Founders, investors sound off on Houston's VC scene, energy innovation potential, and more

EAVESDROPPING in Houston

Hit the highlights of Venture Houston 2023 with these overheard moments from the event. Photo courtesy of HX Venture Fund

Last week, nearly 1,000 people convened in Houston to discuss venture capital activity, startups, and decarbonization, and the Houston factor among it all.

On September 7, Venture Houston hosted several keynote addresses and panels throughout the day's programming, and investors from across the country discussed with Houston-based startup and corporate leaders on topics from seed funding to cultivating an ecosystem.

The annual event, presented by HX Venture Fund, a fund of funds that deploys capital into VC funds with an interest in Houston, had one significant through line throughout the day, and it was Houston's role within innovation and the energy transition.

Whether you missed the event or were there to soak in every second, here's a roundup of key statements on this topic from the panelists.

“We mapped out Texas as a high priority because we knew you can’t do energy without Texas. You can’t do energy without Houston."

— Carmichael Roberts, investment committee co-lead for Breakthrough Ventures. "The opportunity that Houston has to be the unambiguous leader is because everywhere else can do energy transition, but they still can’t do what Houston does,” he continues.

“There’s no better place in the world than Houston to build and scale a climate tech startup.”

— Tim Latimer, CEO and co-founder of Fervo Energy. “But I don’t know if I’m ready to make the claim that we’re the best place to start a business,” he adds.

“Houston needs that first, higher-profile investor who’s Houston-based, Houston-first, and wants to put as much capital as possible into energy transition and climate tech companies.”

— Craig Wilson, managing director of NYU’s Tandon Future Labs. “Houston is blessed with an incredible amount of CVC and late stage capital," he continues. "What it really could use is early stage capital.”

“There are a couple aspects you need for an ecosystem, and Houston has been putting a lot of those in place, but it’s not perfect yet, and there’s still work that this ecosystem needs to do."

— Trevor Best, CEO and co-founder of Syzygy Plasmonics. Startups need talent, facilities, capital, and customers. “Here in Houston, for energy transition technologies, I don’t know if there’s an ecosystem that can check the box (for customers) stronger than Houston," he adds, explaining that talent is here too. Where Houston needs improvement, according to Best, is in facilities, which is seeing some progress, and capital development.

“I think Houston is actually the perfect place for becoming the energy transition capital. If you ask me, I think we already are.” 

— Andrea Course, venture principal of Shell Ventures. “It really just takes people doing what we’re doing now to make it even greater," she adds.

“We have to figure out ways for how big energy companies work with new technology providers in partnership and not say it’s a David versus Goliath thing.”

— Gaurab Chakrabarti, co-founder and CEO of Solugen. “That’s a philosophical misalignment,” he continues. “Instead of saying it’s an absolute problem, accept that it’s a transition.”

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Axiom Space taps solar array developer for first space station module

space contract

Houston-based Axiom Space is making progress on developing its commercial space station.

The company awarded Florida-based Redwire Corporation a contract to develop and deliver roll-out solar array (ROSA) wings to power the Axiom Payload Power Thermal Module (AxPPTM), which will be the first module for the new space station.

AxPPTM will initially attach to the International Space Station. AxPPTM will later separate from the ISS and rendezvous with Axiom’s Habitat 1 (AxH1) on orbit. Eventually, an airlock, Habitat 2 (AxH2) and finally the Research and Manufacturing Facility (AxRMF) will be added to the first two Axiom modules.

AxPPTM is anticipated to launch toward the end of 2027. The two-module station (AxPPTM and AxH1) is expected to be operational as a free-flying station by 2028, and the full four-module station around 2030.

The modules will be integrated and assembled at Axiom Space’s Assembly and Integration facility, making them the first human-rated spacecraft built in Houston.

Redwire’s ROSA technology was originally developed for the ISS, according to Space News. It has yielded a 100 percent success rate on on-orbit performance. The technology has also been used on NASA’s Double Asteroid Redirection Test mission, the Maxar-built Power and Propulsion Element for the Artemis Lunar Gateway and Thales Alenia Space’s Space Inspire satellites.

“As a market leader for space power solutions, Redwire is proud to be selected as a strategic supplier to deliver ROSAs for Axiom Space’s first space station module,” Mike Gold, Redwire president of civil and international space, said in a news release. “As NASA and industry take the next steps to build out commercial space stations to maintain U.S. leadership in low-Earth orbit, Redwire continues to be the partner of choice, enabling critical capabilities to ensure on-orbit success.”

Greentown Houston to add new AI lab for energy startups

AI partnership

Greentown Labs has partnered with Shoreless to launch an AI lab within its Houston climatetech incubator.

"Climatetech and energy startups are transforming industries, and AI is a critical tool in that journey," Lawson Gow, Greentown's Head of Houston, said in a news release. "We're excited to bring this new offering to our entrepreneurs and corporate partners to enhance the way they think about reducing costs and emissions across the value chain."

Shoreless, a Houston-based company that enables AI adoption for enterprise systems, will support startups developing solutions for supply-chain optimization and decarbonization. They will offer Greentown members climate sprint sessions that will deliver AI-driven insights to assist companies in reducing Scope 3 emissions, driving new revenue streams and lowering expenses. Additionally, the lab will help companies test their ideas before attempting to scale them globally.

"The future of climatetech is intertwined with the future of AI," Ken Myers, Founder and CEO of Shoreless, said in a news release. "By launching this AI lab with Greentown Labs, we are creating a collaborative ecosystem where innovation can flourish. Our agentic AI is designed to help companies make a real difference, and we are excited to see the groundbreaking solutions that will emerge from this partnership."

Greentown and Shoreless will collaborate on workshops that address industry needs for technical teams, and Shoreless will also work to provide engagement opportunities and tailored workshops for Greentown’s startups and residents. Interested companies can inquire here.

Recently, Greentown Labs also partnered with Los Angeles-based software development firm Nominal to launch the new Industrial Center of Excellence at Greentown's Houston incubator. It also announced a partnership with Houston-based EnergyTech Nexus, which will also open an investor lounge on-site last month. Read more here.

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

Houston medical institutions launch $6M kidney research incubator

NIH funding

Institutions within Houston’s Texas Medical Center have launched the Houston Area Incubator for Kidney, Urologic and Hematologic Research Training (HAI-KUH) program. The incubator will be backed by $6.25 million over five years from the National Institutes of Health and aims to create a training pipeline for researchers.

HAI-KUH will include 58 investigators from Baylor College of Medicine, Texas Children’s Hospital, the University of Texas Health Science Center at Houston, University of Houston, Houston Methodist Research Institute, MD Anderson Cancer Center, Rice University and Texas A&M University Institute of Biosciences and Technology. The program will fund six predoctoral students and six postdoctoral associates. Trainees will receive support in scientific research, professional development and networking.

According to the organizations, Houston has a high burden of kidney diseases, hypertension, sickle cell disease and other nonmalignant hematologic conditions. HAI-KUH will work to improve the health of patients by building a strong scientific workforce that leverages the team's biomedical research resources to develop research skills of students and trainees and prepare them for sustained and impactful careers. The funding comes through the National Institute of Diabetes and Digestive and Kidney Diseases.

The principal investigators of the project include Dr. Alison Bertuch, professor of pediatric oncology and molecular and human genetics at BCM; Peter Doris, professor and director of the Institute of Molecular Medicine Center for Human Genetics at UT Health; and Margaret Goodell, professor and chair of the Department of Molecular and Cellular Biology at Baylor.

“This new award provides unique collaborative training experiences that extend beyond the outstanding kidney, urology, and hematology research going on in the Texas Medical Center,” Doris said in a news release. “In conceiving this award, the National Institute of Diabetes and Digestive and Kidney Diseases envisioned trainee development across the full spectrum of skills required for professional success.”

Jeffrey Rimer, a professor of Chemical Engineering, is a core investigator on the project and program director at UH. Rimer is known for his breakthroughs in using innovative methods in control crystals to help treat malaria and kidney stones. Other co-investigators include Dr. Wolfgang Winkelmeyer (Baylor), Oleh Pochynyuk (UTHealth), Dr. Rose Khavari (Houston Methodist) and Pamela Wenzel (UT Health).

“This new NIH-sponsored training program will enable us to recruit talented students and postdocs to work on these challenging areas of research,” Rimer added in a release.

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