The University of Tulsa and Hurricane Ventures have announced an investment in Tobe Energy, a groundbreaking electrolysis startup co-founded by UTulsa alumni Colby DeWeese and Caleb Lareau. The funding will accelerate the company’s mission to make clean hydrogen production cheaper, more efficient and widely accessible to accelerate the transition to a low-carbon economy.
“We are proud to see our UTulsa alumni leading the charge in clean energy transition. Hurricane Ventures was created to be a catalyst for exactly this kind of entrepreneurial success. Tobe Energy and its founders, Colby and Caleb, exemplify the bold entrepreneurial spirit that UTulsa fosters, and we are excited to support them as they work to solve the global energy challenge,” said Chris Wright, Director of UTulsa’s Center for Innovation & Entrepreneurship (CIE).
Launched in April 2023, Hurricane Ventures invests in early-stage companies with strategic connections to the university. The fund leverages the university’s knowledge network and resources to spur success across its portfolio. Through the Collins College of Business and Center for Innovation & Entrepreneurship, Hurricane Ventures advances UTulsa’s innovation ecosystem and drives economic growth across the region.
Tobe Energy
Tobe Energy is developing a new class of electrolyzer, a device that splits water into hydrogen and oxygen without emissions, making clean hydrogen generation significantly more cost-effective. The company’s novel, membrane-free system simplifies the production process, cutting costs by up to 75% and reducing waste heat. This scalable technology is designed for large-scale use in industries like energy, manufacturing and transportation.
Tobe was co-founded by DeWeese, a chemical engineering alumnus, and Lareau, who earned his undergrad in mathematics and biochemistry from UTulsa and went on to receive his doctorate from Harvard. DeWeese, who serves as CEO, has led over $75 million in energy infrastructure projects. Lareau, a Forbes 30 Under 30 honoree, is a former academic scientist and co-founder of Cartography Biosciences, a precision therapeutics company that has raised more than $50 million in funding.
This fall, Javen Weston, associate professor of chemical engineering at UTulsa, is taking a sabbatical with Tobe to support testing of their next-generation system.
“Oklahoma is the perfect place to launch big renewable projects, and it’s incredible to have support from both local VCs and my alma mater. Our mission is simple but ambitious: make hydrogen production so efficient and affordable it drives the transition to a low-carbon economy. With Hurricane Ventures behind us, we’re one step closer to turning breakthrough technology into real-world impact,” DeWeese said.
Tobe Energy is the latest company to receive support from Hurricane Ventures, bringing the total number of investments to 11.
“Tobe Energy is the kind of innovation Hurricane Ventures was built to support. We’re thrilled to be part of their journey as they scale their breakthrough technology,” Connor Sitton, director of Hurricane Ventures.
About Hurricane Ventures
Hurricane Ventures is a collaborative venture between FortySix Venture Capital LLC (46VC) and The University of Tulsa. Hurricane Ventures invests in early-stage, high-growth companies led by UTulsa students, employees, alumni and strategic partners. Leveraging the university’s resources and alumni network, Hurricane Ventures aims to support visionary founders in launching and scaling new ventures. The fund embraces a sector-agnostic approach while prioritizing the sectors where the university has demonstrated expertise. For more information, please visit hurricanevc.com