Houston firm closes oversubscribed $450M fund for clean energy innovation

seeing green

Pelican Energy Partners has raised more than it intended with its new nuclear-focused fund. Photo via Getty Images

Houston-based private equity firm Pelican Energy Partners has raised a $450 million fund to invest in nuclear energy services and equipment companies.

Pelican had aimed to raise $300 million for Pelican Energy Partners Base Zero LP and had imposed an initial “hard cap” of $400 million. Investors include endowments, foundations, family offices, and pension plans.

As of the fund’s closing date, the fund had wrapped up six investments, with several more deals expected to close by the end of this year.

In a news release, Pelican says the fund “is committed to growing and improving nuclear services companies, which are critical to sustaining and enhancing the installed nuclear power generation base.” Nuclear energy accounts for more than one-fifth of U.S. power generation and nearly half of U.S. carbon-free electricity.

“The wide-ranging enthusiasm for Base Zero is a testament to the growing interest and necessity of nuclear power. We look forward to continuing to build an outstanding portfolio where we can add substantial value and achieve excellent returns for our partners,” says Jay Surina, managing director of Pelican.

Since 2012, Pelican has raised over $1 billion for investments in companies in the energy services, equipment manufacturing, and technology sectors.

Houston-area companies that have received Pelican investments include AWC Frac Technology, Axon Energy Services, GHT, Vault Pressure Control, Epic International, P360 Management Solutions, Multilift Wellbore Technology, EnerCorp, Downhole Technology, and Capline Environmental Services.

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This article originally ran on EnergyCapital.

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Houston femtech co. debuts new lactation and wellness pods

mom pod

Houston-based femtech company Work&, previously known as Work&Mother, has introduced new products in recent months aimed at supporting working mothers and the overall health of all employees.

The company's new Lactation Pod and Hybrid Pod serve as dual-use lactation and wellness spaces to meet employer demand, the company shared in a news release. The compact pods offer flexible design options that can serve permanent offices and nearly all commercial spaces.

They feature a fully compliant lactation station while also offering wellness functionalities that can support meditation, mental health, telehealth and prayer. In line with Work&'s other spaces, the pods utilize the Work& scheduling platform, which prioritizes lactation bookings to help employers comply with the PUMP Act.

“This isn’t about perks,” Jules Lairson, Work& co-founder and COO, said in the release. “It’s about meeting people where they are—with dignity and intentional design. That includes the mother returning to work, the employee managing anxiety, and everyone in between.”

According to the company, several Fortune 500 companies are already using the pods, and Work& has plans to grow the products' reach.

Earlier this year, Work& introduced its first employee wellness space at MetroNational’s Memorial City Plazas, representing Work&'s shift to offer an array of holistic health and wellness solutions for landlords and tenants.

The company, founded in 2017 by Lairson and CEO Abbey Donnell, was initially focused on outfitting commercial buildings with lactation accommodations for working parents. While Work& still offers these services through its Work&Mother branch, the addition of its Work&Wellbeing arm allowed the company to also address the broader wellness needs of all employees.

The company rebranded as Work& earlier this year.

5 Houston innovators who made headlines in August 2025

Featured Innovators

Editor's note: Innovators hailing from both Rice University and University of Houston made headlines in August by developing a new biomaterial that could replace plastic and deploying a new flood scale to help Houstonians stay safe. Plus, one local innovator has a big move on the horizon.

Here are five Houston innovators to know right now.

​M.A.S.R. Saadi and Muhammed Maksud Rahman, Rice University and University of Houston

A team led by M.A.S.R. Saadi and Muhammad Maksud Rahman has developed a biomaterial that they hope could be used for the “next disposable water bottle." Photo courtesy Rice University.

Collaborators from two Houston universities are leading the way in engineering a biomaterial into a scalable, multifunctional material that could potentially replace plastic. The research was led by Muhammad Maksud Rahman, an assistant professor of mechanical and aerospace engineering at the University of Houston and an adjunct assistant professor of materials science and nanoengineering at Rice University. M.A.S.R. Saadi, a materials science and nanoengineering doctoral student at Rice University, was first author on the study. The study introduced a biosynthesis technique that aligns bacterial cellulose fibers in real-time, which resulted in robust biopolymer sheets with “exceptional mechanical properties,” according to the researchers. Learn more.

Paul Cherukuri, Rice University

Paul Cherukuri, Rice’s first vice president for innovation and chief innovation officer, will leave his post next month. Photo via Rice.edu

Paul Cherukuri, Rice University's top innovation executive, responsible for some of Rice’s major innovative projects like the Rice BioTech LaunchPad and Rice Nexus, will leave the university at the end of September to accept a position at the University of Virginia. Cherukuri, Rice’s first vice president for innovation and chief innovation officer, will become the University of Virginia’s Donna and Richard Tadler University Professor of Entrepreneurship and the school's first chief innovation officer. Learn more.

Steven Paul Woods (pictured) and Natalie C. Ridgely, University of Houston

Steven Paul Woods, professor of Psychology, at UH. Photo courtesy of UH

University of Houston Professor of Psychology Steven Paul Woods and doctoral student Natalie C. Ridgely recently partnered with the Space City Weather (SCW) blog to create a new flood alert scale for the trusted weather site. “My lab does work on how people access, understand, and use health information, so I thought we could adapt some of that ongoing work and our expertise in psychological science to answer questions about weather communication, and help keep Houstonians informed and safe,” said Woods. Learn more.

Rice biotech studio secures investment from Modi Ventures, adds founder to board

fresh funding

RBL LLC, which supports commercialization for ventures formed at the Rice University Biotech Launch Pad, has secured an investment from Houston-based Modi Ventures.

Additionally, RBL announced that it has named Sahir Ali, founder and general partner of Modi Ventures, to its board of directors.

Modi Ventures invests in biotech companies that are working to advance diagnostics, engineered therapeutics and AI-driven drug discovery. The firm has $134 million under management after closing an oversubscribed round this summer.

RBL launched in 2024 and is based out of Houston’s Texas Medical Center Helix Park. William McKeon, president and CEO of the TMC, previously called the launch of RBL a “critical step forward” for Houston’s life sciences ecosystem.

“RBL is dedicated to building companies focused on pioneering and intelligent bioelectronic therapeutics,” Ali said in a LinkedIn post. “This partnership strengthens the Houston biotech ecosystem and accelerates the transition of groundbreaking lab discoveries into impactful therapies.”

Ali will join board members like managing partner Paul Wotton, Rice bioengineering professor Omid Veiseh, scientist and partner at KdT Ventures Rima Chakrabarti, Rice alum John Jaggers, CEO of Arbor Biotechnologies Devyn Smith, and veteran executive in the life sciences sector James Watson.

Ali has led transformative work and built companies across AI, cloud computing and precision medicine. Ali also serves on the board of directors of the Drug Information Association, which helps to collaborate in drug, device and diagnostics developments.

“This investment by Modi Ventures will be instrumental to RBL’s growth as it reinforces confidence in our venture creation model and accelerates our ability to develop successful biotech startups,” Wotton said in the announcement. "Sahir’s addition to the board will also amplify this collaboration with Modi. His strategic counsel and deep understanding of field-defining technologies will be invaluable as we continue to grow and deliver on our mission.”

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