green for green

Texas to get millions from infrastructure bill for environmental fixes

The Texas high-speed rail just got a boost. Photo courtesy of JR Central

On November 5, the U.S. House of Representatives passed the Infrastructure Investment and Jobs Act, legislation that's anticipated to produce hundreds of thousands of union jobs and transform the U.S. transportation system, with investments in passenger rail, roads, and bridges.

A release from Environment Texas, a grass-roots environmental group, shares some of the many positive effects the package is anticipated to have on Texas' transportation and power infrastructure, and its stores of clean water.

Key environmental provisions include:

  • Lead pipes removal. There are an estimated 270,000 lead service lines still in Texas. Texas is expected to receive $2.9 billion over five years. The state had 6000 sewage overflows in 2019, leading the American Society of Civil Engineers to give Texas' wastewater infrastructure a grade of D.
  • Building electric vehicle charging stations. Texas needs an estimated 12,400 level-2 charging stations and 1,720 level-3 "fast charging stations" by 2030 to meet projected demand. The state will receive $408 million over five years and can apply for $2.5 billion in grant funding.
  • Improve electric grid and power infrastructure. This is obviously something Texas sorely needs, after the great freeze in February 2021 when transmission constraints contributed to blackouts across the state, leading to curtailments of wind and solar energy.
  • New passenger and freight rail. Amtrak has proposed new rail service connecting Houston to Dallas, Fort Worth, Austin, San Antonio, while Texas Central is working to build high speed rail between Houston and Dallas. According to Environment Texas, these projects could potentially benefit from the new funding.
  • New public transit. The bill dedicates $39 billion to new public transit projects, described as the largest investment in public transit in history. Texas stands to receive $3.3 billion over five years, with likely recipients to include Houston's MetroNext and Austin's Project Connect.
  • Environmental remediation. Texas has 55 superfund sites, 32 abandoned mines, and 783,000 unplugged oil and gas wells. Oy.
  • More zero- and low-emission buses. At least 13 school districts in Texas have expressed interest in purchasing electric buses. Nine transit agencies in Texas have already, or plan to, purchase electric buses.

The legislature is still working on the Build Back Better Act, a budget reconciliation bill with clean energy tax incentives and other investments that would help the U.S. stall climate change and clean up our environment.

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This article originally ran on CultureMap.

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Building Houston

 
 

You can now hop online and invest in this promising cell therapy startup. Photo via Getty Images

A clinical-stage company headquartered in Houston has opened an online funding campaign.

FibroBiologics, which is developing fibroblast cell-based therapeutics for chronic diseases, launched a campaign with equity crowdfunding platform StartEngine. The platform lets anyone — regardless of their net worth or income level — to invest in securities issued by startups.

The funding, according to a press release, will be used to support ongoing operations of Fibrobiologics and advance its clinical programs in multiple sclerosis, degenerative disc disease, wound care, extension of life, and cancer.

"We're excited to partner with StartEngine on this campaign. StartEngine has over 600,000 investors as part of their community and has raised over half a billion dollars for its clients," says FibroBiologics' Founder and CEO Pete O'Heeron, in the release.

"This is an exciting time at FibroBiologics as we continue progressing our clinical pipeline and developing innovative therapies to treat chronic diseases," he continues. "This new funding will fuel our growth in the lab and bring us one step closer to commercialization."

The campaign, launched this week, already has over 100 investors, at the time of publication, and has raised nearly $2 million, according to the page. The minimum investment is set at around $500, and the company's indicated valuation is $252.57 million.

In 2021, FibroBiologics announced its intention of going public. Last year, O'Heeron told InnovationMap on the Houston Innovators Podcast of the company's growth plans as well as the specifics of the technology.

Only two types of cells — stem cells and fibroblasts — can be used in cell therapy for a regenerative treatment, which is when specialists take healthy cells from a patient and inject them into a part of the body that needs it the most. As O'Heeron explains in the podcast, fibroblasts can do it more effectively and cheaper than stem cells.

"(Fibroblasts) can essentially do everything a stem cell can do, only they can do it better," says O'Heeron. "We've done tests in the lab and we've seen them outperform stem cells by a low of 50 percent to a high of about 220 percent on different disease paths."


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