Houston innovator drives EV adoption with unique approach to car leasing, smart tech

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Chris George, United States co-lead at Octopus Electric Vehicles, joins the Houston Innovators Podcast. Photo courtesy of Octopus

Switching from a gas-powered car to an electric one can be a big change, but a Houston-based company has made things a lot easier for its customers.

Octopus Electric Vehicles US, a spinout of United Kingdom-based retail energy provider Octopus Energy, matches its users with their perfect EV lease and sets them up with smart electricity technology for at-home charging.

"We do a couple of really unique things that are not only first of its kind but really innovative," Octopus EV's US Co-Lead Chris George says on the Houston Innovators Podcast, pointing out specifically Octopus Energy's Intelligent Octopus, a smart feature for customers that automates energy usage to lower cost.

"We launched an Intelligent Octopus for EVs service. Instead of operating in a very narrow window — overnight — it operates dynamically," he continues.

Pulling from the success of its British EV leasing business, Octopus EV helps Texans find their ideal car to lease from the available pre-owned EVs in the state. The process is hands on, George says, and he and his team are constantly working directly with customers to find them their right make, model, mileage, and more, then setting them up for free home charging with Octopus. All this for as low as $200 a month — perfect for both EV veterans and newbies alike.

"We serve a lot of people. What we're aiming to do is to drive adoption, and we're finding that for most people this is their first EV," George says, explaining that accessibility has been an issue for aspiring EV owners.

The company is rolling out a new process this week. In addition to providing its service in a match-making capacity, now Octopus EV will be showcasing EVs so that customers can browse, test drive, and really get to see what all they like before deciding on a car. George says this new process will be a bit of an experiment.

"We're gong to be showcasing inventory around Houston so customers can see the physical car, the lease price, test drive, and get the car you want," George says. "It's going to look and feel a little different from our current product, but it's going to serve customers just the same."

On the show, George, who previously led EV adoption-focused nonprofit Evolve Houston, shares a bit about the EV industry and what he's closely watching, including growth of charging stations, multifamily charging opportunities, battery technology for EVs and resilience, and perfecting messaging for new and returning customers.

"I'm always trying to think about where are the other things where we can unlock innovation, unlock ideas that help our industry and help Houstonians," George says.

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This article originally ran on InnovationMap.

Very often, EVs drive like new even if they’ve clocked up the miles, writes this Houston expert. Photo via Unsplash

Houston expert: How to make the EV switch while factoring in impact, cost

Guest Column

Americans are in the midst of getting to know electric cars up close and personal. The finer points of charging and battery technology are now becoming mainstream news.

However, there’s a secret about electric vehicles (EVs) that very few people know, because very few people have driven an electric car with 50,000 or 100,000 miles on it. Very often, EVs drive like new even if they’ve clocked up the miles. No rattles and no shakes, and importantly there is no loss of efficiency, unlike gas cars which tend to lose fuel efficiency as they age. Most strikingly, battery degradation and loss of range is often minimal — even after the odometer hits 6 digits.

What does this mean? At a time when car payments, repair costs and gas prices are all weighing on consumer wallets, we are about to enter an era when it will get easier than ever before for Americans to find a great driving, longer lasting car that saves on fuel costs and needs less maintenance.

This represents an amazing source of value for American drivers to be tapped into - plus even more positive changes for the auto sector, and the potential for new business models.

Narratives about EVs have focused on fears about battery degradation and today’s models becoming dated as technology rapidly advances. The fact that we are all habituated to replacing smartphone batteries that fade within 2 to 3 years doesn’t help.

Auto manufacturers have put 100,000 mile warranties on batteries, but this may have created the perception that this is a ceiling, rather than a floor, for what can be expected from an EV battery.

EV batteries are performing much better than your last smartphone battery. We know this with growing certainty because it’s backed up by evidence. Data reveals that older Teslas average only 12 percent loss of original range at 200,000 miles — double the warranty period.

Furthermore, battery advances are happening at an encouraging pace. You can expect that newer batteries will start with higher ranges and degrade even more slowly. And even after they do, the value shorter range will increase as charging infrastructure matures.

In other words, a 2024 Volkswagen ID.4 with 291 miles of range may be down to 260 miles by the time it has put on 100,000 miles. But in the 5 to 7 years that typically takes, the buildout of charging stations means that range will have much more utility than today.

So in sum, electric vehicles can be expected to last longer with lower maintenance. Over-the-air software upgrades, and perhaps even computing hardware upgrades, will keep them feeling modern. Charging infrastructure will improve much faster than range will degrade. And crucially for the value of these cars, the drive quality will remain great much further into product lifetime.

The trend for driving older cars is already here – the average age of a car on US roads is 12 years old and rising. But now this will shift towards better quality, plus fuel savings, for more people.

New business models and services will help customers take advantage — especially those customers for whom lower cost EVs will represent a step up and savings on the cost of living.

At Houston-based Octopus Electric Vehicles, we are doing this today with something virtually unheard of: leasing pre-owned cars. With electric cars that are 1 to 4 years old, with clean histories and in excellent cosmetic and mechanical condition but depreciated relative to new EV prices, we are frequently able to offer discounts of 30 percent or more, even against heavily incentivized lease offers from automakers. And, because EV maintenance needs are lower, we can throw in free scheduled maintenance with our monthly payment, delivered by a mobile mechanic service.

The secret value of higher-mileage EVs won’t stay secret for long. There’s no replacing first hand experience, and you can probably get that the next time you order an Uber or Lyft by choosing their EV ride options. Before your ride is up, try to guess what’s on the odometer. You may be surprised to hear from your driver that the car you thought was brand new has 50,000 or 100,000 miles on it.

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Nathan Wyeth is the United States co-lead at Octopus Electric Vehicles.

Octopus Energy announced its new program to help make the move to electric vehicle driving easier and more affordable for Texas residents. Photo via Getty Images

Houston renewable energy co. rolls out new EV program

in the driver seat

A Houston-based renewable energy provider has announced a new program to get more electric vehicle drivers on Texas roads.

Octopus Electric Vehicles, a new initiative from Houston-based Octopus Energy Group, announced its DriveFree leasing program to help make the move to electric vehicle driving easier and more affordable for Texas residents.

“DriveFree gives you the freedom to drive without worrying about the cost of filling the tank or unexpected maintenance expenses,” Octopus EV US Co-Lead Nathan Wyeth says in a news release. “With the ‘electric fuel’ for daily driving included, DriveFree is the complete package to make EVs work for Texas drivers looking to lower their driving costs without locking themselves in.”

DriveFree will include the lease of a top-quality pre-owned car with all maintenance covered. Part of this coverage includes unlimited home charging on Octopus Energy’s home energy plan.

According to Octopus Energy Group, Texas drivers will save an average of over $1,000 per year by switching from a gas car to an EV with potential to save even more depending on the previous gas vehicle make and model. Houstonians will be able to select an EV and DriveFree plan at OctopusEV.us, get approved online, and schedule delivery by an Octopus EV Specialist.

The program will cover all maintenance and tires through a mobile mechanic service to a customer’s home or office. Leasing plans range from one to four years with mileage plans up to 25,000 miles/year, and 4 brands to choose from.

In a report by SmartAsset, Texas was No. 41 of states with the most electric vehicle chargers. Last year, the city of Houston approved $281,000 funding for the expansion of free electric vehicle rideshare services in communities that are considered underserved by utilizing services like RYDE and Evolve Houston in December. DriveFree is now in the mix in helping Texas get more involved in the mix.

“With DriveFree, we wanted to address all the concerns people have about switching to electric vehicles,” Octopus EV US Co-Lead Chris George says in the news release. “For the millions of Houstonians commuting to work, driving electric can be a money saver today. For the first time, the more miles you drive, the more your savings will be!”

Octopus Electric Vehicles is part of the U.K.’s Octopus Energy Group, which first launched Octopus Energy US in Texas in 2020 after its acquisition of Evolve Energy.

Now is the time for your tech company to become a climate company, says this Houston expert. Photo via Getty Images

Houston energy startup CEO calls for tech players to join the climate fight

guest column

In 2022, over 100,000 workers were laid off from major technology companies in an economic slowdown, leaving many people wondering what the future holds. There’s a bright spot, however. These closed doors create an opening for individuals to begin a new career in climate tech, especially as these former tech employees possess skills needed to find and develop novel ways to innovate.

The story of a techie turning to climate isn’t new by any means. For example, Alex Roetter was the former head of engineering at Twitter but later pivoted to climate tech, becoming a managing director and general partner of Moxxie Ventures and the founder of Terraset, a nonprofit focused on funding high-quality carbon removal. Raj Kapoor followed a similar path as he now serves as the co-founder and managing partner of Climactic, a venture capital firm solving climate-related issues using technology, after working as Lyft’s chief strategy officer.

What’s unique now is that the climate tech industry is ready for it – public and private companies have made climate pledges that need industry-disrupting tech solutions, and there is federal, state, and private funding that are backing these solutions up.

When I started out in the energy industry nearly a dozen years ago, there was no such thing as a career in climate tech. Shortly after the 2008 financial crisis, I found a job at a firm backed by smart investors who saw through the noise and realized renewable energy investments are some of the most stable and predictable ways to earn financial returns. Now that Wall Street recognizes investments in climate-related industries as the best way to achieve their long term financial obligations, we’ve seen nearly every company realize they don’t have an economic future unless they also focus on climate results.

We used to say, “every company will become a tech company.” We’re now moving towards a world where “every company is a climate company.” And that is creating opportunities throughout the economy for people to contribute their skills and support their families while building something that actually matters.

Why climate tech is a safe bet

Taking a career twist into climate tech is a safe bet for a few reasons. The first is, unfortunately and obviously, the fact that climate change is getting worse. Between extreme weather events becoming more frequent around the world and the past eight years becoming the hottest on record, there is a huge need for climate mitigation solutions in every sector. What’s more, with the Earth’s population hitting eight billion, we will need to scale technology that addresses challenges like grid instability and food security, as governments try to balance resources. In fact, the Biden-Harris Administration announced $13B of programs to expand the U.S.’s power grid.

To tackle climate change, federal, state, and private sector capital investment in climate tech is at an all time high. As leaders pledge to reach net zero by 2050, investments and commitments to accelerate solutions to decarbonize the planet and make it more sustainable are being prioritized. Last year, there was a whopping $26.8 billion poured into climate tech. In five years, the climate tech market is estimated to near $1.4 trillion and with new energy plans in the Inflation Reduction Act announced earlier this year, investors are heavily influenced in funding the climate tech space.

An easier career shift

A switch to climate tech can be daunting, but it’s not just hard sciences like chemistry and materials engineering. It’s software engineers, social media savvants, and sales specialists. We have employees who have worked at places such as Google and Square come and support us with building our backend tech stack and consumer app. One of our tech leaders is a famous author, having written several books about coding in Django.

We’ve also recently heard about the “great resignation” over the past couple of years, but I think that framing is wrong. I think it's a “great reconsideration”. The reality is, for most of us on a given day, we spend more of our waking hours at work than any other activity. People need purpose — lack of purpose is the biggest reason for burnout. In fact not only have we not been impacted by the “great resignation” that many other firms have been, but we’ve actually received over tens of thousands of applications for our open roles in the past year alone. The career pivot to something meaningful is happening, and it’s happening today.

For example, one of our data engineers graduated from MIT and used to work in Houston as a chemical engineer — after some reskilling, she’s now a data engineer for our Kraken Technologies platform. Another one of our colleagues worked in the traditional marketing space and has transitioned over to climate tech to lead our global marketing. The climate industry needs as many out-of-the-box people as possible to draw new perspectives for reaching climate goals and getting us closer to a clean future.

Not sure where to start? There are several resources dedicated to onboarding people into the climate tech world. Some of my favorite are:

Climatebase: this platform is essentially a LinkedIn for climate tech — people can discover climate jobs and learn how they can transition to the space.
Climate Change Careers: founded in 2020, this site features job postings, educational opportunities, and information about switching to a climate-focused career.
Climate Draft: a member supported coalition comprising climate tech startups and venture capitalists who aim to bring more top talent, investment and commercial opportunities to the table.
ClimatEU: a leading resource for climate jobs and employers in Europe consisting of job postings, and opportunities for companies to find additional investment opportunities.
Climate People: a platform dedicated to mobilizing a workforce transition towards climate careers.

My inbox is also always open to people interested in joining the energy end of the world — whether it’s to talk about different openings at Octopus Energy, discuss how your expertise transfers to climate tech, or just to say hello.

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Michael Lee is the CEO of London-headquartered Octopus Energy. He is based in the company's US headquarters in Houston. This article originally ran on InnovationMap.

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ExxonMobil invests over $200M in Texas advanced recycling sites

doubling down

ExxonMobil announced that it plans to invest more than $200 million to expand its advanced recycling operations at its Baytown and Beaumont sites that are expected to start in 2026. The new operations can help increase advanced recycling rates and divert plastic from landfills, according to ExxonMobil.

“We are solutions providers, and this multi-million-dollar investment will enhance our ability to convert hard-to-recycle plastics into raw materials that produce valuable new products,” says Karen McKee, president of ExxonMobil Product Solutions, in a news release.

The investment plans to add 350 million pounds per year of advanced recycling capacity at Baytown and Beaumont, which will bring ExxonMobil’s total capacity to 500 million pounds annually. The first Baytown facility started in 2022 and represents one of the largest advanced recycling facilities in North America by having processed more than 70 million pounds of plastic waste.

“At our Baytown site, we’ve proven advanced recycling works at scale, which gives us confidence in our ambition to provide the capacity to process more than 1 billion pounds of plastic per year around the world,” McKee said in a news release. “We’re proud of this proprietary technology and the role it can play in helping establish a circular economy for plastics and reducing plastic waste.”

Advanced recycling works by transforming plastic waste into raw materials that can be used to make products from fuels to lubricants to high-performance chemicals and plastics. Advanced recycling allows for a broader range of plastic waste that won't be mechanically recycled and may otherwise be buried or burned.

ExxonMobil will continue development of additional advanced recycling projects at manufacturing sites in North America, Europe and Asia with the goal of reaching 1 billion pounds per year of recycling capacity by 2027.

Houston-based Fervo Energy collects $255M in additional funding

cha-ching

A Houston company that's responding to rising energy demand by harnessing geothermal energy through its technology has again secured millions in funding. The deal brings Fervo's total funding secured this year to around $600 million.

Fervo Energy announced that it has raised $255 million in new funding and capital availability. The $135 million corporate equity round was led by Capricorn’s Technology Impact Fund II with participating investors including Breakthrough Energy Ventures, CalSTRS, Congruent Ventures, CPP Investments, DCVC, Devon Energy, Galvanize Climate Solutions, Liberty Mutual Investments, Mercuria, and Sabanci Climate Ventures.

The funding will go toward supporting Fervo's ongoing and future geothermal projects.

“The demand for 24/7 carbon-free energy is at an all-time high, and Fervo is one of the only companies building large projects that will come online before the end of the decade,” Fervo CEO and Co-Founder Tim Latimer says in a news release. “Investors recognize that Fervo’s ability to get to scale quickly is vital in an evolving market that is seeing unprecedented energy demand from AI and other sources.”

Additionally, Fervo secured a $120 million letter of credit and term loan facility from Mercuria, an independent energy and commodity group that previously invested in the company.

“In surveying power markets across the U.S. today, the need for next-generation geothermal is undeniable,” Brian Falik, group chief investment officer of Mercuria, adds. “We believe in Fervo not just because their EGS approach is cost-effective, commercially viable, and already being deployed at scale, but because they set ambitious targets and consistently deliver.”

In February, Fervo secured $244 million in a financing round led by Devon Energy, and in September, the company received a $100 million bridge loan for the first phase of its ongoing project in Utah. This project, known as Project Cape, represents a 100x growth opportunity for Fervo, as Latimer explained to InnovationMap earlier this year. As of now, Project Cape is fully permitted up to 2 GW and will begin generating electricity in 2026, per the company.

Other wins for Fervo this year include moving into its new headquarters in downtown Houston, securing a power purchase agreement with California, growing its partnership with Google, and being named amongst the year's top inventions by Time magazine.

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This article originally ran on InnovationMap.

Greentown raises funding, a new tree initiative in Houston, and more trending energy transition news

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Editor's note: From DOE funding for underground power line research to Zeta Energy's big deal with, these are the top headlines that resonated with EnergyCapital readers on social media and daily newsletter this week.

Investors from Houston and Boston fuel Greentown with $4M commitment

A mix of public and private investors have funded Greentown Labs. Photo via GreentownLabs.com

Greentown Labs, a climatetech incubator with locations in the Houston and Boston areas, has announced it has received funding from a mix of investors.

The $4 million in funding came from both of the Houston and Massachusetts locations. Houston investors included Bobby Tudor, CEO of Artemis Energy Partners and chairman of the Houston Energy Transition Initiative; David Baldwin, co-founder of OpenMinds and TEX-E and partner at SCF Partners; and Rice University. Other investors included MassDevelopment and the City of Somerville.

“The challenges of the energy transition are immense, and the role played by technology incubators like Greentown Labs is essential,” Tudor says in a news release. “We believe this role, which is a partnership between academia, industry, philanthropists, entrepreneurs, and governments, is the best way to get to effective, scalable solutions in a time frame that the urgency of the challenge requires. We need all hands on deck, and this partnership between Massachusetts and Texas can be a role model for others.”Continue reading.

Houston launches Google-backed tool to address urban tree cover disparities

American Forests is aiming to assist with at least 100 cities to make progress on Tree Equity by 2030. Photo by Thomas Koenig/Big Pineapple Productions

The oldest national nonprofit conservation organization in the U.S American Forests has launched the Houston Tree Equity Score Analyzer, which was developed through local nonprofit Trees For Houston and local stakeholders from local government, environmental groups and the public health sector, and supported by Google’s philanthropic arm Google.org with a $450,000 grant.

To mark the launch, Trees For Houston and American Forest celebrated the partnership and worked to plant 50 trees at Shadydale Elementary in Northeast Houston on December 6.

“This marks a significant milestone for Houston's urban forestry efforts,” says Texas State Representative Senfronia Thompson at the December 6 event. “This effort goes beyond simply planting trees—it’s about creating the foundation for a greener, more inclusive future for our community. By uniting diverse resources and partners, including American Forests, Google.org and Trees For Houston, we’re showcasing a powerful dedication to enhancing the environmental well-being and quality of life in our urban areas.”Continue reading.

Houston company secures $10M contract to deliver subsea well decommissioning solution

Expro has secured a $10 million contract to provide a subsea well decommissioning solution, combining subsea safety systems and surface fluid management to support safe re-entry and fluid management for plugged and abandoned wells. Photo courtesy of Expro

Houston energy services provider Expro was awarded a contract valued at over $10 million for the provision of a well decommissioning solution.

The solution will combine subsea safety systems and surface processing design that can enable safe entry to the well and management of well fluids.

“The contract reinforces our reputation as the leading provider of subsea safety systems and surface well test equipment, including within the P&A sector,” Iain Farley, Expro’s regional vice president for Europe and Sub-Saharan Africa, says in a news release.Continue reading.

This Houston innovator's innovative corrosion detection tech is vital to the future of energy

Anwar Sadek of Corrolytics joins the Houston Innovators Podcast to discuss his company's growth and move to Houston. Photo courtesy

Houston-based Corrolytics approach is to help revolutionize and digitize microbial corrosion detection — both to improves efficiency and operational cost for industrial companies, but also to move the needle on a cleaner future for the energy industry.

"We are having an energy transition — that is a given. As we are bringing new energy, there will be growth of infrastructure to them. Every single path for the energy transition, corrosion will play a primary role as well," Anwar Sadek, co-founder and CEO of Corrolytics, says on the Houston Innovators Podcast.

The technology Sadek and his team have created is a tool to detect microbial corrosion — a major problem for industrial businesses, especially within the energy sector. Sadek describes the product as being similar to a testing hit a patient would use at home or in a clinic setting to decipher their current ailments.Continue reading.

Houston company's $2B carbon-negative fuel project to rise in Southeast Texas

Pathway Energy has announced a major sustainable aviation fuel project in Port Arthur, Texas. Rendering courtesy of Pathway Energy

Houston developer of ultra carbon-negative fuels projects Pathway Energy announced a series of commercial-scale sustainable aviation fuel (SAF) facilities with the first being based in Port Arthur, Texas.

The project, estimated to be valued at $2 billion, will be one of the largest decarbonization projects in the world.

Pathway plans to bring commercial SAF to market with its years of experience in waste and biomass conversion processes and technologies that include biomass gasification, Fischer-Tropsch, biomass power generation, and complex biorefinery and industrial processes. Continue reading.

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