These five minority-founded businesses stood out to the judges for the 2025 Houston Innovation Awards. Photo via marsmaterials.tech

Houston is one of the most diverse cities in the nation, and that trend carries over into its innovation and startup ecosystem.

As part of the 2025 Houston Innovation Awards, our Minority-founded Businesses category will honor an innovative Houston startup founded or co-founded by BIPOC or LGBTQ+ representation.

Five minority-founded businesses have been named finalists for the 2025 award. The finalists, selected by our esteemed panel of judges, range from a wearable health tech device company to a clean chemical manufacturing business to a startup with a lunar mission.

Read more about these innovative businesses, their initiatives, and their inspirational founders below. Then join us at the Houston Innovation Awards on Nov. 13 at Greentown Labs, when the winner will be unveiled at our live awards ceremony.

Tickets are on now for this exclusive event celebrating all things Houston Innovation.

Capwell Services

Houston-based methane capture company Capwell Services works to eliminate vented oil and gas emissions economically for operators. According to the company, methane emissions are vented from most oil and gas facilities due to safety protocols, and operators are not able to capture the gas cost-effectively, leading operators to emit more than 14 million metric tons of methane per year in the US and Canada, equivalent to more than 400 million metric tons of CO2e per year. Founded in 2022, Capwell specializes in low and intermittent flow vents for methane capture.

The company began as a University of Pennsylvania senior design project led by current CEO Andrew Lane. It has since participated in programs with Greentown Labs and Rice Clean Energy Accelerator. The company moved to Houston in 2023 and raised a pre-seed round. It has also received federal funding from the DOE. Capwell is currently piloting its commercial unit with oil and gas operators.

Deep Anchor Solutions

Offshore energy consulting and design company Deep Anchor Solutions aims to help expedite the adoption of floating offshore energy infrastructure with its deeply embedded ring anchor (DERA) technology. According to the company, its patented DERA system can be installed quietly without heavy-lift vessels, reducing anchor-related costs by up to 75 percent and lifecycle CO2 emissions by up to 80 percent.

The company was founded in 2023 by current CEO Junho Lee and CTO Charles Aubeny. Lee earned his Ph.D. in geotechnical engineering from Texas A&M University, where Aubeny is a professor of civil and environmental engineering. The company has not raised VC funding, but has participated in numerous accelerators and incubators, including Greentown Labs, MassChallenge, EnergyTechNexus LiftOff and others. Lee is an Activate 2025 fellow.

Mars Materials

Clean chemical manufacturing business Mars Materials is working to convert captured carbon into resources, such as carbon fiber and wastewater treatment chemicals. The company develops and produces its drop-in chemical products in Houston and uses an in-licensed process for the National Renewable Energy Lab to produce acrylonitrile, which is used to produce plastics, synthetic fibers and rubbers. The company reports that it plans to open its first commercial plant in the next 18 months.

Founded in 2019 by CEO Aaron Fitzgerald, CTO Kristian Gubsch and lead engineer Trey Sheridan, the company has raised just under $1 million in capital and is backed by Bill Gates’ Breakthrough Energy, Shell, Black & Veatch and other organizations.

Torres Orbital Mining (TOM)

Space tech company Torres Orbital Mining aims to pioneer the sustainable extraction and processing of lunar regolith, and designs and builds robotic systems for excavating, classifying, and delivering lunar material. The company aims to accelerate a permanent and ethical human presence on the Moon.

The company was founded this year by Luis Torres, a current MBA candidate at Rice Business.

Wellysis USA Inc.

Wellysis USA Inc. works to detect heart rhythm disorders with its continuous ECG/EKG monitor with AI reporting. Its S-Patch cardiac monitor is designed for extended testing periods of up to 14 days on a single battery charge. The device weighs only 9 grams, is waterproof and designed to be comfortable to wear, and is considered to have a high detection rate for arrhythmias. It is ideally suited for patient-centric clinical trials to help physicians make diagnoses faster, cheaper and more conveniently.

It was established in Houston in 2023 and participated in the JLABS SFF Program the same year. It closed a $12 million series B last year. It was founded by CEO Young Juhn, CTO Rick Kim, CFO JungSoo Kim and chief strategy officer JoongWoo Kim.

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The Houston Innovation Awards program is sponsored by Houston City College Northwest, Houston Powder Coaters, FLIGHT by Yuengling, and more to be announced soon. For sponsorship opportunities, please contact sales@innovationmap.com.

Meet the finalists for the Houston Innovation Awards, taking place Nov. 13. Graphic via Gow Media

Announcing the 2025 Houston Innovation Awards finalists

Inspirational Innovators

InnovationMap is proud to reveal the finalists for the 2025 Houston Innovation Awards.

Taking place on November 13 at Greentown Labs, the fifth annual Houston Innovation Awards will honor the best of Houston's innovation ecosystem, including startups, entrepreneurs, mentors, and more.

This year's finalists were determined by our esteemed panel of judges, comprised of past award winners and InnovationMap editorial leadership.

The panel reviewed nominee applications across 10 prestigious categories to determine our finalists. They will select the winner for each category, except for Startup of the Year, which will be chosen by the public via online voting launching later this month.

We'll announce our 2025 Trailblazer Award recipient in the coming weeks, and then we'll unveil the rest of this year's winners live at our awards ceremony.

Get to know all of our finalists in more detail through editorial spotlights leading up to the big event. Then, join us on November 13 as we unveil the winners and celebrate all things Houston innovation. Tickets are on sale now — secure yours today.

Without further ado, here are the 2025 Houston Innovation Awards finalists:

Minority-founded Business

Honoring an innovative startup founded or co-founded by BIPOC or LGBTQ+ representation:

  • Capwell Services
  • Deep Anchor Solutions
  • Mars Materials
  • Torres Orbital Mining (TOM)
  • Wellysis USA

Female-founded Business

Honoring an innovative startup founded or co-founded by a woman. Presented by Houston Powder Coaters:

  • Anning Corporation
  • Bairitone Health
  • Brain Haven
  • FlowCare
  • March Biosciences
  • TrialClinIQ

Energy Transition Business

Honoring an innovative startup providing a solution within renewables, climatetech, clean energy, alternative materials, circular economy and beyond:

  • Anning Corporation
  • Capwell Services
  • Deep Anchor Solutions
  • Eclipse Energy
  • Loop Bioproducts
  • Mars Materials
  • Solidec

Health Tech Business

Honoring an innovative startup within the health and medical technology sectors:

  • Bairitone Health
  • Corveus Medical
  • FibroBiologics
  • Koda Health
  • NanoEar
  • Wellysis USA

Deep Tech Business

Honoring an innovative startup providing technology solutions based on substantial scientific or engineering challenges, including those in the AI, robotics and space sectors:

  • ARIX Technologies
  • Little Place Labs
  • Newfound Materials
  • Paladin Drones
  • Persona AI
  • Tempest Droneworx

Startup of the Year (People's Choice)

Honoring a startup celebrating a recent milestone or success. The winner will be selected by the community via an online voting experience:

  • Eclipse Energy
  • FlowCare
  • MyoStep
  • Persona AI
  • Rheom Materials
  • Solidec

Scaleup of the Year

Honoring an innovative later-stage startup that's recently reached a significant milestone in company growth:

  • Coya Therapeutics
  • Fervo Energy
  • Koda Health
  • Mati Carbon
  • Molecule
  • Utility Global

Incubator/Accelerator of the Year

Honoring a local incubator or accelerator that is championing and fueling the growth of Houston startups:

  • Activate
  • Energy Tech Nexus
  • Greentown Labs
  • Healthtech Accelerator (TMCi)
  • Impact Hub Houston

Mentor of the Year

Honoring an individual who dedicates their time and expertise to guide and support budding entrepreneurs. Presented by Houston City College Northwest:

  • Anil Shetty, Inform AI
  • Jason Ethier, EnergyTech Nexus
  • Jeremy Pitts, Activate
  • Joe Alapat, Liongard
  • Neal Dikeman, Energy Transition Ventures
  • Nisha Desai, Intention

Trailblazer Recipient

  • To be announced
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The Houston Innovation Awards program is sponsored by Houston City College Northwest, Houston Powder Coaters, FLIGHT by Yuengling, and more to be announced soon. For sponsorship opportunities, please contact sales@innovationmap.com.

Here's what Houston startups and innovators will be honored at the Houston Innovation Awards on November 14. Graphic via Gow Media

Top innovators: 2024 Houston Innovation Awards finalists revealed

best of the rest

After nearly 300 nominations, InnovationMap and its group of judges are ready to reveal the finalists for this year's Houston Innovation Awards.

Taking place on Thursday, November 14, the Houston Innovation Awards celebrates all of Houston's innovation ecosystem — startups, entrepreneurs, investors, mentors, and more. Over 50 finalists will be recognized in particular for their achievements across 13 categories, which includes the 2024 Trailblazer Legacy Awards that were announced earlier this month.

Scroll down to see the 2024 Houston Innovation Awards finalists.

This year, 35 startups, 14 individuals, and six organizations will all be recognized, and winners will be named at the event. The finalists were decided by this year's judges after they reviewed over 130 applications.

If you are interested in sponsorship opportunities, please reach out to sales@innovationmap.com. If you have questions about the Houston Innovation Awards, email awards@innovationmap.com.

Minority-founded business category, honoring an innovative startup founded or co-founded by BIPOC or LGBTQ+ representation

  • CLS Wind, a large-capacity, lower cost wind turbine self-erecting solution for the wind energy industry
  • Corrolytics, a technology startup founded to solve microbiologically influenced corrosion problems for industrial assets
  • Gold H2, a startup that's transforming depleted oil fields into hydrogen-producing assets utilizing existing infrastructure
  • Nap Bar, a white-glove, eco-friendly rest sanctuary offering luxury sleep suites integrated with virtual reality experiences, designed for professionals, entrepreneurs, and travelers to rest, recharge, and rejuvenate
  • Speakerbox Media, a B2B video agency that turns experts into thought leaders with engaging webinars and video podcasts, providing end-to-end content strategy and production.

Female-founded business category, honoring an innovative startup founded or co-founded by a woman

  • Dauntless XR, a developer of extended reality software
  • EveryDopeGirl, a community building an interracial and intergenerational culture of support amongst women globally
  • Koda Health, provider of a tech-enabled care coordination service for improving serious illness care planning
  • March Biosciences, a clinical-stage cell therapy company with a mission to transform patient care in the most challenging hematological malignancies
  • nVenue, machine learning and AI technology provider that generates and delivers real-time odds and predictive analytics to sportsbooks and media

Energy transition business category, honoring an innovative startup providing a solution within renewables, climatetech, clean energy, alternative materials, circular economy, and beyond

  • Amperon, an AI platform powering the smart grid of the future
  • ARIX Technologies, an integrated robotics and data analytics company that delivers inspection services through its robotics platforms
  • Elementium Materials, a battery technology with liquid electrolyte solutions
  • InnoVent Renewables, a startup with proprietary continuous pyrolysis technology that converts waste tires, plastics, and biomass into valuable fuels and chemicals
  • Sage Geosystems, an energy company focused on developing and deploying advanced geothermal technologies to provide reliable power and sustainable energy storage solutions regardless of geography
  • Tierra Climate, a software provider that helps grid-scale batteries reduce carbon emissions

Health tech business category, honoring an innovative startup within the health and medical technology

  • Allterum Therapeutics, a biopharmaceutical company creating a treatment for cancer
  • Bairitone Health, an AI-driven, sonar-based diagnostic imaging technology platform
  • Ictero Medical, a medical device company developing the first minimally-invasive cryoablation solution to treat gallstone disease
  • InformAI, a technology company dedicated to advancing healthcare through the development of AI-driven solutions in radiology, oncology and transplant surgery
  • Koda Health, provider of a tech-enabled care coordination service for improving serious illness care planning
  • March Biosciences, a clinical-stage cell therapy company with a mission to transform patient care in the most challenging hematological malignancies

AI/data science business category, honoring an innovative startup utilizing artificial intelligence and data science within a tech solution

  • ARIX Technologies, an integrated robotics and data analytics company that delivers inspection services through its robotics platforms
  • Cognitive Space, an automated satellite operations provider that enables constellations to scale
  • Enovate Ai, a provider of business and operational process optimization for decarbonization and energy independence
  • nVenue, machine learning and AI technology provider that generates and delivers real-time odds and predictive analytics to sportsbooks and media
  • Voyager Portal, a software platform that helps commodity traders and manufacturers in the O&G, chemicals, agriculture, mining, and project cargo sectors optimize the voyage management lifecycle

Deep tech business category, honoring an innovative startup providing technology solutions based on substantial scientific or engineering challenges

  • FluxWorks, developer and manufacturer of magnetic gears and magnetic gear-integrated motors
  • Gold H2, a startup that's transforming depleted oil fields into hydrogen-producing assets utilizing existing infrastructure
  • Hertha Metals, developer of a technology that cost-effectively produces steel with fewer carbon emissions
  • Venus Aerospace, a deep tech company developing reusable hypersonic technology for aviation, defense, and beyond

Scaleup of the year category, honoring an innovative later stage startup that's recently reached a significant milestone in company growth

  • Cart.com, a unified commerce and logistics solutions provider for B2C and B2B companies
  • Coya Therapeutics, a clinical-stage company developing therapies for neurodegenerative, autoimmune, and metabolic diseases
  • NanoTech Materials, a chemical manufacturer that integrates novel heat-control technology with thermal insulation, fireproofing, and cool roof coatings to drastically improve efficiency and safety
  • Square Robot, an advanced robotics company serving the energy industry and beyond by providing submersible robots for storage tank inspections
  • Syzygy Plasmonics, a company that's decarbonizing chemical production with a light-powered reactor platform that electrifies the production of hydrogen, syngas, and fuel with reliable, low-cost solutions

People’s choice: Startup of the Year category, honoring a startup celebrating a recent milestone or success and the winner will be selected by the community via online portal and announced at the event

  • Corrolytics, a technology startup founded to solve microbiologically influenced corrosion problems for industrial assets
  • FlowCare, a startup advocating for free menstruation products in business and academic settings
  • InnoVent Renewables, a startup with proprietary continuous pyrolysis technology that converts waste tires, plastics, and biomass into valuable fuels and chemicals
  • MendIt, an app that quickly and easily connects users to professionals who specialize in mending and repairing clothing
  • Passport Journeys, an app that connects mother-daughter pairs with licensed therapists to strengthen bonds and mend relationships to enhance female mental wellness
  • TrueLeap, an education technology company on a mission to accelerate access to quality education for emerging markets by integrating e-learning software, content, training, analytics, and community

Community champion organization category, honoring a corporation, nonprofit, university, or other organization that plays a major role in the Houston innovation community

  • Energy Tech Nexus, a new global energy and carbon tech hub focusing on hard tech solutions that provides mentor, accelerator and educational programs for entrepreneurs and underserved communities.
  • Greentown Houston, a climatetech incubator and convener for the energy transition community that provides community engagement and programming in partnership with corporations and other organizations.
  • Houston Angel Network, supports Houston startups with capital, connections, and counsel and provides accredited investors access to startup deals in which they can invest, both locally and nationally.
  • Impact Hub Houston, a nonprofit that serves as a pivotal hub within the city's innovation ecosystem, fostering a dynamic environment where changemakers, entrepreneurs, and community leaders converge to drive social impact and innovation forward.
  • Microsoft, a global tech company that supports the local innovation ecosystem with mentorship and opportunities in underserved communities.
  • University of Houston Technology Bridge, a key innovation hub at UH, designed to foster collaboration between academia, industry, and government and serves as a vibrant ecosystem for startups, researchers, and entrepreneurs, providing access to cutting-edge facilities, including labs, incubators, and coworking spaces.

Ecosystem builder category, honoring an individual who has acted as a leader in developing Houston’s startup ecosystem

Investor of the year category, honoring an individual who is leading venture capital or angel investing

Mentor of the year category, honoring an individual who dedicates their time and expertise to guide and support to budding entrepreneurs

UH's RED Labs and Rice's OwlSpark will be hosted at the Ion over 11 weeks of programming, networking, and training as each of the 18 participating companies are introduced to Houston's innovation ecosystem. Photo courtesy of the Ion

Rice, UH name student startup cohorts to annual summer accelerator

ready to grow

For the 11th year, Rice University and the University of Houston have teamed up to present their summer student accelerator programs.

UH's RED Labs and Rice's OwlSpark will be hosted at the Ion over 11 weeks of programming, networking, and training as each of the 18 participating companies are introduced to Houston's innovation ecosystem.

“The collaboration the University of Houston has with Rice University gives founders in RED Labs and OwlSpark a unique opportunity to grow along their peers in the larger Houston community and really exemplifies the spirit of collaboration that the Houston business ecosystem is known for,” Managing Director of RED Labs Liana Gonzalez-Schulenberg says in a news release. “It never fails to surprise me at the end of the summer the relationships built, the support systems created and collaborations produced across our universities. By working together, we empower the next generation of entrepreneurs to work together as they turn their visions into reality and drive positive change in the community.”

The programs conclude with the Bayou Startup Showcase on August 1, an event that's open to the public. Those interested can sign up online for more information.

“We’re celebrating more than just an 11-year partnership; we’re recognizing a dynamic alliance that has been instrumental in fostering entrepreneurship and propelling Houston to the forefront of innovation,” Managing Director of OwlSpark Jessica Fleenor adds. “This partnership exemplifies our dedication to cultivating a thriving environment where entrepreneurs can connect, grow and succeed surrounded by unparalleled resources and support. We are incredibly excited to see these new ventures grow as they join our growing network and are thrilled to host our cohorts at the Ion, positioning us at the core of our city’s vibrant innovation landscape.”

Here are the companies selected for each of the two programs, as outlined in the news release:

University of Houston RED Labs Class 12

  • Root Planters develops smart indoor plant care devices designed to prevent plant death by providing automatic watering, tailored for busy individuals and gardeners looking to maintain plant health with minimal effort.
  • Burb Groceries is an online grocery retailer for people with chronic health conditions.
  • That Dude’s Bakehouse offers premium, half-pound cookies, combining choice ingredients and craftsmanship with the mission of being the best part of somebody’s day
  • Mulligan Bandit aims to redefine golf fashion, offering affordable yet high-quality clothing that seamlessly transitions from the fairway to the streets, reflecting personal style while ensuring durability and comfort.
  • Surreal Vision offers immersive mixed reality solutions that provide dynamic visualization experiences to enhance design collaboration and client presentations.
  • Agave Catering is a catering company focused on providing high-quality, gourmet boxed lunches for professionals on the go.
  • Digitally Marie is a purposeful creative agency dedicated to reducing the opportunity gap for female entrepreneurs. Through our heart-driven approach, we elevate content production embodying their brand perception with unapologetic authenticity.
  • Unison is a personal contact relationship management tool that alleviates the risk of data loss and helps to build more meaningful professional and personal relationships.
  • Brain-eNet is a platform that provides hardware and software tools to enable the development of brain-controlled Internet of Things applications.
  • Pasha Blend Collection specializes in creating modern skincare products that embodies purity, authenticity and inclusivity.
  • Arresting Motion is a brand strategy design consultancy and marketing agency that transforms Houston’s top real estate firms into the brands they deserve.
  • CalliDanna is a consulting company that coaches girls 12 to 18 to help improve their lives professionally and personally.

Rice University OwlSpark Class 12

  • EcoFleet Solutions offers rechargeable electric power units for semitrucks, powering air conditioning and cabin functions during stops without engine idling, cutting fuel costs, maintenance and emissions.
  • Houston Community Print Shop offers printmaking classes and equipment access, focusing on community building and supporting underserved areas.
  • KOQ Agency curates and organizes global tours and live entertainment opportunities for queer and ally artists in drag, music and entertainment.
  • Euvivo Diagnostics is developing a direct-to-consumer test that analyzes cell aging by examining mitochondrial performance and new aging markers, tailored for individuals with mitochondrial disorders.
  • Hair Hub provides a compilation of styling tutorials, educational content, planning tools and a comprehensive database of products tailored for Black hair to provide resources for users to perform cost-efficient DIY haircare.
  • xMAD.ai is a compression-as-a-service platform that democratizes access to LLMs (Large Language Models) by making them faster, more private, cost-effective and accessible to businesses of all sizes.
The seven selected startups will have year-long curated curriculum, incubation at Greentown's two locations, a non-dilutive $25,000 grant, and access to mentors, corporates, and more from both Greentown and BGS's networks. Photo via GreentownLabs.com

2 Houston startups join inclusive accelerator for sustainability innovation

ready to grow

Two organizations have named the seven startup participants for their accelerator that works to advance BIPOC-led startups in the climatetech space.

Greentown Labs and Browning the Green Space named the newest accelerator for the Advancing Climatetech and Clean Energy Leaders Program, or ACCEL. The seven selected startups will have year-long curated curriculum, incubation at Greentown's two locations, a non-dilutive $25,000 grant, and access to mentors, corporates, and more from both Greentown and BGS's networks.

"Building on the momentum and success of our inaugural year, Greentown Labs is proud to welcome this incredible cohort of BIPOC-led startups to Year 2 of ACCEL," Greentown Labs CEO and President Kevin Knobloch says in a news release. "These founders and their teams are developing a dynamic array of much-needed climatetech solutions, and we're privileged to support them on their startup journeys as they advance their technologies and grow their teams."

The 2024 cohort includes:

  • AtmoSpark Technologies, based in Houston, is an atmospheric water generation company with a patented electro-condensation technology, which has a lower energy footprint than that of current water-generation methods.
  • Cambridge, Massachusetts-based Aquasaic is harnessing biology to clean water for planetary and human health.
  • Houston-based Axis Sky Renewables creates innovative wind solutions, specializing in vertical-axis wind turbines that are less expensive to produce, deploy, and maintain than traditional wind turbines.
  • Carbon Negative Solutions, from Rock Hill, New York, is creating smart-city-ready, carbon-negative concrete products.
  • NYC-based Cellsense develops interactive bio-embellishments that create new possibilities for designers while eliminating microplastics and replacing fossil-fuel-based material at scale.
  • EcoForge, headquartered in Providence, Rhode Island, is a building-material technology company developing affordable, high-performance building materials from local agricultural residues, replacing energy-intensive, fossil-based materials.
  • Boston-based Sankofa Dynamics creates low-cost, eco-friendly solutions for water, air, and energy problems.

The program is supported by the Massachusetts Clean Energy Center, Microsoft's Climate Innovation Fund, Equinor, Barr Foundation.

"These BIPOC-led startups are developing climate technologies that will lead us to a more equitable and sustainable future," MassCEC CEO Dr. Emily Reichert, the former CEO of Greentown, says in the release. "We want ALL climatetech innovators and entrepreneurs to thrive here in Massachusetts. We are proud to support the ACCEL accelerator, created and led by Greentown Labs and Browning the Green Space. The ACCEL program is helping us build a more diverse innovation ecosystem by breaking down barriers and expanding opportunities."

ACCEL was announced in 2022, and the first cohort featured six climatetech startups — two based in Houston.

"Our second year of ACCEL brings together an inspirational and diverse cohort of seven BIPOC-led startups developing tech to accelerate the distribution of climate solutions that address community needs," Browning the Green Space President and Executive Director Kerry Bowie adds. "We are thrilled to continue to strengthen our partnership with Greentown Labs and VentureWell and build on the learnings from the pilot cohort to provide critical support infrastructure for entrepreneurs of color."

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This article originally ran on EnergyCapital.

Three of Houston's mayoral candidates shared the stage at Tech Rodeo to talk about how they would lead the city toward greater success within the innovation space. Photo by Natalie Harms/InnovationMap

Overheard: Houston mayoral candidates share their platforms for the city's tech ecosystem

eavesdropping at tech rodeo

It's an election year in Houston, and one of the big topics on the minds of the candidates is how to continue the momentum of Houston's developing innovation ecosystem.

Houston Exponential put three of the declared candidates on the stage yesterday to ask them about their vision for Houston on the final day of Houston Tech Rodeo 2023. HX CEO Natara Branch moderated the discussion with Chris Hollins, Lee Kaplan, and Amanda K. Edwards. Each candidate addressed issues from diversity and equity, the energy transition, and more.

Missed the conversations? Here are a few overheard moments and highlights of the panel.

“It’s integral to our vision for the future of Houston that this is a place where small businesses, entrepreneurs, and creatives can thrive. We want to grow this economy to be one of the strongest economies in the United States — and we know that startups and small businesses are the powerhouse for that.”

— says Chris Hollins, who explains that he's a small business owner himself and also served as interim Harris County Clerk from June 2020 to November 2020, overseeing the 2020 United States presidential election in Harris County.

“Houston has an energy-centric community, and a lot of people who have money have gotten too comfortable investing in just oil and gas. … I understand how hard it is to run a business, and I understand (it) from representing entrepreneurs and investors.”

— says Lee Kaplan, a founding partner at law firm Smyser Kaplan & Veselka LLP.

“One of the things that’s important in a leader is making sure that they understand your issues, but most importantly that they can execute. That has been something that has been chief in concert in the way that I have served in public service, but of course the way that I’ve been a part of the startup economy.“

— says Amanda K. Edwards, who contributed to the establishment of the city’s tech and innovation task force as an at-large Houston City Council member. The task force resulted in the creation of HX Venture Fund and the Innovation District, she explains.

“When we think about cities that have done this really well — Silicon Valley, The Bay Area, Boston, Austin — what’s key in many of those cities is institutions around education. … We have to lean into Rice University and the University of Houston — making these centers for talent, excellence, and innovation so that we’re developing the thinkers, the engineers, the creators of the future, and then we’re giving your businesses a crop of new hires.”

— Hollins says responding to a question about Houston's challenges.

“The thing that I think is the most important for the city is to be rigorous with what we do. We’re not going to get around the fact that it’s hot and we have mosquitos. But we can sell the fact that we have a city that’s improving.”

— Kaplan says on Houston's progress.

“I don’t want to compete or lose to any city in America. When I think about Houston, I’m bullish. I know that we are the place that is home to innovation, and it’s about time that people know us as that."

— Edwards says, referencing how Houston is known nationally for its problems — she gives the example of Hurricane Harvey. “We have major challenges in our city, but we can innovate using our innovation economy to provide answers and solutions to them.”

“Energy has to be a part of our story. We are where we are today because we’re the energy capital of the world. And we know that the energy transition is happening, and if we don’t lean into that, our region stands to lose hundreds of thousands of jobs.”

— Hollins says on the types of emerging tech in Houston.

“You often hear it said that Houston is the most diverse city in the nation, but I pose this challenge: What good is it to be the most diverse if we’re not solving the challenges that diverse communities face? And that includes equity in tech. We have all of the raw ingredients here in the Houston community to make Houston the home of where tech and innovation is diverse and equitable.”

— Edwards says on Houston's diversity and the challenges the city faces.

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Houston-based Fervo Energy bumps up IPO target to $1.82 billion

IPO update

Houston-based geothermal power company Fervo Energy is now eyeing an IPO that would raise $1.75 billion to $1.82 billion, up from the previous target of $1.33 billion.

In paperwork filed Monday, May 11 with the U.S. Securities and Exchange Commission, Fervo says it plans to sell 70 million shares of Class A common stock at $25 to $26 per share.

In addition, Fervo expects to grant underwriters 30-day options to buy up to 8.33 million additional shares of Class A common stock. This could raise nearly $200 million.

When it announced the IPO on May 4, Fervo aimed to sell 55.56 million shares at $21 to $24 per share, which would have raised $1.17 billion to $1.33 billion. The initial valuation target was $6.5 billion.

A date for the IPO hasn’t been scheduled. Fervo’s stock will be listed on Nasdaq under the ticker symbol FRVO.

Fervo, founded in 2017, has attracted about $1.5 billion in funding from investors such as Bill Gates-founded Breakthrough Energy Ventures, Google, Mitsubishi Heavy Industries, Devon Energy (which is moving its headquarters to Houston), Tesla co-founder JB Straubel, CalSTRS, Liberty Mutual Investments, AllianceBernstein, JPMorgan, Bank of America and Sumitomo Mitsui Trust Bank.

Fervo’s marquee project is Cape Station in Beaver County, Utah, the world’s largest EGS (enhanced geothermal system) project. The first phase will deliver 100 megawatts of baseload clean power, with the second phase adding another 400 megawatts. The site can accommodate 2 gigawatts of geothermal energy. Fervo holds more than 595,000 leased acres for potential expansion.

Cape Station has secured power purchase agreements for the entire 500-megawatt capacity. Customers include Houston-based Shell Energy North America and Southern California Edison.

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This article originally appeared on our sister site, EnergyCapitalHTX.com.

Texas university's new flight academy opens at Houston Spaceport

cleared for takeoff

The vehicles may not have “student driver” stickers on them, but Texas Southern University has moved a dozen planes into its new training facility at the Houston Spaceport, opening the way for student flyers to use the facility.

TSU previously reached a deal with Houston Airports and the City of Houston in 2023 to house its prospective Flight Academy at Ellington Field. At the time, TSU had a small fleet of nine planes for student use, but a $5.5 million investment from the city greatly expanded the space available.

The Flight Academy includes a 20,000-square-foot hangar that serves as a TSU satellite campus. The school now has a fleet of 12 Cirrus SR20 aircraft that were acquired last year through state and alumni funding. An additional 4,500 square feet is used as classroom and office space. An 8,000-gallon fuel tank will support flight training operations.

TSU first launched its Aviation Science Management program in 1986 and added a professional pilot program in 2016. The school is now part of the United Airlines pipeline program and has also forged relationships with Delta and Southwest.

“I want to commend Texas Southern University and Houston Airports for their leadership and partnership in advancing aviation education right here in our city,” Houston City Councilwoman Dr. Carolyn Evans-Shabazz in a press release.

“It connects our students to high-paying, high-demand careers in aviation and aerospace. This is how we grow a city in the right way—by investing in workforce development, aligning education with industry and making sure our residents are prepared to lead in the industries of tomorrow. Houston is already a global leader in aerospace and projects like this strengthen that position even further, especially here at Ellington, where innovation and opportunity continue to take flight.”

The City of Houston signed an agreement to continue funding the academy for five years.

Amazon launches ultrafast, 30-minute delivery service across Houston

Amazon Now

More than 20 years after it redefined fast shipping, Amazon is preparing to raise the bar on consumer expectations again by offering to fulfill customers' most urgent product needs in Houston and other parts of the world in a half-hour or less for an extra fee.

The company, which revolutionized online shopping in 2005 with two-day deliveries for Prime members, is rapidly opening small order-processing hubs in dozens of U.S. and foreign cities to cater to shoppers who can't or don't want to wait for cough medicine to relieve flu symptoms or tomatoes for tonight's dinner salad.

The ultrafast service, called Amazon Now, first launched in India last June. Amazon says 30-minute deliveries now are also available in urban areas of the United States, Brazil, Mexico, Japan, the United Arab Emirates, the United Kingdom.

The mini-warehouses devoted to Amazon Now are about the size of a CVS drugstore. They stock about 3,500 products for expedited delivery, including beer, diapers, pet food, meat, nonprescription medications, playing cards and cellphone charging cables.

“We know that customers love speed and always have,” Beryl Tomay, Amazon’s head of transportation, told The Associated Press on Monday. “What we see customers doing, when we offer faster speeds, are they purchase more from Amazon. And Amazon becomes more top of mind for that or other types of items as well.”

In the U.S., the company first tested Amazon Now in Seattle, the home of its headquarters, and in Philadelphia. Most residents of the Dallas-Fort Worth area and Atlanta now have access as well. The service is also live in Dallas-Fort Worth, Denver, Minneapolis, Phoenix, Oklahoma City, Orlando, and dozens of other cities, Amazon said, with New York City and others expected by year-end.

The service charges for Amazon Now start at $3.99 for Prime members, who pay an annual fee of $139, and $13.99 for non-members. A $1.99 small basket fee applies to orders under $15, Amazon said.

The company's bet on a need for speed also comes as some consumers are rebelling against rushed deliveries as they weigh the potential impact on the environment and the workers tasked with preparing orders at a rapid rate.

Amazon’s approach
A relentless focus on speed helped Amazon build a logistics and e-commerce empire. After it made two days the new delivery time normal, Amazon moved into one-day and same-day deliveries for its Prime members. This spring, the company began making 90,000 products available in one hour or three hours at an extra cost.

The scaled down and sped up microhubs that are designed to handle 30-minute orders represent another step in Amazon's pursuit.

Only a handful of people prepare orders from aisles of shelves in the 5,000- to 10,000-square-foot facilities, unlike the sprawling fulfillment centers storing millions of items where Amazon employs a mix of human workers and robotics to pick and pack orders.

Amazon tailors the product inventory to each location and uses artificial intelligence and other technology to analyze what customers buy, as well as when and how often. The most popular U.S. purchases so far include soap, toothpaste, mouthwash, toilet plungers, bananas, limes and wireless earbuds, Amazon said.

The competition
Amazon’s attempt to up the instant gratification ante provides direct competition to on-demand food delivery platforms like Instacart, Uber Eats, DoorDash and Grubhub, which don't have the scale of the e-commerce titan, according to independent retail analyst Bruce Winder.

“What Amazon brings is their prowess in supply chain,” Winder said.

These smaller companies said they don't see Amazon as a threat, though, citing the hundreds of thousands of items they are able to deliver to users' doorsteps by partnering with various merchants and restaurants.

“DoorDash has a mission to empower grocers and retailers and augment their existing footprint, not to replace them,” DoorDash spokesperson Ali Musa said in an emailed statement. “We win only when they win, which is how we can offer over half a million grocery and retail items in under an hour across the country.”

Amazon also is in a race with Walmart to become the retailer that reliably gets orders to online shoppers in under an hour.

For an additional $10 on top of standard delivery charges, shoppers can place Walmart Express Delivery orders from among more than 100,000 products that are guaranteed to arrive in an hour. Many customers, however, are receiving the items under 30 minutes, Walmart CEO John Furner told analysts in February.

Domino's cautionary tale
Companies have promised deliveries in 30 minutes or less before, but the landscape also is littered with failed attempts to break the speed barrier.

The COVID-19 pandemic produced a flurry of companies that promised 10- to 15-minute grocery deliveries from microwarehouses in dense neighborhoods, according to Sucharita Kodali, an analyst at market research firm Forrester Research.

But soaring operating costs, low customer loyalty and the drying up of investor money ultimately caused most to fail before the pandemic was over, analysts said.

Domino’s in 1984 pushed a guarantee that customers would receive their pizzas for free if they weren't delivered in under a half-hour. The company amended the “30 minutes or it’s free” policy after two years, providing only a $3 discount for late deliveries.

The promotion helped Domino’s win market share, but it ended up tarnishing the company's reputation. It dropped the guarantee in December 1993 after a string of crashes and lawsuits involving drivers racing to meet the deadline.

Brad Jashinsky, a retail analyst at information technology research and consulting firm Gartner, said he thinks Amazon should take the pizza chain's experience as a cautionary tale.

“You get in trouble when you start overpromising something like that,” he said.

Amazon won't be making any time guarantees and instead plans to keep customers who chose the 30-minute delivery option updated on the progress of their orders, Tomay said.

“There's no rushing either in our building workers or the gig workers,” she said.

Taking it slow
Kodali thinks Amazon will need a lot of people placing orders around the same time from the same or adjacent apartment buildings for the 30-minute service to be cost-effective.

Consumers may appreciate rapid receipt of products like toilet paper and batteries, but retailers and logistics experts said they also see some online shoppers, especially members of Generation Z, choosing no-rush shipping for products they don't need in a hurry.

Amazon for several years has invited customers to skip one- or two-day delivery and to receive their orders on the same day in as few parcels as possible. Consolidating orders into fewer packages by electing to have them delivered at the same time cuts down on boxes, shipping envelopes and fuel use, analysts said.

“The millennials who came to age in an era that was on fast delivery came to expect it de facto, whereas ... Gen Z is more accepting of a slower speed than previous generations before them,” said Darby Meegan, a general manager at Flexport, a supply chain and logistics company that fulfills orders for thousands of online merchants.

Still, Amazon executives have cited positive early results for Amazon Now in India, where they said Prime members tripled their requests for 30-minute deliveries once they started using the service.

Amazon Now also is attracting more repeat American customers, Tomay said.

“It’s in early days and time will tell,” she said. “I think that it will be interesting to see how it evolves.”