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CERAWeek announces winners of annual clean tech pitch competition

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The teams at this year's Energy Venture Day and Pitch Competition have collectively raised $435 million in funding. Photo courtesy of CERAWeek

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.

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New Houston energy startup launches to power AI data centers

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Buoyed by a purchase agreement from Microsoft, Houston-based Joulent recently launched to build power plants that meet the electricity demands of AI data centers and other computing-heavy industries.

Joulent builds dedicated power-generating facilities that feed directly into data centers and other power-dependent facilities, eliminating the need for companies to siphon power from grids. Joulent’s plants combine generation, storage and smart controls in a modular, scalable setup, according to a news release.

Investment firm Engine No. 1 established Joulent in collaboration with energy technology company GE Vernova.

Joulent’s first project, the Project Kilby natural gas facility in West Texas, will be co-located with a Microsoft data center. It’ll deliver about 2.67 gigawatts of power under a 20-year deal between Microsoft and Energy Forge One, a subsidiary of Houston-based Chevron. Engine No. 1 and Chevron teamed up to build the plant.

GE Vernova will supply most of the plant’s power capacity, with additional capacity coming from Solar Turbines, a subsidiary of Irving-based construction and mining equipment manufacturer Caterpillar.

“Leadership in the AI era will be determined by who can deliver energy and compute the fastest, most reliably, and at the lowest cost,” Chris James, founder and CEO of Engine No. 1 and Joulent, said in a news release. “By building new power-generating facilities, Joulent enables customers across industries to power the next chapter of American innovation, while reducing pressure on existing grids and maintaining affordability for ratepayers.”

6 Houston greentech cos. named world's best & more top energy headlines

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Editor's note: Summer is heating up with big news in the energy transition sector, from Time's World's Top GreenTech Companies of 2026 to ExxonMobil's new Texas legal HQ. Below are the five most-read EnergyCapitalHTX stories published June 15-30, 2026:

1. 6 Houston companies earn recognition on Time’s global greentech list 2026

Six Houston-area businesses appear on Time magazine’s 2026 list of the world’s top greentech companies, with a high-flying name leading the pack. The highest-ranked local company is Houston-based geothermal power producer Fervo Energy, which claims the No. 4 spot—up from No. 14 last year. Continue reading.

2. Houston-based Syzygy lands global customer for first commercial SAF plant

Houston-based Syzygy lands global customer for first commercial SAF plant

Houston-based Syzygy Plasmonics has secured a major future customer for its sustainable aviation fuel. Syzygy has entered into a capacity reservation agreement with World Fuel Services, a global fuel distribution and logistics company. Through the deal, World Fuel has reserved a portion of Syzygy's SAF production for future plants slated for Central and South America. The clean fuel will be produced at Syzygy’s NovaSAF-1 facility in Uruguay, which is moving toward construction. Continue reading.

3. Fervo promotes strategy leader to COO as flagship geothermal project nears launch

Houston geothermal unicorn Fervo Energy has named Sarah Jewett as its new COO. Jewett steps into the role as the company prepares for its flagship Cape Station geothermal project to deliver its first power later this year. Jewett joined Fervo in 2020 as director of strategy and most recently served as the company's senior vice president of strategy. Continue reading.

4. UH study finds Gulf Coast best positioned for emerging carbon removal technology

The Gulf Coast is an ideal spot for deploying a new ocean-based carbon removal technology that uses seawater to capture and store carbon dioxide, according to a new study from the University of Houston. The study was led by UH Cullen College of Engineering Professor Mim Rahimi and published in Nature’s Communications Sustainability journal. Abdelrahman Refaie, a PhD student at UH, authored the paper. It aimed to develop a plan for implementing an electrochemical marine carbon dioxide removal (e-mCDR) technology that treats seawater to increase the ocean’s ability to absorb and store carbon dioxide from the air. Continue reading.

5. ExxonMobil announces date to move legal headquarters to Texas

Energy giant Exxon Mobil Corp. has set a date to move its legal headquarters to Texas. The Spring-based company announced that the redomiciliation from New Jersey to Texas is expected to be effective July 1. Exxon's board of directors unanimously recommended redomiciling in the Lone Star State in March, and shareholders approved the move to Texas at the company’s annual meeting in May. Continue reading.

Baker Hughes signs deal to install 500 MW of geothermal power

geothermal growth

Baker Hughes has made a deal to further expand its geothermal operations.

The Houston-based energy giant has signed an agreement with Mantle Reach Power to develop geothermal energy projects across North America. The companies say they aim to install up to 500 megawatts of geothermal power in the next five years, according to a news release.

Through the new agreement, Baker Hughes will provide subsurface technology and solutions while Mantle Reach Power will lead project development, ownership and financing. Mantle Reach Power is a geothermal development company backed by the $47 billion EnCap Energy Transition Fund III.

According to the release, the deal aims to help solve one of geothermal energy's fundamental problems by aligning capital with expertise and technology, and enhancing "pre-construction bankability."

“Geothermal is a clean power solution that is proving to be a vital contributor to advancing sustainable energy development, with incredible potential to enhance U.S. energy security, support digital infrastructure, and ensure energy remains accessible and affordable ... Today’s announcement celebrates the commercial architecture the industry has been missing: a repeatable, financeable model that can be deployed at the speed and scale to meet global energy demands,” Baker Hughes Chairman and CEO Lorenzo Simonelli said in the news release.

“Integrating Baker Hughes’ subsurface-to-surface expertise with our capabilities in project development, finance, and execution positions Mantle Reach Power to commercialize geothermal assets at scale,” Nick Karambelas, CEO of Mantle Reach Power, added in the release. “This structure provides the construction and operating certainty necessary to access conventional project financing and accelerate our growth as an independent power producer.”

Baker Hughes has launched multiple geothermal partnerships in recent months. The company announced a deal with Oklahoma-based Helmerich & Payne Inc. (H&P) in May to develop a geothermal rig, where H&P will provide a geothermal-capable land drilling rig and Baker Hughes will contribute technology.

In March, the company announced support for XGS’s geothermal extraction projects in New Mexico, which are being used to meet the increasing demands of data centers in the state. Last year, Fervo Energy selected Baker Hughes to supply equipment for its flagship geothermal project in Utah.

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