Houston renewable energy developer continues growth in New York with 10 new solar projects

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With $100 million in fresh funding, Houston-based Catalyze has announced 10 new solar development projects in New York. Photo via Getty Images

A Houston renewable energy developer has announced 10 new projects in partnership with a New York company.

Cataly ze selected GreenSpark Solar — an engineering, procurement, and construction company — to work on 10 new renewable energy projects totaling 60 megawatts.

“We’re excited to expand our solar portfolio through this partnership with GreenSpark, which has been a leader in the New York renewable energy landscape for over two decades now,” Jared Haines, CEO of Catalyze, says in a news release. “We look forward to sharing our mutual expertise to provide New Yorkers with affordable and reliable renewable electricity, regardless of geography or income.”

The projects, which are expected to deliver this year through mid 2025, will be funded in part by the New York State Energy Research and Development Authority through the NY-Sun Program. The state has a goal of installing 10 gigawatts of distributed solar and reaching 70 percent renewable energy by 2030, per the release.

“Community solar is one of the best avenues to bring the energy transition to low-middle income communities—a movement that GreenSpark is incredibly passionate about,” adds Kevin Schulte, CEO of GreenSpark Solar. “We are excited to support Catalyze’s success in bringing community solar projects online across New York and look forward to supporting them to bring this portfolio of solar projects to fruition, and in turn, bring more renewable energy to our communities.”

The deal follows Catalyze's May announcement that it secured $100 million in financing from NY Green Bank to support a 79 megawatt portfolio of community distributed generation solar projects across the state of New York.

Catalyze also announced another partnership earlier this month with real estate leader Cushman & Wakefield to expand installation of solar panels and battery storage technology at U.S. commercial and industrial properties.

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Bildmore expects to invest in 10 to 15 third-party, utility-scale clean energy projects each year. Photo via Bildmore.com

Houston renewables developer launches platform to invest in energy transition projects

new in Hou

Houston-based EnCap Energy Transition Fund has launched a platform that will take minority equity stakes in battery storage systems, solar energy systems, and other energy transition projects in the U.S.

With its new Bildmore arm, the EnCap fund aims to fuel development of renewable energy projects that can’t attract traditional tax equity financing. Bildmore expects to invest in 10 to 15 third-party, utility-scale clean energy projects each year.

Bildmore seeks to capitalize on clean energy incentives tucked into the federal Inflation Reduction Act of 2022, including the ability of projects to sell tax credits. Specifically, the platform says it hopes to address “a chronic short supply” of tax equity deals due to heightened demand triggered by the inflation reduction law.

EnCap is no stranger to utility-scale solar power and battery storage systems. The fund backs Houston-based Broad Reach Power and Austin-based Jupiter Power, two of the largest players in the U.S. market for battery storage.

David Haug leads Bildmore as its CEO. He is co-founder and senior managing director of Houston-based Arctas Capital Group, which invests in energy infrastructure projects.

“Bildmore will focus on … battery storage and solar projects, particularly those which have chosen to leave all or part of their energy output available for ‘merchant’ sale rather than be sold under long-term contracts,” Haug says in a news release. “We want to help those development teams lacking the deep balance sheets typically required by tax equity providers.”

EnCap Investments, sponsor of the EnCap Energy Transition Fund, manages capital from more than 350 U.S. and international investors. Since its founding in 2019, EnCap Investments has raised 25 institutional investment funds totaling about $41 billion to support independent energy businesses in the U.S.

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Houston joint venture secures $5.2M for AI-powered methane tracking tech

fresh funds

Houston-based Envana Software Solutions has received more than $5.2 million in federal and non-federal funding to support the development of technology for the oil and gas sector to monitor and reduce methane emissions.

Thanks to the work backed by the new funding, Envana says its suite of emissions management software will become the industry's first technology to allow an oil and gas company to obtain a full inventory of greenhouse gases.

The funding comes from a more than $4.2 million grant from the U.S. Department of Energy (DOE) and more than $1 million in non-federal funding.

“Methane is many times more potent than carbon dioxide and is responsible for approximately one-third of the warming from greenhouse gases occurring today,” Brad Crabtree, assistant secretary at DOE, said in 2024.

With the funding, Envana will expand artificial intelligence (AI) and physics-based models to help detect and track methane emissions at oil and gas facilities.

“We’re excited to strengthen our position as a leader in emissions and carbon management by integrating critical scientific and operational capabilities. These advancements will empower operators to achieve their methane mitigation targets, fulfill their sustainability objectives, and uphold their ESG commitments with greater efficiency and impact,” says Nagaraj Srinivasan, co-lead director of Envana.

In conjunction with this newly funded project, Envana will team up with universities and industry associations in Texas to:

Advance work on the mitigation of methane emissions
Set up internship programs
Boost workforce development
Promote environmental causes

Envana, a software-as-a-service (SaaS) startup, provides emissions management technology to forecast, track, measure and report industrial data for greenhouse gas emissions.

Founded in 2023, Envana is a joint venture between Houston-based Halliburton, a provider of products and services for the energy industry, and New York City-based Siguler Guff, a private equity firm. Siguler Gulf maintains an office in Houston.

“Envana provides breakthrough SaaS emissions management solutions and is the latest example of how innovation adds to sustainability in the oil and gas industry,” Rami Yassine, a senior vice president at Halliburton, said when the joint venture was announced.

Top 6 Houston energy events to attend in February 2025

Energy Events

Editor's note: February is here, and the month is buzzing with forums, conferences, and the largest AI in Energy event. Here are six Houston energy events that you won't want to miss this month. Mark your calendars now, and plan ahead for the rest of Q1 via this guide.

February 4 — 2025 Brazil Summit: Energy at a Crossroads

The Brazil Summit, held at Rice University's Baker Institute, will explore Brazil’s evolving energy sector, including recent progress in energy transition regulations, as well as the 2024 U.S. election's implications for Brazil's future. Participants from Brazil and the U.S., including policymakers, energy leaders, financial experts and more, will join the summit, which is free to attend and open to the public.

This event takes place Tuesday, February 4, at 7:30 am. Registration is required. Click here to register.

February 10-11— 6th American LNG Forum

Join LNG industry professionals, innovators and policymakers to discover groundbreaking technologies that are driving the future of liquified natural gas. From market dynamics to decarbonization strategies, this is your chance to connect, learn and become part of the LNG revolution at American LNG Forum.

This event begins Monday, February 10, at the Westin Galleria Houston. Click here to register.

February 11-12 — Oil & Gas Automation and Technology Week

Oil and Gas Automation and Technology Week brings together oil and gas operators to share best-practice strategies for accelerating business transformation, decarbonization, and energy transition with disruptive technology. Expert speakers from the automation and technology space include Jack Hu, Dow; Partha Chatterjee, Shell; and Philippe Daroux, Chevron.

The two-day event takes place at the Sonesta Houston Hotel IAH Airport. Click here to register.

February 19-20— 7th Global Energy Forum 2025

The Global Energy Forum brings a bipartisan collective of U.S. Congressmen together with top energy executives to convene for off-the-record discussions in order to explore the energy strategies and solutions for a sustainable, clean, reliable and affordable energy future. Policymakers and executives from energy, finance, and technology will engage in dialogue on energy infrastructure, technological innovation, policy and regulation reform needed to respond to the global energy crisis.

This event begins Wednesday, February 19, at 7:30 am at the Petroleum Club of Houston. Click here to register.

February 24-25 — AI In Energy

Join 150+ senior operations, digital, data and AI leaders in Houston for the industry's largest AI in Energy event, and unlock the potential of AI within your operations. Key points of discussion include how to pair digital twins and gen AI, know when your critical assets need maintenance, move beyond pilot program to scale AI across the enterprise, and leverage generative AI and data intelligence to unlock asset reliability.

This event begins Monday, February 24 at 7:30 am at Norris Conference Centers' City Centre. Click here to register.

February 25-27 — 2025 Energy HPC Conference

The 18th annual Energy High Performance Computing Conference, hosted at Rice University by the Ken Kennedy Institute, is the premier meeting place for the energy industry to engage in conversations about challenges and opportunities in high-performance computing, computational science and engineering, machine learning and data science. Attended by more than 500 leaders and experts, this is a unique opportunity for key stakeholders to engage and network to help advance HPC in the energy industry.

This event begins Tuesday, February 25, at Rice University. Click here to register.

Geothermal energy startup's $600M deal fuels surge in Houston VC funding

by the numbers

The venture capital haul for Houston-area startups jumped 23 percent from 2023 to 2024, according to the latest PitchBook-NVCA Venture Monitor.

The fundraising total for startups in the region climbed from $1.49 billion in 2023 to $1.83 billion in 2024, PitchBook-NVCA Venture Monitor data shows.

Roughly half of the 2024 sum, $914.3 million, came in the fourth quarter. By comparison, Houston-area startups collected $291.3 million in VC during the fourth quarter of 2023.

Among the Houston-area startups contributing to the impressive VC total in the fourth quarter of 2024 was geothermal energy startup Fervo Energy. PitchBook attributes $634 million in fourth-quarter VC to Fervo, with fulfillment services company Cart.com at $50 million, and chemical manufacturing platform Mstack and superconducting wire manufacturer MetOx International at $40 million each.

Across the country, VC deals total $209 billion in 2024, compared with $162.2 billion in 2023. Nearly half (46 percent) of all VC funding in North America last year went to AI startups, PitchBook says. PitchBook’s lead VC analyst for the U.S., Kyle Stanford, says that AI “continues to be the story of the market.”

PitchBook forecasts a “moderately positive” 2025 for venture capital in the U.S.

“That does not mean that challenges are gone. Flat and down rounds will likely continue at higher paces than the market is accustomed to. More companies will likely shut down or fall out of the venture funding cycle,” says PitchBook. “However, both of those expectations are holdovers from 2021.”

This story originally appeared on our sister site, InnovationMap.com.

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