Hardtech fellowship names 11 innovators to inaugural Houston cohort

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The inaugural Activate Houston cohort has 11 fellows across energy, materials, life sciences, space, and other sectors. Photo via activate.org

A national hardtech-focused organization has named its 2024 batch of innovators, which includes the inaugural Houston-based cohort.

Activate named 62 fellows and 50 companies for is latest class, which spans Berkley, California — where the organization is based, Boston, New York, and Houston. Additionally, Activate Anywhere, the program's virtual and remote cohort, was named. According to Activate, it received over 1,000 applicants.

“People, not ideas alone, move the world forward. It is through the drive and determination of brilliant scientists and engineers that we are witnessing true progress,” says Activate CEO Cyrus Wadia in a news release. “Our current Activate Fellows and alumni are already pioneering innovative solutions that make a measurable difference. We’re thrilled to support the next 62 visionaries who will lead the charge in addressing our most urgent issues through groundbreaking science and technology.”

It's the first year Activate has hosted a Houston-based cohort. The organization initially announced its expansion early last year. The inaugural cohort has 11 fellows across energy, materials, life sciences, space, and other sectors.

The named Houston fellows selected for the 2024 class include:

  • Krish Mehta, founder and CEO of Phoenix Materials, a company that decarbonizes concrete using industrial waste.
  • Gabriel Cossio, founder and CEO of Nanoscale Labs, which is developing a high-throughput and low-cost nanomanufacturing system.
  • Matthew McDermott, founder and CEO of Refound Materials, a materials technology company developing more efficient synthesis recipes for accelerated materials discovery.
  • Alec Ajnsztajn, founder and CEO of Coflux Purification, a company that's creating a product that allows industries and water providers to cheaply remove forever chemicals to provide safe drinking water at a fraction of current energy use.
  • Ryan DuChanois and Yang Xia , co-founders of Solidec, a Houston-based startup redefining chemical manufacturing.
  • Meagan Pitcher, co-founder and CEO of Bairitone Health, which brings advanced imaging diagnostics into the home environment.
  • Wei Meng, co-founder and CEO of LumiStrain, a startup offering novel technology for mechanical strain mapping.
  • Sonia Dagan of Atolla Tech, which is developing a lidar and machine-learning algorithm for identifying and quantifying airborne insects.
  • Rodrigo Alvarez-Icaza, founder and CEO of Elysium Robotics, a company that's replacing electric motors with muscle-like actuators to enable massive deployment of highly capable and low-cost robotic systems.
  • Blake Herren, CEO and Co-founder of Raven Space Systems, which is modernizing composite manufacturing with 3D printing and Industry 4.0 solutions to build the factories of the future.

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This article originally ran on EnergyCapital.

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Activate announced Cyrus Wadia as its new CEO and opened its 2024 applications. Photo courtesy of Activate

New-to-Houston hardtech accelerator names new CEO, opens applications

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A national organization that helps accelerate scientists into entrepreneurs has named its new CEO in the same week that applications opened for its 2024 cohort.

This week, Activate announced Cyrus Wadia as CEO of the organization. Based California, Activate recently expanded to Houston. The two-year accelerator provides funding and support for its selected cohorts.

Wadia most recently served as director of worldwide product sustainability at Amazon. He also oversaw sustainable business and innovation at Nike and was appointed assistant director of clean energy and materials R&D at the White House Office of Science and Technology Policy under President Barack Obama.

"I’m thrilled to join this incredible team at such an exciting moment for the organization. Because of Activate, scientists are designing new products, accelerating the creation of new businesses, and becoming leaders who will transform our future," Wadia says in the news release. "I look forward to building on this momentum to expand the role science leadership plays in solving society’s most pressing issues.”

Wadia’s new role takes effect on October 16. Todd Johnson has served as interim CEO for the past year, and he will return to his role on Activate’s board of directors with the transition. The program's led locally by Jeremy Pitts, managing director for Activate Houston, who was named to the role last month.

The announcement came just a few days before Activate opened applications for its 2024 program — which will be the first year to have a Houston cohort. Applications are open until October 17 across Activate's five programs. The two-year, hardtech-focused program was founded in Berkeley, California, in 2015 and expanded to Boston and New York before launching its virtual program, Activate Anywhere.

“Activate’s recruitment process is crucial, as it centers around finding scientists directly interested in solving urgent problems,” Pitts says. “Activate fellows are turning their technical breakthroughs into businesses that can help industries like manufacturing, energy, chemicals, computing, and agriculture, to meet their decarbonization and resiliency goals.”

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A version of this article originally ran on EnergyCapitalHTX.

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Houston geothermal unicorn Fervo officially files for IPO

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Fervo Energy has officially filed for IPO.

The Houston-based geothermal unicorn filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission on April 17 to list its Class A common stock on the Nasdaq exchange. Fervo intends to be listed under the ticker symbol "FRVO."

The number and price of the shares have not yet been determined, according to a news release from Fervo. J.P. Morgan, BofA Securities, RBC Capital Markets and Barclays are leading the offering.

The highly anticipated filing comes as Fervo readies its flagship Cape Station geothermal project to deliver its first power later this year

"Today, miles-long lines for gasoline have been replaced by lines for electricity. Tech companies compete for megawatts to claim AI market share. Manufacturers jockey for power to strengthen American industry. Utilities demand clean, firm electricity to stabilize the grid," Fervo CEO Tim Latimer shared in the filing. "Fervo is prepared to serve all of these customers. Not with complex, idiosyncratic projects but with a simplified, standardized product capable of delivering around-the-clock, carbon-free power using proven oil and gas technology."

Fervo has been preparing to file for IPO for months. Axios Pro first reported that the company "quietly" filed for an IPO in January and estimated it would be valued between $2 billion and $3 billion.

Fervo also closed $421 million in non-recourse debt financing for the first phase of Cape Station last month and raised a $462 million Series E in December. The company also announced the addition of four heavyweights to its board of directors last week, including Meg Whitman, former CEO of eBay, Hewlett-Packard, and Spring-based HPE.

Fervo reported a net loss of $70.5 million for the 2025 fiscal year in the S-1 filing and a loss of $41.1 million in 2024.

Tracxn.com estimates that Fervo has raised $1.12 billion over 12 funding rounds. The company was founded in 2017 by Latimer and CTO Jack Norbeck.

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

New UT Austin med center, anchored by MD Anderson, gets $1 billion gift

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A donation announced Tuesday, April 21, breaks a major record at the University of Texas at Austin. Michael and Susan Dell are now UT Austin's first supporters to give $1 billion. In response, the university will create the UT Dell Campus for Advanced Research and the UT Dell Medical Center to "advance human health," per a press release.

The release also records "significant support" for undergraduate scholarships, student housing, and the Texas Advanced Computing Center for supercomputing research.

Both the new research campus and the UT Dell Medical Center will integrate advanced computing into their research and practices. At the medical center, the university hopes that will lead to "earlier detection, more precise and personalized care, and better health outcomes." The University of Texas MD Anderson Cancer Center will also be integrated into the new medical center.

That comes with a numeric goal measured in 10s: raise $10 billion and rank among the top 10 medical centers in the U.S., both in the next decade.

In the shorter term, the university will break ground on the medical center with architecture firm Skidmore, Owings & Merrill (SOM) "later this year."

“UT Austin, where Dell Technologies was founded from a dorm room, has always been a place where bold ideas become real-world impact,” said Michael and Susan Dell in a joint statement.

They continued, “What makes this moment so meaningful is the opportunity to build something that brings every part of the journey together — from how students learn, to how discoveries are made, to how care reaches families. By bringing together medicine, science and computing in one campus designed for the AI era, UT can create more opportunity, deliver better outcomes, and build a stronger future for communities across Texas and beyond.”

This is the second major gift this year for the planned multibillion-dollar medical center. In January, Tench Coxe, a former venture capitalist who’s a major shareholder in chipmaking giant Nvidia, and Simone Coxe, co-founder and former CEO of the Blanc & Otus PR firm, contributed $100 million$100 million.

Baylor scientist lands $2M grant to explore links between viruses and Alzheimer’s

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A Baylor College of Medicine scientist will begin exploring the possible link between Alzheimer’s disease and viral infections thanks to a $2 million grant awarded in March.

Dr. Ryan S. Dhindsa is an assistant professor of pathology & immunology at Baylor and a principal investigator at Texas Children’s Duncan Neurological Research Institute (Duncan NRI). He hypothesizes that Alzheimer’s may have some link to previous viral infections contracted by the patient. To study this intriguing possibility, the American Brain Foundation has gifted him the Cure One, Cure Many award in neuroinflammation.

“It is an honor to receive this support from the Cure One, Cure Many Award. Viral infections are emerging as a major, underappreciated driver of Alzheimer's disease, and this award will allow our team to conduct the most comprehensive screen of viral exposures and host genetics in Alzheimer's to date, spanning over a million individuals,” Dhindsa said in a news release. “Our goal is to identify which viruses matter most, why some people are more vulnerable than others, and ultimately move the field closer to new therapeutic strategies for patients.”

Roughly 150 million people worldwide will suffer from Alzheimer’s by 2050, making it the most common cause of dementia in the world. Despite this, scientists are still at a loss as to what exactly causes it.

Dhindsa’s research is part of a new range of theories that certain viral infections may trigger Alzheimer’s. His team will take a two-fold approach. First, they will analyze the medical records of more than a million individuals looking for patterns. Second, they will analyze viral DNA in stem cell-derived brain cells to see how the infections could contribute to neurological decay. The scale of the genomic data gathering is unprecedented and may highlight a link that traditional studies have missed.

Also joining the project are Dr. Caleb Lareau of Memorial Sloan Kettering Cancer Center and Dr. Artem Babaian of the University of Toronto. Should a link be found, it would open the door to using anti-virals to prevent or treat Alzheimer’s.

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