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

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

grid funding

Residents in Montgomery, Liberty and Hardin counties can expect to see power grid improvements in the coming years. Photo via Getty Images

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.”

From Your Site Articles
Ad Placement 300x100
Ad Placement 300x600

CultureMap Emails are Awesome

Property Showcase

KBR appoints C-suite duo to lead forthcoming spinoff

Making Moves

In advance of the spinoff of its Mission Technology Solutions unit, Houston-based KBR has made two C-suite hires for the new business.

Michael LaRouche is coming aboard as president and CEO of the spinoff, currently called SpinCo, on Sept. 26. Nicholas Veasey joined as executive vice president and chief financial officer earlier this month, on July 1.

“Michael and Nick bring a highly complementary combination of operational leadership, financial expertise, and mission-driven experience, and together they will accelerate our impact for stakeholders,” Stuart Bradie, chairman, president and CEO of publicly traded KBR, said in a news release.

LaRouche currently is CEO of Serco North America, a Herndon, Virginia-based government services contractor. Veasey most recently was CFO of MAG Aerospace, a Fairfax, Virginia-based defense contractor.

SpinCo, a government services contractor, will launch with more than $5.3 billion in annual revenue and 20,000 employees. KBR’s total headcount is around 36,000. Branding for SpinCo, including a formal name, will be revealed in July.

“SpinCo is positioned as a top-tier provider of differentiated technology solutions, anchored by deep mission expertise, global scale, and a relentless commitment to delivering for our customers,” LaRouche says.

After the spinoff, the slimmed-down KBR will focus on its Sustainable Technology Solutions business, a provider of energy and industrial technology that generated $2.5 billion in revenue in 2025 and is designed to reduce carbon emissions and support energy transition efforts. Bradie will remain chairman, president and CEO of the business.

Both SpinCo and the new KBR will be public companies. The spinoff is scheduled to be completed in January 2027.

---

This article first appeared on InnovationMap.com.

Houston PE firm makes latest nuclear industry acquisition

nuclear deal

Houston-based private equity firm Pelican Energy Partners has acquired California-based Veridiam for an undisclosed amount in an effort to further increase the firm’s focus on the nuclear energy sector.

Veridiam is a strategic manufacturer that specializes in the precision fabrication of components and assemblies made from exotic metals or advanced alloys for the nuclear, aerospace, defense, space and medical fields.

Following the acquisition, Veridiam will continue to operate under its existing name and will led by its current management team, including CEO Brian Joyal.

“Joining the Pelican platform accelerates our strategic trajectory," Joyal said in a news release. "With Pelican's support, we will accelerate the modernization and expansion of our manufacturing capabilities to meet unprecedented demand across the nuclear, aerospace, defense, and medical sectors. This partnership also enables us to expand our portfolio of mission-critical products and engineered solutions while maintaining the uncompromising quality, precision, and reliability standards that have defined Veridiam for more than 60 years."

Since 2011, Pelican has raised over $1 billion in committed capital and has realized over 15 investments. Currently, Pelican is investing from its fourth fund, which aims to support and advance companies that provide critical services and products to the nuclear power industry.

In 2024, Pelican raised a $450 million fund to invest in nuclear energy services and equipment companies.

The Veridiam deal comes after Pelican has completed several nuclear acquisitions. The PE firm acquired New Hampshire-based Environmental Alternatives Inc., which provides nuclear decontamination services, in April; it acquired Georgia-based WSI Welding Solution in December, which services the nuclear sector.

"Veridiam sits at the center of our investment thesis and reflects the kind of deal Pelican does best," Mike Scott, managing partner and founder of Pelican Energy Partners, added in the news release. "With the right capital and operating support, we see a clear opportunity to strengthen the business, invest in its capabilities, and create long-term value for customers and shareholders."

How Mitsubishi Heavy Industries America is advancing the hydrogen economy

The View from HETI

Mitsubishi Heavy Industries America (MHIA), a steering-level member company of the Houston Energy Transition Initiative, is leveraging engineering expertise and global capabilities to develop and deploy technologies that will decarbonize existing infrastructure and build the hydrogen economy of the future. The company’s recent investment in Koloma, a Colorado-based geologic hydrogen exploration startup, demonstrates its commitment to breakthrough innovations that can transform how the world produces and uses clean energy.

Traditional hydrogen production methods, whether from natural gas with carbon capture or from electrolysis using renewable electricity, require significant energy inputs and infrastructure investments. Geologic hydrogen represents a potentially transformative alternative: naturally occurring hydrogen deposits that can be extracted from underground reservoirs.

Koloma is pioneering the exploration and commercialization of geologic hydrogen using proprietary technology, unique data sets, and specialized expertise to identify and develop these resources globally. If successful at scale, geologic hydrogen could provide clean, affordable hydrogen without the energy penalty of production.

MHIA’s investment in Koloma joins a syndicate of strategic partners committed to accelerating hydrogen development:

  • Breakthrough Energy Ventures: Bill Gates’ climate investment fund focused on breakthrough technologies
  • Amazon’s Climate Pledge Fund: Supporting technologies that enable Amazon’s path to net zero
  • United Airlines’ Sustainable Flight Fund: Investing in solutions for aviation decarbonization

This partnership brings together technology innovation, capital, and potential customers to create the ecosystem needed to move from exploration to commercial deployment.

MHIA’s investment in geologic hydrogen is part of the company’s broader strategy to develop the complete hydrogen value chain:

Production: Beyond geologic hydrogen, MHIA is advancing technologies for hydrogen production from diverse sources, including natural gas with carbon capture and renewable-powered electrolysis.

Infrastructure: The company is developing the compression, storage, and transportation systems needed to move hydrogen from production sites to end users.

End-Use Applications: MHIA’s expertise spans power generation, industrial processes, and transportation applications that can utilize hydrogen as a clean fuel.

Integration: The company is working to integrate hydrogen systems with existing infrastructure, enabling decarbonization without requiring complete infrastructure replacement.

While new technologies like geologic hydrogen offer exciting possibilities, MHIA recognizes that much of the world’s energy infrastructure will continue operating for decades. The company is also investing in technologies that decarbonize existing systems:

  • MHIA is developing and deploying carbon capture systems that can be retrofitted to existing power plants and industrial facilities, allowing them to continue operating while dramatically reducing emissions.
  • The company’s gas turbine technologies can operate on blends of natural gas and hydrogen, enabling progressive decarbonization as hydrogen availability increases.
  • Through advanced controls, materials, and designs, MHIA is improving the efficiency of existing infrastructure—reducing fuel consumption and emissions without requiring replacement.

MHIA’s approach to the energy transition is guided by a clear mission: develop innovative technologies that help achieve a decarbonized society while maintaining energy security and affordability. This mission recognizes several important realities:

Energy Access Matters: Billions of people still lack access to reliable, affordable energy. Solutions must scale globally and work across diverse economic contexts.

Existing Infrastructure Represents Enormous Investment: The world has trillions of dollars invested in energy infrastructure. Solutions that work with this infrastructure can deploy faster than those requiring complete replacement.

Multiple Pathways Are Needed: No single technology will solve the climate challenge. Success requires parallel development of multiple solutions—hydrogen, carbon capture, renewables, nuclear, efficiency, and others.

Speed Matters: Climate change is a time-sensitive challenge. Technologies that can deploy at scale in the 2020s and 2030s matter more than perfect solutions that might be available in the 2040s or 2050s.

From Technology to Impact

MHIA’s investment in Koloma reflects the company’s belief that breakthrough technologies require patient capital, technical expertise, and strategic partnerships to move from concept to commercial reality. Geologic hydrogen has the potential to provide clean, affordable hydrogen at scale—but only if exploration techniques are validated, production methods are proven, and commercial models are demonstrated.

By investing early and providing both capital and technical support, MHIA is helping to accelerate this timeline. If Koloma succeeds, the impact could extend far beyond a single project and could unlock a vast new resource for the global energy transition.

The energy transition requires engineering excellence, patient capital, and willingness to back breakthrough innovations before they’re fully proven. Through HETI member companies like Mitsubishi Heavy Industries America, Houston is demonstrating the leadership, technical capabilities, and strategic vision needed to build a hydrogen economy that can help decarbonize the world’s energy system.

———

This article originally appeared on the Greater Houston Partnership's Houston Energy Transition Initiative blog. Learn more about MHIA’s energy transition initiatives at MHI Group Sustainability and read the full analysis here.

View All Listings