EnCap is ready to deploy growth capital to advance the energy transition. Photo via Getty Images

A Houston-based energy transition-focused growth capital firm announced the close of its second fund to the tune of $1.5 billion.

EnCap Energy Transition's Fund II, or EETF II, was created to invest in solutions to decarbonize the power industry, and invest in low carbon fuels and carbon management.This second energy transition fund follows EnCap Energy Transition Fund I, a $1.2 billion fund that deployed capital to seven material portfolio company investments and four fund realizations with Broad Reach Power, Jupiter Power, Triple Oak, and Paloma Solar & Wind.

Previously, the company made investment commitments to five portfolio companies through EETF II, including Bildmore Renewables, Linea Energy, Parliament Solar, Power Transitions, and Arbor Renewable Gas. With the Bildmore arm, the EnCap fund aims to fuel development of renewable energy projects that can’t attract traditional tax equity financing.

EnCap expects to have 8-10 portfolio companies in EETF II in total.

"The EnCap Energy Transition team is proud to have raised a sizeable pool of capital to continue to invest in the opportunity created by the shift to a lower-carbon energy system,” EnCap Energy Transition Managing Partner Jim Hughes says in a news release.

“We greatly appreciate the strong support from our existing investor base and are pleased to have added a number of new, high-quality investors, both domestically and internationally," he continues. "Since our inception in 2019, we now manage approximately $2.7 billion of capital commitments to invest in decarbonization and are excited for the opportunities ahead of us."

Recently, EnCap was part of a deal in the battery energy storage business carrying an equity value of more than $1 billion. Engie purchased the majority of a startup . Broad Reach’s battery storage business from EnCap Energy Transition Fund I. Broad Reach launched in 2019 with backing from EnCap.

“We continue to believe all sources of energy are needed to support the world’s growing energy needs and that our Energy Transition Team will build off the significant success achieved to date,” said EnCap Managing Partner Jason DeLorenzo in a news release.

Bildmore expects to invest in 10 to 15 third-party, utility-scale clean energy projects each year. Photo via Getty Images

New platform launches in Houston to invest in clean energy endeavors

eyes on energy transition

Houston-based EnCap Energy Transition Fund has launched a platform that will take minority equity stakes in battery storage systems, solar energy systems, and other energy transition projects in the U.S.

With its new Bildmore arm, the EnCap fund aims to fuel development of renewable energy projects that can’t attract traditional tax equity financing. Bildmore expects to invest in 10 to 15 third-party, utility-scale clean energy projects each year.

Bildmore seeks to capitalize on clean energy incentives tucked into the federal Inflation Reduction Act of 2022, including the ability of projects to sell tax credits. Specifically, the platform says it hopes to address “a chronic short supply” of tax equity deals due to heightened demand triggered by the inflation reduction law.

EnCap is no stranger to utility-scale solar power and battery storage systems. The fund backs Houston-based Broad Reach Power and Austin-based Jupiter Power, two of the largest players in the U.S. market for battery storage.

David Haug leads Bildmore as its CEO. He is co-founder and senior managing director of Houston-based Arctas Capital Group, which invests in energy infrastructure projects.

“Bildmore will focus on … battery storage and solar projects, particularly those which have chosen to leave all or part of their energy output available for ‘merchant’ sale rather than be sold under long-term contracts,” Haug says in a news release. “We want to help those development teams lacking the deep balance sheets typically required by tax equity providers.”

EnCap Investments, sponsor of the EnCap Energy Transition Fund, manages capital from more than 350 U.S. and international investors. Since its founding in 2019, EnCap Investments has raised 25 institutional investment funds totaling about $41 billion to support independent energy businesses in the U.S.

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This article originally ran on InnovationMap.

The city's top power players within Houston's energy innovation ecosystem joined virtual SXSW to weigh in on hot topics — from ESG to the future of the industry's workforce. Photos courtesy

Overheard: Houston innovators discuss ESG, energy transition, cleantech and more at SXSW

Eavesdropping online

The first day of SXSW 2021 — a virtual edition of the Austin-based conference — is on the books, and Houston innovators were no strangers to attendees' screens thanks to Houston House put on by the Greater Houston Partnership.

Day one of the two days of programming focused on all things energy — power storage, corporate venture, ESG, the future of the workforce, and so much more — with interviews hosted by me, Natalie Harms, editor of InnovationMap. Missed out on the fun? Catch up with a few overheard moments from Houston House or stream the full interviews below.

“Successful entrepreneurs are critical for re-investing in the community, and we’re trying to nurture that base now.” — Kirk Coburn, investment director at Shell Ventures

Video courtesy of the Greater Houston Partnership

What are the roles of energy corporations when it comes to innovation development? And what else does a successful innovation ecosystem need? At a virtual SXSW Houston House panel, panelists Kirk Coburn, investment director of Shell Ventures, and Bill Collins, founder and CEO of LO3 Energy, discuss the role of corporate innovation and venture support and the future of energy security. Click here to watch the full interview.

“If we’re going to improve performance in the energy industry, we are going to have to work better together and collaborate together.” — Al Carnrite, president and CEO of Carnrite Group

Video courtesy of the Greater Houston Partnership

Environmental, social, and governance, aka ESG, has the power to disrupt the energy transition and has already made a huge impact on energy company's short- and long-term goals. At a virtual SXSW Houston House panel, Andrew Bruce, founder and CEO, of Data Gumbo, and Al Carnrite, president and CEO of Carnrite Group discuss the emergence of ESG and how it's affecting the global energy transition. Click here to watch the full interview.

“While Houston remains the energy capital of the world, Houston is much, much more than oil and gas. Innovators in Houston are leading the charge towards creating a lower carbon future.” — Mayor Sylvester Turner

Video courtesy of the Greater Houston Partnership

How's business in Houston? At a virtual SXSW Houston House HOU Talk, Mayor Sylvester Turner gives an update on how the innovation ecosystem has developed over his tenure. Click here to watch the full interview.

"Houston is a renewable energy capital that no one knows about — in addition to being the energy capital.” — Emily Reichert, CEO at Greentown Labs

Video courtesy of the Greater Houston Partnership

In order to maintain its role as the energy capital of the world, Houston needs to advance its role in clean energy innovation. Greentown Labs, which is opening its new Houston facility in just a matter of months, will help move that needle locally. At a virtual SXSW Houston House HOU Talk, Emily Reichert, CEO of Greentown Labs, shares how Greentown Houston will act as a convener and a place to spark cleantech innovation. Click here to watch the full interview.

“We think material science is the new tech boom. And Houston is the place to be for it.” — Mike Francis, CEO and co-founder of NanoTech

Video courtesy of the Greater Houston Partnership

Houston's no stranger to engineering and physical science. Over the past several decades, the city has accumulated major hard tech businesses and talent within oil and gas. Now, it's time to lean on that infrastructure to allow for a hard tech and material science revolution. At a virtual SXSW Houston House panel, Dale Winger, managing director at Halliburton Labs, and Mike Francis, CEO and co-founder of Nanotech, discuss how materials science plays a major role in advancing the energy transition. Click here to watch the full interview.

“This isn’t your daddy’s oil patch. This is an opportunity where we can really leverage the people we have in the city to drive us forward.” — Katie Mehnert, founder and CEO of Ally

Video courtesy of the Greater Houston Partnership

What does the future of the energy workforce look like? For one, it looks way different from decades past. At a virtual SXSW Houston House HOU Talk, Katie Mehnert, founder and CEO of ALLY, weighs in on how diversity — racial, gendered, and even generational — is extremely key moving the industry forward. Click here to watch the full interview.

“We are seeing now this inflection point where there is this next build out of utility. Texas in particular is a great proving ground.” — Doug Moorehead, managing partner and CTO of Broad Reach Power

Video courtesy of the Greater Houston Partnership

On the heels of the state's worst winter storm power outage, the energy and power industries are rethinking weatherization and power storage for the future. At a virtual SXSW Houston House HOU Talk, Doug Moorehead, managing partner and CTO of Broad Reach Power, discusses the future of energy storage and how profoundly important it is toward preventing another winter storm power outage like Texas experienced in February. Click here to watch the full interview.

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10+ can't-miss Houston business and innovation events for September

where to be

The energy transition and AI will be the talk of this town this month, thanks to a packed calendar of Houston events. September brings the return of Houston Energy and Climate Startup Week and some of its signature anchor events, plus AI conferences and talks exploring how the technology is impacting everything from healthcare to leadership. Here’s what not to miss and how to register. Please note: this article may be updated to add more events.


Sept. 3 — Entrepreneurship Roundtable with Open

Open Houston and the Ion present this roundtable event to bring together founders, builders, and innovators at various stages of venture development. This month's session will feature Faisal Bhutto, president and CEO of Houston-based AI and tech consulting firm Alykas.

This event is Thursday, Sept. 3, from 10-11:30 a.m. at the Ion. An optional lunch ticket is available for purchase. Register here.

Sept. 3 — AI Operator Spotlight: Houston’s Top AI Leaders Open Their Playbooks

The Houston AI Club, Allenix, the Ion District and Collide are bringing together industry leaders to share their expertise and first-hand experiences building AI companies. The event will feature a panel with Chuck Yates, co-founder of Collide, and Charles Jessup, senior manager of AI fluency at Raytheon, plus an open networking session.

This event is Thursday, Sept. 3, from 5:30-8 p.m. at the Ion. Register here.

Sept. 8 — The Technology Leadership Advantage Series – For CEOs, VCs and PE Firms

Ram Prasad, CEO of Houston-based IT consulting firm Delence, will explore the role of leadership in turning AI investments into business value during the latest installment of this series at the Ion. The event will explore why AI strategies often fail before the technology does and how companies should approach AI ownership, governance, investment and accountability.

This event is Tuesday, Sept. 8, from noon-1 p.m. at the Ion. Register here.

Sept. 14–18 — Houston Energy and Climate Startup Week

Houston Energy and Climate Startup Week returns for its third year, with panels, happy hours and pitch days focused on the energy transition. See the schedule of events here. The week will begin with a kickoff block party and open house at the Ion.

This event starts Monday, Sept. 14. The Ion District will host many of the week's events. Find more information here.

Sept. 15 — Meet the Activate Houston Cohort 2026 Fellows

Meet Activate's latest cohort, which was named this summer, and learn more about their hardtech and climate-focused solutions. Also meet founders from the organization’s 2025 cohort during Houston Energy and Climate Startup Week.

This event is Tuesday, Sept. 15, from 5-7 p.m. at the Ion. Register here.

Sept. 15 – Cypher Pilotathon and Startup Showcase

Grab coffee and take in keynotes and panels featuring leaders from Amperon, Aramco Ventures, New Climate Ventures, Syzygy Plasmonics and many others during this signature event, this year under the theme “The NEW Energy Industrial Revolution.” After lunch, hear pitches from 31 ventures during the Pilotathon. This year's event will also feature a startup showcase with interactive booths where attendees can meet founders and see demonstrations, plus an industry hub where corporates and investors can engage with emerging technologies and identify the pilots they want to move forward with.

This event is Tuesday, Sept. 15, from 9 a.m.-5 p.m. at POST Houston. Get tickets here.

Sept. 15-17 — The AI in Health Conference

Rice University's Ken Kennedy Institute will present this future-focused event, aimed at bridging the gap between artificial intelligence and real-world health outcomes. The event will feature panels with leaders from institutions and companies from around the world, plus technical talks, poster presentations and networking receptions.

This event begins Tuesday, Sept. 15 at 8 a.m. at the BRC at Rice University. Register here.

Sept. 16 — Greentown Labs Climatech Summit

Entrepreneurs, investors, corporate leaders, policymakers and philanthropists will head to Houston this month for the annual Greentown Climatetech Summit. Hear from Greentown CEO Georgina Campbell Flatter and keynote speaker Tim Latimer, CEO and co-founder of Houston geothermal unicorn Fervo Energy, plus numerous other engaging panels at the Ion. Then head to Greentown Labs for an open house and startup showcase, where attendees can meet some of the climatech incubators' members, before taking in the startup pitch competition followed by happy hour over at the Continental Club.

This event is Wednesday, Sept. 16, from 8 a.m.–9 p.m. at multiple locations. Register here.

Sept. 18 — Rice Alliance Energy Tech Venture Forum

Hear from clean energy startups from around the world at the 23rd annual Energy Tech Venture Forum. In addition to the pitches, this event will also host keynotes from Sean Maher, chief economist at Phillips 66, and Ira Ehrenpreis, founder and managing partner of DBL Partner. Panels will focus on technologies, infrastructure and commercialization strategies needed to deploy breakthrough innovations at scale. Following the event, the Rice Alliance will also name its annual “Most Promising” startup.

This event is Thursday, Sept. 17, from 7:30 a.m.-5 p.m. at Rice University’s Jones Graduate School of Business. Register here.

Sept. 23 – Houston Methodist Innovation Discussion

Houston Methodist presents its latest Innovation Discussion this month for the Houston health IT community. This month's event will feature Dr. Jordan Dale, chief medical information officer and chief health AI officer at Houston Methodist, and Ginny Torno, executive director of innovation and IT clinical, ancillary and research systems for Houston Methodist. The two will share insights into Houston Methodist’s innovation strategy and approach to scaling new ideas, plus real-world lessons on AI adoption and more.

This event is Wednesday, Sept. 23, from 5:30-7 p.m. at the Ion. Register here.

Sept. 23 — UH Energy Career Fair

Find your next job or team member at UH's energy-focused career fair. The event will feature companies from the fossil fuels, electrical power, nuclear power and renewables industries; plus nonprofits, governmental agencies and startups. And though the event is geared toward business, engineering, technology and science majors, it is open to students of all majors.

This event is Wednesday, Sept. 23, from 11 a.m.-2 p.m. at the UH Student Center. Find more information here.

Sept. 30 — First Principles Tech Talk: From Orbit to the Lunar Surface

Head to the Ion for the first-ever First Principles Tech Talk. This event will feature short talks and moderated discussions geared toward founders, engineers and operators in the commercial space industry. The inaugural event will feature Megan Ortiz and Zach Paugh from Houston-based Axiom Space.

This event is Wednesday, Sept. 30, from 5-7 p.m. at the Ion. Register here.

Momentum is where Houston founders go to break $1 million — apply by Sept. 30

Inside EO

Houston loves a startup story. The harder story, the one that decides whether a company becomes an employer, a brand, and a fixture of the city, is what happens after the start. Most businesses that survive their early years still never cross $1 million in revenue. Fewer than 5 percent ever do. The rest get stuck in the messy middle, somewhere between $250,000 and $1 million, where the owner is still the salesperson, the product, and the back office all at once, and nothing runs without them.

Momentum, the accelerator run by EO Houston, exists for exactly that stage. It is a yearly accelerator for owners and co-founders between $250,000 and $1 million in revenue who are ready to push past seven figures, built around eight months of classes a year and a confidential monthly Forum. Members are invited to go through it for two years: the first pass to build the systems, the second to run them at a higher level, with a new lens and alongside a new cohort.

The next cohort launches in October, with applications open now at eohouston.com/momentum until September 30. Here is the case the chapter makes for joining, point by point.

A curriculum built by operators, not consultants

Momentum's curriculum was built by two operators. Al Danto, an EO Houston founding member who built and exited his own company, is now a Partner at Exit Advisors and a Senior Lecturer in Entrepreneurship at Rice University. He built the curriculum alongside Jacky Fischer, the owner of Houston's 3 Men Movers, who brought a working owner's eye, not an academic one, to how the program is structured. The material covers what actually decides whether a company scales: building systems, hiring and leading a team, and turning an annual vision into 90-day commitments with clear owners.

“Everything in this curriculum got tested inside a real company, either mine or one run by the people who shaped it. If a tool did not survive contact with a real business, it did not make the cut," Danto says.

Momentum is an independent program of EO Houston and requires no university affiliation; faculty and alumni participate as instructors and coaches in their individual capacities. What carries over is the standard: real experience over theory.

EO Houston Momentum classroom A Momentum class in session. Photo courtesy of EO Houston

Entrepreneurs teaching entrepreneurs since 1987

Momentum works because of what sits behind it. The Entrepreneurs' Organization was founded in 1987 on a simple idea: business owners grow fastest alongside peers who have already been where they are going. Today, EO is a global, peer-to-peer network spanning 200+ chapters in over 80 countries, and it runs on a practice called Forum, a small, confidential group of six to 10 fellow owners who meet monthly. Forum members do not give advice. They share experience: what actually happened when they faced the same hire, the same cash crunch, the same decision. Ask EO members anywhere in the world and most will call Forum the single most valuable thing they belong to. Every Momentum member sits in one.

Built for scaling small businesses, not launching startups

Houston's accelerator landscape mostly serves the very early stage: the idea, the pitch deck, the startup swinging for a billion-dollar outcome. Momentum sits in the gap those programs leave behind. It is built for regular companies that are already real, with revenue, payroll, and customers, and an owner who needs help scaling what works into a business that matures. That focus is the point: EO Houston is the place a small business goes to get help growing.

The price is different too. Accelerators usually charge in ownership, a stake in the company in exchange for the program. Momentum takes none. EO Houston is a nonprofit, and the program runs on dues of $3,500 for the year. The outcome the chapter is after is simple: more Houston businesses crossing $1 million, still fully owned by the people who built them.

An on-ramp into Houston's most established founder community

EO Houston counts more than 200 member businesses, every one run by an owner who has already scaled past $1 million, with 75+ chapter events a year. Momentum members plug into that community from day one: the classes, their own Forum, the annual gala, the retreats, the socials. Two years around people who have already done the thing you are trying to do changes what you believe is normal. And when a Momentum member crosses $1 million, the on-ramp becomes a doorway: graduates step into EO Houston membership itself and the global network behind it. The program's full story and curriculum live at eomomentum.com.

Avneesh Oberoi, founder of Oberoi Investments and The DoughCone, walked that path, finishing the program and joining EO Houston in July 2026.

“I truly can say that the experience for the last two years has been life-changing and so memorable… I am also so filled with gratitude to have met so many people open to sharing their experiences and time. It’s made such a difference in how I think, operate, and spend my time and resources," Oberoi says. "I joined with the goal of taking my business I started personally, The DoughCone, and figuring out how to optimize the business and maximize revenue, while navigating a board seat and ownership in a much larger family business on its third generation of ownership… and EO has given me so many tools and experience shares and perspectives I’ve been able to take to both businesses. The growth has been unreal.”

The door swings both ways. EO Houston is opening Momentum to its own members too, owners whose companies average $3 million to $5 million in sales, because the chapter believes the same curriculum and Forum that carry a founder to $1 million keep working well past it.

Sarah Seitz shows how the pieces connect. A former teacher, she founded The Enrichery, a Houston education company offering academic coaching, test prep, and college counseling that has grown to locations across the city. She completed the Goldman Sachs 10,000 Small Businesses program, then joined EO Houston to keep growing. This year, a year after joining, The Enrichery made the Inc. 5000 list of America's fastest-growing private companies. She coached Momentum through its first year, and has since moved from coaching into leadership, helping shape the program's growth from its board.

For owners finishing a program like 10,000 Small Businesses who are not yet at $1 million, Momentum is where the coaching and community continue until they qualify for EO.

Apply by September 30

Momentum's next cohort begins in October 2026, and applications close September 30. The program is for owners and co-founders of Houston businesses doing more than $250,000 a year who are ready to build past $1 million, and now for EO Houston members ready to keep growing. The full curriculum, dues, dates, and FAQ are on the application page. Apply by September 30 at eohouston.com/momentum.

Fewer than 5 percent of businesses make it past $1 million, and there is nothing inevitable about which 5 percent. Houston has the founders. Momentum exists to give them the systems and the peers.

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EO Houston is the Houston chapter of the Entrepreneurs' Organization, a global peer-to-peer network of business owners founded in 1987, with more than 200 member businesses and 75+ chapter events a year. Momentum is an independent program of EO Houston. Rice University faculty and alumni participate as instructors and coaches in their individual capacities.