Vinegar Hill will be divided into a restaurant and a bar. Courtesy of Vinegar Hill

A new concept aims to give chefs on the rise a space to get their feet wet. Vinegar Hill Houston will serve three distinct roles when it opens in November: A co-working space by day, a bar by night, and an incubator for the next generation of culinary talent by design.

Axelrad owner Adam Brackman and chef Monica Pope have taken over the original location of Beaver's and are turning it into the new concept. Vinegar Hill's name is taken from a nickname for the area now known as the Old Sixth Ward. The co-working aspect will provide people who have been working at coffee shops with a more comfortable environment that better suits their needs. Design changes to the space will separate the restaurant from the bar. General manager Shawn Busch will work with the space's bar manager to maintain Beaver's reputation for innovative cocktails, but it's the incubator that's the most intriguing aspect.

Described as a chefs-in-residency program, the incubator will provide chefs with the opportunity to refine their concepts before committing to a brick and mortar. Pope will offer participants mentorship based on her experience operating restaurants such as t'afia and Sparrow Bar + Cookshop.

"I'm passionate about working with entrepreneurs," Brackman tells CultureMap. "At Axelrad we have regular pop-ups. It's been neat to see these entrepreneurs go from ideas to buying food trucks, seeing these people grow and flourish. It's kind of the next step in that process."

Chefs will create two menus during this residency. The first is a dinner menu for a 30-seat area within the space that will require reservations. In addition, the chef will offer a menu of casual bar bites designed to be served in the bar area and on the patio. Residencies will typically last for three months, but Brackman also sees the potential for chefs from out of town to use Vinegar Hill for a week or two as a way to market themselves to Houstonians prior to opening here.

At a time when chefs might be considering a stand in one of Houston's new food halls, Brackman sees the setup at Vinegar Hill as an alternative for the person who wants a less permanent arrangement.

"This will be more of their own private restaurant within a bar that will give them a full kitchen to work with and be creative with their own menu and have more of a captive audience," he says. "They can do things like have wine and beer pairings. It's going to be more intimate than a food hall experience."

Evelyn Garcia, a one-time Chopped champion who has earned a devoted following for her Southeast Asian-inspired pop-ups, will take the first turn in Vinegar Hill's kitchen. "The opportunity to take my craft from a tent and portable stoves into a full kitchen and dining room to showcase what I am capable of is a thrilling opportunity," said Garcia in a statement.

"We would like to seek out the next person. We have a couple in mind," Brackman says. "The perfect candidate is someone who wants their next move to be opening a brick and mortar. We want to help them through a bit of mentorship and even crowd funding."

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This story originally appeared on CultureMap.

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Houston quantum energy chip startup emerges from stealth with $12M round

seed funding

Houston-based Casimir has emerged from stealth with a $12 million seed round to commercialize its quantum energy chip.

The round was led by Austin-based Scout Ventures. Lavrock Ventures, Cottonwood Technology, Capital Factory, American Deep Tech, and Tim Draper of Draper Associates also participated in the round. The oversubscribed round exceeded the company’s original $8 million target, according to a news release.

Casimir’s semiconductor chips can generate power from quantum vacuum fields without the need for batteries or charging. The company plans to commercialize its first-generation MicroSparc chip by 2028.

The MicroSparc chip measures 5 millimeters by 5 millimeters and is designed to produce 1.5 volts at 25 microamps, comparable to a small rechargeable battery, without degradation and no replacement cycle.

“Casimir represents exactly the kind of breakthrough dual-use technology Scout Ventures was built to back,” Brad Harrison, founder and managing partner at Scout Ventures, said in the release. “This is based on 100 years of science and we’re finally approaching a commercial product … We’re proud to lead this round and support Casimir’s journey from applied science to deployed technology.”

Casimir says it aims to scale its technology across the ”full power spectrum,” including large-scale energy systems that can power homes, commercial infrastructures and electric vehicles.

Casimir's scientific work has been supported by DARPA-funded nanofabrication research and its technology was incubated at the Limitless Space Institute (LSI). LSI is a nonprofit that works to innovate interstellar travel and was founded by Kam Ghaffarian. Technology investor and serial entrepreneur Ghaffarian has been behind companies like X-energy, Intuitive Machines, Axiom Space and Quantum Space.

Harold “Sonny” White, founder and CEO of Casimir, believes the technology can power devices for years without replacements.

“Millions of devices will operate for years without a battery ever needing to be replaced or recharged because we have engineered a customized Casimir cavity into hardware capable of producing persistent electrical power,” White added in the release. “I spent nearly two decades at NASA studying how we power humanity’s future. That work led me to the Casimir effect and the quantum vacuum, where new tools have allowed us to build on a century of scientific knowledge and bring abundant power to the world.”

Houston-based Fervo Energy bumps up IPO target to $1.82 billion

IPO update

Houston-based geothermal power company Fervo Energy is now eyeing an IPO that would raise $1.75 billion to $1.82 billion, up from the previous target of $1.33 billion.

In paperwork filed Monday, May 11 with the U.S. Securities and Exchange Commission, Fervo says it plans to sell 70 million shares of Class A common stock at $25 to $26 per share.

In addition, Fervo expects to grant underwriters 30-day options to buy up to 8.33 million additional shares of Class A common stock. This could raise nearly $200 million.

When it announced the IPO on May 4, Fervo aimed to sell 55.56 million shares at $21 to $24 per share, which would have raised $1.17 billion to $1.33 billion. The initial valuation target was $6.5 billion.

A date for the IPO hasn’t been scheduled. Fervo’s stock will be listed on Nasdaq under the ticker symbol FRVO.

Fervo, founded in 2017, has attracted about $1.5 billion in funding from investors such as Bill Gates-founded Breakthrough Energy Ventures, Google, Mitsubishi Heavy Industries, Devon Energy (which is moving its headquarters to Houston), Tesla co-founder JB Straubel, CalSTRS, Liberty Mutual Investments, AllianceBernstein, JPMorgan, Bank of America and Sumitomo Mitsui Trust Bank.

Fervo’s marquee project is Cape Station in Beaver County, Utah, the world’s largest EGS (enhanced geothermal system) project. The first phase will deliver 100 megawatts of baseload clean power, with the second phase adding another 400 megawatts. The site can accommodate 2 gigawatts of geothermal energy. Fervo holds more than 595,000 leased acres for potential expansion.

Cape Station has secured power purchase agreements for the entire 500-megawatt capacity. Customers include Houston-based Shell Energy North America and Southern California Edison.

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This article originally appeared on our sister site, EnergyCapitalHTX.com.