Here's what corporate venture programs are looking for from startups within the energy industry

money moves

At the recent Global Corporate Venture conference, two corporate venture execs peeled back the curtain on what they look for from startups. Getty Images

One of the challenges for Houston energy startups is not knowing what potential big corporate partners want from them. At the recent Global Corporate Venture, two corporate venture execs shared what all they're looking for and the challenges they are facing.

Diana Grauer, director of external technology engagement and venture capital at Technip FMC, and Bradley Andrews, president of digital at Worley joined a panel with moderator Wade Bitaraf, founder of Plug and Play Energy & Sustainability. The panel, entitled "How globalization and diversification can boost a local innovation ecosystem," explored what each exec looks for in potential partnerships with startups.

At TechnipFMC, which has a newer corporate investment group, Grauer says her team looks for startup technologies within four key categories, industry 4.0, digitization, materials and processes, and energy transition. Within those categories, she says they aren't looking for startups that will provide a big return on investment, rather technologies that will advance the company's capabilities.

"We're focused on strategic returns, not necessarily your conventional financial returns," she says.

Andrews echoed this point, admitting that while a big exit for a portfolio company is never bad, but Worley would rather have technologies that benefit their business platform.

"As long as [a technology is] under core strategy and driving internal strategy, we're kind of in," he says. "Anything around data science, automation, new energy, sustainability, those are all kind of sweet spots for us."

A big challenge, Andrews says, is communicating companywide the importance of looking outward for innovative opportunities, rather than relying on the company's staff.

"The idea of corporate tech startups coming to fruition within our industry is kind of new. We used to build from within," Andrews says. "We're still as an industry trying to figure out how to do this."

Grauer says that, similarily, her biggest challenge is getting pushback from within TechnipFMC of people who just think their company should fund its current workforce to find solutions. But Grauer responds to them explaining that the company needs to move faster than that and the way to do that is through working with startups. That's why the company has created an Open Innovation Program. According to Grauer, the organization expects to make its first investment by the end of the year.

For Andrews, the state of Houston's innovation ecosystem is exciting, and he notes that he looks at emerging technologies across industries. A technical solution in medicine might have an application in energy, for example. And, considering the state of the energy industry, now is the time to be more collaborative within Houston as more and more global challenges emerge.

"I think Houston has everything it needs to make a stake in this," Andrews says. "We're not competing with each other in this industry. We're competing against what the world is going to demand from us. It's time for us in corporate land and set our egos aside."

Grauer says she's seen the city's innovation resources grow over the years, noting the emergence of The Cannon, Rice Alliance, and Plug and Play.

"I really think that the energy industry in Houston is really starting to catch up and blossom," she says.

From enlightening talks and conventions to networking opportunities, here's where you need to be in November. Getty Images

10+ can't-miss Houston business and innovation events for November

Where to be

Looking for some help navigating an innovation-filled month in Houston? Look no further.

November is jam packed with Houston business and innovation events — from huge conventions like SpaceCom and Global Corporate Venture taking over downtown on the same days to the Digital Fight Club battling it out in Houston for the first time and The Houston Innovation Summit planning a week of programming.

If you know of innovation-focused events for this month or next, email me at natalie@innovationmap.com with the details and subscribe to our daily newsletter that sends fresh stories straight to your inboxes every morning.

November 5 — Female Founder Luncheon with MassChallenge and HX

Houston is full of entrepreneurial women and this event aims to bring women together and give access to top female entrepreneurs and passionate women in local businesses. They will share their 'why,' their stories, challenges, successes, tips, and answer your burning questions about local entrepreneurship. Join us for a panel and lunch in a closed setting where we discuss what it takes to be a successful female entrepreneur.

Details: The event is from 11 am to 1 pm on Tuesday, November 5, at Houston Exponential (410 Pierce St.). Learn more.

November 6 — Texas Life Science Forum

Rice Alliance's Texas Life Science Forum brings together members from industry, emerging life science companies, academic, and investors. This is the "must attend" event for anyone in the life science industry in Texas or affiliated with innovation at the life science academic institutions.

Details: The event is from 8:30 am to 5 pm on Wednesday, November 6, at BioScience Research Collaborative (6500 Main St.). Learn more.

November 6 — Baker Tilly - Six Figure #Fail

Details: The event is from 11:30 am to 1 pm on Wednesday, November 6, at The Cannon (1336 Brittmoore Road). Learn more.

November 6 — Science First: Changing the Trajectory of Lung Cancer

In honor of Lung Cancer Awareness Month, JLABS sitting down with experts at The Lung Cancer Initiative at Johnson & Johnson and MD Anderson Lung Cancer Moon Shots as well as innovators in the field to present on and create dialogue around the core challenges faced by innovators in the field, new discoveries, emerging technologies, and potential solutions.

Details: The event is from 11 am to 1:30 pm on Wednesday, November 6, at JLabs @ TMC (2450 Holcombe Blvd.). Learn more.

November 7 — TMCx Demo Day: Medical Device 2019

TMCx's annual medical device cohort celebrates the end of another program as the participating entrepreneurs take to the main stage to pitch their solutions. During the event, 16 medical device startups will showcase the progress they have made on their solutions, and what they have planned for the future.

Details: The event is from 1:30 to 8 pm on Thursday, November 7, at TMC Innovation Institute (2450 Holcombe Blvd.). Learn more.

November 8-10 — Second Annual Health Equity Hackathon

CareSet presents the second annual Health Equity Hackathon using newly available data that will help address innovations for the underserved community in the U.S.

Details: The event is from November 8 through 10, at United Way of Greater Houston (50 Waugh Dr.). Learn more.

November 12 — Houston Forum for Equitable Development without Displacement

Rice University is planning to develop 16 acres around Houston's Wheeler Station to create a neighborhood centered around technology, innovation, and entrepreneurship. To demand that the developers sign a Community Benefits Agreement, we are establishing the Houston Coalition for Equitable Development without Displacement (HCEDD). All individuals, community groups, advocacy organizations, and supporting businesses/organizations who are interested in supporting this initiative are invited to attend.

Details: The event is from 6 to 8 pm on Tuesday, November 12, at Wesley AME Church (2209 Emancipation Ave). Learn more.

November 13 — Upstream Venturing + Technology Showcase

In collaboration and partnership with Equinor Technology Ventures, BP Ventures, Shell Ventures, Saudi Aramco Energy Ventures, and Cannon Ventures, hear the latest trends in upstream technology implementation.

Details: The event is from 5 to 8 pm on Wednesday, November 13, at The Cannon (1336 Brittmoore Road). Learn more.

November 14 — TopCoder Innovation Summit

The Topcoder Innovation Summit is the premier innovation event for industry leaders. At the Innovation Summit, you'll have the opportunity to speak with industry leaders, attend panels on innovation and emerging technologies, and meet with the Wipro and Topcoder executive teams.

Details: The event is from 8 am to 4:45 pm on Thursday, November 14, at InterContinental Hotel (6750 Main St.). Learn more.

November 14 — JLABS x UH: Startup Pains: From Academia to Startup (Therapeutics)

JLABS and the University of Houston Technology Bridge present a special installment of Startup Pains, a monthly talk given by entrepreneurs who share their journey of launching a company and overcoming unanticipated obstacles in order to find success in their industry. This month's focus is to arm those contemplating entrepreneurship with a road map for navigating the startup waters, specifically focused on therapeutics.

Details: The event is from 5:30 to 7 pm on Thursday, November 14, at JLabs @ TMC (2450 Holcombe Blvd.). Learn more.

November 15 — Tilting the Grid: How Electricity Companies Will Disrupt

Tilting the Grid is the conference where you can eavesdrop on what the most daring companies in the REP space are doing and discuss what the next "big" thing might be. Ready to learn what big data can reveal about customer behavior? Prepared for a deep dive into the latest customer acquisition trends?

Details: The event is from noon to 5 pm on Friday, November 15, at Whitehall Hotel Houston (1700 Smith St). Learn more.

November 18-24 — The Houston Innovation Summit

For the third year, Houston's innovation ecosystem is taking over the city for a week of events and programming coordinated by Impact Hub Houston. To check out the panels, meetups, and all other programming, click here. Note: Some of the specific events will also appear in this curated list of Houston events.

November 20 — Houston Digital Fight Club

Entrepreneurs and experts are taking the stage — or in this case ring — to battle out their ideas on tech and innovation in Houston. The high energy debate will take place across five fights and networking opportunities. Secure your tickets — it's expected to sell out.

Details: The event is from 6 to 10 pm on Wednesday, November 20, at White Oak Music Hall (2915 N Main St.). Learn more.

November 20 — Inside Billy's Brain: Surgeon, Inventor, Innovator

Join JLABS @ TMC and explore the mind and motivations of Dr. Billy Cohn, the renowned surgeon, inventor and innovator.

Details: The event is from 11:30 am to 1:30 pm on Wednesday, November 20, at JLabs @ TMC (2450 Holcombe Blvd.). Learn more.

November 20-21 — SpaceCom

SpaceCom, America's Commercial Space Conference and Exposition, addresses the strategic issues impacting the commercial space industry that will enable your business to set a clear course to gain a competitive advantage in the coming trillion-dollar space economy. SpaceCom is operating under a Space Act Agreement with NASA. In 2019, the Department of Commerce's Office of Space Commerce and the Department of Energy's Office of Technology Transitions join NASA and the commercial space industry in collaborating on the development of the show.

Details: The event is from Wednesday, November 20, to Thursday, November 21, at the George R. Brown Convention Center (1001 Avenida De Las Americas). Learn more.

November 20-21 — Global Corporate Venture 

Never has the energy industry been more vulnerable to disruption, but as open to change. The world's leading energy and transportation companies are using venture capital to invest in, and help deploy, new technologies and business models that will fundamentally change the way we generate, distribute and use energy.

Details: The event is from Wednesday, November 20, to Thursday, November 21, and takes place at various locations throughout the two-day conference. Learn more.

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Generation Park lands new facility to scale xeno-organ production

Organ innovation

Maryland-based United Therapeutics Corp. has opened a new 77,448-square-foot facility to manufacture xeno-organs in Northeast Houston’s growing biotech hub, Generation Park.

The new Houston location is United Therapeutics’ third Designated Pathogen-Free (DPF) site, named for transplant pioneers Dr. Bartley P. Griffith and Dr. Robert A. Montgomery. The company says the new facility will enable it to scale commercial production of its xeno-organs once they receive regulatory approval.

An existing DPF facility in Virginia is supporting clinical trials for the xeno-organs, and a third site in Minnesota will also focus on commercialization with the Houston site, according to the company.

Xeno-organs are organs taken from a non-human animal source and transplanted, implanted or infused into a human recipient.

Currently, United Therapeutics is advancing clinical trials to support a Biologics License Application with the U.S. Food and Drug Administration for its investigational-stage xenotransplantation, UKidney, UThymoKidney and UHeart products. The products all involve working with the genes from humans and pigs.

In 2025, Chron.com reported the company was working to construct an estimated $96 million facility to breed genetically engineered animals. Head of investor relations at United Therapeutics Dewey Steadman told the Houston Business Journal in 2025 that the pigs’ DNA will be edited. In November 2024, a 53-year-old woman in Alabama received a transplanted kidney from UKidney that had 10 gene edits. She had the transplant removed in April 2025, after her body rejected it.

The Dr. Bartley P. Griffith and Dr. Robert A. Montgomery Xenograft Production Facility requires a “strictly controlled, biosecure barrier environment, including air filtration, filtered water, filtered feed supplies, and state-of-the-art decontamination entryways,” according to the company. Being pathogen-free means it includes calibrated air and water conduits to support the transplantability of xenograft products and to prevent contamination. For energy considerations, the building also features solar arrays.

“With our third xenograft production facility now open and clinical trials underway, United Therapeutics is moving closer to its goal of providing transplantable organs to the people who need them,” Martine Rothblatt, chairperson and CEO of United Therapeutics, said in a news release. “It is fitting that this facility is named for Dr. Griffith and Dr. Montgomery, whose first-in-human surgeries turned xenotransplantation from a theoretical possibility into a clinical reality.”

The facility, which wrapped construction in August, is located at 11848 Common Dock Dr. in Generation Park, which will house manufacturing sites for pharmaceutical heavyweights Bristol Myers Squibb and Eli Lilly. Last fall, Eli Lilly tapped Generation Park for its $6.5 billion manufacturing plant, and Bristol Myers Squibb made a $2.3 billion investment in August to bring its state-of-the-art site to the master-planned commercial district.

Elon Musk's SpaceX reports profit as AI and satellite businesses booms

Booming Business

SpaceX reported a bigger quarterly profit than expected on Tuesday, October 20, as its satellite communications and artificial intelligence businesses boomed.

The company, run by Elon Musk, posted a profit for the three months through September 2026 of $4.4 billion, or 35 cents per share, reversing a year-ago loss and easily topping Wall Street's expectations. Revenue soared to $14.6 billion, up 161%.

On a conference call with analysts, Musk suggested a merger with his electric car company Tesla might be in the works, something that has been rumored for months. He said both companies formed “special committees” of independent directors to discuss the issue, though he played down the chances of an imminent deal.

“Some people out there assume that a SpaceX and Tesla merger is a certainty,” he said. “I think that would be overstating it.”

The AI business became SpaceX's largest by revenue in the third quarter, although the Starlink satellite service remains the biggest profit generator.

“They beat across all metrics and the Starlink business looks to be accelerating,” said Dan Ives, an analyst at Yorkville Ives. “This is just what (Wall) Street wanted.”

The stock rose 7.5% in after-hours trading.

Musk also told analysts that for next month's launch of its Starship rocket, SpaceX will attempt to grab both the booster and ship with mechanical arms upon return to base, a key step toward demonstrating it can reuse the massive spacecraft.

“The only way that we can extend consciousness beyond Earth on a sustained basis is with a fully reusable orbital launch vehicle,” Musk said, calling the attempt, if successful, “a massive technology milestone.”

SpaceX hopes to get Starship on a regular launch pattern in preparation for NASA's upcoming lunar missions.

The company already has huge contracts with the federal government, and House Democrats have called for investigations into those contracts and Musk’s work with the Department of Government Efficiency. Musk has spent $276 million since July in support of Republican candidates.

In a filing for its initial public offering in June, SpaceX warned that a change in control of Congress could have a “material and adverse impact on our growth and competitive position.”

Musk recently drew criticism from politicians in Washington after speeds for a military version of SpaceX's satellite communications service were slowed for Ukraine following President Donald Trump's deal to get more diesel oil from Russia amid a push to end the war. The Wall Street Journal reported Tuesday that it was Musk who ordered the slowdown, impeding Ukraine’s use of drones along the front. SpaceX did not immediately respond to an Associated Press request for comment on the Journal story.

Both Trump and Musk have denied responsibility for the slowdown.

As midterm elections near, Musk on Monday promised to give one share of SpaceX to “every kid in America” next year, though he provided no details on how the distribution would be carried out. With communities nationwide protesting the construction of large data centers and concerns about AI safety, AI companies are trying to build goodwill. Anthropic pledged to commit 5% of its shares to a new “public benefit” fund.

SpaceX shares have been under pressure over concerns that the company was spending too much on major projects to compete with rivals such as Anthropic. The company said capital expenditures totaled $19.6 billion last quarter, nearly triple the figure from a year earlier, and it forecast spending would grow to $35 billion to $40 billion in the current quarter.

Shares of SpaceX closed Tuesday at $147.79, down from a peak near $201 after its IPO, which made Musk the world’s first trillionaire at the time. But the share prices for SpaceX and Tesla have since dropped, reducing his net worth to $925 billion, according to Forbes magazine.

Tesla reports third-quarter financial results Wednesday. Last week, Tesla unveiled a new Roadster sports car that in some versions may include thrusters allowing it to briefly fly using SpaceX technology — though experts say anything usable for drivers is a long shot.

These 5 trailblazing Houston startups are leading the energy transition

meet the finalists

Houston is home to a growing number of startups reshaping what it means to be called the "Energy Capital of the World."

As part of the 2026 Houston Innovation Awards, our Energy Transition Business category honors those innovative startups that are providing solutions within renewables, climatetech, clean energy, alternative materials, circular economy and more.

Five clean energy startups have been named finalists for the 2026 award. The finalists, selected by our esteemed panel of judges, range from a lower-emission steel producer to a diagnostics platform developer working to support batteries used in data centers.

Read more about these innovative businesses, their initiatives, and their inspirational founders below. The 2026 winners will be announced on InnovationMap.com in mid-November.

Capwell Services

Methane capture company Capwell Services works to eliminate vented oil and gas emissions economically for operators. According to the company, methane emissions are vented from most oil and gas facilities due to safety protocols, and operators are not able to capture the gas cost-effectively, leading operators to emit more than 14 million metric tons of methane per year in the U.S. and Canada. Founded in 2022, Capwell specializes in low and intermittent flow vents for methane capture.

The company began as a University of Pennsylvania senior design project led by CEO Andrew Lane. It has since participated in programs with Greentown Labs, the Rice Clean Energy Accelerator and the Creative Destruction Lab Energy Cohort at Texas A&M University. The company moved to Houston in 2023 and raised a pre-seed round. It deployed two commercial units this year, according to its application.

FlowCellutions

Energytech startup FlowCellutions is developing a chemistry-agnostic diagnostics platform for flow and metal-air batteries supporting data centers and critical infrastructure. The platform is designed to help reduce operating costs, prevent failures and costly downtime, and extend battery lifetime from approximately seven years to more than 30 years. It has deployed four paid pilots and plans to take insights from the programs to develop its next-gen sensor platform technology.

CEO Becca Segel founded the company in 2022. It is a member of Greentown Labs, and Segel was a 2025 Activate Fellow. The company has raised over $2 million in non-dilutive funding and received a $1.5 million NSF SBIR Fast-Track award earlier this year.

Hertha Metals

Hertha Metals produces lower-cost, lower-emission steel and high-purity iron. The company has developed a single-step process that uses natural gas as a direct reductant instead of metallurgical coal, which cuts production costs by more than 25 percent and emissions by up to 50 percent, according to the company. The same process produces high-purity iron needed for high-purity steels and rare earth magnets. The company says it aims to "re-industrialize America’s production of critical materials."

Hertha Metals was founded by CEO Laureen Meroueh in 2022 and emerged from stealth last year with more than $17 million in venture capital funding. The company closed a $133.65 million Series A this month and also broke ground on its $100M high-purity iron factory known as Chalyx in Conroe.

Mars Materials

Clean chemical manufacturing business Mars Materials is working to convert captured carbon into resources, such as carbon fiber and wastewater treatment chemicals. The company develops and produces its drop-in chemical products in Houston and uses an in-licensed process for the National Renewable Energy Lab to produce acrylonitrile, which is used to produce plastics, synthetic fibers, and rubbers.

Founded in 2019 by CEO Aaron Fitzgerald, CTO Kristian Gubsch, and vice president of operations Trey Sheridan, the company has secured over $7.2M in financing and is backed by Bill Gates’ Breakthrough Energy, Shell, Black & Veatch, and other organizations. It won in the Minority-founded Business Category in last year's Houston Innovation Awards.

Solidec

Chemical manufacturing company Solidec has developed autonomous generators that extract molecules from water and air and convert them into pure chemicals and fuels that are free of carbon emissions on-site, eliminating the need for transport, storage, and permitting. The company was founded around innovations developed by Rice University associate professor Haotian Wang.

The company was selected for the Chevron Technology Ventures’ Catalyst Program, Greentown Labs, NSF I-Corps and was part of the first cohort of the Activate Houston program. It won first place at the 2024 startup pitch competition at CERAWeek. Solidec was founded in 2023 by Wang, who serves as an advisor, CEO Ryan DuChanois, and CTO Yang Xia. It closed a $2.5 million seed round in 2025.

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