Wolfe & Wine Co. is using a new software to dispatch meals to hospital workers as well as new meal prep customers. Getty Images

With an abundance of Houston restaurant and business closures spurred by the coronavirus pandemic, small company leaders are forced to develop resourceful solutions to keep afloat and compensate for slowed revenue.

Founder and chef of Houston-based Wolfe & Wine Co., Daniel Wolfe, has rejigged his social-focused business model to cater single-meal orders instead of large group orders.

Wolfe & Wine Co. is a full-service, chef-driven catering company, specializing in pop-up dinners paired with specially curated wines. Launched only a few short months ago in September 2019, Wolfe was looking forward to expanding his business across the Houston metroplex in 2020, one specially-catered social gathering at a time. His plans changed in March, when COVID-19 began to ingratiate itself in pockets of Houston.

"My business model thrives on events with more than 10 people, so we pivoted our focus to meal prep," Wolfe says.

Within 72 hours in March, Wolfe lost around $70,000 worth of revenue with the cancelation of all of his upcoming catering events, then feeling the first wave of economic and logistical impacts of COVID-19. However, Wolfe faced these hurdles with innovative and community-focused solutions that have already sustained his business and benefitted thousands of Houstonians whose lives have been affected by the coronavirus.

With the help of food service supplier Ben E. Keith Co. and cloud-based delivery management software company Dispatch Science, Wolfe & Wine Co. received the financial and technological sponsorship needed to provide single meals to his customers, and to donate meals to medical staff, including the entire Houston Methodist Emergency Room and ICU departments, and Houstonians in need.

"The dispatch software that we use is similar to what UPS, FedEx and Amazon use. When you order with us, you can track where your meal is in real time…That transparency separates us from [other meal prep companies]," Wolfe says.

Since producing single-order meal prep packages for his customers, Wolfe has noted that the two biggest challenges he has faced have been altering his recipes to accommodate single servings, and striving to maintain the same high-quality, personalized customer experience that he provides at his catering events.

In various industries, not only in Houston but across the globe, there will be elements of business that are forced to restructure, to accommodate the new economic and logistical boundaries brought upon by the COVID-19 pandemic.

"This virus is forcing people to innovate, forcing people stuck in their ways to change and adapt, or they'll fail," Wolfe says.

For the hospitality industry specifically, Wolfe foresees that restaurants' refined food takeout processes, along with the delivery of liquor, beer and wine, will play a huge role in their fiscal well-being after this health crisis subsides.

"Businesses that said 'we're not doing takeout' are now doing takeout because they don't have a choice," Wolfe says. "In the next few months, you're going to see a lot more offerings for takeout and delivery. You're going to see a lot more refined and better customer experiences for takeout, especially with millennials."

Sharpened takeout programs and alcohol delivery are projected to revolutionize the food and beverage industry, Wolfe says. In addition to enhanced technological components and takeout processes, community stewardship has been a main theme within the industry, Wolfe noted.

"The hospitality industry, nurses, grocery stores and others, those are the people carrying the country through this pandemic," Wolfe says. "You're not just some kid flipping a burger or stocking a box on a shelf."

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Houston quantum energy chip startup emerges from stealth with $12M round

seed funding

Houston-based Casimir has emerged from stealth with a $12 million seed round to commercialize its quantum energy chip.

The round was led by Austin-based Scout Ventures. Lavrock Ventures, Cottonwood Technology, Capital Factory, American Deep Tech, and Tim Draper of Draper Associates also participated in the round. The oversubscribed round exceeded the company’s original $8 million target, according to a news release.

Casimir’s semiconductor chips can generate power from quantum vacuum fields without the need for batteries or charging. The company plans to commercialize its first-generation MicroSparc chip by 2028.

The MicroSparc chip measures 5 millimeters by 5 millimeters and is designed to produce 1.5 volts at 25 microamps, comparable to a small rechargeable battery, without degradation and no replacement cycle.

“Casimir represents exactly the kind of breakthrough dual-use technology Scout Ventures was built to back,” Brad Harrison, founder and managing partner at Scout Ventures, said in the release. “This is based on 100 years of science and we’re finally approaching a commercial product … We’re proud to lead this round and support Casimir’s journey from applied science to deployed technology.”

Casimir says it aims to scale its technology across the ”full power spectrum,” including large-scale energy systems that can power homes, commercial infrastructures and electric vehicles.

Casimir's scientific work has been supported by DARPA-funded nanofabrication research and its technology was incubated at the Limitless Space Institute (LSI). LSI is a nonprofit that works to innovate interstellar travel and was founded by Kam Ghaffarian. Technology investor and serial entrepreneur Ghaffarian has been behind companies like X-energy, Intuitive Machines, Axiom Space and Quantum Space.

Harold “Sonny” White, founder and CEO of Casimir, believes the technology can power devices for years without replacements.

“Millions of devices will operate for years without a battery ever needing to be replaced or recharged because we have engineered a customized Casimir cavity into hardware capable of producing persistent electrical power,” White added in the release. “I spent nearly two decades at NASA studying how we power humanity’s future. That work led me to the Casimir effect and the quantum vacuum, where new tools have allowed us to build on a century of scientific knowledge and bring abundant power to the world.”

Houston-based Fervo Energy bumps up IPO target to $1.82 billion

IPO update

Houston-based geothermal power company Fervo Energy is now eyeing an IPO that would raise $1.75 billion to $1.82 billion, up from the previous target of $1.33 billion.

In paperwork filed Monday, May 11 with the U.S. Securities and Exchange Commission, Fervo says it plans to sell 70 million shares of Class A common stock at $25 to $26 per share.

In addition, Fervo expects to grant underwriters 30-day options to buy up to 8.33 million additional shares of Class A common stock. This could raise nearly $200 million.

When it announced the IPO on May 4, Fervo aimed to sell 55.56 million shares at $21 to $24 per share, which would have raised $1.17 billion to $1.33 billion. The initial valuation target was $6.5 billion.

A date for the IPO hasn’t been scheduled. Fervo’s stock will be listed on Nasdaq under the ticker symbol FRVO.

Fervo, founded in 2017, has attracted about $1.5 billion in funding from investors such as Bill Gates-founded Breakthrough Energy Ventures, Google, Mitsubishi Heavy Industries, Devon Energy (which is moving its headquarters to Houston), Tesla co-founder JB Straubel, CalSTRS, Liberty Mutual Investments, AllianceBernstein, JPMorgan, Bank of America and Sumitomo Mitsui Trust Bank.

Fervo’s marquee project is Cape Station in Beaver County, Utah, the world’s largest EGS (enhanced geothermal system) project. The first phase will deliver 100 megawatts of baseload clean power, with the second phase adding another 400 megawatts. The site can accommodate 2 gigawatts of geothermal energy. Fervo holds more than 595,000 leased acres for potential expansion.

Cape Station has secured power purchase agreements for the entire 500-megawatt capacity. Customers include Houston-based Shell Energy North America and Southern California Edison.

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