Amy Chronis is passing over the local leadership reins at Deloitte to Melinda Yee. Photos courtesy

Amy Chronis, a Houston business leader within the energy industry and beyond, is retiring next summer. Her replacement has been named.

Melinda Yee will be the incoming Houston managing partner at Deloitte, replacing Chronis who held the role along with the title vice chair and US energy and chemicals leader. Chronis will retire in June 2024, and Yee's new role is effective January 2.

“Melinda has been an active and valued member of Deloitte’s Houston leadership team. She brings an impressive depth of both industry and marketplace knowledge to her new role as managing partner,” Chronis says in a news release. “I am confident that she will be a great leader for our Houston professionals and in the local community.”

Yee has worked at Deloitte for over 30 years and has served as both Deloitte’s central region risk and advisory leader as well as the Houston risk and advisory leader. She also held the title of energy and chemicals leader within Deloitte’s mergers, acquisitions, and restructuring services practice. She's worked on transactions across the energy value chain, as well as waste management, manufacturing, industrials, services, retail operations and investment management, per the release.

“I am honored to have been asked to serve as the managing partner for Deloitte’s Houston practice,” Yee says in the release. “I look forward to continuing the great work Deloitte has accomplished under Amy’s leadership, delivering results for our clients and making an impact in the Houston community.”

In addition to her role at Deloitte, she serves as a board member for Junior Achievement of Southeast Texas, a member of the Energy Transition Committee for the Greater Houston Partnership, and is Audit Committee chair, director and trustee at the University of Colorado Foundation.

------

This article originally ran on EnergyCapital.

This week's roundup of Houston innovators includes Wogbe Ofori of WRX Companies, Amy Chronis of Deloitte, Steve Altemus of Intuitive Machines, and the 2023 Houston Innovation Awards winners. Photos courtesy

3+ Houston innovators to know this week

who's who

Editor's note: In this week's roundup of Houston innovators to know, I'm introducing you to three local innovators across industries — from hardtech to digital solutions — recently making headlines in Houston innovation.

Wogbe Ofori, founder and chief strategist of WRX Companies

Wogbe Ofori, founder and chief strategist of WRX Companies, joins the Houston Innovators Podcast to discuss hardtech and Houston as an innovative city. Photo via LinkedIn

To Wogbe Ofori, the definition of entrepreneurship is simple: "To be more opportunity centric than risk averse." And Houston, as he says, has be entrepreneurial for a very long time — despite it being considered the specialty of a certain coastal region.

"Silicon Valley has hijacked the concept of innovation and entrepreneurship, and this city has been filled with entrepreneurs long before the concept of 'tech entrepreneurs,'" Ofori says on this week's episode of the Houston Innovators Podcast.

Ofori, the founder and chief strategist of WRX Companies, has developed a keen eye for entrepreneurship and innovation activity in Houston and shares his observations on the show. An adviser to Nauticus Robotics and strategist to Intuitive Machines and Jacobs, he's also served as a mentor across the local innovation community. Read more or listen below.

Amy Chronis, vice chair, US Energy and Chemicals Leader and Houston managing partner at Deloitte

Amy Chonis shares Houston listmakers from Deloitte's annual report. Photo courtesy Deloitte/AlexandersPortraits.com

Deloitte just unveiled the fastest-growing technology companies in North America — and four businesses from Houston made the cut.

For the 29th year, 2023 Technology Fast 500 ranked top tech, media, telecommunications, life sciences, and energy technology companies based on fiscal year revenue growth from 2019 to 2022. While no Houston business was able to break into the top 100, four did make the cut for this year's list.

“It is great to see Houston represented alongside established technology hubs on this year’s Fast 500 list,” Amy Chronis, vice chair, US Energy and Chemicals Leader and Houston managing partner at Deloitte, says in a statement. “Houston is planting seeds for future innovation, and the companies named to this year’s list confirm our city’s value proposition as an innovative community. We look forward to this growth continuing in the future and extend our congratulations to this year’s Houston winners.” Read more.

Steve Altemus, co-founder, president, and CEO of Intuitive Machines

Intuitive Machines has some big news. Photo via intuitivemachines.com

Intuitive Machines has landed a nearly $9.5 million Air Force contract to develop technology for NASA’s Gateway project, the first space station that will orbit the moon. Specifically, the technology will support a high-powered nuclear fission system that will supply electricity for satellites, bypassing the need for power from solar, battery, or fuel-cell sources.

“As space exploration ventures become more ambitious and diverse, the need for efficient and reliable power sources in space is paramount,” Pete McGrath, vice president of business development at Intuitive Machines, says in a news release. “Developing the ability to expand power sources beyond solar, which requires heavy battery storage, could remove the burden of constantly worrying about a spacecraft’s arrays relative to the sun, and potentially deliver long-term stability for satellites that would otherwise lose power over time.”

Second, Intuitive Machines has set January window for the launch of its IM-1 lunar mission in conjunction with private aerospace company SpaceX. The liftoff is targeted for a multiday window that opens January 12, 2024. Read more.

The 2023 Houston Innovation Awards winners

The 2023 Houston Innovation Awards revealed its big winners across 13 categories. Photos courtesy

Who are the top innovators and startups in Houston? We just found out for you. The Houston Innovation Awards honored over 50 finalists categories, naming the 12 winners at the event. The 2023 Trailblazer Award recipient, Brad Burke, managing director of the Rice Alliance for Technology and Entrepreneurship, was also honored at the event by inaugural winner, Barbara Burger. Read more.

Four Houston companies ranked on Deloitte's annual list, but none were able to crack the top 100. Photo via Getty Images

Annual report ranks 4 Houston tech companies on list of fasting growing businesses

trending up

Deloitte just unveiled the fastest-growing technology companies in North America — and four businesses from Houston made the cut.

For the 29th year, 2023 Technology Fast 500 ranked top tech, media, telecommunications, life sciences, and energy technology companies based on fiscal year revenue growth from 2019 to 2022. While no Houston business was able to break into the top 100, four did make the cut for this year's list.

“It is great to see Houston represented alongside established technology hubs on this year’s Fast 500 list,” Amy Chronis, vice chair, US Energy and Chemicals Leader and Houston managing partner at Deloitte, says in a statement. “Houston is planting seeds for future innovation, and the companies named to this year’s list confirm our city’s value proposition as an innovative community. We look forward to this growth continuing in the future and extend our congratulations to this year’s Houston winners.”

The four Houston companies that make the 2023 list are:

  • Direct Digital Holdings at No. 108 with 1,325 percent growth
  • Liongard at No. 208 with 680 percent growth
  • NatGasHub.com at No. 356 with 364 percent growth
  • P97 Networks at No. 506 with 225 percent growth

Thirty Texas companies made the list of the 541 ranked, making it the fourth most concentrated hub on the list behind the Bay Area, Tri-State Area, and New England. The companies on the list reported a revenue growth ranging from 201 percent to 222,189 percent over the three-year time frame from 2019 to 2022. The average growth rate was 1,934 percent and a median growth rate of 497 percent.

“Each year, we look forward to reviewing the progress and innovations of our Technology Fast 500 winners," Paul Silverglate, vice chair, Deloitte LLP and U.S. technology sector leader, says in the release. "This year is especially celebratory as we expand the number of winners to better represent just how many companies are developing new ideas to progress our society and the world, especially during a slow economy. While software and services and life sciences continue to dominate the top 10, we are encouraged to see other categories making their mark."

Software dominated the industry breakdown with 57 percent of the companies working in that field. However, the top company for 2023 was Vir Biotechnology Inc., a life science company that developed a COVID-19 treatment. Vir was also the top company in 2022.

Last year, only one Houston company made the list. At No. 372 Onit reported a revenue increase of 369 percent. The company also made the 2021 list, along with Graylog and Enercross.

"Houston is literally putting its money where its mouth is when it comes to leading the energy transition," the report reads. Image via Getty Images

Report: Houston sees $250M in cleantech investments so far this year

by the numbers

Houston is cleaning up when it comes to cleantech investments.

Through the first three quarters of 2022, companies in Houston invested a combined $250 million in cleantech, according to new data from professional services firm Deloitte. In terms of the size of ESG deals in Houston this year, 55 percent have been valued at $50 million and above, Deloitte says.

“Houston is literally putting its money where its mouth is when it comes to leading the energy transition,” Deloitte says.

Deloitte notes that this type of investment is critical as companies get their internal “ESG house” in order ahead of the U.S. Securities and Exchange Commission issuing new rules surrounding ESG reporting.

Since the start of 2020, close to $50 billion has been invested through more than 900 expansion-stage deals in the U.S., “with 2022 hardly seeing a slowdown, despite the volatility-inducing factors that currently roil global economies and markets,” Deloitte says in a new report.

“Much of this surge can be attributed to the frontier of technical innovation pushing forward to the point that adoption is growing across multiple sectors, even if at a slow pace in some arenas,” the report says. “For example, aerospace and related parts manufacturers are working on modernizing traffic management to optimize flight patterns and curb emissions, while [R&D] is proceeding quickly in new propulsion technologies … .”

The report goes on to say that the chemical industry could see a surge in demand for decarbonization tech as more companies seek to hit net-zero emissions by 2050 and a decrease in emissions if newer manufacturing processes are adopted.

Houston’s cleantech scene got a big boost in 2021 when Greentown Labs, an incubator for climatetech startups, opened a location here.

The CEO of the Somerville, Massachusetts-based incubator, Emily Reichert, recently stepped down. She will serve as CEO emeritus until her successor is hired. Reichert joined Greentown Labs in 2013 as its first employee.

Kevin Taylor, currently Greentown’s chief financial officer, has been named interim CEO. He came aboard in January as the organization’s first full-time CFO.

“Emily’s impact on the climatetech sector — and on the lives of our past and present startups and Greentown staff members — cannot be overstated,” Taylor says in a news release. “She is a consummate professional and the quintessential example of entrepreneurial excellence.”

In October, Greentown launched the Texas Entrepreneurship Exchange for Energy (TEX-E), a collaboration among Greentown Labs, MIT’s Martin Trust Center for Entrepreneurship, and five Texas universities aimed at creating a student-driven entrepreneurship ecosystem in Houston. The five founding schools are Rice University, the University of Houston, Prairie A&M University, Texas A&M University, and the University of Texas at Austin.

“Houston has long been known as the energy capital of the world, but to lead the world’s energy transition, the city must create a strong, vibrant innovation ecosystem to support the next generation of entrepreneurs and energy companies,” Lara Cottingham, chief of staff at Greentown, said in October. “TEX-E will build upon Texas universities’ deep and long-standing connections to the energy industry by helping to attract and retain the world-class talent needed to supercharge Houston’s innovation ecosystem.”

Ad Placement 300x100
Ad Placement 300x600

CultureMap Emails are Awesome

10+ can't-miss Houston business and innovation events for December

WHERE TO BE

From networking meetups to holiday parties, December is lined with opportunities for Houston innovators.

Here's a roundup of events you won't want to miss out on so mark your calendars and register accordingly.

Note: This post might be updated to add more events.

December 4 — Pumps & Pipes Annual Event 2023

This innovation gathering brings together cross-industry leaders for engaging discussions and top tier networking opportunities. Check out panels and listen to speakers discuss everything from generative AI technology to sustainability projects that are currently underway in Houston. Price of admission is $50.

This event is Monday, December 4, from 8 am to 5 pm, at the Ion. Click here to register.

December 5 — Jingle Mingle - a Houston Tech eXtravaganza

Jingle Mingle - a Houston Tech eXtravaganza is a celebration of the Houston startup ecosystem and the people who make it happen. Network while enjoying stunning views of the Downtown skyline and Wonderlawn holiday lights. Price of admission is $32.

This event is Tuesday, December 5, from 5 to 8 pm, at POST Houston. Click here to register.

December 5 — Fireside Chat with McKeon and Flavin

TMC CEO Bill McKeon and Portal Innovations CEO and Founder John Flavin collaborate in a fireside chat to provide valuable insight into the medtech field. Topics of discussion will include scientific ideation in life sciences, medtech, and bioinformatics through commercial proof of concept by delivering seed capital, specialized equipment, lab space, and management expertise to high-potential early-stage companies.

This event is Tuesday, December 5, from 4:30 to 6:30 pm, at Texas Medical Center Helix Park. Click here to register.

December 6 — Houston Veterans in Residence Showcase

The Veterans in Residence Showcase honors veteran and military spouse entrepreneurs who are participating in the Veterans in Residence Program in cohorts across the country. This event will celebrate the hard work of 23B ViR Cohort Entrepreneurs with a showcase, networking, and a pitch competition.

This event is Wednesday, December 6, from 6 to 8 pm, at the Cannon West Houston. Click here to register.

December 7 — 9th Annual Evening of Pediatric Device Innovation

Check out this annual gathering of members, colleagues, and guests for this FDA-supported pediatric device consortium that supports pediatric device innovators throughout the pediatric device life cycle to bring novel pediatric devices to pediatric patients.

This event is Thursday, December 7, from 4 to 7 pm, at Texas A&M EnMed Tower. Click here to register.

December 7 — Investor Speaker Series: Both Sides of the Coin

Attendees will get a behind-the-scenes look at the equity investment process for a Greentown Labs startup and what best practices both founders and investors can follow to keep things moving smoothly. There will also be a happy hour with opportunities to network and mingle.

This event is Thursday, December 7, from 4 to 7:30 pm, at Greentown Labs Houston. Click here to register.

December 8 — 2023 SMBHOU Gift of Guidance: Help a Nonprofit and Learn

Looking for an opportunity to make a difference this year? The Houston Social Media Breakfast will meet with 10 local nonprofits to help them with a strategy to use social media for their charity. Check out this event and meet other communicators in Houston. You need no special skills, just a willingness to learn and share.

This event is Friday, December 8, from 8:30 to 11 am, at 1801 Main St. Click here to register.

December 12 — Houston Methodist Reverse Pitch with Dr. Evan Collins

This reverse pitch session will be hosted by Dr. Evan D. Collins, MD MBA, Chief of the Houston Methodist Hand & Upper Extremity Center at the Texas Medical Center and the hand specialist for The Center for Performing Arts Medicine (CPAM) at Houston Methodist. Dr. Collins will share a short presentation about his clinical work and current challenges and then open the floor to discussion for new creative solutions.

This event is Tuesday, December 12, from 4 to 5:30 pm, at the Ion. Click here to register.

December 13 — Bayou City Bio Pulse

The Greater Houston Partnership’s Life Sciences Committee, in collaboration with BioHouston, invites you to attend the Bayou City Bio Pulse to connect with the region’s most innovative life sciences and biotechnology organizations face-to-face. The presenters will also describe best practices for AI Governance—the path to realizing AI’s possibilities while ensuring trust, fairness, safety, and security.

This event is Wednesday, December 13 from 4:30 to 6:30 pm, at Rice University. Click here to register.

December 19 — UH Tech Bridge - Innov8Hub Pitch Day

This event is your chance to immerse yourself in the vibrant startup ecosystem, network with industry experts, and discover the next big thing. Innov8Hub is a founder-driven series of accelerator programs for early-stage ventures and entrepreneurs who are members of the UH community.

This event is Tuesday, December 19, from 4:30 to 7 pm, at 5000 Gulf Fwy. Click here to register.

December 21 — Female Founders & Friends

Female founders, funders and allies looking for connections with other like-minded go-getters in the Houston community should head on down. Coffee and breakfast will be provided.

This event is Thursday, December 21, from 9 to 10 am, at the Sesh Coworking. Click here to register.

Texas and California battle it out for most relocating residents, Census report says

by the numbers

Texans love to joke about how many Californians are moving here, but a rising trend in Texas residents' relocation habits may have Californians saying the same thing about Texans soon.

A new U.S. Census report analyzing state-to-state migration has revealed new estimates regarding Texas' growing population in 2022. According to the report, more than 668,000 new residents relocated to Texas from out-of-state last year.

Not surprisingly, the highest number of new Texans hailed from California. More than 102,000 Californians made the move to the Lone Star State in 2022.

But in a fun population twist, California also received the most Texpats in 2022, the report showed, followed closely behind by Florida, then Oklahoma. Of the 494,077 people who left Texas last year, 42,279 went to California.

Why Californians move to Texas
Californians often seek out a lower cost of living by moving to the most "affordable" cities in the state. Houston has shown to be at the top of the priority destination list; Dallas usurped Austin as the No. 1 city for California movers earlier this year. And when a California transplant can save more than $646,000 by moving to Texas and buying a home in Houston, it's not hard to see the appeal

Other reasons for the California-to-Texas exodus include the lack of income tax and the flexibility of remote work opportunities, they say.

While California took the lead with the most new movers flocking to Texas, Floridians are also choosing to pack up and leave their Sunshine State for the Lone Star State, the report says.

The top 5 states with the most residents moving to Texas in 2022 were:

  • California – 102,442 new residents
  • Florida – 41,747 new residents
  • New York – 30,890 new residents
  • Illinois – 25,272 new residents
  • Louisiana – 25,192 new residents

Where Texans are moving
The Census report showed that less than half a million Texas residents relocated out-of-state last year, totaling 494,077 people.

"Texas had the country's lowest (11.7 percent) outmigration rate, with most of those who did move relocating to California (42,479) or Florida (38,207)," the report said.

The top five states where Texans moved in 2022 were:

  • California – 42,279 Texans
  • Florida – 38,207 Texans
  • Oklahoma – 26,440 Texans
  • Colorado – 25,466 Texans
  • Georgia – 23,754 Texans

New Texans from abroad
In addition to state-by-state migration data, the report also provided estimates for how many new Texans came from abroad. Out of 237,051 new residents, the majority – 233,751 people – relocated from outside the mainland last year.

About 2,441 people moved from Puerto Rico, and 859 arrived from unspecified U.S. island areas.

Texas has been a magnet for international homebuyers for several years. The state has held its position as the third hottest U.S. housing market for international homebuyers for the fourth consecutive year in 2023. A total of 9,900 Texas homes were purchased by buyers from outside the U.S last year, spending a gigantic sum of $4.3 billion.

------

This article originally ran on CultureMap.