Ahead of Houston Energy & Climate Startup Week, we’re continuing our conversations with the people shaping Houston’s energy startup ecosystem. This time it’s Eric Rubinstein, founder of New Climate Ventures, who’s been investing in the energy and climate space for over a decade and watching Houston’s ecosystem transform from the inside. Where John Jeffers gave us the mentor’s perspective, Kathy Anderson the founder’s, Laureen Meroueh gave us an insight into the journey of becoming an industrial founder, Rubinstein brings the investor’s map of what’s here, what’s changed, and why being in energy necessitates that you attend HECSW.

You’ve been in Houston’s energy ecosystem for close to a decade. Take us back to the beginning.

It was a very different city back then. Going back to 2018, it was more angel networks and corporates. There just weren’t a lot of companies that we could find that were investable in Houston at that time. You had to arrange to see people or go to a Houston Angel Network meeting, which either you were a member of or you were invited to. It was a much more dispersed kind of interaction.

What really changed it was the physical buildings. It got a lot more concentrated starting with Greentown Labs opening up and then the Ion. All of a sudden it wasn’t just a Rice business plan competition anymore, it was random interactions in these spaces that created a more social ecosystem where we actually get things done.

What do you mean by “get things done with random interactions?”

Having a place where you know there’s going to be something relevant happening just attracts like-minded people, and then it’s not just startups with customers. It’s startups with investors and investors with investors and investors with customers. It’s law firms, accounting firms, supply chain companies. It’s the whole ecosystem.

One person tells another person to go to this event, that person tells a third, and all of a sudden you have a whole ecosystem building around it. The success of these spaces has been having maybe an event that attracts someone the first time, and then that person starts coming back because they see the value of being there.

There are companies I run into where I know the founders, and I do not anticipate investing. But I always try to introduce them to someone. People generally want to be helpful to one another whether or not it’s in their personal benefit. It’s the right thing to do. All of those interactions and serendipity is made possible because of a physical space.

So the ecosystem has clearly grown. But when people say Houston is unique for energy startups, what does that actually mean in practice?

We have got venture capital, private equity, and corporate customers headquartered here. Engineering talent that’s worked in the workforce and understands the challenges of scaling. Manufacturing capability. The university system is spinning out companies, and local companies are too.

Anywhere else you may have one or two of those elements, but having all of that right here in Houston is definitely unique. And having that energy expertise is beyond unique. Five years ago, I think 80% of the companies at Greentown Labs were companies that weren’t born here. It was because they wanted to find that customer base. Now we’re finding investable companies that actually spawned out of Houston. Houston went from importing startups to growing them.

And when you zoom in, even a single corporate relationship here can take a startup across its entire lifecycle. Shell has Game Changer, and Chevron has Catalyst, which grants money to very early-stage startups about to pilot. Both have venture arms too, so they can see you early and invest later. And eventually they can become your customer. You can hit that entire spectrum almost within two companies. Houston could open a door that leads from grant funding to venture investment to customer contract, all within one corporate relationship.

Where do you see all of this heading?

Geothermal is the clearest proof that Houston’s energy DNA translates forward. The petroleum engineering and gas engineering that’s happened here for decades is directly suitable for drilling in the geothermal space. You can point to Fervo, who just IPO’d; XGS, who is likely to IPO soon; and Quaise, who just raised more money. I don’t think it’s a coincidence that all of them are based in or have a significant presence in Houston. This place is going to be a leader in geothermal, whether it’s a thought leader or an execution leader.

Nuclear is going to be a growth area too, though there are other places where nuclear has been established longer that have ecosystems Houston doesn’t naturally have yet. But ultimately, all roads lead to Houston when it comes to energy, because of Houston’s experience and significance in space historically.

Why does Houston Energy & Climate Startup Week matter specifically?

Houston actually has energy happening in Houston. New York doesn’t naturally have energy; it has finance. San Francisco has founders abundant, investors abundant, but not the energy component. When you come to Houston for HECSW, you’re getting a totally different picture of the world, very pragmatic one, built on the future infrastructure needs associated with the build-out that’s naturally going to happen from an expanding energy base. That perspective is nearly absent from the other weeks happening elsewhere. If you want to actually be involved in energy, coming to Houston’s energy is a non-negotiable

Bio: Eric Rubinstein is the founder of New Climate Ventures, launched in 2021. He has been investing in venture funds since the early 2010s, directly and on behalf of Citi. His involvement in Houston’s energy and climate ecosystem dates back to 2018, and he has been active across angel networks, corporate ventures, and the broader startup community since.

Houston Energy & Climate Startup Week runs September 14–18, 2026, bringing together energy and climate startups, investors, and industry leaders from across the region and beyond. Stay tuned on Instagram and Linkedin for event updates.