New CEO brings strategic vision to Houston co. advancing neurodegenerative disease treatments

Q&A

Coya Therapeutics appoints a new CEO to lead its innovative Alzheimer's treatment development efforts. Photo via LinkedIn

Coya Therapeutics has named a new CEO. As of Nov. 1, Arun Swaminathan replaced Co-founder Howard Berman in the role. Berman has assumed the title of executive chairman, in which he will still remain active with the company.

Swaminathan started with Coya two years ago as chief business officer. This transition was planned, says the PhD-holding scientist and businessman.

“(Berman's) intent was that it was the right time to put in place a CEO that, as we move into the operational phases of the company, that can take the reins from him,” he tells InnovationMap.

Coya Therapeutics is a publicly traded biotechnology company that is working on two novel treatments for Alzheimer's disease. Coya's therapeutics, which are currently in trials, use regulatory T cells (T regs) to target both systemic- and neuroinflammation in patients.

InnovationMap: Berman has been a very visible CEO. Will you follow suit?

Arun Swaminathan: I think it's part of the CEO’s job to be visible and to communicate the value of our company to all the stakeholders out there. So yes, I do plan to be visible as well. Obviously, Howard as the founder had elements that he talked about, the foundational stories. I obviously will be doing less of that.

IM: What was your journey from the lab to the boardroom?

AS: I have a PhD from the University of Pittsburgh. I like to say that I grew up at Bristol Myers Squibb, so I started in a clinical pharmacology group at BMS, running clinical trials, but in the cardiovascular and metabolic space.

What happened was, as I was the study director on a diabetes trial there, and the data starts coming in for these early diabetic trials, and I got highly involved with the commercial folks at BMS in starting to plan out “What does the target profile look like? How is this going to play out in the real world?” You know, the marketing teams and commercial teams start engaging when clinical data is available, because they're starting to plan for the eventual launch of the product.

That gave me a lot of exposure to the commercial side of things, and I also got a lot of experience presenting to opinion leaders and others through that role. And I said, “What I really love is that intersection between science and business.” And so I think that was my moment.

Then I moved to business development and licensing, where I helped scan the universe for assets and talk to CEOs of companies like Coya as a junior person, trying to understand if there's something that we can bring into BMS to strengthen the pipeline of BMS. So that gave me exposure to deals, how deals are structured, how you negotiate a lot of that kind of stuff.

Then I said, “Look, if I want to be a complete person in biotech, I do need to go into more true commercial roles.” So I went into commercial strategy. I was involved in the commercial strategy for what is now known as Eliquis. Was back then known as apixaban. That’s still the generic name.

Then I led marketing for Orencia, a rheumatoid arthritis drug. So I went and got both strategic and tactical marketing experience at BMS, and then I used all of that experience, rounded up. I eventually ended up co-founding a company, and that's led me to the last nine years with smaller biotech companies. So that's my evolution and path. But I think my true moment of realization was about three years into my clinical role at BMS, when I said, what I really enjoy is translating good science into commercial value, and I think that's what excites me.

IM: Why is Houston an important part of Coya's success?

AS: It is important that Coya stays in Houston, because we have a very close association with Houston Methodist, we get a lot of our work, our early research work still done through Houston Methodist, through Dr. [Stanley] Appel's lab and through other experts. We absolutely have a special research agreement with Houston Methodist, so we have a very strong reason to be in Houston. So, we do not anticipate moving out of Houston.

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This conversation has been edited for brevity and clarity.

Energy Transfer, a Dallas-based midstream energy company, just donated $100,000 to Houston Methodist. Photo via TMC.edu

Energy co. makes $100,000 donation to Houston hospital

curing ALS

Where do energy transition and life-saving medicine meet? In Texas, of course.

Energy Transfer, a Dallas-based midstream energy company, just donated $100,000 to Houston Methodist. The grant is part of a $200,000 gift that has spanned the past two years. The goal? To eradicate the neurological disorder, ALS (amyotrophic lateral sclerosis). There is currently no cure for ALS. For roughly 90 percent of patients, there’s no known genetic cause, meaning the disease can strike anyone.

Houston Methodist currently has numerous clinical trials taking place with the goal to slow or halt the progression of the degenerative ailment.

“Every dollar donated to ALS research is a beacon of hope for those battling the disease,” said Chris Curia, executive vice president and chief human resources officer at Energy Transfer. “Those affected by ALS deserve a chance at a better life. We are hopeful this donation brings us one step closer to a world without this disease.”

Houston Methodist is home to the first multidisciplinary care clinic for ALS patients in the region and is actively engaged in both clinical and basic scientific research to support people battling ALS.

“We appreciate Energy Transfer’s generosity in our efforts to improve the quality of life and to provide hope for ALS patients and their families. Their continued commitment to Houston Methodist’s ongoing ALS research is truly transformational,” says Stanley H. Appel, M.D., a pioneering neurologist at Houston Methodist whose lab focuses on neurodegenerative diseases, including ALS.

Energy Transfer’s gift will help to support one particularly promising trial of a combination therapy that is currently moving into Phase 2. In its first phase, the therapy was found to safely slow disease progression in four ALS patients over a six-month period. Those patients had no significant progression of their disease during the trial. Prior to receiving the therapy, each of the patients had reported declining abilities to perform daily tasks.

Energy Transfer’s good deed could mean the world not only to patients at Houston Methodist, but to ending ALS altogether.

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This article originally ran on EnergyCapital.

The new center is specifically designed to allow patients to be on the cutting edge of testing brand-new therapies that could save their lives.

Houston cancer-fighting organization launches center to support early clinical trials

new to hou

Cancer treatment in Houston just became even more promising — and forward-thinking.

Phase 1 clinical trials are necessary to prove the efficacy in humans of treatments that have appeared promising in lab trials. In the name of cancer-fighting innovation, Baylor College of Medicine’s Dan L. Duncan Comprehensive Cancer Center has launched the Albert and Margaret Alkek Foundation Center for Experimental Therapeutics.

The new center is specifically designed to allow patients to be on the cutting edge of testing brand-new therapies that could save their lives.

“Clinical trials are critical for advancing the field of oncology and improving outcomes for cancer patients. Phase 1 trials are the first step in bringing innovative therapies to the clinic,” says Dr. Benjamin Musher, Barry S. Smith endowed professor at Baylor and medical director of medical oncology at the Duncan Cancer Center McNair Campus, in a news release. “Our new program will build on the success of previous phase 1 trials at Baylor and provide robust infrastructure to offer more clinical trial opportunities to our patients.”

The Alkek Foundation Center’s team practices across all specialty areas, allowing a broad swath of the Cancer Center’s patients to take part and to continue to receive care from the sub-specialty doctors they know and trust. And even if they aren’t already being treated at Baylor, physicians from outside Baylor can refer patients to the program through a smooth process.

“We are excited to offer novel research treatment options to our cancer patients at our state-of-the-art unit,” says Dr. Pavan Reddy, director of the Dan L Duncan Comprehensive Cancer Center and senior associate dean of cancer programs at Baylor. “This program will increase the scope of our research while giving the cancer patients in our community access to first in human and cutting-edge clinical trials.”

Patients will be treated at Duncan Cancer Center’s clinical home, Baylor St. Luke’s Medical Center’s O’Quinn Medical Tower at the McNair Campus. As interim dean of research and dean of the Graduate School of Biomedical Sciences at Baylor, Carolyn Smith says, with the new center, Baylor is “advancing medicine by taking innovations made in the lab and moving them to the bedside.”

The debut trial to take place at the center enrolled its first patient this month. It will test a novel therapy that targets a mutation commonly found in pancreatic and colorectal cancers.

“Phase 1 oncology clinical trials provide patients early access to cutting-edge therapeutics and immunotherapies that are not widely available. Patients in these trials are often selected because their tumors have a molecular feature that is targeted by these therapies,” says Dr. S. Gail Eckhardt, who is Baylor’s Albert and Margaret Alkek endowed chair and serves as associate dean for experimental therapeutics at Baylor and associate director of translational research at the Duncan Cancer Center.

What started as a way to bring natural cleaning products in from overseas has turned into a promising application for more sustainable agriculture solutions. Photo via Pexels

Houston entrepreneur brings natural, sustainable cleaning products to US for farm to table application

clean dream

When something is declared clean, one question invariably springs to mind: just how clean is clean?

Then it is, “What metrics decide what’s clean and what’s not?”

To answer those questions, one must abandon the subjective and delve into the scientific — and that’s where Clean Habits come in. The company has science on its side with Synbio, a patented cleaning formula that combines a unique blend of prebiotics and probiotics for their signature five-day clean.

“Actually, we are a synbiotic, which is a prebiotic and a probiotic fused together,” says Kristy Phillips, founder and CEO of Clean Habits. “And that's what gives us the five-day clean, and we also have the longest shelf life — three years — of any probiotic on the market.”

Phillips learned about the European product almost three months before the COVID-19 pandemic. She had heard of probiotics for gut health but had no idea about probiotic cleaning.

“When COVID actually hit, I went back and really started researching the manufacturer who is based in Europe and all of their pre- and probiotic cleaners,” remembers Phillips. “And I just found it to be so interesting that they were using natural probiotics from the dirt, from the soil, from Mother Earth. And they created this entire product line that they have been using for over 15 years. And they had so many clinical trials and hospital studies and university studies that were showing that these probiotic cleaners were working, and they were reducing bacteria, viruses, even viruses in air.

“Not only were they in the cleaning spray sector, but they were also already in water purification. They were in agriculture for animal house farming. They were doing a big trial in the subway station in Milan, putting the probiotics through a big HVAC system. And I just thought, there must be something here.”

Kristy Phillips is the founder and CEO of Clean Habits. Photo via LinkedIn

Phillips was right. After reaching out to the manufacturer, she asked if they had a distributor here in the United States. They didn't.

“Since they didn’t have a distributor here in the U.S., I got the products and tried them out for myself,” says Phillips. “They were chemical-free, non-toxic and eco-friendly and after comparing them side-by-side with the commercial cleaners we all grew up with like the Lysols, bleach, and 409s, I found that the probiotic cleaners not only worked on surface areas to remove bad bacteria and germs, they continued to work for up to five full days at 100 percent.

“The commercial cleaners did kill 99.99 percent of all bacteria and germs, but they only did it for 30 minutes. And then the bacteria and germs start to grow back. And I am like, you know, nobody tells you that in their marketing. So that is what started my journey on the probiotics and creating a line to bring to the market here in the United States.”

Phillips soon realized that her goal was easier said than done.

“I think the U.S. market is one of the hardest to break into,” says the Houston native. “Trying to launch a brand-new product in the United States, in the cleaning sector, you do have to deal with the FDA and the EPA, there is a big game that you must play. And then you do go up against the big boys, like the Johnson and Johnson's of the world. Everybody is so used to chemical cleaning. And to go and try to change that industry and disrupt it, that can be tough for people.

“And at the time, I felt like it was insane because everyone was living in their house due to COVID and continuing to use commercial cleaners that are backed with chemicals. They were all breathing that in. I felt that was doing us all an injustice, especially when you have these probiotics that are natural, non-toxic, non-chemical and safe to breathe. It does change the game.”

Once Phillips noticed that she was not alone, with companies like Jessica Alba’s The Honest Company and Mrs. Meyer’s with their plant-based cleaning products, she forged full speed ahead with Clean Habits.

Now, more than three years later, her company is making a significant impact.

“I said, OK, I’m not crazy here, I must be on the right path,” says Phillips. “With people starting to recognize that there is a better way to clean, we began to get into retailers like Kroger. Right now, we are in the process of on-boarding with Walmart and are in talks with CVS, Whole Foods, and Costco.”

The biggest signal to Phillips that the word was out on Clean Habits came in the form of a potential celebrity endorsement.

“Howie Mandel, who is a certified germaphobe, reached out to us a couple of weeks ago,” says Phillips, who before her mission to clean up the world, was a producer of reality television. “We are about to do a big campaign with him and the Clean Habits line. People know Howie Mandel. So, he is definitely going to bring more awareness to our brand, which will allow us to start a big, heavy push and hopefully we can just capitalize on it and go from there.”

Moving forward, Phillips’ vision for Clean Habits will extend beyond just traditional cleaning products. She sees that she can also have an impact on the industrial and commercial side of things.

“Right now, we are doing testing in agriculture, and this is something that our manufacturers in Europe have already done and they have been extremely successful with it,” says Phillips. “The goal is to see if we could reduce the use of pesticides in farming and replace it with just misting and spraying with the probiotics.

“We already know that by incorporating the probiotics throughout water systems, that we can actually clean the water and take it back to 100 percent natural water or pure water. We can get rid of E. coli, MRSA, staph. And so, we are going to start working with the state of Texas and into animal house cleaning and farming and cleaning their water.”

Additionally, Clean Habits already has research that proves that by incorporating the probiotics, they can start eliminating the bird flu, which affected a lot of Texas chickens recently to where over 350,000 of them had to be put down.

“We’re really trying to change the faith there in agriculture,” says Phillips. “I mean, to me, it's amazing because when I first started this, I was just trying to launch some cleaning supplies, which is fantastic, but this product is so much more than a multi-purpose cleaning spray, your floor cleaner, your drain cleaner or your laundry detergent. This goes into cleaning water, which is everyone's basic right to have clean water. And the fact that we can do it by using these probiotics, to me, my little brain can't compute that part of it.

“And then when we really did start looking into the agriculture and how, by incorporating the probiotics into the animal house, the cleaning of the water, and putting it into their housing system, that we can reduce methane gas by 41 percent. That is huge. This can profoundly change and revolutionize industries. And to be a part of that, and I am so excited.”

BrainLM is now well-trained enough to use to fine-tune a specific task and to ask questions in other studies. Photo via Getty Images

Houston researchers create AI model to tap into how brain activity relates to illness

brainiac

Houston researchers are part of a team that has created an AI model intended to understand how brain activity relates to behavior and illness.

Scientists from Baylor College of Medicine worked with peers from Yale University, University of Southern California and Idaho State University to make Brain Language Model, or BrainLM. Their research was published as a conference paper at ICLR 2024, a meeting of some of deep learning’s greatest minds.

“For a long time we’ve known that brain activity is related to a person’s behavior and to a lot of illnesses like seizures or Parkinson’s,” Dr. Chadi Abdallah, associate professor in the Menninger Department of Psychiatry and Behavioral Sciences at Baylor and co-corresponding author of the paper, says in a press release. “Functional brain imaging or functional MRIs allow us to look at brain activity throughout the brain, but we previously couldn’t fully capture the dynamic of these activities in time and space using traditional data analytical tools.

"More recently, people started using machine learning to capture the brain complexity and how it relates it to specific illnesses, but that turned out to require enrolling and fully examining thousands of patients with a particular behavior or illness, a very expensive process,” Abdallah continues.

Using 80,000 brain scans, the team was able to train their model to figure out how brain activities related to one another. Over time, this created the BrainLM brain activity foundational model. BrainLM is now well-trained enough to use to fine-tune a specific task and to ask questions in other studies.

Abdallah said that using BrainLM will cut costs significantly for scientists developing treatments for brain disorders. In clinical trials, it can cost “hundreds of millions of dollars,” he said, to enroll numerous patients and treat them over a significant time period. By using BrainLM, researchers can enroll half the subjects because the AI can select the individuals most likely to benefit.

The team found that BrainLM performed successfully in many different samples. That included predicting depression, anxiety and PTSD severity better than other machine learning tools that do not use generative AI.

“We found that BrainLM is performing very well. It is predicting brain activity in a new sample that was hidden from it during the training as well as doing well with data from new scanners and new population,” Abdallah says. “These impressive results were achieved with scans from 40,000 subjects. We are now working on considerably increasing the training dataset. The stronger the model we can build, the more we can do to assist with patient care, such as developing new treatment for mental illnesses or guiding neurosurgery for seizures or DBS.”

For those suffering from neurological and mental health disorders, BrainLM could be a key to unlocking treatments that will make a life-changing difference.

At Rezvani Lab in MD Anderson Cancer Center, scientists train immune cells to fight cancer. Photo via Getty Images

Unique cell therapy developed in Houston doses inaugural patient

cancer-fighting innovation

Replay, a genome-writing company headquartered in San Diego, has announced that its first patient has been dosed with an engineered T-Cell Receptor Natural Killer (TCR-NK) cell therapy for relapsed or refractory multiple myeloma.

What does that have to do with Houston? Last year, Replay incorporated a first-in-class engineered TCR-NK cell therapy product company, Syena, using technology developed by Dr. Katy Rezvani at The University of Texas MD Anderson Cancer Center.

Rezvani, a professor of stem cell transplantation and cellular therapy, is the force behind MD Anderson’s Rezvani Lab, a group of 55 people, all focused on harnessing natural killer cells to combat cancer.

“Everybody thinks that the immune system is fighting viruses and infections, but I feel our immune system is capable of recognizing and killing abnormal cells or cells that are becoming cancerous and they're very powerful. This whole field of immunotherapy really refers to the power of the immune system,” Rezvani tells InnovationMap.

Dr. Katy Rezvani is a professor of stem cell transplantation and cellular therapy and the force behind MD Anderson’s Rezvani Lab, which is focused on harnessing natural killer cells to combat cancer. Photo via mdanderson.org

At Rezvani Lab, scientists train immune cells to fight cancer. While cancer drugs like chemotherapy are still the norm, immunotherapy has gained ground, led by Houston research, including the work of Nobel laureate Jim Allison. The harnessed cells are taught to attack cancerous cells, while ignoring healthy ones, says Rezvani. “We’re turning them into heat-seeking missiles,” she explains.

However, there must be a beacon to signal to those “missiles” that there is something to attack. Much of the field has used chimeric antigen receptors (CARs) to achieve that. But they have limitations.

“CARs can only recognize beacons that sit on the surface of the tumor cells,” Rezvani says. “So basically, it's like the tumor cell has to have a hat on it.”

She says that this usually means that the targets that send off a signal are relatively limited, mostly blood cancers. Using T cell receptors (TCRs) may be able to open up the field to look beyond the “hat.” In other words, TCRs can peer inside cells and see what differentiates a tumor cell from healthy cells. With Replay, Rezvani Lab has developed a first-in-class and first-in-human approach of engineering natural killer cells to express the TCR.

There are six different FDA-approved products that use CAR-T cells, but Rezvani says that her TCR-NK-based technology, though still in its early phases, shows great promise.

“We could use it to target many different types of antigens, many different types of cancers, especially solid tumors," she explains. "These cell therapies have a lot of potential — we call them living drugs… It's not like chemotherapy where you have to keep giving different multiple cycles, these cells are very long lived.”

Rezvani, who started her career in London, says that Houston has been instrumental in the success of her lab.

“There are so many opportunities because we have access to some of the most brilliant minds in research,” Rezvani says. “We have some of the best clinicians in the world. We have patients who come to us who are willing to participate in our clinical trials — really put their trust in us — and are committed and want to participate in these clinical studies.”

The role of funding also plays a part. As Rezvani admitted, bringing a new technology to the market is expensive. The philanthropists who help support trials can’t be forgotten among Houston’s finest.

Whether or not Syena produces the first TCR-NK product on the market, Rezvani is enthusiastic and hopeful for the future of her patients.

“The field of immunotherapy is really expanding, the field of cell therapies is expanding, and there is so much promise,” she says. “The promise of AI, big data, all the engineering tools that we have available, the promise of CRISPR — all of that is going to bring what we've learned from biology, from basic science, together to help us make the cell therapies that are going to be safe and and also very effective for our patients.”

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Houston space tech companies land $25 million from Texas commission

Out Of This World

Two Houston aerospace companies have collectively received $25 million in grants from the Texas Space Commission.

Starlab Space picked up a $15 million grant, and Intuitive Machines gained a $10 million grant, according to a Space Commission news release.

Starlab Space says the money will help it develop the Systems Integration Lab in Webster, which will feature two components — the main lab and a software verification facility. The integration lab will aid creation of Starlab’s commercial space station.

“To ensure the success of our future space missions, we are starting with state-of-the-art testing facilities that will include the closest approximation to the flight environment as possible and allow us to verify requirements and validate the design of the Starlab space station,” Starlab CEO Tim Kopra said in a news release.

Starlab’s grant comes on top of a $217.5 million award from NASA to help eventually transition activity from the soon-to-be-retired International Space Station to new commercial destinations.

Intuitive Machines is a space exploration, infrastructure and services company. Among its projects are a lunar lander designed to land on the moon and a lunar rover designed for astronauts to travel on the moon’s surface.

The grants come from the Space Commission’s Space Exploration and Aeronautics Research Fund, which recently awarded $47.7 million to Texas companies.

Other recipients were:

  • Cedar Park-based Firefly Aerospace, which received $8.2 million
  • Brownsville-based Space Exploration Technologies (SpaceX), which received $7.5 million
  • Van Horn-based Blue Origin, which received $7 million

Gwen Griffin, chair of the commission, says the grants “will support Texas companies as we grow commercial, military, and civil aerospace activity across the state.”

State lawmakers established the commission in 2023, along with the Texas Aerospace Research & Space Economy Consortium, to bolster the state’s space industry.

Houston experts: Can AI bridge the gap between tech ambitions and market realities?

guest column

Despite successful IPOs from the likes of Ibotta, Reddit and OneStream, 2024 hasn’t provided the influx of capital-raising opportunities that many late-stage tech startups and venture capitalists (VCs) have been waiting for. Since highs last seen in 2021—when 90 tech companies went public—the IPO market has been effectively frozen, with just five tech IPOs between January and September 2024.

As a result, limited partners have not been able to replenish investments and redeploy capital. This shifting investment landscape has VCs and tech leaders feeling stuck in a holding pattern. Tech leaders are hesitant to enter the public markets because valuations are down 30 percent to 40 percent from 2021, which is also making late-stage fundraising more challenging. After all, longer IPO timelines mean fewer exit opportunities for VCs and reduced capital from institutional investors who are turning toward shorter-term investments with more liquid exit options.

Of course, there’s always an exception. And in the case of a slowed IPO market, a select slice of tech companies—AI-related companies—are far outperforming others. While not every tech startup has AI software or infrastructure as their core offering, most can benefit from using AI to revise their playbook and become more attractive to investors.

Unlocking Growth Potential with AI

While overall tech startup investment has slowed, the AI sector burns bright. This presents an opportunity for companies that strategically leverage AI, not just as a buzzword but as a tool for genuine growth and differentiation. Imagine a future where AI-powered insights unlock unprecedented efficiency, customer engagement and a paradigm shift in value creation. This isn’t just about weathering the current storm of reduced access to capital; it’s about emerging stronger, ready to lead the next wave of tech innovation.

Here's how to navigate the AI frontier and unlock its potential:

  1. Understand that data is the foundation of AI success. AI is powerful, but it’s not magic. It thrives on high-quality, interconnected data. Before diving into AI initiatives, companies must assess their data health. Is it structured in a way that AI can understand? Does it go beyond raw numbers to capture context and meaning—like customer sentiment alongside sales figures? Rethinking data infrastructure is often the crucial first step.
  1. Focus on amplifying strengths, not reinventing the wheel. The allure of AI can tempt companies into pursuing radical reinvention. However, a more effective strategy is to leverage AI to enhance existing strengths and address core customer needs. Why do customers choose your company? How can AI supercharge your value proposition? Consider Reddit’s strategic approach: They didn’t overhaul their platform before their 2024 IPO. Instead, they showcased the value of their vast online communities as fertile ground for AI development, leading to a remarkable first-day stock surge of 48 percent.

  2. Use AI as a customer-centric force multiplier. Companies with a deep understanding of their customer base are primed for AI success. By integrating AI into the very core of their product or service—the reason customers choose them—they can create a decisive competitive advantage based on delivering tangible customer value.

From Incremental Gains to Transformative Growth

This practical, customer-centric approach has the potential to help companies generate immediate growth while laying the foundation for future reinvention. By leveraging AI to optimize operations, deepen customer relationships, and redefine industry paradigms, late-state tech startups can not only survive but thrive in a dynamic market. The future belongs to those who embrace AI not as a destination but as a continuous journey of innovation and growth.

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Hong Ogle is the president of Bank of America Houston. Rodrigo Ortiz Gomez is a market executive in Bank of America’s Transformative Technology Banking Group as well as the national software banking lead for the Global Commercial Bank.

Houston joint venture secures $5.2M for AI-powered methane tracking tech

Fresh Funds

Houston-based Envana Software Solutions has received more than $5.2 million in federal and non-federal funding to support the development of technology for the oil and gas sector to monitor and reduce methane emissions.

Thanks to the work backed by the new funding, Envana says its suite of emissions management software will become the industry's first technology to allow an oil and gas company to obtain a full inventory of greenhouse gases.

The funding comes from a more than $4.2 million grant from the U.S. Department of Energy (DOE) and more than $1 million in non-federal funding.

“Methane is many times more potent than carbon dioxide and is responsible for approximately one-third of the warming from greenhouse gases occurring today,” Brad Crabtree, assistant secretary at DOE, said in 2024.

With the funding, Envana will expand artificial intelligence (AI) and physics-based models to help detect and track methane emissions at oil and gas facilities.

“We’re excited to strengthen our position as a leader in emissions and carbon management by integrating critical scientific and operational capabilities. These advancements will empower operators to achieve their methane mitigation targets, fulfill their sustainability objectives, and uphold their ESG commitments with greater efficiency and impact,” says Nagaraj Srinivasan, co-lead director of Envana.

In conjunction with this newly funded project, Envana will team up with universities and industry associations in Texas to:

  • Advance work on the mitigation of methane emissions
  • Set up internship programs
  • Boost workforce development
  • Promote environmental causes

Envana, a software-as-a-service (SaaS) startup, provides emissions management technology to forecast, track, measure and report industrial data for greenhouse gas emissions.

Founded in 2023, Envana is a joint venture between Houston-based Halliburton, a provider of products and services for the energy industry, and New York City-based Siguler Guff, a private equity firm. Siguler Gulf maintains an office in Houston.

“Envana provides breakthrough SaaS emissions management solutions and is the latest example of how innovation adds to sustainability in the oil and gas industry,” Rami Yassine, a senior vice president at Halliburton, said when the joint venture was announced.

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

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