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Announcement marks kick-off of two-day Energy Technology Venture Capital Conference
Direct Energy, Houston Technology Center supporting local technology development as part of three-year agreement
Houston, TX | Posted on February 27th, 2007
Houston Technology Center and Direct Energy have forged an alliance to support the development of emerging energy technology companies in Houston, the two organizations announced on Tuesday.
As part of the three-year agreement, Direct Energy has become a financial sponsor of Houston Technology Center, as well as its retail electric provider. In addition, the company donated $100,000 to in support of its mission of accelerating the growth of emerging technology companies in Houston.
The announcement comes as the Center assembles a select group of emerging energy technology companies with an audience of venture capitalists, private equity and corporate investors, angel investors and related financial professionals at its annual Energy Technology Venture Capital Conference.
"In order for to maintain its leadership position as the energy capital of the world, we need to remain at the forefront of innovation in developing the next generation of energy-related technologies," said Laura Raymond, Senior Vice President has become the center of technology entrepreneurship, and Direct Energy's ability to support their success ensures our industry will continue to have access to the best technological resources now, and in the future."
Since entering the competitive retail electric market in 2002, Direct Energy has invested more than $2 billion in the state, including significant investments in new sources of renewable energy and in bringing to market energy-related services that help Texans reduce their overall energy consumption.
According to Phil Tonge, President of U.S. Operations for Direct Energy, the company plans to continue to make strategic investments - such as its support of Houston Technology Center- to ensure Texans can benefit from the innovation that is accelerated in competitive markets.
"Texas is a leader in creating market structures that foster innovation and success in the energy industry, and we're just beginning to see some of the true innovation in this market. With the help of organizations like Houston Technology Center to support emerging technology companies, Texans will soon be benefiting from a variety of energy-related services and products that few could have anticipated even five years ago," said Tonge, who has been appointed as the newest member of Houston Technology Center's Advisory Board.
"Houston Technology Center welcomes Direct Energy as a new supporter and sponsor. The widespread support from the business community allows HTC to carry out its mission to accelerate the commercialization of emerging technology companies and serve as a hub for technology in Houston," said Walter Ulrich, President and CEO of Houston Technology Center.
About Houston Technology Center
Houston Technology Center (HTC), a non-profit 501(c)(3) corporation, is Houston’s business accelerator and the largest technology business incubator in . HTC accelerates the commercialization of emerging technology companies by providing in-depth business guidance, access to capital and service providers, and entrepreneurial education. Supported by more than 300 corporations and organizations, Houston’s leading academic institutions, the Greater Houston Partnership, the Texas Medical Center, NASA-Johnson Space Center and the City of Houston , , HTC has become the center of technology entrepreneurship by assisting more than 200 companies within several key sectors: Energy, Technology, Life Sciences, Nanotechnology, and NASA-originated technologies. For more information, visit http://www.houstontech.org .
About Direct Energy
Direct Energy is part of the Centrica group of companies, one of the largest multi-state providers of retail energy services in North America. The North American operations have grown to more than 5 million residential and commercial customer relationships. Through its Direct Energy, CPL Retail Energy and WTU Retail Energy brands, the company is the third largest retail energy provider in . The company also offers comprehensive energy solutions to more than 60,000 commercial customers across . Globally, the Centrica group of companies is a leading provider of energy and other essential services with approximately 32 million customer relationships. For more information, visit http://www.directenergy.com .
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