HOUSTON INNOVATORS PODCAST EPISODE 90

Local tech exec expands med device company into oil and gas in a 'uniquely Houston' way

Dan Purvis, CEO and founder of Velentium, is leading his growing company with culture in mind. Photo courtesy of Velentium

When asked about founding his company, the first thing Dan Purvis wants to talk about is the culture.

"The technology of today and the technology of 24 months from now will be very different," Purvis, CEO and founder of Houston-based Velentium, says on this week's episode of the Houston Innovators Podcast. "Being culture-forward allows us to make sure that the people we have on staff are able to flex with the industry."

Velentium was created to advance the next breakthrough medical device technology — all within the same company. Innovators and inventors don't have to go through the processes — from cybersecurity to manufacturing — by themselves.

"Our dream from day one was to create a one-stop shop here in Houston where new startups with IP can come to us and know that start to finish they would have their commercial device ready for approval with the FDA and that we were going to handle everything," Purvis explains.

These days, cybersecurity is top of mind for Velentium, as the technology Purvis and his team are working with include life and death situations. While IT and other software security is important, protecting patients using new medical devices is paramount.

"If you have a dog in your backyard and you have one hole in your fence, you're dog is going to get out," Purvis says."You can't have any holes in that fence. … Our design allows for that protection."

Following an acquisition of Magnolia, Texas-based Oasis Testing, a designer of automated test systems for the energy and manufacturing industries in January, Velentium has expanded to also work in oil and gas technology development. While completely different fields, Velentium says the entrance into this energy tech market has been smooth sailing.

"We really find that both sides of the company cross pollinate quite a bit, and I think that's something that's uniquely Houston," Purvis says.

He shares more about the expansion and how his company continues to grow on the episode. Listen to the full interview below — or wherever you stream your podcasts — and subscribe for weekly episodes.

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Building Houston

 
 

Fluence Analytics has exited to a multinational Japanese engineering and software giant. Image via FluenceAnalytics.com

A Houston company that provides analytics solutions within the chemicals industry has exited to a Japanese company.

Yokogawa acquired Fluence Analytics Inc. in a deal announced today. The terms of the deal were not disclosed and, effective immediately, the company operate as Yokogawa Fluence Analytics. Jay Manouchehri, who joined the company in 2022, will continue to serve as CEO of the entity.

“Combining forces with Yokogawa Electric enables us to capture the full value of our unique data sets, and we can't wait to deliver this added value to our customers," Manouchehri says in a news release. "Together, we will enable autonomous operations and digital transformation in the polymer and biopharma industries."

Founded in 2012 in New Orleans, Fluence Analytics moved to Houston in 2021 following a $7.5 million venture capital raise led by Yokogawa Electric Corp., which has its North American headquarters in Sugar Land.

The company's technology — automatic continuous online monitoring of polymerizations (ACOMP) product — provides real-time analytics solutions to polymer and biopharmaceutical companies worldwide. According to the company, its ACOMP product is the only commercially available system that can measure and analyze multiple polymer properties in real time, which leads to an improved system and less energy consumption and waste.

“Polymers are used in nearly every aspect of modern society in the form of plastics, rubber, paint, and so on," says Kenji Hasegawa, a Yokogawa Electric vice president and head of the Yokogawa Products Headquarters, in the release. "Combining Fluence Analytics' ACOMP system and other technology with our industry know-how will enable us to work with our customers to digitalize and automate polymerization processes that are currently monitored and adjusted manually.

"This will assist customers to improve worker safety, profitability, and environmental performance. We also plan to apply this technology to polymer re-use. We believe this is truly a game-changer for the industry,” he continues.

Fluence Analytics offices in Stafford, just southwest of Houston and has a team of 25 employees. Last fall, Fluence Analytics won in the Hardtech Category of the Houston Innovation Awards.

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