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Energy Tech Accelerator Could Bring Jobs

Published May 18, 2021 by Josh Pherigo

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Houston Mayor Sylvester Turner and Greentown CEO Emily Reichert

Clean energy accelerator Greentown Labs opened April 22 in the former Fiesta market in Midtown. The Boston-based company launched in ’11 to foster early stage startups tackling climate change.  

With more than 130 affiliated startups employing more than 1,400 workers in carbon reducing technologies, Greentown is considered one of the top energy-focused incubators in the world. Houston is its first expansion outside of Massachusetts. A cohort of 27 startups will take up residence in the new building this spring. 

The Greentown debut comes as energy tech companies ride a wave of growth in Houston. Venture capital funding in cleantech, climate tech and digital oil & gas totaled $251 million over the last three years, up from $38 million during the previous three-year period, according to PitchBook. There are now 13 energy tech startups valued over $20 million in Houston. The highest valuation belongs to bio-chemical manufacturer Solugen, worth over $250 million.

Greentown joins Halliburton Labs, and the Rice Alliance Clean Energy Accelerator as the third clean tech incubator announced in Houston in the last 12 months. 

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