ADVERTISEABOUT USSUBMIT A STORYSUBSCRIBETERMS OF USEPRIVACY POLICY
Visit our family of Brands

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
Ad Placement 300x100
Ad Placement 300x600

CultureMap Emails are Awesome

Property Showcase

Rice University spinouts named among 50 top cleantech companies to watch

green team

Two Rice University spinouts, Coflux Purification and DexMat, appear on a new list of the world’s 50 cleantech companies to watch.

Cleantech Group’s 2026 Cleantech 50 to Watch list recognizes early-stage companies “creating groundbreaking solutions to address some of the world’s most pressing environmental and sustainability challenges.”

Cleantech Group, a market research, consulting, and events company, selects the 50 honorees based on insights from analysts and early-stage innovators, along with public nominations.

Destroying “forever chemicals”

Coflux, founded in 2024, offers an onsite treatment system that captures and destroys manufactured “forever chemicals”—per- and polyfluoroalkyl substances—in water and wastewater. It’s a member of Greentown Houston.

Alec Ajnsztajn, CEO; Jeremy Daum, chief technology officer; and Dana Vazquez, chief commercial officer, co-founded Coflux. Ajnsztajn and Daum earned doctoral degrees from Rice, and Vazquez earned an MBA from the university.

Coflux spun out of Rice labs directed by professors Rafael Verduzco and Pulickel Ajayan.

Last year, Coflux received a $175,000 grant from the U.S. Food and Drug Administration’s National Institute of Food and Agriculture. The startup has also raised more than $500,000 in non-dilutive funding, including $80,000 awarded in 2024 by Rice’s One Small Step Grant program.

Promoting an alternative to copper

DexMat, founded in 2015, produces carbon nanotube products such as fibers, yarns, cables, and fabric. The company’s products address demand for materials that can reduce carbon emissions, according to CB Insights.

Its main product, Galvorn, is a copper alternative made of carbon nanotube fibers. CB Insights says Galvorn is engineered to be lighter and stronger than traditional conductive materials like carbon and steel. It’s used in industries such as energy, aerospace, defense, automotive, consumer electronics, and health care.

DexMat emerged from Matteo Pasquali’s Carbon Lab at Rice. Pasquali, co-founder of DexMat, co-invented the company’s technology with the late Nobel Prize-winning chemist Rick Smalley. Smalley was a professor of chemistry, physics, and astronomy at Rice.

Pasquali is a professor of chemical and biomolecular engineering, chemistry, materials science, and nanoengineering at Rice. He co-founded DexMat with Rice graduate Dmitri Tsentalovich, the company’s director of product innovation.

Earlier this year, DexMat raised $5 million in seed funding from Non Sibi Ventures, Governance Partners, Tailwind Futures, BetterWay, Capital Factory, and other investors. The company also secured $3 million in non-dilutive funding.

In 2023, DexMat raised $3 million in a pre-seed round led by Shell Ventures.

Stardust Power, Power Electronics expand to Houston and more top energy news

Trending News

Editor's note: October brings big updates for the energy transition sector, with two companies expanding to Houston and two more announcing major funding. Here are the five most-read stories published on EnergyCapital from September 30-October 15, 2026:

Lithium refiner expands into Houston with new Energy Corridor office

Battery-grade lithium carbonate manufacturer Stardust Power has expanded into Houston’s Energy Corridor, the company tells EnergyCapitalHTX. The company’s new office will serve as a project execution hub to support operations and planning for the company’s forthcoming lithium refinery in Muskogee, Oklahoma. The Greenwich, Connecticut-based, publicly traded company says the facility will be one of the largest lithium refining operations in the United States. The refinery is expected to have production capacity of up to 50,000 metric tons per year and seeks to address the critical shortage of U.S. lithium refining capacity. Continue reading.

Houston geothermal company picks Nevada site for commercial-scale project

Sage Geosystems, a Houston-based developer of geothermal power systems, has chosen a site in Nevada for its commercial-scale Project Vector facility. The company’s two-well enhanced geothermal system (EGS) will deliver around-the-clock geothermal heat to Ormat Technologies’ Blue Mountain geothermal power plant in Winnemucca, Nevada. The startup expects to begin drilling the first well later this year, with the first electricity to be generated in 2027 and full-scale production to start in 2028. Continue reading.

Houston carbon removal company secures $35M in financing

Houston-based Vaulted Deep, a waste management and carbon removal company, has announced a major $35 million debt facility from Italian investment bank Mediobanca to support its national expansion. U.K.-based market energy solutions CFP Energy arranged the deal, which is “the largest publicly disclosed U.S. commercial debt deal in durable carbon removal to be secured by long-term purchase contracts,” according to a news release from the companies. Continue reading.

Hertha Metals raises $133M Series A round, plans high-purity iron plant

Conroe-based Hertha Metals has closed a $133.65 million Series A round that includes a $65 million equity investment from the Pentagon. The startup uses a one-step process to convert iron into molten steel or high-purity iron. Khosla Ventures and Doerr Capital co-led the round, with participation from CEV, Pear Ventures, Gates Frontier, Niterra SUISO no MORI Fund, Toyota Ventures, and Siemens Financial Services. Continue reading.

European cleantech company breaks ground on Houston manufacturing site

Spanish renewable energy company Power Electronics broke ground on its new 53-acre Houston campus on Sept. 24. The new site is expected to create over 400 local jobs and deliver 40 gigawatts of production capacity per year. The company said that the campus is expected to be the largest manufacturing site for power conversion systems in the U.S. Power Electronics specializes in solar, energy storage, data centers and electrification technologies. Continue reading.

TotalEnergies expands solar joint venture with $1.2B portfolio in Texas, Ohio

solar expansion

TotalEnergies, a French company whose U.S. headquarters is in Houston, announced this month that it is expanding its renewable energy joint venture with New York-based investment firm KKR by adding 700 megawatts of utility-scale solar projects.

The deal will add three utility-scale solar assets in Texas and Ohio, which are expected to reach commercial operation by Q1 2027, according to a news release from the company. The portfolio is valued at $1.2 billion.

The 50/50 joint venture between TotalEnergies and KKR currently holds 1.4 gigawatts of renewable energy and will grow to 2.1 gigawatts.

The new deal is expected to close this year. Once completed, TotalEnergies will operate the assets. The electricity generated from the solar projects will be sold to third parties, the company reports.

The companies originally formed the joint venture about a year ago when TotalEnergies sold KKR a 50 percent stake in a North American solar portfolio valued at $1.25 billion. The deal originally included six utility-scale solar assets, primarily located in the U.S.

“TotalEnergies is a renewable energy industry leader globally, and we are thrilled to establish this joint venture with the TotalEnergies team to support their renewables business," Cecilio Velasco, managing director KKR, said in a release last year. “We have long been investors in renewables through our infrastructure platform, having committed more than $23 billion to date in energy transition investments. TotalEnergies’ North American solar portfolio is a great fit for us, representing high-quality renewable energy assets with long term contracts.”

TotalEnergies reports that by June 2026 it held more than 37 gigawatts of gross renewable power generation capacity. It aims to achieve over 100 terawatt-hours of net electricity production by 2030.

The company signed a major power purchase agreement with Google earlier this year. Through the deal, TotalEnergies will supply the tech giant with 1 gigawatt of solar power for its data centers in Texas over a 15-year span.

However, the company also recently redirected nearly $1 billion in capital away from wind energy projects and "decided to renounce offshore wind development in the United States." Read more here.

View All Listings