3 Houston innovators to know this week

Who's who

Meet this week's Houston innovators to know. Courtesy photos

It's safe to say most Houstonians have been glued to their TVs watching the Houston Astros in the World Series, but the city never sleeps on innovation news. And, one of this week's who's who of Houston innovation even has a World Series-worthy technology.

Here are this week's Houston innovators to know.

Patrick Lewis, co-founder of BBL Ventures

Patrick Lewis co-founded BBL Ventures that helps connect energy companies to startups that have innovative technology solutions for their pain points. Courtesy of Patrick Lewis

On last week's episode of the Houston Innovators Podcast, Patrick Lewis, co-founder of BBL Ventures, with his 25-year career in tech investing, took the mic to discuss Houston innovation, the energy tech industry, and BBL's progress with matchmaking big corporations and the startups that can help them stay competitive.

"At our core, we're an investment firm, but our mission statement is to be the innovation partner for the energy and natural resources industry," Lewis says on the podcast. Read more.

Brian DiPaolo, the chief technology officer of Accudata Systems

Through a partnership between two Houston companies, installing breast cancer screening technology is easier than ever. Courtesy of Acudata Systems

It's National Breast Cancer Awareness Month, and the demand for access to detection facilities is rising. Two Houston companies joined forces to help optimize detection.

Brian DiPaolo, the chief technology officer of Accudata Systems, along with Solis Mammography announced a new partnership with the creation of Center-in-a-Box, a technology solution that supports the rapid deployment of breast screening and diagnostic service. Combining IT design, engineering, equipment installation, and go-live support into one full-service package, Center-in-a-Box is forecasted to grow Solis by approximately 30 to 60 new mammography centers within the next 24 months.

"What differentiates Accudata is the services we provide," says DiPaolo. "From procurement and project management to design, installation, and ongoing support, Accudata is a one-stop shop for turning up a new site quickly." Read more.

Ben Fairchild, founder of Fairchild Sports Performance

Ben Fairchild is in the business of keeping athletes — from professionals to amateurs — in top shape. Courtesy of FSP

Sports technology is a burgeoning business and Ben Fairchild, founder of Fairchild Sports Performance, sees the value for its clients. Fairchild has created an app that allows users to stay in shape and access training from anywhere. This has been especially helpful for Fairchild's MLB athletes, which includes World Series athletes George Springer, right fielder for the Houston Astros, and Anthony Rendon, third baseman for the Washington Nationals,

"The FSP app is for anybody who has a body," Fairchild says. "We want to find solutions for long-term health and fitness challenges for people of all walks of life." Read more.

Through a partnership between two Houston companies, installing breast cancer screening technology is easier than ever. Getty Images

Houston tech company is helping to scale breast cancer screening using IT solutions

tech detection

With October being National Breast Cancer Awareness Month, two Houston companies are working to provide a fast and accurate diagnostic solution.

Accudata Systems and Solis Mammography announced a new partnership with the creation of Center-in-a-Box, a technology solution that supports the rapid deployment of breast screening and diagnostic service. Combining IT design, engineering, equipment installation, and go-live support into one full-service package, Center-in-a-Box is forecasted to grow Solis by approximately 30 to 60 new mammography centers within the next 24 months.

Brian DiPaolo, the chief technology officer of Accudata Systems, tells InnovationMap that the product side of the solution includes equipment for a healthcare clinic, network and security infrastructure, as well as computers, tablets, phones, printers, scanners, and more.

According to a news release, there is a great demand to provide more centers nationwide, Solis saw the need for innovation and a cost-effective solution and turned to Accudata for assistance. In partnership with Solis, Accudata created a full-service solution for the IT design, equipment, and deployment of one clinic.

"Accudata identified the business challenge centered around people, processes, and products," says DiPaolo. "Solis was unable to scale quickly, limited resources could not provide adequate support, and they did not have the necessary project management and service delivery capabilities. Procurement from different vendors and manufacturers was difficult to manage, and the current network architecture made the process of spinning up new sites difficult and time-consuming."

DiPaolo tells InnovationMap that the company assists Solis when it's time to build out a new clinic or renovate an existing site, first performing a wireless survey to figure out the size of the clinic (small, medium, or large) and the equipment needed. Once this step is complete and the team understands the need, Accudata can begin the process of setting up the equipment in their lab before shipping it to the site and completing the deployment. The total turnaround time from purchase to clinic go-live is just three weeks.

The partnership creates a powerful match. Accudata Systems, founded in 1982 by Rich Johnson and Terry Dickson, is one of the largest IT integrators in the United States with 136 Houston-based employees, as well as a few in San Antonio and Austin and 30 in Dallas. Solis Mammography is the nation's largest independent provider of breast screening and diagnostic services with more than 50 centers in Texas, Arizona, Ohio, North Carolina, Pennsylvania, Washington, D.C, Maryland, and Virginia.

"According to the World Health Organization, breast cancer is the most frequent cancer among women, impacting 2.1 million women each year," says Solis Chief Information Officer Guhan Raghu in a news release. "Breast cancer rates are increasing in nearly every region globally, making the screening and diagnostic services Solis provides ever more vital to early diagnosis and treatment. The Center-in-a-Box IT solution developed with Accudata allows Solis to rapidly address mammography needs across the United States and further fulfill our promise to help women achieve and maintain breast health and peace of mind."

Ad Placement 300x100

Ad Placement 300x600

CultureMap Emails are Awesome

Property Showcase

Elon Musk's SpaceX files initial paperwork to sell shares to the public

Incoming IPO

Elon Musk's space exploration company has filed preliminary paperwork to sell shares to the public, according to two sources familiar with the filing, a blockbuster offering that would likely rank as the biggest ever and could make its founder the world's first trillionaire.

A SpaceX IPO promises to be one of the biggest Wall Street events of the year, with several investment banks lining up to help raise tens of billions to fund Musk's ambitions to set up a base on the moon, put datacenters the size of several football fields in orbit and possibly one day send a man to Mars.

The sources spoke on condition of anonymity because they were not authorized to talk publicly about the confidential registration with the Securities and Exchange Commission.

SpaceX did not respond immediately to a request for comment.

Exactly how much SpaceX plans to raise has not been disclosed but the figure is reportedly as much as $75 billion. At that level, the offering would easily eclipse the $29 billion that Saudi Aramco raised in its IPO in 2019.

The offering, coming possibly in June, could value all the shares of SpaceX at $1.5 trillion, nearly double what the company was valued in December when some minority owners sold their stakes, according to research firm Pitchbook, before an acquisition that increased its size.

Musk owns 42% of the SpaceX now, according to Pitchbook, though that figure will change with the IPO when new owners are issued shares. In any case, he is likely to pierce the trillion dollar mark because he is already close. Forbes magazine estimates Musk's net worth at roughly $823 billion.

In addition to making reusable rockets to hurl astronauts and hardware into orbit, SpaceX owns Starlink, the world’s largest satellite communications company. The company also recently brought under its roof two other Musk businesses, social media platform X, formerly Twitter, and artificial intelligence business, xAI, in a controversial transaction because both the seller and the buyer were controlled by him.

SpaceX has become the biggest commercial launch company in its industry, responsible for sending payloads into orbit for customers across the globe, but has also benefited from big taxpayer spending. That has raised conflicts of interest issues given that Musk was the biggest donor to President Donald Trump's campaign and is still a big backer.

In the past five years, SpaceX won $6 billion in contracts from NASA, the Defense Department and other U.S. government agencies, according to USAspending.gov.

Among current SpaceX owners is Donald Trump Jr, the president's oldest son. He owns a shares through 1789 Capital. That venture capital firm made him a partner shortly after his father won the presidency for a second time and has been buying up federal contractors seeking to win taxpayer money ever since.

The White House and Trump himself have repeatedly denied there are any conflicts of interest between his role as president and his family's businesses.

8+ can't-miss Houston business and innovation events in April

where to be

Editor’s note: Houston's weeklong innovation festival kicks off April, followed by Rice University's globally recognized pitch competition returning for its 26th year. Plus, find coworking pop-ups, industry meetups, pitch battles and even a crawfish boil on the calendar. Here’s what not to miss and how to register. Please note: this article might be updated to add more events.

March 30-April 4 — H-Town Roundup

Celebrate innovation, entrepreneurship and collaboration at Houston Exponential's sixth-annual H-Town Roundup. During the free event series, previously known as Houston Tech Rodeo, attendees can expect insightful talks, workshops and networking events at venues across the city.

This event began March 30. Register here.

April 2 — Industrious Coworking Day

Enjoy a complimentary day of cowering at Industrious and network with professionals at the Ion. Breakfast, snacks, wifi and workspace tours are included. Following the cowering day, Industrious will host happy hour at Second Draught from 4-6 p.m.

This event is Thursday, April 2, from 8:30 a.m.-5 p.m. at the Ion. Register here.

April 2 — Technology Summit for Women

The fourth annual Women in Tech Cummil will feature speakers across three core tracks: Transformation + Digital strategy, Cyber + Risk + Resilience, and AI in Practice. Pearl Chu, director of technical domains and university relations at SLB, will give the opening remarks. Other panelists come from CenterPoint Energy, BP, Technip Energies and other leading companies.

This event is Thursday, April 2, from 2-5 p.m. at the Ion. Register here.

April 8 — Veterans Business Battle

Hear pitches from veterans and entrepreneurs as they compete for more than $10 million in investments at Rice Businesses' 12th annual Veterans Business Battle. This year, the two-day event will also feature a Small Business Expo, which invites Houston-based, veteran-owned businesses to participate in education, networking and the opportunity to showcase their business. Moonshots Capital and Mercury Fund will also host a fireside chat.

This event begins Wednesday, April 8, at 11 a.m. at the Ion. Click here to register.

April 9-11 — Rice Business Plan Competition

The Rice Alliance for Technology and Entrepreneurship will host the 26th annual Rice Business Plan Competition this month. Forty-two student-led teams from around the world, including one team from Rice, will present their plans before more than 300 angel, venture capital, and corporate investors to compete for more than $1 million in prizes.

This event begins Thursday, April 9. Find more information here.

April 10 — BioHouston Chili Cookoff

Connect with Houston's life sciences community at BioHouston's 21st annual chili cookout. This event is geared toward startup founders, researchers and industry veterans alike.

This event is Friday, April 10, from noon-4 p.m. at Bayou City Event Center. Register here.

April 14 — Mercury Fund Day at the Ion: Agentic Commerce

Don’t miss the latest installment of Mercury Fund Day at the Ion, previously known as Software Day. The recurring monthly event features office hours (by application), a keynote and networking opportunities. This month's topic focuses on agentic commerce.

This event is Tuesday, April 14, from 3:30-7 p.m. at the Ion. Register here.

April 19 – UH Energy Industry Crawfish Boil

Head to the UH Cullen College of Engineering Green Space for the 35th annual UH Energy Industry Crawfish Boil. The event will include a student showcase, STEM activities, a kids zone, live music, networking and, of course, crawfish. Proceeds from the event will support the multidisciplinary capstone fund that aims to increase professional readiness for Cullen College engineering and technology students.

This event is Sunday, April 19, from 1-5 p.m. at the Cullen College of Engineering Green Space. Find more information here.

April 24 — Rice Business Healthcare Conference

Leading experts, innovators and the next generation of healthcare leaders will converge at the Rice Business Healthcare Conference. Hosted by the Rice Business Healthcare Association, the conference will explore AI's potential impact on the sector.

This event is Friday, April 24, from 8 a.m.-2 p.m. at McNair Hall on Rice University's campus. Find more information here.

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.

---

This article first appeared on EnergyCapitalHTX.com.

View All Listings

INNOVATIONMAP EMAILS ARE AWESOME