Branch Energy aims to provide customers with clean energy at a lower cost than competitors. Photo via Getty Images

A tech-driven retail energy provider based in Houston has secured an oversubscribed series A round of funding.

Branch Energy raised a $10.8 million round led by climate-focused venture capital firm Prelude Ventures with co-investor Zero Infinity Partners, an infrastructure tech-focused firm. The fresh funding will go toward accelerating the company's battery management tech and build out the infrastructure of its field services.

A vertically integrated power provider, Branch Energy aims to provide customers with demand management software and battery storage systems to ensure long-term, stable, and clean energy at a lower cost than competitors.

“Our century-old grid design is not equipped for the complexity of today’s energy needs," Alex Ince-Cushman, Branch Energy co-founder and CEO, says in a news release. “Optimizing distributed energy assets in real-time will play an increasingly important role in managing the grid. We built Branch from the ground up as a technology company, allowing us to deliver value to customers in this new era of distributed energy by reducing costs while improving reliability."

The company chose Texas as its inaugural market based on the stress of the grid in the state, the company says in the release. Since 2021 when Branch Energy launched, it has signed up thousands of customers for its 100 percent clean energy service. The business proposition includes lowering customer's energy bills by 5 to 10 percent.

“The power grid, especially in Texas, requires distributed generation and flexible loads as basic economics drives deployment of more renewable resources,” Tim Woodward, managing partner at Prelude Ventures, adds. “Across the country, we are experiencing a major shift toward a decentralized and decarbonized grid. Branch Energy is bringing value to its customers through deployment of intelligent storage that lowers costs and improves reliability.”

Branch Energy, which is available now in some Texas regions, had previously raised $5.5 million in seed and pre-seed funding, per Crunchbase.

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This article originally ran on EnergyCapital.

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Intel Corp. and Rice University sign research access agreement

innovation access

Rice University’s Office of Technology Transfer has signed a subscription agreement with California-based Intel Corp., giving the global company access to Rice’s research portfolio and the opportunity to license select patented innovations.

“By partnering with Intel, we are creating opportunities for our research to make a tangible impact in the technology sector,” Patricia Stepp, assistant vice president for technology transfer, said in a news release.

Intel will pay Rice an annual subscription fee to secure the option to evaluate specified Rice-patented technologies, according to the agreement. If Intel chooses to exercise its option rights, it can obtain a license for each selected technology at a fee.

Rice has been a hub for innovation and technology with initiatives like the Rice Biotech Launch Pad, an accelerator focused on expediting the translation of the university’s health and medical technology; RBL LLC, a biotech venture studio in the Texas Medical Center’s Helix Park dedicated to commercializing lifesaving medical technologies from the Launch Pad; and Rice Nexus, an AI-focused "innovation factory" at the Ion.

The university has also inked partnerships with other tech giants in recent months. Rice's OpenStax, a provider of affordable instructional technologies and one of the world’s largest publishers of open educational resources, partnered with Microsoft this summer. Google Public Sector has also teamed up with Rice to launch the Rice AI Venture Accelerator, or RAVA.

“This agreement exemplifies Rice University’s dedication to fostering innovation and accelerating the commercialization of groundbreaking research,” Stepp added in the news release.

Houston team develops low-cost device to treat infants with life-threatening birth defect

infant innovation

A team of engineers and pediatric surgeons led by Rice University’s Rice360 Institute for Global Health Technologies has developed a cost-effective treatment for infants born with gastroschisis, a congenital condition in which intestines and other organs are developed outside of the body.

The condition can be life-threatening in economically disadvantaged regions without access to equipment.

The Rice-developed device, known as SimpleSilo, is “simple, low-cost and locally manufacturable,” according to the university. It consists of a saline bag, oxygen tubing and a commercially available heat sealer, while mimicking the function of commercial silo bags, which are used in high-income countries to protect exposed organs and gently return them into the abdominal cavity gradually.

Generally, a single-use bag can cost between $200 and $300. The alternatives that exist lack structure and require surgical sewing. This is where the SimpleSilo comes in.

“We focused on keeping the design as simple and functional as possible, while still being affordable,” Vanshika Jhonsa said in a news release. “Our hope is that health care providers around the world can adapt the SimpleSilo to their local supplies and specific needs.”

The study was published in the Journal of Pediatric Surgery, and Jhonsa, its first author, also won the 2023 American Pediatric Surgical Association Innovation Award for the project. She is a recent Rice alumna and is currently a medical student at UTHealth Houston.

Bindi Naik-Mathuria, a pediatric surgeon at UTMB Health, served as the corresponding author of the study. Rice undergraduates Shreya Jindal and Shriya Shah, along with Mary Seifu Tirfie, a current Rice360 Global Health Fellow, also worked on the project.

In laboratory tests, the device demonstrated a fluid leakage rate of just 0.02 milliliters per hour, which is comparable to commercial silo bags, and it withstood repeated disinfection while maintaining its structure. In a simulated in vitro test using cow intestines and a mock abdominal wall, SimpleSilo achieved a 50 percent reduction of the intestines into the simulated cavity over three days, also matching the performance of commercial silo bags. The team plans to conduct a formal clinical trial in East Africa.

“Gastroschisis has one of the biggest survival gaps from high-resource settings to low-resource settings, but it doesn’t have to be this way,” Meaghan Bond, lecturer and senior design engineer at Rice360, added in the news release. “We believe the SimpleSilo can help close the survival gap by making treatment accessible and affordable, even in resource-limited settings.”