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Exclusive: Houston clean energy accelerator names 4th cohort of early-stage tech companies

The Rice Alliance Clean Energy Accelerator, a hybrid program based out of the Ion, has named its latest cohort. Photo courtesy of the Ion

The Rice Alliance Clean Energy Accelerator has named 12 early-stage energy technology companies to its latest cohort.

The companies, which hail from six states and two countries, are providing solutions across carbon management, advanced materials, hydrogen, solar, and more. The program, which operates in a hybrid capacity based out of the Ion, will run for 10 weeks beginning July 9 and culminating in a demo day alongside the 21st Rice Alliance Energy Tech Venture Forum on September 12. Throughout the duration, the companies will come to Houston three times.

"As Houston’s preeminent energy startup accelerator, this is an open door to the region’s energy ecosystem for ventures from around the world and puts them through a rigorous curriculum to bolster their fundraising efforts, prepare them for accelerated adoption into the marketplace and expand their connections for potential pilots, partnerships and sales," per a Rice Alliance news release.

This cohort's executives-in-residence, or XiRs, include Tim Franklin-Hensler, John Jeffers, Ritu Sachdeva and Nick Tillmann. In addition to these innovators — who bring their expertise, mentorship, and strategic growth planning — the program is ed by the Rice Alliance’s Kerri Smith and Matt Peña.

Class 4 for the Rice Alliance Clean Energy Accelerator includes:

  • 1s1 Energy, based in Portola Valley, California, develops electrolyzers with boron-based materials so that utilities and heavy industry can produce low-cost green hydrogen to decarbonize existing and future businesses.
  • Houston-based Capwell provides a cost-effective, modular, and easily transportable system that eliminates methane emissions from wells for state governments and oil and as companies.
  • CarboMat, from Calgary, Alberta, provides a clean technology that produces low-cost, sustainable, and mid-tier grade carbon fibers at a 60 percent reduced production cost and 50 percent reduced GHG emissions to composite manufacturers in industries that require large volumes of inexpensive carbon fibers for production of commodity grade products.
  • Cleveland, Ohio-headquartered Corrolytics offers cutting-edge technology that detects corrosion on-site and in near real-time, providing accurate insights into microbial corrosion and general corrosion.
  • Geolabe, from Los Almos, New Mexico, provides an automated methane monitoring system that helps organizations measure environmental performance and introduce and prioritize remedial actions.
  • Kaizen, which operates in Tomball just outside of Houston, provides hydrogen based microgrids that enable fleet electrification at sites that are grid constrained or off grid. The solutions emit no local emissions and reduce global emissions.
  • Los Angeles-based Mitico offers services and equipment to capture carbon dioxide with a patent-pending granulated metal carbonate sorption technology captures over 95 percent of the CO2 emitted from post-combustion point sources.
  • OceanBit, headquartered in Honolulu, provides ocean thermal energy technologies and power plants that delivers abundant, affordable, base load power to utilities and companies who need a firm, dispatchable, and 24/7 carbon-free source of electricity.
  • From Ontario, Canada, QEA Tech provides detailed building envelope energy audits using drones, thermography, and proprietary AI based software.
  • Houston-based Sensytec offers patented sensors, delivering real-time, accurate material performance data of concrete and advanced building materials.
  • Vroom Solar, based in Springfield, Missouri, provides Smart Solar Management technology that optimizes solar and optional AC power differently at a lower cost and smaller footprint for solar customers who need affordable, efficient, and user-friendly power anywhere.
  • VulcanX, from Vancouver, Canada, provides hydrogen and solid carbon to gas utilities, steel manufacturers and ammonia producers who require low-cost and low-emission hydrogen.

Since launching in 2021, the Clean Energy Accelerator has accelerated 43 ventures that have raised more than $166 million in funding. According to the program, these companies have piloted their technologies, connected with investors, created jobs, and many relocated to Houston.

The 2023 cohort included 15 clean energy companies.

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A View From HETI

Matthew Costello, CEO and co-founder of Voyager Portal, joins the Houston Innovators Podcast. Photo courtesy of Voyager

For several years now, Matthew Costello has been navigating the maritime shipping industry looking for problems to solve for customers with his company, Voyager Portal.

Initially, that meant designing a software platform to enhance communications and organization of the many massive and intricate global shipments happening every day. Founded in 2018 by Costello and COO Bret Smart, Voyager Portal became a integral tool for the industry that helps users manage the full lifecycle of their voyages — from planning to delivery.

"The software landscape has changed tremendously in the maritime space. Back in 2018, we were one of a small handful of technology startups in this space," Costello, who serves as CEO of Voyager, says on the Houston Innovators Podcast. "Now that's changed. ... There's really a huge wave of innovation happening in maritime right now."

And, predictably, some of those waves are caused by new momentum within the energy transition.

"The energy transition has thrown up a lot of questions for everyone in the maritime industry," Costello says. "The regulations create a lot of questions around cost primarily. ... And that has created a huge number of opportunities for technology."

Fuel as a primary cost for the maritime industry. These cargo ships are traversing the world 24/7 and burning fuel at all times. Costello says there's an increased focus on the fuel process — "all with a goal of essentially reducing carbon intensity usage."

One of the ways to move the needle on reducing the carbon footprint of these ships is optimizing the time spent in port, and specifically the delays associated. Demurrage are charges associated with delays in loading and unloading cargo within maritime shipping, and Costello estimates that the total paid globally in demurrage fees is around $10 billion to $20 billion a year.

"These fees can be huge," Costello says. "What technology has really enabled with this problem of demurrage is helping companies drill down to the true root cause of what something is happening."

All this progress is thanks to the enhancement — and wider range of acceptance — of data analysis and artificial intelligence.

Costello, who says Voyager has been improving its profitability every quarter for the last year, has grown the business to around 40 employees in its headquarters of Houston and three remote offices in Brazil, London, and Singapore. The company's last round of funding was a series A in 2021. Costello says the next round, if needed, would be next year.

In the meantime, Voyager is laser focused on providing optimized, cost-saving, and sustainable solutions for its customers — around half of which are headquartered or have a significant presence in Houston. For Costello, that's all about putting the control back into the hands of his customers.

"If we think back to the real problems the industry faces, a lot of them are controlled by different groups and parties. The fact that a ship cannot get in and out of a port quickly is not necessarily a function of one party's issue — it's a multitude of issues, and there's no one factor," Costello says on the show. "To really make the whole process efficient end-to-end you need to provide the customer to access and options for different means of getting cargo from A to B — and you need to have a sense of control in that process."

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This article originally ran on InnovationMap.

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