Texas delivery company carts out new job opportunity — chief taco officer

taco 'bout a dream job

Favor is hunting for its first-ever chief taco officer. Courtesy of Favor

Do you fancy yourself to be a taco aficionado? If so, you’ll really eat up a new job opening at delivery service Favor.

Owned by San Antonio-based grocery chain H-E-B, Favor is hunting for its first-ever chief taco officer. Yes, a chief taco officer — not to be confused with another type of CTO (chief technology officer).

“The company will pay one energetic, hungry, and social savvy Texan $10,000 to track down the best tacos across the state this summer,” Favor says in a news release.

Aside from the $10,000 in pay, Favor will provide food, accommodations, and transportation in each city, as well as wellness activities such as massages and yoga classes. In addition, the chief taco officer will receive customized Favor swag and one year of free Favor delivery.

“Tacos are one of the top Favored foods across all of the cities we serve throughout Texas,” says Jag Bath, CEO of Favor. “The history and culture behind one of the most iconic foods in the Lone Star State vary from city to city, and we’re excited for our new Chief Taco Officer to discover some of the best and most authentic tacos out there.”

Texas residents over 21 are eligible to apply. Applicants must create and share a short video on why they should be Favor’s chief taco officer, and submit a short form on Favor’s application page. The application deadline is 11:59 pm Thursday, May 12.

Favor’s chief taco officer may want to stock up on digestive aids, given the mass quantity of tacos they’re likely to consume. In 2015, Texas Monthly compiled a list of the 120 Texas tacos “you must eat before you die.” The list highlighted taco purveyors in 15 areas around the state, from Amarillo to Corpus Christi.

By the way, Austin-based outdoor services provider LawnStarter recently crowned Austin the state’s best city for tacos, followed by Round Rock, Dallas, San Antonio, and Houston. But if Favor’s chief taco officer is traversing Texas the entire summer, they’re bound to visit dozens of cities that could argue they deserve the title.

And perhaps Favor’s chief taco officer will do us a favor and crack the shell of Rent.com’s recent ranking of Texas as the No. 2 state for tacos, behind California. Everything’s bigger in Texas, right? That includes our appetite for tacos — and our prowess in producing them.

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This article originally ran on CultureMap.

H-E-B is ringing up a new accolade. Photo courtesy

Equipped with online and in-app ordering, Texas grocer named No. 1 for delivery

DOING MORE

Widely praised for its response to the ongoing pandemic, Texas-based grocery chain H-E-B's cart has once again been filled with kudos.

In a study by market research and mystery shopping firm Ipsos, H-E-B ranked first for grocery delivery among U.S. retailers, with a 99 percent accuracy rate. At No. 2 in the grocery delivery category was Austin-based Whole Foods Market, which achieved a 95 percent accuracy rate.

For the study, mystery shoppers across the country rated various retailers on the quality of their buy-online-pickup-in-store (BOPIS), curbside, and delivery services. Ipsos conducted 150 mystery shops per retailer across these three categories.

"Use of BOPIS and curbside pickup has increased for 78 percent of shoppers since COVID-19 began, and 69 percent expect to continue using it at the same or higher levels after the pandemic subsides," Carlos Aragon, vice president of U.S. channel performance at Ipsos, says in an October 9 release. "As we continue to see the adoption and usage of these new digital offers rise and continue to stick, it is important that brands have the mechanism to ensure they deliver a seamless and safe customer experience for these new users."

To promote social distancing, H-E-B rolled out two-hour delivery in April, eliminating the need for customers to interact.

"With Texans relying on delivery now more than ever, it is our duty to support more of our communities across the state, as quickly as possible," Jag Bath, Favor's CEO and H-E-B's chief digital officer, said in an April release.

To accommodate two-hour delivery for H-E-B customers, Favor undertook a statewide expansion. The grocery chain rolled out its home delivery option in 2018, the same year that H-E-B bought Favor.

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This article originally ran on CultureMap.

Apps like Favor and Instacart can now apply for permits to deliver booze from stores and restaurants straight to your door. Photo courtesy of Favor

Houstonians have access to ordering liquor at their fingertips — thanks to a new Texas law

There's an app for that

It's about to be a lot easier to order your favorite handle of booze straight to your door, thanks to new legislation. The Texas Alcoholic Beverage Commission just began accepting applications for permits enabling services like Favor and Instacart to bring alcohol to your home.

In June, Governor Greg Abbott signed legislation that widens the door for liquor delivery across the Lone Star State. Any third-party company seeking to launch the service can now obtain a so-called consumer delivery permit from TABC. Chris Porter, a TABC spokesman, tells CultureMap that the first permits should be issued during the third week of December — just in time for Christmas Day and New Year's Eve parties.

In a December 5 news release, TABC executive director Bentley Nettles says this law is "an important step forward for Texas consumers, as well as alcohol retailers. For years, Texans across the state have relied on third-party services to deliver everything from clothing to vehicles. Now, at long last, alcohol can be delivered as well."

Before enactment of the law, certain businesses like liquor stores could distribute beer, wine, and liquor in Texas to homes and businesses. But through this year's legislative update, third-party companies now will be permitted to pick up beer, wine, and liquor from a state-licensed retailer such as a bar, restaurant, or liquor store and then take it to customers — either as solo purchases or along with food orders.

"We primarily see this as appealing to third-party delivery services," Porter says. "There are laws on the books which became effective in September that allow restaurants with the proper permit to deliver alcohol along with food on their own. Of course, if these businesses opt instead to contract that delivery to a third party, then the third party would need the new consumer delivery permit."

The new law mandates that drivers and booze buyers be at least 21 years old, which is the legal age for alcohol consumption in Texas.

Among the businesses and organizations that backed the legislation are San Antonio grocery chain H-E-B, which owns the Austin-based Favor delivery app; Instacart; the Houston-based Landry's restaurant conglomerate; e-commerce giant Amazon; TechNet; the Texas Restaurant Association; Beer Alliance of Texas; Wholesale Beer Distributors of Texas; and the California-based Wine Institute.

"This law will allow more businesses to take advantage of on-demand delivery apps that enable them to reach more customers, while ensuring deliveries of alcohol are carried out safely and responsibly," David Edmonson, TechNet's executive director for Texas and the Southeast, said in a June news release.

The Texas Restaurant Association applauds the law as a way for restaurants to better compete in the on-demand economy.

"With customers increasingly craving convenience, and hotels, grocery stores, and package stores already permitted to allow alcohol to be taken or delivered off the premises, this legislation [levels] the playing field for restaurants," the association says in a statement.

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This article originally ran on CultureMap.

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Elon Musk's SpaceX files initial paperwork to sell shares to the public

Incoming IPO

Elon Musk's space exploration company has filed preliminary paperwork to sell shares to the public, according to two sources familiar with the filing, a blockbuster offering that would likely rank as the biggest ever and could make its founder the world's first trillionaire.

A SpaceX IPO promises to be one of the biggest Wall Street events of the year, with several investment banks lining up to help raise tens of billions to fund Musk's ambitions to set up a base on the moon, put datacenters the size of several football fields in orbit and possibly one day send a man to Mars.

The sources spoke on condition of anonymity because they were not authorized to talk publicly about the confidential registration with the Securities and Exchange Commission.

SpaceX did not respond immediately to a request for comment.

Exactly how much SpaceX plans to raise has not been disclosed but the figure is reportedly as much as $75 billion. At that level, the offering would easily eclipse the $29 billion that Saudi Aramco raised in its IPO in 2019.

The offering, coming possibly in June, could value all the shares of SpaceX at $1.5 trillion, nearly double what the company was valued in December when some minority owners sold their stakes, according to research firm Pitchbook, before an acquisition that increased its size.

Musk owns 42% of the SpaceX now, according to Pitchbook, though that figure will change with the IPO when new owners are issued shares. In any case, he is likely to pierce the trillion dollar mark because he is already close. Forbes magazine estimates Musk's net worth at roughly $823 billion.

In addition to making reusable rockets to hurl astronauts and hardware into orbit, SpaceX owns Starlink, the world’s largest satellite communications company. The company also recently brought under its roof two other Musk businesses, social media platform X, formerly Twitter, and artificial intelligence business, xAI, in a controversial transaction because both the seller and the buyer were controlled by him.

SpaceX has become the biggest commercial launch company in its industry, responsible for sending payloads into orbit for customers across the globe, but has also benefited from big taxpayer spending. That has raised conflicts of interest issues given that Musk was the biggest donor to President Donald Trump's campaign and is still a big backer.

In the past five years, SpaceX won $6 billion in contracts from NASA, the Defense Department and other U.S. government agencies, according to USAspending.gov.

Among current SpaceX owners is Donald Trump Jr, the president's oldest son. He owns a shares through 1789 Capital. That venture capital firm made him a partner shortly after his father won the presidency for a second time and has been buying up federal contractors seeking to win taxpayer money ever since.

The White House and Trump himself have repeatedly denied there are any conflicts of interest between his role as president and his family's businesses.

8+ can't-miss Houston business and innovation events in April

where to be

Editor’s note: Houston's weeklong innovation festival kicks off April, followed by Rice University's globally recognized pitch competition returning for its 26th year. Plus, find coworking pop-ups, industry meetups, pitch battles and even a crawfish boil on the calendar. Here’s what not to miss and how to register. Please note: this article might be updated to add more events.

March 30-April 4 — H-Town Roundup

Celebrate innovation, entrepreneurship and collaboration at Houston Exponential's sixth-annual H-Town Roundup. During the free event series, previously known as Houston Tech Rodeo, attendees can expect insightful talks, workshops and networking events at venues across the city.

This event began March 30. Register here.

April 2 — Industrious Coworking Day

Enjoy a complimentary day of cowering at Industrious and network with professionals at the Ion. Breakfast, snacks, wifi and workspace tours are included. Following the cowering day, Industrious will host happy hour at Second Draught from 4-6 p.m.

This event is Thursday, April 2, from 8:30 a.m.-5 p.m. at the Ion. Register here.

April 2 — Technology Summit for Women

The fourth annual Women in Tech Cummil will feature speakers across three core tracks: Transformation + Digital strategy, Cyber + Risk + Resilience, and AI in Practice. Pearl Chu, director of technical domains and university relations at SLB, will give the opening remarks. Other panelists come from CenterPoint Energy, BP, Technip Energies and other leading companies.

This event is Thursday, April 2, from 2-5 p.m. at the Ion. Register here.

April 8 — Veterans Business Battle

Hear pitches from veterans and entrepreneurs as they compete for more than $10 million in investments at Rice Businesses' 12th annual Veterans Business Battle. This year, the two-day event will also feature a Small Business Expo, which invites Houston-based, veteran-owned businesses to participate in education, networking and the opportunity to showcase their business. Moonshots Capital and Mercury Fund will also host a fireside chat.

This event begins Wednesday, April 8, at 11 a.m. at the Ion. Click here to register.

April 9-11 — Rice Business Plan Competition

The Rice Alliance for Technology and Entrepreneurship will host the 26th annual Rice Business Plan Competition this month. Forty-two student-led teams from around the world, including one team from Rice, will present their plans before more than 300 angel, venture capital, and corporate investors to compete for more than $1 million in prizes.

This event begins Thursday, April 9. Find more information here.

April 10 — BioHouston Chili Cookoff

Connect with Houston's life sciences community at BioHouston's 21st annual chili cookout. This event is geared toward startup founders, researchers and industry veterans alike.

This event is Friday, April 10, from noon-4 p.m. at Bayou City Event Center. Register here.

April 14 — Mercury Fund Day at the Ion: Agentic Commerce

Don’t miss the latest installment of Mercury Fund Day at the Ion, previously known as Software Day. The recurring monthly event features office hours (by application), a keynote and networking opportunities. This month's topic focuses on agentic commerce.

This event is Tuesday, April 14, from 3:30-7 p.m. at the Ion. Register here.

April 19 – UH Energy Industry Crawfish Boil

Head to the UH Cullen College of Engineering Green Space for the 35th annual UH Energy Industry Crawfish Boil. The event will include a student showcase, STEM activities, a kids zone, live music, networking and, of course, crawfish. Proceeds from the event will support the multidisciplinary capstone fund that aims to increase professional readiness for Cullen College engineering and technology students.

This event is Sunday, April 19, from 1-5 p.m. at the Cullen College of Engineering Green Space. Find more information here.

April 24 — Rice Business Healthcare Conference

Leading experts, innovators and the next generation of healthcare leaders will converge at the Rice Business Healthcare Conference. Hosted by the Rice Business Healthcare Association, the conference will explore AI's potential impact on the sector.

This event is Friday, April 24, from 8 a.m.-2 p.m. at McNair Hall on Rice University's campus. Find more information here.

Houston unicorn closes $421M to fuel first phase of flagship energy project

Heating Up

Houston geothermal unicorn Fervo Energy has closed $421 million in non-recourse debt financing for the first phase of its flagship Cape Station project in Beaver County, Utah.

Fervo believes Cape Station can meet the needs of surging power demand from data centers, domestic manufacturing and an energy market aiming to use clean and reliable power. According to the company, Cape Station will begin delivering its first power to the grid this year and is expected to reach approximately 100 megwatts of operating capacity by early 2027. Fervo added that it plans to scale to 500 megawatts.

The $421 million financing package includes a $309 million construction-to-term loan, a $61 million tax credit bridge loan, and a $51 million letter of credit facility. The facilities will fund the remaining construction costs for the first phase of Cape Station, and will also support the project’s counterparty credit support requirements.

Coordinating lead arrangers include Barclays, BBVA, HSBC, MUFG, RBC and Société Générale, with additional participation from Bank of America, J.P. Morgan and Sumitomo Mitsui Trust Bank, Limited, New York Branch.

“As demand for firm, clean, affordable power accelerates, EGS (Enhanced Geothermal Systems) is set to become a core energy asset class for infrastructure lenders,” Sean Pollock, managing director, project Finance at RBC Capital Markets, said in a news release. “Fervo is pioneering this step change with Cape Station, a vital contribution to American energy security that RBC is proud to support.”

The oversubscribed financing marks Cape Station’s shift from early-stage and bridge funding to a long-term, non-recourse capital structure, according to the news release.

“Non-recourse financing has historically been considered out of reach for first-of-a-kind projects,” David Ulrey, CFO of Fervo Energy, said in a news release. “Cape Station disrupts that narrative. With proven oil and gas technology paired with AI-enabled drilling and exploration, robust commercial offtake, operational consistency, and an unrelenting focus on health and safety, we have shown that EGS is a highly bankable asset class.”

Fervo continues to be one of the top-funded startups in the Houston area. The company has raised about $1.5 billion prior to the latest $421 million. It also closed a $462 million Series E in December.

According to Axios Pro, Fervo filed for an IPO that would value the company between $2 billion and $3 billion in January.

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This article first appeared on EnergyCapitalHTX.com.

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