calling all energy entrepreneurs

New energy tech startup accelerator has its eyes on Houston

A new energy tech startup accelerator on the East Coast plans to tap into the Houston innovation ecosystem. Getty Images

Houston is on the radar of a newly formed startup accelerator that concentrates on companies in the energy sector and other commodities markets.

The Stamford, Connecticut-based accelerator, PointForward LLC, is seeking startups for its inaugural 12-week accelerator program, which kicks off in June. While the program will take place in Stamford, PointForward hopes to attract applicants from Houston. Each team accepted by the program will receive up to $100,000 in funding, along with mentoring and access to business resources, in exchange for a 7 percent equity stake.

"We are looking for early stage companies focused on a range of offerings — such as trading, logistics, and technology — related to the energy and commodity markets that can achieve high growth and scale," says Greg Schindler, founder of PointForward. "In particular, we are seeking companies where our network of industry contacts, including potential investors and customers, can provide key leverage."

In April, PointForward plans to choose three to six teams for its first accelerator program. Schindler says PointForward is willing to accommodate logistical challenges posed by a startup's critical people being located in, say, Houston but being asked to spend 12 weeks in Stamford.

"We understand that some companies may be working on physical products and may find it difficult to bring all the founders up to Stamford. That's OK," he says. "However, key members of each team should plan to be on site in Stamford for the full 12 weeks. This helps establish a vibrant founder community. We also understand if founders need to travel between Houston and Stamford."

PointForward plans to host demo days this September in Houston and New York City where startup teams will make pitches to potential investors.

Freepoint Commodities LLC, a commodities merchant based in Stamford, launched PointForward. Freepoint employs about 50 people in Houston, which is the headquarters of its retail energy business, Freepoint Energy Solutions LLC. Freepoint Commodities started that subsidiary in 2017.

"Houston is at the heart of the energy world," Schindler says, "and is extremely important to our efforts."

Freepoint Energy Solutions currently operates in Connecticut, the District of Columbia, Delaware, Illinois, Massachusetts, Maryland, Maine, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, and Texas. The company entered Texas' commercial and industrial electricity market in July 2018.

Freepoint Commodities recently signed a deal with the Texas GulfLink LLC subsidiary of Sentinel Midstream LLC, based in the Dallas-Fort Worth suburb of Richardson, for construction and operation of a deepwater crude oil export facility near the Brazoria County town of Freeport. Texas GulfLink has an office in Houston.

The Texas GulfLink facility will include an onshore oil storage terminal connected by a 42-inch pipeline to a manned platform about 37 miles off the Texas Gulf Coast. From the platform, crude oil will be transported to two buoys, enabling large vessels to load as many as 85,000 barrels of oil per hour.

The Houston metro area is projected to see a $751.8 million economic lift from construction of Texas GulfLink and related facilities.

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Building Houston

 
 

Welcome to Houston, Lalamove. Photo by @HoustonTips

Holiday shopping is in full swing, and the bane of everyone's existence — especially during a pandemic — is shipping.

For smaller and mid-sized local businesses, that means paying big-business prices to a national shipping company. And for consumers, it's waiting a week or more to receive your item, even if you paid for shipping.

Lalamove has a solution for both parties. The 24/7 on-demand delivery app recently launched in Houston and offers affordable, same-day delivery services for the local merchants we're all trying to support right now.

"Amidst COVID-19, it is more important than ever to shop local and support our small businesses," says Lalamove's international managing director, Blake Larson. "We look forward to providing our services to Houston businesses in need of a fruitful start to the holiday season."

Unlike other delivery options, Lalamove delivers everything from food to small packages to bulky furniture within the same day, and it operates on a base-plus-miles pricing model with no commissions.

Deliveries in a sedan start at $8.90, with $1 per additional mile. SUV pricing has a base fare of $16.90 plus $1.25 per mile. Other same-day delivery options with national shipping companies can be well over $100 dollars, depending on the size and weight of the package.

Neighborhood-to-neighborhood sedan pricing is more affordable than traditional same-day shipping: Museum District to Midtown is $9.90, Midtown to The Heights is $14.90, and Northside to East Downtown is $17.90.

This also contrasts with food delivery platforms that charge restaurants 15-30 percent commission on the entire order; with Lalamove, the delivery charge for a $25 meal is the same as a $150 meal.

Users and businesses can place an order via the Lalamove app or on its website, which is available 24/7. When placing your order, you are instantly matched with a driver and their car, based on your delivery needs. You can deliver to (or order from) up to 20 locations in one order with the multi-stop delivery feature, and can schedule a delivery in advance or book for right then.

Lalamove app Using Lalamove is simple. Graphic courtesy of Lalamove

Shoppers can request Lalamove's services with local boutiques and stores that don't normally offer delivery, and get instant gratification (and a much smoother holiday season) with same-day delivery.

Both sides can rest easy knowing that things will arrive in time for the holidays in a trusted, secure, and quick fashion.

To help small businesses provide fast, reliable delivery throughout the holidays, Lalamove is offering $10 off with promo code LACMHOU10. Business owners can try out the service, or customers can take advantage of Lalamove if they need delivery.

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