas and is then secured in the reservoir. Oxy says that EOR combined with Direct Air Capture (DAC) technology "remove[s] an amount of CO2 equivalent to that emitted during the production and consumption of [its] products."

Oxy subsidiary 1PointFive is developing a $1.3 billion DAC project in the Midland-Odessa area that is slated to be the largest facility of its kind in the world. Known as STRATOS, it's designed to capture up to 500,000 metric tons of CO2 per year. After a component delay, 1PointFive shared in May that it would ramp up operations at the project throughout 2026.

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Houston is tied with Chicago for the second-most Fortune 500 headquarters. Photo via Getty Images

Houston lands 27 Fortune 500 headquarters, led by energy heavyweights

HQ leader

Editor's note: This article has been updated to correct the number of companies based in the Dallas-Fort Worth area.

Houston is a giant among U.S. hubs for corporate headquarters.

The 2026 Fortune 500 lists 27 companies based in the Houston area, with many energy companies claiming top spots. Houston ties with Chicago for the second-most Fortune 500 headquarters, preceded only by New York City (53). Dallas-Fort Worth is home to 24 Fortune 500 headquarters.

Texas leads the nation for Fortune 500 headquarters (57), with California in the No. 2 spot and New York at No. 3.

“Texas is the undisputed headquarters of headquarters,” Gov. Greg Abbott said in a news release. “The world’s leading businesses invest with confidence in Texas because of our welcoming business climate, predictable regulatory environment, and skilled and growing workforce. People and businesses are choosing Texas because Texas works.”

The 2026 Fortune 500 ranks the largest U.S. corporations based on revenue in fiscal year 2025.

Here’s a rundown of the 27 Fortune 500 companies based in the Houston area.

  • No. 9 ExxonMobil
  • No. 21 Chevron
  • No. 29 Phillips 66
  • No.55 Sysco
  • No. 75 ConocoPhillips
  • No. 89 Enterprise Products Partners
  • No. 103 Plains GP Holdings
  • No. 133 Hewlett Packard Enterprise
  • No. 149 NRG Energy
  • No. 157 Quanta Services
  • No. 164 Baker Hughes
  • No. 173 Occidental Petroleum
  • No. 179 Waste Management
  • No. 201 EOG Resources
  • No. 204 Group 1 Automotive
  • No. 207 Halliburton
  • No. 223 Cheniere Energy
  • No. 236 Corebridge Financial
  • No. 262 Targa Resources
  • No. 266 Kinder Morgan
  • No. 388 Westlake
  • No. 435 CenterPoint Energy
  • No. 438 APA
  • No. 440 Comfort Systems USA
  • No. 455 NOV
  • No. 488 KBR
  • No. 496 Coterra Energy. Oklahoma City, Oklahoma-based Devon Energy and Houston-based Coterra Energy merged in early May, with the combined company retaining the Devon Energy name and the Houston headquarters.

The Greater Houston Partnership notes the Houston area soon will welcome its 28th Fortune 500 company. Expand Energy (formerly Chesapeake Energy), appearing at No. 362 on the 2026 list, says it’s moving its headquarters from Oklahoma City to Spring this year.

As the natural gas producer prepares to relocate to Texas, it’s hunting for a new leader. Nick Dell’Osso stepped down as president and CEO earlier this year. Board Chairman Michael Wichterich is interim president and CEO.

Dell’Osso became president and CEO of Oklahoma City-based Gulfport Energy effective May 28.

Longtime Oxy CEO Vicki Hollub will retire June 1. Richard Jackson, the company's current COO, will replace her in the role. Photos via oxy.com

Oxy officially announces CEO transition, names successor

new leader

Houston-based Occidental (Oxy) has officially announced its longtime CEO's retirement and her successor.

Oxy shared last week that Vicki Hollub will retire June 1. Reuters first reported Hollub's plan to retire in March, but a firm date had not been set. Hollub will remain on Oxy's board of directors.

Richard Jackson, who currently serves as Oxy's COO, will replace Hollub in the CEO role.

“It has been a privilege to lead Occidental and work alongside such a talented team for more than 40 years," Hollub shared in a news release. "Following the recently completed decade-long transformation of the company, we now have the best portfolio and the best technical expertise in Occidental’s history. With this strong foundation in place, a clear path forward and a leader like Richard, who has the experience and vision to elevate Occidental, now is the right time for this transition. “I look forward to supporting Richard and the Board through my continued role as a director.”

Hollub has held the top leadership position at Oxy since 2016 and has been with the energy giant for more than 40 years. Before being named CEO, she served as COO and senior executive vice president at the company. She led strategic acquisitions of Anadarko Petroleum in 2019 and CrownRock in 2024, and was the first woman selected to lead a major U.S. oil and gas company.

Hollub also played a key role in leading Oxy's future as a "carbon management company."

Jackson has been with Oxy since 2003. He has held numerous leadership positions, including president of U.S. onshore oil and gas, president of low carbon integrated technologies, general manager of the Permian Delaware Basin and enhanced oil recovery oil and gas, vice president of investor relations, and vice president of drilling Americas.

He was instrumental in launching Oxy Low Carbon Ventures, which focuses DAC, carbon sequestration and low-carbon fuels through businesses like 1PointFive, TerraLithium and others, according to the company. He also serves on the Oil and Gas Climate Initiative’s Climate Investment Board and the American Petroleum Institute’s Upstream Committee. He holds a bachelor's degree in petroleum engineering from Texas A&M University.

Jackson was named COO of Oxy in October 2025. In his new role as CEO, he will also join the board of directors, effective June 1.

“I am grateful to be appointed President and CEO of Occidental and excited about the opportunity to execute from the strong position and capabilities that we built under Vicki’s leadership,” Jackson added in the release. “It means a lot to me personally to be a part of our Occidental team. I am committed to delivering value from our significant and high-quality resource base. We have a tremendous opportunity to focus on organic improvement and execution to deliver meaningful value for our employees, shareholders and partners.”

Reuters reports that Oxy CEO Vicki Hollub will retire this year. Photo courtesy Oxy

Oxy CEO Vicki Hollub to retire, Reuters reports

retirement plans

Vicki Hollub, CEO of Houston-based Occidental (Oxy), is set to retire this year, Reuters first reported Thursday.

Hollub has held the top leadership position at Oxy since 2016 and has been with the oil and gas giant for more than 40 years. Before being named CEO, she served as chief operating officer and senior executive vice president at the company. She led strategic acquisitions of Anadarko Petroleum in 2019 and CrownRock in 2024, and was the first woman selected to lead a major U.S. oil and gas company.

Reuters reports that a firm date for her retirement has not been set. Richard Jackson, who currently serves as Oxy's COO, is expected to replace Hollub in the CEO role.

Oxy is leading a number of energy transition projects.

It's subsidiary 1PointFive is developing a $1.3 billion direct air capture (DAC) project in the Midland-Odessa area that is slated to be the largest facility of its kind in the world. Known as STRATOS, it's designed to capture up to 500,000 metric tons of CO2 per year.

The company shared recently that Phase 1 of the project is expected to go online in Q2, with Phase 2 ramping up through the remainder of 2026.

“We are immensely proud of the achievements to date and the exceptional record of safety performance as we advance towards commercial startup,” Hollub said of Stratos last year.

“We believe that carbon capture and DAC, in particular, will be instrumental in shaping the future energy landscape,” she added.

Oxy was one of the first to set ambitious net-zero goals. In a 2020 interview during CERAWeek, Hollub outlined Oxy's future as a “carbon management company.”

“Ultimately, I don’t know how many years from now, Occidental becomes a carbon management company, and our oil and gas would be a support business unit for the management of that carbon. We would be not only using [CO2] in oil reservoirs [but] capturing it for sequestration as well,” Hollub said.

Oxy opened its Oxy Innovation Center in the Ion last year, focused on advancing low-carbon technology. It also operates Oxy Low Carbon Ventures, which focuses DAC, carbon sequestration and low-carbon fuels through businesses like 1PointFive, TerraLithium and others.

Heading to CERAWeek? Here's where to find Houston energy leaders on the Agora track. Photo courtesy of CERAWeek

30+ CERAWeek events featuring Houston energy leaders

where to be

CERAWeek returns to Houston March 23-27, bringing more than 1,000 speakers, executives and energy innovators to Houston.

Under this year's theme, "Convergence and Competition: Energy, Technology and Geopolitics,” panels will tackle topics ranging from policy and global relations to the growing role of AI in the energy sector. Most of the innovation-themed events are organized under the Agora track and will feature many Houston-area startups, universities, companies and scientists. Panels will feature leaders from Fortune 500 companies and top U.S. government officials, scientists and founders pushing towards a more carbon-neutral future.

Here are some of the many events featuring Houston leaders on the Agora track you can't miss if you want to learn more about Houston energy innovation.

Monday, March 23rd


Scaling Innovation: Building the ecosystem for the next energy breakthroughs

Featuring: Georgina Campbell Flatter, CEO of Greentown Labs

This event is at 10:30 a.m. Find more info here

Vaulted Deep | The Subsurface as Waste and Carbon Infrastructure

Featuring: Julia Reichelstein, co-founder and CEO of Vaulted Deep

This event is at 11:30 a.m. Find more info here

Collaboration Spotlight | Collision Course: How Houston's Ion District turns proximity into innovation

Featuring: Adrian Tromel, chief innovation officer at Rice University; Rawand Rasheed, co-founder and CEO of Helix Earth Technologies; Marc Davidson, senior technical advisor at Veriten

This event is at 1:30 p.m. Find more info here.

Methane Reduction in Practice: Field learnings

Featuring: Matt Kolesar, chief environmental scientist at ExxonMobil

This event is at 2 p.m. Find more info here.

Time-to-AI: Shrinking the data-center clock

Featuring: Robert Ott, vice president of wholesale origination at NRG Energy; Andrew Johnston, business line director, data centers at SLB

This event is at 2:30 p.m. Find more info here.

Scaling CCUS: Which industries, regions and funding sources?

Featuring: Gino Thielens, vice president of renewables and energy efficiency at SLB; Ian McIntyre, senior vice president, 1PointFive

This event is at 3 p.m. Find more info here.

Democratization of AI: Redefining where work gets done

Featuring: Rob Crane, technology scouting and venturing manager at SLB

This event is at 3:30 p.m. Find more info here.

Tuesday, March 24th


Syzygy Plasmonics | Affordable, Globally Compliant SAF Using Abundant Biogas Feedstock

Featuring: Trevor Best, CEO and founder of Syzygy Plasmonics

This event is at noon. Find more info here.

Accelerating Idea to Impact: Carving new ways to innovation

Featuring: David Sholl, executive vice president for research at Rice University

This event is at 1 p.m. Find more info here.

NRG | From the Front Lines: A deep dive into grid reliability

Featuring: Matthew Pistner, senior vice president of generation at NRG Energy; Robert Patrick, vice president of development engineering and construction at NRG Energy

This event is at 1:30 p.m. Find more info here.

Energy Efficiency: The industrial advantage

Featuring: Jason Urso, CTO of Honeywell Industrial Automation

This event is at 1:30 p.m. Find more info here.

The CEO Blueprint | Strategy

Featuring: Lorenzo Simonelli, CEO and chairman of Baker Hughes

This event is at 2:55 p.m. Find more info here.

Occidental | Beyond the Technology: Turning direct air capture into CDR credits

Featuring: William Barrett, vice president of product development at 1PointFive

This event is at 3:30 p.m. Find more info here.

Wednesday, March 25th


Innovations in Sustainable Steel

Featuring: Laureen Meroueh, founder and CEO of Heartha Metals Inc.

This event is at 9 a.m. Find more info here.

Rice University | The Science of Geologic Carbon Storage

Featuring: Sahar Bakhshian, assistant professor, earth, environmental and planetary sciences at Rice University

This event is at 9:30 a.m. Find more info here.

Sparking Innovation: The impact of interdisciplinary collaboration

Featuring: Marie Contou Carrere, executive director of the Rice Sustainability Institute; Sandy Guitar, executive director of TEX-E

This event is at 10 a.m. Find more info here.

Models of Innovation, Models of Capital

Featuring: Bobby Tudor, chair of Houston Energy Transition Initiative and chairman of the board for Greentown Labs

This event is at 10:30 a.m. Find more info here.

Energy Venture Day and Pitch Competition

This event is at noon. Find more info here. Learn more about the competing teams here.

Baker Hughes | Meeting Industrial and AI-Driven Energy Demand with Flexible, Reliable and Sustainable Power Solutions

Featuring: Daniele Marcucci, industrial power generation product director at Baker Hughes; Florent Rousset, geothermal leader, new energies at Baker Hughes

This event is at noon. Find more info here.

Thursday, March 26th


Mission-driven Minds: How space exploration inspires the next generation of energy innovators

Featuring: Trina Sadberry, head of brand & engagement in the United States at Equinor; Laura Dandridge, corporate affairs advisor at Chevron; Jack Fischer, chief integration officer at Intuitive Machines; Ginger Kerrick Davis, chief strategy officer at Barrios Technology

This event is at 9 a.m. Find more info here.

Rice University | Nature-based Solutions: A focus on biochar and enhanced rock weathering

Featuring: Carrie Masiello, director of the sustainability institute at Rice University; Mark Torres, associate professor, earth, environmental and planetary sciences at Rice University

This event is at 9:30 a.m. Find more info here.

Growing Direct Air Capture

Featuring: Anthony Cottone, resident and general manager at 1PointFive

This event is at 9:30 a.m. Find more info here.

Occidental | Advancement and Growth Opportunities for Enhanced Oil Recovery

Featuring: Vishal Gupta, president and general manager of EOR Ventures at Occidental

This event is at 9:30 a.m. Find more info here.

Geothermal: Charting progress on technological advancements

Featuring: Jonathan Ajo-Franklin, trustee professor, earth, environmental and planetary sciences at Rice University; Florent Rousset, geothermal leader, new energies at Baker Hughes

This event is at 10 a.m. Find more info here.

Newfound Materials | Bridging the Synthesis Gap in AI-Driven Materials Innovation

Featuring: Matt McDermott, founder and CEO of Newfound Materials

This event is at 10 a.m. Find more info here.

Hertha Metals | The Future of Steel Production: Going beyond the blast furnace

Featuring: Laureen Meroueh, founder and CEO of Heartha Metals Inc.

This event is at 11 a.m. Find more info here.

Advanced Materials with Low-Carbon Intensity

Featuring: Matteo Pasquali, director of the Rice Carbon Hub

This event is at 11:30 a.m. Find more info here.

Lessons from the Lab: Common pitfalls of hard tech startups

Featuring: Jeremy Pitts, managing director of Activate Houston

This event is at 11:30 a.m. Find more info here.

TotalEnergies | Accelerating Direct Air Capture

Featuring: Isabelle Betremieux, head of R&T CO2 capture department at TotalEnergies

This event is at 1 p.m. Find more info here.

Spotlight: "NextGen" energy leaders of the future

Featuring: Renu Khator, chancellor and president of the University of Houston

This event is at 3 p.m. Find more info here.

Solidec | On-site, On-demand Production of Essential Chemicals

Featuring: Ryan DuChanois, co-founder and CEO of Solidec

This event is at 3:30 p.m. Find more info here.

U.S. Secretary of the Interior Doug Burgum and U.S. Secretary of Energy Chris Wright will return to CERAWeek this month, along with dozens of energy executives and innovators. Photos courtesy CERAWeek.

CERAWeek 2026 to bring energy leaders to Houston to discuss tech and geopolitics

where to be

CERAWeek returns this month, March 23-27, and will once again bring leading energy executives and government officials to Houston.

The 44th annual event will again host U.S. Secretary of Energy Chris Wright and U.S. Secretary of the Interior Doug Burgum.

Wright will participate in a plenary session focused on energy policy with Daniel Yergin, conference chair and vice chairman of S&P Global, on March 23. The following day, he will be featured in the Celebrating 10 Years of U.S. LNG reception with Jack Fusso, president and CEO, of Cheniere Energy. Both events are part of the Executive Conference track.

Burgum will participate in a leadership dialogue plenary session with Yergin on March 25. It is also part of the Executive Conference track. Burgum is also chairman of the National Energy Dominance Council, established by President Trump in 2025.

Top energy executives, many of whom are based in Houston, will also be featured prominently at the week-long event. Other speakers include:

  • Bill Blevins, director of grid coordination for the Electric Reliability Council of Texas (ERCOT)
  • Trevor Best, CEO of Syzygy Plasmonics
  • Marie Contour Carrere, executive director of the Rice Sustainability Institute
  • Ryan DuChanois, co-founder and CEO of Solidec
  • Reginald DesRoches, president of Rice University
  • Georgina Campbell Flatter, CEO of Greentown Labs
  • Jim Fitterling, chair and CEO of Dow Inc.
  • Vicki Hollub, CEO of Occidental Petroleum Corp.
  • Renu Katon, chancellor and president of the University of Houston
  • Ryan Lance, chairman and CEO of ConocoPhillips
  • Olivier Le Peuch, CEO of SLB
  • Patrick Pouyanné, chairman and CEO of TotalEnergies SE
  • Adrian Tromel, chief innovation officer and interim VP for Innovation at Rice University
  • Bobby Tudor, founder and CEO of Artemis Energy Partners and chairman of HETI
  • Wael Sawan, CEO of Shell plc
  • Lorenzo Simonelli, chairman and CEO of Baker Hughes Co.
  • Mike Wirth, chairman and CEO of Chevron Corp.
  • Jeremy Pitts, managing director of Activate Houston
  • And many others

This year, CERAWeek will center around the theme of Convergence and Competition: Energy, Technology and Geopolitics.

"Change is inescapable," Yergin said in a news release. "The global energy landscape—and to a large extent the entire global economy—is being fundamentally reshaped by the dual forces of convergence and competition. The race for AI is fusing the energy and technology industries like never before, bringing into sharp relief the need to align energy expansion with sustainable economic growth."

"Yet, the potential for collaboration and innovation is increasingly matched by the risk for collision and conflict in a world marked by geopolitical rivalry, tariffs and fragmented supply chains," he continued. "Reconciling an increasingly complex world with the growing demand for energy that is stable, secure and affordable is a complex reality that CERAWeek 2026 will tackle when global energy leaders meet in Houston."

Key topics of discussion will include:

  • Politics, Economics, Trade and Supply Chains
  • Policy, Regulations and Stakeholders
  • Oil Value Chain
  • Power, Renewables, Generation and Grid
  • AI and Digital
  • Minerals and Mining
  • Electrification Technologies
  • Investment and Financing
  • Chemicals and Materials
  • Business Strategies
  • The Innovation Ecosystem
  • Managing Emissions
  • Low-Carbon Fuels and Mobility
  • Climate and Sustainability
  • Workforce Strategy

The CERAWeek Innovation Agora track, which is the program's deeper dive into technology and innovation, will feature thought leadership on "AI, decarbonization, low carbon fuels, cybersecurity, hydrogen, nuclear, mining and minerals, mobility, automation and more," according to the release.

Agora Hubs will return this year and be divided into three zones: new energies, carbon and climate, and AI. The hubs will feature amphitheater-style sessions and panels. Agora Pods will allow energy startups to showcase their ideas in 20- to 30-minute presentations.

Additionally, CERAWeek will introduce a new program this year on Friday, March 27. Known as Look Forward, it will focus on economics, politics and technology.

See the full agenda for the week here. Find more information and register for the event here.

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Houston’s Fervo Energy amasses $12B backlog of orders

q3 results

Houston-based geothermal power company Fervo Energy saw a 65 percent spike in purchase orders during the third quarter.

During Fervo’s third-quarter earnings call, Tim Latimer, co-founder, chair, president and CEO, said the company had a $11.9 billion backlog of orders, up from $7.2 billion in the previous quarter.

Those numbers didn’t translate to robust financial results in the third quarter, though. It closed the quarter with an operating loss of $43 million on revenue of just $116,000.

Beyond the billions of dollars in signed purchase agreements, Fervo is in talks with prospective customers in the utility, industrial data-center sectors, Latimer said. About half the potential customers are in the data-center sector, 35 percent in the utility sector and 15 percent in the industrial sector.

Latimer said the broad-based demand reflected by the backlog and the discussions with potential customers reinforces the critical need for reliable, readily available power.

“Our approach to power delivery will continue to blend front-of-the-meter and behind-the-meter development,” he said. “Grid-connected assets remain the foundation, though behind-the-meter gives customers a faster path to power when transmission time lines lag their need.”

Front-of-the-meter refers to power plants, utility-scale solar and wind farms, large grid batteries, and transmission and distribution infrastructure. Behind-the-meter assets sit on the customer side of the meter, such as backup generators and EV chargers at homes, businesses, factories and other everyday places.

The order backlog isn’t Fervo’s only recent milestone. In late September, the company’s Cape Station geothermal plant in Utah started delivering its first utility-scale geothermal power to the grid. The plant is producing about 33 megawatts of power.

Earlier in September, Fervo signed a 15-year deal to supply about 396 megawatts of power for Google data centers. The power will be delivered in four 99-megawatt batches. The company filed its $1.89 billion IPO this spring.

3 Houston incubators supporting hard tech, energy transition, and beyond

Meet The Finalists

It takes a village to launch a business. That's where Houston's network of incubators and accelerators can step in, providing the resources, mentorship and community needed to push a fledgling company forward.

As part of InnovationMap's 2026 Houston Innovation Awards, the Incubator/Accelerator of the Year category honors a local organization that is championing and fueling the growth of Houston startups.

Three incubators and accelerators have been named finalists for the 2026 award. They support startups ranging from hard tech companies to food and youth concepts.

Read more about these organizations below. The 2026 winners will be announced on InnovationMap.com in mid-November.

Activate

Hard tech incubator Activate supports scientists in "the outset of their entrepreneurial journey." The Houston hub was introduced in 2024, and joins others in Boston, New York, and Berkley, California—where Activate is headquartered. It named its third Houston cohort this summer.

The two-year program graduated its first class of Houston fellows in 2026 and saw its first alumni IPO from Houston-based Fervo Energy, which previously participated in a Berkley cohort. Nationally, it has supported 346 fellows and 276 companies since 2015. Those companies have raised more than $6 billion in follow-on funding, according to Activate. In Houston, it has supported Houston startups like energy transition leaders Solidec and FlowCellutions. Activate Houston is led by managing director Jeremy Pitts, who co-founded Greentown Labs in Boston. It is based out of the Ion.

Impact Hub Houston

Impact Hub Houston supports early-stage ventures at various stages of development through innovative programs that address pressing societal issues. The nonprofit organization supports social impact startups through mentorship, connections and training opportunities.

There are more than 110 Impact Hubs globally with members spanning 72 countries. Launched in 2018, Impact Hub Houston says its membership tripled by the beginning of 2026. This year brought major milestones for the community, including the launch of its Ideas to Impact Accelerator, which supported 11 founders across the health, education, food systems, civic technology and workforce development sectors. It also received funding from more than 20 international Impact Hubs to develop SYNC, a collaboration platform that 25 Impact Hubs across five continents have committed to pilot. The organization has worked with local startups including Myoviva Health, The Change Lab and INNERVERSE Inc.

MarMo Innovation

Galveston-based business incubator MarMo Innovation is focused on removing barriers to entrepreneurship. It aims to provide affordable space, education, mentorship, market access, connections and real-world opportunities that help entrepreneurs move from idea to launch to sustainable growth. The "industry-agnostic" incubator was founded in 2022 and is led by Executive Director Erica Delgadillo.

This year, the organization moved from primarily serving as a coworking and community space into a more comprehensive entrepreneurial incubator by expanding its MarMo Market, MarMo Market Jr. and Lunch LineUp programs. A major focus for MarMo is food entrepreneurship. It is developing an Incubator Kitchen, which MarMo says will support programs like its Cottage to Commercial Bootcamp and Food Biz 101. The organization also expanded its board this year and says it is diversifying its revenue through memberships, events, markets, equipment and space rentals, sponsorships, grants and new entrepreneurial programming.

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This article first appeared on InnovationMap.com.

Sage Geosystems taps Halliburton to advance Nevada geothermal project

power partnership

Houston-based Sage Geosystems has selected oil and gas powerhouse Halliburton to provide cementing and stimulation services at its enhanced geothermal project in Nevada known as Project Vector.

“Our technology and experience will support Sage as it advances its geopressured geothermal technology,” Shawn Skobel, vice president at Halliburton, said in a news release.

Halliburton will provide Sage with technical modeling, engineering design, and field execution support as part of its specialized cementing and stimulation services at Project Vector at Ormat Technologies' Blue Mountain geothermal power plant. Sage announced the location of the geothermal project in September.

At the time, Sage said it expected to begin drilling the first well at Project Vector this year, with the first electricity to be generated in 2027 and full-scale production to start in 2028.

The project will use Sage’s enhanced geothermal systems (EGS) method in a two-well system to convert geothermal heat into electricity. The project aims to help meet industrial and residential demand, especially as data centers strain energy grids.

Founded in 2020, Sage has raised $159 million across three funding rounds. Its technology aims to reach Earth’s natural heat source deep underground for more consistent power generation and utilizes engineered subsurface reservoirs to minimize water and energy losses and increase net power output. Through the process, Sage says it can enable reliable, 24/7 power generation.

“One of the keys to scaling next-generation geothermal is combining innovative subsurface technology with the proven capabilities and execution of the oil and gas industry,” Jason Peart, Chief Operating Officer of Sage Geosystems, added in the news release. “Halliburton brings decades of experience in well integrity and reservoir stimulation, two critical components of our development approach. By selecting an established industry leader, we are strengthening our ability to execute Project Vector and demonstrate that Sage’s technology can be replicated and deployed commercially across a broad range of geologies.”

Sage is building off prior success of its South Texas SMECI facility, which began operations in August. Project Vector supports Sage’s growing commercial pipeline, which includes a 150-megawatt geothermal power agreement with Meta.

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