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NOV's Houston accelerator names inaugural cohort to propel digital transformation in energy

The NOV Supernova Accelerator will work to cultivate relationships between startups and NOV. Photo via Getty Images

Houston-based Venture Builder VC has kicked off its NOV Supernova Accelerator and named its inaugural cohort.

The program, originally announced earlier this year, focuses on accelerating digital transformation solutions for NOV Inc.'s operations in the upstream oil and gas industry. It will support high-potential startups in driving digital transformation within the energy sector, specifically upstream oil and gas, and last five months and culminate in a demo day where founders will present solutions to industry leaders, potential investors, NOV executives, and other stakeholders.

The NOV Supernova Accelerator will work to cultivate relationships between startups and NOV. They will offer specific companies access to NOV’s corporate R&D teams and business units to test their solutions in an effort to potentially develop long-term partnerships.

“The Supernova Accelerator is a reflection of our commitment to fostering forward-thinking technologies that will drive the future of oil and gas,” Diana Grauer, director of R&D of NOV, says in a news release.

The cohort’s focus will be digital transformation challenges that combine with NOV’s vision and include data management and analytics, operational efficiency, HSE (Health, Safety, and Environmental) monitoring, predictive maintenance, and digital twins.

Startups selected for the program include:

  • AnyLog, an edge data management platform that replaces proprietary edge projects with a plug-and-play solution that services real-time data directly at the source, eliminating cloud costs, data transfer, and latency issues.
  • Equipt, an AI-powered self-serve platform that maximizes Asset & Field Service performance, and minimizes downtime and profit leakages.
  • Geolumina's platform is a solution that leverages data analytics to enhance skills, scale insights, and improve efficiency for subsurface companies.
  • Gophr acts as the "Priceline" of logistics, using AI to provide instant shipping quotes and optimize dispatch for anything from paper clips to rocket ships.
  • IoT++ simplifies industrial IoT with a secure, AI-enabled ecosystem of plug-and-play edge devices.
  • Kiana's hardware-agnostic solution secures people, assets, and locations using existing Wi-Fi, Bluetooth, UWB, and cameras, helping energy and manufacturing companies reduce risks and enhance operations.
  • Novity uses AI and physics models to accurately predict machine faults, helping factory operators minimize downtime by knowing the remaining useful life of their machines.
  • Promecav is redefining crude oil conditioning with patented technology that slashes water use and energy while reducing toxic exposure for safer, cleaner, and more sustainable oil processing.
  • RaftMind's enterprise AI solution transforms how businesses manage knowledge. Our advanced platform makes it easier to process data and unlock insights from diverse sources.
  • Spindletop AI uses edge-based machine learning to make each well an autonomous, self-optimizing unit, cutting costs, emissions, and cloud dependence.
  • Taikun.ai combines generative AI with SCADA data to create virtual industrial engineers, augmenting human teams for pennies an hour.
  • Telemetry Insight’s platform utilizes high-resolution accelerometer data to simplify oilfield monitoring and optimize marginal wells for U.S. oil and gas producers via actionable insights.
  • Visual Logging utilizes fiber optic and computer vision technology to deliver real-time monitoring solutions, significantly enhancing data accuracy by providing precise insights into well casing integrity and flow conditions.

“Each startup brings unique solutions to the table, and we are eager to see how these technologies will evolve with NOV’s support and expertise,” Billy Grandy, general partner of Venture Builder VC, says in the release. “This partnership reflects our ongoing commitment to nurturing talent and driving innovation within the energy sector.”

Venture Builder VC is a consulting firm, investor, and accelerator program.

“Unlike mergers and acquisitions, the venture client model allows corporations like NOV to quickly test and implement new technologies without committing to an acquisition or risking significant investment,” Grandy previously said about the accelerator program.

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A View From HETI

Helix Earth's technology is estimated to save up to half of the net energy used in commercial air conditioning, reducing both emissions and costs for operators. Photo by Sergei A/Pexels

A Houston startup with clean tech originating out of NASA has secured millions in funding.

Helix Earth Technologies closed an oversubscribed $5.6 million seed funding led by Houston-based research and investment firm Veriten. Anthropocene Ventures, Semilla Capital, and others including individual investors also participated in the round.

“This investment will empower the Helix Earth team to accelerate the development and deployment of our first groundbreaking hardware technology designed to disrupt a significant portion of the commercial air conditioning market, an industry that is ready for innovation,” Rawand Rasheed, Helix Earth co-founder and CEO, says in a news release.

Helix Earth was founded based on NASA technology co-invented by Rasheed and spun out of Rice University and has been incubated at Greentown Labs in Houston since 2022. Currently being piloted, the technology is estimated to save up to half of the net energy used in commercial air conditioning, reducing both emissions and costs for operators.

“The enthusiastic response from investors reinforces our team’s confidence in our ability to transform innovation-starved sectors such as commercial air conditioning with an easy-to-install-and-maintain solution that benefits distributors, mechanical contractors, and most of all, building owners, with a positive benefit to the environment,” Rasheed says.

Prior to its raise, the company received grant funding from the National Science Foundation and the United States Department of Energy.

“We couldn’t be more excited to partner with the Helix Earth team," Maynard Holt, Veriten’s founder and CEO, adds. "We were so impressed with their unique combination of a technology with broad applicability across multiple industries, a product that will have an immediate and measurable impact on our energy system, and a fantastic and well-rounded team.”

Helix Earth, per the release, reports that is also looking to provide solutions for commercial humidity control and carbon capture.

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This article originally ran on InnovationMap.

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