3 Houston innovators to know this week

who's who

This week's roundup of Houston innovators includes Don Frieden of P97, Haleh Ardebili of the University of Houston, and Babur Ozden of Aquanta Vision. Photos courtesy

Editor's note: In this week's roundup of Houston innovators to know, I'm introducing you to three local innovators across industries — from fintech to energy — recently making headlines in Houston innovation.

Don Frieden, president and CEO of P97

Don Frieden, president and CEO of P97, shares how he plans to streamline day-to-day transactions on the Houston Innovators Podcast. Photo courtesy of P97

Before Don Frieden started his company, gas stations hadn't innovated their payment technology since 1997. He knew that needed to change.

P97, founded in 2012, exists to use innovative technologies to simplify and energize daily journeys, Frieden explains on the Houston Innovators Podcast.

"We think about daily journeys from the time we leave home in the morning and when we get back at the end of the day — whether it's tolling, parking, buying fuel, fast food restaurants, it's all a part of your daily journeys, and our goal is to make things a little bit simpler each day," Frieden says on the show. Read more.

Haleh Ardebili, professor of Mechanical Engineering at University of Houston

Haleh Ardebili is the the Bill D. Cook Professor of Mechanical Engineering at UH. Photo courtesy

A new prototype out of the University of Houston feels more like science fiction than reality.

"As a big science fiction fan, I could envision a ‘science-fiction-esque future’ where our clothes are smart, interactive and powered,” according to a statement Haleh Ardebili, who last month published a paper on a new stretchable fabric-based lithium-ion battery in the Extreme Mechanics Letters.

“It seemed a natural next step to create and integrate stretchable batteries with stretchable devices and clothing," she said. "Imagine folding or bending or stretching your laptop or phone in your pocket. Or using interactive sensors embedded in our clothes that monitor our health.”

The battery uses conductive silver fabric as a platform and current collector, which stretches (or mechanically deforms) while allowing movement for electrons and ions. Traditional lithium batteries are quite rigid and use a liquid electrolyte, which are flammable and have potential risks of exploding. Read more.

Babur Ozden, founder of Aquanta Vision

Babur Ozden is the founder of Aquanta Vision. Photo via LinkedIn

Aquanta Vision Technologies, a Houston-based climate-tech startup, was selected to participate in the scale-up phase of Chevron Studio, a Houston program that matches entrepreneurs with technologies to turn them into businesses. Aquanta's computer vision software completely automates the identification of methane in optical gas imaging, or OGI. The technology originated from Colorado State University and CSU STRATA Technology Transfer.

Babur Ozden, a tech startup entrepreneur, along with Marcus Martinez, the lead inventor and Dan Zimmerle, co-inventor and director of METEC at CSU Energy Institute, came up with the technology to identify the presence and motion of methane in live video streams. Currently, this process of identifying methane requires a human camera operator to interpret the images. This can often be unreliable in the collection of emissions data.

Aquanta’s technology requires no human intervention and is universally compatible with all OGI cameras. Currently, only about 10 percent of the 20.5 million surveys done worldwide use this type of technology as it is extremely expensive to produce. Ozden said he hopes Aquanta will change that model.

“What we are doing — we are democratizing this feature, this capability, independent of the camera make and model,” Ozden says. Read more.

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Currently, methane leak detection requires human evaluation. With this innovative new company's tech, this process can be automated. Photo via Getty Images

Houston startup advances in Chevron's unique business accelerator

scaling up

A Houston startup that is developing a technology to detect methane leaks has moved on to phase two in Chevron's unique business accelerator.

Babur Ozden is the founder of Aquanta Vision. Photo via LinkedIn

“What we are doing — we are democratizing this feature, this capability, independent of the camera make and model,” Ozden tells EnergyCapital.

Aquanta’s software will be downloadable from App stores to the technician’s computers or phones.

“Our goal is to eliminate the absolute reliance of human interpretation and to give operators a chance to make detections faster and more accurately,” Ozden says.

“Our ultimate ambition is to reduce our footprint.” he continues. “Companies like Chevron and other leading players in the oil and gas industry are becoming much more committed (to reducing emissions)."

Aquanta will now test its software under various scenarios and develop an early commercial version of the product. In the next and final phase of the program, the company will begin marketing the technology for commercial use.

The goal of Chevron Studio is to take innovative new technologies out of the labs at universities and to scale them up to commercial ventures. The company takes the intellectual property developed at these labs and provides a platform to match entrepreneurs with the technology. The program provides funding to take the technologies from the very beginning to pilot and field trials. The National Renewable Energy Laboratory, or NREL, manages Chevron Studio and works closely with the entrepreneurs to guide them through the program.

Gautam Phanse, the strategic relations manager for Chevron Technology Ventures says he was impressed with Ozden’s background as an entrepreneur and in the technology he brought to the table.

“We are looking at experienced entrepreneurs. People who can take an idea and stand on their own and develop it into a business,” he tells EnergyCapital.

Earlier this year, Phanse spoke to InnovationMap about Chevron Studio and its mission to match entrepreneurs with promising technologies coming out of universities and labs. He said the current focus areas for Chevron Studio are: carbon utilization, hydrogen and renewable energy, energy storage systems and solutions for circular economy.

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This article originally ran on EnergyCapital.

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17 Houston entrepreneurs named finalists in annual regional competition

on to the next round

Entrepreneurs from the Houston area have been named finalists for one of the region’s most prestigious business awards.

The 17 finalists are competing for Ernst & Young’s Entrepreneur Of The Year 2024 Gulf South Award. The Gulf South region includes parts of Texas, along with Louisiana and Mississippi.

An independent panel of judges selected the 48 finalists. Contenders were evaluated based on their demonstration of building long-term value through factors such as entrepreneurial spirit, purpose, growth, and impact.

The Houston-area finalists are:

Shannon Payne, Allied Fire Protection, Pearland
Jay McEntire IV, Arva Intelligence, Houston
Andrew Levy, Avelo Airlines, Houston
Derek Maetzold, Castle Biosciences, Friendswood
Scott Aronstein, Connectivity Source, Houston
Joshua Weisman, Construction Concepts, Houston
Feras Moussa and Ben Suttles, Disrupt Equity, Houston
John Poindexter, J.B. Poindexter, Houston
James Ross, LJA Engineering, Houston
Asher Kazmann, Locke Solutions, Houston
Chad Millis, Millis, Missouri City
Mike Francis, NanoTech Materials, Houston
Stuart Hinchen and Peter Jenkins, Quva Pharma, Sugar Land
Trevor Best and Suman Khatiwada, Syzygy Plasmonics, Houston
Hal Brumfield, Tachus Fiber Internet, The Woodlands
Jared Boudreaux, Vector Controls and Automation Group, Pearland
Ting Qiao, Wan Bridge, Houston

“The finalists of this year are audacious entrepreneurs who are making a significant impact in their respective industries and communities,” says Anna Horndahl, an EY partner and co-director of the EOY Gulf South Program.

“These pioneers, chosen by an independent panel of judges, showcase relentless commitment to their businesses, customers and communities. We are thrilled to acknowledge their accomplishments,” adds Travis Garms, an EY partner and co-director of the EOY Gulf South Program.

Houston makes top 10 list of metros with most millionaires

living large

Anew population analysis has unveiled an exclusive view into how the elite live in the U.S., including a surprising discovery that Houston-The Woodlands-Sugar Land has the No. 9 highest concentration of millionaire households in the country.

The study by online real estate marketplace Point2Homes compared household data among millionaires in the 30 biggest U.S. metropolitan areas, including four Texas metros, between 2017 and 2022.

The report found that the number of U.S. households that earned at least $1 million a year more than quadruped within the five-year period, with the highest concentration of millionaire households located in the New York-Newark-Jersey City area across New York, New Jersey, and Pennsylvania.

There are just under 2,900 millionaire homeowners living across the Houston metro, making up 0.11 percent of all households in the area. The report revealed a majority (32.9 percent) of millionaires in Houston are actually Gen Xers, with the second highest share going to baby boomers (28.9 percent).

Most interestingly, the youngest generation, Gen Z, make up 15.4 percent of all millionaire households in Houston, with millennials making up 21.5 percent, according to the report. But the Gen Z percentage is misleading; as the report clarifies, there aren't actually that many Gen Z millionaires walking among us in H-Town.

"Instead, this high share is most likely almost entirely due to the people aged 15 to 24 who are still living with their (millionaire) owner parents," the report explained. "Unfortunately, living in a millionaire owner household does not a millionaire owner make — but it does come with some serious perks."

Physicians make up Houston-The Woodlands-Sugar Land millionaires' main occupations across all age groups, the study also found.

This is how Houston's millionaires live
The saying goes, "Go big or go home," and Houston's millionaire homeowners are taking that to heart when it comes to their own lavish households.

The report discovered the typical home owned by a millionaire in Houston-The Woodlands-Sugar Land is a five bedroom, nine total-room house, with an average assessed value of $1,466,682. As for wheels, a Houston-based millionaire is likely to have less than three vehicles (2.8) on average.

By comparison, the average value for a millionaire homeowner's abode in San Francisco-Oakland-Berkeley, California is $2,816,196, the highest amount out of all 30 U.S. metros in the report.

Big, expensive homes don't come without big costs to maintain them, the report reminds. And when it comes to managing finances for wealthy earners, making more money doesn't necessarily mean they'll be saving that income.

"Rather, it just means bigger homes with bigger mortgages and maintenance expenses; more cars; much costlier schools; and more over-the-top lifestyles, which simply bite bigger chunks out of the family's big budget," the report said. "However, despite the 'risks,' most of us would probably choose to have rich people problems. Or, as the saying goes, crying in a Ferrari might just feel better than crying in a Toyota when all is said and done."

Millionaire lifestyles across Texas
In a comparison of all Texas metro areas, Houston-The Woodlands-Sugar Land claimed the highest share of millionaire homeowners statewide. Dallas-Fort Worth-Arlington took the No. 2 spot, while Austin-Round Rock-Georgetown rounded out the top three. San Antonio-New Braunfels took No. 4 in the statewide analysis.

Dallas-Fort Worth-Arlington was right behind Houston in the national standings, ranking No. 10, with nearly 2,650 millionaire households situated in the Metroplex. DFW's millionaires are mainly chief executives and legislators, or physicians. Gen Xers (44.1 percent) make up the highest share of the metro's millionaires, with baby boomers (24.7 percent) not too far behind.

Austin-Round Rock-Georgetown, however, fell to No. 24 in the national ranking with only 749 millionaire households calling the Texas Capital home. Austin's millionaires are mainly chief executives and legislators, or other types of high-level mangers. Gen Xers (34.9 percent) make up the highest share of the metro's millionaires, with millennials (30.8 percent) not too far behind.

San Antonio-New Braunfels ranked at the bottom of the study at No. 29, above Pittsburgh, Pennsylvania. There were only 414 millionaire households in the metro area between 2017-2022, and a majority of them (38.4 percent) were Gen X physicians.

The top 10 metros with the highest share of millionaires in the U.S. are:

No. 1 – New York-Newark-New Jersey City, New York-New Jersey-Pennsylvania
No. 2 – Los Angeles-Long Beach-Anaheim, California
No. 3 – San Francisco-Oakland-Berkeley, California
No. 4 – Boston-Cambridge-Newton, Massachusetts-New Hampshire
No. 5 – Washington-Arlington-Alexandria, D.C.-Virginia-Marland-West Virginia
No. 6 – Chicago-Naperville-Elgin, Illinois-Indiana-Wisconsin
No. 7 – Miami-Fort Lauderdale-Pompano Beach, Florida
No. 8 – Seattle-Tacoma-Bellevue, Washington
No. 9 – Houston-The Woodlands-Sugar Land, Texas
No. 10 – Dallas-Fort Worth-Arlington, Texas

The full report and its methodology can be found on point2homes.com.

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This article originally ran on CultureMap.

Energy leader named CEO of startup, May events, and more top Houston innovation news

now trending

Editor's note:Let's roundup the most-read Houston innovation news from the week. Trending Houston tech and startup articles from InnovationMap and its daily newsletter included a roundup of events not to miss, a new CEO for an innovative energy tech company, and more.

Exclusive: Houston hydrogen spinout names energy industry veteran as CEO

Prabhdeep Singh Sekhon, who previously held roles at companies such as NextEra Energy Resources and Hess, was named CEO of Gold H2. Photo courtesy of Golf H2

Cleantech startup Gold H2, a spinout of Houston-based energy biotech company Cemvita, has named oil and gas industry veteran Prabhdeep Singh Sekhon as its CEO.

Sekhon previously held roles at companies such as NextEra Energy Resources and Hess. Most recently, he was a leader on NextEra’s strategy and business development team.

Gold H2 uses microbes to convert oil and gas in old, uneconomical wells into clean hydrogen. The approach to generating clean hydrogen is part of a multibillion-dollar market. Continue reading.

10+ can't miss Houston business and innovation events for May

Don't miss these May events — from expos and conferences to panels and pitch days. Photo via Getty Images

From pitching competitions to expert speaker summits, May is chock-full of opportunities for Houston innovators.

Here's a roundup of events you won't want to miss out on so mark your calendars and register accordingly. Continue reading.

Houston innovation leaders secure SBA funding to start equitability-focused energy lab

Impact Hub Houston partnered with Energy Tech Nexus to establish the Equitable Energy Transition Alliance and Lab to accelerate startup pilots for underserved communities. Photo via Getty Images

A group of Houston's innovation and energy leaders teamed up to establish an initiative supporting equitability in the energy transition.

Impact Hub Houston, a nonprofit incubator and ecosystem builder, partnered with Energy Tech Nexus to establish the Equitable Energy Transition Alliance and Lab to accelerate startup pilots for underserved communities. The initiative announced that it's won the 2024 U.S. Small Business Administration Growth Accelerator Fund Competition, or GAFC, Stage One award.

"We are incredibly honored to be recognized by the SBA alongside our esteemed partners at Energy Tech Nexus," Grace Rodriguez, co-founder and executive director of Impact Hub Houston, says in a news release. "This award validates our shared commitment to building a robust innovation ecosystem in Houston, especially for solutions that advance the Sustainable Development Goals at the critical intersections of industry, innovation, sustainability, and reducing inequality." Continue reading.

Houston organization launches virtual accelerator, seeks 10 biotech startups

Calling all biotechnology startups. Photo via Getty Images

A Houston organization — freshly funded by a $700,000 U.S. Economic Development Administration’s “Build to Scale” grant — is seeking its first accelerator cohort of industrial biology startups.

Founded by Houston-based First Bight Ventures, the BioWell has launched a virtual accelerator program that will provide programming, networking, mentorship, and financial resources to its inaugural cohort of 10 bioindustrial startups. The selected companies will also have access to specialized pilot bioproduction infrastructure throughout the nine-month program.

“BioWell equips startups with more than just capital. We provide a foundation for breakthrough innovations by combining access to cutting-edge bioproduction facilities with expertise that nurtures scalability. This comprehensive support is crucial for transforming pioneering ideas into market-ready solutions that can address pressing global challenges,” Carlos Estrada, head of venture acceleration at BioWell, says in a news release. Continue reading.

Report: Houston's VC trends so far in 2024 and what to watch for the rest of the year

Geothermal investment is up, but health tech is down — plus more data-backed VC trend from 2024 so far. Photo via Getty Images

Houston-based geothermal company Fervo Energy accounted for more than half of the venture capital raised by Houston-area startups in the first quarter of 2024.

The region’s VC haul in the first quarter totaled $462.4 million, according to the PitchBook-NCVA Venture Monitor. That’s up from $290.4 million during the same period in 2023 and from $285.8 million in the fourth quarter of last year. Click here to see the Q1 rounds as reported by InnovationMap.

Fervo’s latest funding round, announced in February, represented $244 million (52 percent) of the region’s VC total for the first quarter of 2024. Continue reading.

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