The energy industry is finally prioritizing new technology and greener energy — both in light of and in spite of a global pandemic. Photo via Getty Images

In a lot of ways, venture capital firms are tasked with predicting the future. They put money into tech and business services that are going to disrupt the status quo, and energy VCs are tasked with taking bets on the energy transition.

At a virtual event as a part of the 18th annual Rice Alliance Energy Tech Venture Forum, which is taking place online this week, a group of panelists moderated by Sandy Guitar, managing partner at the HX Venture Fund, discussed how the pandemic has affected the energy transition. The group of experts talked about the future of work, decarbonization, and more.

If you missed the event, here are a few key moments from the discussion.

“The role of digitization is going to be huge. The pandemic really exacerbated just how far oil and gas had been behind in that.”

Sean Ebert, partner at Altira. Ebert explains that when times are good for energy companies, it's hard to get the attention of executives to introduce new technologies. Now, corporations are having to invest in tech that allows their employees to be mobile and remote.

“There’s never been a better time to invest in energy technology. … We are at a point where we can get the type of returns [we look for.]”

George Coyle, managing partner at Energy Innovation Capital. Coyle adds that he's seen the pandemic effect major growth opportunities in energy startups in his portfolio.

“What we have is a sense of urgency that didn’t exist 15 years ago. Public companies virtually all have a sustainability report and need to show some sort of progress."

Cory Steffek, managing director at Ara Partners. He adds, "I really think the opportunity in the near term is de-risking software or hardware technologies and showing people that you can construct assets where they can deploy substantial amounts of capital profitably. If you have that, from a returns standpoint, you have something that should generate significant yield."

“The part we have been focused on is how can you make the conventional more efficient, so energy-on-energy conversion is even better.”

Hossam Elbadawy, managing director at SCF Ventures and technology partner at SCF Partners. He's referring to the question of whether to prioritize new low-carbon innovations or to make conventional methods more sustainable. His observation is that the solution is going to be a hybrid of both.

“When we think about the future of work, we think about what are the capabilities going to be required in the future to be able to improve operations in the field today?”

Ricardo Angel, managing director and CEO of PIVA. Angel adds that, "a lot of activities might be replaced by AI," and he and his firm are thinking about how they can go about "developing the skills for the people who will be working with those tools."

On a panel for Houston Climate Week, three energy experts discussed the importance of Houston taking the right steps in the energy transition. Getty Images

Overheard: Experts call for Houston to become the 'energy transition capital of the world'

eavesdropping online

Before the inaugural Houston Climate Week was shutdown — ironically by a major climate event — event attendees heard from a panel of energy experts that spoke of certain challenges the city's economy faces as the energy transition continues.

One of the last events of the programmed week that took place ahead of cancelations due to the threat of Hurricane Laura, was a virtual panel entitled, ENERGY TRANSITION: Making Houston a Global Leader in Energy Innovation. The conversation centered around what Houston is currently doing — and what it still needs to focus on — when it comes to the need to prioritize sustainability in oil and gas and new green alternatives in the greater energy industry.

Here are some of the highlights from the discussion.

“Houston has a spirit of innovation and entrepreneurship. We’ve all heard Houston be called the oil and gas capital of the world, but we’re the energy capital of the world — and we have the opportunity right now to become the energy transition capital of the world. We see that here — we want to be a part of that.”

— Kelsey Hultberg, vice president and chief of staff of Sunnova, a Houston-based residential solar energy company that went public last year.

“When you think about energy 2.0, it’s about what the energy industry look like in the future. In Houston, we are working hard to present ourselves not just as a current global energy leader, but the future energy leader of the world."

— Jose Beceiro, senior director of Energy 2.0 at the Greater Houston Partnership.

"The energy capital of the world has to be engaged and become the energy transition capital of the world."

— Juliana Garaizar, launch director of Greentown Labs - Houston.

“One of the thing we’re really focused on is energy resiliency and reliability. … After Hurricanes Harvey, Irma, and Maria, really fundamentally as an organization as that there is a need for energy reliability.”

— Hultberg says, adding that around a third of the company's solar sales include a battery.

"The oil and gas industry knows it is going to have to hire a whole new workforce going forward that’s much more technical in terms of data analytics, cloud computing, and edge computing. One method you’re seeing these companies try is investing in new types of energy resources. … Another method you’re seeing is these companies forming closer alliances in the tech industry.”

— Beceiro says, adding that these tech companies — like Amazon and Google — have zoomed in on Houston and increased their local presence.

“I really believe that innovation happens at the intersection of things and for that you really need a convening space for that.”

Garaizar says, adding that she hopes Greentown Labs can help provide this convening space.

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CultureMap Emails are Awesome

These are the 10 most promising energy tech startups, according to judges at Rice Alliance forum

best of the best

This week, energy startups pitched virtually for venture capitalists — as well as over 1,000 attendees — as a part of Rice Alliance for Technology and Entrepreneurship's 18th annual Energy and Clean Tech Venture Forum.

At the close of the three-day event, Rice Alliance announced its 10 most-promising energy tech companies. Here's which companies stood out from the rest.

W7energy

Based in Delaware, W7energy has created a zero-emission fuel cell electric vehicle technology supported by PiperION polymers. The startup's founders aim to provide a more reliable green energy that is 33 percent cheaper to make.

"With ion exchange polymer, we can achieve high ionic conductivity while maintaining mechanical strength," the company's website reads. "Because of the platform nature of the chemistry, the chemical and physical properties of the polymer membranes can be tuned to the desired application."

Modumetal

Modumetal, which has its HQ in Washington and an office locally as well, is a nanotechnology company focused on improving industrial materials. The company was founded in 2006 by Christina Lomasney and John Whitaker and developed a patented electrochemical process to produce nanolaminated metal alloys, according to Modumetal's website.

Tri-D Dynamics

San Francisco-based Tri-D Dynamics has developed a suite of smart metal products. The company's Bytepipe product claims to be the world's first smart casing that can collect key information — such as leak detection, temperatures, and diagnostic indicators — from underground and deliver it to workers.

SeekOps

A drone company based in Austin, SeekOps can quickly retrieve and deliver emissions data for its clients with its advance sensor technology. The company, founded in 2017, uses its drone and sensor pairing can help reduce emissions at a low cost.

Akselos

Switzerland-based Akselos has been using digital twin technology since its founding in 2012 to help energy companies analyze their optimization within their infrastructure.

Osperity

Osperity, based in Houston's Galleria area, is a software company that uses artificial intelligence to analyze and monitor industrial operations to translate the observations into strategic intelligence. The technology allows for cost-effective remote monitoring for its clients.

DroneDeploy

DroneDeploy — based in San Francisco and founded in 2013 — has raised over $92 million (according to Crunchbase) for its cloud-based drone mapping and analytics platform. According to the website, DroneDeploy has over 5,000 clients worldwide across oil and gas, construction, and other industries.

HEBI Robotics

Pittsburgh-based HEBI Robotics gives its clients the tools to build custom robotics. Founded 2014, HEBI has clients — such as NASA, Siemens, Ericsson — across industries.

CarbonFree Chemicals

CarbonFree Chemicals, based in San Antonio and founded in 2016, has created a technology to turn carbon emissions to useable solid carbonates.

SensorUp

Canadian Internet of Things company, SensorUp Inc. is a location intelligence platform founded in 2011. The technology specializes in real-time analysis of industrial operations.

"Whether you are working with legacy systems or new sensors, we provide an innovative platform that brings your IoT together for automated operations and processes," the company's website reads.

Amazon unlocks 2 prime brick-and-mortar stores in the Houston area

THAT'S SOME PRIME SHOPPING

The juggernaut that is Amazon considers to rule the universe and expand. Now, local fans of Jeff Bezos' digital behemoth can look forward to two new brick-and-mortar stores in the Houston area.

Amazon announced the opening of two Houston stores on September 18: Amazon 4-star in The Woodlands Mall and Amazon Books in Baybrook Mall.

For the uninitiated, the Amazon 4-star is a new store that carries highly rated products from the top categories across all of Amazon.com — including devices, consumer electronics, kitchen, home, toys, books, games, and more.

As the name implies, all products are rated four stars and above by Amazon customers. Other determinants include the item being a top seller, or if it is new and trending on Amazon.com, according to a press release.

Shoppers can expect fun features such as "Bring Your Own Pumpkin Spice," "Stay Connected Home Tech for Work and Play," "Fresh Off the Screen," and "Trending Around Houston" to discover must-have products. The Woodlands Amazon 4-star (1201 Lake Woodlands Dr.) is the 23rd Amazon 4-star location nationwide.

Meanwhile, shoppers in Baybrook Mall's Amazon Books (1132 Baybrook Mall Dr.) can expect myriad titles rated as customer favorites, whether trending on the site, devices, or listed as customer favorites. Amazon Books in the Baybrook Mall is the 23rd Amazon Books location nationwide.

Books customers can shop cookbooks alongside a highly curated selection of cooking tools, as well as, popular toys, games, and other home items. Amazon Books is open to all: Prime members pay the Amazon.com price in store, and customers who aren't already Prime members can sign up for a free 30-day trial and instantly receive the Amazon.com price in store, according a release.

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This article originally ran on CultureMap.