A mix of public and private investors have funded Greentown Labs and its latest raise. Photo via GreentownLabs.com

Greentown Labs, a climatetech incubator with locations in the Houston and Boston areas, has announced it has received funding from a mix of investors.

The $4 million in funding came from both of the Houston and Massachusetts locations. Houston investors included Bobby Tudor, CEO of Artemis Energy Partners and chairman of the Houston Energy Transition Initiative; David Baldwin, co-founder of OpenMinds and TEX-E and partner at SCF Partners; and Rice University. Other investors included MassDevelopment and the City of Somerville.

“The challenges of the energy transition are immense, and the role played by technology incubators like Greentown Labs is essential,” Tudor says in a news release. “We believe this role, which is a partnership between academia, industry, philanthropists, entrepreneurs, and governments, is the best way to get to effective, scalable solutions in a time frame that the urgency of the challenge requires. We need all hands on deck, and this partnership between Massachusetts and Texas can be a role model for others.”

According to Greentown, the funding will support its financial position and contribute to preparing the incubator for its next chapter of supporting its its leadership team prepare for Greentown’s next chapter supporting and growing its 575 startups.

“Greentown’s mission aligns closely with the Houston Energy Transition Initiative’s goal of accelerating global solutions to address the dual challenge of meeting growing energy demand globally while also significantly reducing CO2 emissions,” adds Steve Kean, president and CEO of the Greater Houston Partnership.

With the announcement of the funding, Greentown named its board members, including Tudor, who will serve as Greentown Labs Board Chair. The other Houston-based board members are:

  • David Baldwin, co-founder of OpenMinds and TEX-E; partner atSCF Partners
  • Bob Harvey, former president and CEO of GHP; board member of TEX-E
  • Jane Stricker, senior vice president of energy transition and executive director of HETI

“With this new funding, Greentown is poised to expand its impact across its existing ecosystems and support even more climatetech startups,” adds Kevin Dutt, interim CEO of Greentown Labs. “We believe in the essential role entrepreneurship will play in the energy transition and we’re grateful for the support of our partners who share in that belief and our collective commitment to commercializing these technologies as quickly and efficiently as possible.”

According to Greentown, the incubator plans to announce its new CEO in the coming months.

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This article originally ran on EnergyCapital.

The GHP and HETI announced that it has signed a memorandum of understanding with Argonne National Laboratory, a a federally-funded research and development facility in Illinois. Photo by Natalie Harms/InnovationMap

Houston organization announces major partnership with DOE lab to spur energy innovation commercialization

R&D teammate

A new partnership between the Greater Houston Partnership and Argonne National Laboratory has been established to spur development of commercial-scale energy transition solutions.

The GHP and the Houston Energy Transition Initiative, or HETI, announced that it has signed a memorandum of understanding with Argonne National Laboratory, a federally-funded research and development facility in Illinois. The lab is owned by the United States Department of Energy and run by UChicago Argonne LLC of the University of Chicago.

“The U.S. Department of Energy’s national laboratories have long been the backbone of research, development, and demonstration for the energy sector," Bobby Tudor, CEO of Artemis Energy Partners and Chair of HETI, says in a news release. "The Partnership and HETI, working with our industry members, business community and top research and academic institutions, in collaboration with Argonne, will work across our energy innovation ecosystem to drive this critical effort for our region.”

The partnership, announced at HETI House at CERAWeek by S&P Global, is intended to provide resources and collaboration opportunities between Houston's energy innovation ecosystem — from corporates to startups — to "accelerate the translation, evaluation and pre-commercialization of breakthrough carbon reduction technologies," per the news release.

“A decarbonization center of excellence in Houston is the missing link in the region’s coordinated approach to advancing critical energy transition technologies needed to mitigate the risks associated with climate change, while also promoting economic growth and job creation for the region,” Tudor continues.

Established in 1946, Argonne works with universities, industry, and other national laboratories on large, collaborative projects that are expected to make a big impact on the energy transition.

“Partnerships are essential to realizing net zero goals,” Argonne Director Paul Kearns adds. “We are pleased to extend DOE national laboratory expertise and work with HETI to focus the region’s considerable energy and industrial assets, infrastructure, and talent on broad commercial deployment of needed technologies.”

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This article originally ran on EnergyCapital.

Houston's history in oil and gas — as well as its momentum in the energy transition space — helped the city claim the top spot in this new report ranking. Photo via Getty Images

New report ranks Houston as the top city for foreign investment

by the numbers

For the second time, a report has analyzed the top markets in the United States for the rest of the world to do business in. This year, that top spot belongs to Houston.

The second annual FT-Nikkei Investing in America ranking, which came out this week from the Financial Times and international financial newspaper Nikkei, put the Bayou City — and six other Texas cities — at the top portion of the ranking. Houston's at No. 1, up four spots from last year, but Austin and four cities in the Dallas area also claim spots in the top 20.

The report looked at four dozen metrics, including workforce and talent, quality of life, openness, business environment, investment trends, and more.

In addition to the ranking, the Financial Times dove a little deeper into what made Houston a standout this year, interviewing many of Houston's most prominent business community members. The article points to the city's storied past as an oil and gas leader, also calling out its busy airports and global shipping ports, as well as its medical technology and aerospace industries. But one of the biggest factors in Houston's business climates success is its opportunity within the energy transition.

“We’re clear in Houston that if we’re going to continue to have prosperity — to the degree to define prosperity as job growth and wealth creation — it’s going to need to come from places other than the incumbent energy business,” Bobby Tudor, chief executive of Artemis Energy Partners, tells FT in the article.

Houston scored an overall 73 out of 100, and its scores across metrics in the report include:

  • Workforce and talent: 68/100
  • Openness: 80/100
  • Business environment: 64/100
  • Foreign business needs: 100/100
  • Quality of life: 47/100
  • Investment trends: 73/100
  • Aftercare: 69/100
Last year's top city was Miami, which ranks at No. 6 this year. Most of the top 10 cities in this year's report represent major gains on the ranking.This report falls in line with others in terms of noticing a change within the green economy in Houston. Earlier this year, personal finance website SmartAsset ranked the Houston metro area as the fifth best place in the U.S. for green jobs, which pay an average of 21 percent more than other jobs. The SmartAsset study found that 2.23 percent of workers in the Houston area hold down jobs classified as “green.”

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This article originally ran on EnergyCapital.

An Austin-based energy software company just scored funding from Houston investors. Photo via Getty Images

Houston investors back Austin software startup in $3.25M seed round

money moves

Houston-based investment firm Goose Capital led a $3.25 million round of seed funding revealed recently by Austin-based cleantech software company P6 Technologies.

Other participants in the round are Houston-based investment firms Artemis Energy Partners, Tupper Lake Partners, and Veritec Ventures. The seed round represents the first outside funding for P6, which maintains an office in Houston.

In conjunction with the seed funding:

  • Artemis founder and CEO Bobby Tudor has joined P6’s board of directors. He is an investor in Goose Capital.
  • Paal Kibsgaard, managing partner of Veritec, also has joined the P6 board. Kibsgaard is former chairman and CEO of Houston-based oilfield services company Schlumberger, which now does business as SLB.

Joe Berti, CEO of P6, says Kibsgaard’s “unparalleled experience” will benefit his company.

“Veritec’s strategic vision and active support of energy transition solutions align perfectly with our goals, and I am confident their contribution will be instrumental in shaping our future success,” Berti says in a news release.

Berti is former chief product officer of IBM’s sustainability software unit.

P6, founded in 2022, sells enterprise software to businesses in the energy, transportation fuel, and petrochemical sectors. The startup’s software for product lifecycle assessment enables measurement of the product-level intensity of greenhouse gas (GHG) emissions as energy companies try to achieve sustainability goals.

Tudor applauds P6 for helping fossil fuel-anchored companies reduce GHG emissions.

“Energy is the sector that needs a solution like P6 the most,” says Tudor. “P6 has the right approach and is going to make a step-change improvement to how product-level carbon intensity and GHG emissions are tracked today.”

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This article originally ran on EnergyCapital.

Mayor Sylvester Turner and other local leaders joined the stage for the Ten Across summit in Houston this week. Photo by Natalie Harms/InnovationMap

Houston has responsibility and opportunity to lead the energy transition, say local leaders

the future is here

Houston has an integral role to play in the energy transition, and that role was thoroughly discussed at a recent conference taking place in the Bayou City.

This week, Houston hosted the 10X Summit: The Future Is Here, an event by Ten Across — an organization that focuses on social, economic, and climate change issues across the region around Interstate 10 from Los Angeles to Jacksonville. The three-day conference featured guest speakers who spoke to resiliency, water, the future of energy, and more.

Among these speakers included a handful of Houston researchers, political figures, and innovators — and much of their conversations overlapped related topics and themes, from Hurricane Harvey's legacy and impact on the business community to the role the city will play in the energy transition.

When it comes to the energy transition, here are the key messages Houston leaders shared with 10X attendees.

The energy transition can't happen without Houston

The topic of the energy transition came up right out of the gate for the summit. At the welcome reception on Tuesday, Bobby Tudor, CEO of Artemis Energy Partners and founder and former CEO of Tudor, Pickering, Holt & Co., spoke to the evolution of the industry and how Houston is a major factor in the energy transition's success.

“I don’t think (the energy transition) is going to happen without (Houston)," Tudor says at the fireside chat with Wellington Reiter, executive director of Ten Across. "There's a notion that the transition is inevitable. It’s inevitable — only if our technology continues to advance and improve, only if new assets get deployed, only if capital supports it, and only if the people who know and understand the energy systems are leaning in to make it happen.”

For Tudor, who served as chair of the Greater Houston Partnership in 2020 and made it his mission to communicate the importance of industry evolution during his tenure, Houston businesses motivated by opportunities in business should be looking at the energy transition.

“We’re very good in Houston that, when we see a dollar bill lying on the ground, we bend over and pick it up. Right now, there’s fantastic opportunity in the energy transition space," he says. "We have both a responsibility and an opportunity to be the leaders in the global energy transition.”

Mayor Sylvester Turner in his chat with Reiter on Thursday addressed how some might think that Houston — a headquarters for some of the biggest oil and gas giants — might not be the right city to lead a cleaner energy system, but Turner argued that's exactly why it has to happen here.

“We are the energy capital of the world," he says. "The reality is we have some of the largest greenhouse gas emitters principally located right here in Houston. To the extent of leading an energy transition, the impact is not just locally. The impact is globally.”

Barbara Burger, former president of Chevron Technology Ventures and an energy tech startup adviser, explained how integral the relationship between the energy industry and Houston is.

“As the energy system evolves, so does Houston," she says. “I think it’s our opportunity to lose."

The role of corporate incumbents 

Burger's discussion, which took place on Wednesday, spoke to the role of incumbents — corporations that have been operating in the energy industry for decades — in the transition. She explained how the process can't move forward without these parties.

“The incumbents need to be a part of the energy transition. There are parts of our society that don’t want them to be, and I find that unfortunate," she says. "For one, we’re not going to decarbonize the energy system unless they are a part of it. Two, there are a lot of skills and capabilities and assets in the incumbents to do that.

"What I don’t think the incumbents will do is they won’t lead it," she continues. "Many will be leaders in the new energy system, but they won’t be the ones first up the hill.”

Burger compares the energy and the automotive industries. Tesla acted as a disruptor to major auto companies, and then they followed suit. The disruptors and catalysts the energy industry will be a combination of startups, investors, governments, universities, and employee bases.

“We’re not going to throw away the current energy system," she says. "We’re going to evolve it and repurpose it.”

Houston has the ingredients

Tudor addressed the existing infrastructure — from physical pipes to expertise and workforce — that Houston has, which makes for an ideal location for innovation and progress in the transition.

“For a lot of reasons, it’s very clear that unless Houston leans in, we’re not going to find the solutions we need to transition our energy systems to much lower CO2 emissions," he says.

The GHP established the Houston Energy Transition Initiative in 2021 to concentrate Houston efforts within the future of energy. Tudor says this initiative is focused on what can be done now in town — attracting clean energy startups, developing a hydrogen hub, building facilities for green hydrogen production — to lead to a better future.

“We want to look up 20 years from now and find Houston is still — if not more than ever — the energy capital of the world," he says. "We believe that energy systems globally in 20 years will look quite different from how they look today. And that means Houston will look very different from how it looks today."

Burger emphasized some of the challenges — as well as opportunities — the city has considering its long history within the sector.

“Houston has benefitted from a vibrant, strong U.S. energy industry,” she says. “Keeping strong companies and keeping Houston attractive for the energy business is critical.”

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Houston company awarded $2.5B NASA contract to support astronaut health and space missions

space health

Houston-based technology and energy solution company KBR has been awarded a $2.5 billion NASA contract to support astronaut health and reduce risks during spaceflight missions.

Under the terms of the Human Health and Performance Contract 2, KBR will provide support services for several programs, including the Human Research Program, International Space Station Program, Commercial Crew Program, Artemis campaign and others. This will include ensuring crew health, safety, and performance; occupational health services and risk mitigation research for future flights.

“This contract reinforces KBR’s leadership in human spaceflight operations and highlights our expertise in supporting NASA’s vision for space exploration,” Mark Kavanaugh, KBR president of defense, intel and space, said in a news release.

The five-year contract will begin Nov. 1 with possible extension option periods that could last through 2035. The total estimated value of the base period plus the optional periods is $3.6 billion, and the majority of the work will be done at NASA’s Johnson Space Center.

“We’re proud to support NASA’s critical work on long-duration space travel, including the Artemis missions, while contributing to solutions that will help humans live and thrive beyond Earth,” Kavanaugh adde in the news release.

Recently, KBR and Axiom Space completed three successful crewed underwater tests of the Axiom Extravehicular Mobility Unit (AxEMU) at NASA's Neutral Buoyancy Laboratory (NBL) at Johnson Space Center. The tests were part of an effort to help both companies work to support NASA's return to the Moon, according to a release.

KBR also landed at No. 3 in a list of Texas businesses on Time and Statista’s new ranking of the country’s best midsize companies.

UH receives $1M grant to advance research on rare pediatric disorder

peds research

The University of Houston has received a two-year, $1.1 million gift from the Cynthia and George Mitchell Foundation to advance research on a rare genetic disorder that can lead to both deafness and blindness in children, known as Usher Syndrome.

The current grant will support the research of UH biomedical engineering professors Muna Naash and Muayyad Al-Ubaidi, who work in the Laboratory for Retinal Molecular and Cellular Biology and Gene Therapy in the Cullen College of Engineering. The professors have published their findings in the journal Nature Communications.

Naash and Al-Ubaidi’s research focuses on mutations in the USH2A gene, which is crucial to the development and maintenance of the inner ear and retina. The work was inspired by a chance meeting that changed Naash’s life.

“Our work began more than two decades ago when I met a young boy who had lost his both his vision and hearing, and it made me realize just how precious those two senses are, and it truly touched my heart,” Naash said in a news release from UH. “Thanks to the generosity of the Cynthia and George Mitchell Foundation, we can now take the next critical steps in our research and bring hope to families affected by this challenging condition.”

The grant from the foundation comes in addition to a previous $1.6 million award from the National Eye Institute in 2023, which helped create a research platform for innovative gene therapy approaches for the condition.

Usher Syndrome affects 25,000 people in the U.S. and is the most common genetic condition worldwide that impacts both hearing and vision in children. Currently, there is no cure for any of the main three types of the condition. UH believes support from the Cynthia and George Mitchell Foundation will help elevate research, advance real-world solutions in health and improve lives.

“What makes UH such a powerful hub for research is not just its own resources, but also its location and strategic partnerships, including those with the Texas Medical Center,” Al-Ubaidi said in a news release. “We have access to an extraordinary network, and that kind of collaborative environment is essential when tackling complex diseases like Usher syndrome, where no single lab can do it alone.”

Members-only coworking club Switchyards to open first Houston location

Where to Work

An innovative take on the coworking space is coming to Houston. Switchyards will open its first location in the Bayou City on Monday, September 29.

Located in the former Buffalo Exchange at 2901 S Shepherd Drive, Switchyards is well located on the border of Montrose, River Oaks, and Upper Kirby. Founded in Atlanta, the Houston location will join 30 outposts in cities such as Austin, Dallas, Denver, Kansas City, and Nashville.

Unlike WeWork, which caters to companies looking for office space for groups of employees, Switchyards pitches itself as a club for individuals who want to get a little work done away from their home offices.

“Working from home all the time is pretty lonesome,” Switchyards creative director Brandon Hinman says. “It feels good to have places to get out and mix it up. To change paces and change scenery.”

Switchyards facilitates that change of scenery with an environment that blends touches of hotel lobbies, college libraries, and coffee shops. As seen in the photos of the company’s other location, the furniture is a mix of desks, comfy chairs, and couches for individuals or small groups. It’s a far cry from the cube farms of the Office Space era.

“They tend to be historic, textured, layered,” Hinman says about the company’s locations. “A lot of really good furniture. Really thoughtful for getting a couple hours of work done.”

Each location features fast wi-fi, plenty of electrical outlets, and good quality coffee and tea. All 250 members have 24/7 access to the space. And by choosing the real estate they lease carefully, Switchyards keeps its membership price to $100 per month.

“Packaging it together like that and opening in these neighborhoods where people actually live has been pretty magical,” Hinman says. "The big opportunity, I think, is that 90 percent of our members have never had a shared space before. It is unlocking a new thing for people.”

Those who are interested in learning more can sign up at switchyards.com/houston-tx to get early access to memberships and an invite to a sneak peek party.

Memberships go on sale Thursday, September 25 at 10 am. Switchyards notes that the last 14 clubs have sold out on day one.

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This story originally appeared on CultureMap.com.