Judges named for 2022 Houston Innovation Awards

in the hot seat

Here's who's making the call for this year's Houston Innovation Awards. Photos courtesy

Nominations are closed, applications are out, and the city of Houston is waiting to see who are the finalists for the 2022 Houston Innovation Awards. But first — who are tasked with the job of deciding the honorees for the Houston Innovation Awards Gala on November 9?

Click here to secure your tickets to the event.

A cohort of eight of the best innovation leaders in the Bayou City — representing all corners of tech and innovation, from energy and hard tech to software and startup acceleration. Introducing: The 2022 Houston Innovation Awards judges:

Carolyn Rodz, founder and CEO of Hello Alice

Carolyn Rodz, founder and CEO of Hello Alice

Photo courtesy of Hello Alice

Carolyn Rodz is a leader in Houston innovation — both as a startup founder and as a resources for startups and small businesses across the country. As CEO, she leads Hello Alice, a company Rodz founded with Elizabeth Gore, on its mission to provide support and guidance to small business owners.

Rodz is no stranger to InnovationMap's awards program. Last year, Hello Alice was a finalist in three categories and took home the win for BIPOC-owned business.

Wogbe Ofori, founder of Wrx Companies

Photo courtesy

​Wogbe Ofori is a champion of Houston innovation, startup mentor, investor, and more. He's particularly passionate about hard tech and serves as an adviser to Houston-based Nauticus Robotics and CaringBand. He also participates as a mentor across several organizations, including MassChallenge, Capital Factory, Founder Institute, and the University of Houston.

Scott Gale, executive director of Halliburton Labs

Photo courtesy

After several years in strategy at Halliburton, Scott Gale switched gears to lead Halliburton Labs, which launched in 2020. The startup incubation lab focuses on supporting early-stage companies within climatetech and the future of energy.

Ashley Danna, senior manager of regional economic development of Greater Houston Partnership

Photo courtesy

It's Ashley Danna's job at GHP to have a pulse on companies in Houston — including tech and life science businesses. Her role is focused on marketing the Houston region as a business magnet to expanding and relocating domestic businesses to foster job creation and economic growth while collaborating and strengthening relationships with external stakeholders.

Kelly McCormick, professor at the University of Houston

Photo courtesy

Kelly McCormick has spent the better part of a decade molding young, entrepreneurial minds at the University of Houston, both as a professor and as leading UH's student startup accelerator, Red Labs.

Paul Cherukuri, vice president of innovation at Rice University

Photo courtesy of Rice

Paul Cherukuri, the executive director of the Institute of Biosciences and Bioengineering, was named the inaugural vice president for innovation at Rice University in August. In his role, Cherukuri leads Rice’s technology and commercialization infrastructure to translate breakthrough discoveries into inventions for the benefit of society.

Lawson Gow, CEO of Houston Exponential

Photo courtesy of The Cannon

Lawson Gow wears many hats within the Houston innovation ecosystem. He founded The Cannon, a Houston-wide coworking company, and now oversees Houston Exponential. He also is the founder and CEO of sportstech-focused Pokatok and chief strategy officer of SportsMap SPAC.

Natalie Harms, editor of InnovationMap

Photo courtesy

Natalie Harms has been at the helm of InnovationMap — Houston's voice for Innovation — since its inception in October 2018. She oversees all editorial operations of the site and hosts its weekly podcast, the Houston Innovators Podcast.

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Houston unicorn closes $421M to fuel first phase of flagship energy project

Heating Up

Houston geothermal unicorn Fervo Energy has closed $421 million in non-recourse debt financing for the first phase of its flagship Cape Station project in Beaver County, Utah.

Fervo believes Cape Station can meet the needs of surging power demand from data centers, domestic manufacturing and an energy market aiming to use clean and reliable power. According to the company, Cape Station will begin delivering its first power to the grid this year and is expected to reach approximately 100 megwatts of operating capacity by early 2027. Fervo added that it plans to scale to 500 megawatts.

The $421 million financing package includes a $309 million construction-to-term loan, a $61 million tax credit bridge loan, and a $51 million letter of credit facility. The facilities will fund the remaining construction costs for the first phase of Cape Station, and will also support the project’s counterparty credit support requirements.

Coordinating lead arrangers include Barclays, BBVA, HSBC, MUFG, RBC and Société Générale, with additional participation from Bank of America, J.P. Morgan and Sumitomo Mitsui Trust Bank, Limited, New York Branch.

“As demand for firm, clean, affordable power accelerates, EGS (Enhanced Geothermal Systems) is set to become a core energy asset class for infrastructure lenders,” Sean Pollock, managing director, project Finance at RBC Capital Markets, said in a news release. “Fervo is pioneering this step change with Cape Station, a vital contribution to American energy security that RBC is proud to support.”

The oversubscribed financing marks Cape Station’s shift from early-stage and bridge funding to a long-term, non-recourse capital structure, according to the news release.

“Non-recourse financing has historically been considered out of reach for first-of-a-kind projects,” David Ulrey, CFO of Fervo Energy, said in a news release. “Cape Station disrupts that narrative. With proven oil and gas technology paired with AI-enabled drilling and exploration, robust commercial offtake, operational consistency, and an unrelenting focus on health and safety, we have shown that EGS is a highly bankable asset class.”

Fervo continues to be one of the top-funded startups in the Houston area. The company has raised about $1.5 billion prior to the latest $421 million. It also closed a $462 million Series E in December.

According to Axios Pro, Fervo filed for an IPO that would value the company between $2 billion and $3 billion in January.

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This article first appeared on EnergyCapitalHTX.com.

Houston food giant Sysco to acquire competitor in $29 billion deal

Mergers & Acquisitions

Sysco, the nation's largest food distributor, will acquire supplier Restaurant Depot in a deal worth more than $29 billion.

The acquisition would create a closer link between Sysco and its customers that right now turn to Restaurant Depot for supplies needed quickly in an industry segment known as “cash-and-carry wholesale.”

Sysco, based in Houston, serves more than 700,000 restaurants, hospitals, schools, and hotels, supplying them with everything from butter and eggs to napkins. Those goods are typically acquired ahead of time based on how much traffic that restaurants typically see.

Restaurant Depot offers memberships to mom-and-pop restaurants and other businesses, giving them access to warehouses stocked with supplies for when they run short of what they've purchased from suppliers like Sysco.

It is a fast growing and high-margin segment that will likely mean thousands of restaurants will rely increasingly on Sysco for day-to-day needs.

Restaurant Depot shareholders will receive $21.6 billion in cash and 91.5 million Sysco shares. Based on Sysco’s closing share price of $81.80 as of March 27, 2026, the deal has an enterprise value of about $29.1 billion.

Restaurant Depot was founded in Brooklyn in 1976. The family-run business then known as Jetro Restaurant Depot, has become the nation's largest cash-and-carry wholesaler.

The boards of both companies have approved the acquisition, but it would still need regulatory approval.

Shares of Sysco Corp. tumbled 13% Monday to $71.26, an initial decline some industry analysts expected given the cost of the deal.

Houston researcher builds radar to make self-driving cars safer

eyes on the road

A Rice University researcher is giving autonomous vehicles an “extra set of eyes.”

Current autonomous vehicles (AVs) can have an incomplete view of their surroundings, and challenges like pedestrian movement, low-light conditions and adverse weather only compound these visibility limitations.

Kun Woo Cho, a postdoctoral researcher in the lab of Rice professor of electrical and computer engineering Ashutosh Sabharwal, has developed EyeDAR to help address such issues and enhance the vehicles’ sensing accuracy. Her research was supported in part by the National Science Foundation.

The EyeDAR is an orange-sized, low-power, millimeter-wave radar that could be placed at streetlights and intersections. Its design was inspired by that of the human eye. Researchers envision that the low-cost sensors could help ensure that AVs always pick up on emergent obstacles, even when the vehicles are not within proper range for their onboard sensors and when visibility is limited.

“Current automotive sensor systems like cameras and lidar struggle with poor visibility such as you would encounter due to rain or fog or in low-lighting conditions,” Cho said in a news release. “Radar, on the other hand, operates reliably in all weather and lighting conditions and can even see through obstacles.”

Signals from a typical radar system scatter when they encounter an obstacle. Some of the signal is reflected back to the source, but most of it is often lost. In the case of AVs, this means that "pedestrians emerging from behind large vehicles, cars creeping forward at intersections or cyclists approaching at odd angles can easily go unnoticed," according to Rice.

EyeDAR, however, works to capture lost radar reflections, determine their direction and report them back to the AV in a sequence of 0s and 1s.

“Like blinking Morse code,” Cho added. “EyeDAR is a talking sensor⎯it is a first instance of integrating radar sensing and communication functionality in a single design.”

After testing, EyeDAR was able to resolve target directions 200 times faster than conventional radar designs.

While EyeDAR currently targets risks associated with AVs, particularly in high-traffic urban areas, researchers also believe the technology behind it could complement artificial intelligence efforts and be integrated into robots, drones and wearable platforms.

“EyeDAR is an example of what I like to call ‘analog computing,’” Cho added in the release. “Over the past two decades, people have been focusing on the digital and software side of computation, and the analog, hardware side has been lagging behind. I want to explore this overlooked analog design space.”

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