UTulsa’s Hurricane Ventures invests in alumni-founded Tobe Energy to scale low-cost, membrane-free electrolyzers advancing clean hydrogen production.
The University of Tulsa and its affiliated venture capital arm, Hurricane Ventures, have announced a strategic investment in Tobe Energy, an innovative clean hydrogen technology startup co-founded by UTulsa alumni Colby DeWeese and Caleb Lareau. The investment is expected to significantly accelerate Tobe Energy’s efforts to commercialize a next-generation electrolysis platform aimed at making clean hydrogen production dramatically more affordable, efficient, and scalable.
Tobe Energy’s core mission aligns closely with the broader global push toward decarbonization and energy system transformation. By lowering the cost barriers associated with hydrogen production, the company aims to expand the adoption of hydrogen as a zero-emissions energy carrier across industrial, transportation, and power-generation applications. The funding from Hurricane Ventures will help the startup advance technology development, scale its operations, and transition its innovation from laboratory validation to real-world deployment.
Chris Wright, director of UTulsa’s Center for Innovation & Entrepreneurship, emphasized the significance of alumni-led innovation in advancing clean energy solutions. He noted that Hurricane Ventures was established precisely to support high-potential startups emerging from the university ecosystem. According to Wright, Tobe Energy represents the kind of bold, purpose-driven entrepreneurship that UTulsa seeks to nurture—ventures that not only demonstrate commercial promise but also address urgent global challenges such as climate change and energy security.
Founded in April 2023, Hurricane Ventures focuses on early-stage investments in companies with meaningful connections to the University of Tulsa. The fund leverages the university’s academic expertise, research capabilities, and professional networks to help portfolio companies accelerate growth. Operating in close collaboration with UTulsa’s Collins College of Business and the Center for Innovation & Entrepreneurship, Hurricane Ventures plays a central role in strengthening the region’s innovation ecosystem while promoting economic development and technology commercialization.
At the heart of Tobe Energy’s innovation is a new class of electrolyzer—a system that produces hydrogen by splitting water into hydrogen and oxygen without generating emissions. Unlike conventional electrolyzers, Tobe Energy’s design eliminates the need for expensive membranes, resulting in a simpler, more robust architecture. This membrane-free approach reduces system complexity, lowers capital and operating costs by up to 75%, and minimizes waste heat generation. The technology is designed to scale efficiently, making it suitable for large industrial installations where cost and reliability are critical factors.
Colby DeWeese, Tobe Energy’s chief executive officer and a UTulsa graduate in chemical engineering, brings extensive experience in large-scale energy infrastructure development, having overseen projects exceeding $75 million in value. His co-founder, Caleb Lareau, holds degrees in mathematics and biochemistry from UTulsa and earned his doctorate from Harvard University. Lareau is also the co-founder of Cartography Biosciences, a precision therapeutics company that has secured more than $50 million in funding, underscoring his track record of translating scientific innovation into commercially viable enterprises.
DeWeese highlighted Oklahoma’s advantages as a launchpad for renewable and low-carbon energy projects, citing its industrial base, energy expertise, and supportive investment environment. He expressed appreciation for the backing from both local venture capital firms and his alma mater, describing Hurricane Ventures’ support as a critical milestone in transforming Tobe Energy’s breakthrough technology into practical, market-ready solutions.
With this latest investment, Tobe Energy becomes the 11th company supported by Hurricane Ventures, reinforcing the fund’s commitment to fostering high-impact startups that emerge from or collaborate closely with the University of Tulsa.
