Trending this week on InnovationMap is news about a new electric vehicle initiative from the mayor's office, three Houston innovators to know, and more. Photo by PeopleImages

Editor's note: If you zoned out of Houston innovation news this week — perhaps distracted by baseball post-season games — we've got you covered. Some of the highlights include a new electric vehicle initiative from the mayor's office, updates from The Ion, and the Houstonians with the deepest pockets.

3 Houston innovators to know this week

Samantha Lewis, Tilman Fertitta, and Tiffany Masterson are this week's innovators to know in Houston. Courtesy images

Houston entrepreneurs never cease to impress, leaving a mark on the city for their business minds, creativity, and overall gumption. This week's three innovators to know are no exception.

From a startup venture capitalist and Houston's most recognizable billionaire to a local mom that created — and now sold — a skincare line with a cult following, these are this week's innovative Houstonians to keep an eye on. Continue reading.

Station Houston CEO to lead operations at The Ion

The Rice Management Company has created a new operations organization for The Ion and has selected Gabriella Rowe to lead it. Courtesy of Rice University

A Houston innovation leader is switching sides of the table to support on a highly anticipated entrepreneurial hub.

Rice Management Company has created an operating organization for The Ion and has named Gabriella Rowe as the executive director. Rowe has served as CEO of Station Houston since August 2018. The Ion, which broke ground on the site of the Midtown Sears building in July, is expected to deliver early 2021. Continue reading.

Houston billionaires named to Forbes' list of richest Americans for 2019

Pipeline mogul and Memorial Park benefactor Richard Kinder (pictured with his wife, Nancy) leads the Houston billionaires. Photo by Michelle Watson/Catchlight Group

Who's the richest person in Texas? That title once again goes to Walmart heiress Alice Walton, of Fort Worth, according to the newly released Forbes 400 ranking. But seven very wealthy Houstonians also appear on the list of the 400 richest people in the country right now.

The top Houstonian on the list is Houston pipeline mogul Richard Kinder, who is tied with another Walmart heiress, Ann Walton Kroenke, for sixth place in Texas and No. 67 nationally. Forbes estimates they're each worth $7.5 billion. Continue reading.

Mayor announces major effort to reduce emissions on Houston's roadways

Through increasing awareness, affordability, and accessibility, the city of Houston hopes to grow the number of electric vehicles on Houston roads by 2030. Courtesy of EVolve Houston

The city of Houston has taken a major step toward reducing carbon emissions caused by its estimated 1.3 million vehicles that drive the city's streets daily.

Mayor Sylvester Turner announced a new partnership between the government, local businesses, and academic leaders that has created EVolve Houston. The coalition is aimed at boosting electric vehicle sales to 30 percent of new car sales in Houston by 2030. Continue reading.

A Houston entrepreneur is thinking out of the box with smart lockers for food and personal items

Dommonic Nelson wants to make sure everyone's lunches are safe. Photo via cleverboxcompany.com

Someone kept taking Dommonic Nelson's lunch. A Texas Southern University student living at home and commuting from Greenspoint, Nelson only had a few minutes to scarf down his lunches between studying Maritime Transportation. But regularly, he'd reach into the community refrigerator on campus, only to find, well, nothing.

One night, Nelson was in the shower, wondering why his lunch had been taken again, and the long journey to Clever Box Co. began. He barged into his grandfather's room — it was 2:40 in the morning — and told him he had an idea for a series of high-tech boxes designed for storing various things. The boxes could keep personal items (the Stash Box) and packages (the Happy Box) in large companies and coworking spaces, and for people to quickly pick up their food from restaurants without having to wait in line (the Yummy Box). If Nelson couldn't get his lunches back, he was going to make an entire business on making sure no one got stolen from again. Continue reading.

Dommonic Nelson wants to make sure everyone's lunches are safe. Photo via cleverboxcompany.com

A Houston entrepreneur is thinking out of the box with smart lockers for food and personal items

protect your lunch

Someone kept taking Dommonic Nelson's lunch. A Texas Southern University student living at home and commuting from Greenspoint, Nelson only had a few minutes to scarf down his lunches between studying Maritime Transportation. But regularly, he'd reach into the community refrigerator on campus, only to find, well, nothing.

One night, Nelson was in the shower, wondering why his lunch had been taken again, and the long journey to Clever Box Co. began. He barged into his grandfather's room — it was 2:40 in the morning — and told him he had an idea for a series of high-tech boxes designed for storing various things. The boxes could keep personal items (the Stash Box) and packages (the Happy Box) in large companies and coworking spaces, and for people to quickly pick up their food from restaurants without having to wait in line (the Yummy Box). If Nelson couldn't get his lunches back, he was going to make an entire business on making sure no one got stolen from again.

"We're taking ordinary lockers normally found in office buildings and retrofitting them to make them smart lockers," Nelson says.

It wasn't a bad idea, given a 2017 Peapod study that claims 71 percent of Americans have had their lunch stolen. But like most late-night shower ideas, Nelson's didn't work. Firstly, it wasn't a locker — he was stuck on refashioning community refrigerators, and no one wanted to buy in. He denied a $70,000 job offer in the maritime industry to make $14.50 an hour at Southwest Airlines, which gave him free travel. That took him all over the country, and finally, on one trip to California, where a last-minute meeting with Michael Feinberg, whose firm Bluefish Concepts was featured on CNBC's Make Me A Millionaire Inventor, crushed his dreams. You have the right idea, Feinberg said, but the wrong formula. It seemed like nobody needed a smart refrigerator. On the flight home to Houston, Nelson cried.

Nelson had entered entrepreneurship early. As a kid, he found his stepdad's old CDs and asked to try selling them. He made $500 that first week, bought a CD burner, and made $4,000 in three months by ripping tunes from beloved artists and selling them on the cheap. He was making cash in a place where there wasn't a whole lot of it — and he didn't do it by reinventing how music was sold; he just made it a more efficient process for his Greenspoint neighbors.

It was the same idea that would save Nelson's forthcoming business. Back in Houston, some of Feinberg's words echoed in his head: We already have refrigerators, we already have lockers. Why not just enhance them? Nelson didn't need to reinvent the wheel, or the refrigerator. He just needed to bring high-tech efficiency to lockers, to make them more secure but still easy to use.

One day, not long after getting back from his California meeting, Nelson ordered food online. He was busy, trying to work through the kinks in the design and figure out new markets, but he had to wait in line at the restaurant. He thought about the way that many restaurants treat pick-ups as an honor system — leaving them out for anyone to take, just like he had left his food in a refrigerator at school. There had to be a better way to do this, he thought. So he made one.

The rest of 2018, Nelson and a software engineer locked themselves in an attic and coded the design for the Yummy Box, which won Station Houston's Demo Day Pitch Competition that December. The next month, Clever Box Co. received its first order and exhibited their technology at Station Houston 3.0. There, they found Station Houston was struggling to develop a way to store parcels — Nelson collaborated with the start-up hub and designed the Happy Box, which sends messages to users when they have a delivery.

"We looked at it as a great opportunity to diversify our offerings," Nelson says.

Recently, Nelson finalized the pilot program for the Yummy Box at SouthernQ BBQ, a decade-old East Texas barbecue joint that has gained attention in the last few years as one of Houston's best spots.

Clever Box Co., too, is getting awards. Last month, Nelson took home one of 26 Houston Business Journal Fast 100 and Innovation Awards. And right now, he's raising $200,000 in revenue and hopes to expand his teams of three to make smarter and more secure locks for all of the boxes. Eventually, he hopes to partner with food delivery companies like Grubhub and Uber Eats for residential spaces. He imagines a Yummy Box in the lobby of his own apartment building — a driver will drop it off, he says, and Nelson will take the elevator down, walk to the locker, and open it up. Inside, he'll find his lunch. No one will have taken it.

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Houston quantum energy chip startup emerges from stealth with $12M round

seed funding

Houston-based Casimir has emerged from stealth with a $12 million seed round to commercialize its quantum energy chip.

The round was led by Austin-based Scout Ventures. Lavrock Ventures, Cottonwood Technology, Capital Factory, American Deep Tech, and Tim Draper of Draper Associates also participated in the round. The oversubscribed round exceeded the company’s original $8 million target, according to a news release.

Casimir’s semiconductor chips can generate power from quantum vacuum fields without the need for batteries or charging. The company plans to commercialize its first-generation MicroSparc chip by 2028.

The MicroSparc chip measures 5 millimeters by 5 millimeters and is designed to produce 1.5 volts at 25 microamps, comparable to a small rechargeable battery, without degradation and no replacement cycle.

“Casimir represents exactly the kind of breakthrough dual-use technology Scout Ventures was built to back,” Brad Harrison, founder and managing partner at Scout Ventures, said in the release. “This is based on 100 years of science and we’re finally approaching a commercial product … We’re proud to lead this round and support Casimir’s journey from applied science to deployed technology.”

Casimir says it aims to scale its technology across the ”full power spectrum,” including large-scale energy systems that can power homes, commercial infrastructures and electric vehicles.

Casimir's scientific work has been supported by DARPA-funded nanofabrication research and its technology was incubated at the Limitless Space Institute (LSI). LSI is a nonprofit that works to innovate interstellar travel and was founded by Kam Ghaffarian. Technology investor and serial entrepreneur Ghaffarian has been behind companies like X-energy, Intuitive Machines, Axiom Space and Quantum Space.

Harold “Sonny” White, founder and CEO of Casimir, believes the technology can power devices for years without replacements.

“Millions of devices will operate for years without a battery ever needing to be replaced or recharged because we have engineered a customized Casimir cavity into hardware capable of producing persistent electrical power,” White added in the release. “I spent nearly two decades at NASA studying how we power humanity’s future. That work led me to the Casimir effect and the quantum vacuum, where new tools have allowed us to build on a century of scientific knowledge and bring abundant power to the world.”

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.