Rice Alliance event identifies 4 most-promising energy tech companies at CERAWeek

startups to watch

CERAWeek attendees identified the four energy tech companies to watch. Photo via Getty Images

Wondering what energy tech companies you should keep an eye on? Wonder no more.

As a part of 2021 CERAWeek by IHS Markit, the Rice Alliance for Technology and Entrepreneurship hosted a virtual pitch competition today featuring 20 companies in four sessions. Each entrepreneur had four minutes to pitch, and then a few more to take questions from industry experts.

"Of the companies here today, we've intentionally selected a diverse group," says Brad Burke, managing director of the Rice Alliance at the start of the event. "They range from companies looking for their seed funding to companies that have raised $20 million or more."

The following companies pitched at the event: Acoustic Wells, ALLY ENERGY, Bluefield Technologies, Cemvita Factory, Connectus Global, Damorphe, Ovopod Ltd., DrillDocs, GreenFire Energy, inerG, Locus Bio-Energy Solutions, Nesh, Pythias Analytics, REVOLUTION Turbine Technologies, Revterra, ROCSOLE, Senslytics, Subsea Micropiles, Syzygy Plasmonics, Transitional Energy, and Universal Subsea.

At the end of each session, attendees voted via Zoom poll on which startup had the most potential. According to the event attendees, the most promising energy tech companies are:

REVOLUTION Turbine Technologies

Asheville, North Carolina-based REVOLUTION Turbine Technologies, an inaugural Greentown Houston member company, is working to "put a green spin on power." The company's micro-Expansion Turbine System produces green power for digital oilfield and pipeline initiatives through the recovery of excess natural gas pressure.

"RTT's technology provides a scalable, clean energy source to reliably power digital oilfield and pipeline initiatives at a significantly low operating cost," says Christopher Bean, founder and CEO, in his presentation. "Never has it been more important to make production and pipeline operations greener, safer, and efficient."

Connectus Global

Connectus Global, based in Calgary, provides custom technology solutions that can increase productivity, profits, and competitiveness. Connectus' Real-Time Location System, or RTLS, uses Ultra-Wide Band for communication and triangulation while hosting a Radio Frequency Identification Device, which come in the form of badges, tags, and receivers.

"In our first year, we received $800,000 in revenue and are on track to hit our numbers — $3.6 million — at the end of this fiscal year," says Mike Anderson, CEO of the company, in his presentation." We have a global white labeling agreement with Honeywell and we make up about 75 percent of their digitized workforce management portfolio."

The company's U.S. office is located in Houston.

DrillDocs

Houston-based DrillDocs has created an automated drilling cuttings characterization service, called CleanSight, that supports an operator's understanding of their wellbore's state of stability and cleanness in real time.

"We're taking computer vision to the drilling rig," says Calvin Holt, CEO and co-founder at DrillDocs, in his presentation. "Now for the first time, drilling and geomechanics teams will have unique, real-time data to ascertain the well's condition."

Revterra

Revterra, a Houston-based company and inaugural Greentown Houston member company, is creating a flywheel energy storage system for long-duration grid-scale applications.

"For those of us in Texas, the power outages we experienced a couple weeks ago are a stark reminder that the stability and the resiliency of our electric grid should be a top priority as we transition to low-emission power sources," says Ben Jawdat, founder and CEO at Revterra, in his presentation. "Energy storage is a critical element in both grid stability and enabling our transition to sustainable energy."

Here's what not to miss at the first all-virtual CERAWeek by IHS Markit. Screenshot via virtual.ceraweek.com

5 can't-miss innovation events at CERAWeek featuring Houston speakers

where to be online

While usually hundreds of energy experts, C-level executives, diplomats, members of royal families, and more descend upon Houston for the the annual CERAWeek by IHS Markit conference, this year will be a little different. Canceled last year due to COVID-19, CERAWeek is returning — completely virtually.

The Agora track is back and focused on innovation within the energy sector. The Agora track's events — thought-provoking panels, intimate pods, and corporate-hosted "houses" — can be accessed through a virtual atrium.

Undoubtedly, many of the panels will have Houston representatives considering Houston's dominance in the industry, but here are five innovation-focused events you can't miss during CERAWeek that feature Houstonians.

Monday — New Horizons for Energy & Climate Research

The COVID-19 pandemic has made vivid and real the risks of an uncontrolled virus. Risks posed by climate change are also becoming more palpable every day. At the forefront of understanding these risks, universities are developing solutions by connecting science, engineering, business, and public policy disciplines. Along with industry and governments, universities are critical to developing affordable and sustainable solutions to meet the world's energy needs and achieve net-zero emission goals. Can the dual challenge of more energy and lower emissions be met? What is some of the most promising energy and climate research at universities? Beyond research, what are the roles and responsibilities of universities in the energy transition?

Featuring: Kenneth B. Medlock, III, James A. Baker, III, and Susan G. Baker Fellow In Energy And Resource Economics, Baker Institute and Senior Director, Center For Energy Studies at Rice University

Catch the panel at 1 pm on Monday, March 1. Learn more.

Tuesday — Conversations in Cleantech: Powering the energy transition

With renewables investment outperforming oil and gas investment for the first time ever in the middle of a pandemic, 2020 was a tipping point in the Energy Transition. Low oil prices intensified energy majors' attention on diversification and expansion into mature and emerging clean technologies such as battery storage, low-carbon hydrogen, and carbon removal technologies. Yet, the magnitude of the Energy Transition challenge requires an acceleration of strategic decisions on the technologies needed to make it happen, policy frameworks to promote public-private partnerships, and innovative investment schemes.

Three Cleantech leaders share their challenges, successes, and lessons learned at the forefront of the Energy Transition. What is their vision and strategy to accelerate lowering emissions and confronting climate change? Can companies develop clear strategies for cleantech investments that balance sustainability goals and corporate returns? What is the value of increasing leadership diversity for energy corporations? Can the Energy Transition be truly transformational without an inclusive workforce and a diverse leadership?

Featuring: Emily Reichert, CEO of Greentown Labs, which is opening a location in Houston this year.

The event takes place at 11:30 am on Tuesday, March 2. Learn more.

Wednesday — Rice Alliance Venture Day at CERAWeek

The Rice Alliance for Technology and Entrepreneurship pitch event will showcase 20 technology companies with new solutions for the energy industry. Each presentation will be followed by questions from a panel of industry experts.

Presenting Companies: Acoustic Wells, ALLY ENERGY, Bluefield Technologies, Cemvita Factory, Connectus Global, Damorphe, Ovopod Ltd., DrillDocs, GreenFire Energy, inerG, Locus Bio-Energy Solutions, Nesh, Pythias Analytics, REVOLUTION Turbine Technologies, Revterra, ROCSOLE, Senslytics, Subsea Micropiles, Syzygy Plasmonics, Transitional Energy, and Universal Subsea.

The event takes place at 9 am on Wednesday, March 3. Learn more.

Thursday — How Will the Energy Innovation Ecosystem Evolve?

Although the cleantech innovation ecosystem—research institutions, entrepreneurs, financiers, and support institutions—is diverse and productive, converting cleantech discoveries and research breakthroughs into commercially viable, transformative energy systems has proven difficult. With incumbent energy systems economically efficient and deeply entrenched, cleantech innovation faces a fundamental dilemma—the scale economies necessary to compete require a large customer base that does not yet exist. How is our clean energy innovation ecosystem equipped to be transformative? What needs to be strengthened? Is it profitable to focus on individual elements, or should we consider the system holistically, and reframe our expectations?

Featuring: Barbara Burger, vice president of innovation at Chevron and president at Chevron Technology Ventures

The event takes place at 7:30 am on Thursday, March 4. Learn more.

Friday — Cities: Managing crises & the future of energy

Houston is the capital of global energy and for the past four decades the home of CERAWeek. Mayor Sylvester Turner will share lessons from the city's experience with the pandemic, discuss leadership strategies during times of crisis, and explore Houston's evolving role in the new map of energy.

The event takes place at 8 am on Friday, March 5. Learn more.

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Houston universities rack up rankings in reports on top schools for entrepreneurship

5 years running

Rice University and the University of Houston have once again scooped up accolades for their entrepreneurship programs.

For the fifth consecutive year, Rice’s Jones Graduate School of Business has been ranked the No. 1 graduate entrepreneurship program by The Princeton Review, a provider of education services, and Entrepreneur magazine.

“Our close ties to Houston as well as national startup ecosystems give our students unique opportunities to pitch to and connect with angel investors, venture capitalists and corporations,” Brad Burke, managing director of the Rice Alliance, says in a news release. “These connections allow for mentorship, as well as launch points for new ideas, not only for our students but also for the city and surrounding communities.”

The list identifies 50 undergraduate and 50 graduate programs that boast the best entrepreneurship offerings based on factors such as coursework, experiential learning opportunities, and career outcomes. The ranking measures more than 40 data points about the schools’ entrepreneurship programs, faculties, students, and alumni.

Also for the fifth consecutive year, the University of Houston’s Cyvia and Melvyn Wolff Center for Entrepreneurship in the C.T. Bauer College of Business has been named the No. 1 undergraduate entrepreneurship program by The Princeton Review and Entrepreneur magazine.

“We believe in entrepreneurship, we believe in free enterprise, and we’re in the number one city for entrepreneurship,” Dave Cook, executive director of the Wolff Center, says in a news release.

“When we put students into this entrepreneurial mix,” he adds, “and we introduce and reinforce free enterprise values, our intent is to change students’ lives and to create the next generation of business leaders with the highest integrity who are going to go out and create their own cultures, their own companies and their own futures.”

The University of Texas at Austin is the only other school in the state to make the top 10 of either the graduate ranking or undergraduate ranking. UT captures the No. 6 spot on the graduate list and No. 2 spot on the undergraduate list.

Aside from The Princeton Review and Entrepreneur honor, Rice climbed four spots in Poets&Quants’ annual ranking of the world’s best MBA programs for entrepreneurship.

Last year, Rice’s graduate school for business landed at No. 7 on the list. This year, it rose to No. 3, behind the first-ranked Olin School of Business at Washington University in St. Louis and second-ranked ESTM Berlin.

This is the fifth annual ranking of MBA programs for entrepreneurship from Poets&Quants, a website that focuses on graduate-level business education.

“MBA programs are increasingly sought after in today’s environment, and our focus on entrepreneurship sets us apart,” Peter Rodriguez, business dean at Rice, says in a news release. “The entrepreneurship classes emphasize a combination of mindset and skill set and focus on multiple stages of the entrepreneurial process, preparing our students for any industry and climate.”

Poets&Quants relies on 16 data points collected through an annual survey to come up with its ranking. Among those data points are:

  • Average percentage of MBA students launching businesses during their program or within three months of graduation between 2018 and 2022.
  • Percentage of MBA elective courses with all of the curriculum focused on entrepreneurship or innovation during the 2022-23 academic year.
  • Percentage of MBA students active in the business school’s main student-run entrepreneurship club during the 2022-23 academic year.
  • Square footage of incubator or accelerator space available to MBA students during the 2022-23 academic year.

America's labor shortage crisis: Local Houston company’s solution for a thriving future

A Brighter Future

The labor shortage crisis gripping America is not isolated to a particular region; it's a challenge that reverberates from coast to coast.

CNN Business projects that this issue could cost the nation a staggering $1 trillion, while the Manufacturing Institute predicts that 2.1 million jobs will go unfilled. To address this pressing concern, a local Houston company called Innovapptive and its connected workforce platform stands as a beacon of hope to improve productivity and capacity, while also upskilling the digital native worker.

Innovapptive is a provider of a “mobile first '' AI-connected workforce SaaS solution to help companies manage labor shortage by empowering front-line workers with digital tools to boost productivity.

The platform’s integrated suite of apps for both the front-line workers and back-office staff closes the loop between people and assets to eliminate inefficiencies. By connecting the front-line workers and back-office with critical information in real time, and harnessing the potential of generative AI and cutting-edge AI/ML technology trends, Innovapptive is enhancing productivity and upskilling workers for some of the world’s largest brands.

Solving the labor shortage by focusing on productivity

The labor shortage crisis has left industries scrambling for solutions. Rather than simply trying to fill the void with more labor, the focus should be on optimizing the existing workforce.

By enhancing the productivity of front-line workers, companies can not only meet the demands of the market but also reduce the need for additional labor. A connected workforce platform can improve the productivity of the front-line workers by 10% to 20% to help companies do more with less.

Empowering front-line workers with real-time connectivity

Innovapptive's connected workforce platform brings front-line workers, back-office, and assets together by providing them with the right information at the right time.

Operators can simply execute their inspections, rounds, and raise issues. These issues automatically convert into an ERP notification and get pushed to a maintenance technician to close out the open compliance issue, while keeping the operator in the loop in real-time. At the same time, the warehouse is alerted in real-time on the work order priorities and criticality to ensure spare part kits are ready for the technician’s pick up.

This effective communication and collaboration between operators, maintenance, and warehouses is a game-changer for asset intensive companies nationwide. Workers can access essential data and insights instantly, leading to smarter decision-making, quicker problem-solving, and improved operational efficiency.

Recently, Sabert, a sustainable packaging company, launched Innovapptive’s solution and is seeing dramatic improvement in productivity. Click here to watch the video.

Harnessing generative AI and cutting-edge AI/ML technology trends to upskill workers

To achieve dramatic productivity improvements upwards of 20%, companies need to leverage the power of generative AI and AI/ML technology trends.

Innovapptive's platform has launched a beta version of its generative AI capabilities, automating the creation of paper-based inspections, SOPs, and work instructions. Furthermore, the company recently launched a computer vision-based AI/ML inspection solution in partnership with Deloitte.

The solution allows an operator or an inspector to simply take an inspection image and the image is instantly analyzed to predict the condition of the equipment, criticality, and use generative AI to describe the problem to their maintenance teams. By converging technology trends such as cloud, mobile, generative AI, and AI/ML, Innovapptive is streamlining processes and eliminating bottlenecks, resulting in substantial productivity gains.

Furthermore, Innovapptive is expected to launch a video AI/ML technology in FY-24 to rapidly upskill workers. This trend allows employees to access on-demand training materials and instructional videos, reducing the learning curve and increasing proficiency. By facilitating continuous learning and development, companies can adapt to changing demands more effectively.

A brighter future for asset-intensive industries

The labor shortage is a nationwide concern that requires a unified approach. Rather than relying solely on more labor, companies can take advantage of Innovapptive's connected workforce platform to empower front-line workers, connect them in real time, capture critical information efficiently, and harness the power of generative AI and cutting-edge AI/ML technology trends.

This holistic approach not only dramatically improves productivity by 10% to 20% but also reduces the need for additional labor. By embracing video AI/ML technology, businesses can rapidly upskill their workers, ensuring they remain agile and adaptable in the face of evolving challenges. Together, we can build a brighter future for American industries and address the labor shortage crisis more effectively.

Some of the world's largest brands rely on Innovapptive's technology, platforms and software, including:

  • Shell Oil
  • Hess
  • Chevron Phillips Chemical
  • Dominion Energy
  • Jemena
  • Loudoun Water
  • Newmont Mining
  • AkzoNobel
  • Pluspetrol
  • EDF Renewables
  • Sabert
  • LiftOne
  • Par Pacific

Innovapptive is headquartered in Houston with offices across the globe in India, Europe, and Asia-Pacific. To learn more and see what Innovapptive can do for your company, visit here.

Houston park opens new facility amid major transformation project

next step

The latest project from a Houston park that's got an ongoing transformation project underway has revealed its latest new feature.

Memorial Park, Houston’s most popular destination for runners and one of the best trails in Texas, has unveiled its new, state-of-art running complex on November 4. The new facility was first announced in 2019 as a part of the park's master plan redevelopment project, which includes the innovative Land Bridge that opened earlier this year.

Encompassing years in planning and constructing, this new complex features the 400-meter Roy H. Cullen Timing Track, a viewing decks, an event plaza, several gathering spaces, trails, and more. More than a simple running track, the complex is designed to be a central gathering spot for all Memorial Park visitors, notes Memorial Park Conservancy executive director Shellye Arnold. The complex will also serve as new gateway to the park’s Bayou Wilds trails.

This new complex is meant to bring more park visitors to multiple areas of the park, Arnold notes, as well as improve track conditions for the thousands who use it, including Houston Astros and Texans players and Olympians. (Olympic legend Carl Lewis is a frequent user.)

“The old timing track in the park is just worn down and not really that accurate, and it has strange turns and corners,” Arnold tells CultureMap. “The running complex is very fitting for the park and for Houston.”

Credit goes to the game-changing Ten-Year Plan, which turned the Memorial Park Master Plan marathon into a sprint with an accelerated set of projects via catalyst gift from the Kinder Foundation and various donors. Partners include the Houston Parks and Recreation Department, Uptown Development Authority, and Kinder Foundation, and the City of Houston Mayor’s Office.

That mean a new experience not just for runners, joggers, and walkers, but all visitors.

“It’s a microcosm of the park, a place where a lot of people go and train at four or five in the morning,” adds Arnold. “But it’s a gathering place in the woods. If you think about Memorial Park, part of the whole experience is being immersed in nature. And so this particular timing track is really much more nature immersive than the old timing track.”

Community access is also a priority, for adults and kids.

“There are a lot of schools in Houston that don’t have access to a high quality track — or a track at all,” Arnold says. “And so now, their runners can come out and use the track. It won’t be used for meets, because we won’t close it off to the public very often at all. But it’s all about accessibility. Any school in Houston that wants to use it will be able to bring their students out and enjoy it.”

So while running may be the draw, really, it’s the complex is yet another chance to enjoy Memorial Park’s 1,500 acres and 25 miles worth of trails.

“There are places to hang out,” says Arnold. “There will be a cafe that will open up nearby in the first half of 2024 and an event plaza that’s also opening that will be a place to gather or just hang out with a group. Those are some of the many of the reasons that we did this. All the things that we do is to build community and foster a sense of connectedness — and this track will do that.”

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This article originally ran on CultureMap.

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