Amplifying startup success is key for the energy transition, Houston experts say

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The future energy system will be made up of countless new technologies that are actively being developed and scaled by climate and energy startups around the world. Photo via Getty Images

The global energy landscape is undergoing unprecedented challenges, influenced by post-pandemic work trends, geopolitical events like the Ukraine crisis, and the urgent need to reduce carbon emissions.

To achieve net-zero goals by 2050 and address climate change, a significant investment of $5 trillion by 2030 to USD $4.5 trillion by 2050 is required, necessitating a rapid transformation in traditional energy production, distribution, storage, and consumption methods.

High-tech energy and climate startups are pivotal for a robust economy, driving innovation, economic growth, and enhanced productivity. These startups foster healthy competition, attract crucial investments, and contribute significantly to job creation, outpacing larger companies in terms of employment generation. The U.S., a startup leader, generated over 3.7 million new jobs in 2022, showcasing the adaptability of startups to market trends. Globally, India, with the third-largest startup ecosystem, has contributed to the creation of860,000 jobs since the stand-up of Startup India, emphasizing the importance of nurturing startups for sustained economic dynamism and innovation.

The future energy system will be made up of countless new technologies that are actively being developed and scaled by climate and energy startups around the world. These founding teams require access to scaling resources to accelerate and amplify their impact. Human talent, financial investment, demonstration opportunities and physical facilities are scaling resources that often require significant time and capital to build from scratch. This inefficient resource deployment can be particularly pronounced for hard-tech entrepreneurs. Startup community participants are organized around providing entrepreneurs with the needed access to these resources.

"Our mission is to enable hydrogen adoption by solving the key challenges in hydrogen storage and transportation," says Ayrton CEO, Natasha Kostenuk. "With Halliburton's strategic engineering and manufacturing support, we can scale our technology, execute pilot demonstrations and accelerate towards commercialization."

Halliburton Labs, is highlighted for its diverse team and the support it provides to global entrepreneurs in sustainable ventures. The future energy system is envisioned to be composed of numerous new technologies developed and scaled by climate and energy startups worldwide. These startups require access to scaling resources mentioned above, where Halliburton Labs serves as a conduit between established practitioners and startup entrepreneurs, accelerating the latter's impact by providing access to these critical resources.

Infosys launched the Infosys Innovation Fund to invest in entrepreneurial ventures around the world. Their investment philosophy is geared toward supporting innovation and purposeful solutions that are relevant to the strategic priorities of their clients. This differentiates the Infosys Innovation Fund from most other venture capital institutions, in that they have a strong motivation to create long term value for the end users of the technology and to the companies building these solutions.

Infosys actively collaborates with emerging technology startups through its Infosys Innovation Fund. Employing a Desirability, Feasibility, Viability (DFV) framework, Infosys strategically selects startups and offers advantages such as market, financial and technical scale. The Infosys Innovation Fund stands out for its motivation to create long-term value for end users and the companies building innovative solutions. Infosys also operates an incubation center called ‘Infosys Center for Emerging Technology Solutions’ (iCETS), focusing on NextGen services and offerings through collaboration with clients, startup partnerships, university collaborations, and more.

Startups working with Infosys benefit from accessing the company's know-how, market knowledge, and strategic advisors from the consulting arm of business, Infosys Consulting, who are focused on creating business value through technology innovation. The combined expertise guides entrepreneurs from idea to qualification, proof-of-concept, prototype, minimum viable product (MVP), scale, and continuous discovery and delivery.

Open innovation and trusted partnerships in the energy transition era

In the energy transition era, open innovation and trusted partnerships are becoming essential components of amplifying success for startups. Collaborative cultures and trusted partnerships with companies like Infosys and Halliburton Labs are crucial for supporting and scaling startups in this rapidly evolving energy landscape. This shift towards ‘open innovation’ reflects a broader trend in the industry toward collaboration and shared expertise as key drivers for success to accelerate and achieve global energy transition aspirations.

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Scott Gale is the executive director of Halliburton Labs. Jason Till is partner of Experience Transformation & Innovation at Infosys Consulting. Rima Thakkar is principal - Americas Energy Transition at Infosys Consulting. Laura Sacchi, Mandar Joshi, and Sonali Sakhare of Infosys Consulting contributed to this article.

This article originally ran on EnergyCapital.

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Houston space co. secures $4.8B NASA contract to provide communications, navigation services

near space exploration

Houston-based space exploration, infrastructure, and services company Intuitive Machines has snagged a deal with NASA that could be worth more than $4 billion.

Under the contract, Intuitive Machines (Nasdaq: LUNR, LUNRW) will supply communication and navigation services for missions in the “near space” region, which extends from the earth’s surface to beyond the moon.

The five-year deal includes an option to add five years to the contract. In total, the contract could be worth $4.82 billion. The initial round of NASA funding runs from October 2024 through September 2029.

“This contract marks an inflection point in Intuitive Machines’ leadership in space communications and navigation,” Steve Altemus, CEO of Intuitive Machines, says in a news release.

Under the deal, the company will deploy lunar relay satellites and provide communication and navigation services that play a role in NASA’s Artemis campaign to establish a long-term presence on the moon.

A highlight of the contract is the debut of Intuitive Machines’ lunar satellite constellation, a service that the company “believes is a strategic element in its vision to commercialize lunar activities.” The constellation will deliver data and transmission services and enable autonomous operations.

Earlier this month, Intuitive Machines secured its fourth contract with NASA’s Commercial Lunar Payload Services, or CLPS, program. The $116.9 million agreement will task Intuitive Machines with delivering six science and technology payloads, which will include one European Space Agency-led drill suite to the Moon’s South Pole.

Additionally in August, Intuitive Machines signed a deal with Houston-based launch services company SEOPS to offer lunar rideshare services. Under the deal, Intuitive Machines will enable SEOPS to deliver customers' payloads to the surface of the moon, as well as to Lagrange points and geostationary transfer orbits.

Chevron names inaugural cohort of Houston energy innovators

research ready

Anew program from Rice University and Chevron has named its inaugural cohort.

Funded by Chevron, the Chevron Energy Graduate Fellowship will provide $10,000 each to 10 Rice graduate students for the current academic year, which supports research in energy-related fields.

The Rice Sustainability Institute (RSI) hosted the event to introduce the inaugural cohort of the Rice Chevron Energy Graduate Fellowship at the Ralph S. O’Connor Building for Engineering and Science. Director of the RSI and the W. Maurice Ewing Professor in Earth, Environmental and Planetary Sciences, Carrie Masiello presented each fellow with a certificate during the ceremony.

“This fellowship supports students working on a wide range of topics related to scalable innovations in energy production that will lead to the reduction of carbon dioxide emissions,” Masiello says in a news release. “It’s important that we recognize the importance of intellectual diversity to the kind of problem-solving we have to do as we accomplish the energy transition.”

The work of the students focuses on creating "real-world, scalable solutions to transform the energy landscape,” per the Rice release. Recipients of the fellowship will research solutions to energy challenges that include producing eco-friendly hydrogen alternatives to fossil fuels and recycling lithium-ion batteries.

Some of the fellows' work will focus on renewable fuels and carbon-capture technologies, biological systems to sequester carbon dioxide, and the potential of soil organic carbon sequestration on agricultural land if we remove the additionality constraint. Xi Chen, a doctoral student in materials science and nanoengineering, will use microwave-assisted techniques to recycle lithium-ion batteries sustainably.

Rice President Reginald DesRoches began the event by stressing the importance of collaboration. Ramamoorthy Ramesh, executive vice president for research at Rice, echoed that statement appearing via Zoom to applaud the efforts of doing what is right for the planet and having a partner in Chevron.

“I’m excited to support emerging leaders like you all in this room, who are focused on scalable, innovative solutions because the world needs them,” Chris Powers, vice president of carbon capture, utilization and storage and emerging at Chevron New Energies and a Rice alum, says at the event. “Innovation and collaboration across sectors and borders will be key to unlocking the full potential of lower carbon energies, and it’s groups like you, our newest Chevron Fellows, that can help move the needle when it comes to translating, or evolving, the energy landscape for the future.”

To see a full list of fellows, click here.

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This article originally ran on EnergyCapital.

New AI program powered by Mark Cuban opens applications for Houston students

eyes on ai

The Mark Cuban Foundation is partnering with digital consultant company Perficient’s Houston office to bring a one-of-its-kind, free artificial intelligence camp to high school students in Houston.

Applications, which are open now online, will close September 30.

“With the proliferation of AI, it’s more important than ever to increase AI education – especially among today’s youth,” Bill Davis, senior vice president at Perficient, says in a news release.

The curriculum will focus on the latest developments in the world of AI and Generative AI. The camp — held at Perficient’s Houston office on November 2, 9 and 16 — will provide students with necessary tools and technologies to help inspire a new generation of AI users and professionals. The camp aims to help underserved high school students with a focus on recruiting students of color, first generation college students, girls, and those from lower to moderate income households.

“As AI continues to become an undeniable force in all of our lives, it’s crucial that we open the door to this knowledge, especially to young people who want to explore it,” Cuban says in the release. “While technology expands and becomes more advanced, it becomes more critical that we ensure our students are prepared when they apply for schools or jobs in the future. Thanks to our work with Perficient, the bootcamp will offer an avenue to explore this fascinating field of technology to any student, no matter their means.”

Students can select from six tracks in the course that include healthcare, arts and entertainment, business and entrepreneurship, computer science, sports science, or education and career readiness. The AI Bootcamps are introductory and accessible to students in ninth through 12th grade with an interest in technology without any prior computer science experience. Transportation, resources and food will be provided.

As classes like STEM increase in popularity more programs have been created to help increase interest. More than 233,000 high school students in Texas took Career and Technical Education courses focused on STEM from 2020-2021.

“We’re proud to partner with the Mark Cuban Foundation to educate the next generation of technology leaders, mentoring students in AI, and ensuring the future of STEM,” Davis said in a news release.

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