10 most-promising energy tech startups named at annual Houston event

top companies

Over 500 people attended the 21st annual Energy Tech Venture Forum hosted by the Rice Alliance. Photo courtesy of Rice

Investors from around the world again identified the most-promising energy tech startups at the Rice Alliance for Technology and Entrepreneurship's annual event.

"The recognition that Houston is the epicenter of energy transition is growing. It's something we are championing as much as possible so that the world can know exactly what we're doing," Paul Cherukuri, chief innovation officer at Rice University says at the 21st annual Energy Tech Venture Forum.

The event took place during the inaugural Houston Energy and Climate Startup Week, and nearly 100 startups from 23 states and seven countries pitched investors Wednesday, September 11, and Thursday, September 12. At the conclusion of the event, the investors decided on 10 companies deemed "most promising" from the presentations.

This year's selected companies are:

  • Revterra, a Houston-based company innovating within kinetic battery technology to enable faster and cleaner electric vehicle charging.
  • From Austin, 360 Mining is a modular data center provider for the oil and gas producers.
  • New York company Andium is a centralized and optimized operations platform for large energy companies.
  • Elementium Materials, a local Katy-based company, created its battery technology that originated out of MIT.
  • Splight is a San Mateo, California-based technology platform that provides real-time operational data based on inverter-based resources assets.
  • Los Angeles-based Mitico, one of the Rice Alliance Clean Energy Accelerator's class 4 participants, provides services and equipment for carbon capture through its granulated metal carbonate sorption technology.
  • From Cambridge, Massachusetts, Osmoses is changing the way molecular gas separations are performed within the chemical, petrochemical, and energy industries.
  • Rice Alliance Clean Energy Accelerator class 4 participant CORROLYTICS, based in Houston, has a corrosion detection and monitoring technology. The company also won over the crowd and secured the People's Choice win too.
  • Ardent, based in New Castle, Delaware, has developed a membrane technology for point-source carbon capture.
  • New Haven, Connecticut-based Oxylus Energy produces an alternative fuel from converting CO2 into green methanol.

Last year, investors named its selection of most-promising companies at Rice.

"We have a responsibility as a city to lead energy transition," Cherukuri continues. "A lot of the investments we're making at Rice are going to change the world."

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Houston XR training company lands $5.8M contract with Air Force

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The U.S. Air Force’s AFWERX innovation arm has picked Houston-based HTX Labs to provide AI-enabled immersive training for workers who maintain Boeing KC-135 refueling tankers.

HTX Labs, an extended reality (XR) company and provider of immersive training programs for U.S. armed forces, will receive as much as $5.8 million in military funding for this project.

The new initiative comes on the heels of HTX Labs completing the second phase of a virtual KC-135 maintenance training program in partnership with Mildenhall, a Royal Air Force station in England. HTX Labs received Small Business Innovation Research (SBIR) funding for the second-phase project.

Under the new initiative, part of its EMPACT training platform, HTX Labs will develop a virtual AI-powered classroom for workers who maintain the KC-135’s F108 engine. In conjunction with this project, HTX Labs will collaborate with the Maine Air National Guard’s 101st Air Refueling Wing Maintenance Squadron on improving EMPACT.

Major Ryan Wing of the Maine Air National Guard says KC-135 maintenance workers “have limited opportunities to perform some of the more complex aircraft and engine repairs in a training environment. Providing immersive training to our warfighters is essential to ensuring mission readiness.”

In January, HTX Labs tapped Brian Reece as vice president of strategic accounts for the Air Force. In this role, he oversees HTX Labs’ relationship with this military branch. Reece is a retired Air Force colonel.

In 2022, Dallas-based Cypress Growth Capital invested $3.2 million in HTX Labs, which was founded in 2017.

5 Rice University-founded startups named finalists ahead of prestigious pitch competition

student founders

Five student-founded startups have been named finalists for Rice University's prestigious pitch competition, hosted by Rice University’s Liu Idea Lab for Innovation and Entrepreneurship later this month

The teams will compete for a share of $100,000 in equity-free funding at the H. Albert Napier Rice Launch Challenge (NRLC), a venture competition that features Rice University's top student-founded startups. The competition is open to undergraduate, graduate, and MBA students at Rice.

Finalists will pitch their five-minute pitch before the Rice entrepreneurship community, followed by a Q&A from a panel of judges, at Rice Memorial Center Tuesday, April 22.

The first-place team will receive $50,000 in equity-free funding, with other prizes and awards ranging from $25,000 to $1,000. Apart from first-, second- and third-place prizes, NRLC will also name winners in categories like the Outstanding Achievement in Artificial Intelligence Prize, the Outstanding Achievement in Climate Solutions Prize, and the Audience Choice Award.

Here are the five startups founded by Rice students are heading to the finals.

Haast Autonomous

Haast Autonomous is building unmanned, long-range VTOL aircraft with cold storage to revolutionize organ transport—delivering life-saving medical supplies roof-to-roof faster, safer, and more efficiently than current systems.

Founders: Jason Chen, Ege Halac, Santiago Brent

Kinnections

Kinnections' Glove is a lightweight, wearable device that uses targeted vibrations to reduce tremors and improve motor control in Parkinson’s patients.

Founders: Emmie Casey, Tomi Kuye

Labshare

Labshare is an AI-powered web app that streamlines lab inventory and resource sharing, reducing waste and improving efficiency by connecting neighboring labs through a centralized, real-time platform.

Founders: Julian Figueroa Jr, John Tian, Mingyo Kang, Arnan Bawa, Daniel Kuo

SteerBio

SteerBio’s LymphGuide is a patented, single-surgery hydrogel solution that restores lymphatic function by promoting vessel growth and reducing rejection, offering a transformative, cost-effective treatment for lymphedema.

Founders: Mor Sela Golan, Martha Fowler, Alvaro Moreno Lozano

Veloci

Veloci Running creates innovative shoes that eliminate the trade-off between foot pain and leg tightness, empowering runners to train comfortably and reduce injury risk.

Founders: Tyler Strothman

Last year, HEXASpec took home first place for its inorganic fillers that improve heat management for the semiconductor industry. The team also won this year's Energy Venture Day and Pitch Competition during CERAWeek in the TEX-E student track.

Dow aims to power Texas manufacturing complex with next-gen nuclear reactors

clean energy

Dow, a major producer of chemicals and plastics, wants to use next-generation nuclear reactors for clean power and steam at a Texas manufacturing complex instead of natural gas.

Dow's subsidiary, Long Mott Energy, applied Monday to the U.S. Nuclear Regulatory Commission for a construction permit. It said the project with X-energy, an advanced nuclear reactor and fuel company, would nearly eliminate the emissions associated with power and steam generation at its plant in Seadrift, Texas, avoiding roughly 500,000 metric tons of planet-warming greenhouse gas emissions annually.

If built and operated as planned, it would be the first U.S. commercial advanced nuclear power plant for an industrial site, according to the NRC.

For many, nuclear power is emerging as an answer to meet a soaring demand for electricity nationwide, driven by the expansion of data centers and artificial intelligence, manufacturing and electrification, and to stave off the worst effects of a warming planet. However, there are safety and security concerns, the Union of Concerned Scientists cautions. The question of how to store hazardous nuclear waste in the U.S. is unresolved, too.

Dow wants four of X-energy's advanced small modular reactors, the Xe-100. Combined, those could supply up to 320 megawatts of electricity or 800 megawatts of thermal power. X-energy CEO J. Clay Sell said the project would demonstrate how new nuclear technology can meet the massive growth in electricity demand.

The Seadrift manufacturing complex, at about 4,700 acres, has eight production plants owned by Dow and one owned by Braskem. There, Dow makes plastics for a variety of uses including food and beverage packaging and wire and cable insulation, as well as glycols for antifreeze, polyester fabrics and bottles, and oxide derivatives for health and beauty products.

Edward Stones, the business vice president of energy and climate at Dow, said submitting the permit application is an important next step in expanding access to safe, clean, reliable, cost-competitive nuclear energy in the United States. The project is supported by the Department of Energy’s Advanced Reactor Demonstration Program.

The NRC expects the review to take three years or less. If a permit is issued, construction could begin at the end of this decade, so the reactors would be ready early in the 2030s, as the natural gas-fired equipment is retired.

A total of four applicants have asked the NRC for construction permits for advanced nuclear reactors. The NRC issued a permit to Abilene Christian University for a research reactor and to Kairos Power for one reactor and two reactor test versions of that company's design. It's reviewing an application by Bill Gates and his energy company, TerraPower, to build an advanced reactor in Wyoming.

X-energy is also collaborating with Amazon to bring more than 5 gigawatts of new nuclear power projects online across the United States by 2039, beginning in Washington state. Amazon and other tech giants have committed to using renewable energy to meet the surging demand from data centers and artificial intelligence and address climate change.

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This story appeared on our sister site, EnergyCapitalHTX.com.

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