Houston innovators podcast episode 116

Houston DEI-focused startup plans to scale amid rapidly changing energy sector

Katie Mehnert joins the Houston Innovators Podcast to discuss the future of energy amid a pandemic, climate change, the Great Resignation, and more. Photo via Katie Mehnert

The energy industry — like the rest of the workforce — is facing an unprecedented combo of challenges. First, there's a persistent pandemic that has spurred what's now known as The Great Resignation. Additionally, the sector is addressing climate change and all the challenges that comes with transitioning the entire industry.

As daunting as this plethora of obstacles can seem, Katie Mehnert is confident her business is equip to help energy companies large and small to prepare their workforce. She founded ALLY Energy to be a platform to support diversity, equity, and inclusion within energy companies as they move forward within the sector's transition.

"We need to start working together as allies to drag this new future forward around the energy transition and energy economy," Mehnert says on this week's episode of the Houston Innovators Podcast. "It is absolutely imperative that the business community, the academic community, and grassroots organizations on the ground are connecting people to these new economic opportunities. The green economy represents a huge shift for Houston.

Mehnert explains how she started ALLY Energy — originally founded as Pink Petro — to move forward DEI initiatives, and she says she started with building an audience first and foremost, but now the technology part of the platform has fallen into place too. Last summer, ALLY Energy acquired Clean Energy Social, which meant doubling its community while also onboarding new technology. On the episode, Mehnert reveals that this new website and platform is now up and running.

"We launched the integrated product a few weeks back," Mehnert says. "The whole goal was to move away from technology that wasn't serving us."

Now, moving into the new year, Mehnert is building the team the company needs. She says she hopes to grow ALLY from two employees to 10 by the end of the year and is looking for personnel within customer support, product developers, and sales and service. While ALLY is revenue generating, she also hopes to fundraise to further support scaling.

Mehnert discusses her plans for 2022 as well as how she's seen the energy industry and innovation ecosystem evolve in Houston and beyond on the podcast. Listen to the full interview below — or wherever you stream your podcasts — and subscribe for weekly episodes.

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Building Houston

 
 

This Houston-based SPAC has announced the tech company it plans to merge with. Photo courtesy of Gow Media

A Houston SPAC, or special purpose acquisition company, has announced the company it plans to merge with in the new year.

Beaumont-based Infrared Cameras Holdings Inc., a provider of thermal imaging platforms, and Houston-based SportsMap Tech Acquisition Corp. (NASDAQ: SMAP), a publicly-traded SPAC with $117 million held in trust, announced their agreement for ICI to IPO via SPAC.

Originally announced in the fall of last year, the blank-check company is led by David Gow, CEO and chairman. Gow is also chairman and CEO of Gow Media, which owns digital media outlets SportsMap, CultureMap, and InnovationMap, as well as the SportsMap Radio Network, ESPN 97.5 and 92.5.

The deal will close in the first half of 2023, according to a news release, and the combined company will be renamed Infrared Cameras Holdings Inc. and will be listed on NASDAQ under a new ticker symbol.

“ICI is extremely excited to partner with David Gow and SportsMap as we continue to deliver our innovative software and hardware solutions," says Gary Strahan, founder and CEO of ICI, in the release. "We believe our software and sensor technology can change the way companies across industries perform predictive maintenance to ensure reliability, environmental integrity, and safety through AI and machine learning.”

Strahan will continue to serve as CEO of the combined company, and Gow will become chairman of the board. The transaction values the combined company at a pre-money equity valuation of $100 million, according to the release, and existing ICI shareholders will roll 100 percent of their equity into the combined company as part of the transaction.

“We believe ICI is poised for strong growth," Gow says in the release. "The company has a strong value proposition, detecting the overheating of equipment in industrial settings. ICI also has assembled a strong management team to execute on the opportunity. We are delighted to combine our SPAC with ICI.”

Founded in 1995, ICI provides infrared and imaging technology — as well as service, training, and equipment repairs — to various businesses and individuals across industries.

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