The Bookout Center will focus on enhancing the use of robotics and imaging in medicine. Photo via Houston Methodist

A groundbreaking new institution is coming to Houston Methodist.

The Bookout Center will build on the success of the Houston Methodist Institute for Technology, Innovation and Education (MITIE).

The new center will focus on enhancing the use of robotics and imaging in medicine. Virtual reality, robotics, AI, and other technologies will all play a part in the support that The Bookout Center will provide for health care professionals at all levels and specialties. High-resolution imaging and diagnostics will also be part of the forward-thinking research center.

The Bookout Center, which will be housed in the Houston Methodist Academic Institute, is the result of an undisclosed donation amount from Ann and John F. Bookout III. At the age of 100, John’s father, also named John Bookout, is an active Houston Methodist Board member and served as its chair from 1991 until 2007.

“We’re excited and humbled to have the support of the Bookout family,” Marc L. Boom, president and CEO of Houston Methodist, says in a press release. “The Bookouts believe in what our physicians, researchers and scientists do to bring life-changing treatments to our patients and community, and this gift will help us build on our legacy of leading medicine. We are so very grateful for this gift.”

A medical director for The Bookout Center has already been named. The role will be filled by Alan Lumsden, the Walter W. Fondren III Presidential Distinguished Chair in the Houston Methodist DeBakey Heart & Vascular Center and Chair of the Department of Cardiovascular Surgery. Dr. Lumsden will work alongside Dr. Stuart Corr, newly appointed director of Innovation Engineering for The Bookout Center, and associate professor of Bioengineering, to develop, implement, and lead the center’s activities.

"The Bookout Center will complement our existing programs with robust research, clinical trials and the expertise to develop further innovation in these fields,” Lumsden says. “We are grateful to the Bookouts for giving us the opportunity to lead the world in developing and refining these life-saving technologies, which will continue to improve outcomes and recovery times for patients.”

The new institute will be run by director Alan Lumsden, the Walter W. Fondren III Presidential Distinguished Chair in the Houston Methodist DeBakey Heart & Vascular Center and Chair of the Department of Cardiovascular Surgery. Photo via TMC.edu

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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.