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Houston energy SaaS startup wins local pitch competition

no. 1

Houston-based WellWorth was selected as the winner of this year’s Houston Startup Showcase. Photo via LinkedIn

The Ion hosted its annual startup pitch competition, and one company walked away with a win.

WellWorth, a financial modeling and analysis software-as-a-service company for the upstream energy sector, won the Houston Startup Showcase + Expo and secured a $5,000 prize. The startup's technology introduces a more streamlined approach to NAV modeling or corporate financial modeling for its users.

“Having worked in investment banking, I have seen firsthand how the limitations of Excel models and a lack of bespoke tools have led to inefficient workflows in upstream Oil & Gas finance," says Samra Nawaz, CEO and Co-founder of WellWorth, in a statement. "We decided to solve this problem by building a cloud-based platform that helps energy finance leaders improve decision-making around raising, managing, and deploying capital.”

Nawaz explains how impactful the opportunity to pitch has been on WellWorth, which aims to raise funding early next year accelerate customer acquisition and product development.

“By getting involved in the Ion’s innovation ecosystem, we’ve been able to not only network with many entrepreneurs and innovators in the Houston community, but also find opportunities to scale our growth,” continues Nawaz. “We’re thrilled to have brought a few more customers onboard recently, and are working closely with them to optimize our product pipeline."

The company pitched alongside the other five finalists, which included Tierra Climate, MRG Health, BeOne Sports, Trez, and Mallard Bay. Mallard Bay, a booking platform for hunting and fishing trips, secured the people's choice award, which was decided by the crowd.

“Our flagship event, Houston Startup Showcase, not only connects startups and entrepreneurs with top business leaders but also provides them an opportunity to pitch their innovations to the technology ecosystem,” says Jan Odegard, executive director of the Ion, in a news release. “We extend our congratulations to WellWorth and the company’s innovative SaaS platform for energy industry finance teams, as well as Mallard Bay, the People’s Choice winner. These companies are exemplifying the exciting new technologies being developed in Houston today.”

In addition to the pitches, several companies showcased at the event, including Nanotech, manufacturer of thermal management materials for the built environment; last year's winner Unytag, a universal toll tag that provides drivers the ability to pass through tolls anywhere in the nation; and Softeq, provides early-stage innovation, technology business consulting, and full-stack development solutions to enterprise companies and innovative startups.

ALLY Energy has named its 2023 GRIT Awards finalists. Photo courtesy of ALLY Energy

Houston energy workforce solutions company names finalists for annual awards

energy honorees

For the seventh year, a Houston-based company that's working to make the energy industry more equitable has named the finalists for its annual award.

ALLY Energy's GRIT Awards and Best Energy Workplaces, which will take place on October 26, has announced the finalists for the 2023 awards program.

“Every year, we are astounded at how many impressive, committed people are demonstrating leadership and grit in their work to advance the energy transition and build more diverse, equitable and inclusive workplaces,” ALLY Energy CEO Katie Mehnert says in a news release. “This year is no exception. This is the time to celebrate so many crucial achievements that may otherwise go overlooked in the energy sector and in broader society.”

The finalists are leaders, teams, and companies from around the world and across industry verticals — oil and gas, power and utilities, wind, solar, hydrogen, nuclear, climate tech startups, and academia. EnergyCapitalHTX, as well as its sister site InnovationMap, is a media partner for the event.

This year, ALLY has named three Lifetime Achievement Award honorees who have distinguished careers championing change in energy and climate in the private or public sector in the areas of technology, policy, and workforce: John Berger, CEO of Sunnova Energy; Rhonda Morris, vice president and chief human resources officer of Chevron; and Amy Chronis, vice chair, US energy and chemicals leader, and Houston managing partner at Deloitte.

This year's finalists for the award categories are as follows, according to ALLY Energy.

The Professional Award

  • Alex Loureiro, Scientific Director at EnerGeo Alliance
  • Allie Thurmond, Asset Manager at Equinor
  • Catherine Fuller, Senior Learning Strategy Leader at Baker Hughes
  • Crystal McNack, Diversity, Equity, and Inclusion Advisor at Enbridge Inc.
  • Dani Milling, Gulf of Mexico Environmental Engineer & Mexico HSE Coordinator at Chevron
  • Diego Barreto, CFO Americas Region at Baker Hughes
  • Gayle Bowness, Technical Director Studies at Wood
  • Katie Zimmerman, Decarbonization Director, Americas at Wood
  • Kim Sabate-Strazde, Interim DEI Programs Manager at Baker Hughes
  • Krithika Kannan, IT HSE & Security Manager at Occidental
  • Lynn Buckley, Head of Supplier Development at Baker Hughes
  • Mark Klapatch-Mathias, Sustainability Coordinator at the University of Wisconsin-River Falls
  • Megan Suggs, Project Manager at BASF
  • Natalie Valentine, Director - Business Performance at Worley
  • Prajakta Kulkarni, Pricing Agreement Management Digital Platform Lead at Baker Hughes
  • Priscilla Enwere, Senior Well Engineer at Rano-Accrete Petroleum Development Company
  • Samantha Howard, Senior Organizational Development Specialist at Southern Star Central Gas Pipeline
  • Syed Fahim, Global ESG Lead at SLB
  • Tane Bates, Regional Operations Manager at Certarus LTD
  • Ujunwa Ojemeni, Senior Policy Advisor - Energy Transition & Technical Assistance Delivery at E3G - Third Generation Environmentalism
  • Yogashri Pradhan, Reservoir Engineer at Coterra

The Executive Award

  • Andy Drummond, Executive Vice President Exploration and Development at Woodside Energy
  • Cara Hair, SVP of Corporate Services, Chief Legal and Compliance Officer at Helmerich & Payne
  • Claire Aitchison, Executive Operations Leader at Baker Hughes
  • Emma Lewis, Senior Vice President USGC Chemicals & Products at Shell
  • Jeremy Campbell-Wray, Strategic Accounts and Enterprise Growth Market Executive at Baker Hughes
  • Kathy Eberwein, Chief Executive Officer at The Global Edge Group
  • Kim Holder, Senior Executive of Digital Technology at Baker Hughes
  • Leveda Charles, Director of PMO & Business Enablement at Baker Hughes
  • Maggie Seeliger, SVP & Global Head of Strategy, Energy & Resources at Sodexo
  • Max Chan, Senior Vice President, Corporate Development Officer at Enbridge
  • Megan Beauregard, Chief Legal Officer, Secretary, and Head of Policy and Regulatory Affairs at Enel North America, Inc.
  • Nikki Martin, President at EnerGeo Alliance
  • Pamela Skaufel, Vice President of Procurement at ExxonMobil
  • Sarah Delille, Vice President of US Country Management at Equinor
  • Shiva McMahon, Executive Vice President International Operations at Woodside Energy
  • Soma Somasundaram, Chief Executive Officer at ChampionX
  • Toby Begnaud, Chief Commercial Officer & SVP of Oilfield Services and Equipment at Baker Hughes
  • Trevor Mihalik, Executive Vice President & Chief Financial Officer at Sempra
  • Whitney Eaton, EVP, People & Sustainability at TGS Energy

The JEDI Award

  • Alex Fleming, Senior Manager at Deloitte
  • Doug Peck, Head of Reserves at Woodside Energy
  • Jason Limerick, Sustainability Strategy Lead at Woodside Energy
  • Melina Acevedo, Associate & Partnerships Lead at DE Shaw Renewable Investments
  • Shengke Zhi, Director for Growth and Development at Wood

The Entrepreneur Award

  • Charli Matthews, CEO at Empowering Women in Industry
  • Mandeep Patel, Founder at ElecTrip
  • Mike Francis, Co-Founder and CEO at NanoTech
  • Nick Valenzia, Founder at Leafr

The ESG & Climate Champion Award

  • Andrea Hepp, Deal Lead at Shell
  • Brittney Marshall, Senior Advisor, Climate Strategy and Policy at Woodside Energy
  • Freya Burton, Chief Sustainability Officer at LanzaTech
  • Gabriel Rolland, Vice President, Corporate QHSE at TGS Energy
  • Lisa Larroque Alexander, SVP, Corporate Affairs and Chief Sustainability Officer at Sempra
  • Misty Rowe, Global CCUS Account Manager at Halliburton
  • Sandhya Ganapathy, Chief Executive Officer at EDP Renewables North America

Gritty Girl Award

  • Deepasha Baral, Student at the University of Petroleum and Energy Studies

Best Affinity Group, Employee Resource Group Award, sponsored by ChampionX

  • Baker Hughes, Asian Pacific American Forum (APAF)
  • Baker Hughes, Generation STEM
  • Baker Hughes, D&I Group Celle
  • Baker Hughes, Parenting Tribe
  • Baker Hughes, Pride@Work
  • Baker Hughes, Multicultural ERG
  • ChampionX, PLAN
  • ChampionX, PRIDE
  • ChampionX, RISE Gender Equity ERG
  • ChampionX, SEED
  • Ovintiv, Leveraging Inclusion, Networking and Knowledge (LINK)
  • Sempra, Growing Responsibilities and Opportunities for Women
  • Shell, WAVE - Women Adding Value Everywhere
  • Shell, DE&I Council
  • TPI Composites, LEAP for Women
  • Women's Energy Network Houston, Women's Energy Network Houston
  • Wood, Launch
  • Wood Mackenzie, Pride Working Group-Americas
  • Woodside Energy, EmBRace - Employees Beyond Race
  • Woodside Energy, Spark
  • Woodside Energy, VIBE LGBTIQ+ Employee Resource Group
  • Worley, PRIDE@Worley

Best Energy Team Award, sponsored by Ovintiv

  • Advisian Material Handling
  • Baker Hughes, Sustainability Team
  • ChampionX, Asset Integrity Team
  • ChampionX, Brunei Supply Chain
  • EIC Rose Rock/Rose Rock Bridge
  • Halliburton Labs
  • NOV Marketing
  • Sempra Infrastructure
  • Syzygy Plasmonics, Rigel Manufacturing & Launch Team
  • TGS New Energy Solutions

Best Energy Workplaces Award

  • Aera Energy LLC
  • Baker Hughes
  • ChampionX
  • Consolidated Asset Management Services
  • EDP Renewables North America
  • Enel
  • The Global Edge Group
  • Shell
  • Solar Energy Industries Association - SEIA
  • Southwestern Energy
  • Sunnova Energy International, Inc (6-time finalist)
  • TGS Energy
  • Wood
  • Woodside Energy
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1PointFive signs latest deal, shares update on $1.3B carbon removal project

DAC deal

Houston-based 1PointFive, a subsidiary of Occidental Petroleum Corp., has secured another buyer of carbon dioxide removal credits for its $1.3 billion STRATOS project as it moves toward operation.

Bain & Company, a Boston-based consulting firm, has agreed to purchase 9,000 metric tons of carbon dioxide removal (CDR) credits from the direct air capture (DAC) facility over three years, according to a news release. DAC technology pulls CO2 from the air at any location, not just where carbon dioxide is emitted.

The deal is Bain's first purchase of DAC removal credits. The company has developed a program that helps clients purchase carbon credits from a range of carbon-removal technologies.

"We are proud to partner with 1PointFive and add them to our portfolio of engineered carbon removal technologies," Sam Israelit, Bain’s chief sustainability officer, said in the news release. "Their track record for developing DAC technology, coupled with their deep understanding of what it takes to deliver large-scale infrastructure projects, uniquely positions them to be a leader in this emerging segment.”

“We believe this agreement demonstrates continued momentum for the solution while supporting the development of vital domestic infrastructure,” Anthony Cottone, president and general manager of 1PointFive, added in the release.

Bain joins others like Microsoft, Amazon, AT&T, Airbus, the Houston Astros and the Houston Texans that have agreed to buy CDR credits from STRATOS.

The Texas-based STRATOS project is being developed through a joint venture with investment manager BlackRock and is designed to capture up to 500,000 metric tons of CO2 per year. The U.S Environmental Protection Agency approved Class VI permits for the project last year.

1PointFive says STRATOS is "progressing through start-up activities." The company shared in a LinkedIn post that Phase 1 of the project is expected to go online in Q2, with Phase 2 ramping up through the remainder of 2026.

Houston researcher develops efficient method to cool AI data centers

cool findings

A University of Houston professor has developed a new cooling method that can remove heat at least three times more effectively from AI data centers than current technologies.

Hadi Ghasemi, a distinguished professor of Mechanical & Aerospace Engineering at UH, published his findings in two articles in the International Journal of Heat and Mass Transfer. The findings solve a critical issue in the growing AI sector, according to UH.

High-powered AI data centers generate huge amounts of heat due to the GPU and operating systems they use with extreme power densities, which introduce complex thermal challenges. Traditionally, cooling methods, like microchannels, which use flow and spray cooling, have had limitations when exposed to extreme heat flux, according to UH.

Ghasemi’s research, however, found a more effective way to design thin-film evaporation structures to release heat from data centers and electronics at record performance.

Ghasem’s solution coupled topology optimization and AI modeling to determine the best shapes for thin film efficiency, ultimately landing on a branch-like structure—resembling a tree.

The model found that the “branches” needed to be about 50 percent solid and 50 percent empty space for optimum efficiency, and that they could sustain high heat fluxes with minimal thermal resistance.

“These structures could achieve high critical heat flux at much lower superheat compared to traditionally studied structures,” Ghasemi said in a news release. “The new structures can remove heat without having to get as hot as previous removal systems.

Ghasemi’s doctoral candidates, Amirmohammad Jahanbakhsh and Saber Badkoobeh Hezave, also worked on the project. The team believes their results show the impact of a physics-aware, AI design and can help ensure reliability, longevity and stability of AI data centers.

“Beyond achieving record performance, these new findings provide fundamental insight into the governing heat-transfer physics and establishes a rational pathway toward even higher thermal dissipation capacities,” Ghasemi added in the release

Texas federal judge allows lawsuit against California AG over ExxonMobil remarks

In the News

A federal judge in Texas ruled that ExxonMobil can bring a defamation lawsuit against California’s attorney general over comments about the company’s plastic recycling efforts.

U.S. District Judge Michael J. Truncale in the Eastern District of Texas said in a ruling in February that California Attorney General Rob Bonta cannot claim official immunity in regards to several statements he made, including one in a campaign email sent to Texas residents.

Bonta sued Exxon in September 2024, saying that the oil giant encouraged consumers to purchase plastics products with the promise that the products would be recycled. He said less than 5% of plastic is recycled into another plastic product, and that recycling processes touted by Exxon don't work. Exxon said the problem is with California's recycling system.

Exxon later sued Bonta in his individual capacity and environmental groups for defamation, saying that the comments harmed current and future business contracts. The lawsuit was filed in Texas, near its principal place of business.

Truncale dismissed the lawsuit against the environmental groups but allowed it to proceed against Bonta.

The judge pointed to a campaign email Bonta sent to Texas residents saying that only 5% is recycled and the rest ends up in the environment and in our bodies: “Exxon Mobil knew, and Exxon Mobil lied.” Bonta, a Democrat, argued he was simply updating email recipients on his office's activities.

But Truncale said a campaign contribution link on the email turned the communication into a campaign activity not protected by immunity in Bonta's official capacity as attorney general.

“Here, the contribution request betrays the email's true nature: a campaign promotion. Campaigning is not within Bonta's scope of employment,” the judge wrote.

Bonta has filed a notice of appeal.

“The Attorney General looks forward to vigorously litigating this case, and is proud to advance his lawsuit against ExxonMobil,” his press office said.

ExxonMobil said in a statement that the “campaign of lies designed to derail our advanced recycling business must stop.”

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