Houston engineering firm lands $400M NASA contract

space deal

Bastion Technologies has been tapped to provide safety and mission services for NASA's Marshall Space Flight Center in Alabama. Photo via nasa.gov.

NASA has granted Houston-based Bastion Technologies Inc. the Safety and Mission Assurance II (SMAS II) award with a maximum potential value of $400 million.

The award stipulates that the engineering and technical services company provide safety and mission services for the agency’s Marshall Space Flight Center in Huntsville, Alabama, according to a release from NASA.

In the deal, Bastion’s services include system safety, reliability, maintainability, software assurance, quality engineering, independent assessment, institutional safety and pressure systems. Bastion’s work will support research and development projects, hardware fabrication and testing, spaceflight and science missions, and other activities at NASA Marshall, Michoud Assembly Facility in New Orleans, Stennis Space Center in Bay St. Louis, Mississippi, NASA’s Kennedy Space Center in Florida and various other sites.

The first base period for the SMASS II award has already begun, with the option for a base ordering period of four years to extend services through March 2034.

Bastion has been a key player in NASA’s Artemis program, and was also awarded a contract to support occupational safety, health and mission assurance at NASA’s Ames Research Center in Silicon Valley in 2024. Also in 2024, Bastion was awarded the NASA Glenn Research Center (GRC) Environmental, Safety, Health, and Mission Assurance (ESHMA) contract.

Since 1998, Bastion has held over 350 contracts at almost every NASA center and most major aerospace industry partners.

From Your Site Articles
In the last few years, the National Oceanic and Atmospheric Administration has devoted $10 million to $15 million annually to small businesses in the form of SBIR grants. Photo via Getty Images

Expert advice: Should your Houston startup apply for this lesser known SBIR grant?

guest column

Inside the Department of Commerce is a relatively small federal agency, compared to the others, call the National Oceanic and Atmospheric Administration. They too have a small business innovation research (or SBIR) program in which technology startups can have access to funds to de-risk their innovation.

Here’s what you need to know about this non-dilutive funding opportunity:

Overview of NOAA’s SBIR Program

Although the SBIR program has been around for over forty years, NOAA entered the scene in 2010 when their research and development budget reached over $100 million. Per the federal statue, they joined a host of federal agencies that were to devote 3.2 percent of that budget to small businesses.

In the last few years, NOAA has devoted $10 to $15 million annually to small businesses in the form of SBIR grants. These Phase I awards have reached $175,000 in funding for a six-month feasibility study. Follow-on Phase II awards can reach up to $650,000 for 24 months of R&D. Each year’s solicitation is generally announced near the end of the calendar year with deadlines ranging from December to March. While not exactly cyclical, anticipating these deadlines allows a company to set aside enough to prepare a proper application.

What is NOAA Looking For?

According to the NOAA’s website, “NOAA is an agency that enriches life through science. Our reach goes from the surface of the sun to the depths of the ocean floor as we work to keep the public informed of the changing environment around them.“ Their SBIR research topics have stayed consistent since 2011 with minor general topic changes. These six topics have been the same for the last two funding cycles:

  • 9.1 Extreme Events and Cascading Hazards
  • 9.2 Coastal Resilience
  • 9.3 The Changing Ocean
  • 9.4 Water Availability, Quality, and Risk
  • 9.5 Effects of Space Weather
  • 9.6 Monitoring and Modeling for Climate Change Mitigation

When analyzing past winners, which you can find online, a clear emphasis is placed on developing advanced tools for data collection, analysis, and prediction, particularly in the areas of weather forecasting, oceanic observation, and ecosystem health. Many projects involve AI and machine learning for processing large datasets to improve decision-making in disaster response, fishery management, and habitat conservation.

The recurring theme of scalability, real-time data applications, and cost-effective, sustainable solutions shows NOAA's interest in technologies that not only address immediate environmental challenges but also have broader implications for global climate and ecosystem management. Additionally, NOAA seems to value partnerships that leverage cross-disciplinary expertise, integrating cutting-edge science with practical applications.

Their grading criteria also give you some early insight into what they are interested in receiving:

  1. The scientific merit and technical approach of the proposed research (40 points)
  2. The level of innovation the proposed effort offers to the research topic area (20 points)
  3. Consideration of an application’s commercial and societal impacts and potential applications (20 points)
  4. Qualifications of the proposed principal/key investigators, supporting staff, and consultants and availability of instrumentation and physical facilities necessary to complete the proposed work (20 points)

How to Apply

Because of the previous trends, we anticipate NOAA will publish a similar list of research topics along the same lines as the last few years within the next several months. With a deadline being between December and March, it’s in your best interest to begin preparing your application now. Here are the first three early steps I’d recommend for you to get a headstart:

  • Check your eligibility
    • You must be a for-profit organization.
    • You must have fewer than 500 employees
    • You must be primarily owned by a U.S. citizen or permanent resident
    • You must not be majority owned by venture capital or private equity
  • Complete your registrations
    • System for Award Management (SAM) — registration can take over a month and must be renewed on an annual basis.
    • Small Business Association SBA — registration can take up to 90 days.
    • Grants.gov — registration typically takes between three to 10 business days.
  • Start writing your first sections
    • Develop your abstract and specific aims. If possible, schedule a meeting with a program manager from NOAA to review and provide early feedback on these early sections.

Don’t Forget About Asking for Help

Practice regular and open communication with NOAA and their SBIR program managers. Ask questions early and often to make sure you have the best chance of receiving positive feedback when you finally submit your application. I’d encourage you to find previous NOAA SBIR reviewers to do a preliminary review before your submission. Since these solicitations only come around once a year, it’s worth the time and effort to polish your application to the highest degree. If you’re worried about the time commitment of writing a 15 page application for funding, find a local grant writer (or grant writing firm) to help with application and submission process.

Finally, good luck to all you NOAA applications as you innovate in such a way to make the world a better place.

------

Robert Wegner is the director of business development for Baginski Wegner and Company (BW&CO).

Carlos Estrada, head of Venture Acceleration at BioWell, joins the Houston Innovators Podcast to share why Houston is already a great hub for bioindustrial innovation. Photo courtesy of BioWell

Houston innovator drives new accelerator toward supporting promising bioindustrial startups

HOUSTON INNOVATORS PODCAST EPISODE 238

Bioindustrial technologies have a high potential for impacting sustainability — but they tend to need a little bit more help navigating the startup valley of death. That's where the BioWell comes in.

Carlos Estrada, head of Venture Acceleration at BioWell, says the idea for the accelerator was came to First Bight Ventures, a Houston-based biomanufacturing investment firm, as it began building its portfolio of promising companies.

"While we were looking at various companies, we found ourselves finding different needs that these startups have," Estrada says on the Houston Innovators Podcast. "That's how the opportunity for the BioWell came about."

Specifically, bioindustrial companies, which are tapping into life science innovation to create more sustainable products or services, need early funding, lab space, and strategic corporate partners to help research and develop their startups.

"The very direct challenge that we are seeing is that these companies very often have to spend their funds to build out their own lab spaces," Estrada says, "so by the time they're trying to focus back on the product itself, they are starting to run out of funding."

BioWell is currently selecting its inaugural cohort and is also actively searching for its physical location to build out the program and facilities. Last year, BioWell secured $741,925 of the $53 million doled out as a part of the "Build to Scale" Grant program from the U.S. Economic Development Administration.

In addition to solving for specific challenges bioindustrial companies face, Estrada says the program will provide support for general startup and entrepreneurial guidance, like business plan development, navigating investors and grant funding, and more.

Just as First Bight Ventures was founded strategically in Houston to make the most of the local resources, the BioWell will operate out of the Bayou City — a market Estrada says has everything the industry needs.

"We have the right talent — our universities produce great researchers. We have the energy companies that are utilizing (a workforce) with transferable skills," he says on the show. "We also have the infrastructure, the square footage, and various real estate companies creating shells for lab space. We have the know how, the universities, and all at a lower cost, which plays a big role in the equation."

The GHP and HETI announced that it has signed a memorandum of understanding with Argonne National Laboratory, a a federally-funded research and development facility in Illinois. Photo by Natalie Harms/InnovationMap

Houston organization announces major partnership with DOE lab to spur energy innovation commercialization

R&D teammate

A new partnership between the Greater Houston Partnership and Argonne National Laboratory has been established to spur development of commercial-scale energy transition solutions.

The GHP and the Houston Energy Transition Initiative, or HETI, announced that it has signed a memorandum of understanding with Argonne National Laboratory, a federally-funded research and development facility in Illinois. The lab is owned by the United States Department of Energy and run by UChicago Argonne LLC of the University of Chicago.

“The U.S. Department of Energy’s national laboratories have long been the backbone of research, development, and demonstration for the energy sector," Bobby Tudor, CEO of Artemis Energy Partners and Chair of HETI, says in a news release. "The Partnership and HETI, working with our industry members, business community and top research and academic institutions, in collaboration with Argonne, will work across our energy innovation ecosystem to drive this critical effort for our region.”

The partnership, announced at HETI House at CERAWeek by S&P Global, is intended to provide resources and collaboration opportunities between Houston's energy innovation ecosystem — from corporates to startups — to "accelerate the translation, evaluation and pre-commercialization of breakthrough carbon reduction technologies," per the news release.

“A decarbonization center of excellence in Houston is the missing link in the region’s coordinated approach to advancing critical energy transition technologies needed to mitigate the risks associated with climate change, while also promoting economic growth and job creation for the region,” Tudor continues.

Established in 1946, Argonne works with universities, industry, and other national laboratories on large, collaborative projects that are expected to make a big impact on the energy transition.

“Partnerships are essential to realizing net zero goals,” Argonne Director Paul Kearns adds. “We are pleased to extend DOE national laboratory expertise and work with HETI to focus the region’s considerable energy and industrial assets, infrastructure, and talent on broad commercial deployment of needed technologies.”

------

This article originally ran on EnergyCapital.

“This breakthrough technology has the potential to reshape the landscape of disease treatment and the future of research and development in the field of cell-based therapies." Photo via Getty Images

Rice lab cooks up breakthrough 'living pharmacy' research for potential cell therapy treatment

biotech innovation

Rice University’s Biotech Launchpad has created an electrocatalytic on-site oxygenator, or ecO2, that produces oxygen intended to keeps cells alive. The device works inside an implantable “living pharmacy,” which the Rice Biotech Launch Pad team believes will one day be able to administer and regulate therapeutics within a patient’s body.

Last week, Rice announced a peer-reviewed publication in Nature Communications detailing the development of the novel rechargeable device. The study is entitled “Electrocatalytic on-site oxygenation for transplanted cell-based-therapies.”

How will doctors use the “living pharmacy?” The cell-based therapies implanted could treat conditions that include endocrine disorders, autoimmune syndromes, cancers and neurological degeneration. One major challenge standing in the way of bringing the technology beyond the theoretical has been ensuring the survival of cells for extended periods, which is necessary to create effective treatments. Oxygenation of the cells is an important component to keeping them alive and healthy and the longer they remain so, the longer the therapeutics will be helpful.

Other treatments to deliver oxygen to cells are ungainly and more limited in terms of oxygen production and regulation. According to Omid Veiseh, associate professor of bioengineering and faculty director of the Rice Biotech Launch Pad, oxygen generation is achieved with the ecO2 through water splitting that is precisely regulated using a battery-powered, wirelessly controlled electronic system. New versions will have wireless charging, which means it could last a patient’s entire lifetime.

“Cell-based therapies could be used for replacing damaged tissues, for drug delivery or augmenting the body’s own healing mechanisms, thus opening opportunities in wound healing and treatments for obesity, diabetes and cancer, for example. Generating oxygen on site is critical for many of these ‘biohybrid’ cell therapies: We need many cells to have sufficient production of therapeutics from those cells, thus there is a high metabolic demand. Our approach would integrate the ecO2 device to generate oxygen from the water itself,” says Jonathan Rivnay of Northwestern University, who co-led the study with Tzahi Cohen-Karni of Carnegie Mellon University (CMU).

The study’s co-first authors are Northwestern’s Abhijith Surendran and CMU’s Inkyu Lee.

Northwestern leads the collaboration with Rice to produce therapeutics onsite within the device. The research supports a Defense Advanced Research Projects Agency (DARPA) cooperative agreement worth up to $33 million to develop the implantable “living pharmacy” to control the human body’s sleep and wake cycles.

“This breakthrough technology has the potential to reshape the landscape of disease treatment and the future of research and development in the field of cell-based therapies. We are working toward advancing this technology into the clinic to bring it one step closer to those in need,” says Veiseh.

A Rice research team is tapping into materials science to better understand Alzheimer’s disease, a UH professor is developing a treatment for hereditary vision loss, and a BCM researcher is looking at stress and brain cancer. Photo by Gustavo Raskosky/Rice University

These 3 Houston research projects are coming up with life-saving innovations

research roundup

Research, perhaps now more than ever, is crucial to expanding and growing innovation in Houston — and it's happening across the city right under our noses.

In InnovationMap's latest roundup of research news, three Houston institutions are working on life-saving health care research thanks to new technologies.

Rice University scientists' groundbreaking alzheimer's study

Angel Martí (right) and his co-authors (from left) Utana Umezaki and Zhi Mei Sonia He have published their latest findings on Alzheimer’s disease. Photo by Gustavo Raskosky/Rice University

According to the Centers for Disease Control and Prevention, Alzheimer’s disease will affect nearly 14 million people in the U.S. by 2060. A group of scientists from Rice University are looking into a peptide associated with the disease, and their study was published in Chemical Science.

Angel Martí — a professor of chemistry, bioengineering, and materials science and nanoengineering and faculty director of the Rice Emerging Scholars Program — and his team have developed a new approach using time-resolved spectroscopy and computational chemistry, according to a news release from Rice. The scientists "found experimental evidence of an alternative binding site on amyloid-beta aggregates, opening the door to the development of new therapies for Alzheimer’s and other diseases associated with amyloid deposits."

Amyloid plaque deposits in the brain are a main feature of Alzheimer’s, per Rice.

“Amyloid-beta is a peptide that aggregates in the brains of people that suffer from Alzheimer’s disease, forming these supramolecular nanoscale fibers, or fibrils” says Martí in the release. “Once they grow sufficiently, these fibrils precipitate and form what we call amyloid plaques.

“Understanding how molecules in general bind to amyloid-beta is particularly important not only for developing drugs that will bind with better affinity to its aggregates, but also for figuring out who the other players are that contribute to cerebral tissue toxicity,” he adds.

The National Science Foundation and the family of the late Professor Donald DuPré, a Houston-born Rice alumnus and former professor of chemistry at the University of Louisville, supported the research, which is explained more thoroughly on Rice's website.

University of Houston professor granted $1.6M for gene therapy treatment for rare eye disease

Muna Naash, a professor at UH, is hoping her research can result in treatment for a rare genetic disease that causes vision loss. Photo via UH.edu

A University of Houston researcher is working on a way to restore sight to those suffering from a rare genetic eye disease.

Muna Naash, the John S. Dunn Endowed Professor of biomedical engineering at UH, is expanding a method of gene therapy to potentially treat vision loss in patients with Usher Syndrome Type 2A, or USH2A, a rare genetic disease.

Naash has received a $1.6 million grant from the National Eye Institute to support her work. Mutations of the USH2A gene can include hearing loss from birth and progressive loss of vision, according to a news release from UH. Naash's work is looking at applying gene therapy — the introduction of a normal gene into cells to correct genetic disorders — to treat this genetic disease. There is not currently another treatment for USH2A.

“Our goal is to advance our current intravitreal gene therapy platform consisting of DNA nanoparticles/hyaluronic acid nanospheres to deliver large genes in order to develop safe and effective therapies for visual loss in Usher Syndrome Type 2A,” says Naash. “Developing an effective treatment for USH2A has been challenging due to its large coding sequence (15.8 kb) that has precluded its delivery using standard approaches and the presence of multiple isoforms with functions that are not fully understood."

BCM researcher on the impact of stress

This Baylor researcher is looking at the relationship between stress and brain cancer thanks to a new grant. Photo via Andriy Onufriyenko/Getty Images

Stress can impact the human body in a number of ways — from high blood pressure to hair loss — but one Houston scientist is looking into what happens to bodies in the long term, from age-related neurodegeneration to cancer.

Dr. Steven Boeynaems is assistant professor of molecular and human genetics at Baylor College of Medicine. His lab is located at the Jan and Dan Duncan Neurological Research Institute at Texas Children’s Hospital, and he also is a part of the Therapeutic Innovation Center, the Center for Alzheimer’s and Neurodegenerative Diseases, and the Dan L Duncan Comprehensive Cancer Center at Baylor.

Recently, the Cancer Prevention and Research Institute of Texas, or CPRIT, awarded Boeynaems a grant to continue his work studying how cells and organisms respond to stress.

“Any cell, in nature or in our bodies, during its existence, will have to deal with some conditions that deviate from its ideal environment,” Boeynaems says in a BCM press release. “The key issue that all cells face in such conditions is that they can no longer properly fold their proteins, and that leads to the abnormal clumping of proteins into aggregates. We have seen such aggregates occur in many species and under a variety of stress-related conditions, whether it is in a plant dealing with drought or in a human patient with aging-related Alzheimer’s disease."

Now, thanks to the CPRIT funding, he says his lab will now also venture into studying the role of cellular stress in brain cancer.

“A tumor is a very stressful environment for cells, and cancer cells need to continuously adapt to this stress to survive and/or metastasize,” he says in the release.

“Moreover, the same principles of toxic protein aggregation and protection through protein droplets seem to be at play here as well,” he continues. “We have studied protein droplets not only in humans but also in stress-tolerant organisms such as plants and bacteria for years now. We propose to build and leverage on that knowledge to come up with innovative new treatments for cancer patients.”

Ad Placement 300x100
Ad Placement 300x600

CultureMap Emails are Awesome

Property Showcase

Houston ranks among world’s top 30 emerging startup ecosystems

Startup Status

Long known as the Energy Capital of the World, Houston also ranks among the world’s top 30 emerging startup ecosystems, according to a new report.

The report from Startup Genome, a research and advisory organization, doesn’t assign a specific numeric ranking to Houston’s startup ecosystem. Rather, it puts Houston in the ranking range of 21 to 30 for emerging ecosystems. Startup Genome weighed factors such as early-stage funding, performance and talent to identify the top emerging ecosystems.

Houston also gained notice for being one of the world’s 20 emerging ecosystems with at least four unicorn startups in the past 10 years. Houston and nine other ecosystems each had four unicorns.

According to StartupBlink, a startup research platform, Houston’s startup ecosystem grew 24 percent in 2025, with over 1,300 startups and total startup funding exceeding $808 million. StartupBlink places Houston at No. 46 among the world’s top 100 startup ecosystems.

In a recent post on LinkedIn, David Horsup, executive in residence at the Rice Alliance Clean Energy Accelerator, wrote that Houston “has all the ingredients to be wildly successful if it stays true to its differentiated pillars that drive the economy — energy, medical, and aerospace.”

Mumbai topped Startup Genome’s list of emerging ecosystems, followed by Istanbul, Madrid, Salt Lake City-Provo and Barcelona. After Salt Lake City-Provo, the top U.S. ecosystems were Phoenix, Detroit, Minneapolis and Las Vegas.

Silicon Valley led Startup Genome’s ranking of the world’s top established ecosystems, followed by New York City, London, Tel Aviv and Boston. Austin landed at No. 18 in this category and Dallas at No. 27.

“For much of the past decade, this report has chronicled the welcome dispersion of opportunity beyond the traditional hubs,” Startup Genome writes. “That trend has not died — but it has been complicated. Capital and scale are consolidating once more, particularly in the United States, and the gap between leading and emerging ecosystems is widening.”

KBR names C-suite duo to lead $5.3B government services spinoff

new leaders

In advance of the spinoff of its Mission Technology Solutions unit, Houston-based KBR has made two C-suite hires for the new business.

Michael LaRouche is coming aboard as president and CEO of the spinoff, currently called SpinCo, on Sept. 26. Nicholas Veasey is joining as executive vice president and chief financial officer on July 1.

“Michael and Nick bring a highly complementary combination of operational leadership, financial expertise, and mission-driven experience, and together they will accelerate our impact for stakeholders,” Stuart Bradie, chairman, president and CEO of publicly traded KBR, said in a news release.

LaRouche currently is CEO of Serco North America, a Herndon, Virginia-based government services contractor. Veasey most recently was CFO of MAG Aerospace, a Fairfax, Virginia-based defense contractor.

SpinCo, a government services contractor, will launch with more than $5.3 billion in annual revenue and 20,000 employees. KBR’s total headcount is around 36,000. Branding for SpinCo, including a formal name, will be revealed in July.

“SpinCo is positioned as a top-tier provider of differentiated technology solutions, anchored by deep mission expertise, global scale, and a relentless commitment to delivering for our customers,” LaRouche says.

After the spinoff, the slimmed-down KBR will focus on its Sustainable Technology Solutions business, a provider of energy and industrial technology that generated $2.5 billion in revenue in 2025. Bradie will remain chairman, president and CEO of the business.

Both SpinCo and the new KBR will be public companies. The spinoff is scheduled to be completed in January.

Experts: Houston's VC ecosystem has set the foundation — now we need scale

guest column

Fervo Energy went public earlier this summer. The Houston geothermal company priced its IPO at $27 per share, raised $1.89 billion, and opened the next morning at a market capitalization north of $10 billion. By most measures, it is the largest venture-backed cleantech IPO in history and an unambiguous win for Houston. It’s also a useful moment to look at where Houston's venture ecosystem stands and where it can go. The highlight: Houston's venture ecosystem has real foundations and, with increased company formation activity, can grow into the scale our city's ambitions deserve.

A Houston energy story in the national recovery

The recent uptick in Houston venture activity follows national trends. U.S. venture deal count contracted roughly 22 percent from its 2021 peak through 2024 before rebounding to about 16,700 rounds in 2025. Houston's 23 percent increase in VC funding from 2023 to 2024 is part of a national recovery of comparable magnitude over the same time window.

The energy sector is where Houston exhibits unique trends—and where the story turns clearly positive. (Houston's strong health and space sectors deserve their own separate consideration.) By deal count, energy-related rounds have accounted for 15 to 20 percent of Houston activity, roughly consistent over the past few years.

By capital, energy's share surged from about 14 percent in 2023 to over 60 percent in 2025, driven by a small number of large Houston-headquartered rounds, primarily in geothermal and related technologies. Fervo is the obvious anchor, but Sage Geosystems, Quaise Energy, Zeta Energy, Vaulted Deep, Applied Carbon and Mariana Minerals have all closed meaningful rounds. Houston is concentrated and accelerating as an energy capital market, an invaluable position to build upon.

From foundation to scale

The institutional pieces are in place. Greentown Labs, Activate, the Ion and others have built sector-specialized infrastructure most cities would struggle to assemble. Fervo itself is an alum of both Activate and Greentown Labs. Mercury Fund closed its $160 million Fund V, its largest ever. Houston Angel Network, GOOSE Capital, Fathom Fund, and broader pre-seed and seed capital coverage are here. The Houston $10 million-plus Series A list now includes 40 rounds since 2021, which break roughly into two eras. While 2021 to 2022 was biotech-heavy, with companies like Sporos Bioventures, RadioMedix, Cellenkos and Coya Therapeutics, 2024 to 2025 has tilted clearly toward energy, climate, and critical minerals, with Vaulted Deep, Applied Carbon, Mariana Minerals, Sage Geosystems and Ignis H2 Energy among them.

What’s less developed is the volume of seed-stage companies flowing into that capital. Imagine a dozen more Fervos coming out of that infrastructure over the next decade, each generating jobs, recycled founder capital, and the next wave of operators and angel investors. That is the kind of opportunity Houston has within reach if we build the company-formation pipeline to feed it. To be relevant on the national stage as a venture market, and to drive an economy the size of Houston's into the 2030s, the city needs to be doing closer to 20 Series A rounds per month rather than per year. That throughput implies roughly 1,000 seed rounds per year, feeding the funnel at a 20 percent to 30 percent graduation rate. Reaching such throughput depends on how many new founders Houston produces and how quickly our innovation ecosystem can help them achieve lift-off.

Houston in context

The comparative picture brings the scaling challenge into focus. Between 2021 and 2024, Houston-area startups closed between 126 and 153 disclosed venture rounds per year, against a national count between 9,854 and 14,125. That places Houston at a little over 1 percent of the U.S. deal count. For comparison, Austin ran about three times Houston's deal count each year.

At the Series A level, Houston closed between 12 and 24 rounds in any given year. The median Houston Series A across the period was about $10.7 million, compared with $15.4 million in San Francisco. Houston founders are raising fewer and smaller Series A rounds than founders in peer metros, which points directly to where Houston has the most room to grow.

The unicorn picture tells the same story. From 2021 through 2025, the U.S. produced 590 venture-backed unicorns. Four were Houston-based: Solugen and Axiom Space in 2021, Cart.com in 2023, and Fervo Energy in 2024. Adding HighRadius from 2020 brings Houston's all-time total to five. Austin added 19 over the same five-year window. The path from here is to make Houston's entries on lists like these less the exception and more the rule.

Where this leads

Houston has a real opportunity to become the deepest, most credible energy and climate capital market in the country, with the company formation, talent and operator density to support it. The data shows the foundation is already in place. Fervo, Solugen and the growing roster of energy-adjacent Series A graduates are proof. Fervo's IPO is the first of what should be many. Houston has not had a venture-backed cleantech liquidity event of this scale before, and the city now has one to reference, recruit against and build on. With increased company formation at the seed and pre-seed stages, a Fervo-scale outcome need not be a generational event in Houston, but instead, it can become part of a chain reaction powering the city's economy.

---

Stephanie T. Schmidt, PhD, is the founder of a stealth startup, a Venture Fellow at Energy Transition Ventures, and an Executive MBA candidate at Rice University's Jones Graduate School of Business. Lawson Gow is the Chief Operating Officer of Greentown Labs. The full Houston VC landscape report is available at Energy Transition Ventures and CleanTech.Org.

Sources: Crunchbase, PitchBook-NVCA, Carta
View All Listings