Q&A

From NASA to HVAC: How this Houston tech startup is revolutionizing energy-efficient air conditioning

Rawand Rasheed, the CEO and founder of Helix Earth Technologies, joins the Energy Tech Startups podcast. Photo via LinkedIn

Excessive energy consumption in air conditioning systems is a pressing issue with far-reaching implications for carbon emissions and climate change.

Rawand Rasheed, the CEO and founder of Helix Earth Technologies, is at the forefront of addressing this challenge. With a distinguished background as an aerospace engineer with NASA, Rawand’s expertise is now channeled towards the built environment and heavy industries.

In a recent episode of Energy Tech Startups, we dive into how Rawand’s journey from space technology innovations is now revolutionizing energy consumption in air conditioning systems.


In an era where the urgency to combat climate change is palpable, innovators like Rawand Rasheed are making monumental strides in bridging the gap between space-age technology and sustainable solutions for our planet. Drawing from her unique experiences at NASA and her unwavering commitment to the environment, Rawand's work with Helix Earth Technologies exemplifies the transformative potential of cross-disciplinary expertise. As we witness the evolution of her groundbreaking technology in the HVAC sector, it serves as a potent reminder that with determination, innovation, and a clear vision, we can indeed reshape our world for the better. The future of energy-efficient air conditioning, and by extension, a more sustainable world, is on the horizon, and pioneers like Rawand are leading the way.

Energy Tech Startups: How did your experience at NASA inspire your work in decarbonization and HVAC?

Rawand Rasheed: At NASA, we often faced unique challenges that required innovative solutions, especially in space. One such challenge was fighting fires in space using a micrometer-sized droplet spray of water. This led us to develop an efficient filter that could capture these small droplets without any moving parts. This technology, initially designed for space, turned out to have significant implications for climate tech, particularly in capturing and filtering air streams.

ETS: How does your technology help in reducing energy consumption in air conditioning systems?

RR: Our technology can significantly reduce air conditioning energy loads, cutting them by over 50%. It works by absorbing more from air streams, making the cooling process more efficient. Currently, we're focusing on commercial HVAC systems and are close to scaling our system to a commercial unit. Within the next year, we aim to demonstrate the effectiveness of our system at this scale through pilot projects.

ETS: How did your early life shape your entrepreneurial aspirations?

RR: Growing up, I witnessed firsthand the power of determination and hard work. Starting from scratch, both culturally and financially, and achieving success made me believe that anything is possible. This belief, combined with my passion for the environment and engineering, always fueled my desire to start a company. My graduate studies further solidified this aspiration, merging my interests and leading me to establish my own venture in the realm of environmental engineering.


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This conversation has been edited for brevity and clarity. Click here to listen to the full episode. Hosted by Jason Ethier and Nada Ahmed, the Digital Wildcatters’ podcast, Energy Tech Startups, delves into Houston's pivotal role in the energy transition, spotlighting entrepreneurs and industry leaders shaping a low-carbon future. Digital Wildcatters is a Houston-based media platform and podcast network, which is home to the Energy Tech Startups podcast.

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A View From HETI

Fervo Energy has closed financing to support the remaining construction costs for the first phase of Cape Station. Photo via fervoenergy.com

Houston geothermal unicorn Fervo Energy has closed $421 million in non-recourse debt financing for the first phase of its flagship Cape Station project in Beaver County, Utah.

Fervo believes Cape Station can meet the needs of surging power demand from data centers, domestic manufacturing and an energy market aiming to use clean and reliable power. According to the company, Cape Station will begin delivering its first power to the grid this year and is expected to reach approximately 100 megwatts of operating capacity by early 2027. Fervo added that it plans to scale to 500 megawatts.

The $421 million financing package includes a $309 million construction-to-term loan, a $61 million tax credit bridge loan, and a $51 million letter of credit facility. The facilities will fund the remaining construction costs for the first phase of Cape Station, and will also support the project’s counterparty credit support requirements.

Coordinating lead arrangers include Barclays, BBVA, HSBC, MUFG, RBC and Société Générale, with additional participation from Bank of America, J.P. Morgan and Sumitomo Mitsui Trust Bank, Limited, New York Branch.

“As demand for firm, clean, affordable power accelerates, EGS (Enhanced Geothermal Systems) is set to become a core energy asset class for infrastructure lenders,” Sean Pollock, managing director, project Finance at RBC Capital Markets, said in a news release. “Fervo is pioneering this step change with Cape Station, a vital contribution to American energy security that RBC is proud to support.”

The oversubscribed financing marks Cape Station’s shift from early-stage and bridge funding to a long-term, non-recourse capital structure, according to the news release.

“Non-recourse financing has historically been considered out of reach for first-of-a-kind projects,” David Ulrey, CFO of Fervo Energy, said in a news release. “Cape Station disrupts that narrative. With proven oil and gas technology paired with AI-enabled drilling and exploration, robust commercial offtake, operational consistency, and an unrelenting focus on health and safety, we have shown that EGS is a highly bankable asset class.”

Fervo continues to be one of the top-funded startups in the Houston area. The company has raised about $1.5 billion prior to the latest $421 million. It also closed a $462 million Series E in December.

According to Axios Pro, Fervo filed for an IPO that would value the company between $2 billion and $3 billion in January.

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