Energy, investment groups take up leases in Houston innovation hub

moving in

Oxy, Fathom Fund, and Activate have new offices inside the Ion. Photo courtesy of the Ion

The Ion in Midtown has some new tenants taking up residence in its 90 percent-leased building.

Occidental Petroleum Corporation, Fathom Fund, and Activate are the latest additions to the Ion, according to a news release from Rice University and the Rice Real Estate Company, which own and operate the 16-acre Ion District where the Ion is located. With the additions, the building has just 10 percent left up for grabs.

“As the Ion continues to attract leading companies and organizations across industries, it’s clear that our vision of creating a dynamic and collaborative environment for innovation is resonating,” Ken Jett, president of the Rice Real Estate Company and vice president of facilities and capital planning at Rice, says in the release. “We are proud to set the standard for how the workplace can evolve to foster the commercialization and growth of transformative technologies that enhance quality of life in our community and beyond.”

Oxy, which was named a corporate partner of the Ion last year, now has nearly 6,500 square feet on the fourth floor. The build out process is slated to be completed by early 2025.

While Oxy represents the corporate side of innovation, the other two additions have their own roles in the innovation arena. Houston-based Fathom Fund, which launched its $100 million fund earlier this year, is targeting deep-tech venture opportunities and is led by Managing Partners Paul Sheng and Eric Bielke.

Founded in Berkeley, California, Activate, which announced its expansion into Houston in 2023, has officially named its local office in the Ion. The hardtech-focused incubator program recently named its inaugural cohort and opened applications for the 2025 program.

Other recent joiners to the Ion includes Kongsberg Digital, Artemis Energy Partners, CES Renewables, and Eleox.

“The partnerships we’ve forged are vital to shaping the Ion into a vibrant ecosystem for startups, where collaborative innovation is not only driving local economic growth but also positioning Houston as a global leader in the energy transition,” Paul Cherukuri, chief innovation officer at Rice University, says. “With our team leading the programming and activation across the Ion district, we are creating companies that harness cutting-edge technology for the benefit of society—advancing solutions that contribute to social good while addressing the most pressing challenges of our time. This powerful network is redefining Houston’s role in the future of energy, technology, and social impact.”

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The Ion named three corporate partners ahead of its annual innovation-focused festival. Photo courtesy of the Ion

Houston innovation hub adds Oxy, United, and Woodside as partners

onboarding

Houston’s Ion innovation hub has recruited three heavyweight corporate partners, the hub announced earlier this week.

The new partners are:

  • Houston-based energy company Occidental (known as Oxy).
  • United Airlines Ventures, the sustainability-focused VC arm of Chicago-based United Airlines. United operates a major hub in Houston.
  • Australia-based Woodside Energy, which maintains an office in Houston.

Oxy, United Airlines Ventures, and Woodside will share their expertise in support of Ion’s mission to transform Houston into a global innovation ecosystem, according to an Ion news release. In addition, they will participate in Ion programming and network with Ion affiliates. Executives from all three of the new partners will serve on the Ion Leadership Advisory Roundtable.

“Welcoming our newest partners into Ion’s ecosystem is a further testament to our momentum in the aerospace and energy transition,” says Jan Odegard, who became executive director of the Ion in 2021 after a year of holding the interim position. “Each organization brings their own culture of innovation that aligns with what we are doing at the Ion.”

Michael Leskinen, president of United Airlines Ventures, says the VC firm believes “the Ion will be the epicenter for Houston’s rapidly growing innovation community — a one-stop shop to share ideas, foster startups, and to develop relationships with Houston’s brightest companies and academia.”

Oxy, United Airlines Ventures, and Woodside join Ion corporate partners such as:

  • Aramco Americas
  • Baker Botts
  • BP
  • Chevron
  • ExxonMobil
  • Global Custom Commerce
  • Intel
  • Microsoft
  • Transocean

The Ion announced the new corporate partners in advance of the second annual Ion Activation Festival, set for May 17-19. The Ion and Rice Management Co. host the festival, which shines a spotlight on entrepreneurship and innovation in Houston.

Activities will take place primarily at the Ion’s 16-acre campus. To register for the festival, visit the Ion’s website.

The inaugural festival, held in 2022, drew more than 2,500 attendees.

Oxy's Permian Basin carbon capture project has a news partner and the Astros are thinking about their climate goals. Rendering via 1pointfive.com

Houston energy giant makes moves on emissions with Astros deal, new tech in the Permian Basin

oxy updates

Houston-based energy company Occidental is capturing a ton of attention with its carbon capture initiative.

Occidental’s carbon capture subsidiary, 1PointFive, recently said it’s developing a carbon capture and sequestration hub on a 55,000-acre site along the Gulf Coast in Southeast Texas. The hub will be able to hold about 1.2 billion metric tons of carbon dioxide.

The Bluebonnet Hub, expected to be operating in 2026, will be located in Chambers, Liberty, and Jefferson counties near coastal refineries, chemical plants, and manufacturing facilities. Chambers County is the Houston metro area.

“This hub is located between two of the largest industrial corridors in Texas so captured CO2 can be efficiently transported and safely sequestered,” says Jeff Alvarez, president of sequestration at 1PointFive. “Rather than starting from scratch with individual capture and sequestration projects, companies can plug into this hub for access to shared carbon infrastructure.”

Home run on emissions

Another development at 1PointFive involves the Houston Astros baseball team.

The Astros recently agreed to buy CO2 removal credits from 1PointFive’s carbon capture plant being built in Ector County, whose county seat is Odessa. Under this deal, CO2 captured by the company’s equipment will be sequestered in underground saline reservoirs that aren’t affiliated with oil and gas production.

Over the next three years, the Astros will use the removal credits to help the team achieve a carbon-neutral footprint at Minute Maid Park.

“We remain committed to continuous improvement of our stadium for our fans, and purchasing carbon removal credits is an important investment for us,” Marcel Braithwaite, senior vice president of business operations for the Astros, says in a news release.

Progress in the Permian Basin

Furthermore, 1PointFive is making progress on its carbon capture plant being developed in West Texas’ Permian Basin. The company recently tapped Orlando, Florida-based Siemens Energy to supply two compressors for the plant, which is set to capture more than 500,000 metric tons of CO2 per year.

Vicki Hollub, president and CEO of Occidental, says in a news release that the Permian Basin plant will help meet the Paris Agreement’s Paris climate change goals and reduce global emissions.

The Permian Basin facility, with an estimated price tag of $800 million to $1 billion, is on track to open by late 2024.

Are you interested in finding the best Houston tech and innovation conversations at CERAWeek this year? Look no further than this guide. Photo by Natalie Harms/InnovationMap

7+ can't-miss innovation events at CERAWeek featuring Houston speakers

where to be

If you're headed out to CERAWeek by S&P Global next week in downtown Houston, you'll want to make the most of it. Scout out Houston tech innovators at this annual energy-focused conference with this list of must-attend panels, presentations, and networking opportunities.

CERAWeek, taking place in the George R. Brown Convention Center and the Hilton Americas Hotel, is focused is on the entire energy industry, and has several themes this year — including shifting geopolitics, supply chain and infrastructure constraints, tech and innovation, future of work, and more.

Most of the innovation-themed events are organized under the Agora track. While CERAWeek is a global affair, you're sure to spot Houston-based executives, companies, and startups. Here are all the events you can't miss if learning more about Houston energy innovation is your goal.

Monday: Scaling Startups: New and efficient financial models

New startups in the energy ecosystem are providing solutions to the grand climate and climate sustainability challenges. But exciting startups need to move beyond the drawing board to eventual commercial success through necessary funding. What financial models are most successful in bringing these startups to scale?

The panel is from 12:30 to 1:10 pm on Monday, March 6. More info.

Tuesday: Chevron | Global Innovation Hubs: Where to grow your startup

The world needs a robust energy innovation ecosystem to realize decarbonization commitments. Learn about how the ecosystem’s parts are interdependent and must work together for the system to thrive and for the world to advance an energy system that’s affordable, reliable and ever cleaner.

The talk is from 2 to 2:30 pm on Tuesday, March 7. More info.

Tuesday: Gulf Coast Hydrogen Hub

With an existing ecosystem of infrastructure, producers, and consumers, the Gulf Coast has ambitions to become a global hydrogen hub. What technologies will be used? How will companies trade low-carbon hydrogen across their shared infrastructure? Join this panel to discuss how the “Energy Capital of the World” plans to lead the low carbon future.

The panel is from 5:30 to 6 pm on Tuesday, March 7. More info.

Wednesday: The Role of Private Capital in Funding the Energy Transition

While public market funds run by institutional investors have been shifting allocations toward cleantech companies, they are often hamstrung by a limited universe of pure-play cleantech equities and index-tracking methodologies that limit their ability to take longer-duration bets. The real action for energy transition investors to date has been in private equity, where funds can take duration risk and have overcome liquidity limitations by successfully raising historically large funds. The pace of private equity dealmaking, which slowed in early 2022, has accelerated sharply again for cleantech since the passage of the Inflation Reduction Act in the United States. How much of the pent-up private equity capital remains to be run through, and how will the even larger universe of public market investors gain access to these growing markets?

The event is from 7:15 to 8:20 am on Wednesday, March 8. More info.

Wednesday: Adaptation and Climate Resilience

We are witnessing a global rise in extreme weather events such as flooding, drought and heat waves. Climate change is having a variety of effects in different regions. Growing attention and investment is being directed to adaptation. What are different countries and regions doing to adapt to climate change? How will technology, policy and smart design combine to make the world more climate resilient?

The event is from 10 to 10:30 am on Wednesday, March 8. More info.

Wednesday: HETI Energy Ventures Pitch Competition

Over 15 startups and entrepreneurs will present to an audience of 1000+ investors, accelerators, and innovators for a chance to win one of many awards sponsored by Houston's energy transition community.

The event is from 10 am to 3 pm on Wednesday, March 8. More info.

Wednesday: Cities Leading the Energy Transition - World Energy Cities Partnership Mayors

Cities are at the forefront for tackling the climate and energy challenges impacting us all. Hear from the cities of Houston, Esbjerg, Perth and Calgary as they describe their visions toward a more sustainable energy plan for their communities.

The panel is from 12:30 to 1:10 pm on Wednesday, March 8. More info.

Thursday: Energy Transition Hubs: How cities are leading the charge

Increasingly, governments are transforming their communities by accelerating energy transition policies and infrastructure. Listen to how these cities are creating the blueprints for a more sustainable habitat for their citizens.

The panel is from 8:30 to 9:10 am on Thursday, March 9. More info.

BONUS: Network at these company houses

CERAWeek's Agora Partner houses exist showcase what companies are most excited about. Find your way to these three houses in between sessions to learn more about each business's tech and innovation.

  • Chevron: Back in its largest space yet, the Chevron house will highlight Chevron Technology Ventures portfolio companies, Chevron New Energies partnerships and tech experts, along with VR experiences and tech exhibits.
  • Oxy: Oxy, an international energy company based in Houston, is featuring its application of new tech, including Direct Air Capture with geologic sequestration and other CO2 utilization technologies.
  • ExxonMobil: ExxonMobil, which recently relocated its HQ to Houston, is talking about a lower-emission energy future — something that requires multiple solutions that can be implemented at scale to address some of the highest-emitting sectors of the economy.

Vicki Hollub has been appointed chairwoman of the Texas Economic Development Corp. Photo via Oxy

Houston energy exec named to statewide position

mover and shaker

Vicki Hollub, president and CEO of Houston-based oil and gas company Occidental Petroleum, has been appointed chairwoman of the Texas Economic Development Corp.

Hollub, who lives in Galveston, had been vice chairwoman of TxEDC, a privately funded nonprofit that collaborates with the state-funded Governor’s Office of Economic Development and Tourism to promote Texas as a business location. She succeeds Temple businessman Drayton McLane Jr., former owner of the Houston Astros, as chair of the Austin-based organization.

Hollub became the first woman to lead a major American oil and gas company when she was tapped as Occidental’s president and CEO in 2016. She has worked at Occidental for 35 years.

In a 2020 interview, Hollub outlined Occidental’s future as a “carbon management company.”

“Ultimately, I don’t know how many years from now, Occidental becomes a carbon management company, and our oil and gas would be a support business unit for the management of that carbon. We would be not only using [CO2] in oil reservoirs [but] capturing it for sequestration as well,” Hollub said.

Aside from elevating Hollub to the role of chairwoman, Gov. Greg Abbott has named Houston’s Mauricio Gutierrez to the TxEDC board of directors. Gutierrez is president and CEO of Houston-based NRG Energy.

Abbott’s office also made two other recent business-related announcements involving the Houston area:

  • Workforce development grants from the Texas Talent Connection program were awarded to Alvin Community College, the Bay Area Houston Advanced Technology Consortium, Capital IDEA of Houston, Lone Star College, the University of Houston – Downtown, and Volunteers of America.
  • Grants for science, technology, engineering, and math (STEM) summer youth camps were awarded to Lone Star College – Tomball, the University of Houston – Clear Lake, Brazosport College, the San Jacinto Community College District, and Houston Community College.
The United and Occidental investment arms are planning to form a joint venture to commercialize the technology. Photo courtesy of Cemvita

Houston biotech startup scores $5M to fuel sustainable aviation innovation

seeing green

Houston cleantech startup Cemvita Factory has scored a $5 million investment from United Airlines Ventures, the venture capital fund of the Chicago-based airline.

The equity investment is aimed at propelling commercialization of sustainable aviation fuel through a process involving carbon dioxide (CO2) and synthetic microbes.

Oxy Low Carbon Ventures, a subsidiary of Houston-based Occidental Petroleum that’s a founding investor in Cemvita, and United Airlines Ventures are financing the startup’s work on sustainable jet fuel. United Airlines operates a hub at George Bush Intercontinental/Houston Airport.

If that work pans out, the United and Occidental investment arms plan to form a joint venture to commercialize the technology. The joint venture might include construction of plants for the production of sustainable aviation fuel.

Sustainable aviation fuel, known as SAF, is an alternative to jet fuel that uses non-petroleum feedstock and offers lower greenhouse gas emissions.

Founded by brother-sister team Moji and Tara Karimi in 2017, Cemvita Factory relies on synthetic biology to turn carbon dioxide into chemicals and alternative fuels, including SAF. The startup, founded in 2017, is among the first companies to employ this technology to support heavy-industry decarbonization and find ways to take advantage of microbiology to convert CO2 into fuel.

“The use of SAF is a promising approach that we believe can significantly reduce global emissions from aviation and further decarbonization initiatives to combat climate change,” Richard Jackson, president of operations for U.S. onshore resources and carbon management at Occidental, says in a news release.

Cemvita is the third SAF-related startup to receive an investment from United Airlines Ventures.

The partnership among Cemvita, Occidental, and United is among many initiatives seeking to ramp up production of SAF. For instance, the U.S. Department of Energy is collaborating with the U.S. Department of Transportation, the U.S. Department of Agriculture, and other federal agencies to develop a strategy for scaling SAF technology.

The global SAF market is projected to grow from $219 million in 2021 to more than $15.7 billion by 2030, according to Research and Markets.

The International Air Transport Association says more than 370,000 flights have been fueled by SAF since 2016. Over 26.4 million gallons of SAF were produced last year.

Last month in France, aircraft manufacturer Airbus flew a A380 test jet for about three hours with one of the four engines operating solely on SAF. The three other engines ran on conventional fuel.

In December 2021, United flew a 737 MAX 8 jet from Chicago O’Hare International Airport to Washington Reagan National Airport outside Washington, D.C., with one of the two engines operating only on SAF. It was the first commercial flight with passengers aboard to use SAF in that capacity. The other engine ran on conventional fuel.

United CEO Scott Kirby, who was aboard the historic flight, said the flight was “not only a significant milestone for efforts to decarbonize our industry, but when combined with the surge in industry commitments to produce and purchase alternative fuels, we’re demonstrating the scalable and impactful way companies can join together and play a role in addressing the biggest challenge of our lifetimes.”

For now, airlines are allowed to use up SAF for up to 50 percent of the fuel on commercial flights.

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Texas female-founded companies raised billions in 2024, according to new VC data

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.

“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.

Here are 3 Houston innovators to know right now

Innovators to Know

Editor's note: These Houston innovators are making big strides in the fields of neurotechnology, neurodevelopmental diagnosis, and even improving the way we rest and recharge.

For our latest roundup of Innovators to Know, we meet a researcher who is working with teams in Houston and abroad to develop an innovative brain implant; a professor who has created an AI approach to diagnosis; and a local entrepreneur whose brand is poised for major expansion in the coming years.

Jacob Robinson, CEO of Motif Neurotech

Houston startup Motif Neurotech has been selected by the United Kingdom's Advanced Research + Invention Agency (ARIA) to participate in its inaugural Precision Neurotechnologies program. The program aims to develop advanced brain-interfacing technologies for cognitive and psychiatric conditions. Three Rice labs will collaborate with Motif Neurotech to develop Brain Mesh, which is a distributed network of minimally invasive implants that can stimulate neural circuits and stream neural data in real time. The project has been awarded approximately $5.9 million.

Motif Neurotech was spun out of the Rice lab of Jacob Robinson, a professor of electrical and computer engineering and bioengineering and CEO of Motif Neurotech.

Robinson will lead the system and network integration and encapsulation efforts for Mesh Points implants. According to Rice, these implants, about the size of a grain of rice, will track and modulate brain states and be embedded in the skull through relatively low-risk surgery. Learn more.

Dr. Ryan S. Dhindsa, Dhindsa Lab

Dr. Ryan S. Dhindsa, assistant professor of pathology and immunology at Baylor and principal investigator at the Jan and Dan Duncan Neurological Research Institute at Texas Children’s Hospital, and his team have developed an artificial intelligence-based approach that will help doctors to identify genes tied to neurodevelopmental disorders. Their research was recently published the American Journal of Human Genetics.

Dhindsa Lab uses “human genomics, human stem cell models, and computational biology to advance precision medicine.” The diagnoses that stem from the new computational tool could include specific types of autism spectrum disorder, epilepsy and developmental delay, disorders that often don’t come with a genetic diagnosis.

“Although researchers have made major strides identifying different genes associated with neurodevelopmental disorders, many patients with these conditions still do not receive a genetic diagnosis, indicating that there are many more genes waiting to be discovered,” Dhindsa says. Learn more.

Khaliah Guillory, Founder of Nap Bar

From nap research to diversity and inclusion, this entrepreneur is making Houston workers more productiveFrom opening Nap Bar and consulting corporations on diversity and inclusion to serving the city as an LGBT adviser, Khaliah Guillory is focused on productivity. Courtesy of Khaliah Guillory

Khalia Guillory launched her white-glove, eco-friendly rest sanctuary business, Nap Bar, in Houston in 2019 to offer a unique rest experience with artificial intelligence integration for working professionals, entrepreneurs and travelers who needed a place to rest, recharge and rejuvenate.

Now she is ready to take it to the next level, with a pivot to VR and plans to expand to 30 locations in three years.

Guillory says she’s now looking to scale the business by partnering with like-minded investors with experience in the wellness space. She envisions locations at national and international airports, which she says offer ripe scenarios for patrons needing to recharge. Additionally, Guillory wants to build on her initial partnership with UT Health by going onsite to curate rest experiences for patients, caregivers, faculty, staff, nurses and doctors. Colleges also offer an opportunity for growth. Learn more.

United breaks ground on $177 million facility and opens tech center at IAH

off the ground

United Airlines announced new infrastructure investments at George Bush Intercontinental Airport as part of the company’s ongoing $3.5 billion investment into IAH.

United broke ground on a new $177 million Ground Service Equipment (GSE) Maintenance Facility this week that will open in 2027.

The 140,000-square-foot GSE facility will support over 1,800 ground service vehicles and with expansive repair space, shop space and storage capacity. The GSE facility will also be targeted for LEED Silver certification. United believes this will provide more resources to assist with charging batteries, fabricating metal and monitoring electronic controls with improved infrastructure and modern workspaces.

Additionally, the company opened its new $16 million Technical Operations Training Center.

The center will include specialized areas for United's growing fleet, and advanced simulation technology that includes scenario-based engine maintenance and inspection training. By 2032, the Training Center will accept delivery of new planes. This 91,000-square-foot facility will include sheet metal and composite training shops as well.

The Training Center will also house a $6.3 million Move Team Facility, which is designed to centralize United's Super Tug operations. United’s IAH Move Team manages over 15 Super Tugs across the airfield, which assist with moving hundreds of aircraft to support flight departures, remote parking areas, and Technical Operations Hangars.

The company says it plans to introduce more than 500 new aircraft into its fleet, and increase the total number of available seats per domestic departure by nearly 30%. United also hopes to reduce carbon emissions per seat and create more unionized jobs by 2026.

"With these new facilities, Ground Service Equipment Maintenance Facility and the Technical Operations Training Center, we are enhancing our ability to maintain a world-class fleet while empowering our employees with cutting-edge tools and training,” Phil Griffith, United's Vice President of Airport Operations, said in a news release. “This investment reflects our long-term vision for Houston as a critical hub for United's operations and our commitment to sustainability, efficiency, and growth."

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