FOR IMMEDIATE RELEASE
September 4, 2025
Contact: Anthony Triana
atriana@saxum.com
405-818-0791
Cortado Ventures Leads $1.8M Investment in Green Hydrogen Pioneer Tobe Energy
Oklahoma-founded company aims to drive down costs of e-fuels and revolutionize industrial hydrogen access with 95% American-made tech
OKLAHOMA CITY (Sep. 4th, 2025) — Cortado Ventures has led a $1.8 million seed funding round in Tobe Energy, an OKC-based energy innovator developing a next-generation green hydrogen electrolysis system. Tobe’s breakthrough technology achieves 94.7% efficiency, reduces operating costs by 50+%, and enables domestic manufacturing with readily available U.S. stainless steel—setting the stage for scalable, affordable, and sustainable decarbonization across heavy industry and emerging sectors like AI-powered data centers.
Additional investors in the round include 46 VC, through its Scissortail and Hurricane funds, Techstars, marking one of the accelerator’s largest follow-on investments to date, Wavefunction VC, a deep tech fund led by former SpaceX engineer and repeat deep tech founder Jamie Gull, and a select group of seasoned angel investors. Together with Cortado Ventures, this coalition brings a powerful combination of capital, industry expertise, and strategic relationships to help Tobe Energy scale its technology and accelerate market adoption.
CEO and founder Colby DeWeese, a chemical engineer and natural gas project manager turned clean energy entrepreneur, built Tobe Energy on a legacy of innovation. He founded the company after pioneering a new electrolysis process—a leap in efficiency akin to moving from incandescent bulbs to LEDs.
DeWeese grew up prototyping electronics with his late father, the inventor of the TiVo, before graduating from the University of Tulsa and beginning his career in oil and gas. He managed $75M+ projects across the oil, gas, and petrochemical sectors, honing a knack for solving technical problems under pressure and delivering systems that perform in the real world. Disillusioned by systemic inefficiencies in traditional energy systems, DeWeese pivoted to renewables—first hydrogen combustion, then green hydrogen production—and has since devoted his career to clean-tech solutions that work in demanding industrial settings. Before launching Tobe, DeWeese served as principal process engineer at Hydrogen Technologies, where he led the design and delivery of the first zero-emission hydrogen boiler of its kind.
“My dad taught me early on how to build things that solve real problems—and that mindset never left me,” DeWeese said. “With this technology, we’ve reimagined the internal workings of electrolysis to dramatically reduce waste heat and cost. And we’ve done it with American-made materials and a prototype that’s already running strong. It’s not just about innovation—it’s about building a more secure, scalable path to decarbonization.”
Tobe’s system operates at a roughly 75% reduction of capital costs compared to conventional electrolyzers. The company’s zero-emission hydrogen prototype has already logged 1,000 hours of runtime, with applications ranging from steel manufacturing and fertilizer production to long-term e-fuels development. Using its hydrogen in combination with atmospheric carbon dioxide, Tobe can create synthetic natural gas alternatives that are both emissions-free and, with federal tax credits, projected to be cheaper than fossil fuels by 2027.
“Tobe Energy represents the best of what we look for at Cortado—founder-led innovation grounded in deep technical expertise and built for Midcontinent deployment,” said Nathaniel Harding, Managing Partner at Cortado Ventures. “Their approach to cost-effective, domestically produced green hydrogen has enormous implications for energy security, industrial decarbonization, and the growth of Oklahoma as a clean energy hub.”
The technology also shows promise in next-gen energy storage—especially for AI data centers. By generating hydrogen during off-peak periods and converting it back to power, Tobe’s systems offer an ultra-efficient, zero-emission alternative to lithium-ion battery banks.
“Tobe’s technology represents a category-defining leap in clean energy,” said Dr. Caleb Lareau, a Harvard PhD and co-founder of Tobe Energy. “It’s rare to see a system that delivers both high efficiency and economic viability at this scale. We’re opening the door to hydrogen’s real potential—not just for fuel, but as the backbone of 21st-century energy storage.”
“Scaling breakthrough technology takes more than engineering—it takes trust, partnerships, and a clear path to market,” said Louis Mounsey, co-founder and Chief Commercial Officer at Tobe Energy. “Our customers are ready for solutions that make economic sense today while positioning them for a low-carbon future. With Cortado’s backing and our growing network of industrial partners, we’re moving fast to put this technology to work where it matters most.”
Mounsey leads Tobe’s go-to-market strategy, building partnerships and customer relationships worldwide. A chemical engineer and project management professional (PMP), his experience spans operations oversight for 34 gas plants, managing $100M+ energy projects, and driving record-breaking hydrogen business development in Europe as part of Arkema’s Molecular Sieves Division. His technical and commercial expertise bridges the gap between Tobe’s innovation and industrial deployment.
Tobe Energy is advancing regulatory certifications and has signed a memorandum of understanding with Zeeco to collaborate on its first hydrogen production pilot plant at Zeeco’s Advanced Research Complex in Broken Arrow, Oklahoma.
About Cortado Ventures:
Founded by a team of seasoned CEOs and industry veterans in 2020, Cortado Ventures is a venture capital firm that’s working to define the Midcontinent’s success story for generations to come. Going beyond raising capital to support businesses – Cortado’s deep experience as leaders and innovators helps their portfolio companies accelerate their growth through strategic planning, training, and guidance. With focused efforts on entrepreneurs and startups who are founder-led by people with innovative, disruptive ideas in the energy, mobility and logistics, manufacturing, and healthcare technology sectors that are a natural fit for the Midcontinent region. Learn more at cortado.ventures.
About Tobe Energy:
Tobe Energy reinvented electrolysis from the ground up to unlock a new era of clean, cost-effective hydrogen. The proprietary technology delivers dramatically higher efficiency than traditional systems, making zero-emission hydrogen viable for industrial use, 24/7 power, and the energy demands of tomorrow’s data-driven world. Founded by a team of engineers and scientists with deep experience in oil & gas, renewables, and deep tech, Tobe has spent years developing and building high-performance power electronics and a novel electrolysis system—minimizing energy losses, increasing throughput, and scaling with precision. Tobe doesn’t just build electrolyzers. They build hydrogen infrastructure—turnkey units capable of co-locating with data centers, industrial sites, and energy hubs to supply low-cost, clean hydrogen without the need for long-distance transport or storage. Tobe is now scaling production with a new manufacturing facility in Oklahoma, aiming to deliver their first 100 commercial units. Tobe believes the future of energy should be renewable, reliable, and financially rational. Hydrogen can get us there—if we build it right. Redefining Electrolysis. Delivering Scalable Green Hydrogen. Learn more at tobe.energy.
About Zeeco
Founded in 1979, Zeeco has steadily become the world leader in designing and manufacturing advanced combustion and environmental solutions. Headquartered in Tulsa, Oklahoma, USA, Zeeco is a privately held business with more than 3,000 employees and 30+ global locations. The company executes 10,000+ projects each year for refining, production, petrochemical, LNG, power, pharmaceutical, biogas, and other industries. ZEECO® products and solutions include ultra-low-NOx burners, flare systems, thermal oxidizers, vapor control, rentals, aftermarket solutions, global field services, and combustion electronics. Zeeco’s comprehensive offering helps customers reduce emissions, optimize processes, and maximize operating efficiency while meeting global environmental compliance requirements. Zeeco also operates the world’s largest combustion research and test facility and a manufacturing facility on a 250-acre campus at its Global Technology Center in Broken Arrow, Oklahoma, USA. Learn more at zeeco.com.
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Media Contact:
Anthony Triana, Saxum
405-818-0791