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Overheard: Here's where Houston's low-carbon efforts stand, according to the experts

From the potential for electric vehicle growth to the role of corporates, experts joined a panel to discuss the progress of Houston's low-carbon energy initiatives. Photo by Katya Horner

Houston is moving the needle on low-carbon initiatives, as one panel agreed at the Center for Houston's Future's Low-Carbon Energy Innovation Summit.

The annual event, which is taking place virtually this year, was broken up into two days. The first installment focused on low-carbon markets on October 8. This week on October 15, the virtual programming will cover Houston's energy ecosystem.

While the day of low-carbon programming zeroed in on specifics within the subject, one panel zoomed out to check in on Houston's progress. Brett Perlman, president and CEO for the center for Houston's Future, moderated the discussion, which featured five energy experts. Here are some highlights from the panel.

“We’ve identified 200 companies in Houston that we would call energy 2.0 companies — solar, wind, energy stories, and other energy and clean tech companies. So, there’s already a lot happening.”

— Bob Harvey, president and CEO of the Greater Houston Partnership.

“While innovation and the energy transition are not the same thing, they are close cousins. Innovation is about change and new businesses and how they work with incumbent businesses, so when you think about the transition, you have to include both of them.”

— Barbara Burger, Chevron's vice president of innovation and president of Chevron Technology Ventures.

“Hurricane Harvey was a point where so much changed. Everything I do in my job changed. We went from climate being talked about discretely to something we can’t not talk about. It’s in every conversation whether we like it or not.”

— Lara Cottingham, chief of staff and chief sustainability officer for the city of Houston.

“This is a global challenge, but Houston is a global leader. We really want to be hands on and tackle this to keep Houston in that leadership role.”

— Cottingham continues.

“Houston has the engineering expertise and experience doing energy at scale. Frankly, we need that set of expertise at the table.”

— Emily Reichert, CEO of Greentown Labs, which recently expanded to Houston.

“We’d like to see 30 percent of new vehicle sales be electric vehicles by 2030. I think we’ll get there much sooner.”

Chris George, president and executive director of EVolve Houston.

“Houston is very important and significant because of our relation to the port. Whether it’s looking at hydrogen trucking for long haul trips or looking at reducing logistics cost for manufacturing and assembly, Houston has everything to offer.”

George continues.

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Building Houston

 
 

VR training startup, HTX Labs, has raised funding from an outside investor for the first time. Courtesy of HTX Labs

HTX Labs, a Houston-based company that designs extended reality training for military and business purposes, announced last week that it has raised its first outside capital.

The company has received a $3.2 million investment from Cypress Growth Capital. Founded in 2017, HTX Labs — developer of the EMPACT Immersive Learning Platform — has been granted funding from the Department of Defense as well as grown its client base of commercial Enterprises. The platform uses virtual and extended reality that "enables organizations to rapidly create, deploy, measure, and sustain cost-effective, secure, and centralized immersive training programs, all within engaging, fully interactive virtual environments," per a news release.

“We have been looking to secure outside capital to accelerate the growth of our EMPACT platform and customer base but we hadn’t found the right partner who provided an investment vehicle that matched our needs,“ says HTX Labs CEO Scott Schneider in the release. “We found everything we were looking for in Cypress Growth Capital. They have a non-dilutive funding model that aligns with our capital expectations and have the level of experience that really makes this smart money.

"Cypress has a decade-long track record of success in helping emerging software and services companies achieve scale," he continues. "It is clear that the team’s collective entrepreneurial and operating experience will be of tremendous benefit to us as we focus on expanding our customer base in a very intentional way.”

The fresh funding will go toward growing and scaling the company's operations — both within the current Department of Defense and expansion opportunities into key commercial markets, like heavy industry, manufacturing, and higher education. Additionally, the funding will support increased customer adoption.

“Scott and his team have built an exceptional business that is poised for dramatic growth,” says Cypress Partner Pat McCaffrey in the release. “HTX Labs’ modern, immersive training solution provides clients with a force multiplier for modernizing training and an unmatched ROI.”

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