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Houston energy SaaS startup wins local pitch competition

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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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Woodlands company licenses free patents to ERCOT to boost grid reliability

grid deal

Lancium, a company based in The Woodlands that specializes in infrastructure for connecting large-scale data centers to power grids, is licensing a portfolio of patents to the Electric Reliability Council of Texas (ERCOT) at no cost.

In a news release, Lancium says the intellectual property agreement “ensures ERCOT can sublicense these patents freely, thereby expanding market participation opportunities without risk of patent infringement disputes.”

“This agreement exemplifies Lancium’s dedication to supporting grid stability and innovation across the ERCOT region,” Michael McNamara, CEO of Lancium, said in a news release. “While these patents represent significant technological advancements, we believe that enabling ERCOT and its market participants to operate freely is more valuable for the long-term reliability and resilience of the Texas grid.”

The licensed patents encompass Lancium technologies that support load resources in ERCOT’s market, which covers about 90 percent of Texas. Specifically, the patents deal with controllable load resources. A controlled load resource allows ERCOT and other grids to increase or decrease power consumption during peak periods or emergencies.

ERCOT predicts power demand in Texas will nearly double by 2030, “in part due to more requests to plug into the grid from large users like data centers, crypto mining facilities, hydrogen production plants, and oil and gas companies,” The Texas Tribune reported.

Harris County looks to future with new Climate Justice Plan

progress plan

Harris County commissioners approved a five-point Climate Justice Plan last month with a 3-1 vote by Harris County commissioners. The plan was created by the Office of County Administration’s Office of Sustainability and the nonprofit Coalition for Environment, Equity and Resilience.

“Climate action planning that centers on justice has the potential to spark innovative thinking and transformative actions that will lead to meaningful and just transitions in communities, policies, funding mechanisms, and implementation strategies,” the 59-page report reads.

The plan seeks to address issues relating to ecology, infrastructure, economy, community and culture. Here’s a breakdown:

Ecology

The plan will work towards clean air, water, and soil efforts that support the health of the environment, renewable energy that reduces greenhouse gases and pollution, and conservation and protection of our natural resources. Some action items include:

  • Increasing resources for local government agencies
  • Developing a free native seed bank at all libraries
  • Identifying partners and funding streams to reduce the costs of solar power for area households
  • Producing renewable energy on large tracts of land
  • Expanding tree planting by 20 percent
  • Providing tree maintenance and restoration efforts
  • Incentivizing gray water systems and filtration to conserve fresh water

Economy

In terms of the economy, the Climate Justice Plan wants the basic needs of the community met and wants to also incentivize resilience, sustainability, and climate solutions, and recycling and reuse methods. Specific actions include:

  • Quantifying the rising costs associated with climate change
  • Expanding resources and partnering with organizations to support programs that provide food, utility, housing, and direct cash assistance
  • Supporting a coalition of area non-profit organizations and county offices to strengthen social service support infrastructure
  • Supporting home repair, solar installation, and weatherization programs
  • Identify methods to expand free and efficient recycling and composting services
  • Creating a climate tax levied on greenhouse gas emissions to develop a climate fund to offset the impacts of pollution

Infrastructure

As Houston has been prone to hurricanes and flooding damage, the infrastructure portion of the plan aims to protect the region from risks through preventative floodplain and watershed management. Highlights include:

  • Investing in generators and solar power, plus battery backup and bidirectional EV charging for all county libraries
  • Providing more heating and cooling centers with charging stations
  • Coordinating and deploying community microgrids, especially in neighborhoods prone to losing power
  • Seeking partnerships and funding for low- or no-cost water purifiers for areas with the highest needs
  • Protecting the electric grid through regular maintenance and upgrading, and advocating for greater accountability and responsiveness among appointed officials
  • Developing regulations to require resilient power line infrastructure to prevent outages and failures in new developments

Community and Culture

Housing, a strong economy and access to affordable and healthy food will be achieved under the community aspect of the plan. Under culture, the plan seeks to share knowledge and build trust. Key goals include:

  • Developing a campaign to promote the use of the Harris County 311 system to identify critical community concerns
  • Supporting the development of a Community Housing Plan that ensures stable and safe housing
  • Advocating for revisions to Federal Emergency Management Agency (FEMA) disaster funding to account for renters’ losses and unmet housing needs
  • Developing and funding a whole-home program for repairs, weatherization, and solar energy
  • Developing culturally relevant public relations campaigns to increase knowledge of health, environment and biodiversity across generations
Read the full plan here.

Houston company completes orphan well decommission project in the Gulf

temporary abandonment

Houston-based Promethean Energy announced this month that it has successfully decommissioned offshore orphaned wells in the Matagorda Island lease area.

Around this time last year, the company shared that it would work on the temporary abandonment of nine orphan wells on behalf of the Department of Interior's Bureau of Safety and Environmental Enforcement, or BSEE, in the area. Promethean is known for decommissioning mature assets in a cost-effective and environmentally sustainable manner.

“Our team is incredibly proud to have completed this critical work efficiently, safely, and ahead of budget,” Steve Louis, SVP of decommissioning at Promethean Energy, said in a news release. “By integrating our expertise, technologies and strategic partnerships, we have demonstrated that decommissioning can be both cost-effective and environmentally responsible.”

The company plans to use the Matagora Island project as a replicable model to guide similar projects worldwide. The project used comprehensive drone inspections, visual intelligence tools for safety preparations and detailed well diagnostics to plug the wells.

Next up, Promethean is looking to decommission more of the estimated 14,000 unplugged wells in the Gulf.

"Building on our strong execution performance, our strategy is to continue identifying synergies with other asset owners, fostering collaboration, and developing sustainable decommissioning campaigns that drive efficiency across the industry," Ernest Hui, chief strategy officer of Promethean Energy, added in the release.

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