Coloradoans are Playing an Important Role in the Global Energy Evolution

Energy powers the world, plain and simple. It’s what keeps our lights on, our homes warm, and provides us with so many daily necessities whether we realize it or not.

When you think of the individuals who have played an important role in energy’s evolution historical figures probably come to mind: Thomas Edison, Ben Franklin, or John Rockefeller. Yet, the story of energy is far from over, leaving room for modern titans like Elon Musk and Bill Gates. But there are countless individuals whose accomplishments within the industry go unnoticed every day. Some of them are even in our own backyard.

Enter Enverus — the leading energy data analytics company headquartered in Austin, Texas, specializing in Software as a Service (SaaS) to support the entire industry. What began as a small idea in one of the founder’s garages back in 1999, is now a global trailblazer in data analytics with offices all over the world, including right here in Colorado with an outpost in Centennial.

Enverus is committed to relentless innovation, growing both in size and worth. In 2020, the company was acquired by private equity firm Hellman & Friedman in a transaction that valued the company at $4.25 billion. It has 1,400 employees worldwide and serves more than 6,000 customers across 50 countries.

But it isn’t Enverus’ products that matter the most, says Enverus CEO Jeff Hughes — it’s the people.

Recently, Hughes made several strategic moves within the leadership team, placing six more individuals at the helm of their respective areas of expertise. Two of those leaders reside in Colorado: Matt Wilcoxson, and Michael Mroz.

Wilcoxson has taken on the role of chief growth officer at Enverus, where he will lead and oversee strategic initiatives designed to help customers with their own transformations, according to Enverus’ announcement. Wilcoxson joined Enverus (then known as Drillinginfo) in 2005 and has served in various sales and leadership roles during his 16-year tenure. He has led Enverus’ global sales efforts, account management and membership development, and has extensive experience in growing new markets and various verticals.

Mroz was named Chief Sales Officer. Mroz previously served as senior vice president of Energy Analytics Sales at Enverus, and joined the company in 2013 as a territory sales manager following Enverus’ acquisition of Transform Software & Services Inc. Prior to Enverus, he worked closely with the Technology teams at Kerr-McGee to drive integrated workflows and introduce new technology to the organization, and as a geologist to advance reservoir characterization for Deepwater discoveries and producing fields.

Mroz will also lead sales for specialty markets like Oil Field Services, Power & Renewables, Financial Markets and Trading & Risk, alongside Co-Chief Sales Officer David Ranucci who leads sales for Oil & Gas Operators. Ranucci has led enterprise software sales teams spanning across all areas of the Energy value chain.

“These incredible individuals will help lead Enverus into the next chapter of success as we help shape the future of energy—the largest market in the world,” Hughes said.

As the energy evolution continues, and companies here in Colorado strive to deliver reliable, cost-effective energy, Enverus will serve as the underlying source of truth for energy. So perhaps it isn’t Edison, Franklin, Rockefeller, or even Musk or Gates we should be thanking. It’s individuals like Wilcoxson and Mroz, and the thousands of others who are helping to ensure energy is delivered to where it’s needed, when its needed.

 

Jon Haubert Hb Legacy Media Co 2 Scaled E1634163833845Jon Haubert is the publisher of ColoradoBiz magazine. Email him at [email protected].

2021 renewable energy market update

The renewable energy industry continues to grow both in Colorado and across the country. In 2020, renewable energy made up 21% of the total energy produced, second only to natural gas and beating coal for the first time.[1] 

Colorado’s 2021 legislative session, which wrapped up in June, continued to push new policies to help support the advanced energy industry.

These included direct benefits such as measures to create transparency surrounding the cost of renewable energy permits [2] and incentivizing utilities to develop innovative energy technologies [3] and indirect measures, such as a requirement for large buildings to track their energy performance [4] and requirements to reduce greenhouse gases and adopt protections for disproportionately impacted communities.[5]

These indirect measures will likely benefit the advanced energy industry as Colorado and our utility providers continue to seek ways to improve the percentage of renewables on our energy grid and clean our air and water.  

Renewable energy contracting and development is not the result of short-term decision-making, but often involves years of due diligence, negotiation, and construction to get a 20- to 35-year contract up and running.

This year, Colorado’s annual solar energy capacity is expected to more than double, as investors and utilities seek to capitalize on our more than 300 days of sun per year.[6] This projected doubling comes on the tail end of a 46% increase year over year from 2020.

As we look to the back half of 2021, we anticipate that many more renewable energy projects will continue to come online, and more renewable energy deals will continue to be signed as Colorado continues to exert pressure to work toward the state’s goal of having a 100% renewable energy grid by 2040.  

On the energy generation side, solar will likely continue to dominate renewable energy deals. That said, green hydrogen will likely become cost competitive with solar in the near future and we may see an increase in this deal flow.[7] Green hydrogen is produced by electrolysis that is powered by renewable energy resources. There may be opportunities beyond the forefront of commercial-scale green hydrogen projects.   

While the growth of renewable energy generation is important, the advanced energy market needs to be supported beyond generation. As we look to the back half of 2021, we anticipate growth outside of energy generation in two main areas: energy storage and electric vehicle charging infrastructure. These are both necessary and key pieces to the renewable energy transition. 

Energy storage is critical to creating a reliable, renewable energy grid as the sun does not always shine and the wind does not always blow.[8] As a result, we need to store the renewable energy we produce to help avoid blackouts and keep the grid running. Energy storage is not merely limited to battery solutions, which may pose a substantial environmental risk.

There are a number of other energy storage technologies that do not have the same environmental risk, and several startups that are seeking solutions to mitigate  that risk.[9] We expect to continue to see market disruption in the energy storage space and increased battery storage deployment.  

Colorado and many others have a goal of getting to 100% zero emission vehicles.[10] The vast majority of zero emission vehicles are electric vehicles, which requires charging. In order to efficiently charge vehicles, a sizable electric load is required.

As a result, we not only expect to see increases in construction and upgrades to substations and distribution systems in order to provide that power to the charging station, but we also expect to see an increase in the types of chargers, different technology providers, and products related to charging. Any side of electric vehicle charging presents substantial business opportunities in both the public and private sectors.

Furthermore, some electric car companies have  committed to placing electric vehicle chargers at each state park in Colorado.[11] It is unlikely gas stations have the electricity capacity to fully support a transition to electric vehicles due to the change in load requirements and lack of proper infrastructure. 

As installing the number of chargers we need may result in a somewhat substantial capital investment, we may  see different business opportunities related to where chargers are placed and different methods of investment to attract individuals to those charging stations. In 2018, more rural portions of the state bet on electric vehicle chargers as a way to boost their economies.[12]  

As the advanced energy market continues to grow, we will likely continue to see other renewable markets come to exist and strengthen. There is an opportunity now for businesses to be at the forefront of what’s next. Whether it is on the generation side through green hydrogen, helping stabilize the grid through energy storage, or supporting our transition to zero emission vehicles through electric vehicle charging stations – the advanced energy economy presents a myriad of opportunities for people in all industries. 

Bobby Dishell Connect with Bobby Dishell to discuss the future of renewable energy in Colorado and the role your company can play in the energy transition. Dishell is an attorney on the Advanced Energy Team at Moye White, a Denver-based business law firm offering strategic representation in complex commercial transactions and disputes. 

[1] https://pv-magazine-usa.com/2021/07/28/renewables-generated-a-record-amount-of-electricity-in-2020-eia-says/?utm_source=USA+%7C+Newsletter&utm_campaign=ec2f18f993-RSS_EMAIL_CAMPAIGN&utm_medium=email&utm_term=0_80e0d17bb8-ec2f18f993-159889606
[2] HB21-1284
[3] HB21-1324
[4] HB-1286
[5] SB21-200
[6] https://www.axios.com/colorado-solar-energy-expansion-renewables-9ad811c2-81d1-400d-a179-55fe790e1141.html
[7] https://energywatch-inc.com/energy-market-trends-2021/
[8] https://www.utilitydive.com/news/following-california-and-texas-blackouts-experts-see-potential-for-energy/598348/
[9] https://www.pv-magazine.com/2021/07/28/aussie-startup-invents-breakthrough-non-toxic-battery-electrolyte-thats-cheaper-by-factor-of-100/
[10] https://energyoffice.colorado.gov/zero-emission-vehicles/colorado-ev-plan-2020
[11] https://coloradosun.com/2021/03/18/colorado-gets-electric-car-charges-for-all-parks/
[12] https://energynews.us/2018/09/19/in-colorado-two-rural-co-ops-are-leading-the-charge-on-electric-vehicles/