Houston energy tech founder envisions enhanced clean energy marketplace

Q&A

The conversation with Jason Beck of ZettaWatts offers a glimpse into the exciting world of energy transition.

For Jason Beck, a cleaner future is personal. That's why his company, ZettaWatts, is making clean energy more affordable and available.

In this Energy Tech Startups episode, we dive deep into the world of energy transition technologies with Beck from ZettaWatts. Jason shares his unique perspective on the evolving energy landscape, the importance of climate journeys, and the innovative solutions ZettaWatts is bringing to the table.

The conversation with Beck offers a glimpse into the exciting world of energy transition. As we move towards a more sustainable future, it's essential to stay informed and engaged with the latest developments in the sector.

Energy Tech Startups: What is ZettaWatts' primary mission in the energy transition landscape?

Jason Beck: ZettaWatts is deeply committed to enabling energy transition technologies to reach the market and improve their financial viability. The company's primary goal is to bridge the gap between groundbreaking technologies and the financial structures that support them. By doing so, they hope to accelerate the adoption of sustainable energy solutions.

ETS: You mentioned the importance of individual "climate journeys." Can you elaborate on this concept?

JB: Absolutely. A climate journey refers to an individual's evolving understanding and commitment to sustainability and climate action. It's a personal path that often starts with a growing awareness of environmental issues and culminates in concrete actions to address them. My own journey began with a realization of the pressing need for collective action against climate change. It's essential for everyone to embark on their climate journey, as it fosters a sense of responsibility and drives impactful change.

ETS: Houston is emerging as a hub for energy transition. What makes the city stand out in this regard?

JB: Houston's energy ecosystem is vibrant and diverse. Historically known for its oil and gas industry, the city is now embracing renewable energy and sustainable solutions. This shift is evident in the increasing number of startups, research institutions, and established companies focusing on green energy in the region. The collaborative spirit and wealth of resources make Houston an ideal place for companies like ZettaWatts to thrive.

ETS: How does ZettaWatts differentiate itself as a market maker in the energy sector?

JB: Unlike traditional bilateral markets, ZettaWatts operates as a market maker by aggregating demand and supply. This unique approach allows for instant diversification, reducing risks for both buyers and sellers. By acting as a central hub, ZettaWatts can efficiently match renewable energy projects with interested investors, streamlining the process and ensuring optimal outcomes for all parties involved.

ETS: Decarbonization by 2050 is a significant goal. How do you see renewable energy playing a role in achieving this target?

JB: Renewable energy is pivotal in addressing the carbon problem. To achieve decarbonization by 2050, we need a comprehensive plan, and renewable energy sources like wind, solar, and hydro play a crucial role in this roadmap. I highly recommend the book "Speed and Scale" as it provides a master plan for this ambitious goal. With the right strategies and collective effort, I believe we can create a sustainable future.

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This conversation has been edited for brevity and clarity. Click here to listen to the full episode.

Hosted by Jason Ethier and Nada Ahmed, the Digital Wildcatters’ podcast, Energy Tech Startups, delves into Houston's pivotal role in the energy transition, spotlighting entrepreneurs and industry leaders shaping a low-carbon future. Digital Wildcatters is a Houston-based media platform and podcast network, which is home to the Energy Tech Startups podcast.

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Solar manufacturer expands Houston footprint with new 4 GW factory

coming soon

Houston-based SEG Solar plans to open a new 4-gigawatt solar module manufacturing facility in Cypress.

The facility represents more than a $200 million investment and will raise SEG's total annual U.S. module production capacity to approximately 6 gigawatts, according to a new release. The expansion is part of SEG’s long-term goal of becoming one of the largest 100 percent U.S.-owned module manufacturers.

The new 500,000-square-foot facility will be located on Telge Road and is expected to create 800 new jobs, according to reports.

“This new facility marks an important milestone for SEG,” Timothy Johnson, VP of operations, said in the release. “It will further strengthen our U.S. manufacturing capabilities while supporting ongoing technology innovation. The plant is designed with the flexibility to integrate next-generation technologies, including (heterojunction solar technology) as the industry evolves.”

Commercial operations at the new facility are expected to commence in Q3 2026.

SEG is also developing a 5-gigawatt ingot and wafer manufacturing facility in Indonesia. Construction on the facility is expected to begin in Q2 2026.

In 2024, SEG Solar opened a new $60 million, 250,000-square-foot facility in Houston to house its production workshops, raw material warehouses, administrative offices, finished goods warehouses and supporting infrastructure. Read more here.

Fervo Energy bumps up IPO target to $1.82B

IPO update

Houston-based geothermal power company Fervo Energy is now eyeing an IPO that would raise $1.75 billion to $1.82 billion, up from the previous target of $1.33 billion.

In paperwork filed Monday, May 11 with the U.S. Securities and Exchange Commission, Fervo says it plans to sell 70 million shares of Class A common stock at $25 to $26 per share.

In addition, Fervo expects to grant underwriters 30-day options to buy up to 8.33 million additional shares of Class A common stock. This could raise nearly $200 million.

When it announced the IPO on May 4, Fervo aimed to sell 55.56 million shares at $21 to $24 per share, which would have raised $1.17 billion to $1.33 billion. The initial valuation target was $6.5 billion.

A date for the IPO hasn’t been scheduled. Fervo’s stock will be listed on Nasdaq under the ticker symbol FRVO.

Fervo, founded in 2017, has attracted about $1.5 billion in funding from investors such as Bill Gates-founded Breakthrough Energy Ventures, Google, Mitsubishi Heavy Industries, Devon Energy (which is moving its headquarters to Houston), Tesla co-founder JB Straubel, CalSTRS, Liberty Mutual Investments, AllianceBernstein, JPMorgan, Bank of America and Sumitomo Mitsui Trust Bank.

Fervo’s marquee project is Cape Station in Beaver County, Utah, the world’s largest EGS (enhanced geothermal system) project. The first phase will deliver 100 megawatts of baseload clean power, with the second phase adding another 400 megawatts. The site can accommodate 2 gigawatts of geothermal energy. Fervo holds more than 595,000 leased acres for potential expansion.

Cape Station has secured power purchase agreements for the entire 500-megawatt capacity. Customers include Houston-based Shell Energy North America and Southern California Edison.

Modular nuclear reactor company opens office in Houston

new to hou

The nuclear energy renaissance continues in Texas with an announcement by NuScale Power. The Oregon-based provider of proprietary and innovative advanced small modular reactor (SMR) nuclear technology announced in April it would be opening office space in Houston’s CityCentre.

“Opening this space in Houston underscores our commitment to meeting rising energy demand with safe, scalable nuclear technology,” John Hopkins, NuScale president and CEO, said in a news release. “This move expands our presence in a key market for partners, prospective customers, and stakeholders in addition to positioning us for the future as we focus on the near-term deployment of our industry-leading technology. Texas is leading the way in embracing advanced nuclear for grid resilience and industrial decarbonization, and we’re proud to expand our footprint and capabilities in this important region.”

Interest in nuclear power has been growing in recent years thanks to tensions with oil-rich nations, concerns about man-made climate change from fossil fuels, and the rapidly increasing power needs of data centers. Both Dow and Texas A&M University have announced expanded nuclear power projects in the last year, with an eye of changing the face of Texas’s energy industry through smaller, safer fission reactors.

Enter NuScale, founded in 2007 from technology developed at the University of Oregon. Their modular SMR technology generates 77 megawatts and is one of the only small modular reactors (SMR) to receive design approval from the U.S. Nuclear Regulatory Commission (NRC). These advances have led to runaway success for NuScale, whose stock has risen by more than 1,670 percent since the start of 2024.

The new operations campus in CityCentre is expected to facilitate the movement, installation and coordination of NuScale technology into the various energy systems. Typically, SMRs are used for off-grid installations, desalination operations, mining facilities and similar areas that lack infrastructure. However, the modularity means that they can be easily deployed to a variety of areas.

It comes none too soon. ERCOT projects that Texas data centers alone will require 77,965 megawatts by 2030.

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