seeing green

Houston energy storage startup secures $10M in federal funding

Houston-based Quidnet Energy has secured funding from a Department of Energy program. Image via quidnetenergy.com

A Houston-based company that's got a solution to renewable energy storage has just secured funding from a federal entity.

The U.S. Department of Energy Advanced Research Projects Agency-Energy, or ARPA-E, is granting Quidnet Energy $10 million in funding, the Houston company announced this week. The funding is a part of the ARPA-E Seeding Critical Advances for Leading Energy technologies with Untapped Potential, the SCALEUP program. This initiative is aimed at providing funding to previous ARPA-E teams "that have been determined to be feasible for widespread deployment and commercialization domestically," per a news release.

“We’re honored that ARPA-E has selected Quidnet Energy as an awardee of the SCALEUP program,” says Joe Zhou, CEO of Quidnet Energy, in the release. “This funding will support continued work on our Geomechanical Pumped Storage (GPS) project with CPS Energy, which will demonstrate the benefits of using proven pumped hydro technology to create a long-duration energy storage resource that doesn’t require mountainous terrain. We look forward to continuing our partnership with CPS Energy and thank ARPA-E for acknowledging the potential of GPS for long-duration storage.”

The company's technology can store renewable energy for long periods of time in large quantities. The process includes storing pressurized water underground and, when the stored energy is needed, the water propels hydroelectric turbines and produces the electricity to support the grid at a fraction of the cost, per the news release. The concept is similar to existing gravity-powered pumped storage, but with less land required.

The fresh funding will be used toward Quidnet Energy’s ongoing project with San Antonio-based utilitary provider CPS Energy. This collaboration is scaling the company's GPS to a 1 MW/10 MWh commercial system, per the release, that will provide CPS Energy with over 10 hour long-duration energy storage system.

In 2020, Quidnet closed its $10 million series B financing round and secured a major contract with the New York State Energy Development Authority. The series B round included participation from Bill Gates-backed Breakthrough Energy Ventures and Canada-based Evok Innovations, which both previously invested in the company, as well as new investors Trafigura and The Jeremy and Hannelore Grantham Environmental Trust.

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Building Houston

 
 

Check out this curated list of innovation events in Houston for February. Photo via Getty Images

It's time to look at what's on the agenda for February for Houston innovators — from pitch competitions to networking events.

Here's a roundup of events not to miss this month. Mark your calendars and register accordingly.

Note: This post might be updated to add more events.

Feb. 8 — Digital Marketing Luncheon

Join Insperity, a partner of The Cannon, and digital marketing expert, Danny Gavin, at The Cannon Downtown for a lunch and learn.

The event is Wednesday, February 8, at noon, at The Cannon Downtown. Click here to register.

Feb. 9 — Innovation on Tap: Fred Higgs, Engineering at Rice University

Discuss research in the speaker’s engineering lab at Rice University on key Industry 4.0 technologies, namely additive manufacturing.

The event is Thursday, February 9, at 4 pm, at the Ion. Click here to register.

February 10 — Women in Leadership Conference 

The 23rd annual Women in Leadership Conference will be held in-person at Rice University. The conference has been a beacon of inspiration in the Houston community, empowering women to accomplish their career goals. In panel discussions and interactive workshops, attendees hear from leaders across different industries, explore various approaches to leadership, and discuss future opportunities for success.

The event is Friday, February 10, at 8 am, at McNair Hall at Rice University. Click here to register.

Feb. 15 — Real Talk from Real VCs

Join this event for a candid fireside chat on venture capital and its role in supporting and growing innovative startups.

The event is Wednesday, February 15, at 5:30 pm, at the Ion. Click here to register.

Feb. 16 — Engage VC: Lerer Hippeau

Lerer Hippeau is an early-stage venture capital firm founded and operated in New York City. Since 2010, they have invested in entrepreneurs who embody audacity, endurance, and winning mindset – good people with great ideas who aren't afraid to do hard things. Join the HX Venture Fund to hear Caitlin Strandberg, Partner at Lerer Hippeau discuss her perspective on how to build and scale a great company, what early-stage investors are looking for, why Houston, and market trends among other topics.

The event is Thursday, February 16, at 8:30 am, at the Ion. Click here to register.

Feb. 16 — Female Founders and Funders

Calling all rockstar female founders and investors in the Houston area. Mark your calendars for this month's Female Founders and Funders meetup. Coffee and breakfast is provided and the event is free to attend.

The event is Thursday, February 16, at 9 am, at Sesh Coworking. Click here to register.

Feb. 21 — Web3 & HOU: Demystifying the Web3 Space Panel I

Join us to learn more about Web3 and its numerous applications.

The event is Tuesday, February 21, at 6 pm, at the Ion. Click here to register.

Feb. 22 — The Trailblazer’s Guide to Cultivating Authenticity

In this fun and interactive workshop presented by Erica D’Eramo of Two Peirs Consulting, we’ll look at how to foster a leadership style that works for you, even in the absence of role models.

The event is Wednesday, February 22, at 2 pm, at Sesh Coworking. Click here to register.

Feb. 22 — Houston Startup Showcase

The Houston Startup Showcase is a year-long series of monthly pitch competitions. Founders will pitch at the Ion and compete for the grand prize package. Watch the startups pitch their company and see who the judges will name the champion of the Houston Startup Showcase 2023.

The event is Wednesday, February 22, at 6 pm, at the Ion. Click here to register.

Feb. 23 — Navigating Innovation in the Corporate World

Join us for a fireside chat with leaders from Houston's largest employers, including Microsoft and Chevron to discuss how they have navigated successful careers in technology and innovation.

The event is Thursday, February 23, at 11:30 am, at the Ion. Click here to register.

Feb. 27-March 2 — Houston Tech Rodeo

The Houston Tech Rodeo is a conference showcasing the best and brightest of the Houston startup community in the region and beyond by putting investors, entrepreneurs, industry leaders, and creative minds in a room to talk about the biggest innovations and the future of tech sandwiched by some happy hours and friendly competition.

The events run Monday, February 27, through Thursday, March 2, at various locations in Houston. Click here to register.

Note: This post might be updated to add more events.


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