Houston energy startup wins Ion's annual showcase, pitch competition

1st place

Houston-based WellWorth was selected as the winner of this year’s Houston Startup Showcase. Photo courtesy of the Ion

The Ion hosted its annual startup pitch competition, and one company walked away with a win.

WellWorth, a financial modeling and analysis software-as-a-service company for the upstream energy sector, won the Houston Startup Showcase + Expo and secured a $5,000 prize. The startup's technology introduces a more streamlined approach to NAV modeling or corporate financial modeling for its users.

“Having worked in investment banking, I have seen firsthand how the limitations of Excel models and a lack of bespoke tools have led to inefficient workflows in upstream Oil & Gas finance," says Samra Nawaz, CEO and Co-founder of WellWorth, in a statement. "We decided to solve this problem by building a cloud-based platform that helps energy finance leaders improve decision-making around raising, managing, and deploying capital.”

Nawaz explains how impactful the opportunity to pitch has been on WellWorth, which aims to raise funding early next year accelerate customer acquisition and product development.

“By getting involved in the Ion’s innovation ecosystem, we’ve been able to not only network with many entrepreneurs and innovators in the Houston community, but also find opportunities to scale our growth,” continues Nawaz. “We’re thrilled to have brought a few more customers onboard recently, and are working closely with them to optimize our product pipeline."

The company pitched alongside the other five finalists, which included Tierra Climate, MRG Health, BeOne Sports, Trez, and Mallard Bay. Mallard Bay, a booking platform for hunting and fishing trips, secured the people's choice award, which was decided by the crowd.

“Our flagship event, Houston Startup Showcase, not only connects startups and entrepreneurs with top business leaders but also provides them an opportunity to pitch their innovations to the technology ecosystem,” says Jan Odegard, executive director of the Ion, in a news release. “We extend our congratulations to WellWorth and the company’s innovative SaaS platform for energy industry finance teams, as well as Mallard Bay, the People’s Choice winner. These companies are exemplifying the exciting new technologies being developed in Houston today.”

In addition to the pitches, several companies showcased at the event, including Nanotech, manufacturer of thermal management materials for the built environment; last year's winner Unytag, a universal toll tag that provides drivers the ability to pass through tolls anywhere in the nation; and Softeq, provides early-stage innovation, technology business consulting, and full-stack development solutions to enterprise companies and innovative startups.

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This article originally ran on EnergyCapital.

This week's roundup of Houston innovators includes Stephanie Tsuru of SheSpace, Fareed Zein of Unytag, and Libby Covington of The Craig Group. Photos courtesy

3 Houston innovators to know this week

who's who

Editor's note: In this week's roundup of Houston innovators to know, I'm introducing you to three local innovators across industries — from smart city tech to startup marketing — recently making headlines in Houston innovation.

Stephanie Tsuru, founder of SheSpace

Stephanie Tsuru joins this week's Houston Innovators Podcast to share her growth plans for 2023. Photo via LinkedIn

SheSpace opened with a splash, Founder Stephanie Tsure tells InnovationMap on last week's episode of the Houston Innovators Podcast. After surviving through the pandemic, the female-focused coworking hub expanded — with a new type of membership as well as physically.

"We had so many people who wanted to be a part of the community — so we started a social networking group," she says.

Now, the entrepreneur is looking to expand this year to open satellite locations. She shares more on the show. Read more.

Fareed Zein, founder of Unytag

Unytag celebrated a big win at the Ion recently — and has taking its prizes into the new year. Photo via LinkedIn

As the father of four competitive-tennis-playing daughters, Fareed Zein spent years driving “from California to Florida,” he says. Throughout those years, he and his wife racked up toll violation after toll violation. “I thought, there’s got to be an easier way,” he recalls.

Fortunately, Zein wasn’t just any sports dad with thousands of miles on his car. The University of Texas grad put in 26 years developing IT systems at Shell. He retired from that role in 2015, which allowed him to spend more time on the road with his youngest daughter, now playing for UT Austin. In 2019, he used his technology expertise to start Unytag, a company focused on making it easier to drive around the country as the Zein family had so many times.

Unytag is a system that allows users to trash their multiple toll tags in favor of just one RFID (radio-frequency identification) sticker and an app. The app, which Zein says is currently in its testing phase, will be available on both IOS and Android phones in the second half of the year.

“A phone is a device everyone has nowadays, right?” says Zein. “Just like you use your phone to pay for a latte at Starbucks, we are going to simplify how you pay tolls.” Read more.

Libby Covington, partner at The Craig Group

It's undeniable that businesses are facing economic uncertainty in 2023. Here's what marketing tools to tap into to navigate the challenges ahead. Photo via LinkedIn

Make 2023 the year of optimized marketing for your startup — that's Libby Covington's advice. Partner at The Craig Group, she outlined her tips in a guest column for InnovationMap.

"Continued growth starts with goal setting and coming up with a marketing and business development strategy that fits the unique needs of a business," she writes. "This works most effectively when a company’s management team ensures that marketing and sales are working in lockstep. They are two sides of the same coin and need to see themselves that way to maximize results and therefore profit." Read more.

Unytag celebrated a big win at the Ion recently — and has taking its prizes into the new year. Photo via Ion/Facebook

Houston startup with innovative transportation app gets boost from pitch competition

tag, you're it

How many times have you accidentally taken a toll road without a tag? Or traveled to a part of the country where the toll system is different than the one for which you already paid up?

As the father of four competitive-tennis-playing daughters, Fareed Zein spent years driving “from California to Florida,” he says. Throughout those years, he and his wife racked up toll violation after toll violation. “I thought, there’s got to be an easier way,” he recalls.

Fortunately, Zein wasn’t just any sports dad with thousands of miles on his car. The University of Texas grad put in 26 years developing IT systems at Shell. He retired from that role in 2015, which allowed him to spend more time on the road with his youngest daughter, now playing for UT Austin. In 2019, he used his technology expertise to start Unytag, a company focused on making it easier to drive around the country as the Zein family had so many times.

Unytag is a system that allows users to trash their multiple toll tags in favor of just one RFID (radio-frequency identification) sticker and an app. The app, which Zein says is currently in its testing phase, will be available on both IOS and Android phones in the second half of the year.

“A phone is a device everyone has nowadays, right?” says Zein. “Just like you use your phone to pay for a latte at Starbucks, we are going to simplify how you pay tolls.”

Another beauty of the Unytag system is that — rather than depositing a set amount as users do for most toll systems — it’s pay-as-you-go. Funds are withdrawn by Unytag just as they are needed. And it works for every toll tag in the country, with plans to expand globally.

Though Zein brought technical chops to Unytag, he still had to learn to be a founder. He credits his time participating in the Founder Institute’s pre-seed accelerator with helping him to launch from the ground up.

“From there, I decided I needed to start building the infrastructure that I needed,” Zein recalls.

Next, he worked with the Texas Venture Labs accelerator and was named a finalist at the 2022 Houston Innovation Awards Gala. Most recently, Unytag won last November’s Houston Startup Showcase, with a prize of $10,000 from The Ion and $20,000 in legal services from Ion partner Baker Botts.

“That was a pretty big confidence builder that we are going in the right direction as well as a great way to start the year for us,” Zein says.

Opportunities like those are a just some of what Zein says makes him proud to be a “Houston born and raised” company. With his extended network built over 32 years living in the Houston area, Zein says, he’s had many opportunities for growth that he might not have found elsewhere. Two of his current team members were colleagues at Shell.

“Having an ecosystem that supports innovation is exactly what we needed,” he adds. “We are very proud of the future of tech startups in Houston with The Ion and the Innovation District, where we continue to grow. We’re ready to create the next success story.”

Fareed Zein has racked up his fair share of toll bills — and he designed a better way. Photo courtesy of Unytag

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Persona AI teams with Under Armour to protect next-gen robots

Future Fabrics

Houston-based Persona AI has cemented a partnership with sportswear manufacturer Under Armour to provide materials to protect future robots operating in dangerous conditions.

Through the partnership, Persona AI and Under Armour will launch a research initiative to explore whether advanced performance textiles can improve the durability and resilience of humanoid robots operating in harsh industrial environments.

“This is an opportunity to apply our innovation expertise in a new context,” Kyle Blakely, senior vice president of innovation, design studio, development, and testing at Under Armour, said in a news release. “Robotics presents a fascinating new design challenge, and we aim to play a leading role in shaping performance solutions for these environments. As humanoid systems take on more physically demanding roles, we see real potential to create new market opportunities, and we’re exploring how concepts like thermal management, abrasion resistance, and flexibility translate beyond sport."

Founded in June 2024 by former NASA engineer Nicolaus Radford and former Figure AI CTO Jerry Pratt, Persona AI has quickly risen to be a top name in the development of humanoid robotic systems. Radford previously was the principal investigator at NASA’s Dexterous Robotics Lab before becoming CEO of Nauticus Robotics. While at NASA, he was the chief engineer behind Robotnaut 2, the first humanoid robot on the International Space Station.

Persona AI raised $25 million in preseed funding to develop humanoid robots designed to operate in shipyards and other industrial sites. The company has inked partnerships with HD Korea Shipbuilding & Offshore Engineering, HD Hyundai Robotic, and Korean manufacturing firm Vazil Company to create and deploy humanoid robots for complex welding tasks in shipyards.

These environments often involve exposure to dangerous chemicals, harsh weather and other potential hazards. The partnership between Persona AI and Under Armour will combine the clothing manufacturer’s development of resilient but flexible materials with the humanoid design of Persona AI.

Though best known for its sportswear, Under Armour produces a wide range of specialist fabrics and clothing, including an entire line used by the U.S. military. The company’s track record of developing high-performance fabrics built to withstand war zones and desert conditions makes it a strong partner in Persona AI’s latest endeavor.

“We chose to work with Under Armour because of their track record of innovation with these types of performance materials,” Radford said. “As we develop humanoids for intense and potentially hazardous environments, this collaboration helps us understand how advanced materials can enhance long-term reliability, thereby informing solutions to better protect workers in the field.”

Global summit spotlights Houston's growing role in brain health, innovation

where to be

The Center for Houston’s Future and UTMB are bringing the Texas Brain Economy Summit back to Houston this summer to continue to position the region as a global leader in brain health.

The summit, held June 9-10 at the Texas Medical Center's Helix Park, will bring together more than 500 executives, researchers, policymakers and innovators from around the world to discuss the global brain economy.

Attendees can expect to hear from leaders of global institutions, including the World Economic Forum, U.S. Chamber of Commerce, McKinsey Health Institute, Global Brain Economy Initiative, Davos Alzheimer’s Collaborative, Business Collaborative for Brain Health (UsAgainstAlzheimer’s), Rice University, Memorial Hermann, MD Anderson and many others.

Day 1 of the conference will focus on "Enabling Human Flourishing & Economic Growth." Day 2 will focus on "Scaling Innovation & AI Solutions in the Brain Economy."

Keynotes will be delivered by:

  • Lexi Branson, vice president of health policy at the U.S. Chamber of Commerce
  • Kana Enomoto, director of the McKinsey Health Institute
  • Megan Henshall, founder of Google Experience Institute (Xi)
  • Ryan Howard, co-lead of Google Experience Institute (Xi)
  • Dr. Hani Jneid, John Sealy Distinguished Centennial Chair in Cardiology and vice president of cardiovascular operations at UTMB
  • Steve Kean, president and CEO of the Greater Houston Partnership
  • Dan Patrick, Lieutenant Governor of Texas
  • Jochen Reiser, president of UTMB
  • Thomas Seitz, senior partner of the McKinsey Health Institute

Other significant speakers include:

  • Rym Ayadi, founder and president of the Euro-Mediterranean Economists Association (EMEA) and co-founder of the Brain Capital Alliance
  • Arthur Evans, CEO and executive vice president of the American Psychological Association
  • David Gow, president and CEO of the Center for Houston’s Future (Gow is the founder and chairman of Gow Media, InnovationMap's parent company)
  • Bill McKeon, president and CEO of the Texas Medical Center
  • Jeff Merritt, head of urban transformation at the World Economic Forum
  • Joanne Pike, president and CEO of the Alzheimer’s Association
  • George Vradenburg, founding chairman of Davos Alzheimer’s Collaborative and co-founder, chairman and CEO of Us Against Alzheimer’s

The event is supported through Project Metis, which was launched by the Center for Houston’s Future last year. Led by Rice Brain Institute, The University of Texas Medical Branch's Moody Brain Health Institute and Memorial Hermann’s comprehensive neurology care department, the initiative aims to advance the understanding, prevention and treatment of the brain. It was developed on the heels of Texas voters overwhelmingly approving a ballot measure to launch the $3 billion, state-funded Dementia Prevention and Research Institute of Texas (DPRIT).

“Texas voters, by approving the state-funded Dementia Prevention Institute, have shown a strong commitment to brain health, as scientific advances continue daily. [Project Metis] aims to harness the Houston region’s unique strengths: its concentration of leading medical and academic institutions, a vibrant innovation ecosystem, and a history of entrepreneurial leadership in health and life sciences,” Gow said at the time.

Learn more about The Texas Brain Economy Summit and purchase tickets here.

Texas solar power poised to surpass coal for the first time in 2026

Powering Texas

Solar power promises to shine even brighter in Texas this year.

A new forecast from the U.S. Energy Information Administration (EIA) indicates that for the first time, annual power generation from utility-scale solar will surpass annual power generation from coal across the territory covered by the Electric Reliability Council of Texas (ERCOT).

Solar generation is expected to reach 78 billion kilowatt-hours in 2026 in the ERCOT grid, compared with 60 billion kilowatt-hours for coal, the EIA forecast says. The ERCOT grid supplies power to about 90 percent of Texas, including the Houston area.

“Utility-scale solar generation has been increasing steadily in ERCOT as solar capacity additions help meet rapid electricity demand growth,” the forecast says.

Although natural gas remains the dominant source of electricity generation in ERCOT, accounting for an average 44 percent of electricity generation from 2021 to 2025, solar’s share of the generation mix rose from four percent to 12 percent. During the same period, coal’s share dropped from 19 percent to 13 percent.

EIA predicts about 40 percent of U.S. solar capacity, or 14 billion kilowatt-hours, added in 2026 will come from Texas.

Although EIA expects annual solar generation to exceed annual coal generation in 2026, solar surpassed coal in ERCOT on a monthly basis for the first time in March 2025, when solar generation totaled 4.33 billion kilowatt-hours and coal’s totaled 4.16 billion kilowatt-hours. Solar generation continued to exceed that of coal until August of that year.

“In 2026, we estimate that solar exceeded coal for the first time in March, and we forecast generation from solar installations in ERCOT will continue to exceed that from coal until December, when coal generation exceeds solar,” says EIA. “We expect solar generation to exceed that of coal for every month in 2027 except January and December.”

For 2027, EIA forecasts annual solar generation of 99 billion kilowatt-hours in the ERCOT grid, compared with 66 billion kilowatt-hours of annual coal generation.

In April, ERCOT projected almost 368 billion kilowatt-hours of demand in ERCOT’s territory by 2032. ERCOT’s all-time peak demand hit 85.5 billion kilowatt-hours in August 2023.

“Texas is experiencing exceptional growth and development, which is reshaping how large load demand is identified, verified, and incorporated into long-term planning,” ERCOT President and CEO Pablo Vegas said. “As a result of a changing landscape, we believe this forecast to be higher than expected … load growth.”

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This article first appeared on EnergyCapitalHTX.com.

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