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5 most popular innovation stories in Houston this week

Rice University naming the finalists of its on-campus student startup competion . Photo courtesy of Rice University

Editor's note:Another week has come and gone, and it's time to round up the top headlines from the past few days. Trending Houston tech and startup news on InnovationMap included innovators to know, startups and VC firms announcing new hires, Rice University naming the finalists of its student startup competition, and more.

3 Houston innovators to know this week

This week's roundup of Houston innovators includes Allie Danziger of Ampersand, Wesley Okeke of CUBIO, and Libby Covington of The Craig Group. Courtesy photos

Editor's note: In this week's roundup of Houston innovators to know, I'm introducing you to three local innovators across industries — from health tech to future of work — recently making headlines in Houston innovation. Click here to continue reading.

Rice University startup pitch competition names 6 finalists

These six finalists of The H. Albert Napier Rice Launch Challenge Championship will pitch on April 20. Photo courtesy of Rice University

Six student-founded startups are headed to the finals of a Rice University pitch competition — and this round is where the money is on the line.

The H. Albert Napier Rice Launch Challenge, open to undergraduate or graduate students in the spring as well as alumni in the summer, started in 2017 with 15 student-run companies vying for a win. The 2022 edition saw participation from almost 200 students and a record 84 teams. The Liu Idea Lab for Innovation and Entrepreneurship whittled those entries down and, after the first round of judging on March 24, six teams are headed the the finals.

The startups will make their pitches in-person at Rice University on Wednesday, April 20, starting at 5:30 pm and compete for over $75,000 in equity free funding. Click here to continue reading.

10+ can't-miss Houston business and innovation events for April

Check out these conferences, pitch events, networking, and more happening in Houston in the month of April. Photo via Getty Images

After a very busy March, Houston innovators might need to prepare for another month of networking opportunities. Here's a rundown of what all to throw on your calendar for April. Click here to continue reading.

Houston oil and gas company reveals details on $1B carbon capture facility

Oxy is working on a direct air carbon capture facility in the Permian Basin — and is committing to up to a $1 billion price tag for the project. Rendering via 1pointfive.com

Ramping up its investment in clean energy, Houston-based Occidental Petroleum plans to spend up to $1 billion on a facility in the Permian Basin that will pull carbon dioxide from the air.

During a March 23 investor update, executives at Occidental laid out their strategy for developing direct air carbon capture plants and carbon sequestration hubs.

Executives said Occidental’s first direct air capture facility is set to be built in the Permian Basin, a massive oil-producing region in West Texas and southeastern New Mexico. The industrial-scale facility, with an estimated price tag of $800 million to $1 billion, is on track to open in late 2024. Construction is supposed to start later this year.

Occidental expects as many as 135 of its direct air carbon capture plants to be operating by 2035. Click here to continue reading.

3 Houston organizations announce strategic appointments across biotech and VC

Here are three of the latest updates on new execs and advisory appointments from two Houston startups and a local venture group. Photo via Getty Images

Five Houston innovators have new roles they're excited about this spring. From new advisory board members to c-level execs, here's who's moving and shaking in Houston innovation. Click here to continue reading.

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Building Houston

 
 

With fresh funding, this Houston and Canada-based company has made an acquisition. Courtesy of Validere

After raising $43 million in funding for its series B round, Validere, a commodity management platform for the energy industry, has acquired Clairifi, whose technology helps energy businesses comply with environmental and regulatory requirements. Financial terms weren’t disclosed.

The funding round was closed in March and was led by Mercuria Energy and select funds and accounts managed by BlackRock, with participation from Nova Fleet, Pioneer Fund and NGIF Cleantech Ventures, as well as existing investors, including Wing VC and Greylock Partners, according to a news release.

“Validere’s mission is to ensure human prosperity through energy that is plentiful, sustainable and efficiently delivered," says Nouman Ahmad, Validere co-founder and CEO. "We facilitate this through integrating our customers’ core business with new environmental initiatives. In order to manage the energy transition well, environmental attributes cannot be managed in a silo, they need to be integrated in the day-to-day operations and commercial decisions."

Validere is based in Calgary, Alberta, and has its United States presence based in Houston. Clairifi also is based in Calgary. According to the company, the purchase of Clairifi strengthens Validere’s ESG (environmental, social, and governance) offerings.

“Companies across the energy supply chain are often burdened by the arduous task of compliance reporting, a time-intensive process that is usually performed manually in Excel spreadsheets by costly environmental consultants,” Validere says in a news release announcing the Clairifi deal. “These issues are coupled with constantly changing environmental, social and governance (ESG) policies, as well as disorganized data, which can cause confusion over meeting reporting requirements.”

Validere says that thanks to the integration of Clairifi, businesses can easily comply with current and future regulations from the U.S. Securities and Exchange Commission (SEC), and can access a central platform to accurately measure, manage, and forecast emissions strategies.

“The implementation of costs on carbon and emission reduction requirements introduce new immediate and long-term consequences that cascade from the field to head office,” says Corey Wood, co-founder and CEO of Clairifi. “While regulatory compliance is often considered a burden on industry, requiring resources and continuous innovation, if we are well-prepared, these challenges may be used as catalysts to revive, refresh and improve.”

As part of the acquisition, Wood has joined Validere as vice president of emissions, regulatory, and carbon strategy.

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