ExxonMobil named two winners in its inaugural reverse pitch competition with BBL Ventures. Courtesy of OctoRD

ExxonMobil and BBL Ventures have teamed up to flip the script on pitch competitions. Rather than have startups pitch themselves, the two companies collaborated on a reverse pitch event where Exxon identifies a few problems and search for companies that can build a solution.

The purpose of the event, says Tim Westhoven, technology scouting and venturing at ExxonMobil at the Baytown refinery, was to get the company out of its day-to-day to spark new ideas and innovation.

"Typically, as an engineer, when we think about how we solve a problem, we start inside the organization," Westhoven says at the event, which took place on Wednesday, June 5, at Station Houston. "Then we think about what problems we want to solve. Sometimes, you don't even think at all about what's available on the outside. This reverse pitch is us thinking about the impact we want to have and what the outside can offer."

In his experience, once an organization goes outside itself for solutions, they can find more options to choose from.

"As we cycle through and innovate on these things and find more and more outside solutions to a particular problem, we find the impact scales very quickly," Westhoven says.

The reverse pitch contest, which launched in March, asked for solutions to two problems ExxonMobil employees actually encounter. The first is regarding the opening process equipment, with the goal being to "create a method to stop exposure to flow or residual material," according to the website. The company needs a device that works remotely, thus reducing the risk of exposure and contact with the material for technicians.

The other problem ExxonMobil is looking to solve has to do with reducing arc flash that result in exposure to electrical charges. The company has "identified the promotion of personal safety as a priority action in addressing and reducing negative events on campuses globally," the website says. All the specifics for these two issues are available online.

For both problems, ExxonMobil wants AI and automation involved — and that's deliberate to minimize human involvement, which can lead to error.

"Human error causes 40 to 70 percent of those issues," Westhoven says. "This is why we are looking to robotics and automation to solve this problem."

Seven companies pitched during the evening, and two — one for each solution — were named winners. Here's what solutions stood out to the judges, potentially took home $60,000, and are up for a pilot program at ExxonMobil.

Opening Process Equipment: OctoRD

Courtesy of OctoRD

OctoRD's OPE solution includes using materials that are already available on the market to create a safer solution to the current process. In fact, Kevin Larsen, founder of Phoenix, Arizona-based OctoRD, even brought an early prototype to his pitch to demonstrate for the judges.

"My whole background has been taking technology, applying it to problems, and getting it into production and real life," he says.

OctoRD's product would take 90 days to get to market. It would allow for employees to open and close the device from up to 15 feet away, and, should an emergency occur, would have an automatic shutting feature. While the current model satisfies the requirements for the category, Larsen's pitch even included future ways to advance the tool.

Reducing Arc Flash: CBS ArcSafe

Courtesy of CBS ArcSafe

CBS ArcSafe, based in Denton, Texas, has been around for a while and knows how to increase worker safety using technology, says Justin Gaull, marketing manager for CBS ArcSafe. The company has designed over 700 tools for safety purposes.

"Our business is the business of safety, and decreasing arc flash hazards is our priority," he says to the crowd at the pitch event.

The company's solution would take 10 weeks or less to get from discovery to production to market. The technology includes a switchgear box, the Elliot 230-PM, that syncs with a remote that allows workers to operate well out of the arc flash zone — even up to 300 feet away with the wireless option. There would also be a video camera able to capture a view of the gauges so the operator can see them in real time.

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Axiom Space-tested cancer drug advances to clinical trials

mission critical

A cancer-fighting drug tested aboard several Axiom Space missions is moving forward to clinical trials.

Rebecsinib, which targets a cancer cloning and immune evasion gene, ADAR1, has received FDA approval to enter clinical trials under active Investigational New Drug (IND) status, according to a news release. The drug was tested aboard Axiom Mission 2 (Ax-2) and Axiom Mission 3 (Ax-3). It was developed by Aspera Biomedicine, led by Dr. Catriona Jamieson, director of the UC San Diego Sanford Stem Cell Institute (SSCI).

The San Diego-based Aspera team and Houston-based Axiom partnered to allow Rebecsinib to be tested in microgravity. Tumors have been shown to grow more rapidly in microgravity and even mimic how aggressive cancers can develop in patients.

“In terms of tumor growth, we see a doubling in growth of these little mini-tumors in just 10 days,” Jamieson explained in the release.

Rebecsinib took part in the patient-derived tumor organoid testing aboard the International Space Station. Similar testing is planned to continue on Axiom Station, the company's commercial space station that's currently under development.

Additionally, the drug will be tested aboard Ax-4 under its active IND status, which was targeted to launch June 25.

“We anticipate that this monumental mission will inform the expanded development of the first ADAR1 inhibitory cancer stem cell targeting drug for a broad array of cancers," Jamieson added.

According to Axiom, the milestone represents the potential for commercial space collaborations.

“We’re proud to work with Aspera Biomedicines and the UC San Diego Sanford Stem Cell Institute, as together we have achieved a historic milestone, and we’re even more excited for what’s to come,” Tejpaul Bhatia, the new CEO of Axiom Space, said in the release. “This is how we crack the code of the space economy – uniting public and private partners to turn microgravity into a launchpad for breakthroughs.”

Chevron enters the lithium market with major Texas land acquisition

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Chevron U.S.A., a subsidiary of Houston-based energy company Chevron, has taken its first big step toward establishing a commercial-scale lithium business.

Chevron acquired leaseholds totaling about 125,000 acres in Northeast Texas and southwest Arkansas from TerraVolta Resources and East Texas Natural Resources. The acreage contains a high amount of lithium, which Chevron plans to extract from brines produced from the subsurface.

Lithium-ion batteries are used in an array of technologies, such as smartwatches, e-bikes, pacemakers, and batteries for electric vehicles, according to Chevron. The International Energy Agency estimates lithium demand could grow more than 400 percent by 2040.

“This acquisition represents a strategic investment to support energy manufacturing and expand U.S.-based critical mineral supplies,” Jeff Gustavson, president of Chevron New Energies, said in a news release. “Establishing domestic and resilient lithium supply chains is essential not only to maintaining U.S. energy leadership but also to meeting the growing demand from customers.”

Rania Yacoub, corporate business development manager at Chevron New Energies, said that amid heightening demand, lithium is “one of the world’s most sought-after natural resources.”

“Chevron is looking to help meet that demand and drive U.S. energy competitiveness by sourcing lithium domestically,” Yacoub said.

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This article originally appeared on EnergyCapital.