The University of Tulsa and its venture fund, Hurricane Ventures, have invested in Tobe Energy, an electrolyzer startup co-founded by UTulsa alumni Colby DeWeese and Caleb Lareau. The funding will support Tobe Energy’s efforts to make clean hydrogen production more cost-effective and efficient, with the broader goal of expanding access to low-emissions hydrogen as part of the transition to a lower-carbon economy.
Hurricane Ventures, launched in April 2023, invests in early-stage companies that have strategic connections to the university. The fund is supported by UTulsa’s Collins College of Business and the Center for Innovation & Entrepreneurship, and is designed to leverage the university’s network and resources to accelerate portfolio company development while contributing to regional economic growth.
Tobe Energy is working on what it describes as a new class of electrolyzer—equipment that splits water into hydrogen and oxygen without direct emissions—aimed at materially lowering the cost of clean hydrogen generation. The company’s approach centers on a membrane-free design intended to simplify production, reduce waste heat, and cut costs by up to 75%, positioning the technology for deployment in large-scale industrial settings, including energy, manufacturing, and transportation.
DeWeese, a UTulsa chemical engineering graduate and the CEO of Tobe Energy, has led more than $75 million in energy infrastructure projects, according to the announcement. Lareau, who studied mathematics and biochemistry at UTulsa and earned a doctorate from Harvard, is also a co-founder of Cartography Biosciences. This precision therapeutics company has raised more than $50 million in funding. Tobe Energy becomes the 11th company backed by Hurricane Ventures.
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, UTulsa Center for Innovation & Entrepreneurship
“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
