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TotalEnergies powers up its largest utility-scale solar farms in Texas

ready to shine

TotalEnergies has started up two new solar farms in Texas. Photo by Red Zeppelin/Pexels

TotalEnergies has begun the commercial operations of two utility-scale solar farms with integrated battery storage located in southeast Texas.

The two farms are located in Cottonwood and Danish Fields, which is TotalEnergies’ largest solar farm in the United States.

“The start-ups of Danish Fields and Cottonwood in the fast-growing ERCOT market showcase TotalEnergies’ ability to deliver competitive renewable electricity to support our clients’ decarbonization goals, as well as our own,” Olivier Jouny, senior vice president of renewables at TotalEnergies, says in a news release.

The new projects have a combined capacity of 1.2 gigawatts. They are part of a portfolio of renewable assets totaling 4 gigawatts in operation or under construction currently in Texas. Danish Fields holds a capacity of 720 megawatts peak and 1.4 million ground-mounted photovoltaic panels.

Cottonwood, with a capacity of 455 megawatts peak featuring over 847,000 ground-mounted photovoltaic panels, will also feature 225 megawatt hours of battery storage supplied by Saft. This is scheduled for commissioning in 2025. The electricity production is contracted under long-term PPAs indexed to “merchant prices through an upside-sharing mechanism with LyondellBasell and Saint-Gobain,” per thenews release. The deal is to help support the companies’ decarbonization efforts.

Seventy percent of Danish’s solar capacity has been contracted through long-term Corporate Power Purchase Agreements signed with Saint-Gobain, which feature an upside sharing mechanism indexed on merchant price. The other 30 percent is intended to support the decarbonization of TotalEnergies’ industrial plants in the Gulf Coast region. The projects will cover the electricity consumption of TotalEnergies’ industrial sites in Port Arthur and La Porte in Texas, and Carville in Louisiana, which include Myrtle Solar that was commissioned in 2023 and the under-construction Hill 1 solar farm.

In addition to the solar farms, TotalEnergies has also added 1.5 gigawatt of flexible power production capacity with three gas-fired power plants they acquired in Texas.

“Thanks to these projects, we are delighted to take another step in delivering our strategy across the entire value chain, from power generation to customer delivery, in order to achieve our profitability target of 12 (percent return on average capital employed) in our Integrated Power business,” Jouny adds in the release.

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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.

The nonprofit climatetech incubator with locations in Houston and Somerville, Massachusetts, has a roster of over 80 corporates that provide funding, pilot opportunities, mentorship, and more. Photo via GreentownLabs.com

Greentown Labs names newest corporate partners

supporting startups

Greentown Labs has accumulated several new corporate partners in the past year.

The nonprofit climatetech incubator with locations in Houston and Somerville, Massachusetts, has a roster of over 80 corporates that provide funding, pilot opportunities, mentorship, and more.

In March, Ecopetrol joined Greentown as a Terawatt Partner, the highest level partner for the incubator. The company, which the Colombian government holds a majority ownership stake in, has integrated business across the hydrocarbon value chain, as well as low emission solutions and energy transmission. The company followed TotalEnergies, which joined at the Terawatt level, in January, and GE Vernova, a global energy company, which was announced as a partner in November.

Greentown's other new Terrawatt Partners include sustainable building solutions company Holcim and Boston Consulting Group, which helped the organization enhance its strategy for the future.

"As part of the partnership, BCG guided Greentown through a mission, vision, and strategy refresh aimed at maximizing the nonprofit incubator’s impact over the next several years," reads the Greentown Labs news release.

These are the other new additions to Greentown's corporate roster at the other levels:

  • Cell Signaling Technology (Gigawatt Partner), a life science company founded, owned, and led by active research scientists
  • SLB (Gigawatt Partner), a global technology company focused on innovating oil and gas, delivering digital at scale, decarbonizing industries, and developing and scaling new energy systems that accelerate the energy transition
  • Embraer-X (Megawatt Partner), the disruptive innovation company of Embraer, the world’s third-largest aircraft manufacturer
  • Koppers (Megawatt Partner), an integrated global provider of treated-wood products, wood-treatment chemicals, and carbon compounds
  • Re:Build Manufacturing (Megawatt Partner), a family of design, engineering, and manufacturing businesses across the United States whose combined experience creates an industrial powerhouse greater than the sum of its parts
The partnership initially will focus on subsurface technology for reservoir engineering, as well as geoscience modeling and interpretation. Photo via totalenergies.com

SLB, TotalEnergies team up on 10-year partnership to develop scalable digital solutions

here's the deal

Houston-based energy tech company SLB has forged a 10-year partnership with French energy company TotalEnergies to develop technology aimed at tackling industry challenges such as carbon capture, utilization, and sequestration (CCUS).

“Collaboration and knowledge sharing are key for our industry to continuously develop more effective ways of unlocking energy access,” Rakesh Jaggi, president of SLB’s digital and integration business, says in a news release. “With this visionary partnership, we’re combining the know-how and expertise of both companies to accelerate the delivery of new digital capabilities that will benefit the whole industry.”

The partnership initially will focus on subsurface technology for reservoir engineering, as well as geoscience modeling and interpretation. The subsurface project will feature traditional technology coupled with artificial intelligence (AI).

Namita Shah, president of TotalEnergies’ OneTech business unit, says technology developed with SLB will help the oil and gas sector reduce emissions and dive deeper into geological carbon storage. TotalEnergies’ U.S. headquarters is in Houston.

“Through this digital partnership,” Shah says, “we will develop cutting-edge next-generation software, digital applications, and new algorithms applied to geoscience.”

One day after the digital partnership was announced, SLB said TotalEnergies had awarded a contract to SLB’s OneSubsea joint venture for a 13-well oil project being developed off the shore of Angola by TotalEnergies and two partners. Financial terms weren’t disclosed.

Initial production for the estimated $6 billion deepwater Kaminho project is targeted for 2028, generating up to 70,000 barrels of oil per day. TotalEnergies holds a 40 percent stake in Kaminho.

TotalEnergies owns a number of assets in Texas, including a refinery in Port Arthur. The refinery can produce about 200,000 barrels of oil per day along with low-sulfur fuels.

Here's the latest global energy company to sign onto Greentown Labs. Photo via GreentownLabs.com

Greentown Labs names Colombia-owned energy co. as latest top-tier industry partner

looking south

Greentown Labs has named its latest partner, opening a door to Colombia and South America.

Ecopetrol has joined Greentown as its newest Terawatt Partner, the highest level partner for the incubator. The company, which the Colombian government holds a majority ownership stake in, has integrated business across the hydrocarbon value chain, as well as low emission solutions and energy transmission.

"Accelerating the energy transition and fostering climate action is only possible through innovation, entrepreneurship, and meaningful partnerships," Ecopetrol's Chief Innovation Officer Agostinho João Ramalho Almeida says in a news release. "At Grupo Ecopetrol, we believe in joint efforts, orchestration, and access to technology to push barriers and increase value for our business and sustainability agenda. Partnering with Greentown Labs and working alongside industry leaders is an amazing opportunity to tackle common goals and challenges."

The company has a presence in several other locales throughout South and North America, per the release.

With the new partnership, Ecopetrol will have access to the Greentown community and events. Laura Tobón Díaz, head of innovation ecosystems and strategic partnerships for Ecopetrol, will serve on Greentown's Industry Leadership Council.

"Greentown is excited to partner with Ecopetrol, an energy company taking meaningful action on climate in collaboration with the Colombian government," Greentown CEO and President Kevin Knobloch says in the release. "We look forward to seeing our startups' climate technologies advance Ecopetrol's decarbonization efforts, as well as Ecopetrol sharing its energy expertise, connections, and resources with our entrepreneurs."

Earlier this year, TotalEnergies joined the incubator at the Terawatt level, and before that, GE Vernova was the latest top-level partner, joining last fall.

Houston energy transition folks — here's what to know to start your week. Photo via Getty Images

Talos offloads low carbon subsidiary, events not to miss, plus more Houston energy things to know

take note

Editor's note: Dive headfirst into the new week with three quick things to catch up on in Houston's energy transition: a roundup of events not to miss, a really big deal, and more.

Big deal: Talos Energy sells off low carbon arm to TotalEnergies in $148M deal

One of the biggest energy transition deals from last week was Talos Energy selling off its subsidiary, Talos Low Carbon Solutions LLC, to TotalEnergies. The deal is for a purchase price of $125 million plus customary reimbursements, adjustments and retention of cash, which totals approximately $148 million.

Talos plans to use the proceeds from the sale to repay borrowings under its credit facility and for general corporate purposes. The sale includes Talos's entire carbon capture and sequestration business, which includes its three projects along the U.S. Gulf Coast with Bayou Bend CCS, Harvest Bend CCS, and Coastal Bend CCS. Read more.

Apply for the Rice Clean Energy Accelerator

The deadline to apply for the fourth cohort of the Rice Clean Energy Accelerator is Friday, March 29. Those interested in the nine-week program can learn more and apply online.

The program seeks to advance emerging ventures and entrepreneurs in the clean energy industry. CEA connects participants with industry leaders and investors.

With a focus on early-stage startups operating in the TRL range of 3 to 7, accepted companies gain access to a range of benefits, including mentorship and essential resources.

Events not to miss

Put these Houston-area energy-related events on your calendar.

  • DeCarb Connect supports senior leaders in decarbonization to accelerate strategy and decision making to reduce carbon emissions and reach net zero targets. The event is March 26 to 28 at Westin Houston Memorial City. Register.
  • On March 27, Greentown Houston is hosting "Accelerating Net-Zero Solutions: CCUS Innovation and Startup Showcase." Watch the Go Make 2023 cohort pitch their innovations in carbon utilization, storage, and traceability; hear about their work with Shell throughout the startup-corporate-partnerships accelerator; and learn from CCUS industry experts. Register.
  • The 3rd Annual Carbon Tracking and Reporting Conference begins next Wednesday in Houston. The event's matchmaking and networking app has been launched and registrants are viewing attendees and setting up meetings. Register.
  • On April 17, the University of Houston presents "Gulf Coast Hydrogen Ecosystem: Opportunities & Solutions" featuring experts from academia, industry, government, and more. The symposium begins at 8 am with a networking reception takes place beginning at 5 pm at the University of Houston Student Center South - Theater Room. Register.

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Fervo Energy selects Baker Hughes to provide supply geothermal tech for power plants

geothermal deal

Houston-based geothermal energy startup Fervo Energy has tapped Houston-based energy technology company Baker Hughes to supply geothermal equipment for five Fervo power plants in Utah.

The equipment will be installed at Fervo’s Cape Station geothermal power project near Milford, Utah. The project’s five second-phase, 60-megawatt plants will generate about 400 megawatts of clean energy for the grid.

Financial terms of the deal weren’t disclosed.

“Baker Hughes’ expertise and technology are ideal complements to the ongoing progress at Cape Station, which has been under construction and successfully meeting project milestones for almost two years,” says Tim Latimer, co-founder and CEO of Fervo. “Fervo designed Cape Station to be a flagship development that's scalable, repeatable, and a proof point that geothermal is ready to become a major source of reliable, carbon-free power in the U.S.”

Cape Station is permitted to deliver about two gigawatts of geothermal power. The first phase of the project will supply 100 megawatts of power to the grid beginning in 2026. The second phase is scheduled to come online by 2028.

“Geothermal power is one of several renewable energy sources expanding globally and proving to be a vital contributor to advancing sustainable energy development,” Baker Hughes Chairman and CEO Lorenzo Simonelli says. “By working with a leader like Fervo Energy and leveraging our comprehensive portfolio of technology solutions, we are supporting the scaling of lower-carbon power solutions that are integral to meet growing global energy demand.”

Founded in 2017, Fervo is now a unicorn, meaning its valuation as a private company has surpassed $1 billion. In March, Axios reported Fervo is targeting a $2 billion to $4 billion valuation in an IPO.

Over the course of eight years, Fervo has raised almost $1 billion in capital, including equity and debt financing. This summer, the company secured a $205.5 million round of capital.

Houston-area sustainable steel company emerges from stealth with $17M in VC funding

heavy metals

Conroe-based Hertha Metals, a producer of substantial steel, has hauled in more than $17 million in venture capital from Khosla Ventures, Breakthrough Energy Fellows, Pear VC, Clean Energy Ventures and other investors.

The money has been put toward the construction and the launch of its 1-metric-ton-per-day pilot plant in Conroe, where its breakthrough in steelmaking has been undergoing tests. The company uses a single-step process that it claims is cheaper, more energy-efficient and equally as scalable as conventional steelmaking methods. The plant is fueled by natural gas or hydrogen.

The company, founded in 2022, plans to break ground early next year on a new plant. The facility will be able to produce more than 9,000 metric tons of steel per year.

Hertha said in a news release that its process, which converts low-grade iron ore into molten steel or high-purity iron, “doesn’t just materially lower cost and energy use — it fundamentally expands our capacity to produce iron and steel at scale, by unlocking a wider range of iron ore feedstocks.”

Laureen Meroueh, founder and CEO of Hertha, says the company’s process will fill a gap in U.S. steel production.

“We’re not just reinventing steelmaking; we’re redefining what’s possible in materials, manufacturing, and national resilience,” Meroueh says.

Hertha says it’s in talks with magnet producers — which make permanent magnets and magnetic assemblies from raw materials such as iron — to become a U.S. supplier of high-purity iron. In its next stage of growth, Hertha will aim to operate at a capacity of 500,000 metric tons of steel production per year.

The company won the Department of Energy's Summer Energy Program for Innovation Clusters (EPIC) Startup Pitch Competition last summer. Read more here.

Houston foundation doles out $700K for Texas chemical research

fresh funding

Houston-based The Welch Foundation has issued $700,000 in additional funding to support chemical research through two of its newest grant programs.

The foundation has named the recipients of its Welch eXperimental (WelchX) Collaboration Retreat and Pilot Grants and the Welch Postdoctoral Fellows of the Life Sciences Research Foundation Grants.

The WelchX grants were awarded to teams of two Texas researchers who presented "innovative and collaborative ideas" addressing challenges in the clean energy space, according to the foundation.

Researchers from Texas universities gathered in Houston earlier this summer to discuss the theme “Chemical Research for Grand Challenges." They then paired off into nine teams and submitted proposals for the $100,000 pilot grants. The seven selected teams, several with ties to Houston, and their research topics include:

  • Yimo Han, Rice University, and Yuanyue Liu, The University of Texas at Austin, “Stabilizing Copper Electrocatalysts for CO2 Conversion”
  • Ognjen Miljanic, University of Houston, and Indrajit Srivastava, Texas Tech University, “Ping-Pong' Afterglow Luminescence in Self-Assembled Molecular Cubes”
  • Raúl Hernández Sánchez, Rice University, and Andy Thomas, Texas A&M University, “Accelerating Magnetic Resonance Imaging Contrast Agent Discovery via Rapid Injection NMR: Improving the Detection of Lithium for Disease Diagnostics”
  • Benjamin Janesko, Texas Christian University, and MD Masud Rana, Lamar University, “Cyber Twin Chemical Ensembles for Near-Infrared-Emitting Graphene Quantum Dot Therapeutics”
  • Ivan Korendovych, Baylor University, and Dino Villagrán, The University of Texas at El Paso, “Selective Bio-Inspired Electrochemical Probes for PFAS Analysis and Degradation”
  • Samantha Kristufek, Texas Tech University, and Kayla Green, Texas Christian University, “CIRCUIT: Critical Ion Recovery using Conductive and Ultrafiltration Intelligent Technology”
  • Fang Xu, The University of Texas at San Antonio, and Hong Wang, University of North Texas, “Visualize Molecular Adsorption on Supported Ni-porphyrin Model Catalysts via Substitute Effect”

The Welch Postdoctoral Fellows of the Life Sciences Research Foundation provides three-year fellowships to recent PhD graduates to support clinical research careers in Texas.

The foundation previously announced that it would name fellows from Rice University and Baylor University who would receive $100,000 annually for three years. This year's recipients and their research topics include:

  • Teng Yuan, Rice University, “Unlocking New Chemistry of Nonheme Iron Enzymes for α-Amino Acids and γ-Lactones Synthesis”
  • Katelyn Baumler, Baylor University, "Crystal Growth of Ln2Fe4Sb5 Phases Toward the Study of Novel Quantum Properties”

“As these programs become more established, it is thrilling to see the new research our awardees are exploring,” Adam Kuspa, president of The Welch Foundation, said in a news release. “The Foundation is very pleased by the applications that we continue to receive describing exciting new research projects to advance chemical research.”

This additional funding comes on the heels of the foundation doling out $27 million for chemical research, equipment and postdoctoral fellowships earlier this summer. The foundation made 85 grants to faculty at 16 Texas institutions at the time. Read more here.

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

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