Nine research projects at Rice University have been granted $25,000 to advance their innovative solutions. Photo courtesy of Rice

Over a dozen Houston researchers wrapped up 2021 with the news of fresh funding thanks to an initiative and investment fund from Rice University.

The Technology Development Fund is a part of the university’s Creative Ventures initiative, which has awarded more than $4 million in grants since its inception in 2016. Rice's Office of Technology Transfer orchestrated the $25,000 grants across nine projects. Submissions were accepted through October and the winners were announced a few weeks ago.

The 2021 winners, according to Rice's news release, were:

  • Kevin McHugh, an assistant professor of bioengineering, is working on a method to automate an encapsulation process that uses biodegradable microparticles in the timed release of drugs to treat cancer and prevent infectious disease. He suggested the process could help ramp up the manufacture of accessible multidose vaccines.
  • Daniel Preston, an assistant professor of mechanical engineering, is developing a novel filtration system that will recover water typically released by cooling towers at natural gas power plants. The inexpensive filters will result in a significant savings in water costs during power generation.
  • Geoff Wehmeyer, an assistant professor of mechanical engineering; Matteo Pasquali, the A.J. Hartsook Professor of Chemical and Biomolecular Engineering and a professor of chemistry and materials science and nanoengineering; Junichiro Kono, the Karl F. Hasselmann Chair in Engineering, a professor of electrical and computer engineering, physics and astronomy and materials science and nanoengineering and chair of the applied physics program, and Glen Irvin Jr., a research professor in chemical and biomolecular engineering, are creating a solid-state, active heat-switching device to enable the rapid charging of batteries for electric vehicles. The lightweight device will use carbon nanotube fibers to optimize battery thermal management systems not only for cars but also, eventually, for electronic devices like laptops.
  • Xia Ben Hu, an associate professor of computer science, is developing his open-source machine learning system to democratize and accelerate small businesses’ digital transformation in e-commerce.
  • Bruce Weisman, a professor of chemistry and of materials science and nanoengineering, and Satish Nagarajaiah, a professor of civil and environmental engineering and of mechanical engineering, are working to advance their strain measurement system based on the spectral properties of carbon nanotubes. The system will allow for quick measurement of strain to prevent catastrophic failures and ensure the safety of aircraft, bridges, buildings, pipelines, ships, chemical storage vessels and other infrastructure.
  • Aditya Mohite, a professor of chemical and biomolecular engineering and associate professor of materials science and nanoengineering, and Michael Wong, the Tina and Sunit Patel Professor in Molecular Nanotechnology, a professor and chair of chemical and biomolecular engineering and a professor of chemistry, materials science and nanoengineering and of civil and environmental engineering, are scaling up novel photoreactors for the environmentally friendly generation of hydrogen. Their process combines of perovskite-based solar cells and state-of-the-art catalysts.
  • Rebekah Drezek, a professor of bioengineering, and Richard Baraniuk, the C. Sidney Burrus Professor of Electrical and Computer Engineering and a professor of statistics and computer science, are developing a system to rapidly diagnose sepsis using microfluidics and compressed sensing to speed the capture and analysis of microbial biomarkers.
  • Fathi Ghorbel, a professor of mechanical engineering and of bioengineering, is working on robotic localization technology in GPS-denied environments such as aboveground storage tanks, pressure vessels and floating production storage and offloading tanks. The system would enable robots to precisely associate inspection data to specific locations leading to efficiency and high quality of inspection and maintenance operations where regular inspections are required. This will dramatically improve the environmental impact and safety of these assets.
  • Kai Fu, a research scientist, and Yuji Zhao, an associate professor of electrical and computer engineering, are working to commercialize novel power diodes and transistors for electric vehicles. They expect their devices to reduce the volume of power systems while improving integration, power density, heat dissipation, storage, and energy efficiency.
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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.