Rice University edtech startup adds new partners

best in class

A edtech startup that is lowering the cost of textbooks for students has added nine new partners. Image via openstax.org

Rice University's educational technology initiative has added nine technology partners that will supply everything from business simulation software to test preparation tools.

The initiative's OpenStax Ally program enhances OpenStax textbook content with low-cost learning technology. The nine new OpenStax Ally partners are:

  • Mumbai, India-based Hurix, a provider of e-learning software.
  • San Francisco-based LiveCarta, which digitizes books and other content.
  • San Mateo, California-based Market Games, which gamifies the learning experience for business students.
  • New York City-based Method Test Prep, which offers courses to help students improve their ACT and SAT scores.
  • A Coruña, Spain-based Netex, whose tools help users create digital content.
  • Chicago-based PowerNotes, which provides a tool for organizing online academic research.
  • Chicago-based Red Flag Mania, whose game-based experience is designed to enhance users' critical thinking and problem-solving skills.
  • Amsterdam, the Netherlands-based Sowiso, which offers a virtual teaching assistant for STEM education.
  • Farmington, Connecticut-based Stemify, whose technology helps boost the STEM capabilities of students and teachers.

These companies' platforms will be made available for global users of OpenStax — more than 36,000 instructors and 4 million students — in the spring 2022 semester.

Rice launched OpenStax in 2012. The initiative reported in August that it has saved students $1.2 billion through the publication of free, openly licensed textbooks. More than 60 percent of degree-granting schools in the U.S. use OpenStax textbooks.

"Expanding offerings through the OpenStax Ally program will allow us to provide our adopters and their students with a wide array of tools that can truly meet their unique needs," Daniel Williamson, managing director of OpenStax, says in a news release. "It's essential to provide educators with strong and vast technology options. They know their students and what will work best for them, and should have the ability to choose the right technology."

The nine new partners join 65 organizations that already offer OpenStax tools for purposes such as classroom engagement, content customization, simulations, and online homework.

"Working with OpenStax takes us closer to reimagining the business textbook," says Casey Nguyen, digital marketing manager at Market Games, whose business simulation technology is at aimed at first-year students. "We … can gamify the learning experience to make quality business education more accessible, realistic, and engaging."

Educational technology providers that want to sign up for the OpenStax Ally program can apply during one of two application periods each year. The next period will begin at the close of the spring 2022 semester.

Over 90 percent of students will work with a digital textbook at some point this year. Getty Images

Nearly 3 million students are using Rice University-published online textbooks this year

Uploading education

More and more students and educational institutions are opting out of physical textbooks each year. One company leading the digital textbook revolution is located right here in Houston.

OpenStax is a Rice University-based publisher of open educational resources. The company has been publishing its free resources since 2012, growing its presence to over 36 college and Advanced Placement courses, according to a news release from Rice.

This year, over 90 percent of students will log on to free textbooks digitally in some way — through a website, PDF, or on OpenStax, the release states, and OpenStax new app received almost 58,000 downloads in just a month.

"We are exceeding even our own expectations of growth and impact on a daily basis," says Daniel Williamson, managing director of OpenStax, in a release. "This tells us that people believe in what we've created and that we need to keep going."

The company, which focuses on access to textbooks for students, also provides print books at a lower cost, and OpenStax entered into a deal with Vretta Inc. to expand this print program to Canada earlier this year.

OpenStax itself is responsible for saving 9 million students over $830 million, per the release, not the mention the fact that digital resources is driving the cost of textbooks down in general.

"Until a few years ago the college textbook bubble had seen sustained growth — textbook prices had risen 800 percent over 50 years," says Mark Perry, a scholar at The American Enterprise Institute and professor of economics and finance at the University of Michigan, in the release. "In 2017, there was a market-wide drop in textbook prices, and I believe that free alternatives like OpenStax books are central to that disruption."

OpenStax has plans to continue its growth with the launch of Rover by OpenStax, which is a low-cost online math tool that incorporates a step-by-step feedback technology called Stepwise.

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Houston unicorn closes $421M to fuel first phase of flagship energy project

Heating Up

Houston geothermal unicorn Fervo Energy has closed $421 million in non-recourse debt financing for the first phase of its flagship Cape Station project in Beaver County, Utah.

Fervo believes Cape Station can meet the needs of surging power demand from data centers, domestic manufacturing and an energy market aiming to use clean and reliable power. According to the company, Cape Station will begin delivering its first power to the grid this year and is expected to reach approximately 100 megwatts of operating capacity by early 2027. Fervo added that it plans to scale to 500 megawatts.

The $421 million financing package includes a $309 million construction-to-term loan, a $61 million tax credit bridge loan, and a $51 million letter of credit facility. The facilities will fund the remaining construction costs for the first phase of Cape Station, and will also support the project’s counterparty credit support requirements.

Coordinating lead arrangers include Barclays, BBVA, HSBC, MUFG, RBC and Société Générale, with additional participation from Bank of America, J.P. Morgan and Sumitomo Mitsui Trust Bank, Limited, New York Branch.

“As demand for firm, clean, affordable power accelerates, EGS (Enhanced Geothermal Systems) is set to become a core energy asset class for infrastructure lenders,” Sean Pollock, managing director, project Finance at RBC Capital Markets, said in a news release. “Fervo is pioneering this step change with Cape Station, a vital contribution to American energy security that RBC is proud to support.”

The oversubscribed financing marks Cape Station’s shift from early-stage and bridge funding to a long-term, non-recourse capital structure, according to the news release.

“Non-recourse financing has historically been considered out of reach for first-of-a-kind projects,” David Ulrey, CFO of Fervo Energy, said in a news release. “Cape Station disrupts that narrative. With proven oil and gas technology paired with AI-enabled drilling and exploration, robust commercial offtake, operational consistency, and an unrelenting focus on health and safety, we have shown that EGS is a highly bankable asset class.”

Fervo continues to be one of the top-funded startups in the Houston area. The company has raised about $1.5 billion prior to the latest $421 million. It also closed a $462 million Series E in December.

According to Axios Pro, Fervo filed for an IPO that would value the company between $2 billion and $3 billion in January.

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This article first appeared on EnergyCapitalHTX.com.

Houston food giant Sysco to acquire competitor in $29 billion deal

Mergers & Acquisitions

Sysco, the nation's largest food distributor, will acquire supplier Restaurant Depot in a deal worth more than $29 billion.

The acquisition would create a closer link between Sysco and its customers that right now turn to Restaurant Depot for supplies needed quickly in an industry segment known as “cash-and-carry wholesale.”

Sysco, based in Houston, serves more than 700,000 restaurants, hospitals, schools, and hotels, supplying them with everything from butter and eggs to napkins. Those goods are typically acquired ahead of time based on how much traffic that restaurants typically see.

Restaurant Depot offers memberships to mom-and-pop restaurants and other businesses, giving them access to warehouses stocked with supplies for when they run short of what they've purchased from suppliers like Sysco.

It is a fast growing and high-margin segment that will likely mean thousands of restaurants will rely increasingly on Sysco for day-to-day needs.

Restaurant Depot shareholders will receive $21.6 billion in cash and 91.5 million Sysco shares. Based on Sysco’s closing share price of $81.80 as of March 27, 2026, the deal has an enterprise value of about $29.1 billion.

Restaurant Depot was founded in Brooklyn in 1976. The family-run business then known as Jetro Restaurant Depot, has become the nation's largest cash-and-carry wholesaler.

The boards of both companies have approved the acquisition, but it would still need regulatory approval.

Shares of Sysco Corp. tumbled 13% Monday to $71.26, an initial decline some industry analysts expected given the cost of the deal.

Houston researcher builds radar to make self-driving cars safer

eyes on the road

A Rice University researcher is giving autonomous vehicles an “extra set of eyes.”

Current autonomous vehicles (AVs) can have an incomplete view of their surroundings, and challenges like pedestrian movement, low-light conditions and adverse weather only compound these visibility limitations.

Kun Woo Cho, a postdoctoral researcher in the lab of Rice professor of electrical and computer engineering Ashutosh Sabharwal, has developed EyeDAR to help address such issues and enhance the vehicles’ sensing accuracy. Her research was supported in part by the National Science Foundation.

The EyeDAR is an orange-sized, low-power, millimeter-wave radar that could be placed at streetlights and intersections. Its design was inspired by that of the human eye. Researchers envision that the low-cost sensors could help ensure that AVs always pick up on emergent obstacles, even when the vehicles are not within proper range for their onboard sensors and when visibility is limited.

“Current automotive sensor systems like cameras and lidar struggle with poor visibility such as you would encounter due to rain or fog or in low-lighting conditions,” Cho said in a news release. “Radar, on the other hand, operates reliably in all weather and lighting conditions and can even see through obstacles.”

Signals from a typical radar system scatter when they encounter an obstacle. Some of the signal is reflected back to the source, but most of it is often lost. In the case of AVs, this means that "pedestrians emerging from behind large vehicles, cars creeping forward at intersections or cyclists approaching at odd angles can easily go unnoticed," according to Rice.

EyeDAR, however, works to capture lost radar reflections, determine their direction and report them back to the AV in a sequence of 0s and 1s.

“Like blinking Morse code,” Cho added. “EyeDAR is a talking sensor⎯it is a first instance of integrating radar sensing and communication functionality in a single design.”

After testing, EyeDAR was able to resolve target directions 200 times faster than conventional radar designs.

While EyeDAR currently targets risks associated with AVs, particularly in high-traffic urban areas, researchers also believe the technology behind it could complement artificial intelligence efforts and be integrated into robots, drones and wearable platforms.

“EyeDAR is an example of what I like to call ‘analog computing,’” Cho added in the release. “Over the past two decades, people have been focusing on the digital and software side of computation, and the analog, hardware side has been lagging behind. I want to explore this overlooked analog design space.”

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