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Investors from Houston and Boston fuel Greentown with $4M commitment

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A mix of public and private investors have funded Greentown Labs. Photo via GreentownLabs.com

Greentown Labs, a climatetech incubator with locations in the Houston and Boston areas, has announced it has received funding from a mix of investors.

The $4 million in funding came from both of the Houston and Massachusetts locations. Houston investors included Bobby Tudor, CEO of Artemis Energy Partners and chairman of the Houston Energy Transition Initiative; David Baldwin, co-founder of OpenMinds and TEX-E and partner at SCF Partners; and Rice University. Other investors included MassDevelopment and the City of Somerville.

“The challenges of the energy transition are immense, and the role played by technology incubators like Greentown Labs is essential,” Tudor says in a news release. “We believe this role, which is a partnership between academia, industry, philanthropists, entrepreneurs, and governments, is the best way to get to effective, scalable solutions in a time frame that the urgency of the challenge requires. We need all hands on deck, and this partnership between Massachusetts and Texas can be a role model for others.”

According to Greentown, the funding will support its financial position and contribute to preparing the incubator for its next chapter of supporting its its leadership team prepare for Greentown’s next chapter supporting and growing its 575 startups.

“Greentown’s mission aligns closely with the Houston Energy Transition Initiative’s goal of accelerating global solutions to address the dual challenge of meeting growing energy demand globally while also significantly reducing CO2 emissions,” adds Steve Kean, president and CEO of the Greater Houston Partnership.

With the announcement of the funding, Greentown named its board members, including Tudor, who will serve as Greentown Labs Board Chair. The other Houston-based board members are:

  • David Baldwin, co-founder of OpenMinds and TEX-E; partner atSCF Partners
  • Bob Harvey, former president and CEO of GHP; board member of TEX-E
  • Jane Stricker, senior vice president of energy transition and executive director of HETI

“With this new funding, Greentown is poised to expand its impact across its existing ecosystems and support even more climatetech startups,” adds Kevin Dutt, interim CEO of Greentown Labs. “We believe in the essential role entrepreneurship will play in the energy transition and we’re grateful for the support of our partners who share in that belief and our collective commitment to commercializing these technologies as quickly and efficiently as possible.”

According to Greentown, the incubator plans to announce its new CEO in the coming months.

From Your Site Articles
A Belgian hydrogen company has expanded to the United States by way of the Houston area. Photo via johncockerill.com

Global hydrogen company makes U.S. entrance through Houston-area facility acquisition

coming soon

A Belgian electrolyzer manufacturer has acquired a facility in Baytown, expanding to North America for the first time.

John Cockerill Hydrogen announced today that its acquired a manufacturing space south of Houston that will be retrofitted to become one of the largest alkaline manufacturing facilities in the country. It's slated to deliver as early as the third quarter of next year.

“We are excited for the US launch, the first step in our partnership journey with North American businesses and stakeholders who seek to decarbonize and advance the energy transition,” François Michel, CEO of John Cockerill Group, says in a news release.

Expected to create 200 new jobs and produce one gigawatt of electrolyzers a year, the project is slated to deliver as early as the third quarter of next year.

According to the release, Chambers County's highway and barge access, storage and pipeline proximity, and other existing infrastructure were key factors for the company's decision. John Cockerill Hydrogen, which has an office in Houston already, reports that Houston's recent selection by the Department of Energy to be one of seven hubs to receive funding for hydrogen development was another part of the city's appeal.

“With an existing energy ecosystem comprised of competitive natural resources, a highly skilled talent base, and existing infrastructure, Houston was the natural choice for our entry to North America,” Nicolas de Coignac, president of the Americas for John Cockerill, says in the release. “We look forward to partnering with local and state officials, business organizations, academic institutions and other Houston-area stakeholders playing a part in meeting the ambitious goals to reduce greenhouse gases emissions and ensuring energy security and resilience.”

The company has a relationship supporting the Greater Houston Partnership’s Houston Energy Transition Initiative, per the news release, and plans to host a groundbreaking event sometime this year with local business, industrial, and community leaders.

“We are pleased to welcome John Cockerill Hydrogen’s highly anticipated U.S. launch to Houston,” Bob Harvey, president and CEO of GP, says in the release. “This momentous announcement — closely following the U.S. Energy Department’s selection of HyVelocity to develop a Gulf Coast Hydrogen Hub – serves as a resounding testament to our city’s unrivaled status as the energy — and energy transition — capital of the world. With our exceptional infrastructure and top-tier talent, Houston is primed for exponential growth. John Cockerill Hydrogen’s partnership within our hydrogen ecosystem will be nothing short of transformative. Together, we will shape the future of energy and solidify Houston’s position in the clean hydrogen space.”

Steve Kean will transition from leading Kinder Morgan to assuming the role of president and CEO of the Greater Houston Partnership later this year. Photo courtesy of the GHP

Energy exec to take the reins of the Greater Houston Partnership

coming soon

A longtime energy executive has been named the next president and CEO of the Greater Houston Partnership. He'll take on the new role this fall.

The GHP named Steve Kean, who currently serves as the CEO of Kinder Morgan Inc., to the position. He's expected to transition from CEO to board of directors member at Kinder Morgan on August 1. Kean will then assume his new position at GHP no later than Dec. 1.

Dr. Marc L. Boom, GHP board chair and president and CEO of Houston Methodist, made the announcement at a press conference June 21.

“Steve brings incredible business acumen and leadership skills to the organization," Boom says in a statement. "Coupled with an extraordinary passion for Houston, he will build on the Partnership’s momentum to continue to advance greater Houston as a region of extraordinary growth and opportunity.”

The GHP's outgoing president and CEO, Bob Harvey, announced his retirement earlier this year, and will remain in his position until Kean is onboarded. Kean was selected via a search committee established by 2022 board chair, Thad Hill. The committee was chaired by Marc Watts and included Boom, Thad Hill, Paul Hobby, Gina Luna, Eric Mullins, Armando Perez, and Ruth Simmons. The process, which looked at over 70 highly-qualified Houston leaders, also included the services of Spencer Stuart to manage the search.

“This last decade has been a dynamic time for Houston and the Partnership," Harvey says in a statement. "As a life-long Houstonian, it has been an honor to focus my efforts on supporting Houston’s continued growth and working with the business community to create opportunities for all Houstonians. This is an exciting time for Houston. I am very pleased that Steve is enthusiastic about leading the Partnership, and I look forward to the organization’s continued success under his leadership.”

With decades in the energy industry, Kean joined Kinder Morgan in 2002 and has served as COO, president of Natural Gas Pipelines, and president of Kinder Morgan Inc. before rising to CEO. He received a bachelor's degree from Iowa State University and his law degree from the University of Iowa.

“I’m grateful for the opportunity to serve our region in this role," he says. "I look forward to building on what Bob, the Board, members, and staff of the Partnership have accomplished. I know first-hand the opportunities that a vibrant business sector can create for people and communities. I look forward to expanding those opportunities further.”

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This article originally ran on InnovationMap.

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Houston cleantech startup Helix Earth lands $1.2M NSF grant

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Renewable equipment manufacturer Helix Earth Technologies is one of three Houston-based companies to secure federal funding through the Small Business Innovation Research (SBIR) Phase II grant program in recent months.

The company—which was founded based on NASA technology, spun out of Rice University and has been incubated at Greentown Labs—has received approximately $1.2 million from the National Science Foundation to develop its high-efficiency retrofit dehumidification systems that aim to reduce the energy consumption of commercial AC units. The company reports that its technology has the potential to cut AC energy use by up to 50 percent.

"This award validates our vision and propels our impact forward with valuable research funding and the prestige of the NSF stamp of approval," Rawand Rasheed, Helix CEO and founder, shared in a LinkedIn post. "This award is a reflection our exceptional team's grit, expertise, and collaborative spirit ... This is just the beginning as we continue pushing for a sustainable future."

Two other Houston-area companies also landed $1.2 million in NSF SBIR Phase II funding during the same period:

  • Resilitix Intelligence, a disaster AI startup that was founded shortly after Hurricane Harvey, that works to "reduce the human and economic toll of disasters" by providing local and state organizations and emergency response teams with near-real-time, AI-driven insights to improve response speed, save lives and accelerate recovery
  • Conroe-based Fluxworks Inc., founded in 2021 at Texas A&M, which provides magnetic gear technology for the space industry that has the potential to significantly enhance in-space manufacturing and unlock new capabilities for industries by allowing advanced research and manufacturing in microgravity

The three grants officially rolled out in early September 2025 and are expected to run through August 2027, according to the NSF. The SBIR Phase II grants support in-depth research and development of ideas that showed potential for commercialization after receiving Phase I grants from government agencies.

However, congressional authority for the program, often called "America's seed fund," expired on September 30, 2025, and has stalled since the recent government shutdown. Government agencies cannot issue new grants until Congress agrees on a path forward. According to SBIR.gov, "if no further action is taken by Congress, federal agencies may not be able to award funding under SBIR/STTR programs and SBIR/STTR solicitations may be delayed, cancelled, or rescinded."

Mars Materials makes breakthrough in clean carbon fiber production

Future of Fiber

Houston-based Mars Materials has made a breakthrough in turning stored carbon dioxide into everyday products.

In partnership with the Textile Innovation Engine of North Carolina and North Carolina State University, Mars Materials turned its CO2-derived product into a high-quality raw material for producing carbon fiber, according to a news release. According to the company, the product works "exactly like" the traditional chemical used to create carbon fiber that is derived from oil and coal.

Testing showed the end product met the high standards required for high-performance carbon fiber. Carbon fiber finds its way into aircraft, missile components, drones, racecars, golf clubs, snowboards, bridges, X-ray equipment, prosthetics, wind turbine blades and more.

The successful test “keeps a promise we made to our investors and the industry,” Aaron Fitzgerald, co-founder and CEO of Mars Materials, said in the release. “We proved we can make carbon fiber from the air without losing any quality.”

“Just as we did with our water-soluble polymers, getting it right on the first try allows us to move faster,” Fitzgerald adds. “We can now focus on scaling up production to accelerate bringing manufacturing of this critical material back to the U.S.”

Mars Materials, founded in 2019, converts captured carbon into resources, such as carbon fiber and wastewater treatment chemicals. Investors include Untapped Capital, Prithvi Ventures, Climate Capital Collective, Overlap Holdings, BlackTech Capital, Jonathan Azoff, Nate Salpeter and Brian Andrés Helmick.

Tesla no longer world's biggest EV maker as sales drop for second year

EV Update

Tesla lost its crown as the world’s bestselling electric vehicle maker as a customer revolt over Elon Musk’s right-wing politics, expiring U.S. tax breaks for buyers and stiff overseas competition pushed sales down for a second year in a row.

Tesla said that it delivered 1.64 million vehicles in 2025, down 9% from a year earlier.

Chinese rival BYD, which sold 2.26 million vehicles last year, is now the biggest EV maker.

It's a stunning reversal for a car company whose rise once seemed unstoppable as it overtook traditional automakers with far more resources and helped make Musk the world's richest man. The sales drop came despite President Donald Trump's marketing effort early last year when he called a press conference to praise Musk as a “patriot” in front of Teslas lined up on the White House driveway, then announced he would be buying one, bucking presidential precedent to not endorse private company products.

For the fourth quarter, Tesla sales totaled 418,227, falling short of even the much reduced 440,000 target that analysts recently polled by FactSet had expected. Sales were hit hard by the expiration of a $7,500 tax credit for electric vehicle purchases that was phased out by the Trump administration at the end of September.

Tesla stock fell 2.6% to $438.07 on Friday.

Even with multiple issues buffeting the company, investors are betting that Tesla CEO Musk can deliver on his ambitions to make Tesla a leader in robotaxi services and get consumers to embrace humanoid robots that can perform basic tasks in homes and offices. Reflecting that optimism, the stock finished 2025 with a gain of approximately 11%.

The latest quarter was the first with sales of stripped-down versions of the Model Y and Model 3 that Musk unveiled in early October as part of an effort to revive sales. The new Model Y costs just under $40,000 while customers can buy the cheaper Model 3 for under $37,000. Those versions are expected to help Tesla compete with Chinese models in Europe and Asia.

For fourth-quarter earnings coming out in late January, analysts are expecting the company to post a 3% drop in sales and a nearly 40% drop in earnings per share, according to FactSet. Analysts expect the downward trend in sales and profits to eventually reverse itself as 2026 rolls along.

Musk said earlier last year that a “major rebound” in sales was underway, but investors were unruffled when that didn't pan out, choosing instead to focus on Musk's pivot to different parts of business. He has has been saying the future of the company lies with its driverless robotaxis service, its energy storage business and building robots for the home and factory — and much less with car sales.

Tesla started rolling out its robotaxi service in Austin in June, first with safety monitors in the cars to take over in case of trouble, then testing without them. The company hopes to roll out the service in several cities this year.

To do that successfully, it needs to take on rival Waymo, which has been operating autonomous taxis for years and has far more customers. It also will also have to contend with regulatory challenges. The company is under several federal safety investigations and other probes. In California, Tesla is at risk of temporarily losing its license to sell cars in the state after a judge there ruled it had misled customers about their safety.

“Regulatory is going to be a big issue,” said Wedbush Securities analyst Dan Ives, a well-known bull on the stock. “We're dealing with people's lives.”

Still, Ives said he expects Tesla's autonomous offerings will soon overcome any setbacks.

Musk has said he hopes software updates to his cars will enable hundreds of thousands of Tesla vehicles to operate autonomously with zero human intervention by the end of this year. The company is also planning to begin production of its AI-powered Cybercab with no steering wheel or pedals in 2026.

To keep Musk focused on the company, Tesla’s directors awarded Musk a potentially enormous new pay package that shareholders backed at the annual meeting in November.

Musk scored another huge windfall two weeks ago when the Delaware Supreme Court reversed a decision that deprived him of a $55 billion pay package that Tesla doled out in 2018.

Musk could become the world's first trillionaire later this year when he sells shares of his rocket company SpaceX to the public for the first time in what analysts expect would be a blockbuster initial public offering.

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