Houston SPAC announces merger with Beaumont-based tech company in deal valued at $100M

speaking of spacs

This Houston-based SPAC has announced the tech company it plans to merge with. Photo courtesy of Gow Media

A Houston SPAC, or special purpose acquisition company, has announced the company it plans to merge with in the new year.

Beaumont-based Infrared Cameras Holdings Inc., a provider of thermal imaging platforms, and Houston-based SportsMap Tech Acquisition Corp. (NASDAQ: SMAP), a publicly-traded SPAC with $117 million held in trust, announced their agreement for ICI to IPO via SPAC.

Originally announced in the fall of last year, the blank-check company is led by David Gow, CEO and chairman. Gow is also chairman and CEO of Gow Media, which owns digital media outlets SportsMap, CultureMap, and InnovationMap, as well as the SportsMap Radio Network, ESPN 97.5 and 92.5.

The deal will close in the first half of 2023, according to a news release, and the combined company will be renamed Infrared Cameras Holdings Inc. and will be listed on NASDAQ under a new ticker symbol.

“ICI is extremely excited to partner with David Gow and SportsMap as we continue to deliver our innovative software and hardware solutions," says Gary Strahan, founder and CEO of ICI, in the release. "We believe our software and sensor technology can change the way companies across industries perform predictive maintenance to ensure reliability, environmental integrity, and safety through AI and machine learning.”

Strahan will continue to serve as CEO of the combined company, and Gow will become chairman of the board. The transaction values the combined company at a pre-money equity valuation of $100 million, according to the release, and existing ICI shareholders will roll 100 percent of their equity into the combined company as part of the transaction.

“We believe ICI is poised for strong growth," Gow says in the release. "The company has a strong value proposition, detecting the overheating of equipment in industrial settings. ICI also has assembled a strong management team to execute on the opportunity. We are delighted to combine our SPAC with ICI.”

Founded in 1995, ICI provides infrared and imaging technology — as well as service, training, and equipment repairs — to various businesses and individuals across industries.

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Houston Technology Center founder dies, leaves legacy of innovation

saying goodbye

The Houston innovation ecosystem is mourning the loss of one of its early leaders, Paul Frison, who died on September 5. He was 87.

A long-time Houston businessman, Frison founded the Houston Technology Center in 1999 and served as its CEO and president. The organization evolved into Houston Exponential several years ago. Frison remained active within Houston innovation until 2020.

“Paul Frison was a visionary and energetic leader who always presented a positive outlook on what the Houston technology entrepreneurship community could become," Brad Burke, associate vice president for industry and new ventures at Rice University's Office of Innovation, remembers. "He was one of the pioneers in the community who established the Houston Technology Center as one of the early leaders of the Houston ecosystem. I admired how he helped launch the ecosystem and created the platform for many others to build upon.”

Prior to HTC, he served in various executive roles at American Hospital Supply, LifeMark, ComputerCraft, and LifeCell, spending the last 50 of his years in Houston. Born in Glendale, California, he served in the Unites States Coast Guard.

Blair Garrou, co-founder and managing director of Mercury Fund, says Frison was his first boss and mentor in the tech and entrepreneurship sector.

“When people look back to how the Houston tech community was founded, it starts with Paul Frison," Garrou says. "Paul had run multiple companies and I was lucky to have him as CEO when I worked for him at the Houston Technology Center. He quickly became a mentor, and over time, a good friend and confidant. I have Paul to thank for launching my career in tech and venture capital.

"My favorite quote of Paul’s was, 'Do not confuse effort with results,'” Garrou continues. "Despite his results-driven work ethic – which was legendary — Paul was also deeply-rooted in family and faith, and has been a role model for me over my entire professional life.”

He is preceded in death by his wife, Barbara, and his grandson, Christian David Elders. He is survived by his daughters Maryanne Elders and Jill Cortez and their families, including grandchildren Matthew Elders, Laney Elders, Max Cortez, Jake Cortez, and Sofie Cortez.

A celebration of life will be held for Frison on September 16 at 1 pm at Second Baptist Church, with a reception following in the Deacon’s Parlor. More details are available online. In lieu of flowers, Frison's wishes were for for donations to Second Baptist Church to be made in his honor.

Artist collective brings carbon-absorbing murals to Houston

WHEN FINE ART MEETS FRESH AIR

Anthony Rose, the CEO of creative agency United By Design, is on a mission to brighten Houston’s urban spaces and improve the city’s air quality one carbon-absorbing mural at a time.

Rose originally founded United By Design, or UXD, in 2019 to connect muralists like himself and commercial businesses seeking to beautify their spaces and form brand identities. After creating vibrant murals for Lockhart Elementary School, the Houston Astros, and Smoothie King, Rose expanded UXD’s vision to include environmental sustainability in their artistic collaborations in 2022.

“This city’s vibrant art scene and growing focus on sustainability makes it an ideal location for our projects,” Rose says. “We’re not just creating eco-friendly murals, we’re reimagining how art can actively contribute to environmental solutions.”

In search of ecologically-conscious paints, Rose formed a partnership with Spain-based, natural paint company Graphenstone. Rose says he was drawn to the company’s eponymous Graphenstone coating because of its nontoxic ingredients and exclusively uses the product for UXD’s carbon-absorbing murals.

"Between Land and Sky" by artist David Maldonado was UXD's first carbon-absorbing painting. Photo courtesy of Dario DeLeon and Tommy Valdez

The Graphenstone coating consists of a limestone base which goes through a process called photocatalysis, during which carbon dioxide from the atmosphere is absorbed into the surface, and is then sealed in with graphene, a thin layer of carbon atoms. The murals absorb carbon dioxide throughout the coat’s drying process which typically takes 30 days.

“Each of our murals absorbs about 1600 grams of CO2 during that curing process which is the equivalent daily absorption of about 33 growing trees,” Rose explains.

UXD’s largest carbon-absorbing mural to date is a floor-to-ceiling panorama in downtown Houston’s historic Mellie Esperson building, home to the company’s new creative hub. Painted by Houston-born artist Emily Ding, the mural is a tribute to the establishment’s namesake: an innovative, early 20th century entrepreneur who constructed the opulent building.

"Future's Past" by Emily Ding in partnership with UXD tells the story of the Mellie Esperson building. Photo courtesy of Dario DeLeon

Rose says UXD plans to expand their carbon-absorbing murals project in collaboration with more local artists and establishments, while creating an artist-in-residency program themed around sustainability. Though Rose acknowledges in the grand scheme of carbon pollution these murals are not a silver bullet, he says the non-toxic paints are encouraging conversations about how artists can be conservation-minded.

“We’re trying to figure out how art as a messaging tool can help break down scientific data, a language not many people practice daily, can break down barriers and help bridge the gap to a more intuitive knowledge of sustainability,” Rose says. “We’re bringing the community together, helping them feel empowered, and giving them actionable information to help them live more sustainable lives.”

Houston innovators to know this week

who's who

Editor's note: Every week, I introduce you to a handful of Houston innovators to know recently making headlines with news of innovative technology, investment activity, and more. This week's batch includes a health tech innovator, an investor, and a startup CEO.

Jon Nordby, managing director of Anthropy Partners

Jon Nordby's career has been focused on cultivating a culture for innovation, and now he's focused on human potential technology opportunities. Photo courtesy

In his role overseeing startup accelerators for MassChallenge, Jon Nordby started noticing one industry vertical stood out in terms of success and opportunities: Human potential. Now, Nordby is a founding member of an investment firm looking for those opportunities.

Nordby, who served in various leadership roles at MassChallenge — including managing director and head of ecosystems — said he started realizing the opportunities within the organization's space and sports tech programs.

"What we realized over a couple of years running the program was that sports tech as a theme was too limiting," Nordby says on the Houston Innovators Podcast. "We were finding really great technologies, but we were limited at the market size of teams and leagues to deploy those technologies."

"Over the course of that program, we found that the things that were related more to human health and performance tended to out perform all of the other things related to sports tech — like media, entertainment, gambling," Nordby continues. "Still really great markets for those technologies, but we found a lot more traction for human performance." Read more.

Benjamin Musher, professor at Baylor College of Medicine and medical director of medical oncology at the Duncan Cancer Center McNair Campus

The new center is specifically designed to allow patients to be on the cutting edge of testing brand-new therapies that could save their lives. Photo via BCM

Cancer treatment in Houston just became even more promising — and forward-thinking.

Phase 1 clinical trials are necessary to prove the efficacy in humans of treatments that have appeared promising in lab trials. In the name of cancer-fighting innovation, Baylor College of Medicine’s Dan L. Duncan Comprehensive Cancer Center has launched the Albert and Margaret Alkek Foundation Center for Experimental Therapeutics.

The new center is specifically designed to allow patients to be on the cutting edge of testing brand-new therapies that could save their lives.

“Clinical trials are critical for advancing the field of oncology and improving outcomes for cancer patients. Phase 1 trials are the first step in bringing innovative therapies to the clinic,” says Dr. Benjamin Musher, Barry S. Smith endowed professor at Baylor and medical director of medical oncology at the Duncan Cancer Center McNair Campus, in a news release. “Our new program will build on the success of previous phase 1 trials at Baylor and provide robust infrastructure to offer more clinical trial opportunities to our patients.” Read more.

Mark Semmelbeck, founder and CEO of A Better Meal

A Better Meal — a new app from a Houston founder — gives you all the tools you need to make healthier food choices. Photo courtesy

After many years of living to eat, a large swath of American society is now facilitating a seismic shift to the healthier alternative, eating to live.

But here’s the rub: eating healthy is confusing, time consuming and, unfortunately, oftentimes pricey.

So, anyone that can come in and cut through the healthy eating machine can carve out a necessary niche in the marketplace.

Enter Houstonian Mark Semmelbeck, founder and CEO of A Better Meal, a platform created to help busy families plan healthy meals easier and to make gradual improvements to their health and well-being.

“My vision is to use rapidly expanding AI technology together with the knowledge and wisdom of an active community to take the stress out of meal planning and improving nutrition,” says Semmelbeck, a seasoned oil and gas executive with over 30 years of experience in founding companies. “While developing the technology for the app, my daughter gave me two beautiful grandkids who both have significant food allergies. Combine that with the fact I now have five cardiac stents and the significance of eating well while paying attention to the details has only grown in importance.” Read more.

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