MACE Virtual Labs and Houston Community College teamed up to create a new virtual reality lab at the HCC West Loop campus. Photo via hccs.edu

Earlier this month, Houston Community College opened its new virtual reality lab at its HCC West Loop campus.

The new space comes from a partnership between HCC Southwest and Houston-based MACE Virtual Labs — an extended reality software company. The $175,000 facility boasts VR stations, flat-screen monitors, Telsasuits, VR headsets and motion-activated car driving simulators, according to a news release, and is a rare concept within higher education, says Sean Otmishi, dean of HCC Digital and Information Technology Center of Excellence, in the release.

"This puts us in an area where few other (educational) institutions have gone," Otmishi says. "We're at the forefront. We are the global leaders."

VR concepts are at the forefront of innovation, says HCC Chancellor Cesar Maldonado, and the technology is being used as a cheaper, safer training process.

"Higher education has always been at the cutting edge of new technologies, driving development and creating the next generation of scientists, developers and entrepreneurs," says Maldonado in the release. "Virtual and augmented reality technologies are at the front of development right now and change is happening at a frenetic pace."

The VR lab, which opened December 5, is not just a benefit to the school system, but it also represents a win for the greater Houston community — especially when it comes to this opportunity for training, says Madeline Burillo-Hopkins, president of HCC Southwest, in the release.

"This VR lab brings to Houston companies access to the latest technology for professional development of their incumbent workers," she says. "Through this partnership with MACE Labs, HCC can provide customized training using the latest VR technology available overseas until now."

MACE Virtual Labs, which is based just north of the Heights, was founded in 2017 and provides software and hardware for various VR purposes.

"This is the equipment of the future," says Josh Bankston, a partner in MACE Virtual Labs. "It makes really good sense, both philanthropically and businesswise, to create a partnership with HCC that puts this equipment in the hands of the students and the faculty which will benefit everyone, from education to the workforce and beyond."

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Houston quantum energy chip startup emerges from stealth with $12M round

seed funding

Houston-based Casimir has emerged from stealth with a $12 million seed round to commercialize its quantum energy chip.

The round was led by Austin-based Scout Ventures. Lavrock Ventures, Cottonwood Technology, Capital Factory, American Deep Tech, and Tim Draper of Draper Associates also participated in the round. The oversubscribed round exceeded the company’s original $8 million target, according to a news release.

Casimir’s semiconductor chips can generate power from quantum vacuum fields without the need for batteries or charging. The company plans to commercialize its first-generation MicroSparc chip by 2028.

The MicroSparc chip measures 5 millimeters by 5 millimeters and is designed to produce 1.5 volts at 25 microamps, comparable to a small rechargeable battery, without degradation and no replacement cycle.

“Casimir represents exactly the kind of breakthrough dual-use technology Scout Ventures was built to back,” Brad Harrison, founder and managing partner at Scout Ventures, said in the release. “This is based on 100 years of science and we’re finally approaching a commercial product … We’re proud to lead this round and support Casimir’s journey from applied science to deployed technology.”

Casimir says it aims to scale its technology across the ”full power spectrum,” including large-scale energy systems that can power homes, commercial infrastructures and electric vehicles.

Casimir's scientific work has been supported by DARPA-funded nanofabrication research and its technology was incubated at the Limitless Space Institute (LSI). LSI is a nonprofit that works to innovate interstellar travel and was founded by Kam Ghaffarian. Technology investor and serial entrepreneur Ghaffarian has been behind companies like X-energy, Intuitive Machines, Axiom Space and Quantum Space.

Harold “Sonny” White, founder and CEO of Casimir, believes the technology can power devices for years without replacements.

“Millions of devices will operate for years without a battery ever needing to be replaced or recharged because we have engineered a customized Casimir cavity into hardware capable of producing persistent electrical power,” White added in the release. “I spent nearly two decades at NASA studying how we power humanity’s future. That work led me to the Casimir effect and the quantum vacuum, where new tools have allowed us to build on a century of scientific knowledge and bring abundant power to the world.”

Houston-based Fervo Energy bumps up IPO target to $1.82 billion

IPO update

Houston-based geothermal power company Fervo Energy is now eyeing an IPO that would raise $1.75 billion to $1.82 billion, up from the previous target of $1.33 billion.

In paperwork filed Monday, May 11 with the U.S. Securities and Exchange Commission, Fervo says it plans to sell 70 million shares of Class A common stock at $25 to $26 per share.

In addition, Fervo expects to grant underwriters 30-day options to buy up to 8.33 million additional shares of Class A common stock. This could raise nearly $200 million.

When it announced the IPO on May 4, Fervo aimed to sell 55.56 million shares at $21 to $24 per share, which would have raised $1.17 billion to $1.33 billion. The initial valuation target was $6.5 billion.

A date for the IPO hasn’t been scheduled. Fervo’s stock will be listed on Nasdaq under the ticker symbol FRVO.

Fervo, founded in 2017, has attracted about $1.5 billion in funding from investors such as Bill Gates-founded Breakthrough Energy Ventures, Google, Mitsubishi Heavy Industries, Devon Energy (which is moving its headquarters to Houston), Tesla co-founder JB Straubel, CalSTRS, Liberty Mutual Investments, AllianceBernstein, JPMorgan, Bank of America and Sumitomo Mitsui Trust Bank.

Fervo’s marquee project is Cape Station in Beaver County, Utah, the world’s largest EGS (enhanced geothermal system) project. The first phase will deliver 100 megawatts of baseload clean power, with the second phase adding another 400 megawatts. The site can accommodate 2 gigawatts of geothermal energy. Fervo holds more than 595,000 leased acres for potential expansion.

Cape Station has secured power purchase agreements for the entire 500-megawatt capacity. Customers include Houston-based Shell Energy North America and Southern California Edison.

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