10 startups named most-promising in energy tech at Houston conference

rising stars

Here's what energy transition companies stood out to Rice Alliance's experts. Photo via Rice Alliance

At the 20th annual Energy Tech Venture Forum presented by Rice Alliance for technology and Entrepreneurship, 11 startups scored recognition from the event's investors who evaluated over 90 early-stage energy transition companies.

"The selection process was both exhilarating and challenging given the incredible ideas we've seen today," says Jason Sidhu, director of information services business engagement at TC Energy, who announced the top companies. "I want to extend my gratitude to every company that participate din this year's Energy Tech Venture Forum. Your commitment to solving energy problems and pursuing ambitions ideas is truly commendable."

In addition to the top 10 most-promising companies, the event's attendees decided the people's choice pick out of the 50 or so pitching companies. The winner of that recognition was Calgary, Alberta-based Galatea Technologies, which has created a tech platform to enhance workflows for operational, financial, and environmental performance.

The top companies, according to the Rice Alliance experts and investors, were:

Circular economy startup, Polystyvert. Based in Montreal, the company has created a unique dissolution recycling process that creates a material that can contribute to cutting carbon emissions by up to 90 percent.
United Kingdom-based Mirico provides a tracking technology to its customers to measure climate gases (like methane, carbon dioxide, nitrous oxide, and ammonia), across areas up to half a square mile and in all conditions.
Protein Evolution, from New Haven, Connecticut, taps into a combination of green chemistry and enzyme technology to break down synthetic polymers.
Another Canadian company, Ayrton Energy, based in Calgary, created a liquid organic H2 carrier (LOHC) storage technology presents an opportunity for large, scalable and efficient transport of H2 over long distances.
Also representing New Haven, Connecticut, Carbon Loop is on a mission to make carbon capture and conversion scalable through carbon dioxide electrolysis using a proprietary catalyst to convert captured carbon dioxide into methanol.d
Based in London, Mobilus Labs has designed a new way for frontline communication with an in-helmet hardware and software solution. software solution designed for the frontline workforce.
1s1 Energy, based in California, is working on producing low-cost green hydrogen by creating new materials to unlock unprecedented electrolyzer efficiency, durability, and more.
From Skokie, Illinois, Numat is specializing in solutions within Metal-organic framework (MOF) research to enhance the process of separating the hazardous chemicals negatively impacting human health and the environment.
Mantel, headquartered in Cambridge, Massachusetts, created a molten borate technology to capture CO2 in a new and efficient way.
The lone Houston-based company, Mars Materials is working to produce acrylonitrile using CO2 and biomass to enable decarbonization applications in carbon fiber and wastewater treatment.

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This article originally ran on EnergyCapital.

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The 22nd annual Rice Business Plan Competition named its winners across life science, clean energy, software, and more. Photo via Rice University/Twitter

Rice University competition doles out nearly $2M in cash prizes to student startups

winner, winner

Rice University brought back its international student startup competition to its in-person format in a big way, giving out nearly $2 million in investment plus thousands more in-kind prizes to over a dozen winning teams.

The 2022 Rice Business Plan Competition took place April 7-9 on campus, ending in a banquet and awards presentation at the Marriott Marquis on Saturday. Earlier this year, Rice announced the 42 student teams competing for the awards. The student competitors represent 31 universities — including three from European universities. The 42 teams were narrowed down from over 400 applicants and divided into five categories: energy, cleantech and sustainability; life sciences and health care solutions; consumer products and services; hard tech; and digital enterprise.

Over 250 judges, mentors, and investors were involved in the competition, naming seven finalists — each receiving thousands of dollars in investment funding.

Here were this year's finalists — and what they walked away with:

LIDROTEC from RWTH Aachen University, a cutting-edge machine that can better cut microchips for the semiconductor industry, is the big winner this year, taking home the $350,000 GOOSE Capital Investment Grand Prize. The team also won: the Softeq Venture Studio Prize ($50,000 cash, $75,000 in-kind), the TiE Houston Angels Investment Prize ($100,000), RBPC Alumnus, Thomas Healy, Investment Prize ($50,000), the Eagle Investors Prise ($5,000), Best Elevator Pitch - Hard Tech ($500), and RG Advisors CFO Consulting In-Kind Prize. The company also received a $6,700 in-kind prize from BakerBotts and an in-kind $25,000 from RG Advisory. The company's prize totaled over $682,200 in investment and in-kind awards.
The second place winner was Hoth Intelligence of University of Pittsburgh, an artificial intelligence platform for health care providers, securing a $100,000 investment prize. The company also won the Owl Investment Prize ($155,000), the HAN Investment Prize ($100,000), and the Pearland EDC Spirit of Entrepreneurship Prize ($25,000). The company also received a a $6,700 in-kind prize from BakerBotts. The company's prize totaled $386,700 in investment awards.
Invitris from the Technical University of Munich — a synthetic biology startup targeting antibiotic-resistant bacteria — won third place, which came with a $50,000 award. The team also won the nCourage Courageous Women Entrepreneur Investment Prize ($40,000), the Best Elevator Pitch - Life Science award ($500), and a $6,700 in-kind prize from BakerBotts. bringing its total earnings to $97,200.
Winning fourth place and a $5,000 prize was LymphaSense of Johns Hopkins, a medical device startup that's created a wearable lymphedema detection device for at-risk patients. The company also won the TMC Innovation Healthcare Investment Prize ($250,000 and entry into the TMC accelerator) and the Nixon Institute Prize ($3,000). The company's total winnings was $258,000.
INIA Biosciences from Boston University — a health tech startup that's created a bioelectric wearable device for kidney donor recipients — won fifth place and $5,000 in prize money.
The sixth place winner was Bold Move Beverages, a canned coffee cocktail company from the University of Texas at Austin, which won $5,000 for placing sixth and $10,000 from the RBPC Alumnus, Thomas Healy, Investment Prize. The company won a total of $15,000.
Lastly for the finalists, Anise Health of Harvard University, a digital health startups with an inclusive, data-driven platform for culturally-adapted mental health treatment, won seventh place and the $5,000 prize. The company also won first place in the wildcard round, which came with a $2,000 Edward H. Molter Memorial Prize. Anise walked away with $7,000 total.

Several companies won monetary prizes outside of the seven finalists. Here's what other student-founded companies in the competition won:

Mallard Bay Outdoors from Louisiana State University, an online marketplace for securely booking outdoor activities, won $216,500 in cash and in-kind prizes. The company won the Owl Investment Prize ($65,000), the Softeq Venture Studio Prize ($50,000 cash, $75,000 in-kind), the RBPC Alumnus, Thomas Healy, Investment Prize ($25,000), the Anbarci Family Company Showcase Prize ($1,000), and the Best Elevator Pitch - Consumer ($500).
TransCrypts from the University of Toronto and Harvard University, a secure blockchain platform for sharing employee documents, won two awards — the Owl Investment Prize ($50,000) and the Best Elevator Pitch - Digital ($500) — for a total of $50,500 in prizes.
Advanced Optronics of Carnegie Mellon University, a health tech company that develops smart sensors to improve patient outcomes, won two awards — the Pediatric Device Prize ($25,000) and the OFW Law FDA Regulatory Strategy In-Kind Prize — for a total of more than $25,000 in cash and in-kind prizes.
EpiSLS — a novel medical device startup that's automating in-vivo allergy testing — of the University of Michigan won the $25,000 Pediatric Device Prize.
Farm-to-closet women's apparel brand Pareto of Stanford University won the $10,000 nCourage Courageous Women Entrepreneur Investment Prize.
EpiFresh of Rice University, which developed a protective produce coating material that reduces food waste, won three awards for a total of $27,000. The company won the Energy, Cleantech & Sustainability Prize ($25,000), the Anbarci Family Company Showcase Prize ($1,000), and the Overall Best Elevator Pitch ($1,000).
Mantel of MIT, which is developing a high temperature liquid phase carbon capture material, won two awards for a total of $28,000 in prizes. The company won the New Climate Ventures Investment Prize ($25,000) and the DK Innovation Prize ($3,000).
Invictus BCI — a health tech startup building a noninvasive brain computer interface tools — from MIT won the the RBPC Alumni Network NABACO Prize for a total of $10,000 in winnings.
Health care fintech solution Woobie of Brigham Young University won the $25,000 Urban Capital Network Investment Prize.
KLAW Industries of Binghamton University, which has designed a way to recycle glass into concrete, won the Anbarci Family Company Showcase Prize ($1,000) and the Best Elevator Pitch - Energy ($500) prizes for a total of $1,500 in awards.
Acorn Genetics of Northwestern University, which is better optimizing genetic data for patients, won second place for the wildcard round, which came with the Edward H. Molter Memorial Prize ($1,750).
AI-powered stroke prevention platform PLAKK from McGill University won third place for the wildcard round, which came with the Edward H. Molter Memorial Prize ($1,500).

These startups join the ranks of 269 successful RBPC alumni companies — with 50 exits, five IPOs, and over $4.6 billion raised. RBPC was established in 2001.

The Rice Business Plan Competition is back in person this year, and these are the 42 teams that will go head to head for investments and prizes. Photo courtesy of Rice University

Rice University's student startup competition names 42 teams to compete for over $1 million in prizes

ready to pitch

The Rice Alliance for Technology and Entrepreneurship and the Jones Graduate School of Business have announced the 42 student teams that will compete in the 2022 Rice Business Plan Competition, which returns to an in-person format on the Rice University campus in April.

Of the teams competing for more than $1 million in prizes and funding in this year's competition, six hail from Texas — two teams each from Rice University, University of Texas at Austin, and Texas A&M University. The student competitors represent 31 universities — including three from European universities. The 42 teams were narrowed down from over 400 applicants and divided into five categories: energy, cleantech and sustainability; life sciences and health care solutions; consumer products and services; hard tech; and digital enterprise.

This is the first in-person RBPC since 2019, and the university is ready to bring together the entrepreneurs and a community of over 250 judges, mentors, and investors to the competition.

“As we come out on the other side of a long and challenging two years, we're feeling a sense of renewal and energy as we look to the future and finding inspiration from the next generation of entrepreneurs who are building a better world,” says Catherine Santamaria, director of the RBPC, in a news release.

“This year's competition celebrates student founders with a strong sense of determination — founders who are ready to adapt, build and grow companies that can change the future,” she continues. “We hope their participation will provide guidance and inspiration for our community.”

According to a news release, this year's RBPC Qualifier Competition, which narrowed down Rice's student teams that will compete in the official competition, saw the largest number of applicants, judges, and participants in the competition’s history. The Rice Alliance awarded a total of $5,000 in cash prizes to the top three teams from the internal qualifier: EpiFresh, Green Room and Anvil Diagnostics. From those three, Rice teams EpiFresh and Green Room received invitations to compete in the 2022 RBPC..

The full list of student teams that will be competing April 7 to 9 this year include:

Acorn Genetics from Northwestern University
Advanced Optronics from Carnegie Mellon University
Aethero Space from University of Missouri
AImirr from University of Chicago
AiroSolve from UCLA
Algeon Materials from UC San Diego
Anise Health from Harvard University
Beyond Silicon from Arizona State University
Bold Move Beverages from University of Texas at Austin
Diamante from University of Verona
EarthEn from Arizona State University
Empower Sleep from University of Pennsylvania
EpiFresh from Rice University
EpiSLS from University of Michigan
Green Room from Rice University
Horizon Health Solutions from University of Arkansas
Hoth Intelligence from Thomas Jefferson University
INIA Biosciences from Boston University
Invictus BCI from MIT
Invitris from Technical University of Munich (TUM)
KLAW Industries from Binghamton University
LIDROTEC from RWTH Aachen
Locus Lock from University of Texas at Austin
LymphaSense from Johns Hopkins University
Mallard Bay Outdoors from Louisiana State University
Mantel from MIT
Olera from Texas A&M University
OpenCell AI from Weill Cornell Medicine
OraFay from UCLA
Pareto from Stanford University
Photonect Interconnect Solutions from University of Rochester
PLAKK from McGill University
PneuTech from Johns Hopkins University
Rola from UC San Diego
RotorX from Georgia Tech
SimulatED from Carnegie Mellon University
SuChef from University of Pennsylvania
Symetric Finance from Fairfield University
Teale from Texas A&M University
Team Real Talk from University at Buffalo
TransCrypts from Harvard University
Woobie from Brigham Young University

Last year's awards had 54 student teams competing virtually, with over $1.4 million in cash and prizes awarded. Throughout RBPC's history, competitors have gone onto raise more than $3.57 billion in capital and more than 259 RBPC alumni have successfully launched their ventures. Forty RBPC startups that have had successful exits through acquisitions or trading on a public market, per the news release.

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Texas Space Commission launches, Houston execs named to leadership

future of space

Governor Greg Abbott announced the Texas Space Commission, naming its inaugural board of directors and Texas Aerospace Research and Space Economy Consortium Executive Committee.

The announcement came at NASA's Johnson Space Center, and the governor was joined by Speaker Dade Phelan, Representative Greg Bonnen, Representative Dennis Paul, NASA's Johnson Space Center Director Vanessa Wyche, and various aerospace industry leaders.

According to a news release, the Texas Space Commission will aim to strengthen commercial, civil, and military aerospace activity by promoting innovation in space exploration and commercial aerospace opportunities, which will include the integration of space, aeronautics, and aviation industries as part of the Texas economy.

The Commission will be governed by a nine-member board of directors. The board will also administer the legislatively created Space Exploration and Aeronautics Research Fund to provide grants to eligible entities.

“Texas is home to trailblazers and innovators, and we have a rich history of traversing the final frontier: space,” Lieutenant Governor Dan Patrick says in a news release. “Texas is and will continue to be the epicenter for the space industry across the globe, and I have total confidence that my appointees to the Texas Space Commission Board of Directors and the Texas Aerospace Research and Space Economy Consortium Executive Committee will ensure the Texas space industry remains an international powerhouse for cutting-edge space innovation.”

TARSEC will independently identify research opportunities that will assist the state’s position in aeronautics research and development, astronautics, space commercialization, and space flight infrastructure. It also plans to fuel the integration of space, aeronautics, astronautics, and aviation industries into the Texas economy. TARSEC will be governed by an executive committee and will be composed of representatives of each higher education institution in the state.

“Since its very inception, NASA’s Johnson Space Center has been home to manned spaceflight, propelling Texas as the national leader in the U.S. space program,” Abbott says during the announcement. “It was at Rice University where President John F. Kennedy announced that the U.S. would put a man on the moon—not because it was easy, but because it was hard.

"Now, with the Texas Space Commission, our great state will have a group that is responsible for dreaming and achieving the next generation of human exploration in space," he continues. "Texas is the launchpad for Mars, innovating the technology that will colonize humanity’s first new planet. As we look into the future of space, one thing is clear: those who reach for the stars do so from the great state of Texas. I look forward to working with the Texas Space Commission, and I thank the Texas Legislature for partnering with industry and higher education institutions to secure the future of Texas' robust space industry."

The Houston-area board of directors appointees included:

Gwen Griffin, chief executive officer of the Griffin Communications Group
John Shannon, vice president of Exploration Systems at the Boeing Company
Sarah "Sassie" Duggleby, co-founder and CEO of Venus Aerospace
Kirk Shireman, vice president of Lunar Exploration Campaigns at Lockheed Martin
Dr. Nancy Currie-Gregg, director of the Texas A&M Space Institute

Additionally, a few Houstonians were named to the TARSEC committee, including:

Stephanie Murphy, CEO and executive chairman of Aegis Aerospace
Matt Ondler, president and former chief technology officer at Axiom Space
Jack “2fish” Fischer, vice president of production and operations at Intuitive Machines
Brian Freedman, president of the Bay Area Houston Economic Partnership and vice chairman of Wellby Financial
David Alexander, professor of physics and astronomy and director of the Rice Space Institute at Rice University

To see the full list of appointed board and committee members, along with their extended bios, click here.

City of Houston approves $13M for new security tech at renovated IAH terminal

hi, tech

A new terminal currently under construction at George Bush Intercontinental Airport just got the green light for new security technology.

This week, Houston City Council unanimously approved the funding for the new Mickey Leland International Terminal's security equipment. The Mickey Leland International Terminal Project is part of the $1.43 billion IAH Terminal Redevelopment Program, or ITRP, which is expected to be completed by early next year.

This new IAH International Terminal will feature an International Central Processor, or ICP, with state-of-the-art technology in a 17-lane security checkpoint — among the largest in the country — as well as ticket counters and baggage claim.

“Houston Airports strives to get passengers through TSA Security in 20 minutes or less. Today, we meet that goal at Bush Airport more than 90 percent of the time,” Jim Szczesniak, director of aviation for Houston Airports, says in a news release. “This investment in innovative technology will enhance our efficiency and ensure that our passengers have a world-class experience each time they visit our airports.”

Going through security at IAH is about to be smoother sailing. Rendering courtesy of Houston Airports

The funding approval came from two ordinances, and the first one appropriates $11.8 million from the Airports Improvement Fund to buy, service, install, and train staff on nine new automated screening lanes, called Scarabee Checkpoint Property Screening Systems, or CPSS.

Per the news release, each of these CCPS automated lanes "is capable of screening more than 100 additional people and bags/hour than existing equipment used today." Currently, Terminal D's TSA is using eight CPSS Lanes, so the additional nine lanes will bring the total to 17 lanes of security.

The other appropriates another $1.2 million from the Airports Improvement Fund to buy, install, maintain, and train staff on six new Advanced Imaging Technology Quick Personnel Security Scanners.

The new scanners, which don't require the traveler to raise their arms, "is capable of screening more than 100 additional people/hour than existing equipment used today," per the release.

“These new security screening machines are faster, have fewer false alarms and have improved detection rates, which creates a safer experience for our passengers and airlines,” Federal Security Director for TSA at IAH Juan Sanchez adds.

The Mickey Leland International Terminal originally opened in 1990 and is currently under renovation. Rendering courtesy of Houston Airports

Texas has the 5th highest health care costs in the nation, Forbes says

dollar signs

A new Forbes Advisor study shedding light on Americans' top financial worries has revealed Texas has the fifth highest health care costs in the nation.

Forbes Advisor's annual report compared all 50 states and Washington, D.C. across nine different metrics to determine which states have the most and least expensive health care costs in 2024.

Factors include the average annual deductibles and premiums for employees using single and family coverage through employer-provided health insurances and the percentage of adults who chose not to see a health care provider due to costs within the last year, among others. Each state was ranked based on its score out of a total 100 possible points.

Texas was No. 5 with a score of 91.38 points. North Carolina was No. 1, followed in order by South Dakota, Nebraska, and Florida.

According to Forbes, out-of-state families considering a move to the Lone Star State should be aware of the state's troubling statistics when it comes to family health care. More specifically, nearly 15 percent of Texas children had families who struggled to pay for their medical bills in the past 12 months, the highest percentage in the nation.

Furthermore, Texans have the highest likelihood in the U.S. to skip seeing a doctor because of cost. The report showed 16 percent of Texas adults chose not to see a doctor in the past 12 months due to the cost of health care.

"Unexpected medical bills and the cost of health care services are the top two financial worries for Americans this year, according to a recent KFF health tracking poll," the report said. "These financial fears have real-world consequences. The high cost of healthcare is leading some Americans to make tough choices—often at the expense of their health."

In the category for the percentage of adults who reported 14 or more "mentally unhealthy" days out of a month, who could not seek health care services due to cost, Texas ranked No. 3 in the U.S. with 31.5 percent of adults experiencing these issues.

The report also highlighted the crystal clear inequality in the distribution of health care costs across the U.S.

"In some states, residents face much steeper health care expenses, including higher premiums and deductibles, which make them more likely to delay medical care due to costs," the report said.

For example, Texas' average annual premiums for both plus-one health insurance coverage ($4,626, according to the study) and family coverage ($7,051.33) through employer-provided policies was the No. 4-highest in the nation.

Elsewhere in the U.S.

The state with the most expensive health care costs is North Carolina, with a score of 100 points. 27 percent of adults in North Carolina reported struggling with their mental health who could not seek a doctor due to cost, and 11.3 percent of all adults in the state chose not to see a doctor within the last 12 months because of costs.

Hawaii (No. 50) is the state with the least expensive health care costs, according to Forbes. Hawaii had the lowest percentages of adults struggling with mental health (11.6 percent) and adults who chose not to see a doctor within the last year (5.7 percent). The average annual premium for employees in Hawaii using a family coverage plan through employer-provided health insurance is $5,373.67, and the average annual deductible for the same family coverage plan is $3,115.

The top 10 states with the most expensive health care are:

No. 1 – North Carolina
No. 2 – South Dakota
No. 3 – Nebraska
No. 4 – Florida
No. 5 – Texas
No. 6 – South Carolina
No. 7 – Arizona
No. 8 – Georgia
No. 9 – New Hampshire
No. 10 – Louisiana

The full report and its methodology can be found on forbes.com.