underground business

Houston company creates platform to help protect people's mineral rights

A group of Houston entrepreneurs have created a technology to advocate for mineral rights owners. Photo via Getty Images

When a landman used predatory tactics to lure his grandma into selling her mineral rights, a Houston entrepreneur stepped in, and now he's empowering landowners with knowledge and advocating for transparency for mineral buying in the oil and gas industry.

"Whether a potential seller conducts a sale with us or not, our goal is to educate families through RevereNet so they can understand what is happening in the market and protect themselves financially," says Colton Robey, co-founder and senior vice president of Revere Resources.

Robey teamed up with other leaders in the oil, tech, and finance industries to found Revere Resources to help landowners like his grandmother make the right decisions for their assets. Their recently launched online resource, RevereNet, provides a dollar figure and geographic view of an owner's mineral composition along with the historical value and extensive data on wells and well locations, giving owners the information they need to get the best deal.

"Our team has all worked in different capacities at different private equity-backed mineral rights funds," says Robey. "And it all came together after somebody tried to buy my grandmother's mineral rights unjustly, it wasn't until that moment that I realized that bad actors are prevalent in the industry."

Robey and his partners are guided by the guiding principle of transparency and honesty, even going as far as helping clients get better deals with other mineral buying companies if they beat their price.

"The data we collect allows us to gain a whole picture of the deal, so often of times we're not their natural highest bidder," says Robey. "However, we know the ins and out of the business and have helped our clients find better deals."

With RevereNet, they add a whole new layer of technology that is seldom seen in the archaic mineral rights sector, allowing landowners to check the value of their assets as easy as checking their stock portfolio.

"We believe this market is ripe for new technology," says Robey. "There are a lot of dinosaurs in this industry that need change, we collect tons of data and our online resource gives valuable information for free 365 days a week and 24/7 which definitely makes us more tech-driven than a lot of folks."

The project, which was already in production when the coronavirus pandemic changed the way we live and work, was rolled out quickly to meet landowner's immediate needs for data.

"We knew that during this time on uncertainty, a lot of people might be looking to divest," says Robey. "We're not brokers or flippers, we're long-term investors, and as mineral rights owners ourselves, I think that puts us in a different boat that other mineral rights companies."

With the successful launch of RevereNet, the team hopes to expand their efforts into new frontiers — getting this service into the hands of everyone in Texas.

"We know that only comes with people getting comfortable with learning what it is they own," says Robey. "We hope that over time we can educate landowners that can give them the confidence to manage their assets in the best financially beneficial way possible for them and their families."

The Revere Resources team wants to get all Texans on RevereNet. Photo courtesy of Revere

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Building Houston

 
 

This week's roundup of Houston innovators includes Brad Burke of the Rice Alliance, Trevor Best of Syzygy Plasmonics, and Nicolaus Radford of Nauticus Robotics. Photos courtesy

Editor's note: In this week's roundup of Houston innovators to know, I'm introducing you to three local innovators across industries — from photonics to robotics — recently making headlines in Houston innovation.

Brad Burke, managing director of the Rice Alliance for Technology and Entrepreneurship

Brad Burke joins this week's Houston Innovators Podcast. Photo via alliance.rice.edu

Collaboration has made a world of a difference for growing Houston's innovation ecosystem, according to Brad Burke, managing director of the Rice Alliance for Technology and Entrepreneurship.

"I think Houston has this culture of collaboration that I suspect that some other major cities don't have in the same way," Burke says on the Houston Innovators Podcast. "And while we're a big city, the entrepreneurial ecosystem feels like a small network of a lot of people who work really well together."

Burke has played a major role in the collaboration of Houston for the past 20 years leading the Rice Alliance, which coordinates many event programs and accelerators — including the Rice Business Plan Competition, energy and life science forums, the Clean Energy Accelerator, Owl Spark, Blue Launch, and more. Click here to read more.

Trevor Best, CEO and co-founder of Syzygy Plasmonics

A new partnership for Houston-based Syzygy will generate 1.2 million tons of clean hydrogen each year in South Korea by 2030. Image via Syzygy

Houston-area energy tech startup Syzygy Plasmonics is part of a new partnership that will develop a fully electric chemical reactor for production of clean hydrogen in South Korea.

The reactor will be installed in the second half of 2023 at Lotte Fine Chemical’s facilities in Ulsan, South Korea. Lotte Fine Chemical, Lotte Chemical, and Sumitomo Corporation of Americas are Syzygy’s partners in this venture.

“Simply improving existing tech isn’t enough to reach the world’s decarbonization goals. Stopping climate change will require industries to reimagine what is possible,” Syzygy co-founder and CEO Trevor Best says in a news release. “Our technology expands the accepted paradigms of chemical engineering. We have demonstrated the ability to replace heat from combustion with renewable electricity in the manufacture of foundational chemicals like hydrogen.” Click here to read more.

Nicolaus Radford, CEO and founder of Nauticus Robotics

Houston-based Nauticus Robotics has hit the public market. Image via LinkedIn

Fresh off its September 13 debut as a publicly traded company, Webster-based Nauticus Robotics Inc. is aiming for $90 million in revenue next year as it dives deeper into the ocean economy.

The stock of Nauticus now trades on the NASDAQ market under the ticker symbol KITT. Nauticus went public following its SPAC (special purpose acquisition company) merger with New York City-based CleanTech Acquisition Corp., a “blank check” company that went public in July 2021 through a $150 million IPO. The SPAC deal was valued at $560 million when it was announced in December.

Nauticus continues to be led by CEO Nicolaus Radford and the current executive team.

“The closing of this business combination represents a pivotal milestone in our company’s history as we take public our pursuit of transforming the ocean robotics industry with autonomous systems,” says Radford, who founded what was known as Houston Mechatronics in 2014. “Not only is the ocean a tremendous economic engine, but it is also the epicenter for building a sustainable future.” Click here to read more.

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