Austin-based Base Power has opened an office and warehouse in Katy. Photo via basepowercompany.com.

Editor's note: Summer is sizzling in the energy transition sector, with a big investment for Base Power and the acquisition of Houston-based Zupt. Plus, an Alabama-based renewables company relocates to Houston. Below are the five most-read EnergyCapitalHTX stories published between July 30-August 13, 2026:

1. Texas battery startup Base Power hits $13B valuation with $1B raise

Base Power, an Austin-based residential power provider with a Houston office, has raised $1 billion in a Series D round, bringing the startup’s valuation to $13 billion. Ribbit, Addition, Valor Equity Partners, and JPMorganChase’s Strategic Investment Group led the round, with participation from Altimeter, D1 Capital Partners, Sands Capital, Coatue, Layer Global, and Energy Impact Partners. Existing investors also added to the round, including Thrive Capital, a16z, Lightspeed, Trust Ventures, and CapitalG. Base Power, which provides residential battery backup systems that automatically turn on during outages and sells electricity to homeowners, says the funding will go toward hiring more people and expanding nationally. Continue reading.

2. Houston subsea firm Zupt acquired in offshore tech deal

Houston-based Zupt LLC, a provider of advanced metrology, inspection, and engineering services for offshore energy and renewable projects, has been acquired by Columbus, Ohio-based Rosenxt Holding USA for an undisclosed amount. Rosenxt says the deal, which closed July 21, represents another step in its long-term strategy to build a portfolio of technology and engineering capabilities for the subsea market in the energy sector. Continue reading.

3. Alabama-based renewable fuels company to move HQ to Houston

An Alabama-based clean tech company is moving its headquarters to Houston. Alléo Energy announced that it will move its headquarters from Bay Minette, Alabama, to Houston's Ion District. The company develops carbon-negative fuels and renewable commodities through its conversion technology that turns wood waste and cellulosic feedstocks into high-energy, high-yield syngas. Continue reading.

4. Houston geothermal startup adds former BP, Calpine execs to C-suite

XGS Energy, a Houston-based developer of geothermal power systems, has added several energy industry veterans to its C-suite this summer. The company named Al Vickers as its new chief operating officer earlier this month. Vickers will replace Ghazal Izadi in the role, as she moves into the chief growth officer position. Vickers previously served as CEO of bp's U.S. Low Carbon Energy business and most recently was COO of Houston-based Grid United, which develops next-generation transmission infrastructure. Continue reading.

5. Woodlands-based Lancium teams up on West Texas data center campus

The Woodlands-based Lancium Technologies, which designs, develops, and manages gigawatt-scale data center campuses, has teamed up with Denver-based data center builder and operator Crusoe Energy Systems on a new grid-connected campus more than 100 miles east of Wichita Falls. Construction on the 1-gigawatt Childress County campus, being built for an unidentified tech company, is expected to start in Q3 of this year. Continue reading.

SLB's OneSubsea will provide seawater injection systems to boost recovery and cut emissions at Petrobras' Búzios field. Photo courtesy of SLB

SLB awarded Petrobras contract for subsea seawater injection systems in Brazil

JV deal

Houston energy technology company SLB announced a contract award by Petrobras to its OneSubsea joint venture for two subsea raw seawater injection systems to increase recovery from the prolific Búzios field in offshore Brazil.

The subsea RWI systems will work to increase the production of floating production storage and offloading (Petrobras FPSO) vessels that are currently bottlenecked in their water injection capacities.The RWI systems, once operational, can reduce greenhouse gas emissions per barrel of oil.

“As deepwater basins mature, we see more and more secondary recovery opportunities emerging,” Mads Hjelmeland, CEO of SLB OneSubsea, says in a news release. “Subsea raw seawater injection is a well-proven application with a strong business case that we think should become mainstream. By placing the system directly on the seabed, we free up space and reduce fuel needs for the FPSOs as well as lessen the power needs for the injection systems. It’s a win-win for Petrobras, and one that we are very excited about.”

SLB OneSubsea works to “optimize oil and gas production, decarbonize subsea operations, and unlock the large potential of subsea solutions to accelerate the energy transition,” per to the company.

SLB OneSubsea is contracted to provide two complete subsea RWI systems to support Petrobras’ FPSOs P-74 and P-75. They will consist of a subsea seawater injection pump, umbilical system and topside variable speed drive. In addition,the team will also provide technical support using AI-enabled Subsea Live services, which includes condition monitoring and access to domain experts.

“This contract will consolidate our solid local content presence in the country, contributed by the largest manufacturing plants and state-of-the-art subsea service facilities in Brazil,” Hjelmeland continues.

Ad Placement 300x100
Ad Placement 300x600

CultureMap Emails are Awesome

Rice University spinouts named among 50 top cleantech companies to watch

green team

Two Rice University spinouts, Coflux Purification and DexMat, appear on a new list of the world’s 50 cleantech companies to watch.

Cleantech Group’s 2026 Cleantech 50 to Watch list recognizes early-stage companies “creating groundbreaking solutions to address some of the world’s most pressing environmental and sustainability challenges.”

Cleantech Group, a market research, consulting, and events company, selects the 50 honorees based on insights from analysts and early-stage innovators, along with public nominations.

Destroying “forever chemicals”

Coflux, founded in 2024, offers an onsite treatment system that captures and destroys manufactured “forever chemicals”—per- and polyfluoroalkyl substances—in water and wastewater. It’s a member of Greentown Houston.

Alec Ajnsztajn, CEO; Jeremy Daum, chief technology officer; and Dana Vazquez, chief commercial officer, co-founded Coflux. Ajnsztajn and Daum earned doctoral degrees from Rice, and Vazquez earned an MBA from the university.

Coflux spun out of Rice labs directed by professors Rafael Verduzco and Pulickel Ajayan.

Last year, Coflux received a $175,000 grant from the U.S. Food and Drug Administration’s National Institute of Food and Agriculture. The startup has also raised more than $500,000 in non-dilutive funding, including $80,000 awarded in 2024 by Rice’s One Small Step Grant program.

Promoting an alternative to copper

DexMat, founded in 2015, produces carbon nanotube products such as fibers, yarns, cables, and fabric. The company’s products address demand for materials that can reduce carbon emissions, according to CB Insights.

Its main product, Galvorn, is a copper alternative made of carbon nanotube fibers. CB Insights says Galvorn is engineered to be lighter and stronger than traditional conductive materials like carbon and steel. It’s used in industries such as energy, aerospace, defense, automotive, consumer electronics, and health care.

DexMat emerged from Matteo Pasquali’s Carbon Lab at Rice. Pasquali, co-founder of DexMat, co-invented the company’s technology with the late Nobel Prize-winning chemist Rick Smalley. Smalley was a professor of chemistry, physics, and astronomy at Rice.

Pasquali is a professor of chemical and biomolecular engineering, chemistry, materials science, and nanoengineering at Rice. He co-founded DexMat with Rice graduate Dmitri Tsentalovich, the company’s director of product innovation.

Earlier this year, DexMat raised $5 million in seed funding from Non Sibi Ventures, Governance Partners, Tailwind Futures, BetterWay, Capital Factory, and other investors. The company also secured $3 million in non-dilutive funding.

In 2023, DexMat raised $3 million in a pre-seed round led by Shell Ventures.

TotalEnergies expands solar joint venture with $1.2B portfolio in Texas, Ohio

solar expansion

TotalEnergies, a French company whose U.S. headquarters is in Houston, announced this month that it is expanding its renewable energy joint venture with New York-based investment firm KKR by adding 700 megawatts of utility-scale solar projects.

The deal will add three utility-scale solar assets in Texas and Ohio, which are expected to reach commercial operation by Q1 2027, according to a news release from the company. The portfolio is valued at $1.2 billion.

The 50/50 joint venture between TotalEnergies and KKR currently holds 1.4 gigawatts of renewable energy and will grow to 2.1 gigawatts.

The new deal is expected to close this year. Once completed, TotalEnergies will operate the assets. The electricity generated from the solar projects will be sold to third parties, the company reports.

The companies originally formed the joint venture about a year ago when TotalEnergies sold KKR a 50 percent stake in a North American solar portfolio valued at $1.25 billion. The deal originally included six utility-scale solar assets, primarily located in the U.S.

“TotalEnergies is a renewable energy industry leader globally, and we are thrilled to establish this joint venture with the TotalEnergies team to support their renewables business," Cecilio Velasco, managing director KKR, said in a release last year. “We have long been investors in renewables through our infrastructure platform, having committed more than $23 billion to date in energy transition investments. TotalEnergies’ North American solar portfolio is a great fit for us, representing high-quality renewable energy assets with long term contracts.”

TotalEnergies reports that by June 2026 it held more than 37 gigawatts of gross renewable power generation capacity. It aims to achieve over 100 terawatt-hours of net electricity production by 2030.

The company signed a major power purchase agreement with Google earlier this year. Through the deal, TotalEnergies will supply the tech giant with 1 gigawatt of solar power for its data centers in Texas over a 15-year span.

However, the company also recently redirected nearly $1 billion in capital away from wind energy projects and "decided to renounce offshore wind development in the United States." Read more here.