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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UH breakthrough moves superconductivity closer to real-world use

Energy Breakthrough

University of Houston researchers have set a new benchmark in the field of superconductivity.

Researchers from the UH physics department and the Texas Center for Superconductivity (TcSUH) have broken the transition temperature record for superconductivity at ambient pressure. The accomplishment could lead to more efficient ways to generate, transmit and store energy, which researchers believe could improve power grids, medical technologies and energy systems by enabling electricity to flow without resistance, according to a release from UH.

To break the record, UH researchers achieved a transition temperature 151 Kelvin, which is the highest ever recorded at ambient pressure since the discovery of superconductivity in 1911.

The transition temperature represents the point just before a material becomes superconducting, where electricity can flow through it without resistance. Scientists have been working for decades to push transition temperature closer to room temperature, which would make superconducting technologies more practical and affordable.

Currently, most superconductors must be cooled to extremely low temperatures, making them more expensive and difficult to operate.

UH physicists Ching-Wu Chu and Liangzi Deng published the research in the Proceedings of the National Academy of Sciences earlier this month. It was funded by Intellectual Ventures and the state of Texas via TcSUH and other foundations. Chu, founding director and chief scientist at TcSUH, previously made the breakthrough discovery that the material YBCO reaches superconductivity at minus 93 K in 1987. This helped begin a global competition to develop high-temperature superconductors.

“Transmitting electricity in the grid loses about 8% of the electricity,” Chu, who’s also a professor of physics at UH and the paper’s senior author, said in a news release. “If we conserve that energy, that’s billions of dollars of savings and it also saves us lots of effort and reduces environmental impacts.”

Chu and his team used a technique known as pressure quenching, which has been adapted from techniques used to create diamonds. With pressure quenching, researchers first apply intense pressure to the material to enhance its superconducting properties and raise its transition temperature.

Next, researchers are targeting ambient-pressure, room-temperature superconductivity of around 300 K. In a companion PNAS paper, Chu and Deng point to pressure quenching as a promising approach to help bridge the gap between current results and that goal.

“Room-temperature superconductivity has been seen as a ‘holy grail’ by scientists for over a century,” Rohit Prasankumar, director of superconductivity research at Intellectual Ventures, said in the release. “The UH team’s result shows that this goal is closer than ever before. However, the distance between the new record set in this study and room temperature is still about 140 C. Closing this gap will require concerted, intentional efforts by the broader scientific community, including materials scientists, chemists, and engineers, as well as physicists.”

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This article originally appeared on EnergyCapitalHTX.com.

Rice University to lead AI conferences in Paris this spring and summer

where to be

Houston’s own Rice University will host a series of conferences on artificial intelligence in Paris, France, starting this month. The series will tackle the impact and possibilities of AI in fields like econometrics and online privacy security.

“Artificial intelligence is transforming the global economy and raising profound questions about how technology intersects with society,” Caroline Levander, Rice’s vice president for global strategy, said in a news release. “By convening scholars from multiple disciplines and countries in Paris, Rice is helping shape the international conversation about how AI should be developed, governed and used.”

The four conferences in Paris aim for a multi-disciplinary approach that tackles aspects of AI from diverging angles. The conferences come as part of Rice’s increased partnership with French researchers at the Université Paris Sciences & Lettres. The two institutions have formed a binary star system of academic sharing and support.

“Paris has quickly become one of the most important global hubs for artificial intelligence research, entrepreneurship and policy,” Levander said. “For Rice, having a presence in the city allows our scholars to engage directly with that ecosystem while building collaborations that connect Europe and the United States around the future of AI.”

The conferences will be held at the Rice Global Paris Center. Topics scheduled are:

Emerging Topics in Operations Management: Platforms, Blockchains and AI

April 27-29

This conference will focus on how companies like Uber, Airbnb, Spotify, and DoorDash can use blockchain ledgers to deliver goods and services more transparently. It will also look at tokenized incentives, presumably forms of cryptocurrency and non-fungible tokens in the app space.

Econometrics and AI

May 5-7

This conference will explore how AI can be used in various economic statistical models and practices.

Human Flourishing in the Age of AI

June 3-5

This conference will be a collaboration between engineers and philosophers about the ethics and impact of AI on the lives of its users.

On the Crossroads of AI and Society: Incentives, Privacy and Fairness

July 15-16

This conference will consider how to stakeholders can ensure AI’s actions most benefit people, particularly in the fields of healthcare education, energy and public policy.

Houston claims 19% of Texas’ new live-work-play growth

by the numbers

In Texas, Houston is a big player in the live-work-play real estate movement.

A new 21-city analysis from coworking marketplace CoworkingCafe shows the Houston area added five live-work-play projects—mixed-use developments with residential, office and recreational components—over the past decade.

From 2016 to 2025, Houston accounted for 19 percent of Texas’ new live-work-play inventory, the analysis shows. Among the new local developments were Arrive Upper Kirby, St. Andrie, and The Laura:

  • Arrive Upper Kirby, which was sold in 2021 for $182 million, offers more than 61,000 square feet of retail and restaurant space adjacent to apartments and offices. The 13-story, 265,000-square-foot project was completed in 2017.
  • St. Andrie, a 32-acre, mixed-use community, was completed in 2019. The apartment-anchored development includes an H-E-B grocery store and 37,000 square feet of office space.
  • The Laura, spanning 110,000 square feet, was completed in 2023. Among the apartment complex’s amenities is a coworking space.

According to Northspyre, a software provider for real estate developers, live-work-play projects enable people to meet their needs, such as housing, workplaces, stores, restaurants, and recreation facilities, in a single place.

A total of 542 live-work-play developments opened between 2016 and 2025 in the 21 cities, with another 69 in the pipeline for 2026, CoworkingCafe says. Among major markets, New York City made up the largest share (119) of new live-work-play developments from 2016 to 2025.

The Houston area’s five projects were built in 2018, 2019, 2020, 2024, and 2025, CoworkingCafe data indicates, with another project scheduled for completion next year. The Greater Houston Partnership recently highlighted four mixed-use projects taking shape in the region, but only one of them is scheduled to be finished in 2027. It can take two to five years or more to complete a mixed-use development.

Of the five Houston developments finished in the past decade, 56 percent of the space went toward multifamily units, 29 percent toward offices, and 16 percent toward retail, CoworkingCafe says.

As noted by the Houston-Galveston Area Council, economic development in the 21st century “is about cultivating quality live-work-play environments that attract, retain, and grow a diverse and skilled population. Employers and businesses are increasingly choosing to make long-term investments in places that connect and engage people to strengthen economic competitiveness and promote innovation.”

With eight completed projects, Austin led construction of live-work-play developments in Texas from 2016 to 2025, according to CoworkingCafe. Dallas, which welcomed five live-work-play developments during that period, tied with Houston. San Antonio data wasn’t available.