Photo courtesy of Isolcork

As temperatures continue to rise and electricity costs follow suit, companies and homeowners are keen on finding ways to cut costs while improving their energy efficiency.

That's whereIsolcork comes in. This top-of-the-line, multi-purpose, cork-based finish is sustainable, aesthetically pleasing, insulating, and durable, both for maintenance and new construction projects.

And the best part is that it's applied to the exterior only, meaning there's no need to pause or rearrange what's happening inside — whether that's manufacturing or everyday life — while the building's envelope is improved.

Isolcork has specialized in sustainable cork for the construction, operational, and maintenance industry since 2010, and is now available for residential use as well. Its products have been commercialized in 14 countries in both Europe and Latin America and used on more than 10,000 projects worldwide, including 25-plus in Arizona and Texas. All Isolcork lab tests have been conducted in U.S. labs under ASTM.

There are two options:

  • Spray cork: A blend of premium granulated cork particles combined with high-grade water-based resins, mineral fillers, stabilizers, and additives. (This video demonstration goes into more detail.)
  • Rubber top: Sprayable waterproofing membrane with rubber and nanoparticles for corrosion protection.

“We have a high standard of quality control for our products, and we manufacture a premium coating solution," says Isolcork manufacturer Pablo Palma. "We buy the best cork from the best producer of cork in the world, which is in the country of Portugal, and we use a unique grain size that we process manually in our manufacturing facility. I can certainly say that making spray cork is like being a master chef with a Michelin-starred restaurant. We are proud of our product, and we will keep it that way for our clients.”

American commercial buildings, especially warehouses, manufacturing, and healthcare facilities, that add Isolcork and meet certain government requirements can also qualify for a tax deduction of up to $5 per square foot, according to Section 179D.

Isolcork maintains a trusted partnership with a specialized tax firm that can build and certify the energy models for commercial buildings under Section 179D tax deduction incentives.

The global green construction is estimated to reach $774 billion by 2030, with a significant compound annual growth rate (CAGR) of 11.8 percent from 2022 to 2032.Texas is the second-largest market in the U.S. for these type of products.

“Our success is due to three worldwide trends in the construction industry," says Isolcork's Mario Palma. "First, environmental entities are looking for natural component materials due to environmental requirements. Second, younger generations who care more about the environment are getting into decision-making positions across industries and they prefer natural products. Third, building owners, no matter what view they have, are looking to save energy and money due to the energy cost increase. Our products are 100 percent aligned with these worldwide trends.”

Companies around the world have been discovering the benefits of Isolcork — one recent example is a large manufacturing facility in Dallas. The estimated energy cost savings in heating and cooling will be between 15 and 20 percent for a standard product solution, plus the estimated tax deduction according to estimation could be equivalent to 70 percent of the total cost of the envelope improvement work.

Isolcork has proven so successful that it even holds the honor of being the first Latin American startup to be part of the Center for Innovation Program at the University of Arizona.

“With the estimated North America demand for Isolcork products being so large, the company is looking for locations and financial support of $10 million to build two manufacturing facilities in Texas and Arizona," says Isolcork USA & Canada country manager Emilio R. Armstrong.

Whether you're looking to invest in Isolcork or simply add it to your structure, the benefits of the sustainable product are immense. Learn more about Isolcork here.

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Fast-growing Houston-based geothermal energy co. secures $255M in additional funding

show me the money

A Houston company that's responding to rising energy demand by harnessing geothermal energy through its technology has again secured millions in funding. The deal brings Fervo's total funding secured this year to around $600 million.

Fervo Energy announced that it has raised $255 million in new funding and capital availability. The $135 million corporate equity round was led by Capricorn’s Technology Impact Fund II with participating investors including Breakthrough Energy Ventures, CalSTRS, Congruent Ventures, CPP Investments, DCVC, Devon Energy, Galvanize Climate Solutions, Liberty Mutual Investments, Mercuria, and Sabanci Climate Ventures.

The funding will go toward supporting Fervo's ongoing and future geothermal projects.

“The demand for 24/7 carbon-free energy is at an all-time high, and Fervo is one of the only companies building large projects that will come online before the end of the decade,” Fervo CEO and Co-Founder Tim Latimer says in a news release. “Investors recognize that Fervo’s ability to get to scale quickly is vital in an evolving market that is seeing unprecedented energy demand from AI and other sources.”

Additionally, Fervo secured a $120 million letter of credit and term loan facility from Mercuria, an independent energy and commodity group that previously invested in the company.

“In surveying power markets across the U.S. today, the need for next-generation geothermal is undeniable,” Brian Falik, group chief investment officer of Mercuria, adds. “We believe in Fervo not just because their EGS approach is cost-effective, commercially viable, and already being deployed at scale, but because they set ambitious targets and consistently deliver.”

In February, Fervo secured $244 million in a financing round led by Devon Energy, and in September, the company received a $100 million bridge loan for the first phase of its ongoing project in Utah. This project, known as Project Cape, represents a 100x growth opportunity for Fervo, as Latimer explained to InnovationMap earlier this year. As of now, Project Cape is fully permitted up to 2 GW and will begin generating electricity in 2026, per the company.

Other wins for Fervo this year include moving into its new headquarters in downtown Houston, securing a power purchase agreement with California, growing its partnership with Google, and being named amongst the year's top inventions by Time magazine.


Investors from Houston, Boston fuel Greentown with $4M commitment

seeing green

Greentown Labs, a climatetech incubator with locations in the Houston and Boston areas, has announced it has received funding from a mix of investors.

The $4 million in funding came from both of the Houston and Massachusetts locations. Houston investors included Bobby Tudor, CEO of Artemis Energy Partners and chairman of the Houston Energy Transition Initiative; David Baldwin, co-founder of OpenMinds and TEX-E and partner at SCF Partners; and Rice University. Other investors included MassDevelopment and the City of Somerville.

“The challenges of the energy transition are immense, and the role played by technology incubators like Greentown Labs is essential,” Tudor says in a news release. “We believe this role, which is a partnership between academia, industry, philanthropists, entrepreneurs, and governments, is the best way to get to effective, scalable solutions in a time frame that the urgency of the challenge requires. We need all hands on deck, and this partnership between Massachusetts and Texas can be a role model for others.”

According to Greentown, the funding will support its financial position and contribute to preparing the incubator for its next chapter of supporting its its leadership team prepare for Greentown’s next chapter supporting and growing its 575 startups.

“Greentown’s mission aligns closely with the Houston Energy Transition Initiative’s goal of accelerating global solutions to address the dual challenge of meeting growing energy demand globally while also significantly reducing CO2 emissions,” adds Steve Kean, president and CEO of the Greater Houston Partnership.

With the announcement of the funding, Greentown named its board members, including Tudor, who will serve as Greentown Labs Board Chair. The other Houston-based board members are:

  • David Baldwin, co-founder of OpenMinds and TEX-E; partner atSCF Partners
  • Bob Harvey, former president and CEO of GHP; board member of TEX-E
  • Jane Stricker, senior vice president of energy transition and executive director of HETI

“With this new funding, Greentown is poised to expand its impact across its existing ecosystems and support even more climatetech startups,” adds Kevin Dutt, interim CEO of Greentown Labs. “We believe in the essential role entrepreneurship will play in the energy transition and we’re grateful for the support of our partners who share in that belief and our collective commitment to commercializing these technologies as quickly and efficiently as possible.”

According to Greentown, the incubator plans to announce its new CEO in the coming months.

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This article originally ran on EnergyCapital.