Last weekend was a tumultuous one for founders and funders in Houston and beyond. Here's what lessons were learned. Photo via Getty Images

Last week, Houston founder Emily Cisek was in between meetings with customers and potential investors in Austin while she was in town for SXSW. She was aware of the uncertainty with Silicon Valley Bank, but the significance of what was happening didn't hit her until she got into an Uber on Friday only to find that her payment was declined.

“Being positive in nature as I am, and with the close relationship that I have with SVB and how they’ve truly been a partner, I just thought, ‘OK, they’re going to figure it out. I trust in them,'” Cisek says.

Like many startup founders, Cisek, the CEO of The Postage, a Houston-based tech platform that enables digital legacy planning tools, is a Silicon Valley Bank customer. Within a few hours, she rallied her board and team to figure out what they needed to do, including making plans for payroll. She juggled all this while attending her meetings and SXSW events — which, coincidentally, were mostly related to the banking and fintech industries.

Sandy Guitar had a similar weekend of uncertainty. As managing director of HX Venture Fund, a fund of funds that deploys capital to venture capital firms around the country and connects them to the Houston innovation ecosystem, her first concern was to evaluate the effect on HXVF's network. In this case, that meant the fund's limited partners, its portfolio of venture firms, and, by extension, the firms' portfolios of startup companies.

“We ultimately had no financial impact on venture fund 1 or 2 or on any of our portfolio funds or our underlying companies,” Guitar tells InnovationMap. “But that is thanks to the Sunday night decision to ensure all deposits.”

On Sunday afternoon, the Federal Deposit Insurance Corp. took control of SVB and announced that all accounts would be fully insured, not just up to the $250,000 cap. Customers like Cisek had access to their accounts on Monday.

“In the shorter term, the great news is SVB entity seems to be largely up and functioning in a business as usual manner,” Guitar says. “And they have a new leadership team, but their existing systems and predominantly the existing employee base is working well. And what we're hearing is that business as usual is taking place.”

Time to diversify

In light of the ordeal, Guitar says Houston founders and funders can take away a key lesson learned: The importance of bank diversification.

“We didn't think we needed one last week, but this week we know we need a resilience plan," she says, explaining that bank diversification is going to be added to "the operational due diligence playbook."

"We need to encourage our portfolio funds to maintain at least two banking relationships and make sure they're diversifying their cash exposure," she says.

A valued entity

Guitar says SVB is an integral part of the innovation ecosystem, and she believes it will continue on to be, but factoring in the importance of resilience and diversification.

"Silicon Valley Bank and the function that they have historically provided is is vital to the venture ecosystem," she says. "We do have confidence that either SVB, as it is currently structured or in a new structure to come, will continue to provide this kind of function for founders."

Cisek, who hasn't moved any of her company's money out of SVB, has similar sentiments about the importance of the bank for startups. She says she's grateful to the local Houston and Austin teams for opening doors, making connections, and taking chances for her that other banks don't do.

"I credit them to really being partners with startups — down to the relationships they connect you with," she says. "Some of my best friends who are founders came from introductions from SVB. I've seen them take risks that other banks won't do."

With plans to raise funding this yea, Cisek says she's already started her research on how to diversify her banking situation and is looking into programs that will help her do that.

Staying aware

Guitar's last piece of advice is to remain confident in the system, while staying tuned into what's happening across the spectrum.

“This situation that is central to the venture ecosystem is an evolving one," she says. "We all need to keep calm and confident in business as usual in the short term while keeping an eye to the medium term so that we know what happens next with this important bank and with other associated banks in the in our industry."

Ad Placement 300x100
Ad Placement 300x600

CultureMap Emails are Awesome

7 innovative startups that are leading the energy transition in Houston

meet the finalists

Houston has long been touted as the energy capital of the world, and it's now it's also a leading player in the energy transition — home to numerous startups and innovators working toward a cleaner future.

As part of the 2025 Houston Innovation Awards, our Energy Transition Business category honors innovative startups that are providing solution within renewables, climatetech, clean energy, alternative materials, circular economy, and more.

Seven energy transition companies have been named finalists for the 2025 award. They range from a spinoff stimulating subsurface hydrogen from end-of-life oil fields to a company converting prickly pear cactus biogas into energy.

Read more about these climatetech businesses, their founders, and their green initiatives below. Then join us at the Houston Innovation Awards on Nov. 13 at Greentown Labs, when the winner will be unveiled at our live awards ceremony.

Tickets are now on sale for this exclusive event celebrating all things Houston Innovation.

Anning Corporation

Clean energy company Anning Corporation is working to develop geologic hydrogen, a natural carbon-free fuel, using its proprietary stimulation approaches and advanced exploration modeling. The company said that geologic hydrogen has the potential to be the lowest-cost source of reliable baseload electricity in the U.S.

The company was founded by CEO Sophie Broun in 2024 and is a member of Greentown Labs. Last month, it also announced that it was chosen to participate in Breakthrough Energy’s prestigious Fellows Program. Anning raised a pre-seed round this year and is currently raising a $6 million seed round.

Capwell Services

Houston-based methane capture company Capwell Services works to eliminate vented oil and gas emissions economically for operators. According to the company, methane emissions are vented from most oil and gas facilities due to safety protocols, and operators are not able to capture the gas cost-effectively, leading operators to emit more than 14 million metric tons of methane per year in the U.S. and Canada. Founded in 2022, Capwell specializes in low and intermittent flow vents for methane capture.

The company began as a University of Pennsylvania senior design project led by current CEO Andrew Lane. It has since participated in programs with Greentown Labs and Rice Clean Energy Accelerator. The company moved to Houston in 2023 and raised a pre-seed round. It has also received federal funding from the DOE. Capwell is currently piloting its commercial unit with oil and gas operators.

Deep Anchor Solutions

Offshore energy consulting and design company Deep Anchor Solutions aims to help expedite the adoption of floating offshore energy infrastructure with its deeply embedded ring anchor (DERA) technology. According to the company, its patented DERA system can be installed quietly without heavy-lift vessels, reducing anchor-related costs by up to 75 percent and lifecycle CO2 emissions by up to 80 percent.

The company was founded in 2023 by current CEO Junho Lee and CTO Charles Aubeny. Lee earned his Ph.D. in geotechnical engineering from Texas A&M University, where Aubeny is a professor of civil and environmental engineering. The company has participated in numerous accelerators and incubators, including Greentown Labs, MassChallenge, EnergyTech Nexus LiftOff, and others. Lee is an Activate 2025 fellow.

Eclipse Energy

Previously known as Gold H2, Eclipse Energy converts end-of-life oil fields into low-cost, sustainable hydrogen sources. It completed its first field trial this summer, which demonstrated subsurface bio-stimulated hydrogen production. According to the company, its technology could yield up to 250 billion kilograms of low-carbon hydrogen, which is estimated to provide enough clean power to Los Angeles for over 50 years and avoid roughly 1 billion metric tons of CO2 equivalent.

Eclipse is a spinoff of Houston biotech company Cemvita. It was founded in 2022 by Moji Karimi (CEO and chairman of Cemvita), Prabhdeep Sekhon (CEO of Eclipse), Tara Karimi, and Rayyan Islam. The company closed an $8 million series A this year and has plans to raise another round in 2026.

Loop Bioproducts

Agricultural chemical manufacturing company Loop Bioproducts leverages the physiology of prickly pear cactus grown in Texas to produce bioenergy, food, and remediate industrial wastewater streams. The company uses its remote sensing technology, proprietary image-based machine learning model, and R&D innovation to capture raw biogas from the cactuses and is focused on scaling cactuses as an industrial crop on land.

Rhiannon Parker founded Loop Bioproducts in 2023.

Mars Materials

Clean chemical manufacturing business Mars Materials is working to convert captured carbon into resources, such as carbon fiber and wastewater treatment chemicals. The company develops and produces its drop-in chemical products in Houston and uses an in-licensed process for the National Renewable Energy Lab to produce acrylonitrile, which is used to produce plastics, synthetic fibers, and rubbers. The company reports that it plans to open its first commercial plant in the next 18 months.

Founded in 2019 by CEO Aaron Fitzgerald, CTO Kristian Gubsch, and lead engineer Trey Sheridan, the company has raised just under $1 million in capital and is backed by Bill Gates’ Breakthrough Energy, Shell, Black & Veatch, and other organizations.

Solidec

Chemical manufacturing company Solidec has developed autonomous generators that extract molecules from water and air and converts them into pure chemicals and fuels that are free of carbon emissions onsite, eliminating the need for transport, storage, and permitting. The company was founded around innovations developed by Rice University associate professor Haotian Wang.

The company was selected for the Chevron Technology Ventures’ catalyst program, Greentown Labs, NSF I-Corps and was part of the first cohort of the Activate Houston program. It won first place at the 2024 startup pitch competition at CERAWeek. Solidec was founded in 2023 by Wang, who serves as chief scientist, CEO Ryan DuChanois, and CTO Yang Xia. It closed a $2.5 million seed round earlier this year.

-----

The Houston Innovation Awards program is sponsored by Houston Community College, Houston Powder Coaters, FLIGHT by Yuengling, and more to be announced soon. For sponsorship opportunities, please contact sales@innovationmap.com.

Rice University team develops eco-friendly method to destroy 'forever chemicals' in water

clean water research

Rice University researchers have teamed up with South Korean scientists to develop the first eco-friendly technology that captures and destroys toxic “forever chemicals,” or PFAS, in water.

PFAS have been linked to immune system disruption, certain cancers, liver damage and reproductive disorders. They can be found in water, soil and air, as well as in products like Teflon pans, waterproof clothing and food packaging. They do not degrade easily and are difficult to remove.

Thus far, PFAS cleanup methods have relied on adsorption, in which molecules cling to materials like activated carbon or ion-exchange resins. But these methods tend to have limited capacity, low efficiency, slow performance and can create additional waste.

The Rice-led study, published in the journal Advanced Materials, centered on a layered double hydroxide (LDH) material made from copper and aluminum that could rapidly capture PFAS and be used to destroy the chemicals.

The study was led by Rice professor Youngkun Chung, a postdoctoral fellow under the mentorship of Michael S. Wong. It was conducted in collaboration with Seoktae Kang, professor at the Korea Advanced Institute of Science and Technology, and Keon-Ham Kim, professor at Pukyung National University, who first discovered the LDH material.

The team evaluated the LDH material in river water, tap water and wastewater. And, according to Rice, that material’s unique copper-aluminum layers and charge imbalances created an ideal binding environment to capture PFAS molecules.

“To my astonishment, this LDH compound captured PFAS more than 1,000 times better than other materials,” Chung, lead author of the study and now a fellow at Rice’s WaTER (Water Technologies, Entrepreneurship and Research) Institute and Sustainability Institute, said in a news release. “It also worked incredibly fast, removing large amounts of PFAS within minutes, about 100 times faster than commercial carbon filters.”

Next, Chung, along with Rice professors Pedro Alvarez and James Tour, worked to develop an eco-friendly, sustainable method of thermally decomposing the PFAS captured on the LDH material. They heated saturated material with calcium carbonate, which eliminated more than half of the trapped PFAS without releasing toxic by-products.

The team believes the study’s results could potentially have large-scale applications in industrial cleanups and municipal water treatments.

“We are excited by the potential of this one-of-a-kind LDH-based technology to transform how PFAS-contaminated water sources are treated in the near future,” Wong added in the news release. “It’s the result of an extraordinary international collaboration and the creativity of young researchers.”

Axiom Space announces new CEO amid strategic leadership change

new leader

Six months after promoting Tejpaul Bhatia from chief revenue officer to CEO, commercial space infrastructure and human spaceflight services provider Axiom Space has replaced him.

On Oct. 15, Houston-based Axiom announced Jonathan Cirtain has succeeded Bhatia as CEO. Bhatia joined Axiom in 2021. Cirtain remains the company’s president, a role he assumed in June, according to his LinkedIn profile.

In a news release, Axiom said Cirtain’s appointment as CEO is a “strategic leadership change” aimed at advancing the company’s development of space infrastructure.

Axiom hired Cirtain as president in June, according to his LinkedIn profile. The company didn’t publicly announce that move.

Kam Ghaffarian, co-founder and executive chairman of Axiom, said Cirtain’s “proven track record of leadership and commitment to excellence align perfectly with our mission of building era-defining space infrastructure that will drive exploration and fuel the global space economy.”

Aside from praising Cirtain, Ghaffarian expressed his “sincere gratitude” for Bhatia’s work at Axiom, including his leadership as CEO during “a significant transition period.”

Bhatia was promoted to CEO in April after helping Axiom gain more than $1 billion in contracts, Space News reported. He succeeded Ghaffarian as CEO. Axiom didn’t indicate whether Bhatia quit or was terminated.

Cirtain, an astrophysicist, was a senior executive at BWX Technologies, a supplier of nuclear components and fuel, for eight years before joining Axiom. Earlier, Cirtain spent nearly nine years in various roles at NASA’s Marshall Space Flight Center in Huntsville, Alabama. He previously co-founded a machine learning company specializing in Earth observation.

“Axiom Space is pioneering the commercialization of low-Earth orbit infrastructure while accelerating advancements in human spaceflight technologies,” Cirtain said. “I look forward to continuing our team’s important work of driving innovation to support expanded access to space and off-planet capabilities that will underpin the future of space exploration.”

Among other projects, Axiom is developing the world’s first commercial space station, creating next-generation spacesuits for astronauts and sending astronauts on low-Earth orbit missions.