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 $1.8 billion deal, corporate partnerships, and more.
Houston renewable energy storage developer secures $1.8B in financing
Five of Plus Power's projects received financing from nearly a dozen financial partners. Photo courtesy of Plus Power
A Houston company that develops standalone battery energy storage systems has reportedly secured $1.8 billion in new financing for a handful of ongoing projects — most of which are in Texas.
"Over the last year, Plus Power has raised an unparalleled amount of capital for standalone storage projects from a wide range of leading energy project finance banks and investors," Josh Goldstein, CFO of Plus Power, says in a news release. "This capital will support the ongoing buildout of the largest and most diverse portfolio of standalone storage projects in the U.S. The scale highlights our first-mover advantage in bringing high-quality projects to market as well as the tremendous work by our fantastic team." Read more.
Houston university to lead new NSF-back flooding study
A Rice University study will consider how "design strategies aimed at improving civic engagement in stormwater infrastructure could help reduce catastrophic flooding." Photo via Getty Images
Houston will be the setting of a new three-year National Science Foundation-funded study that focuses on a phenomenon the city is quite familiar with: flooding.
Conducted by Rice University, the study will consider how "design strategies aimed at improving civic engagement in stormwater infrastructure could help reduce catastrophic flooding," according to a statement.
The team will begin its research in the Trinity/Houston Gardens neighborhood and will implement field research, participatory design work and hydrological impact analyses. Read more.
Houston-based sustainable chemicals company secures major partnership with Sasol
Solugen and Sasol have entered into a strategic partnership. Photo via Solugen
A Houston company that's creating cleaner chemicals with little to no impact on the environment has scored a partnership with a major chemicals producer.
Solugen and Sasol Chemicals, a business unit of Saslo Ltd., revealed that they are working together to explore commercialization of sustainably-made home and personal care products.
“This agreement is an example of our approach of partnering to find innovative solutions for our customers,” Jonathan Ward, senior manager of Strategy and Sustainable Growth for Sasol’s Essential Care Chemicals business division, says in a news release. Read more.
Global hydrogen company makes U.S. entrance through Houston-area facility acquisition
A French hydrogen company has expanded to the United States by way of the Houston area. Photo via johncockerill.com
A French electrolyzer manufacturer has acquired a facility in Baytown, expanding to North America for the first time.
John Cockerill Hydrogen announced today that its acquired a manufacturing space south of Houston that will be retrofitted to become one of the largest alkaline manufacturing facilities in the country. It's slated to deliver as early as the third quarter of next year.
“We are excited for the US launch, the first step in our partnership journey with North American businesses and stakeholders who seek to decarbonize and advance the energy transition,” François Michel, CEO of John Cockerill Group, says in a news release. Read more.
Texas climate accelerator names Houston company to latest cohort
SeisWave specializes in cost-effective, cloud-based seismic data processing. Photo via Getty Images
An Austin-based climate accelerator announced its 2023 cohort, which includes a Houston cleantech startup.
StudioX named seven startups to its 2023 cohort, and SeisWave Corp., a seismic service company, will join the program that aims to help the world reach net-zero targets by 2050. The group comprises Studio X's third cohort since the company launched in 2020.
SeisWave specializes in cost-effective, cloud-based seismic data processing. Read more.