Houston-based VoltaGrid provides small-scale, self-contained microgrids that can operate independently of major power grids or in tandem with other microgrids. Photo via voltagrid.com

VoltaGrid, a Bellaire-based startup that specializes in distributed power generation via microgrids, has hauled in $150 million in equity funding.

Founded in 2020, VoltaGrid provides small-scale, self-contained microgrids that can operate independently of major power grids or in tandem with other microgrids. VoltaGrid’s product consists of natural gas engines, portable energy storage, natural gas processing and grid power connectivity.

Investors in the $150 million round include the Canada Pension Plan Investment Board (CPP Investments), Longbow Capital, Walter Ventures, and Pilot Company (operator of more than 800 retail and fueling locations in the U.S. and Canada). The $150 million round comes less than a year after VoltaGrid announced a $100 million round featuring the same investors.

VoltaGrid says it will spend the fresh cash to grow its power generation portfolio, along with its low-carbon fuel program in partnership with Pilot. The low-carbon platform features hydrogen and compressed natural gas.

“VoltaGrid continues to set new milestones across multiple sectors and business lines as we execute on our proven strategy with key partners,” Nathan Ough, president and CEO of VoltaGrid, says in a news release.

“Our strategy to establish one of the largest asset bases of portable generation, uniquely paired with our low-carbon fueling solutions, has significantly decreased the complexity for our partners to electrify their operations. I am thankful to our team members for the tremendous amount of work that has been contributed to create one of the largest portfolios of contracted low carbon fuels in the industry.”

Ed Pettitt and Paresh Patel join the Houston Innovators Podcast to discuss InnoGrid's potential impact on equitable power. Photos courtesy of InnoGrid

Houston founders aim to provide equity through energy resiliency

Houston innovators podcast episode 143

As temperatures climb and devastating natural disasters continue to test the power grid, two Houston innovators have a solution: Smart microgrids.

"Microgrids have been around for a very long time," Paresh Patel, co-founder of InnoGrid, says on the Houston Innovators Podcast. "We're primed here in Houston and in Texas to really see microgrids go mainstream. ... People want to see that they have control and are in charge of their own power."

Patel co-founded InnoGrid with Ed Pettitt and a few other collaborators following the 2020 Houston Climathon. The social enterprise is working to establish community microgrids in lower income areas — neighborhoods that are most at risk of devastating power outages.

"We want to convert the commercial microgrid model for low and moderate income and undresourced residential communities," Patel explains.

And there's never been a better time to shine a spotlight on microgrids as a solution to unreliable power systems, Pettitt says.

"We're dealing with massive inflation — costs are going up especially in food and energy," he explains on the show. "Even prior to this time of inflation, electricity prices in the US were expected to increase across the board. Hundreds of thousands of people right now today are being pushed below the poverty line because of increased energy costs. We need to be more creative in how we upgrade our infrastructure."

And the current grid system is well overdue for an upgrade. The microgrid system fits right in with the shared economy we live in today, Patel says, and it allows for more generation of energy that is decentralized, digitalized, decarbonized, and democratized — the four Ds as he says.

"When you consider our current grid system, it is a vestige of the industrial revolution — it's 140 years old. That business model is ripe for innovation," Patel says.

"We need to accelerate deployment of microgrid models," he continues. "I don't think we can afford to update our current grid system — it'll cost $2 trillion."

Most importantly, these microgrids need to be implemented in an equitable way, the founders say, and InnoGrid has its eyes on one Houston area in particular. The Innovation Corridor, which spans from the Texas Medical Center to Downtown Houston, would be the ideal region to deploy the technology.

"If you look at the innovation corridor, it forms the spine of the city. You have so many important municipal buildings, first-responding organizations, and a large amount of affordable housing in the area. There's critical resources here that we want to make sure the lights stay on in power disasters," Pettit says. "One of the things we believe at InnoGrid is that where you live shouldn't determine whether or not you survive a national weather event. We want to make sure we provide energy stability in the communities that need it most."

To make this dream into a reality, InnoGrid needs the right partnerships and support in the area — and the founders have made progress. InnoGrid recently participated in the Ion Smart and Resilient Cities Accelerator and has a relationship with Greentown Houston across the street.

Eventually, as Pettit says, InnoGrid wants to help lead Houston to becoming a hub for microgrid innovation.

"We're looking at other cities — like Chicago and Boston — and how they've deployed their microgrids and making sure we're bringing those best practices in Houston," Pettit says. "Eventually we want to be the leader in developing these microgrid best practices as the energy capital of the world."

Patel and Pettitt share more about InnoGrid and microgrid technology on the podcast. Listen to the interview below — or wherever you stream your podcasts — and subscribe for weekly episodes.


Ad Placement 300x100
Ad Placement 300x600

CultureMap Emails are Awesome

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.

---

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.