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3 Houston innovators to know this week

This week's Houston innovators to know include Megan Eddings and Amanda Cotler of Accel Lifestyle and Brad Burke of Rice Alliance. Photos courtesy

It seems like 2020 is the year of the pivot and taking what the world has thrown at you —from pandemics to oil gluts — and making something out of what you have.

This week's innovators to know include a Houston startup flipping the switch on production to make face masks to the Rice Alliance re-envisioning an annual event that usually takes place at a global conference.

Megan Eddings and Amanda Cotler of Accel Lifestyle

Photos courtesy

When Megan Eddings and Amanda Cotler saw the CDC was recommending medical professionals wear bandanas or strips of cloth when surgical face masks weren't available, they had an idea.

The duo behind Accel Lifestyle, a Houston-based athletic wear startup that has a bacteria-resistent fabric, hopped on a call to see how they could rework their supply chain to quickly pivot to making face masks.

When setting up the company, Eddings, Accel's founder, made it a priority to avoid sweatshops, and she set up her supply chain to be completely within the United States — something that's been beneficial to the company's COVID pivot.

"If we did not have a 100 percent domestic supply chain, there's no way we could have done this," Eddings says.

Eddings and Cotler joined the Houston Innovators Podcast to share the story of how Accel went from deciding to make the masks to selling them by the thousands to Houston Methodist.

"When you think of face masks, you wouldn't think about activewear or thinking of Accel being a part of the fight against coronavirus," Cotler says. However, that might no longer be the case for the company now. Click here to learn more and to stream the podcast episode.

Brad Burke, managing director of the Rice Alliance for Technology and Entrepreneurship

Photo via alliance.rice.edu

Rice Alliance for Technology and Entrepreneurship typically hosts their Energy Tech Venture Day from the one of the halls within NRG Arena at the annual Offshore Technology Conference. However, the conference that attracts thousands of people from around the world, much like so many events, was canceled due to coronavirus.

But Brad Burke and his team at the Rice Alliance turned to tech to introduce the first virtual event, which then took place on Thursday, May 7. Burke introduced the event that had 39 startups that represented 11 different states and six different countries, 13 call Houston their HQ.

"We had many startups and corporations reach out to us and ask us if we could go ahead with the event in a virtual format, so that's how we ended up where we are today," says Burke. Click here to read more.

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Building Houston

 
 

Just after announcing an investment from United, NEXT Renewable Fuels Inc. scored a SPAC-based IPO. Photo via nextrenewables.com

It’s been a momentous month for Houston-based NEXT Renewable Fuels Inc.

On November 15, United Airlines Ventures announced an investment of up to $37.5 million in the next-generation, low-carbon fuel producing company.

Just a week later, the company revealed it’s going public through a SPAC merger with Industrial Tech Acquisitions II Inc. The deal, expected to close in the second quarter of 2023, assigns a $666 million equity value to NEXT. The publicly traded company will be named NXTCLEAN Fuels Inc.

NEXT, founded in 2016, produces low-carbon fuels from organic feedstock. The company plans to open a biofuel refinery in Port Westward, Oregon, that’s set to start production in 2026. The refinery could produce up to 50,000 barrels per day of sustainable aviation fuel, renewable diesel, and other renewable fuels.

“West Coast states are demanding a clean fuels conversion of the transportation and aviation industries with aggressive targets necessitating rapid increases in clean fuel supplies,” Christopher Efird, executive chairman and CEO of NEXT, says in a news release. “[The company] is advancing toward becoming one of the largest U.S.-based suppliers of clean fuels for these markets, and is investigating and pursuing potential vertical expansion into other clean fuels.”

The proposed public listing of NEXT’s stock on the Nasdaq market and United’s investment are poised to help NEXT reach its goal of becoming a leader in the clean fuel sector. United’s investment appears to be the first equity funding for NEXT.

“Right now, one of the biggest barriers to increasing supply and lowering costs of sustainable fuel is that we don’t have the infrastructure in place to transport it efficiently, but NEXT’s strategic location and assets solve that problem and provide a blueprint for future facilities that need to be built,” Michael Leskinen, president of United Airline Ventures, says in a news release.

United’s investment arm, launched in 2021, targets ventures that will complement the airline’s goal of achieving net-zero emissions by 2050.

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