According to a new report, Houston's a growing hub for tech jobs. Photo via Getty Images

The Houston metro area may not enjoy a national profile as a tech hub, but the region is a growing force in tech employment.

The State of the Tech Workforce report, released by the CompTIA trade group, found that the Houston metro area added 5,090 tech jobs in 2022. That put Houston at No. 9 among major U.S. metro areas for growth in tech jobs last year. Tech employment in the region grew 3.5 percent in 2022 versus 2021, compared with the national growth rate of 3.2 percent.

“In a year of even more uncertainty than usual, the tech labor market routinely defied expectations,” Tim Herbert, chief research officer at CompTIA, says in a news release. “The data continues to confirm the degree to which technology underpins so many facets of business activity across the economy and the breadth of employers reliant on technical and digital skills.”

CompTIA predicts the tech workforce in the Houston area will grow 2.2 percent this year, down more than a full percentage point from 2022. The projected growth rate would represent about 3,300 new jobs.

These are the tech jobs that CompTIA expects to see the biggest gains here in 2023:

  • Software developer
  • Software programmer
  • Web developer
  • Software quality assurance specialist
  • Database specialist
  • Data scientist
  • Computer scientist
  • Cybersecurity specialist
  • Systems engineer

The share of Houston-area job postings for roles in emerging technology or those requiring emerging-tech skills accounted for nearly one-fourth (24.4 percent) of the region’s job postings in 2022, the report says. These jobs are in areas such as artificial intelligence, robotics, and blockchain.

An estimated 150,145 people work in tech-related jobs in Houston, with a median wage of $89,197, according to the report. That wage is 112 percent higher than the median wage for all occupations in the region.

The tech sector generates an estimated economic impact of $20.7 billion for the Houston metro area, making up 3.3 percent of the entire local economy, CompTIA says.

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

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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

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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.