Six Houston startups — from health tech to aerospace — have moved into the new East End Maker Hub. Image courtesy of East End Maker Hub

The East End Maker Hub in Houston's East End District is growing with the recent addition of six startups.

"All of these companies cite the East End Maker Hub's physical innovation infrastructure, customizable spaces, strategic location, and potential collaborators as motivations for moving their operations into the hub," Patrick Ezzell, president of Urban Partnerships Community Development Corp., one of the hub's creators, says in an April 26 news release. "All are in the process of growing their teams and view Houston and, more specifically, the East End as a key resource for human capital heading into the future."

The companies that recently joined the East End Maker Hub are:

  • Alchemy Industrial. The company is a contract manufacturer that uses advanced technologies to develop industrial products for the medical, renewable energy, and drone sectors. Mush Khan, a British-born entrepreneur, established the startup last year.
  • CarbonATM. Led by Frank Zamarron and a group of former NASA engineers, CarbonATM aims to improve monitoring of ambient air quality with a low-cost portable device.
  • Gbowo Inc. This startup, founded in 2020, seeks to help companies reduce the environmental and financial costs of last-mile deliveries through the use of low-speed electrical vehicles. Ganiu Ladejobi is the founder and CEO.
  • Horizon Aeromarine. Established in 2020, the startup develops software and electronics from unmanned aerial and marine vehicles. Laura Sammons and Denver Hopkins are the founders.
  • Parallax 621. Founded by Benjamin Peters and Phillip Lentz, the Parallax 621 tech think tank develops technology based on theoretical physics research.
  • Polyvascular. The startup, established in 2014, makes a polymer-based heart valve for children with congenital heart disease.

The East End Maker Hub, at 6501 Navigation Blvd., is a collaboration between TXRX Labs and Urban Partnerships Community Development that houses crafters, fabricators, and tech manufacturers. TXRX Labs invested $1.25 million in equity to set up the hub. Urban Partnerships Community Development raised $35.75 million in capital to get the project off the ground.

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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.