Editor's note:Let's roundup the most-read Houston innovation news from the week. Trending Houston tech and startup articles from InnovationMap and its daily newsletter included the a series A raise, promising energy tech companies, and more.
Houston superconductor tech manufacturer raises $25M
A Houston company has raised funding. Photo via Getty Images
A Houston company has closed its series B extension at $25 million.
MetOx International, which develops and manufactures high-temperature superconducting (HTS) wire, announced it closed a $25 million series B extension. Centaurus Capital, an energy-focused family office, and New System Ventures, a climate and energy transition-focused venture firm, led the round with participation from other investors.
"MetOx has developed a robust and highly scalable operation, and we are thrilled to partner with the Company as it enters this pivotal growth stage," says John Arnold, founder of Centaurus, in a news release. "The market for HTS is expanding at an unprecedented pace, with demand for HTS far outweighing supply. MetOx is poised to be the leading U.S. HTS producer, closing the supply gap and bringing dramatic capacity to high power innovations and applications. Their progress and potential are unmatched in the field, and we are proud to support their growth." Continue reading.
Houston space co. secures $4.8B NASA contract to provide communications, navigation services
Per the contract, Intuitive Machines will provide near space communications and navigation services for NASA. Photo via NASA.gov
Houston-based space exploration, infrastructure, and services company Intuitive Machines has snagged a deal with NASA that could be worth more than $4 billion.
Under the contract, Intuitive Machines (Nasdaq: LUNR, LUNRW) will supply communication and navigation services for missions in the “near space” region, which extends from the earth’s surface to beyond the moon.
The five-year deal includes an option to add five years to the contract. In total, the contract could be worth $4.82 billion. The initial round of NASA funding runs from October 2024 through September 2029.
“This contract marks an inflection point in Intuitive Machines’ leadership in space communications and navigation,” Steve Altemus, CEO of Intuitive Machines, says in a news release. Continue reading.
Houston tech hub secures $40M to meet rising data center needs
ViVa Center — located at the old Compaq headquarters — received $40 million in C-PACE financing to revitalize its facility. Rendering courtesy of ViVa Center
A technology hub in Houston has fresh funding to drive tech advancement and data center growth.
Texas’ Commercial Property Assessed Clean Energy (C-PACE) program Lone Star PACE has arranged $40 million in C-PACE financing for the revitalization of ViVa Center in Houston to help support the development of data centers that revolve around the growth of AI.
“At ViVa Center, our commitment to technological innovation and forward-thinking design drives the integration of state-of-the-art building systems,” Freddy Vaca, president of VivaVerse Solutions said in a news release. Continue reading.
10th Houston cohort named to early-stage accelerator
Meet the 10th cohort for gBETA Houston. Photo via gener8tor.com
National venture capital firm gener8tor named its 10th Houston cohort this week, which includes startups focused on innovative tableware to substitute teacher operations.
gBETA Houston offers startups and founders with a non-equity seven-week program that features intensive concierge coaching and access to a network of investors and partners. The founders will pitch their ideas on Oct. 24 at 6:30 p.m. at the Esperson Building.
"Each cohort shows us how innovation evolves and thrives," Muriel Foster, gBETA Houston director, says in a statement. "The Spring 2024 gBETA Houston cohort embodies creative brilliance and unyielding ambition." Continue reading.
2024 Houston Innovation Awards names esteemed judges for annual awards
Here's who's calling the shots for the 2024 Houston Innovation Awards. Photos courtesy
Ten Houstonians are in the hot seat for deciding the best companies and individuals in Houston's innovation ecosystem.
InnovationMap has announced its 2024 Houston Innovation Awards judging panel, which includes startup founders, nonprofit leaders, investors, corporate innovators, and more. In addition to the 10 judges, InnovationMap Editor Natalie Harms will serve as the editorial representative on the judging panel.
The selected judges will evaluate applications from the nearly 300 nominations that were submitted this year. The judges will be using their expertise to evaluate the nominees' applications, which are due to InnovationMap this week. Continue reading.