grand opening

Photos: Greentown Labs opens its doors in Houston

Mayor Sylvester Turner, Greentown Labs CEO Emily Reichert, and other guests celebrated the grand opening of Greentown Houston on Earth Day. Photo by Lee Bond/Greentown Labs

On a day that was years in the making, Greentown Labs opened the doors to its new Houston outpost in Midtown yesterday on Earth Day.

The Greentown Houston grand opening event, which was steamed online with limited in-person and outdoor attendance, celebrated the organization's first location outside Somerville, Massachusetts.

"This is a tremendous, tangible milestone not only for Greentown Labs but also for the City of Houston and the energy transition," says Dr. Emily Reichert, CEO of Greentown Labs, in a news release. "Five years ago, climate change wasn't a topic among many conversations in Houston. Things have changed.

"Today, we are so proud to open our second-ever location in the energy capital of the world and we're eager to accelerate the energy transition over the next 10 years," she continues. "Houston is buzzing with incredible climatetech startups, world-leading energy organizations, and a thriving investment community. At Greentown Houston, we aim to bring the ecosystem together and collaborate toward our decarbonized future."

Missed the event? Click here for some significant overheard moments from the Greentown Houston Grand Opening.

The organization also announced new members to its network of partners, including bp, Intel Corporation, Mitsubishi Heavy Industries, White Deer Energy, Ara Partners, Bechtel Corporation, and Mitsubishi Corporation (Americas).

In addition to corporate partners and inaugural startup members, Mayor Sylvester Turner attended the event and welcomed Greentown to Houston.

"There's no better way to celebrate the first anniversary of the Houston Climate Action Plan than to open Greentown Labs Houston," says Mayor Turner. "Attracting and nurturing the next generation of energy companies is a critical piece of our city's ambition to lead the global energy transition. The Climate Action Plan calls for creating 50 Energy 2.0 companies, and thanks to Greentown Labs, we are already halfway there. We are grateful for Greentown Labs and their partners for helping Houston meet our climate goals and become the energy capital of the future."

The 30 inaugural startups will soon move into space in accordance to social distancing. Take a sneak peek at the new facility in the slideshow below.

Celebrating the grand opening

Photo by Natalie Harms/InnovationMap

The grand opening event was streamed online and welcomed select masked guests in-person and outdoors.


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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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