Houston energy company launches program focused on renewables and green hydrogen

seeing green

EDP Renewables has launched its second iteration of its clean energy innovation program. Photo courtesy of EDP

EDP Renewables, whose North American division is based in Houston, has launched the second module of its Energy Starter 2022 program.

EDP Renewables launched the first module in May; it dealt with the future of energy distribution. Applications for startups seeking to join the second module are being accepted until September 30. The second module focuses on innovations in renewable energy and green hydrogen.

Next year, the third and final modules will focus on decarbonization.

Companies selected for the second module will attend a bootcamp in Houston where they, in partnership with EDP Renewables experts, will develop their ideas and work on pilot projects. After the current four-phase edition of the program ends, startups will be able to test their innovations in the U.S., Brazil, Portugal, or Spain.

During the six editions of Energy Starter, the more than 150 participating startups have sealed over 80 deals, including equity investments and pilot projects. The most recent edition of Energy Starter attracted over 700 applicants.

Earlier this year, EDP Ventures, the venture capital arm of EDP Renewables North America’s parent company, pledged to double its investments in startups pursuing energy transition technology and services.

EDP Ventures says its VC commitment is climbing from 45 million euros (about $45 million) already invested in the past decade to a total of 100 million euros by 2025. EDP Ventures plans to allocate as much as 10 million euros per startup.

“As the electricity sector moves at unprecedented speed, we want to work with the most promising startups, with a clear focus on projects that represent growth opportunities. The coming years will be challenging for the energy transition, and we want to face them with the best ideas on a global level,” says Ana Paula Marques, CEO of EDP Spain, a subsidiary of Lisbon, Portugal-based energy company EDP Group.

Houston-based EDP Renewables North America is part of Madrid, Spain-based EDP Renewables, the world’s fourth largest producer of renewable energy. It’s investing 1 billion euros in innovation efforts by 2025. EDP Group is the majority shareholder of EDP Renewables.

The Houston division builds, owns, and operates wind farms and solar parks throughout North America. EDP Renewables North America oversees 58 wind farms and nine solar parks.

Among the nine solar parks is the $280 million, 240-megawatt Cattlemen Solar Park in Milam County, between the Austin metro area and Bryan-College Station. The park is scheduled to start generating electricity next year. Meta, the parent company of Facebook, recently signed a long-term, 156-megawatt power deal with EDP Renewables North America.

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Houston startups dominate ‘most-promising’ companies announcement at annual event

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Rice University played host this week to the 12th annual Texas Life Science Forum, where life science leaders and startup founders could network, learn and present pitches on their solutions to a wide array of health-related issues.

Hosted by Rice Alliance for Technology and Entrepreneurship and BioHouston on November 7, the event brought together more than 600 attendees for a series of keynote speakers and panels. This year, 45 early-stage therapeutic, diagnostic, medical device and digital health companies—many of which are based in Houston—also pitched their concepts.

Fort Worth-based AyuVis Research walked away from the event with the two top recognitions: The Michael E. DeBakey Memorial Life Science Award and the People's Choice Award. The company, which has developed a small molecule immunotherapy targeting bronchopulmonary dysplasia (BPD) in preterm neonates and other respiratory disorders. The company is raising a $20 million Series A round to support its clinical development and is slated to pitch at IGNITE Health’s Fire Pitch 2023 today, November 9, at the Ion.

Each year the Rice Alliance and BioHouston also name its 10 most promising life science companies, selected by investors—seven out of 10 of which are based in Houston. This year's selection included the following companies, in alphabetical order:

  • 7 Hills Pharma: This Houston-based clinical stage immunotherapy company has developed the concept of allosteric activation of integrins to facilitate cell adhesion and promote immune responses. The concept has uses in preventing infection and cancer, and increasing the effectiveness of oncology drugs and infectious disease vaccines.
  • Bairitone Health: This Houston-based company is building a scalable diagnostic system for sleep apnea anatomy utilizing home-use wearable, passive Sonar technology and AI techniques.
  • Diakonos Oncology: Also based in Houston, Diakonos' Dendritic Cell Vaccine was awarded the FDA’s Fast Track designation. The clinical-stage biotech company's immunotherapies have shown early successes for hard-to-reach, aggressive cancers like Glioblastoma Multiforme.
  • Mongoose Bio: With more than 20 years of research, Mongoose specializes in T cell-based therapies for diverse solid tumors TCR-based therapies in cancer patients. The Houston-based company has developed an immunopeptidome discovery platform for TCR-based therapies in cancer patients.
  • Nandi Life Sciences: Nandi is developing antibodies for Avastin-resistant ovarian cancer, with
  • further application in breast, colorectal and lung cancer. The company is based out of Texas Medical Center Innovation.
  • NKILT Therapeutics: This Houston-based company's seed-stage cell therapy has applications in solid tumors, such as colorectal cancer, ovarian cancer, clear cell renal carcinoma, endometrial
  • cancer and more. It is developing a novel and proprietary Chimeric ILT-Receptor.
  • NuVision Biotherapies: Based in the United Kingdom, NuVision has developed and proven a treatment for dry eye disease. It's known for its Omnigen and OmniLenz products and is raising a series A to scale, take the business to profitability and exit.
  • Panakeia Technologies: Also based in the UK, Panakeia has developed an AI-based software that can provide multi-omic biomarkers in minutes. Currently this process takes days or weeks. It's RuO platform can identify 4,500 known multi-omics cancer markers.
  • Taurus Vascular: A recent spin-out of the Texas Medical Center Innovation Biodesign program, Taurus is developing a novel, catheter-based solution for treating endoleaks, which can be related to aortic aneurysms.
  • YAP Therapeutics: The only California-based company to make the cut, this preclinical-stage biotech develops genetic medicines that leverage the company’s tissue renewal and regeneration platform to reverse and cure severe diseases, including heart failure, pulmonary diseases, retinal degeneration and hearing loss.

Last year, Bairitone Health took home the DeBakey and People's Choice awards.

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

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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 expert shares strategies for addressing  potential workforce shortages

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The energy industry, a vital part of Houston’s business ecosystem, faces the challenge of a shrinking workforce.

A U.S. Chamber of Commerce report indicates the workforce has nearly two million fewer workers today as compared to February 2020. A considerable part of this decline can be attributed to retirement and early retirement rates, with the pandemic prompting three million people to early retirement. Furthermore, with an estimated 10,000 Baby Boomers turning 65 daily, the entire generation is expected to reach retirement age by 2030.

The tight labor market, coupled with the growing brain drain associated with retirement rates, should serve as a wake-up call for employers in the energy sector. There are tried-and-true strategies to prepare businesses for waves of retirement and ensure the knowledge does not walk out the door.

Upskilling: Invest in the workforce

Knowledge and skills go with workers are they retire. To mitigate the brain drain, companies need to invest in upskilling their existing employees and new hires. Establishing formal training and development opportunities can help enrich the workforce to pick up the responsibilities of retiring colleagues. This investment ensures a smooth transition, shows employees they are valued by the organization, and increases employee loyalty and engagement.

Adopting innovative training programs that cater to the specific needs of the energy sector is one approach. Technologies rapidly evolve, and employees must stay current to remain effective in their roles. Investing in the latest training programs, workshops and certifications will enable the workforce to thrive in a rapidly changing industry.

Mentoring programs: Pass the torch

Mentorship programs can play a pivotal role as more employees retire. Experienced employees nearing retirement can mentor younger workers, transferring knowledge and skills while ensuring a seamless transition of expertise. The value of mentorship programs can be priceless for an organization as they help transfer on-the-job learning and experiences that are not taught in the classroom.

A structured mentorship program usually proves most effective as it outlines the responsibilities of the mentors and mentees. A structured approach, which should have built-in accountability measures, ensures there is a productive knowledge transfer process.

Intentional recruitment: Attract and retain talent

A proactive recruitment approach is essential as businesses work to fill knowledge gaps. Companies in the energy sector should seek out talent to bridge the generational divide. This may include targeting candidates who have the relevant skills and knowledge, yet they are willing to adapt to the industry’s changing landscape.

Workplace culture is still a relevant and important component of attracting and retaining top-notch talent. Beyond competitive compensations packages, today’s job candidates look for growth opportunities and a focus on work-life balance.

Retaining knowledge: Document the expertise

Institutional knowledge will walk out the door as experienced employees retire. Companies can prepare for and mitigate the knowledge migration with knowledge-sharing systems and comprehensive documentation processes. An established process can help preserve information that may seem like second nature to more experienced employees and make it accessible to current and future employees. Asking retiring employees to document their expertise and best practices can safeguard their insights within the organization.

Covering bases: Create an alumni network

Retirement does not always mean the employee wants to hang up their proverbial hat entirely. Filling the knowledge gap as employees retire can be daunting. However, the development of an alumni network can extend the life of the institutional knowledge and knowledge-sharing process. Bringing back retirees on a project basis or to consult is a solution benefiting everyone involved.

Every industry must prepare for the impending wave of retirements. The energy industry’s significant impact on the Houston economy requires proactive and thoughtful solutions. The tight labor market and retirement rates should have businesses in this sector working diligently to fill the upcoming knowledge gaps through upskilling, mentoring, intentional recruitment, knowledge-sharing systems and alumni networks. Taking these steps now, the energy industry can circumnavigate workforce shortages and prepare for continued success.

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Jill Chapman is a director of early talent programs with Insperity, a leading provider of human resources and business performance solutions. This article originally ran on EnergyCapital.

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