M&A moves, innovative water co. expands, and more trending Houston energy transition news

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An innovative water production company has plans to create Houston-area plants — and more trending Houston energy transition news. Photo via skyh2o.com

Editor's note: It's been a busy news week for energy transition in Houston, and some of this week's headlines resonated with EnergyCapital readers on social media and daily newsletter. Trending news included a unique water-producing company expanding in Texas new deals and partnerships, and more.

Innovative California company taps Houston area for purified water projects

A California tech company is planning on rolling out a handful of atmospheric water generation projects near Houston. Photo via skyh2o.com

Houstonians are used to filtering their water, but few really ponder why they’re doing it.

“Most people, when they think about water stress, they think about water scarcity, like what you see happening in Northern Africa or maybe the Southern U.S.,” says Alexander von Welczeck, chairman, president and CEO of SkyH2O. “A bigger, creeping issue, particularly in the industrialized world, is water toxicity.”

Some Houston tap water contains “forever chemicals” that can be toxic, as some reports have found. In fact, says von Welczeck, water toxicity is a problem across the Gulf Coast. That’s why the California-based businessman has identified Houston as the first region to benefit from SkyH2O’s technology. Read more.

Houston company closes offshore JV deal to drive innovation, efficiency in subsea production

The new joint venture, OneSubsea, is based in Oslo, Norway, and Houston. Photo courtesy

A new joint venture with co-headquarters in Houston will explore opportunities in the market for subsea systems that tap into offshore energy reserves.

The business, called OneSubsea, is a joint venture of Houston-based energy technology company SLB (Schlumberger), Norwegian energy engineering company Aker Solutions, and Luxembourg-based energy engineering company Subsea7. SLB holds a 70 percent stake in OneSubsea, with Aker’s share at 20 percent and Subsea7’s share at 10 percent.

The financial foundation of the joint venture is a combination of $700.5 million in stock, cash, and a promissory note. In addition, SLB and Aker folded their subsea businesses into the joint venture, which was announced in 2022. Read more.

Clean tech co. with U.S. HQ selected for UAE carbon capture project

Carbon Clean develops carbon capture technology for customers such as cement producers, steelmakers, refineries, and waste-to-energy plants. Photo via Carbon Clean

Abu Dhabi National Oil Co. (ADNOC), the state-owned oil company of the United Arab Emirates, has chosen technology from United Kingdom-based company Carbon Clean for a carbon capture project in Abu Dhabi. Carbon Clean’s U.S. headquarters is in Houston.

Carbon Clean’s modular CycloneCC technology will be used for a carbon capture project at a Fertiglobe nitrogen fertilizer plant. Fertiglobe is a joint venture between ADNOC and OCI Global, a Netherlands-based chemical company.

“This project is hugely significant given it’s the first industrial deployment of our award-winning CycloneCC technology anywhere in the world,” says Aniruddha Sharma, chairman and CEO of Carbon Clean. “We are moving a step closer to achieving full commercialization of this modular solution, which will play a vital role in decarbonizing heavy industries and achieving net-zero targets.” Read more.

Houston carbon storage solutions company names new energy transition leader at pivotal time of growth

Graham Payne, the new director of energy transition at Caliche Development Partners II, is bullish on Houston. Photo courtesy

Graham Payne sees a bright future for the multibillion-dollar energy transition economy in Houston.

“It’s been said that Houston is poised, like no other city, to lead the energy transition. And I’d have to agree, because we have all the requisite natural resources, industry, and talent,” says Payne, the new director of energy transition at Houston-based carbon capture, utilization, and storage (CCUS) company Caliche Development Partners II.

Caliche and other Houston-based energy transition companies secured $6.1 billion in private funding last year, up 62 percent from 2022, according to the Greater Houston Partnership. Read more.

Airline fuels up for new flights from Houston to oil-and-gas country

It's wheels up to Midland-Odessa in January. Photo courtesy of JSX

Hop-on jet service JSX is adding a new, year-round destination for the millions of Texans who work in oil and gas: Midland-Odessa.

Starting January 15, 2024, JSX will fly nonstop from Houston and Dallas to Odessa Airport-Schlemeyer Field (ODT). Read more.

A California tech company is planning on rolling out a handful of atmospheric water generation projects near Houston. Photo via skyh2o.com

Innovative California company taps Houston area for purified water projects

PFA-free H2O

Houstonians are used to filtering their water, but few really ponder why they’re doing it.

The company will break ground on its first SkyH2O Station in the first quarter of 2024 in Dickinson, strategically placed between Houston and Galveston. That will be followed by another in Angleton. Eventually, says von Welczeck, there will be eight SkyH2O stations in the greater Houston area.

Von Welczek describes a SkyH2O Station as bearing a resemblance to “a big, modern gas station, but as opposed to gas, the primary product is fresh, healthy water.” With everything from charging stations for electric vehicles to a farmers market-style set-up of sustainable food, the stations will indeed be like a futuristic gas station.

Water will be distributed both in recyclable packaging for smaller businesses and homes, and in bulk to fill water tankers for ranches and other larger customers. Von Welczeck foresees, for example, Galveston cruise ships filling up with a supply of water at that station.

But where will this fresh, clean water come from? SkyH2O uses atmospheric water generation, or AWG, systems to pull humidity from the air and turn it into potable water. The higher the humidity, the more water can be produced.

“Obviously in and around Houston, we have tremendous humidity,” von Welczeck says.

This is all done using the Maximus 4260, the latest and greatest of the company’s AWG systems. The machine is rated to produce 10,500 litres of fresh, potable water a day. It produces net zero water, meaning that it doesn’t come from any existing water resource.

What comes out initially is a semi-distilled, purified water. The next step is further filtering it and adding minerals to make the product potable for customers. Von Welczeck says that SkyH2O’s water meets the Texas Commission on Environmental Quality’s water standards.

The serial entrepreneur has been working in the climate tech space since 2002 and has a proven track record. Von Welczeck says that he sold his company, Solar Power Partners, to NRG in 2010.

“From my perspective, most everything in climate technology, whether it's clean energy, recycling, even food and water, they're all interrelated,” he says.

After opening around 20 Texas locations, von Welczeck has his sights set on covering the entire Gulf Coast. After that, he hopes to expand to Mediterranean Europe, particularly water-strapped islands. He’s even in discussions with potential clients in the Middle East. But Houston will be the first to taste SkyH2O’s potentially globe-altering water.

Meet the new arrivals at Greentown Houston. Photo courtesy of Greentown Labs

9 startups join Houston climatech accelerator to tackle carbon capture, energy efficiency, and more

FRESH CROP

Greentown Labs closed out the second quarter with the addition of 17 startups, and just over half are collaborating with the Houston location.

The technology represented by the new additions span the industries of energy, agriculture, and manufacturing, with a focus on carbon capture, electrical usage efficiency, and resource accessibility.

Carbon capture

Two of the newest Houston members, Capture6 and C-Quester, are also part of the Carbon2Value Initiative, a global partnership between the Greentown Labs, Urban Future Lab in New York, and Fraunhofer, headquartered in Michigan. C2V focuses on accelerating technology solutions that capture carbon dioxide for conversion into value-adding products and services.

Similar to the way a sponge is moistened and later wrung out, C-Quester pulls CO2 from flue gas into a temperature-sensitive material that can be heated later to release carbon, making the storage and transport of CO2 easier to manage.

Capture6 uses CO2 pulled from the atmosphere through their Direct Air Capture technology in combination with water treatment methodologies to remove excess salinity from saltwater and brine, resulting in greater freshwater recovery, usable elements for a variety of industries, and carbonates transformed into mineralized form to prevent continued carbon emissions.

Energy efficiency

The Helix MICRA filters created by Helix Earth Technologies can remove CO2 from power plants and other pollutants commonly encountered in the shipping industry. The filtering technology, initially developed for NASA, also dehumidifies air conditioning systems for more efficient energy use.

H2PRO uses its water-splitting technology, E-TAC, to produce green hydrogen in a two-step process that requires less energy to perform than the more common process of electrolysis with improved safety aspects.

Steam production and distribution get an upgrade with Imperium Technologies, the first electromechanical solution that enables previously unseen systems monitoring for reduction in greenhouse gas emissions by 20%, on average.

With a keen focus on predictive insights, eologix deploys smart sensors to give operators advance warning of situations that could cause rotor imbalances to keep wind turbines – and the energy they produce – optimized.

Resource accessibility

NW NA supports the goals of stability, predictability, and accessibility of electric-powered vehicle use with its high-power EV-charging station, mobile electricity storage units, and renewable energy measurement and forecasting tool.

From the Metaversity under development, to its oil and gas line leak detection systems, Kauel goes all-in on AI for its clients, even helping children with kinesthetic rehabilitation through augmented and virtual reality programs.

Finally, SkyH2O brings fresh, clean water to areas with limited access to existing infrastructure or natural water resources for commercial, military, and industrial use.

Another eight startups join the cohort named above as members of the Greentown Labs Boston location: Capro-X, Carbon2Stone, Cottage, Dioxycle, enaDyne, Global Algae Innovations, Terrafixing, and Thola.

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Global energy startup competition returns to Houston this fall

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The Society of Petroleum Engineers' Annual Technical Conference and Exhibition (ATCE) takes place in Houston this fall, and with it comes its ATCE Startup Village Energy Startup Competition.

Held this year at the George R. Brown Convention Center on Oct. 21, the fast-paced pitch competition invites early stage, upstream technology ventures from around the world to present on their companies and technologies in front of venture capitalists, angel investors and industry leaders.

The deadline to apply for the competition is Friday, July 18. Apply here.

The ATCE Startup Village is a partnership between SPE and the Rice Alliance for Technology and Entrepreneurship. Ten primary finalists and two alternates are selected to participate in the competition, where they have the opportunity to win cash prizes and gain mentorship from industry leaders.

Finalists will present a seven-minute pitch, followed by an additional seven minutes of Q&A.

They will also have the opportunity to meet with a panel of industry experts during a private coaching session the week of Sept. 22. Winners will be announced at ATCE in Houston, and finalists and alternates will be notified in late August.

Judging is based on four main criteria:

Innovative technology
Commercial strategy and business plan
Market potential
Management team and advisors

The competition has awarded nearly $460,000 in prize money to startups through the competition to date, according to the ATCE's website. Past winners have come from Canada, France, the Netherlands, Brazil, Saudi Arabia and the United States.

Several Houston teams pitched at the 2024 competition during the 100th annual ATCE in New Orleans. The local teams included:

Decimetrix, led by CEO Alejandro Zotti, went on to win the Best in Show and People's Choice awards. Revolink Technology Company earned the Rising Star, or runner up, award.

Tesla announces annual meeting under pressure from shareholders

Tesla Talk

Tesla has scheduled an annual shareholder meeting for November, one day after it came under pressure from major shareholders to do so.

Billionaire Elon Musk's company said in a regulatory filing on Thursday that the meeting would be held Nov. 6, but that may prove troublesome because it comes nearly three months after it is required to do so under state law in Texas, where the company is incorporated.

The annual meeting, given Tesla's fortunes this year, has the potential to be a raucous event and it is unclear how investors will react to the delay, which is rare for any major U.S. corporation.

Tesla shares have plunged 27% this year, largely due to blowback over Musk's affiliation with President Donald Trump, as well as rising competition.

The announcement of the meeting comes a day after a group of more than 20 Tesla shareholders sent a letter to the company's board pressing for an annual meeting after receiving no word of one with the deadline just days away.

Many shareholders have been miffed by Musk's participation in the Trump administration this year, saying he needs to focus on his EV company which is facing extraordinary pressures.

“An annual meeting provides shareholders with the opportunity to hear directly from the board about these concerns, and to vote for or against directors, the board’s approach to executive compensation, and other matters of material importance,” the group said in the letter.

The group cited Texas law, which requires companies to schedule annual shareholders meetings within 13 months of the prior annual meeting.

Tesla’s last shareholders meeting was on June 13 of last year, where investors voted to restore Musk’s record $44.9 billion pay package that was thrown out by a Delaware judge earlier that year.

Also on Thursday, Musk that the Grok chatbot will be heading to Tesla vehicles.

“Grok is coming to Tesla vehicles very soon. Next week at the latest,” Musk said on social media platform X, in response to a post stating that Grok implementation on Teslas wasn't announced on a Grok livestream Wednesday.

Grok was developed by Musk’s artificial intelligence company xAI and pitched as an alternative to “woke AI” interactions from rival chatbots like Google’s Gemini, or OpenAI’s ChatGPT.

Shares of Tesla rose 3% at the opening bell after tumbling this week when the feud between Trump and Musk heated up again.

Greentown Labs names Lawson Gow as its new Houston leader

head of hou

Greentown Labs has named Lawson Gow as its Head of Houston.

Gow is the founder of The Cannon, a coworking space with seven locations in the Houston area, with additional partner spaces. He also recently served as managing partner at Houston-based investment and advisory firm Helium Capital. Gow is the son of David Gow, founder of Energy Capital's parent company, Gow Media.

According to Greentown, Gow will "enhance the founder experience, cultivate strategic partnerships, and accelerate climatetech solutions" in his new role.

“I couldn’t be more excited to join Greentown at this critical moment for the energy transition,” Gow said in a news release. “Greentown has a fantastic track record of supporting entrepreneurs in Houston, Boston, and beyond, and I am eager to keep advancing our mission in the energy transition capital of the world.”

Gow has also held analyst, strategy and advising roles since graduating from Rice University.

“We are thrilled to welcome Lawson to our leadership team,” Georgina Campbell Flatter, CEO of Greentown Labs, added in the release. “Lawson has spent his career building community and championing entrepreneurs, and we look forward to him deepening Greentown’s support of climate and energy startups as our Head of Houston.”

Gow is the latest addition to a series of new hires at Greentown Labs following a leadership shakeup.

Flatter was named as the organization's new CEO in February, replacing Kevin Dutt, Greentown’s interim CEO, who replaced Kevin Knobloch after he announced that he would step down in July 2024 after less than a year in the role.

Greentown also named Naheed Malik its new CFO in January.

Timmeko Moore Love was named the first Houston general manager and senior vice president of Greentown Labs. According to LinkedIn, she left the role in January.

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