Houston maritime startup raises $43M to electrify vessels, opens new HQ

Maritime Mission

Fleetzero has raised $43 million to expand the manufacturing of its hybrid and electric marine propulsion system. Photo courtesy Fleetzero

A Houston-based maritime technology company that is working to reduce emissions in the cargo and shipping industry has raised VC funding and opened a new Houston headquarters.

Fleetzero announced that it closed a $43 million Series A financing round this month led by Obvious Ventures with participation from Maersk Growth, Breakthrough Energy Ventures, 8090 Industries, Y Combinator, Shorewind, Benson Capital and others. The funding will go toward expanding manufacturing of its Leviathan hybrid and electric marine propulsion system, according to a news release.

The technology is optimized for high-energy and zero-emission operation of large vessels. It uses EV technology but is built for maritime environments and can be used on new or existing ships with hybrid or all-electric functions, according to Fleetzero's website. The propulsion system was retrofitted and tested on Fleetzero’s test ship, the Pacific Joule, and has been deployed globally on commercial vessels.

Fleetzero is also developing unmanned cargo vessel technology.

"Fleetzero is making robotic ships a reality today. The team is moving us from dirty, dangerous, and expensive to clean, safe, and cost-effective. It's like watching the future today," Andrew Beebe, managing director at Obvious Ventures, said in the news release. "We backed the team because they are mariners and engineers, know the industry deeply, and are scaling with real ships and customers, not just renderings."

Fleetzero also announced that it has opened a new manufacturing and research and development facility, which will serve as the company's new headquarters. The facility features a marine robotics and autonomy lab, a marine propulsion R&D center and a production line with a capacity of 300 megawatt-hours per year. The company reports that it plans to increase production to three gigawatt-hours per year over the next five years.

"Houston has the people who know how to build and operate big hardware–ships, rigs, refineries and power systems," Mike Carter, co-founder and COO of Fleetzero, added in the release. "We're pairing that industrial DNA with modern batteries, autonomy, and software to bring back shipbuilding to the U.S."

---

This article originally appeared on EnergyCapitalHTX.com.

Texas is positioned to be a great state for the EV industry. Photo via Getty Images

How Texas is on the road to becoming a prime state for EVs, according to this expert

guest column

As Texans adopt electric vehicles, significant strides must be made to ensure public charging meets demand. Steps are being made under the National Electric Vehicle Infrastructure Formula Program to address such needs. With new developments promising to bolster the state's infrastructure, it’s only a matter of time until all EV owners will have access to reliable and fast charging options.

NEVI Funding in Texas

Texans will benefit from NEVI funding. This federal initiative is part of a broader effort to enhance EV adoption by providing drivers with a robust and reliable network of fast chargers, particularly along corridors, i.e., highways between Houston, Dallas, Austin, San Antonio, etc. To date, Texas has been busy installing 66 fast-charging ports along those key corridors with much more to come (Electrify News Site). There are multiple phases associated with NEVI, and the first 50 sites outlined by the Texas Electric Vehicle Infrastructure Plan have been completed.

Enhanced Accessibility and Convenience

One of the key aspects of the NEVI-funded stations is their strategic placement in areas previously underserved by existing charging networks. This focus not only addresses range anxiety but also ensures a minimum of four chargers per site with a reliability standard of 97 percent uptime. Such strategic deployment is crucial for supporting the widespread use of electric vehicles, especially in a state as vast as Texas (Electrify News Site).

NACS Compatibility and Adapters: Bridging the Gap

To further support all EV drivers, Tesla has opened their previously closed charging network. This network’s charging system is known as the North American Charging Standard, or NACS. This will allow for other brands to leverage the largest and most reliable charging network in Texas and beyond. Now, just about every manufacturer has opted in to the NACS charging ecosystem. This standard will undoubtedly result in more coverage for all EV drivers and a true standard for the industry. You can see the list of manufacturers that have adopted NACS thus far here.

If you already drive a non-Tesla EV, don’t worry. Many manufacturers have embarked upon developing an adapter for you such as Ford. If you drive a Tesla, your options will remain more or less the same. You’ll not need an adapter with future fast charging stations.

At the end of 2023, there were roughly 19,000 Tesla Superchargers and 15,000 from the entirety of the charging community. Tesla aims to add another 7,500 by the end of 2024 in addition to $7.5B from the federal government to support all other charging initiatives.

This move is particularly beneficial for Texas, where the distances between charging stations can be vast. By enabling access to Tesla's superchargers, drivers can embark on long road trips with the assurance that a fast and reliable charging option is never far away. This increased accessibility will likely spur greater EV adoption, as drivers gain confidence in the state's charging infrastructure.

Charging at Home

The concept of fueling and charging EVs at home offers an exciting paradigm shift. Drivers often have to wait for their cars to approach Empty “E” on their dashboard. Some take it all the way down to the red line (or below) while others begin searching for gas stations once they’ve reached a quarter tank.

With EVs however, the average Houstonian who drives ~30 miles a day now has the potential to begin their day with a full charge. Those who have access to home charging can plug their cars in when they get home from work and typically make up for their daily driving/commute with a standard power outlet which offers a customer anywhere from 30-40 miles of charger over a 12 hour period.

But let’s say you’re a super commuter - someone who drives 75 miles a day or more! Starting off with a full charge every day is almost a necessity, and a standard power outlet may not cut it. Luckily, Level 2 chargers exist and serve as an incredible time and money saver. Like the average commuter, a super commuter can simply plug in a level 2 charger, and the EV will be back to full by the time they wake the next morning (offering anywhere from 20-30 miles of charge per hour). Even those who drive 150+ miles a day can confidently use their EVs as a daily driver if they have a Level 2 charger at home.

Embracing the Future

As we look to the future of transport and energy, the synergy between NEVI and Tesla’s network should create a compelling narrative for those thinking about leasing an EV. Combine that with exciting new battery tech and potential range improvements, fueled by West Texas wind and solar, Texas is positioned to be a great state for the EV industry.

———

Chris George is the United States co-lead at Octopus Electric Vehicles.

This article originally ran on EnergyCapital.

Through increasing awareness, affordability, and accessibility, the city of Houston hopes to grow the number of electric vehicles on Houston roads by 2030. Courtesy of EVolve Houston

Mayor announces major effort to reduce emissions on Houston's roadways

Easy EVs

The city of Houston has taken a major step toward reducing carbon emissions caused by its estimated 1.3 million vehicles that drive the city's streets daily.

Mayor Sylvester Turner announced a new partnership between the government, local businesses, and academic leaders that has created EVolve Houston. The coalition is aimed at boosting electric vehicle sales to 30 percent of new car sales in Houston by 2030.

"This new partnership will help solidify Houston's success as a leader in transportation technology and it will help improve air quality for the citizens of Houston and beyond, by reducing reliance on vehicles powered by carbon-based fuels," Mayor Turner says in a release. "Houston will now have a dedicated resource working to increase the adoption of electric vehicles, wherever it makes sense to do so. Nearly half of the greenhouse gas emissions in Houston come from transportation. Shifting to zero emission forms of transportation is a key strategy to help us meet our ambitious climate goals and improve our regional air quality."

EVolve Houston, which will contribute to the city's Climate Action Plan that was announced in July, will focus on increasing awareness, affordability, and availability of electric vehicles. The coalition's founding partners include the city, CenterPoint Energy, the University of Houston, NRG Energy, Shell, and LDR.

"Houston has bold goals to improve air quality and reduce greenhouse gas emissions. To do that, we must make a major impact on one of the largest sources of emissions, which is transportation" says Dr. Ramanan Krishnamoorti, the chief energy officer at University of Houston.

The partners will focus on launching pilot projects as well as hosting demonstrations and awareness activities to promote EV adoption, according to the release.

"At CenterPoint Energy, we are committed to making a positive difference in the communities we touch, and environmental stewardship is an integral component of our overall corporate responsibility approach," says Scott Prochazka, president and CEO of CenterPoint Energy, in the release. "I am proud to partner with Mayor Turner and other founding members of EVolve Houston to help accelerate clean transportation for Houston."

Ad Placement 300x100
Ad Placement 300x600

CultureMap Emails are Awesome

Property Showcase

Axiom Space wins NASA contract for fifth private mission, lands $350M in financing

ready for takeoff

Editor's note: This story has been updated to include information about Axiom's recent funding.

Axiom Space, a Houston-based space infrastructure company that’s developing the first commercial space station, has forged a deal with NASA to carry out the fifth civilian-staffed mission to the International Space Station.

Axiom Mission 5 is scheduled to launch in January 2027, at the earliest, from NASA’s Kennedy Space Center in Florida. The crew of non-government astronauts is expected to spend up to 14 days docked at the International Space Station (ISS). Various science and research activities will take place during the mission.

The crew for the upcoming mission hasn’t been announced. Previous Axiom missions were commanded by retired NASA astronauts Michael López-Alegría, the company’s chief astronaut, and Peggy Whitson, the company’s vice president of human spaceflight.

“All four previous [Axiom] missions have expanded the global community of space explorers, diversifying scientific investigations in microgravity, and providing significant insight that is benefiting the development of our next-generation space station, Axiom Station,” Jonathan Cirtain, president and CEO of Axiom, said in a news release.

As part of Axiom’s new contract with NASA, Voyager Technologies will provide payload services for Axiom’s fifth mission. Voyager, a defense, national security, and space technology company, recently announced a four-year, $24.5 million contract with NASA’s Johnson Space Center in Houston to provide mission management services for the ISS.

Axiom also announced today, Feb. 12, that it has secured $350 million in a financing round led by Type One Ventures and Qatar Investment Authority.

The company shared in a news release that the funding will support the continued development of its commercial space station, known as Axiom Station, and the production of its Axiom Extravehicular Mobility Unit (AxEMU) under its NASA spacesuit contract.

NASA awarded Axiom a contract in January 2020 to create Axiom Station. The project is currently underway.

"Axiom Space isn’t just building hardware, it’s building the backbone of humanity’s next era in orbit," Tarek Waked, Founding General Partner at Type One Ventures, said in a news release. "Their rare combination of execution, government trust, and global partnerships positions them as the clear successor-architect for life after the ISS. This is how the United States continues to lead in space.”

Houston edtech company closes oversubscribed $3M seed round

fresh funding

Houston-based edtech company TrueLeap Inc. closed an oversubscribed seed round last month.

The $3.3 million round was led by Joe Swinbank Family Limited Partnership, a venture capital firm based in Houston. Gamper Ventures, another Houston firm, also participated with additional strategic partners.

TrueLeap reports that the funding will support the large-scale rollout of its "edge AI, integrated learning systems and last-mile broadband across underserved communities."

“The last mile is where most digital transformation efforts break down,” Sandip Bordoloi, CEO and president of TrueLeap, said in a news release. “TrueLeap was built to operate where bandwidth is limited, power is unreliable, and institutions need real systems—not pilots. This round allows us to scale infrastructure that actually works on the ground.”

True Leap works to address the digital divide in education through its AI-powered education, workforce systems and digital services that are designed for underserved and low-connectivity communities.

The company has created infrastructure in Africa, India and rural America. Just this week, it announced an agreement with the City of Kinshasa in the Democratic Republic of Congo to deploy a digital twin platform for its public education system that will allow provincial leaders to manage enrollment, staffing, infrastructure and performance with live data.

“What sets TrueLeap apart is their infrastructure mindset,” Joe Swinbank, General Partner at Joe Swinbank Family Limited Partnership, added in the news release. “They are building the physical and digital rails that allow entire ecosystems to function. The convergence of edge compute, connectivity, and services makes this a compelling global infrastructure opportunity.”

TrueLeap was founded by Bordoloi and Sunny Zhang and developed out of Born Global Ventures, a Houston venture studio focused on advancing immigrant-founded technology. It closed an oversubscribed pre-seed in 2024.

Texas space co. takes giant step toward lunar excavator deployment

Out of this world

Lunar exploration and development are currently hampered by the fact that the moon is largely devoid of necessary infrastructure, like spaceports. Such amenities need to be constructed remotely by autonomous vehicles, and making effective devices that can survive the harsh lunar surface long enough to complete construction projects is daunting.

Enter San Antonio-based Astroport Space Technologies. Founded in San Antonio in 2020, the company has become a major part of building plans beyond Earth, via its prototype excavator, and in early February, it completed an important field test of its new lunar excavator.

The new excavator is designed to function with California-based Astrolab's Flexible Logistics and Exploration (FLEX) rover, a highly modular vehicle that will perform a variety of functions on the surface of the moon.

In a recent demo, the Astroport prototype excavator successfully integrated with FLEX and proceeded to dig in a simulated lunar surface. The excavator collected an average of 207 lbs (94kg) of regolith (lunar surface dust) in just 3.5 minutes. It will need that speed to move the estimated 3,723 tons (3,378 tonnes) of regolith needed for a lunar spaceport.

After the successful test, both Astroport and Astrolab expressed confidence that the excavator was ready for deployment. "Leading with this successful excavator demo proves that our technology is no longer theoretical—it is operational," said Sam Ximenes, CEO of Astroport.

"This is the first of many implements in development that will turn Astrolab's FLEX rover into the 'Swiss Army Knife' of lunar construction. To meet the infrastructure needs of the emerging lunar economy, we must build the 'Port' before the 'Ship' arrives. By leveraging the FLEX platform, we are providing the Space Force, NASA, and commercial partners with a 'Shovel-Ready' construction capability to secure the lunar high ground."

"We are excited to provide the mobility backbone for Astroport's groundbreaking construction technology," said Jaret Matthews, CEO of Astrolab, in a release. "Astrolab is dedicated to establishing a viable lunar ecosystem. By combining our FLEX rover's versatility with Astroport's civil engineering expertise, we are delivering the essential capabilities required for a sustainable lunar economy."

---

This article originally appeared on CultureMap.com.

View All Listings