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Houston trio lands on Time’s list of 10 most influential energy companies

making an impact

Fervo Energy's flagship Cape Station geothermal project is scheduled to start delivering power to the grid this year. Photo courtesy Fervo Energy

Three companies with headquarters in Houston made Time magazine’s new list of the 10 most influential energy companies.

The unranked list includes:

  • Houston-based oil and gas giant Chevron
  • Houston-based Fervo Energy, a geothermal power provider that just went public in a $1.9 billion IPO
  • Saudi Aramco, the world’s largest oil company, whose U.S. headquarters is in Houston

In naming Chevron to the list, Time cites the company’s standing as the only major American oil company operating in Venezuela. Time says Chevron wields “extraordinary power” over Venezuela’s massive oil reserves.

Despite pressure from the White House on U.S. oil and gas producers to ramp up investments in Venezuela, “Chevron has pumped the brakes, pledging to boost output gradually and not chase price fluctuations,” Time says.

“Chevron has been in Venezuela for over a century,” CEO Mike Wirth told shareholders in January. “We remain committed to leveraging our deep expertise and long-standing partnerships for the benefit of our shareholders and the people of Venezuela.”

Time points out that Fervo sits “at the front of the pack” in generation of geothermal energy. The Houston-based company uses fracking techniques borrowed from the oil and gas industry to create underground hot-rock reservoirs that heat water to generate electricity.

Fervo’s Cape Station in Utah is scheduled to start delivering power to the grid this year. At full capacity of 500 megawatts, it will be the first large-scale commercial geothermal plant in the U.S. Time says another site in Utah, Project Blanford, is Fervo’s hottest well yet, highlighting the potential for harnessing geothermal heat for at-scale clean energy.

“It’s hard to find something that can [deliver] reliable 24/7 energy, that’s carbon-free, and can be constructed in a timely manner,” Fervo CEO Tim Latimer said. “It’s energy without a lot of the compromises.”

Government-owned Saudi Aramco, which last year earned $104.7 billion in profit, not only is a dominant player in the Mideast oil and gas sector, but Time says it holds “global clout in politics and business” that reaches far beyond oilfields. For example, the company finances big projects spearheaded by Crown Prince Mohammad Bin Salman, who chairs Saudi Arabia’s sovereign wealth fund. These include initiatives in global sports, tourism, and AI.
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20-plus companies will pitch at Energy Tech Nexus' Pilotathon during Houston Energy & Climate Startup Week. Photo via Getty Images.

Energy Tech Nexus announces international startups to pitch at Pilotathon

Ready, Set, Pitch

Energy Tech Nexus will host its Pilotathon and Showcase as part of Houston Energy & Climate Startup Week next Tuesday, Sept. 16, featuring insightful talks from industry leaders and pitches from an international group of companies in the clean energy space.

This year's event will center around the theme "Energy Access and Resilience." Attendees will hear pitches from nine Pilotathon pitch companies, as well as the 14 companies that were named to Energy Tech Nexus' COPILOT accelerator earlier this year.

COPILOT partners with Browning the Green Space, a nonprofit that promotes diversity, equity and inclusion (DEI) in the clean energy and climatetech sectors. The Wells Fargo Innovation Incubator (IN²) at the National Renewable Energy Laboratory backs the COPILOT accelerator, where companies are tasked with developing pilot projects for their innovations.

The nine Pilotathon pitch companies include:

  • Ontario-based AlumaPower, which has developed a breakthrough technology that converts the aluminum-air battery into a "galvanic generator," a long-duration energy source that runs on aluminum as a fuel
  • Calgary-based BioOilSolv, a chemical manufacturing company that has developed cutting-edge biomass-derived solvents
  • Atlanta-based Cultiv8 Fuels, which creates high-quality renewable fuel products derived from hemp
  • Newfoundland-based eDNAtec Inc., a leader in environmental genomics that analyzes biodiversity and ecological health
  • Oregon-based Espiku Inc., which designs and develops water treatment and mineral extraction technologies that rely on low-pressure evaporative cycles
  • New York-based Fast Metals Inc., which has developed a chemical process to extract valuable metals from complex toxic mine tailings that is capable of producing iron, aluminum, scandium, titanium and other rare earth elements using industrial waste and waste CO2 as inputs
  • New Jersey-based Metal Light Inc., which is building a circular, solid metal fuel that will serve as a replacement for diesel fuel
  • Glasgow-based Novosound, which designs and manufactures innovative ultrasound sensors using a thin-film technique to address the limitations of traditional ultrasound with applications in industrial, medical and wearable markets
  • Calgary-based Serenity Power, which has developed a cutting-edge solid oxide fuel cell (SOFC) technology

The COPILOT accelerator companies include:

  • Accelerate Wind
  • Aquora Biosystems Inc.
  • EarthEn
  • Electromaim
  • EnKoat
  • GeoFuels
  • Harber Coatings Inc.
  • Janta Power
  • NanoSieve
  • PolyQor Inc.
  • Popper Power
  • Siva Powers America
  • ThermoShade
  • V-Glass Inc.

Read more about them here.

The Pilotathon will also include a keynote from Taylor Chapman, investment manager at New Climate Ventures; Deanna Zhang, CEO at V1 Climate Solutions; and Jolene Gurevich, director of fellowship experience at Breakthrough Energy. The Texas Climate Tech Collective will present its latest study on the Houston climate tech and innovation ecosystem.

CEOs Moji Karimi of Cemvita, Laureen Meroueh of Hertha Metals and others will also participate in a panel on successful pilots. Investors from NetZero Ventures, Halliburton Labs, Chevron, Saudi Aramco, Prithvi VC and other organizations will also be on-site. Find registration information here.

Utility Global’s technology enables reduction of greenhouse gas emissions along with generation of low-carbon fuels and chemicals. Photo courtesy of Utility Global

Houston energy company focused on decarbonization raises $53M series C

money moves

Houston-based Utility Global, a maker of decarbonization-focused gas production technology, has raised $53 million in an ongoing series C round.

Among the participants in the round are Canada’s Ontario Power Generation Pension Plan, the XCarb Innovation Fund operated by Luxembourg-based steel company ArcelorMittal, Houston-based investment firm Ara Partners, and Saudi Aramco’s investment arm.

Also, Utility Global and ArcelorMittal have agreed to develop at least one decarbonization facility at an ArcelorMittal steel plant.

The latest infusion of cash will support the rollout of Utility Global’s eXERO technology, including establishment of the company’s first commercial facilities in 2026.

“With the successful completion of its demonstration program at a commercial steel facility resulting in the first hydrogen ever produced from blast furnace off-gasses in a single reactor, the company has shifted to commercial deployments,” Utility Global says in a news release.

Utility Global’s technology enables reduction of greenhouse gas emissions along with generation of low-carbon fuels and chemicals.

“Our eXERO solution is the first of its kind to convert process gasses into clean hydrogen in a single reactor, onsite, in a cost-effective manner that extends the life of existing customer assets and processes while providing significant emissions reductions,” says Claus Nussgruber, CEO of Utility Global.

Houston-based energy companies have again held a sizable presence on the Fortune 500 ranking. Photo via Getty Images

Houston energy companies score big on annual Fortune 500 ranking

big cos.

Fourteen businesses with global or regional headquarters in the Houston area appear on Fortune’s new list of the world’s 500 biggest companies.

Oil and gas company Saudi Aramco, whose headquarters for the Americas is in Houston, leads the Houston-area pack. With annual revenue of $494.9 billion, it lands at No. 4 on the Fortune Global 500. Ahead of Saudi Aramco are U.S. retailers Walmart and Amazon, and Chinese electric company State Grid.

To put Saudi Aramco’s annual revenue in perspective, the total is slightly above the gross domestic product for the Philippines.

For the third year in a row, Saudi Aramco stands out as the most profitable member of the Fortune Global 500. The company racked up $121 billion in profit last year.

Overall, Saudi Aramco and 32 other petroleum refiners — many of them with a significant presence in the Houston area — made the Fortune Global 500.

“The Global 500 is the ultimate scorecard for business success. The aggregate revenue of the Fortune Global 500 in 2023 reached $41 trillion, a record level. That sum represents more than a third of global GDP — a sign of how much economic power is concentrated in these companies,” Scott DeCarlo, Fortune’s vice president of research, says in a news release.

Here’s the rundown of Fortune Global 500 companies with global or regional headquarters in the Houston area, including the ranking and annual revenue for each:

  • Saudi Aramco, No. 4, $494.9 billion, Americas headquarters in Houston
  • ExxonMobil, No. 12, $344.6 billion, global headquarters in Spring
  • Shell, No. 13, $323.2 billion; U.S. headquarters in Houston
  • TotalEnergies, No. 23, $218.9 billion, U.S. headquarters in Houston
  • BP, No. 25, $213 billion, U.S. headquarters in Houston
  • Chevron, No. 29, $200.9 billion, global headquarters relocating to Houston in 2024
  • Phillips 66, No. 52, $149.9 billion, global headquarters in Houston
  • Engie, No. 130, $89.3 billion, North American headquarters in Houston
  • Sysco, No. 163, $76.3 billion, global headquarters in Houston
  • ConocoPhillips, No. 235, $58.6 billion, global headquarters in Houston
  • Enterprise Products Partners, No. 303, $49.7 billion, global headquarters in Houston
  • Plains GP Holdings, No. 311, $48.7 billion, global headquarters in Houston
  • LyondellBasell, No. 368, $41.1 billion, global headquarters in Houston
  • SLB (formerly Schlumberger), No. 479, $33.1 billion, global headquarters in Houston

Fortune uses revenue figures for budget years ending on or before March 31, 2024, to rank the world’s largest companies.

Five companies with connections to Houston have made it on this year’s 100 most influential companies by Time magazine. Photo via Getty Images

Houston energy businesses score spots on prestigious list of most influential companies

LEADING THE PACK

Five companies with strong ties to Houston have been named among this year’s 100 most influential companies by Time magazine, with a few representing the energy industry.

The five companies are:

  • South Korea’s Hanwha Group, whose Hanwha Power Systems Americas subsidiary is in Houston. Hanwha, known as the “Lockheed Martin of Asia,” was praised for winning approval last year from the American Bureau of Shipping for the world’s first large-scale, carbon-free liquefied natural gas (LNG) vessel.
  • Saudi Aramco, whose Americas headquarters is in Houston. Time cited Saudi Aramco’s dominance in the global oil market as a $1.9 billion “giant.”
  • Germany-based ThyssenKrupp Nucera, whose U.S. headquarters is in Houston. The company builds alkaline water electrolyzers to power steel mills and other fossil-fuel-dependent industrial sites.
  • United Airlines, which operates a hub at George Bush Intercontinental Airport. Chicago-based United was lauded for funding startups that help produce sustainable aviation fuel.
  • Houston-based Intuitive Machines. In February, the company’s Odysseus spacecraft became the first commercial spacecraft to land on the moon. The feat also marked the first U.S. landing on the moon since 1972.

To come up with the fourth annual list, Time solicited nominations and polled in-house contributors and correspondents, along with external experts. Editors at Time then evaluated each company based on factors such as impact, innovation, ambition, and success.

“The result is a diverse group of 100 businesses helping chart an essential path forward,” the magazine says.

In a news release, Time’s editor in chief, Sam Jacobs, says the list of 100 companies “is more than an index of business success.”

“It is an argument for what business influence looks like in 2024,” Jacobs adds. “At a time when leadership in other sectors is battered, surveys suggest that many look to corporate leaders first for direction …. Each show us how companies can provide new models and new inspiration for the future of humanity.”

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This article originally ran on InnovationMap.

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New York energy firm scoops up Houston’s Infinity Power Partners

m&a activity

Houston-based energy management and consulting firm Infinity Power Partners has been acquired by New York City-based Environ Energy, which also offers energy management and consulting services.

The deal creates a new “anchor segment” for Environ in the multifamily market. With the addition of Infinity Power’s roughly 2,000 clients in the multifamily sector, representing more than 1 million multifamily units under contract, Environ now has more than 8,000 U.S. clients in the commercial real estate, healthcare, manufacturing, education and government sectors.

“This acquisition continues to solidify our presence in key energy markets while aligning with founders who share our deep commitment to client success,” Environ CEO Chris Sternberg said in a news release.

Infinity Power co-founders and managing partners Nick Altman and Peter Selber have joined Environ, a portfolio company of investment firm 424 Capital. Altman and Selber founded Infinity Power in 2011.

“We built our business one relationship at a time,” Selber said, “with a strong commitment to the communities we serve. That same dedication is reflected in Environ’s approach — now delivered at scale.”

Altman says the acquisition is part of the “next chapter” in energy management. Energy management services help commercial customers reduce utility bills, improve equipment life, achieve green energy goals, and decrease risk tied to fluctuating energy prices.

“Energy management is a culture for continual improvement of energy performance and efficiency that’s integrated within an organization’s normal business practice,” according to the U.S. Office of Energy Efficiency & Renewable Energy.

In all, Environ has made six acquisitions in the past 17 months.

Last year, Environ acquired another Houston-based energy management and consulting firm, CSD Energy Advisors. In that deal, Environ gained nearly 1,000 clients, including several Fortune 500 companies and three large industrial energy users in Texas. As part of the deal, CSD co-founders Andrew Barth and JB Sowyrda joined Environ.

Also last year, Environ purchased Carrollton-based energy advisory firm Rapid Power Management (RPM).

Houston's PowerBridge partners on 2GW Texas AI data center campus

data center venture

Houston-based PowerBridge has formed a joint venture with Denver-based Liberty Energy to develop large-scale data center campuses.

The joint venture’s initial focus will be PowerBridge’s Alpha Digital Campus, a 2-gigawatt data center operation planned for West Texas. PowerBridge sets up data center campuses to support AI and cloud computing. Liberty is an energy company whose Liberty Power Innovations subsidiary offers distributed power and energy storage services.

Houston-based investment firm Five Point Infrastructure LLC established PowerBridge last year, committing up to $1 billion in equity. Earlier this month, The Wall Street Journal reported Five Point is trying to raise $2.5 billion for a new fund targeting water management projects, natural gas treatment systems and data center sites.

Through Five Point subsidiary LandBridge, PowerBridge enjoys access to more than 275,000 acres for infrastructure development as well as low-cost natural gas.

The first phase of PowerBridge’s West Texas campus is expected to offer more than 300 megawatts of generation capacity, with the potential to add more capacity over time. The campus is scheduled to start delivering power in the fourth quarter of 2027.

“By aligning our powered-campus development assets with Liberty’s comprehensive power services and operational expertise, we are creating a model that can be scaled across future gigawatt-scale powered data center campuses in West Texas,” Alex Hernandez, founder and CEO of PowerBridge, said in a release.

Before joining PowerBridge in 2025, Hernandez led Cumulus Data and Talen Energy Corp., a provider of power and energy infrastructure. Amazon Web Services bought Cumulus Data, a subsidiary of Houston-based Talen, in 2024 for $650 million. Cumulus develops nuclear-powered data centers.

Hernandez sits on the board of the Electric Reliability Council of Texas (ERCOT), which manages about 90 percent of the state’s electrical load.

Liberty recently announced a partnership with Houston-based energy technology company SLB to support the expansion of data center capacity.

Energy AI startup chooses Houston for first U.S. office after $20M raise

welcome to houston

London-based AI firm Applied Computing has announced a $20 million Series A round and a new office in Houston.

The new Bayou City office is Applied Computing’s first in the United States and part of its North American expansion. The company is known for its Orbital AI platform, which is tailored for energy operations.

The funding round was led by Houston-based KBR Inc., with participation from San Francisco-based Databricks Ventures. KBR’s investment was first announced in March.

KBR and Applied Computing have also entered into a multi-year agreement to deliver exclusive AI products for the energy sector. KBR already has integrated Orbital into its INSITE 3.0 platform for energy projects, and is also using the product for ammonia production.

Applied Computing’s Orbital platform combines physics-grounded intelligence with models across chemical engineering, time-series forecasting and language, according to the company. The system analyzes sensor readings and can recognize a facility’s equipment constraints and operator activity. The platform can also allow technicians to run simulations of how a change to a facility could affect the rest of its operations.

According to TechCrunch, Applied Computing will use the $20 million to further explore projects and deployments with the energy sector, hire engineering and research positions, and continue to expand internationally, potentially into the Middle East.

The company is also working on deals with a major U.S. stream operator, TechCrunch reports. And Applied Computing shared on LinkedIn that it plans to announce its first partnership with a major European oil company in the coming weeks.

“Yesterday we showed Orbital live in deployments at our demo day at the Energy Institute in London,” Callum Adamson, CEO and co-founder of Applied Computing, posted on LinkedIn on July 16. “Today, we're announcing the capital to scale it globally as well as the launch of our new offices in Houston and Bangalore. In the weeks following, there will be more announcements on our progress, partnerships and deployments.”

The company opened its Bangalore offices in December.

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

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