Sassie Duggleby, Margo Jordan, Stephanie Murphy, Emily Cisek and Nina Magon were named to Inc.'s Female Founders 500 list for 2025. Photos courtesy the company's websites and social media pages.

Five Houston female founders have been recognized by Inc. Magazine for their innovations and for leading their industries forward.

The women were named to Inc.'s Female Founders 500 list, which features female entrepreneurs based in the U.S. The group attracted approximately $9 billion in 2024 revenue and $10.6 billion in funding, according to Inc.

“Female founders know what struggle is, but they’re also experts of improvisation, adaptability, and creativity. The women featured on this year’s list exemplify these qualities," Diana Ransom, Inc. executive editor said in a release. "Through times of uncertainty, their unwavering dedication and steadfast leadership are not only inspiring but vital to driving progress.”

The Houston founders are:

  • Emily Cisek, founder of The Postage, now known as Paige, a comprehensive life planning and succession software platform for families and small businesses. The company won the Female-Owned Business category in the 2023 Houston Innovation Awards.
  • Sassie Duggleby, CEO and co-founder of Houston space tech and engine company Venus Aerospace. The company won the in the Deep Tech Business category in the 2024 Houston Innovation Awards. Duggleby also serves on the Texas Space Commission board of directors.
  • Stephanie Murphy, CEO and executive chairman of Aegis Aerospace, which provides space services, spaceflight product development, and engineering services. Murphy also serves on the Texas Aerospace Research and Space Economy Consortium Executive Committee.
  • Margo Jordan, founder of adolescent mental health startup Enrichly, which uses AI-driven self-esteem development and behavioral insights to boost student performance.
  • Nina Magon, founder of Nina Magon Studio / Nina Magon Consumer Products, a residential and commercial interior design company.

"With every family and community we're able to impact through accessible estate planning, we're driven to do even more. Being recognized on Inc.’s Female Founders list is an incredible honor and a testament to the impact we’re making in fintech and beyond," Cisek said in a news release.

Duggleby echoed that sentiment on LinkedIn.

"While I don't know many of the ladies on this list, I do know they're some of the most tenacious role models in entrepreneurship. I'm beyond honored to be included among them," Duggleby added in a post.

Twenty-eight Texas female founders made this list, including Kendra Scott and Allison Ellsworth, co-founder of Poppi, and many others. See the full list of winners here.

The Inc. 5000 list is out — here's how Houston faired this year. Photo by Natalie Harms

Houston boasts impressive presence on annual list of fastest-growing businesses

showing off

One hundred businesses in the Houston area — including the top-ranked company in Texas — have been named to the 2024 Inc. 5000 list of the country’s fastest-growing private companies.

The 2024 Inc. 5000 ranks companies based on their percentage growth in revenue from 2020 to 2023.

Topping the list of Houston-area companies on the list is The Woodlands-based Segment HR, which notched revenue growth of 7,353 percent. That growth rate earned Segment HR the No. 32 spot on the national list and the No. 1 ranking in Texas.

Founded in 2018 by former federal HR specialist Robin Scott, Segment HR specializes in providing HR support for federal agencies. The company employs remote HR specialists in 23 states and the District of Columbia.

Here’s the list of the top 25 Houston-area companies in the 2024 edition of the Inc. 5000, including each company’s headquarters city, growth rate, and national ranking:

  • Segment HR, The Woodlands, 7,353 percent, No. 32
  • Dhanani Private Equity Group, Stafford, 3,617 percent, No. 89
  • Realty.com, Houston 3,052 percent, No. 107
  • Turtlebox Audio, Houston, 1,913 percent, No. 209
  • Amundson Group, Houston, 1,306 percent, No. 332
  • Valiant Business Lending, Houston, 1,286 percent, No. 337
  • Strategic Office Support, Houston, 1,192 percent, No. 367
  • 10xTravel, Houston, 1,102 percent, No. 401
  • NOW Insurance, Houston, 797 percent, No. 559
  • Explore Group, Houston, 796 percent, No. 562
  • Specialty1 Partners, Houston, 728 percent, No. 631
  • FINBOA, Houston, 714 percent, No. 650
  • BroCoTec, Houston, 687 percent, No. 690
  • Elite Roofing, Houston, 675 percent, No. 706
  • Patriot Bolt, Humble, 641 percent, No. 757
  • CT Sounds, Houston, 624 percent, No. 789
  • Supreme Jewelers, Friendswood, 525 percent, No. 965
  • Dometik Commercial Construction, Cypress, 477 percent, No. 1,070
  • Vape City, Houston, 459 percent, No. 1,116
  • Highlands Construction, Houston, 451 percent, No. 1,132
  • Houston Tents and Events, Houston, 438 percent, No. 1,171
  • Goebel Fasteners, Houston, 385 percent, No. 1,340
  • Field Industries, Houston, 376 percent, No. 1,366
  • Coverflex Manufacturing, Houston, 365 percent, No. 1,410

“One of the greatest joys of my job is going through the Inc. 5000 list,” says Mike Hofman, editor-in-chief of Inc. magazine. “To see all of the intriguing and surprising ways that companies are transforming sectors, from health care and AI to apparel and pet food, is fascinating for me as a journalist and storyteller.”

Elsewhere in Texas:

  • Austin-based Maev led the Austin-area pack with a growth rate of 6,734 percent, earning the No. 38 spot on the national list.
  • Dallas-based Archer Review led the Dallas-area pack with a growth rate of 5,771 percent, earning the No. 46 spot on the national list.
  • LaVernia-based Begesh led the San Antonio-area pack with a growth rate of 1,111 percent, earning the No. 396 spot on the national list.
Here's your latest roundup of innovation news you may have missed. Photo via Getty Images

Houston startup scores on TV, medical entrepreneurs land new gigs, and more innovation news

short stories

It's been a busy month so far with plenty of Houston startup news, new hires, and more — and there might be some headlines you may have missed.

In this roundup of short stories within Houston startups and tech, a startup snags investment from two sharks, two medical professionals take on new roles, and more.

Milkify lures in two sharks on TV debut

Berkley Luck and Pedro Silva, the wife and husband team behind Milkify, appeared on Shark Tank. Photo courtesy of Milkify

Milkify, a Houston startup that's created a breastmilk freeze-drying business, appeared on ABC's Shark Tank on April 7 and got two investors to bite. Gwyneth Paltrow and Lori Greiner agreed to a $400,000 convertible note for 20 percent equity in the company.

“It’s a dream team — Lori and Gwyneth — to help us grow this company and help us take it and make it more available to moms," says Berkley Luck, COO and co-founder, on the show.

Luck founded the company with her husband, Pedro Silva, and told InnovationMap the company has freeze-dried and powdered more than half a million ounces of breast milk since founding in 2019.

On the show, the duo explained that some of the customers' employers paid for the process.

“It gives such agency to working moms, it empowers them,” Paltrow says on the show. “I work at a company with so many women and nursing mothers. Breastfeeding really factors in for women. This makes working less of a guilty experience for mothers.”

Coya Therapeutics onboards new C-suite exec

Arun Swaminathan was named chief business officer at Coya Therapeutics. Photo courtesy of Coya

Coya Therapeutics, a clinical-stage biotechnology company with multiple therapeutic platforms, announced Arun Swaminathan will be taking on the role of chief business officer. He will be responsible for new business development partnerships, including licensing opportunities, across the company. Swaminathan has over 20 years of hands-on health care business executive experience.

“Our team is excited to welcome Arun to Coya at such an exciting time in our evolution. We look forward to working with him as we leverage his extensive experience and successful track record in corporate strategy and business development,” says Howard H. Berman, CEO of Coya, in a news release. “This is an opportune time for Arun to join our team on the heels of recent positive data and as we accelerate the clinical development of our biologic and cell therapy Treg immunomodulatory assets. We are confident that Arun’s contributions will prove to be impactful for Coya and our shareholders.”

Prior to Coya, Swaminathan served in the same role for Actinium Pharmaceuticals.

“Coya has an innovative pipeline, and its multiple therapeutic platforms provide a strong base for potential value-creating partnerships,” says Swaminathan in the release. “I look forward to working with Howard and the Coya team to realize the promise of Coya’s portfolio and deliver new therapies for patients.”

INOVUES named to accelerator

Window-retrofitting climatetech company has joined a new startup accelerator. Photo via inovues.com

A Houston company that is retrofitting commercial buildings for energy efficiency has joined a brand new Maryland-based accelerator. INOVUES has been named to the Montgomery County Economic Development Corp.'s inaugural cohort for its Hospitality Tech Accelerator.

The six selected companies are focusing on some of the hospitality industry’s top sustainability challenges, according to a news release, including energy, water, and waste reduction and management. The cohort will be supported by experts in the sustainability, travel, foodservice, and hospitality industries from Growth Advisors International Network and Bethesda Green’s Innovation Lab mentor network, per the release.

“We were particularly impressed by the caliber of applicants for this inaugural program,” says Bill Tompkins, president and CEO of MCEDC, in a statement. “The selected companies have developed innovative solutions that can be implemented today to reduce food and material waste, detect water loss, and provide fast and convenient energy savings through high-performance insulation, AI and machine learning, and smart glass retrofits."

In a recent interview with InnovationMap, founder Anas Al Kassas says commercial building energy efficiency is a major contributor to energy consumption.

“If you look at buildings today, they are the largest energy-consuming sector — more than industrial and more than transportation,” Kassas said in December. “They account for up to 40 percent of energy consumption and carbon emissions.”

3 female founders named to prestigious list

Sarah "Sassie" Duggleby, Ghazal Qureshi, and Robin Scott were named to Inc. magazine's list of female founders. Photos courtesy

Earlier this month, Inc. magazine revealed its list of the top 200 female founders, and three Houston-area women made the cut.

Sarah "Sassie" Duggleby, co-founder and CEO of Venus Aerospace, and Robin Scott, co-founder of CEO of Segment HR, were recognized as trailblazers in male-dominated industries. Ghazal Qureshi, CEO and founder of UpBrainery, was honored on the list of innovators using tech to impact the world.

"These 200 female founders have identified solutions to difficult problems and created valuable, industry-changing companies out of them. We congratulate this year's list on their achievements and look forward to their continued success," says Scott Omelianuk, Inc. editor in chief, in a news release.

The full list is available online and in the April edition of the magazine.

TMC Innovation names cancer program's entrepreneur in residence

TMC has welcomed Dr. Tinashe Chandauka to its innovation team. Photo via TMC.edu

The Texas Medical Center's Innovation Factory has again expanded its team with the addition of another entrepreneur in residence — this time to support the Accelerator for Cancer Therapeutics, or ACT.

Dr. Tinashe Chandauka, according to TMC, is a "life science company builder. He has both a MD and PhD, and has a background in venture capital and business development. Prior to this role, he was director of early pipeline development at Tarsus Pharmaceuticals, an Irvine-based ophthalmology company.

Chandauka joins Zaffer Syed, entrepreneur in residence for medtech, who was announced earlier this year.

Sarah "Sassie" Duggleby of Venus Aerospace joins the Houston Innovators Podcast this week. Photo courtesy of Venus

Female Houston founder on her dream of making high-speed, international travel a reality

HOUSTON INNOVATORS PODCAST EPISODE 181

Sarah "Sassie" Duggleby is on a mission to get people home in time for dinner — whether they are traveling around the world or working for her business. That's why she founded Venus Aerospace, which is developing hypersonic space planes. It's also why she relocated the company from the West Coast to Houston.

"We knew we had to find a location where we could test our engine and still be home for dinner," Duggleby says on this week's episode of the Houston Innovators Podcast. "Our company vision is 'home for dinner.' We want to fly you across the globe and have you home for dinner. And, if you work for us, we want you home for dinner."

Venus's technology enables this revolutionary travel through its supersonic combustion engine — more akin to a rocket's engine than an airplane's — that allows for travel at a higher elevation, she explains on the show. Jet engines rely on air outside of the aircraft to combust, and rocket engines work with a system that supplies air internally. And, as Duggleby explains, the engine can go further with the same amount of fuel, so it's a more sustainable way of traveling too.

"Our ultimate goal is to go with completely carbon-free propellants. There are fuel choices we could make that would be carbon free, but the biggest challenge is continuous operability," she says, explaining that there would then need to be green fuels at whatever airport Venus aircrafts land in to refuel. "You've got to stand up an entirely green ecosystem across the globe. But I think the world would handle that."

The company's developed engine right now works with jet fuel and hydrogen peroxide, a source that can be made without any carbon emissions, she says.

Duggleby founded Venus Aerospace with her husband and CTO Andrew in 2020. The two worked for Virgin Orbit before leaving to start Venus, relocating to Houston in 2021 and setting up shop in a hangar at Ellington Field in the Houston Spaceport. Last year, Venus raised a $20 million series A round.

Once a scrappy team of three people, Venus Aerospace now has almost 100 employees. When thinking about the challenges she's facing, Duggleby says she knows how to navigate the engineering journey the technology faces and she knows they face regulatory obstacles ahead too. Something Duggleby, recently named to Inc. magazine's Female Founders list, is focused on these days — with the pace of growth at the company — is staying true to the company culture she founded since day one.

"There's a constant tension to grow, grow, grow, and build out bigger systems, versus take what you have now and get it really great," she says on the show, recognizing that aerospace work environments tend to have more toxic and competitive cultures. "As important as the technology that we're building is, it's also just as important who we are and how we treat our people."

Duggleby shares more of her story on the podcast, as well as her observations on the space tech industry, Houston's role in the ecosystem, and more. Listen to the interview below — or wherever you stream your podcasts — and subscribe for weekly episodes.


Here's what Houston company scored the No. 2 spot among the fastest-growing private companies in the Southwest. Photo via Getty Images

Houston companies snag spots on regional Inc. 5000 list

by the numbers

Revenue growth is on fire at Houston-based Simple Solar.

Revenue at Simple Solar, a provider of residential solar installations, soared 8,007 percent from 2019 to 2021, putting it at No. 2 among the fastest-growing private companies in the Southwest. It leads the list of 25 Houston-area companies appearing in the new Inc. 5000 Regional rankings for the Southwest.

Between 2019 and 2021, the 165 private companies on the Southwest list posted an average growth rate of 557 percent. In 2021 alone, they added 16,116 jobs and nearly $5.5 billion to the Southwest’s economy.

“This year’s Inc. 5000 Regional winners represent one of the most exceptional and exciting lists of America’s off-the-charts growth companies,” says Scott Omelianuk, editor-in-chief of Inc. magazine. “They’re disruptors and job creators, and all delivered an outsized impact on the economy. Remember their names and follow their lead. These are the companies you’ll be hearing about for years to come.”

Here are the 25 Houston-area companies that made the Inc. 5000 Regional list for the Southwest, including their regional rankings.

  • No. 2 Simple Solar, Houston-based provider of residential solar installations, 8,007 percent growth
  • No. 6 Medical Edge Recruitment, The Woodlands-based health care recruiting and staffing firm, 2,980 percent growth
  • No. 8 Specialty1 Partners, Houston-based provider of surgical support services for dental practices, 2,921 percent growth
  • No. 15 Magnolia-based online women’s clothing retailer Jess Lea, 1,471 percent growth
  • No. 36 Houston-based accounting and advisory firm EFS Group, 458 percent growth
  • No. 39 Blackbuck Resources, Houston-based designer, builder, and operator of water infrastructure for the oil and gas industry, 432 percent growth
  • No. 48 Leveled Concrete, Houston-based provider of concrete and foundation repair services, 298 percent growth
  • No. 52 iCRYO Brands, Houston-based franchisor of cryotherapy centers, 269 percent growth
  • No. 53 TAXA Outdoors, Houston-based retailer of camping trailers, 268 percent growth
  • No. 58 Proxima Clinical Research, Houston-based contract research organization, 243 percent growth
  • No. 64 Ledge, Katy-based seller of in-pool and backyard furniture and accessories, 234 percent growth
  • No. 66 TekRevol, Houston-based software developer, 226 percent growth
  • No. 79 Finish Line Tax Solutions, Houston-based tax relief firm, 194 percent growth
  • No. 82 Incfile, Houston-based provider of services for small businesses, 192 percent growth
  • No. 99 Flocknote, Magnolia-based provider of technology that helps churches boost attendance and foster connections, 152 percent growth
  • No. 125 Onit, Houston-based developer of workflow and AI software, 104 percent
  • No. 137 InterLinc Mortgage, Houston-based mortgage lender, 85 percent growth
  • No. 140 Classy Art, Houston-based supplier of wall décor, 83 percent growth
  • No. 145 Zulie Venture (Cellpay), Sugar Land-based provider of prepaid wireless services, 78 percent growth
  • No. 149 Total Pump Solutions, Houston-based distributor of fire suppression equipment, 75 percent growth
  • No. 155 Construction Concepts, Houston-based commercial construction firm, 67 percent growth
  • No. 157 Energy Ogre, Houston-based service that helps consumers find electricity plans, 63 percent growth
  • No. 164 Garrison Construction Group, Houston-based commercial construction firm, 60 percent growth
  • No. 165 Technocrats Domain, Houston-based provider of IT services, 60 percent growth
  • No. 166, G&A Partners, Houston-based professional employer organization, 60 percent growth
Inc. magazine's 2022 Best in Business list recognizes influential and impactful companies. Photo via Getty Images

3 Houston companies rank among best in biz list

better than all the rest

In the season’s spirit of giving, Inc. magazine has named three Houston companies to its 2022 Best in Business list, recognizing companies that put purpose before profit.

The Houston honorees are:

  • Enchanted Rock, a producer of energy microgrids powered by natural gas and renewable natural gas. In a news release, Thomas McAndrew, the company’s founder and CEO, says the Inc. recognition reflects “the dedication and hard work of our employees who work tirelessly to help our customers keep their power on.”
  • Proxima Clinical Research, a contract research organization for the biotech and medtech sectors. Earlier this year, Proxima appeared on the Inc. 5000 list of the country’s fastest-growing private companies.
  • Smith, a distributor of electronic components and semiconductors. The company has undertaken several humanitarian relief efforts for Ukraine, including the donation of at least $750,000 worth of electronics to Ukrainian citizens.

Inc. says its Best in Business list recognizes “the most dynamic companies of all sizes and industries that have had an outstanding influence on their communities, their industries, the environment, or society as a whole.”

Rather than relying on criteria tied to sales or funding, Inc.’s editors reviewed companies’ achievements over the past year and focused on how they made a positive difference in the world. They then selected honorees in 55 overall categories, and in age-based, revenue-based, size-based, and impact-based categories.

In all, Inc. named 14 Texas companies to this year’s Best in Business list. Aside from the three Houston companies, they are:

  • Austin-based AlertMedia, which produces emergency communication software
  • Austin-based Halcyon, a provider of security technology
  • Austin-based Matterlab, a communications agency
  • Austin-based Pushnami, which offers an advertising and engagement platform
  • Austin-based ZenBusiness, a provider of business products and services
  • Dallas-based Upkeep Aesthetics, a franchiser of medical spas
  • Fort Worth-based TimelyMD, which delivers virtual health and well-being services for students
  • Frisco-based Lexipol, a provider of policy, training, and wellness services for the public safety sector
  • Irving-based Tricolor Holdings, which sells used cars and extends auto loans to underserved Hispanic consumers
  • Plano-based Improving, a provider of tech consulting and training
  • San Antonio-based AmeriVet Veterinary Partners, an operator of veterinary practices
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CultureMap Emails are Awesome

Houston institutions launch Project Metis to position region as global leader in brain health

brain trust

Leaders in Houston's health care and innovation sectors have joined the Center for Houston’s Future to launch an initiative that aims to make the Greater Houston Area "the global leader of brain health."

The multi-year Project Metis, named after the Greek goddess of wisdom and deep thought, will be led by the newly formed Rice Brain Institute, The University of Texas Medical Branch's Moody Brain Health Institute and Memorial Hermann’s comprehensive neurology care department. The initiative comes on the heels of Texas voters overwhelmingly approving a ballot measure to launch the $3 billion, state-funded Dementia Prevention and Research Institute of Texas (DPRIT).

According to organizers, initial plans for Project Metis include:

  • Creating working teams focused on brain health across all life stages, science and medical advances, and innovation and commercialization
  • Developing a regional Brain Health Index to track progress and equity
  • Implanting pilot projects in areas such as clinical care, education and workplace wellness
  • Sharing Houston’s progress and learnings at major international forums, including Davos and the UN General Assembly

The initiative will be chaired by:

  • Founding Chair: Dr. Jochen Reiser, President of UTMB and CEO of the UTMB Health System
  • Project Chair: Amy Dittmar, Howard R. Hughes Provost and Executive Vice President of Rice University
  • Project Chair: Dr. David L. Callender, President and CEO of Memorial Hermann Health System

The leaders will work with David Gow, Center for Houston’s Future president and CEO. Gow is the founder and chairman of Gow Media, InnovationMap's parent company.

“Now is exactly the right time for Project Metis and the Houston-Galveston Region is exactly the right place,” Gow said in a news release. “Texas voters, by approving the state-funded Dementia Prevention Institute, have shown a strong commitment to brain health, as scientific advances continue daily. The initiative aims to harness the Houston’s regions unique strengths: its concentration of leading medical and academic institutions, a vibrant innovation ecosystem, and a history of entrepreneurial leadership in health and life sciences.”

Lime Rock Resources, BP and The University of Texas MD Anderson Cancer Center served as early steering members for Project Metis. HKS, Houston Methodist and the American Psychiatric Association Foundation have also supported the project.

An estimated 460,000 Texans are living with dementia, according to the Alzheimer’s Association, and more than one million caregivers support them.

“Through our work, we see both the immense human toll of brain-related illness and the tremendous potential of early intervention, coordinated care and long-term prevention," Callender added in the release. "That’s why this bold new initiative matters so much."

Texas launches cryptocurrency reserve with $5 million Bitcoin purchase

Money Talks

Texas has launched its new cryptocurrency reserve with a $5 million purchase of Bitcoin as the state continues to embrace the volatile and controversial digital currency.

The Texas Comptroller’s Office confirmed the purchase was made last month as a “placeholder investment” while the office works to contract with a cryptocurrency bank to manage its portfolio.

The purchase is one of the first of its kind by a state government, made during a year where the price of Bitcoin has exploded amid the embrace of the digital currency by President Donald Trump’s administration and the rapid expansion of crypto mines in Texas.

“The Texas Legislature passed a bold mandate to create the nation’s first Strategic Bitcoin Reserve,” acting Comptroller Kelly Hancock wrote in a statement. “Our goal for implementation is simple: build a secure reserve that strengthens the state’s balance sheet. Texas is leading the way once again, and we’re proud to do it.”

The purchase represents half of the $10 million the Legislature appropriated for the strategic reserve during this year’s legislative session, but just a sliver of the state’s $338 billion budget.

However, the purchase is still significant, making Texas the first state to fund a strategic cryptocurrency reserve. Arizona and New Hampshire have also passed laws to create similar strategic funds but have not yet purchased cryptocurrency.

Wisconsin and Michigan made pension fund investments in cryptocurrency last year.

The Comptroller’s office purchased the Bitcoin the morning of Nov. 20 when the price of a single bitcoin was $91,336, according to the Comptroller’s office. As of Friday afternoon, Bitcoin was worth slightly less than the price Texas paid, trading for $89,406.

University of Houston energy economist Ed Hirs questioned the state’s investment, pointing to Bitcoin’s volatility. That makes it a bad investment of taxpayer dollars when compared to more common investments in the stock and bond markets, he said.

“The ordinary mix [in investing] is one that goes away from volatility,” Hirs said. “The goal is to not lose to the market. Once the public decides this really has no intrinsic value, then it will be over, and taxpayers will be left holding the bag.”

The price of Bitcoin is down significantly from an all-time high of $126,080 in early October.

Lee Bratcher, president of the Texas Blockchain Council, argued the state is making a good investment because the price of Bitcoin has trended upward ever since it first launched in early 2009.

“It’s only a 16-year-old asset, so the volatility, both in the up and down direction, will smooth out over time,” Bratcher said. “We still want it to retain some of those volatility characteristics because that’s how we could see those upward moves that will benefit the state’s finances in the future.”

Bratcher said the timing of the state’s investment was shrewd because he believes it is unlikely to be valued this low again.

The investment comes at a time that the crypto industry has found a home in Texas.

Rural counties have become magnets for crypto mines ever since China banned crypto mining in 2021 and Gov. Greg Abbott declared “Texas is open for crypto business” in a post on social media.

The state is home to at least 27 Bitcoin facilities, according to the Texas Blockchain Council, making it the world’s top crypto mining spot. The two largest crypto mining facilities in the world call Texas home.

The industry has also come under criticism as it expands.

Critics point to the industry’s significant energy usage, with crypto mines in the state consuming 2,717 megawatts of power in 2023, according to the comptroller’s office. That is enough electricity to power roughly 680,000 homes.

Crypto mines use large amounts of electricity to run computers that run constantly to produce cryptocurrencies, which are decentralized digital currencies used as alternatives to government-backed traditional currencies.

A 2023 study by energy research and consulting firm Wood Mackenzie commissioned by The New York Times found that Texans’ electric bills had risen nearly 5%, or $1.8 billion per year, due to the increase in demand on the state power grid created by crypto mines.

Residents living near crypto mines have also complained that the amount of job creation promised by the facilities has not materialized and the noise of their operation is a nuisance.

“Texas should be reinvesting Texan’s tax money in things that truly bolster the economy long term, living wage, access to quality healthcare, world class public schools,” said state Sen. Molly Cook, D-Houston, who voted against the creation of the strategic fund. “Instead it feels like they’re almost gambling our money on something that is known to be really volatile and has not shown to be a tide that raises all boats.”

State Sen. Charles Schwertner, R-Georgetown, who authored the bill that created the fund, said at the time it passed that it will allow Texas to “lead and compete in the digital economy.”

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This story was originally published by The Texas Tribune and distributed through a partnership with The Associated Press.

Houston-based HPE wins $931M contract to upgrade military data centers

defense data centers

Hewlett Packard Enterprise (HPE), based in Spring, Texas, which provides AI, cloud, and networking products and services, has received a $931 million contract to modernize data centers run by the federal Defense Information Systems Agency.

HPE says it will supply distributed hybrid multicloud technology to the federal agency, which provides combat support for U.S. troops. The project will feature HPE’s Private Cloud Enterprise and GreenLake offerings. It will allow DISA to scale and accelerate communications, improve AI and data analytics, boost IT efficiencies, reduce costs and more, according to a news release from HPE.

The contract comes after the completion of HPE’s test of distributed hybrid multicloud technology at Defense Information Systems Agency (DISA) data centers in Mechanicsburg, Pennsylvania, and Ogden, Utah. This technology is aimed at managing DISA’s IT infrastructure and resources across public and private clouds through one hybrid multicloud platform, according to Data Center Dynamics.

Fidelma Russo, executive vice president and general manager of hybrid cloud at HPE, said in a news release that the project will enable DISA to “deliver innovative, future-ready managed services to the agencies it supports that are operating across the globe.”

The platform being developed for DISA “is designed to mirror the look and feel of a public cloud, replicating many of the key features” offered by cloud computing businesses such as Amazon Web Services (AWS), Microsoft Azure and Google Cloud Platform, according to The Register.

In the 1990s, DISA consolidated 194 data centers into 16. According to The Register, these are the U.S. military’s most sensitive data centers.

More recently, in 2024, the Fort Meade, Maryland-based agency laid out a five-year strategy to “simplify the network globally with large-scale adoption of command IT environments,” according to Data Center Dynamics.