Ohio startup joins Houston clean tech accelerator

onboarding

Adena Power uses three patented materials to produce a sodium-based battery that delivers clean, safe, long-lasting energy storage. Photo via adenapower.com

A clean energy startup has joined Houston-based Halliburton Labs, an incubator for early-stage energy tech companies.

Adena Power, based in Ohio, uses three patented materials to produce a sodium-based battery that delivers clean, safe, long-lasting energy storage. The startup is trying to capitalize on the 100 terawatt-hour potential for energy storage in the U.S. grid.

“With Halliburton Labs’ support and operational expertise, Adena Power looks to accelerate scaling and take advantage of the high-growth market opportunity,” Nathan Cooley, co-founder and CEO of Adena Power, says in a news release.

Adena, founded in 2022, supplies energy storage batteries for the commercial, industrial, and utility sectors. The startup has collected funding from four investors, according to PitchBook: OhioXcelerate, Third Derivative, BRITE Energy Innovators, and For ClimateTech.

Adena’s addition to Halliburton Labs comes during a momentous year for the company. For example:

  • Adena won the People’s Choice Award at the National Renewable Energy Labs Industry Growth Forum.
  • Adena earned the MAKE IT (Manufacture of Advanced Key Energy Infrastructure Technologies) Prize from the U.S. Department of Energy.

“Our team is ready to collaborate with Adena to help them accelerate their growth to meet the demand for behind-the-meter storage solutions,” says Dale Winger, managing director of Halliburton Labs.

Halliburton Labs is a wholly owned subsidiary of Halliburton, a provider of products and services for the energy industry. The incubator will have pitches at the inaugural Houston Energy and Climate Startup Week next month.

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This article originally ran on EnergyCapital.

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Last year, Roboze announced its American headquarters in Houston. Now the company is announcing something big. Photo courtesy of Roboze

Growing Italian company with U.S. HQ in Houston launches new industrial-scale 3D printing

bigger in texas

An Italian-American manufacturer of 3D parts and printers with its U.S. headquarters in Houston is touting what's billed as a first-of-its-kind innovation — an innovation that's helping drive the need for more local workers.

Roboze recently introduced Roboze Automate, and it's being promoted as the world's first industrial automation system to bring customized 3D printing with super polymers and composites into the production workflow.

"As the need for strong, resilient infrastructure in the U.S. and around the world continues to climb, we are bringing 3D manufacturing to a new level of consistency, repeatability, and process control and production speed," Alessio Lorusso, founder and CEO of Roboze, says in an April 12 news release. "Our components-as-a-service approach is upending error-ridden manufacturing fluctuations and materials shortages to support true industrial-scale 3D manufacturing."

Roboze cranks out 3D-printed parts for customers in industries like aerospace and aviation, energy, oil and gas, transportation, defense, and research. It also sells 3D printers to industrial users. Among its customers are aerospace giant Airbus, appliance manufacturer Bosch, industrial conglomerate GE, defense contractor Leonardo, Pennsylvania State University, consumer electronics titan Sony, the U.S. Army, and the University of Colorado.

Last year, Roboze announced it was establishing its U.S. headquarters in Houston to support its U.S. rollout. The company employs 10 people in the U.S. The local operation, at 7934 Breen Dr. in Northwest Houston, features more than 20 industrial-scale 3D printers.

In February, Roboze said it plans to add 100 employees in the U.S. within the next two years; 30 of those new hires are expected to join the company this spring. The new employees will work in areas such as engineering, sales, and marketing. As of April 13, the Roboze website listed a dozen job openings in Houston and nine in Italy. Around the world, Roboze employs nearly 100 people.

"Houston ranks as one of the top U.S. cities for manufacturing plants and industrial employment, and [is] home to exciting scientific initiatives at the Houston Spaceport and Rice University," Lorusso, who now lives in Houston, said in February.

Tim Neal, CEO of Houston-based GoExpedi, shares how his company plans to scale following its recent series C closing. Photo by Colt Melrose for GoExpedi

With fresh funds, this Houston entrepreneur plans to scale his industrial e-commerce startup

q&a

Consumers are getting more and more used to picking up their laptops or phones and ordering everyday items in just a few clicks or taps — and seeing those items delivered in just a few days. To Tim Neal, CEO of Houston-based GoExpedi, ordering parts and tools for industrial businesses should be just as easy.

GoExpedi, which just closed a $25 million series C round, has seen rising demand for its e-commerce platform focused on industrial orders, and Neal credits this demand on a change in mindset within the industrial sector. Additionally, he says he's seen clients more and more focused on cutting costs.

Neal shared his company's plans for growth and scale, as well as how fundraising during a pandemic went, in an interview with InnovationMap.

InnovationMap: What’s the challenge GoExpedi was founded to change and what’s the game changing element the company provides the industry?

Tim Neal: We really focus on the industrial MRO space. The mission for us is to make procurement of these goods simple and efficient. That means taking out the human process and the back and forth. It's not too dissimilar to how, if I order from Amazon, I have an expectation when that order arrives. The industry has not historically had that. So, we wanted to take a tech-first approach, really make sure people getting these things, but then also track what they're spending to help them more effectively run their business.

IM: What were the early days like?

TN: We're a bootstrap business. We had a drive our pick up trucks 3,000 miles a week, not taking salaries. There was a uphill battle for sure in the beginning because it was a psychological shift. Again, if you look at Amazon going in the bookseller market, people were used to going in a store and getting books. It's similar. People are used to picking up the phone and getting an order done. So we had to really go through an evolutionary process of educating the user on what is the technology and how the technology is actually make their life easier.

IM: What do you attribute GoExpedi's growth to?

TN: I really think it's the change in psychology. And a lot of it is timing too. The labor pool in the oil and gas space in particular — 50 percent of it turn it over. Now you're no longer having these tradesmen who are 60-plus years old and walking encyclopedias. You have a younger workforce that's used to buying on eCommerce and their daily life. So, it's helping them by technical parts in a not technical way. We just had a pool of clients who were more tech native and who had more familiarity with transacting online.

IM: You recently closed a Series C round — what was it like fundraising during a global pandemic following the fall in oil prices?

TN: It's a little weird, cause I'm used to doing road shows — spending four days in San Francisco or New York meeting a bunch of people, rather than sitting in my office on Zoom. So it was a little weird, in that sense that you didn't shake people's hands.

We were in a fortunate position — it's kind of counterintuitive — but we really decoupled from the COVID-energy side where you've got a double whammy, especially in Houston. COVID put people on a remote basis, and then you've got negative oil for the first time ever. But what that did is it really presented this psychological shift in our end user. Companies reduced their traffic 30-plus percent and had to lay off people. They're focusing on cost saving and how do you grab a hold of your business, especially in this work from home environment. And that really resonates with our value proposition. With that, we were able to get a lot of demand of people wanting to have live analytics at their house and see what the net assets are spending. And then we'd be able to get manager reports on benchmark expenditure. We saw a big push in the market there.

IM: How are you enhancing and expanding your technology or team with the funds?

TN: We're seeing massive amount of market demand — folks really being able to fully capture that and start hiring more talent. But, the big focus for us is twofold. One is on our technologies. We have a tool center that really helps bridge the operational transactions at the field level and the management kind of reporting workflows, so really working on our technology, increasing our machine learning and our AI usage, and building out that team. But then on the supply chain side, because we're getting more demand, we want to focus on increasing the efficiency with adding robotics to make sure we can get even more packages out quicker to the market.

IM: Do you plan on expanding into other industries or markets?

TN: We've gotten a ton of demand, and we've been serving some markets to due to demand. We just hired a strategy team and we're making a really concentrated effort to — probably in Q1 — go after some other adjacent industrial markets, because we have a very similar dynamic that buying in terms of corporate structures, demand drivers and value proposition. That's a big focus for us.

IM: Do you already have plans for another round?

TN: We're still very well capitalized now. We weren't out of money, and we still had a large amount of cash from the last round, so this was more an opportunistic approach because we were seeing good market demand that we raised right now to further capture that. I wouldn't be surprised if, in the next 18 to 24 months, we raise again.

IM: What has it meant for y’all to be based in Houston?

TN: I'm from New Jersey, and I always kind of had a different view of Houston until I actually moved here. But, Houston is going to be the third biggest city. It's got a massive labor pool, great universities, and it should be a great breeding ground for talent. The other thing is that, since we started in 2017, I'm seeing a big shift in Houston as a whole, especially from an innovation standpoint — you have Station Houston, The Cannon, and others. You see more entrepreneurial spirit than you've seen in San Francisco and others.

I think the biggest shift that I've seen even the last three years, and especially now with COVID, is where people coming out of college in Houston want to work. I went to Oregon for college — all my friends are in San Francisco pretty much. When we got out of college, I saw people wanting to work for a startup. But in Houston, it was, "I want to work for Oxy or Shell — a big corporate." But that's shifting. We're getting a lot of younger talent that want to work in a startup. They now see that startups work in Houston and that it's a good career path.

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This conversation has been edited for brevity and clarity.

A new venture capital fund based in Houston and Monterrey, Mexico, has raised $50 million to back mobility startups. Hiroshi Watanabe/Getty Images

New Houston-based fund raises $50 million to back mobility startups

Making money

A new venture capital fund has mobility on the mind — and it's just raised $50 million to support startups working on solutions in the mobility or mobility-related industries.

Proeza Ventures, which is based in Houston and Monterrey, Mexico, reportedly closed its first fund Proeza Ventures I. The fund is backed by Grupo Proeza, a Mexican portfolio management company with two global platforms operating in the mobility and agroindustry sectors, according to the fund's website.

"Our mission is to discover and invest in visionary founders building early stage startups transforming the way in which we think about mobility and with whom we can partner to make a more sustainable world," says Rodolfo Dieck, managing director at Proeza Ventures, in a news release.

With the fund's money, Proenza Ventures will invest in 12 to 15 early or growth-stage startups with solutions or new technology within industrial, smart components, new vehicles, MaaS, and digital data services.

"We expect to be writing first time checks in the range of $500,000 and up to $2 million reserving enough capital to support companies in their development trajectory," says Dieck in the release.

Rodolfo Dieck, managing director, (left) and Enrique Marcelo Zambrano, principal, lead the fund. Photo via proezaventures.com

Grupo Proeza comes with a network of experts. The company owns Metalsa, a structural automotive products supplier and current market leader in frames for light trucks in North America, per the release. The subsidiary has more than 60 years of global manufacturing and operating experience within the industry.

The group will use its platform to benefit startups within its portfolio, which already includes Boston-based Indigo Technologies that's developing an in-wheel e-motor and a California-based micro mobility company that is disrupting the scooter ecosystem.

"We back entrepreneurs with an ambitious vision and the grit and operational skills to execute their business plan and transform the sectors they participate in," says Enrique Marcelo Zambrano, principal at P.V., in the release. "We expect to help them leverage our deep expertise in mobility, our unique platform and network."

Houston-based Hitched has dug up new investment money from a local private equity firm. Pexels

Houston-based digital marketplace for industrial equipment raises $5.5 million series A

money moves

A Houston startup that acts as a digital marketplace for industrial equipment in the oil and gas and construction industries closed a sizeable series A financing round this month.

Hitched Inc. raised $5.5 million in its series A funding led by Houston-based Cottonwood Venture Partners, a growth equity firm that focuses on digital tech solutions in the energy industry.

"It is encouraging to see the support and excitement from CVP," Hitched's Founder and CEO Adam Gilles says in a press release. "With this Series A funding, we plan to continue to shake things up in the oil & gas, construction, and industrial industries."

The company, which was founded in 2018, coordinates the rentals — from hosting and chartering to managing them — all on one centralized platform. Hitched has a catalogue of equipment from generators and cranes to light towers, pumps to forklifts, and the site lists out the cost per day of each piece of machinery.

According to the release, Hitched will use the fresh funds to advance its product development and customer experience as it continues "to reinvent the industrial rental marketplace."

"We're delighted to partner with the Hitched team. The industrial rental segment is incredibly opaque and riddled with inefficiencies," says Ryan Gurney, managing partner of CVP, in the news release. "The Hitched platform provides both a transparent marketplace and an important management tool that allows both the renter and rentee to optimize rental inventory."

Cognite is opening two offices in Texas. Getty Images

European software company plans first U.S. office in Houston

New to town

When considering entering the United States market, Francois Laborie, general manager of Cognite North Americas, of course considered some of the obvious cities for a regional headquarters.

"Initially, when we talked about the US, people assumed Silicon Valley or Boston, because we are a traditional software company," Laborie says. "But we really didn't consider too long because the customers we work with require a pretty deep understanding of industry."

The Norway-based company decided to bet on the energy capital of the world and has announced future offices in Houston as well as Austin — both to open by this summer. This will be Cognite's first expansion outside of Northern Europe. The company makes data software for industrial businesses — oil and gas being a huge focus, as is engineering, equipment manufacturing, shipping, and more.

"The industrial world is very siloed and closed, and we are changing a lot of things in that world," Laborie says. "In the digital world, data and information only becomes valuable as you share it. We are all about liberating data, contextualizing it, and then drawing value out of it."

Laborie says the Houston office will be the company's energy hub — both current and prospective clients of Cognite have pressences in town. Meanwhile, Austin will be the tech hub, since the city has a large tech talent pool. Currently, Austin is on the path to be the U.S. headquarters, but nothing is set in stone at the moment, Laborie says.

Cognite, which expects around 50 employees (both new hires and relocations) split between the two locations, already has strategic Houston partnerships in place. Cognite will operate out of Station Houston and even has an internship program and partnership with Rice University. Overall, Laborie says the reception of the city has been positive.

"Houston went above and beyond," Laborie says. "The relationship with Rice has been very interesting because they are working closely with the Houston municipality to transform this image of Houston to get a stronger driver on innovation with the Innovation District, which spoke very loudly to us."

These partnerships are a crucial party of the company, Laborie says, and Cognite plans to work within Houston's innovation ecosystem to continue to push the envelope on innovative technologies.

"We have partnerships with large corporations, but we also see the importance to work with smaller companies to drive innovation — even if they aren't directly related," Laborie says.

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9 can't-miss Houston business and innovation events for April

where to be

Two new conferences will launch while another longtime business competition celebrates its 25th anniversary this month in Houston. Plus, there are networking opportunities, family tech events and more.

Here are the Houston business and innovation events you can't miss in April and how to register. Please note: this article might be updated to add more events.

​Ion Block Party: Art Crawl

Network and socialize with other tech enthusiasts and business-minded individuals while taking in the new gallery at Community Artists’ Collective and experiencing the immersive dome at Omnispace360. See work by Joel Zika, who will showcase his digital sculptures through augmented reality screens, and other public art around the Ion while also enjoying food and drink.

This event is Thursday, April 3, from 4-7 p.m. at the Ion. Click here to register.

​CLA Presents: Raising Capital over Happy Hour

Gain a better understanding of the capital-raising process and various funding opportunities at this educational happy hour. Keith Davidson, the market leader for CLA in Dallas and former CFO of ICS, will present.

This event is Thursday, April 10, from 4-6 p.m. at The Cannon. Click here to register.

Rice Business Plan Competition 

The Rice Alliance for Technology and Entrepreneurship will host the 25th annual Rice Business Plan Competition this month. Forty-two student-led teams from around the world, including one team from Rice, will present their plans before more than 300 angel, venture capital, and corporate investors to compete for more than $1 million in prizes.

This event is April 10-12. Stream the Elevator Pitch Competition and Final Round here.

RSVF Annual Conference

The Rice Student Venture Fund will host its first-ever Annual Conference to celebrate the university's entrepreneurial spirit and the rising generation of student-led innovation. The conference will include live startup demos, an RSVF fund update, a keynote fireside chat, a builder-investor panel and networking. RSVF welcomes students, alumni, investors, faculty and staff, and innovators and community members of the broader tech scene.

This event is Monday, April 14, from 4-8 p.m. at the Ion. Click here to register.

​TEX-E Conference

TEX-E will host its inaugural conference this month under the theme "Energy & Entrepreneurship: Navigating the Future of Climate Tech." The half-day conference will feature a keynote from Artemis Energy Partners CEO Bobby Tudor as well as panels with other energy and tech leaders from NRG, Microsoft, GE Vernova and TEB Tech.

This event is Tuesday, April 15, from 1-4:30 p.m. at the Ion. Click here to register.

Houston Methodist Leadership Speaker Series 

Hear from Dr. Jonathan Rogg, Chief Quality Officer and Vice President of Operations at Houston Methodist Hospital and a a practicing emergency medicine physician, at the latest Houston Methodist Leadership Speaker Series. Rogg will present "Leadership from the Bedside to the Boardroom."

This event is on Wednesday, April 23, from 4:45-6 p.m. at the Ion. Click here to register.

Ion Family STEAM Day– Let's Build a Tripwire Alarm

STEAM on Demand will host a hands-on, family-friendly engineering lesson for young ones on the Ion Forum Stairs. Kids will learn to create and test their own working alarm system. The event is geared toward those ages 7 to 14.

This event is Sunday, April 26, from 10 a.m. to noon at the Ion. Click here to register.

 Greentown Houston Fourth Anniversary Transition On Tap

Climatetech incubator Greentown Labs will celebrate its fourth anniversary with a special edition of its signature networking event, Transition On Tap. Entrepreneurs, investors, students, and friends of climatetech are invited to attend.

This event is Tuesday, April 29, from 5:30-7:30 p.m. at Greentown Labs. Click here to register.

Integrate Space Technology Into Your Small Biz

The SBA Houston District Office and the UH Technology Bridge will host a collaborative event designed to help small businesses leverage space technology for prototype development. Attendees will also hear from industry experts on resources and gain access free technical engineering assistance to help accelerate their businesses.

This event is Wednesday, April 30, from 9:30-11:30 a.m. at UH Technology Bridge Innovation Center. Click here to reserve your spot.

Texas university's innovative 'WaterHub' will dramatically reduce usage by 40%

Sustainable Move

A major advancement in sustainability is coming to one Texas university. A new UT WaterHub at the University of Texas at Austin will be the largest facility of its kind in the U.S. and will transform how the university manages its water resources.

It's designed to work with natural processes instead of against them for water savings of an estimated 40 percent. It's slated for completion in late 2027.

The university has had an active water recovery program since the 1980s. Still, water is becoming an increasing concern in Austin. According to Texas Living Waters, a coalition of conservation groups, Texas loses enough water annually to fill Lady Bird Lake roughly 89 times over.

As Austin continues to expand and face water shortages, the region's water supply faces increased pressure. The UT WaterHub plans to address this challenge by recycling water for campus energy operations, helping preserve water resources for both the university and local communities.

The 9,600-square-foot water treatment facility will use an innovative filtration approach. To reduce reliance on expensive machinery and chemicals, the system uses plants to naturally filter water and gravity to pull it in the direction it needs to go. Used water will be gathered from a new collection point near the Darrell K Royal Texas Memorial Stadium and transported to the WaterHub, located in the heart of the engineering district. The facility's design includes a greenhouse viewable to the public, serving as an interactive learning space.

Beyond water conservation, the facility is designed to protect the university against extreme weather events like winter storms. This new initiative will create a reliable backup water supply while decreasing university water usage, and will even reduce wastewater sent to the city by up to 70 percent.

H2O Innovation, UT’s collaborator in this project, specializes in water solutions, helping organizations manage their water efficiently.

"By combining cutting-edge technology with our innovative financing approach, we’re making it easier for organizations to adopt sustainable water practices that benefit both their bottom line and the environment, paving a step forward in water positivity,” said H2O Innovation president and CEO Frédéric Dugré in a press release.

The university expects significant cost savings with this project, since it won't have to spend as much on buying water from the city or paying fees to dispose of used water. Over the next several years, this could add up to millions of dollars.

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A version of this story originally appeared on our sister site, CultureMap Austin.

Texas female-founded companies raised more than $1 billion in 2024, VC data shows

by the numbers

Female-founded companies in Dallas-Fort Worth may rack up more funding deals and more money than those in Houston. However, Bayou City beats DFW in one key category — but just barely.

Data from PitchBook shows that in the past 16 years, female-founded companies in DFW collected $2.7 billion across 488 deals. By comparison, female-founded companies in the Houston area picked up $1.9 billion in VC through 343 deals.

Yet if you do a little math, you find that Houston ekes out an edge over DFW in per-deal values. During the period covered by the PitchBook data, the value of each of the DFW deals averaged $5.53 million. But at $5,54 million, Houston was just $6,572 ahead of DFW for average deal value.

Not surprisingly, the Austin area clobbered Houston and DFW.

During the period covered by the PitchBook data, female-founded companies in the Austin area hauled in $7.5 billion across 1,114 deals. The average value of an Austin deal: more than $6.7 million.

Historically, funding for female-established companies has lagged behind funding for male-established companies. In 2024, female-founded companies accounted for about one-fourth of all VC deals in the U.S., according to PitchBook.

PitchBook noted that in 2024, female-founded companies raised $38.8 billion, up 27 percent from the previous year, but deal count dropped 13.1 percent, meaning more VC for fewer startups. In Texas, female-founded companies brought in $1.3 billion last year via 151 deals. The total raised is the same as 2023, when Texas female founders got $1.3 billion in capital across 190 deals.

“The VC industry is still trying to find solid footing after its peak in 2021. While some progress was made for female founders in 2024, particularly in exit activity, female founders and investors still face an uphill climb,” says Annemarie Donegan, senior research analyst at PitchBook.

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