International energy conference names 12 Houston companies to pitch at inaugural innovation track

it's (almost) go time

Twelve Houston startups will pitch at the World Petroleum Congress, which will be hosted in Houston this year. Photo via Getty Images

A dozen Houston companies will take the stage next month for a pitch competition during the World Petroleum Congress at the George R. Brown Convention Center.

In all, 32 innovators have been selected to make presentations at the World Petroleum Congress' first-ever Innovation Zone. Presented by ConocoPhillips, the Innovation Zone will let startups showcase their solutions to challenges facing the energy sector. The winner of the pitch competition will receive the inaugural Energy Innovator Award.

The World Petroleum Congress is set for December 5-9.

The 12 Houston companies chosen for the Innovation Zone are:

CeraPhi Energy, whose technology helps companies transition to clean energy.
Chainparency, whose blockchain technology digitizes and secures records shared throughout the supply chain.
Criterion Energy Partners, an exploration and production company whose energy projects are co-located with commercial and industrial customers to promote emission reductions and improve operating efficiencies.
CruxOCM, whose technology powers autonomous control rooms in heavy industrial settings.
dataVediK, whose AI and machine learning technology fuels performance optimization, energy transition, and carbon footprint reduction at energy companies.
DrillDocs, whose software allows real-time analysis of activity at onshore and offshore drilling rigs.
Hess, an oil and gas exploration and production company that will show off technology enabling autonomous fracturing. (Hess is one of the sponsors of this year's World Petroleum Congress.)
Ionada Carbon Solutions, a producer of carbon capture systems.
Nesh, a creator of subject-matter avatars.
Oilify, whose WhaleShark technology advances the process of separating gas and solids.
Sourcenergy, which specializes in upstream energy and water intelligence supported by AI and machine learning.
Water Lens, whose mobile system provides lab-quality tests for over 30 water quality factors.

"For more than a century, innovation has enabled our industry to keep pace with the growing demand for safe and reliable energy," W.L. "Bill" Bullock Jr., executive vice president and chief financial officer of ConocoPhillips, said in an August news release. The Innovation Zone will shine a spotlight on "innovations that can propel our industry's purposeful journey through the energy transition and into the future," he added.

The UH software will help DrillDocs customers make better and safer decisions out on the rigs. Photo via Getty Images

Startup taps UH-licensed technology to better optimize rig analytics

here's the drill

A Houston startup has tapped into the know-how of three University of Houston professors to help improve oil and gas drilling operations.

The startup, DrillDocs, has licensed software developed by UH professors Jiefu Chen, Xuqing (Jason) Wu, and Zhu Han that enables real-time analysis of activity at onshore and offshore drilling rigs. Specifically, the software examines video to help classify the volume of cuttings from the shale-shaker components of drilling equipment.

According to the American Association of Petroleum Geologists, cuttings are small pieces of rock that are chipped away by a bit while a well is being drilled. The fragments then travel from the bit to the surface of the water, where they can be "caught" and studied. Drill cuttings often yield the only rock data gained from a well.

"Cutting analysis is an important task for an efficient, low-cost, and risk-free drilling execution," Chen says in a UH news release.

According to the news release, the UH software will study the cutting data to help DrillDocs customers "make more informed drilling decisions, reduce safety and environmental risks, and improve drilling performance and production."

Drilling technicians usually must repeatedly study cuttings manually, which can stifle progress and lead to human errors, according to UH.

Calvin Holt and Francois Ruel co-founded DrillDocs in 2020. The bootstrapped startup is developing the CleanSight system, which monitors shale-shaker components in an effort to reduce drilling costs and risks. DrillDocs' surface-based computer vision system can deliver data via laptops, smartphones, and other devices about the size, shape, and quantity of rocks floating to the surface.

In March, DrillDocs was identified as one of the four most promising startups that participated in a CERAWeek pitch competition.

"We're taking computer vision to the drilling rig," Holt, CEO of DrillDocs, said during his pitch. "Now, for the first time, drilling and geomechanics teams will have unique, real-time data to ascertain the well's condition."

CERAWeek attendees identified the four energy tech companies to watch. Photo via Getty Images

Rice Alliance event identifies 4 most-promising energy tech companies at CERAWeek

startups to watch

Wondering what energy tech companies you should keep an eye on? Wonder no more.

As a part of 2021 CERAWeek by IHS Markit, the Rice Alliance for Technology and Entrepreneurship hosted a virtual pitch competition today featuring 20 companies in four sessions. Each entrepreneur had four minutes to pitch, and then a few more to take questions from industry experts.

"Of the companies here today, we've intentionally selected a diverse group," says Brad Burke, managing director of the Rice Alliance at the start of the event. "They range from companies looking for their seed funding to companies that have raised $20 million or more."

The following companies pitched at the event: Acoustic Wells, ALLY ENERGY, Bluefield Technologies, Cemvita Factory, Connectus Global, Damorphe, Ovopod Ltd., DrillDocs, GreenFire Energy, inerG, Locus Bio-Energy Solutions, Nesh, Pythias Analytics, REVOLUTION Turbine Technologies, Revterra, ROCSOLE, Senslytics, Subsea Micropiles, Syzygy Plasmonics, Transitional Energy, and Universal Subsea.

At the end of each session, attendees voted via Zoom poll on which startup had the most potential. According to the event attendees, the most promising energy tech companies are:

REVOLUTION Turbine Technologies

Asheville, North Carolina-based REVOLUTION Turbine Technologies, an inaugural Greentown Houston member company, is working to "put a green spin on power." The company's micro-Expansion Turbine System produces green power for digital oilfield and pipeline initiatives through the recovery of excess natural gas pressure.

"RTT's technology provides a scalable, clean energy source to reliably power digital oilfield and pipeline initiatives at a significantly low operating cost," says Christopher Bean, founder and CEO, in his presentation. "Never has it been more important to make production and pipeline operations greener, safer, and efficient."

Connectus Global

Connectus Global, based in Calgary, provides custom technology solutions that can increase productivity, profits, and competitiveness. Connectus' Real-Time Location System, or RTLS, uses Ultra-Wide Band for communication and triangulation while hosting a Radio Frequency Identification Device, which come in the form of badges, tags, and receivers.

"In our first year, we received $800,000 in revenue and are on track to hit our numbers — $3.6 million — at the end of this fiscal year," says Mike Anderson, CEO of the company, in his presentation." We have a global white labeling agreement with Honeywell and we make up about 75 percent of their digitized workforce management portfolio."

The company's U.S. office is located in Houston.

DrillDocs

Houston-based DrillDocs has created an automated drilling cuttings characterization service, called CleanSight, that supports an operator's understanding of their wellbore's state of stability and cleanness in real time.

"We're taking computer vision to the drilling rig," says Calvin Holt, CEO and co-founder at DrillDocs, in his presentation. "Now for the first time, drilling and geomechanics teams will have unique, real-time data to ascertain the well's condition."

Revterra

Revterra, a Houston-based company and inaugural Greentown Houston member company, is creating a flywheel energy storage system for long-duration grid-scale applications.

"For those of us in Texas, the power outages we experienced a couple weeks ago are a stark reminder that the stability and the resiliency of our electric grid should be a top priority as we transition to low-emission power sources," says Ben Jawdat, founder and CEO at Revterra, in his presentation. "Energy storage is a critical element in both grid stability and enabling our transition to sustainable energy."

Here's what not to miss at the first all-virtual CERAWeek by IHS Markit. Screenshot via virtual.ceraweek.com

5 can't-miss innovation events at CERAWeek featuring Houston speakers

where to be online

While usually hundreds of energy experts, C-level executives, diplomats, members of royal families, and more descend upon Houston for the the annual CERAWeek by IHS Markit conference, this year will be a little different. Canceled last year due to COVID-19, CERAWeek is returning — completely virtually.

The Agora track is back and focused on innovation within the energy sector. The Agora track's events — thought-provoking panels, intimate pods, and corporate-hosted "houses" — can be accessed through a virtual atrium.

Undoubtedly, many of the panels will have Houston representatives considering Houston's dominance in the industry, but here are five innovation-focused events you can't miss during CERAWeek that feature Houstonians.

Monday — New Horizons for Energy & Climate Research

The COVID-19 pandemic has made vivid and real the risks of an uncontrolled virus. Risks posed by climate change are also becoming more palpable every day. At the forefront of understanding these risks, universities are developing solutions by connecting science, engineering, business, and public policy disciplines. Along with industry and governments, universities are critical to developing affordable and sustainable solutions to meet the world's energy needs and achieve net-zero emission goals. Can the dual challenge of more energy and lower emissions be met? What is some of the most promising energy and climate research at universities? Beyond research, what are the roles and responsibilities of universities in the energy transition?

Featuring: Kenneth B. Medlock, III, James A. Baker, III, and Susan G. Baker Fellow In Energy And Resource Economics, Baker Institute and Senior Director, Center For Energy Studies at Rice University

Catch the panel at 1 pm on Monday, March 1. Learn more.

Tuesday — Conversations in Cleantech: Powering the energy transition

With renewables investment outperforming oil and gas investment for the first time ever in the middle of a pandemic, 2020 was a tipping point in the Energy Transition. Low oil prices intensified energy majors' attention on diversification and expansion into mature and emerging clean technologies such as battery storage, low-carbon hydrogen, and carbon removal technologies. Yet, the magnitude of the Energy Transition challenge requires an acceleration of strategic decisions on the technologies needed to make it happen, policy frameworks to promote public-private partnerships, and innovative investment schemes.

Three Cleantech leaders share their challenges, successes, and lessons learned at the forefront of the Energy Transition. What is their vision and strategy to accelerate lowering emissions and confronting climate change? Can companies develop clear strategies for cleantech investments that balance sustainability goals and corporate returns? What is the value of increasing leadership diversity for energy corporations? Can the Energy Transition be truly transformational without an inclusive workforce and a diverse leadership?

Featuring: Emily Reichert, CEO of Greentown Labs, which is opening a location in Houston this year.

The event takes place at 11:30 am on Tuesday, March 2. Learn more.

Wednesday — Rice Alliance Venture Day at CERAWeek

The Rice Alliance for Technology and Entrepreneurship pitch event will showcase 20 technology companies with new solutions for the energy industry. Each presentation will be followed by questions from a panel of industry experts.

Presenting Companies: Acoustic Wells, ALLY ENERGY, Bluefield Technologies, Cemvita Factory, Connectus Global, Damorphe, Ovopod Ltd., DrillDocs, GreenFire Energy, inerG, Locus Bio-Energy Solutions, Nesh, Pythias Analytics, REVOLUTION Turbine Technologies, Revterra, ROCSOLE, Senslytics, Subsea Micropiles, Syzygy Plasmonics, Transitional Energy, and Universal Subsea.

The event takes place at 9 am on Wednesday, March 3. Learn more.

Thursday — How Will the Energy Innovation Ecosystem Evolve?

Although the cleantech innovation ecosystem—research institutions, entrepreneurs, financiers, and support institutions—is diverse and productive, converting cleantech discoveries and research breakthroughs into commercially viable, transformative energy systems has proven difficult. With incumbent energy systems economically efficient and deeply entrenched, cleantech innovation faces a fundamental dilemma—the scale economies necessary to compete require a large customer base that does not yet exist. How is our clean energy innovation ecosystem equipped to be transformative? What needs to be strengthened? Is it profitable to focus on individual elements, or should we consider the system holistically, and reframe our expectations?

Featuring: Barbara Burger, vice president of innovation at Chevron and president at Chevron Technology Ventures

The event takes place at 7:30 am on Thursday, March 4. Learn more.

Friday — Cities: Managing crises & the future of energy

Houston is the capital of global energy and for the past four decades the home of CERAWeek. Mayor Sylvester Turner will share lessons from the city's experience with the pandemic, discuss leadership strategies during times of crisis, and explore Houston's evolving role in the new map of energy.

The event takes place at 8 am on Friday, March 5. Learn more.

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Innovation Labs @ TMC set to launch for early-stage life science startups

moving in

The Texas Medical Center will launch its new Innovation Labs @ TMC in January 2026 to better support life science startups working within the innovation hub.

The new 34,000-square-foot space, located in the TMC Innovation Factory at 2450 Holcombe Blvd., will feature labs and life science offices and will be managed by TMC. The space was previously occupied by Johnson & Johnson's JLABS @TMC, a representative from TMC tells InnovationMap. JLABS will officially vacate the space in January.

TMC shares that the expansion will allow it to "open its doors to a wider range of life science visionaries," including those in the TMC BioBridge program and Innovation Factory residents. It will also allow TMC to better integrate with the Innovation Factory's offerings, such as the TMC Health Tech accelerator, TMC Center for Device Innovation and TMC Venture Fund.

“We have witnessed an incredible demand for life science space, not only at the TMC Innovation Factory, but also on the TMC Helix Park research campus,” William McKeon, president and CEO of the TMC, said in a news release. “Innovation Labs @ TMC enables us to meet this rising demand and continue reshaping how early-stage life science companies grow, connect, and thrive.”

“By bringing together top talent, cutting-edge research, and industry access in one central hub, we can continue to advance Houston’s life science ecosystem," he continued.

The TMC Innovation Factory has hosted 450 early-stage ventures since it launched in 2015. JLABS first opened in the space in 2016 with the goal of helping health care startups commercialize.

13 Houston businesses appear on Time's best midsize companies of 2025

new report

A Houston-based engineering firm KBR tops the list of Texas businesses that appear on Time magazine and Statista’s new ranking of the country’s best midsize companies.

KBR holds down the No. 30 spot, earning a score of 91.53 out of 100. Time and Statista ranked companies based on employee satisfaction, revenue growth, and transparency about sustainability. All 500 companies on the list have annual revenue from $100 million to $10 billion.

According to the Great Place to Work organization, 87 percent of KBR employees rate the company as a great employer.

“At KBR, we do work that matters,” the company says on the Great Place to Work website. “From climate change to space exploration, from energy transition to national security, we are helping solve the great challenges of our time through the high-end, differentiated solutions we provide. In doing so, we’re striving to create a better, safer, more sustainable world.”

KBR recorded revenue of $7.7 billion in 2024, up 11 percent from the previous year.

The other 12 Houston-based companies that landed on the Time/Statista list are:

No. 141 Houston-based MRC Global. Score: 85.84
No. 168 Houston-based Comfort Systems USA. Score: 84.72
No. 175 Houston-based Crown Castle. Score: 84.51
No. 176 Houston-based National Oilwell Varco. Score: 84.50
No. 234 Houston-based Kirby. Score: 82.48
No. 266 Houston-based Nabor Industries. Score: 81.59
No. 296 Houston-based Archrock. Score: 80.17
No. 327 Houston-based Superior Energy Services. Score: 79.38
No. 332 Kingwood-based Insperity. Score: 79.15
No. 359 Houston-based CenterPoint Energy. Score: 78.02
No. 461 Houston-based Oceaneering. Score: 73.87
No. 485 Houston-based Skyward Specialty Insurance. Score: 73.15

Additional Texas companies on the list include:

No. 95 Austin-based Natera. Score: 87.26
No. 199 Plano-based Tyler Technologies. Score: 86.49
No. 139 McKinney-based Globe Life. Score: 85.88
No. 140 Dallas-based Trinity Industries. Score: 85.87
No. 149 Southlake-based Sabre. Score: 85.58
No. 223 Dallas-based Brinker International. Score: 82.87
No. 226 Irving-based Darling Ingredients. Score: 82.86
No. 256 Dallas-based Copart. Score: 81.78
No. 276 Coppell-based Brink’s. Score: 80.90
No. 279 Dallas-based Topgolf. Score: 80.79
No. 294 Richardson-based Lennox. Score: 80.22
No. 308 Dallas-based Primoris Services. Score: 79.96
No. 322 Dallas-based Wingstop Restaurants. Score: 79.49
No. 335 Fort Worth-based Omnicell. Score: 78.95
No. 337 Plano-based Cinemark. Score: 78.91
No. 345 Dallas-based Dave & Buster’s. Score: 78.64
No. 349 Dallas-based ATI. Score: 78.44
No. 385 Frisco-based Addus HomeCare. Score: 76.86
No. 414 New Braunfels-based Rush Enterprises. Score: 75.75
No. 431 Dallas-based Comerica Bank. Score: 75.20
No. 439 Austin-based Q2 Software. Score: 74.85
No. 458 San Antonio-based Frost Bank. Score: 73.94
No. 475 Fort Worth-based FirstCash. Score: 73.39
No. 498 Irving-based Nexstar Broadcasting Group. Score: 72.71

Texas ranks as No. 1 most financially distressed state, says new report

Money Woes

Experiencing financial strife is a nightmare of many Americans, but it appears to be a looming reality for Texans, according to a just-released WalletHub study. It names Texas the No. 1 most "financially distressed" state in America.

To determine the states with the most financially distressed residents, WalletHub compared all 50 states across nine metrics in six major categories, such as average credit scores, the share of people with "accounts in distress" (meaning an account that's in forbearance or has deferred payments), the one-year change in bankruptcy filings from March 2024, and search interest indexes for "debt" and "loans."

Joining Texas among the top five most distressed states are Florida (No. 2), Louisiana (No. 3), Nevada (No. 4), and South Carolina (No. 5).

Texas' new ranking as the most financially distressed state in 2025 may be unexpected, WalletHub says, considering the state has a "bigger GDP than most countries" and still has one of the top 10 best economies in the nation (even though that ranking is also lower than it was in previous years).

Even so, Texas residents are stretching themselves very thin financially this year. Texans had the ninth lowest average credit scores nationwide during the first quarter of 2025, the study found, and Texans had the sixth-highest increase in non-business-related bankruptcy filings over the last year, toppling 22 percent.

"Texas also had the third-highest number of accounts in forbearance or with deferred payments per person, and the seventh-highest share of people with these distressed accounts, at 7.1 percent," the report said.

This is where Texas ranked across the study's six key dimensions, where No. 1 means "most distressed:"

No. 5 – "Loans" search interest index rank
No. 6 – Change in bankruptcy filings from March 2024 to March 2025 rank
No. 7 – Average number of accounts in distress rank
No. 8 – People with accounts in distress rank
No. 13 – Credit score rank and “debt” search interest index rank

Examining these financial factors on the state level is important for understanding how Americans are faring with economic issues like inflation, unemployment rates, or natural disasters, according to WalletHub analyst Chip Lupo.

"When you combine data about people delaying payments with other metrics like bankruptcy filings and credit score changes, it paints a good picture of the overall economic trends of a state," Lupo said.

On the other side of the spectrum, states like Hawaii (No. 50), Vermont (No. 49), and Alaska (No. 48) are the least financially distressed states in America.

The top 10 states with the most people in financial distress in 2025 are:

No. 1 – Texas
No. 2 – Florida
No. 3 – Louisiana
No. 4 – Nevada
No. 5 – South Carolina
No. 6 – Oklahoma
No. 7 – North Carolina
No. 8 – Mississippi
No. 9 – Kentucky
No. 10 – Alabama

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A version of this article originally appeared on CultureMap.com.

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