Data centers are forecasted to account for 12% of electricity demand in the United States by 2030, and several such centers are planned for Oklahoma, said the CEO of MIRATECH, a global company based in Tulsa that offers environmentally sustainable solutions that decrease harmful emissions and noise pollution.
With that extra power demand comes more demand on the environment, which ultimately affects the health of individuals, said David Zenthoefer (B.S.B.A. ’96, MBA ’98), who was the featured speaker at Wednesday’s Friends of Finance luncheon, a monthly program at The University of Tulsa. More than half of the electricity produced in Oklahoma comes from fossil fuels that can pose threats to humans.
Beyond power generation solutions, MIRATECH also is responding to regulations from the Clean Air Act and Inflation Reduction Act (IRA), which treats methane as a criteria pollutant. Under the IRA rule from 2024 to 2038, reduction in methane will avoid an estimated 58 millions tons and prevent up to 97,000 asthma cases and thousands of deaths.
“Methane traditionally was not paid attention to through the Clean Air Act, but it is part of the Inflation Reduction Act. You’re going to continue to see we have some patented technologies that we’re in beta testing,” Zenthoefer told the standing-room-only crowd. “There is no commercial technology anywhere in the world today that eliminates methane through an engine. It doesn’t exist. We’re working on that. I call it our holy grail. If we can hit it, it’s going to be phenomenal.”
Since its humble founding in 1992 as a family-owned business, MIRATECH has acquired several companies and this year was itself acquired by TPG RISE Climate, the largest global climate fund. “From a (private equity) standpoint, from a finance standpoint, it’s been a really interesting journey for us,” he said.
Along the way, relationships have remained key to the business model and sit atop the company’s flywheel.
“Everything we do in our world revolves around our relationships,” Zenthoefer said. “I tell people in our organization, ‘Everyone’s in sales.’ You might not think you are. You might think you’re in accounts receivable. Nope. You might think you’re in shipping. No. We’re all sales support, and every one of us controls that piece.”
At the end of the presentation, MIRATECH’s leadership team made a surprise announcement: An endowed scholarship fund was created in honor of Zenthoefer and his wife, Carrie, to aid students in UTulsa’s Collins College of Business who want to become future CEOs.
Registration is open for the next Friends of Finance luncheon on Jan. 22, 2025, which will feature Bob Adelson, managing partner with Osage Venture Partners and managing partner with Osage University Partners.