Energytech Cypher co-founders Nada Ahmed and Jason Ethier. Photo via energytechcypher.com

Houston-based Energytech Nexus has rebranded.

The cleantech founders community will now be known as Energytech Cypher. Organizers say the new name was inspired by the Arabic roots of the word cypher, ṣifr, which is also the root of the word zero.

"A cypher is a key that unlocks what's hidden," Nada Ahmed, co-founder and chief revenue officer of Energytech Cypher, said in a news release. "And zero? Zero is where every transformation begins, the leap from 0 to 1, from idea to reality, from potential to power. We decode the energy transition by connecting the right founders, the right capital, and the right corporate partners at the right time, because the most important journey in energy is the one that takes you from nothing to something."

Energytech Nexus has rebranded to Energytech Cypher.

Co-founder and CEO Jason Ethier says that the name change better reflects the organization's mission.

"The energy transition doesn't have a technology problem. It has a connection problem," Ehtier added in the release. "The right founders exist. The right investors exist. The right partners exist. What's been missing is the infrastructure to bring them together—to decode the complexity, remove the friction, and make sure the best technologies find the markets that need them. That's what this community has always done. Energytech Cypher is the name that finally says it."

Energytech Cypher, previously known as Energytech Nexus, was first launched in 2023 and has grown from a podcast to a 130-member ecosystem. It has supported startups including Capwell Services, Resollant, Syzygy Plasmonics, Hertha Metals, Solidec and many others.

It is known for its flagship programs like the Pilotathon, which connects founders with industry partners for pilot opportunities. The event debuted in 2024.

Energytech Cypher also launched its COPILOT Accelerator last year. The accelerator partners with Browning the Green Space, a nonprofit that promotes diversity, equity and inclusion (DEI) in the clean energy and climatech sectors. The inaugural cohort included two Houston-based startups and 12 others from around the U.S.

It also hosts programs like Liftoff, Energy Tech Market, lunch and learns, CEO roundtables, investor workshops and international partnership initiatives.

Last year, Energytech Cypher also announced a new strategic ecosystem partnership with Greentown Labs, aimed at accelerating growth for clean energy startups. It also named its global founding partners, including Houston-based operations such as Chevron Technology Ventures, Collide, Oxy Technology Ventures, and others from around the world.

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This article originally appeared on our sister site, EnergyCapitalHTX.com.

The seven selected startups will have year-long curated curriculum, incubation at Greentown's two locations, a non-dilutive $25,000 grant, and access to mentors, corporates, and more from both Greentown and BGS's networks. Photo via GreentownLabs.com

2 Houston startups join inclusive accelerator for sustainability innovation

ready to grow

Two organizations have named the seven startup participants for their accelerator that works to advance BIPOC-led startups in the climatetech space.

Greentown Labs and Browning the Green Space named the newest accelerator for the Advancing Climatetech and Clean Energy Leaders Program, or ACCEL. The seven selected startups will have year-long curated curriculum, incubation at Greentown's two locations, a non-dilutive $25,000 grant, and access to mentors, corporates, and more from both Greentown and BGS's networks.

"Building on the momentum and success of our inaugural year, Greentown Labs is proud to welcome this incredible cohort of BIPOC-led startups to Year 2 of ACCEL," Greentown Labs CEO and President Kevin Knobloch says in a news release. "These founders and their teams are developing a dynamic array of much-needed climatetech solutions, and we're privileged to support them on their startup journeys as they advance their technologies and grow their teams."

The 2024 cohort includes:

  • AtmoSpark Technologies, based in Houston, is an atmospheric water generation company with a patented electro-condensation technology, which has a lower energy footprint than that of current water-generation methods.
  • Cambridge, Massachusetts-based Aquasaic is harnessing biology to clean water for planetary and human health.
  • Houston-based Axis Sky Renewables creates innovative wind solutions, specializing in vertical-axis wind turbines that are less expensive to produce, deploy, and maintain than traditional wind turbines.
  • Carbon Negative Solutions, from Rock Hill, New York, is creating smart-city-ready, carbon-negative concrete products.
  • NYC-based Cellsense develops interactive bio-embellishments that create new possibilities for designers while eliminating microplastics and replacing fossil-fuel-based material at scale.
  • EcoForge, headquartered in Providence, Rhode Island, is a building-material technology company developing affordable, high-performance building materials from local agricultural residues, replacing energy-intensive, fossil-based materials.
  • Boston-based Sankofa Dynamics creates low-cost, eco-friendly solutions for water, air, and energy problems.

The program is supported by the Massachusetts Clean Energy Center, Microsoft's Climate Innovation Fund, Equinor, Barr Foundation.

"These BIPOC-led startups are developing climate technologies that will lead us to a more equitable and sustainable future," MassCEC CEO Dr. Emily Reichert, the former CEO of Greentown, says in the release. "We want ALL climatetech innovators and entrepreneurs to thrive here in Massachusetts. We are proud to support the ACCEL accelerator, created and led by Greentown Labs and Browning the Green Space. The ACCEL program is helping us build a more diverse innovation ecosystem by breaking down barriers and expanding opportunities."

ACCEL was announced in 2022, and the first cohort featured six climatetech startups — two based in Houston.

"Our second year of ACCEL brings together an inspirational and diverse cohort of seven BIPOC-led startups developing tech to accelerate the distribution of climate solutions that address community needs," Browning the Green Space President and Executive Director Kerry Bowie adds. "We are thrilled to continue to strengthen our partnership with Greentown Labs and VentureWell and build on the learnings from the pilot cohort to provide critical support infrastructure for entrepreneurs of color."

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This article originally ran on EnergyCapital.

Two climatetech startups are joining a new program from Greentown Labs and Browning the Green Space. Photo via greentownlabs.com

2 Houston startups tapped for inaugural BIPOC-focused accelerator cohort

seeing green

A new accelerator focused on BIPOC-led energy tech startups named its inaugural cohort, and two Houston-based companies made the cut.

The new program — Advancing Climatetech and Clean Energy Leaders Program, or ACCEL — is an initiative led by Greentown Labs and Browning the Green Space that was originally announced in November. The program was established to provide access to funding, networking connections, resources, and more to BIPOC-led startups working on a climatetech solution.

The program is supported by the Massachusetts Clean Energy Center, or MassCEC, a state economic development agency, and the Boston-based Barr Foundation, a Boston-based foundation. Each of the selected startups will receive a $25,000 grant, incubation at Greentown, mentorship from Greentown and BGS’s networks, and access to a curriculum curated by VentureWell, a nonprofit with deep expertise in the climatetech space.

“We are thrilled and eager to support this exceptional cohort of startup leaders as they tackle some of our world’s biggest climate challenges,” says Kevin T. Taylor, CFO and interim CEO at Greentown Labs, in a news release. “Through partnerships with Browning the Green Space and VentureWell—and with the support from MassCEC and the Barr Foundation—we look forward to offering intentional mentorship, training, and networking opportunities to help these BIPOC-led startups thrive.”

The co-located program will host startups at each of the two Greentown Labs locations in the Houston and Boston areas. The inaugural cohort includes:

  • Active Surfaces, based in Salem, Massachusetts, unlocks dual land-use applications through its ultra-thin-film, flexible solar technology. Its co-founders are Shivam Bhakta and Richard Swartwout.
  • Houston-based DrinKicks is a sneaker-themed consumer-products company that is focused on repurposing food waste and recycled materials into sustainable goods such as shoes, sports equipment, and clothing, all while educating consumers on the power of the circular economy. The company was co-founded by Kristeen Reynolds, Michael Fletcher, and Kristen Lee.
  • EarthBond, headquartered in Cambridge, Massachusetts, leverages group financing and carbon accounting to lower costs and risk in the energy transition of Nigeria's $14B fuel-based, off-grid generator market. Chidalu Onyenso founded the business.
  • Amherst, Massachusetts-based florrent is a bio-based materials and energy storage company providing solutions to address critical bottlenecks to the global decarbonization and electrification of utilities, transportation, and buildings. Its co-founders are Jose LaSalle, Joe Hastry, and Alexander Nichols. florrent is a current Greentown member.
  • frakktal, founded in Houston by Jhana Porter, is a B2B materials company developing bio-based polymer processes for the replacement of fossil-fuel-based feedstocks across industries. The company is a current Greentown member.
  • SpadXTech from Worcester, Massachusetts, is contributing to the reduction of CO2 emissions impacting several industries such as packaging, textiles, transportation, filtration, and construction through the manufacturing of its core and versatile material platform technology. Its co-founders are Lina M. González and Connor Crawford.

“We are inspired by and excited to support the wealth of innovation and fresh perspectives on climate solutions offered by our inaugural ACCEL cohort of startup leaders,” said Kerry Bowie, executive director and president of Browning the Green Space. “Through this partnership with Greentown Labs we are able to build critical support infrastructure for entrepreneurs of color and accelerate the equitable development and distribution of climate solutions across all communities.”

The program will officially kick off at an event on February 23 at Greentown’s Boston location.

Greentown Labs announced its latest accelerator program — this one is focused on DEI in clean energy innovation. Photo via GreentownLabs.com

Greentown Houston announces co-located accelerator for energy innovators of color

browning the green space

Greentown Labs has announced its latest accelerator program that will be co-located in both its Houston and Boston-area spaces.

In partnership with Browning the Green Space, Greentown Labs has officially launched the Advancing Climatetech and Clean Energy Leaders Program, or ACCEL, and is seeking applications from climatetech entrepreneurs who identify as Black, Indigenous, and/or People of Color.

The startups accepted into the year-long program will receive a curated curriculum, incubation at one of the Greentown locations, and mentorship from its large network of energy professionals. Each participant will also receive a non-dilutive $25,000 grant. Applications for ACCEL are open now and are due by Dec. 23

“We need all hands on deck to solve the climate crisis and foster a just energy transition,” says Emily Reichert, CEO of Greentown Labs, in a news release. “We are proud to partner with Browning the Green Space on this important program, and are eager to support more underrepresented founders through ACCEL to help build a more diverse, inclusive, and equitable climatetech industry.”

BGS is a nonprofit that is focused on making clean energy other climate-related fields more diverse, equitable, and inclusive. The organization is headquartered in Boston.

“We are excited to work in partnership with Greentown Labs to build critical support infrastructure for entrepreneurs of color and accelerate the equitable development and distribution of climate solutions across all communities,” says Kerry Bowie, executive director and president of Browning the Green Space, in the release. “ACCEL will help us move closer to where we all should be collectively, and create the opportunity to change the face of clean energy as we know it.”

The new program is also supported the Massachusetts Clean Energy Center, a state economic development agency dedicated to accelerating the growth of the clean energy sector across the Commonwealth, and then Boston-based Barr Foundation, a foundation with a regional focus, working in partnership with partners to elevate the arts, advance solutions for climate change, and connect all students to success in high school and beyond, per the news please.

“The Barr Foundation’s climate program has made a commitment to centering racial equity in the energy transition,” says Kathryn Wright, senior program officer of Clean Energy at The Barr Foundation, in the release. “We are excited to support this crucial opportunity to provide education and mentorship for underrepresented climate entrepreneurs in our region. We look forward to seeing the impact of the ACCEL program in the coming years.”

The curriculum for ACCEL will be led by Hadley, Massachusetts-based VentureWell, a nonprofit that funds and trains innovators to create successful, socially beneficial businesses. Applicants may be based anywhere in the world, but will be expected to attend in-person elements of the program at either Greentown Boston or Greentown Houston.

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Houston-based Fervo Energy bumps up IPO target to $1.82 billion

IPO update

Houston-based geothermal power company Fervo Energy is now eyeing an IPO that would raise $1.75 billion to $1.82 billion, up from the previous target of $1.33 billion.

In paperwork filed Monday, May 11 with the U.S. Securities and Exchange Commission, Fervo says it plans to sell 70 million shares of Class A common stock at $25 to $26 per share.

In addition, Fervo expects to grant underwriters 30-day options to buy up to 8.33 million additional shares of Class A common stock. This could raise nearly $200 million.

When it announced the IPO on May 4, Fervo aimed to sell 55.56 million shares at $21 to $24 per share, which would have raised $1.17 billion to $1.33 billion. The initial valuation target was $6.5 billion.

A date for the IPO hasn’t been scheduled. Fervo’s stock will be listed on Nasdaq under the ticker symbol FRVO.

Fervo, founded in 2017, has attracted about $1.5 billion in funding from investors such as Bill Gates-founded Breakthrough Energy Ventures, Google, Mitsubishi Heavy Industries, Devon Energy (which is moving its headquarters to Houston), Tesla co-founder JB Straubel, CalSTRS, Liberty Mutual Investments, AllianceBernstein, JPMorgan, Bank of America and Sumitomo Mitsui Trust Bank.

Fervo’s marquee project is Cape Station in Beaver County, Utah, the world’s largest EGS (enhanced geothermal system) project. The first phase will deliver 100 megawatts of baseload clean power, with the second phase adding another 400 megawatts. The site can accommodate 2 gigawatts of geothermal energy. Fervo holds more than 595,000 leased acres for potential expansion.

Cape Station has secured power purchase agreements for the entire 500-megawatt capacity. Customers include Houston-based Shell Energy North America and Southern California Edison.

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This article originally appeared on our sister site, EnergyCapitalHTX.com.

Texas university's new flight academy opens at Houston Spaceport

cleared for takeoff

The vehicles may not have “student driver” stickers on them, but Texas Southern University has moved a dozen planes into its new training facility at the Houston Spaceport, opening the way for student flyers to use the facility.

TSU previously reached a deal with Houston Airports and the City of Houston in 2023 to house its prospective Flight Academy at Ellington Field. At the time, TSU had a small fleet of nine planes for student use, but a $5.5 million investment from the city greatly expanded the space available.

The Flight Academy includes a 20,000-square-foot hangar that serves as a TSU satellite campus. The school now has a fleet of 12 Cirrus SR20 aircraft that were acquired last year through state and alumni funding. An additional 4,500 square feet is used as classroom and office space. An 8,000-gallon fuel tank will support flight training operations.

TSU first launched its Aviation Science Management program in 1986 and added a professional pilot program in 2016. The school is now part of the United Airlines pipeline program and has also forged relationships with Delta and Southwest.

“I want to commend Texas Southern University and Houston Airports for their leadership and partnership in advancing aviation education right here in our city,” Houston City Councilwoman Dr. Carolyn Evans-Shabazz in a press release.

“It connects our students to high-paying, high-demand careers in aviation and aerospace. This is how we grow a city in the right way—by investing in workforce development, aligning education with industry and making sure our residents are prepared to lead in the industries of tomorrow. Houston is already a global leader in aerospace and projects like this strengthen that position even further, especially here at Ellington, where innovation and opportunity continue to take flight.”

The City of Houston signed an agreement to continue funding the academy for five years.