Who's who in Houston energy transition: Top 5 interviews of 2024

year in review

Here were the top energy transition interviews on EnergyCapital — according to its readers. Photos courtesy

Editor's note: As the year comes to a close, EnergyCapital is looking back at the year's top stories in Houston energy transition. EnergyCapital launched specifically to cover the energy transition community — and that includes the people who power it. Throughout the year, we spoke to these individuals and some resonated more than others to readers. Be sure to click through to read the full interviews or stream the podcast episode.

David Pruner, executive director of the Texas Entrepreneurship Exchange for Energy (TEX-E)

David Pruner, executive director of TEX-E, joins the Houston Innovator Podcast. Photo via LinkedIn

David Pruner is laser focused on the future workforce for the energy industry as executive director of the Texas Entrepreneurship Exchange for Energy, known as TEX-E, a nonprofit housed out of Greentown Labs that was established to support energy transition innovation at Texas universities.

TEX-E launched in 2022 in collaboration with Greentown Labs, MIT’s Martin Trust Center for Entrepreneurship, and five university partners — Rice University, Texas A&M University, Prairie View A&M University, University of Houston, and The University of Texas at Austin.

Pruner was officially named to his role earlier this year, but he's been working behind the scenes for months now getting to know the organization and already expanding its opportunities from students across the state at the five institutions. Read more.

Barbara Burger, mentor and adviser

Houston energy leader Barbara Burger joins the Houston Innovators Podcast to discuss the energy transition's biggest challenges and her key takeaways from CERAWeek. Photo courtesy of CERAWeek

Last month, Barbara Burger participated in four panels at CERAWeek by S&P Global, and from her insider perspective, she had a few key takeaways from the event, which brought together energy leaders, tech startups, dignitaries, civil servants, and more.

In a recent podcast interview, Burger shared some of her key takeaways from the event — and how these trends are affecting the industry as a whole. Read through an excerpt or stream the full episode below. Read more.

Tyler Lancaster, partner at Energize Capital

Tyler Lancaster, a Chicago-based investor with Energize Capital, shares his investment thesis and why Houston-based Amperon caught his eye. Photo courtesy of Energize Capital

One of the biggest challenges to the energy transition is finding the funds to fuel it. Tyler Lancaster, partner at Energize Capital, is playing a role in that.

Energize Capital, based in Chicago, is focused on disruptive software technology key to decarbonization. One of the firm's portfolio companies is Amperon, which raised $20 million last fall.

In an interview with EnergyCapital, Lancaster shares what he's focused on and why Amperon caught Energize Capital's attention. Read more.

Teresa Thomas, vice chair and national sector leader for energy and chemicals at Deloitte

Teresa Thomas, newly named vice chair and national sector leader for energy and chemicals at Deloitte, shares her vision in an interview. Photo via LinkedIn

Deloitte is undergoing a leadership shift — and this evolution for the nearly 200-year-old company directly affects its Houston office and the energy transition line of business.

Earlier this month, Teresa Thomas was named vice chair and national sector leader for energy and chemicals at Deloitte. Based in Houston, she will also serve as an advisory partner and leader in Deloitte & Touche LLP's Risk & Financial Advisory energy and chemicals practice. She succeeds Amy Chronis, partner at Deloitte LLP, who will continue to serve within the energy and chemicals practice until her retirement in June 2024.

In an interview with EnergyCapital, Thomas shares a bit about what she plans on focusing as she takes on her new role. Read more.

Sarah Jewett, vice president of strategy at Fervo Energy

Sarah Jewett, vice president of strategy at Fervo Energy, shares how Fervo has been able to leverage proven oil and gas technologies, such as horizontal drilling, and more, to pave the way toward a low-carbon energy future. Photo via HETI

Houston-based Fervo Energy, the leader in enhanced geothermal technology, is accelerating decarbonization by bringing 24/7 carbon-free electricity to the grid.

Fervo’s mission is to leverage geoscience innovations to accelerate the world’s transition to sustainable energy. Fervo continues to demonstrate the commercial viability and scalability of enhanced geothermal energy, which uses breakthrough techniques to harness heat from the earth and generate continuous electricity.

Sarah Jewett, VP of Strategy at Fervo, shared more about how Fervo has been able to leverage proven oil and gas technologies, such as horizontal drilling, well stimulation, and fiber-optic sensing, to pave the way toward a low-carbon energy future. Read more.

Tyler Lancaster, a Chicago-based investor with Energize Capital, shares his investment thesis and why Houston-based Amperon caught his eye. Photo courtesy of Energize Capital

Investor on Texas as a climatetech hub, disruption opportunities with the grid, and more

Q&A

One of the biggest challenges to the energy transition is finding the funds to fuel it. Tyler Lancaster, partner at Energize Capital, is playing a role in that.

Energize Capital, based in Chicago, is focused on disruptive software technology key to decarbonization. One of the firm's portfolio companies is Amperon, which raised $20 million last fall.

In an interview with EnergyCapital, Lancaster shares what he's focused on and why Amperon caught Energize Capital's attention.

EnergyCapital: Energize Capital has been investing in climate tech for the better part of a decade now. What types of companies are you looking for and how are these companies’ technologies affecting the greater energy transition?

Tyler Lancaster: We partner with best-in-class innovators to accelerate the sustainability transition. This means identifying climate technology companies at various stages of maturity — from early commercialization to approaching the public markets — that we can help scale and realize their full potential. We invest in software-first climate technology businesses, with a focus on asset-light digital solutions that can help scale sustainable innovation and enable the new energy economy. Our portfolio currently drives software applications across renewable energy, industrial operations, electrification & mobility, infrastructure resilience, and decarbonization. We primarily focus on proven, commercially available and economically viable energy transition solutions (solar, wind, batteries, heat pumps, etc.). These solutions suffer from challenges related to efficient deployment or operations, where enabling digital platforms can play a key role in optimizing costs.

EC: Amperon is one of Energize Capital's portfolio companies. What made the company a great investment opportunity for Energize Capital?

TL: Accelerating the energy transition will require critical forecasting tools like what Amperon provides. This is underscored by the escalating impact of extreme weather events, increasing penetration of variable energy resources, like wind and solar, on the supply side, and surging demand growth driven by flexible loads and rapid electrification. We believe the need for Amperon’s platform will only continue to grow, and their increased raise from Series A to Series B showed they are scaling smartly. We’ve also known Sean Kelly, Abe Stanway, and the entire Amperon team for a long time, and building strong relationships with founders is how we like to do business. Amperon has built a blue-chip customer base in the energy sector in a very capital efficient manner, which is more important than ever for startups operating in the current equity market environment.

EC: One of the energy transition’s biggest problems is sourcing and storing reliable and affordable energy. What have you observed are the biggest problems with Texas’ electricity grid and what types of new tech can help improve these issues?

TL: Today’s electricity grid and the demands we’re putting on it look very different than they ever have. Major changes in climate and extreme weather show how perilous and unreliable the power grids in this country are, particularly in regions like Texas that don’t have the right infrastructure to shield grids from unusual temperatures — just look at the damage done by 2021’s historic Winter Storm Uri. And consumer demand for electricity is increasing as electrification accelerates globally. The makeup of the grid itself is shifting from centralized power plants to distributed clean energy assets like solar arrays and wind turbines, which brings issues of intermittent electricity production and no traditional way to forecast that.

Tech solutions like Amperon are the only way to navigate the nuances of the energy transition. With global net-zero goals and impending Scope II accounting, Amperon’s expertise in granular data management further enables companies to build accurate, dynamic forecasting models with smart meter data and get more visibility into anticipated market shifts so they can optimize their energy use — all of which helps to create a more resilient and reliable power grid.

EC: You are also on the board of the company, which recently announced a collaboration with Microsoft’s tech. What doors does this open for Amperon?

TL: Partnering with Microsoft and offering its energy demand forecasting solution on the Azure platform enables Amperon to better serve more companies that are navigating the energy transition and a rapidly evolving grid. Many power sector companies are also undergoing cloud migrations with Microsoft Azure having high market share. This partnership will specifically accelerate Amperon’s reach with utility customers, who typically have slower sales cycles but can greatly benefit from improved accuracy in energy demand forecasting and adoption of AI technologies.

EC: As a non-Texas investor, how do you see Houston and Texas-based companies’ investability? Has it changed over the years?

TL: While most tech startups are concentrated on the coasts and in Europe, we see Texas emerging as a hub for energy and climate focused startups due to its vicinity to energy giants, which represent potential customers. Texas leads the country in renewable energy production and sits at the forefront of the transition. Energy companies based in this region are relying on technology innovation and software tools to modernize operations and meet the evolving demands of their customers.

———

This conversation has been edited for brevity and clarity.

Energy tech platform Amperon raised $20 million. Photo via Amperon.co

Houston-based, AI-powered electricity analytics company raises $20M series B

funds secured

A Houston startup has raised $20 million in its latest round of funding in order to accelerate its energy analytics and grid decarbonization technology.

Amperon Holdings Inc. announced today that it closed its series B round at $20 million. Energize Capital led the round and the D. E. Shaw group, Veriten, and HSBC Asset Management, an existing investor, joined in on the round. Additionally, two of Amperon's early customers, Ørsted and another strategic utility partner, participated in the series B, which brought Amperon’s total funding to $30 million.

The fresh funding will support the company in evolving its platform that conducts electricity demand forecasting to a comprehensive data analytics solution. Amperon's solution has an opportunity to really impact the industry's "increasingly turbulent power grids worldwide" among climate change and rapid adoption of variable energy resources, like wind and solar, the company explains in a news release about its raise.

“The energy transition is creating unprecedented market volatility, and Amperon is uniquely positioned to help market participants better navigate the transitioning grid – both in the U.S. and as we expand globally,” Sean Kelly, CEO and co-founder of Amperon, says in the release. “We've already established ourselves as the premier provider of electricity demand forecasting software. With this funding, we are poised to leverage our cutting-edge AI models to enable customers to unlock more value from data and asset optimization, spanning from on-site solar to commercial load management with backup generation and microgrid deployment.”

With the round, Energize Capital Partner Tyler Lancaster joins the Amperon board of directors.

“Today’s electricity grid is facing uniquely modern challenges as we work to rapidly transform our energy assets and decarbonize our economy,” he says in the release. “To facilitate the energy transition – a multitrillion-dollar market opportunity — we need more software tools custom-built to handle the complexities of our evolving energy markets.

"Amperon’s AI-powered analytics platform is exactly that, providing the accuracy and sophistication necessary for energy players across the value chain to manage their energy use and streamline our collective pathway to net-zero," he continues. "After getting to know Sean and the Amperon team since inception, Energize is thrilled to officially partner with them as a lead investor in this funding.”

In the past two years, Amperon reports that it grew revenue by five times, as well as quadrupled its team. The company was founded in 2017 and raised its $7 million series A last year.

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Woodlands-based company signs deal to develop 200 MW battery storage project

power deal

The Woodlands-based Plus Power announced this month that it has entered into a 20-year energy storage agreement with Tennessee Valley Authority (TVA), one of the largest public energy providers in the U.S.

Through the agreement, Plus Power and TVA will develop the Crawfish Creek Energy Storage project, a 200-megawatt / 800-megawatt-hour utility-scale battery energy storage facility in Jackson County, Alabama.

Construction on Crawfish Creek Energy Storage is expected to begin in 2028, and commercial operation is planned for the summer of 2029. The project will store electricity when demand is low and release it during peak periods, helping improve grid reliability, affordability, and energy security, according to a news release.

"Battery storage is essential to protecting the reliable, affordable electricity our region depends on to power next-generation technologies," Monika Beckner, TVA vice president, power supply & fuels, said in the release. "Projects like Crawfish Creek strengthen the Valley's energy security, improve our ability to manage extreme conditions, and help unleash American energy."

TVA selected Plus Power for the project in 2025 via a request for proposal to supply new capacity resources needed across the region. Plus Power currently owns and operates nine facilities that provide enhanced power reliability to Arizona, Hawaii, Maine, Massachusetts and Texas, totaling 1,650 megawatts/4,150 megawatt-hours. With this deal, Plus Power is entering its seventh state market and expanding into the Southeast.

"Plus Power is proud to support energy resilience in Jackson County and the Tennessee Valley, a key region for America's military, aerospace, and nuclear innovation," Brian Duncan, chief commercial officer at Plus Power, said in a news release. "Battery energy storage systems are flexible and millisecond-fast, making Crawfish Creek uniquely suited to meet the region's evolving needs. We are excited to partner with TVA to deliver a resource that supports economic expansion while strengthening American energy dominance and security.”

Profit for Houston-based oil companies declined in Q1, but only on paper

Money Matters

Profit for the two largest oil companies in the U.S. tumbled during the first quarter, a three-month period in which the price of crude and gasoline rocketed higher. It's a setback on paper only, however, the result of financial hedges that backfired after the U.S. and Israel launched attacks on Iran in late February.

Exxon Mobil and Chevron reported quarterly results on Friday, May 1, with adjusted profits for both companies topping Wall Street expectations. The shares of both companies, up sharply this week, ticked higher before the opening bell.

With energy prices depressed at the start of the year, Exxon Mobil and Chevron had arranged hedges to offset volatility, a standard practice in the industry. Companies and investors through hedges lock in a price in advance to protect themselves from futures swings. That can provide them with some predictability on costs.

In the aftermath of an attack by the U.S. and Israel on Iran, however, the physical delivery of oil became impossible with the Strait of Hormuz essentially closed. Exxon and Chevron cannot book gains on those hedges until the crude is physically delivered.

The near closure of the Strait of Hormuz off the coast of Iran is a flashpoint in the war and the source of much of the economic pain being felt globally. About 20% of the world’s oil passes through the strait on a typical day, but the passage has been choked off since the war began in late February.

Exxon earned $4.18 billion, or $1 per share, for the period ended March 31. A year earlier it earned $7.7 billion, or $1.76 per share. The company lost almost $4 billion in the quarter on what it called “unfavorable estimated timing effects” of its hedges.

Removing such one-time impacts, Exxon earned $1.16 per share, 9 cents better than Wall Street projections, according to a survey by Zacks Investment Research predicted. Exxon does not adjust its reported results based on one-time events such as asset sales.

Revenue totaled $85.14 billion, breezing past Wall Street's expectation of $81.49 billion.

First-quarter net production was 4.6 million oil-equivalent barrels per day. That’s down from 5 million oil-equivalent barrels per day in the previous quarter.

“If you look at the unprecedented disruption in the world’s supply of oil and natural gas, the market hasn’t seen the full impact of that yet," CEO Darren Woods said during a conference call. "So there’s more to come if the strait remains closed, why haven’t we seen those impacts manifest themselves fully in the market yet? Well, I think we all know there was a lot of water and a lot of oil in transit on the water, a lot of inventory on the water.”

Chevron reported a first-quarter profit of $2.21 billion, or $1.11 per share. It earned $3.5 billion, or $2 per share, a year earlier.

The company said that its quarter included a $360 million net loss related to a legal reserve and that foreign currency effects lowered earnings by $223 million.

Chevron's adjusted profit was $1.41 per share, easily beating the 92 cents per share Wall Street was calling for. Like Exxon, Chevron does not adjust its reported results based on one-time events such as asset sales.

The company's revenue totaled $48.61 billion, also better than expected.

Exxon and Chevron are among the big drillers reporting earnings this week. On Tuesday BP said that its first-quarter profit more than doubled.

The oil companies' results come at a time when gasoline prices in the U.S. hit new multiyear highs, a point of increasing agitation for travelers, households and also businesses that are particularly sensitive to higher energy prices.

The average price of gasoline in the U.S. hit $4.39 on Friday, according to motor club AAA, up more than 8% this week.

Inflation in the U.S. rose sharply in March, fueled by the largest jump in gas prices in six decades, according to data from the U.S. Department of Labor. The surge in gas prices has squeezed the budgets of lower- and middle-income families, making it more difficult to pay for necessities.

But it’s disrupting businesses as well, particularly those sensitive to higher fuel costs. Airlines worldwide have begun canceling flights as the war in the Middle East strains jet fuel supplies and pushes up ticket prices.

Oil prices eased on May 1, helping to steady the relatively few stock markets open worldwide on the May Day holiday.

6+ must-attend Houston energy transition events for May 2026

Mark Your Calendars

Editor's note: May is starting off strong with two of the month's largest events beginning on Monday, May 4: Enverus Evolve Conference and OTC. Mark your calendars and begin registering now.

May 4-6, 2026 — Enverus Evolve Conference

Staying ahead of the curve in the energy sector is critical. This conference is designed to equip energy leaders with foresight in the energy market, providing cutting-edge technological know-how, sessions and networking opportunities industry leaders, and offering practical guidance on how to apply technology to solve big problems.

This event begins May 4 at Marriott Marquis, Downtown Houston. Register here.

May 4-7, 2026 — OTC 2026

The world’s largest offshore energy technology event returns to Houston beginning May 4. Dr. Mohamed Irfaan Ali, president of the Co-operative Republic of Guyana, will officially open the 2026 Offshore Technology Conference, delivering the Opening Address on May 4. This year's event will be cover the theme of "Steering Offshore Energy Innovation into the Future," emphasizes the pivotal role oil and gas, along with other emerging offshore energy sources, will play in shaping a sustainable and energy-secure future.

This event begins May 4 NRG Park. Register here.

May 14, 2026 — Gulf Coast ASSP Energy Corridor Section Meeting

At this lunchtime session, Chris Garza will speak on “Demystifying Regulatory Frameworks.” This session provides a comprehensive overview of key regulatory requirements concerning air quality, water discharge, and land management. Attendees will gain actionable insights into permits, reporting obligations, pollution prevention planning, and hazardous waste management. This session demystifies regulatory frameworks and empowers businesses to meet their legal responsibilities while promoting a culture of environmental stewardship. Attendees are welcome to stay for lunch and networking after the session.

This event takes place May 14 at 960 Memorial City Way. Register here.

May 16, 2026 — Energy Valuation Conference

ASA Houston's 16th annual EVC brings together energy valuation professionals and industry thought leaders to present timely educational valuation topics, with a focus on valuation impacts in the transition of power generation from fossil fuel to non-carbon, renewables, sustainable energy

This event takes place May 16 at The Briar Club, and there will be a live webcast. Register here.

May 18-19, 2026 — Geothermal Transition Summit North America

This two-day summit serves as the meeting point for the geothermal and oil and gas industries and will focus on geothermal energy, including scaling plants and navigating state regulations. The event promises 40 expert speakers, 15 exhibition spaces, and networking opportunities with 250 industry decision makers.

This event begins May 18 at Norris Conference Center. Register here.

May 20-21, 2026 — ESF North America

ESF North America returns for its 5th edition, under the theme of “innovation and adaptation.” Attendees will explore how technology, innovation, and collaboration can drive a resilient, competitive refining and chemicals industry.

This event begins May 20 at The Westin Oaks Houston at the Galleria. Register here.

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