The University of Tulsa and Hurricane Ventures have announced an investment in Tobe Energy, an emerging electrolysis startup founded by University of Tulsa alumni Colby DeWeese and Caleb Lareau. The funding aims to advance Tobe Energy’s mission to make clean hydrogen production more affordable, efficient, and scalable, driving progress toward a global low-carbon economy.
Hurricane Ventures, launched in April 2023, is an early-stage investment fund created to support startups with strong ties to the University of Tulsa. The fund leverages the university’s academic expertise, research capabilities, and business network to foster innovation and entrepreneurship among students, alumni, and faculty. Operated in collaboration with the Collins College of Business and the Center for Innovation & Entrepreneurship (CIE), the initiative has already invested in 11 companies that reflect the university’s expanding role in regional and national economic development.
Tobe Energy is developing a new class of electrolyzers, which are devices that split water into hydrogen and oxygen—to make clean hydrogen generation cheaper and more sustainable. Unlike traditional systems, Tobe’s design eliminates the need for membranes, simplifying the production process and cutting costs by as much as 75%. The membrane-free system also reduces waste heat, improving overall efficiency and reliability. Designed for large-scale industrial applications, the company’s technology is well-positioned to serve key sectors such as energy, manufacturing, and transportation.
Co-founders DeWeese and Lareau bring deep technical and entrepreneurial experience to the company. DeWeese, a University of Tulsa chemical engineering alumnus and Tobe’s CEO, has overseen more than $75 million in energy infrastructure projects. Lareau, who studied mathematics and biochemistry at Tulsa before earning his doctorate at Harvard University, is a Forbes 30 Under 30 honoree and co-founder of Cartography Biosciences, a biotech firm that has raised over $50 million in funding.
In a demonstration of the university’s commitment to applied innovation, associate professor of chemical engineering Javen Weston will take a sabbatical this fall to join Tobe Energy, helping the company advance testing of its next-generation electrolysis technology.
With this funding, Tobe Energy will further strength the university’s efforts to bridge academic research with real-world impact. The collaboration also highlights Oklahoma’s emergence as a hub for renewable energy technology and entrepreneurship.
KEY QUOTES:
“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.”
Chris Wright, Director, Center for Innovation & Entrepreneurship (CIE), University of Tulsa
“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.”
Colby DeWeese, Co-Founder and CEO, Tobe Energy
“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, Hurricane Ventures
