A Dallas-based holding company specializing in emerging technologies, including artificial intelligence (AI), blockchain, and renewable energy, is in discussions with a Houston-based renewable energy firm.
According to a press release from BB Advanced Technologies, CEO John B. Billingsley announced the company's intention to acquire Proteus Power. He emphasized that this acquisition would significantly impact West Texas.
"I know the potential of renewable energy, both for our country and for the small landowners and communities we work with," said Billingsley. "Proteus Power is just the type of company I have known and grown in the past, and we're perfectly positioned to make it a very profitable company for our investors. In the near term, this very substantial business will provide a multi-billion-dollar boost to the Texas economy from Lubbock to Midland, across West Texas and down to the Gulf Coast."
Billingsley also heads Tri Global Energy, identified as one of the largest renewable energy companies in the United States. The Proteus Power portfolio includes approximately 15.5 gigawatts of utility-scale renewable energy projects featuring battery energy storage systems and solar projects. The company plans to develop $3.3 billion worth of five gigawatts of renewable energy projects over the next four years and lists ERCOT West, MISO LA/MS (Midcontinent Independent System Operator Louisiana/Mississippi), MISO Illinois, MISO Texas, and SPP South among independent operators utilizing their services.