Houston-based oil and gas software company raises $1.6 million

Money moves

Houston-based M1neral has raised $1.6 million in an oversubscribed pre-seed round. Getty Images

A Houston energy tech startup that's digitally optimizing the minerals rights buying and selling process has closed an oversubscribed pre-seed financing round to the tune of $1.6 million.

M1neral's round was co-led by Amnis Ventures and Pheasant Energy, among a few other select investors and strategic partners. The company was co-founded by Jacob Avery, Kyle Chapman, and Shawn Cutter.

"Amnis Ventures is delighted to co-lead the current round of funding in M1neral. The founders come with deep knowledge of oil and gas, coupled with proven, delivered technology implementations in the energy space," says Manuel Silva III, president of Amnis Ventures Inc., in a press release. "The M1neral platform will bring age-old upstream oil and gas processes into the technology revolution of the 21st century that we have come to expect in other sectors."

M1neral's founders believe the mineral rights transaction process — akin to the real estate market in terms of the logistics — is ripe for a tech transformation, as it's been "stuck in the dark ages," according to the release.

"The mineral and royalty market is extensive in value but highly fractionated – over $500 billion in value spread across more than 12 million owners around the country," says Chapman, who serves as CEO, in the news release. "Add to that a lack of quality information and processes that are mostly manual, and it's easy to see what makes these transactions a painful and lengthy process."

M1neral's cloud-based platform acts as a one-stop shop for buyers. They can easily research opportunities and engage with sellers and service providers. The platform optimizes artificial intelligence and workflow automation to close deals quicker than traditional methods, Chapman says in the release.

"M1neral has identified, analyzed, and addressed significant issues on the technology side of the mineral and royalty market. Pheasant Energy has always taken a technology-driven approach and a partnership with M1neral was an obvious next step," says Ryan C. Moore, CEO of Pheasant Energy, in the news release. "The executive team at M1neral is well-versed in the industry and the challenges that both professionals and individual owners face on a daily basis. As the platform develops, everyone will understand the difference in vision with the M1neral team and the efficiencies that will be achieved with their product."

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Axiom Space taps solar array developer for first space station module

space contract

Houston-based Axiom Space is making progress on developing its commercial space station.

The company awarded Florida-based Redwire Corporation a contract to develop and deliver roll-out solar array (ROSA) wings to power the Axiom Payload Power Thermal Module (AxPPTM), which will be the first module for the new space station.

AxPPTM will initially attach to the International Space Station. AxPPTM will later separate from the ISS and rendezvous with Axiom’s Habitat 1 (AxH1) on orbit. Eventually, an airlock, Habitat 2 (AxH2) and finally the Research and Manufacturing Facility (AxRMF) will be added to the first two Axiom modules.

AxPPTM is anticipated to launch toward the end of 2027. The two-module station (AxPPTM and AxH1) is expected to be operational as a free-flying station by 2028, and the full four-module station around 2030.

The modules will be integrated and assembled at Axiom Space’s Assembly and Integration facility, making them the first human-rated spacecraft built in Houston.

Redwire’s ROSA technology was originally developed for the ISS, according to Space News. It has yielded a 100 percent success rate on on-orbit performance. The technology has also been used on NASA’s Double Asteroid Redirection Test mission, the Maxar-built Power and Propulsion Element for the Artemis Lunar Gateway and Thales Alenia Space’s Space Inspire satellites.

“As a market leader for space power solutions, Redwire is proud to be selected as a strategic supplier to deliver ROSAs for Axiom Space’s first space station module,” Mike Gold, Redwire president of civil and international space, said in a news release. “As NASA and industry take the next steps to build out commercial space stations to maintain U.S. leadership in low-Earth orbit, Redwire continues to be the partner of choice, enabling critical capabilities to ensure on-orbit success.”

Greentown Houston to add new AI lab for energy startups

AI partnership

Greentown Labs has partnered with Shoreless to launch an AI lab within its Houston climatetech incubator.

"Climatetech and energy startups are transforming industries, and AI is a critical tool in that journey," Lawson Gow, Greentown's Head of Houston, said in a news release. "We're excited to bring this new offering to our entrepreneurs and corporate partners to enhance the way they think about reducing costs and emissions across the value chain."

Shoreless, a Houston-based company that enables AI adoption for enterprise systems, will support startups developing solutions for supply-chain optimization and decarbonization. They will offer Greentown members climate sprint sessions that will deliver AI-driven insights to assist companies in reducing Scope 3 emissions, driving new revenue streams and lowering expenses. Additionally, the lab will help companies test their ideas before attempting to scale them globally.

"The future of climatetech is intertwined with the future of AI," Ken Myers, Founder and CEO of Shoreless, said in a news release. "By launching this AI lab with Greentown Labs, we are creating a collaborative ecosystem where innovation can flourish. Our agentic AI is designed to help companies make a real difference, and we are excited to see the groundbreaking solutions that will emerge from this partnership."

Greentown and Shoreless will collaborate on workshops that address industry needs for technical teams, and Shoreless will also work to provide engagement opportunities and tailored workshops for Greentown’s startups and residents. Interested companies can inquire here.

Recently, Greentown Labs also partnered with Los Angeles-based software development firm Nominal to launch the new Industrial Center of Excellence at Greentown's Houston incubator. It also announced a partnership with Houston-based EnergyTech Nexus, which will also open an investor lounge on-site last month. Read more here.

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

Houston medical institutions launch $6M kidney research incubator

NIH funding

Institutions within Houston’s Texas Medical Center have launched the Houston Area Incubator for Kidney, Urologic and Hematologic Research Training (HAI-KUH) program. The incubator will be backed by $6.25 million over five years from the National Institutes of Health and aims to create a training pipeline for researchers.

HAI-KUH will include 58 investigators from Baylor College of Medicine, Texas Children’s Hospital, the University of Texas Health Science Center at Houston, University of Houston, Houston Methodist Research Institute, MD Anderson Cancer Center, Rice University and Texas A&M University Institute of Biosciences and Technology. The program will fund six predoctoral students and six postdoctoral associates. Trainees will receive support in scientific research, professional development and networking.

According to the organizations, Houston has a high burden of kidney diseases, hypertension, sickle cell disease and other nonmalignant hematologic conditions. HAI-KUH will work to improve the health of patients by building a strong scientific workforce that leverages the team's biomedical research resources to develop research skills of students and trainees and prepare them for sustained and impactful careers. The funding comes through the National Institute of Diabetes and Digestive and Kidney Diseases.

The principal investigators of the project include Dr. Alison Bertuch, professor of pediatric oncology and molecular and human genetics at BCM; Peter Doris, professor and director of the Institute of Molecular Medicine Center for Human Genetics at UT Health; and Margaret Goodell, professor and chair of the Department of Molecular and Cellular Biology at Baylor.

“This new award provides unique collaborative training experiences that extend beyond the outstanding kidney, urology, and hematology research going on in the Texas Medical Center,” Doris said in a news release. “In conceiving this award, the National Institute of Diabetes and Digestive and Kidney Diseases envisioned trainee development across the full spectrum of skills required for professional success.”

Jeffrey Rimer, a professor of Chemical Engineering, is a core investigator on the project and program director at UH. Rimer is known for his breakthroughs in using innovative methods in control crystals to help treat malaria and kidney stones. Other co-investigators include Dr. Wolfgang Winkelmeyer (Baylor), Oleh Pochynyuk (UTHealth), Dr. Rose Khavari (Houston Methodist) and Pamela Wenzel (UT Health).

“This new NIH-sponsored training program will enable us to recruit talented students and postdocs to work on these challenging areas of research,” Rimer added in a release.

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