Two Houston organizations that are on a mission to make Houston a leader in the energy transition have announced new plans for a hub focused on decarbonization.
The Houston Energy Transition Initiative and the Center for Houston’s Future have teamed up with the Mission Possible Partnership, with support from the Bezos Earth Fund, to lead the city of Houston through the accelerated development of a regional clean industrial hub geared at decarbonization of the industrial sector, including petrochemicals, cement plants, heavy transportation, and more.
The two-year project is focused on development and deployment of clean energy projects — such as "low-carbon hydrogen, carbon capture, use and storage, electrification of industrial processes, and the production and use of low carbon fuels," according to a press release.
“There is no geography in the world better positioned to support the transition to and integration of abundant, low-carbon energy solutions than Houston," says Jane Stricker, executive director and senior vice president of HETI, in the release. "As the Energy Transition Capital of the World, Houston is leveraging its energy leadership to accelerate global solutions for a low-carbon future. This partnership with MPP is a critical component in the region’s efforts to develop and deploy technologies, policies and strategies for broad decarbonization."
MPP, a nonprofit alliance of climate leaders launched in 2020 focused on energizing decarbonization, is supported by RMI, the Bezos Earth Fund, the Energy Transition Commission, World Economic Forum, and We Mean Business.
“The Center for Houston’s Future has been leading HETI’s clean hydrogen initiative with the goal of making Houston a global clean hydrogen leader," says Brett Perlman, CEO of the Center for Houston’s Future. "We’re now pleased to work with Mission Possible Project and leverage the MPP team’s deep subject matter expertise in clean hydrogen and experience in creating hydrogen ecosystems."
In October, HETI released a report calling for the region to aim for $150 billion in capital earmarked for the sector by 2040. The report indicated that about $15 billion in energy transition capital is flowing into the region each year and about $25 billion is flowing out of the region. Of the $25 billion, oil and gas players with headquarters or a significant presence in Houston account for more than 80 percent.
“Increased energy transition capital commitment from energy incumbents raises investor confidence in Houston’s potential for energy transition leadership,” reads the report.
The Center for Houston's Future had a report of its own that published earlier this year and makes the argument of how Houston-based assets can be leveraged to lead a global clean hydrogen innovation.
“It should come as no surprise that Houston, the energy capital of the world, is taking the lead in the emerging low emissions energy ecosystem,” says Bryan Fisher, director of hubs at MPP and managing director of RMI’s Climate-Aligned Industries, in the release. “MPP’s work with HETI and the Center for Houston’s Future will focus on a portfolio of solutions, including low carbon fuels, clean hydrogen, and CCUS to drive sustainability and equitable economic growth for the region.”