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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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Energy AI company opens first U.S. office in Houston after Halliburton deal

houston expansion

Building on its partnership with Houston-based oilfield services provider Halliburton, energy-sector AI company Shape Digital recently opened an office at The Ion. It’s the company’s first U.S. location.

Shape Digital’s workforce in Houston includes employees specializing in tech support, business development and client services. The company’s local hiring projections and headcount weren’t available. The new office will be located within Industrious at the Ion, according to Rice Alliance.

A key driver of the new Houston office: The company forecasts North America will account for more than 20 percent of its business in 2027.

“North America is a critical market for industrial innovation, and Houston sits at the center of companies driving that progress,” Caio Sene, vice president of client services at Shape Digital, said in a release. “Growing our presence here allows us to work alongside operators as they look for practical ways to turn existing operational data into clear recommendations for what to do next.”

Shape Digital, which also has offices in Singapore and Brazil, develops decision-making platforms for the oil and gas sector.

The Ion District office gives Shape Digital a presence close to Halliburton’s headquarters. In May, the two companies forged a partnership to combine Halliburton’s Digital Field Solverdecision-making system with Shape Digital’s AI portfolio.

Shape Digital layers AI software atop existing operations data rather than replacing legacy systems or adding new software.

The company’s suite of AI agents draws on more than 200 operations-monitoring algorithms, continually learning from company and industry data. The suite comprises four products: Shape Aura, Shape Lighthouse, Shape Lumen and Shape Reef.

Shape Digital says that by working with a customer’s existing operations data, it can deliver ROI in less than two months without any additional investment in equipment or infrastructure.

The company is a 2021 spinoff of Japan-based Modec. Modec builds, owns, and operates floating offshore oil and gas production facilities. Its Modec America subsidiary is based in Houston.

This article originally appeared on our sister site, InnovationMap.

Houston energy startup names former Cheniere execs to C-suite

new leaders

Houston-based energy infrastructure startup Joulent has brought aboard a new chief financial officer and new chief operating officer—both former executives at Houston-based Cheniere Energy.

The C-suite moves come three months after Joulent raised $1.75 billion from National Grid Ventures.

Michael Wortley joins Joulent as co-president and CFO. Wortley most recently was executive vice president and CFO at Cheniere, an LNG producer and exporter.

In conjunction with Wortley’s hiring, Brian Boland, who was Joulent’s interim CFO, has been named executive vice president, chief investment officer, and head of strategy.

Corey Grindal comes to Joulent as co-president and COO. Grindal most recently was executive vice president and COO at Cheniere.

“As Joulent evolves to meet the growing demand for power infrastructure, our expanded leadership team will help ensure we continue delivering the execution certainty our customers, partners, and investors expect,” Chris James, Joulent’s founder and CEO, said in a press release.

“Corey and Michael are accomplished operators with exceptional records of building and leading world-class energy infrastructure businesses, where they have embedded a culture defined by operational excellence and disciplined execution,” James added.

Joulet builds dedicated power-generating facilities that feed directly into data centers and other power-dependent facilities. This eliminates the need for companies to draw power from grids.

“With an initial multi-gigawatt development portfolio and strategic partnerships across the energy, infrastructure, and data center ecosystem, Joulent is helping remove power constraints to enable the next chapter of American innovation and U.S. reindustrialization,” the company says.

The $1.75 billion minority investment from National Grid Ventures complements Joulent’s existing partnerships.

Joulent, founded in 2023, emerged from stealth mode this summer. The company was founded by investment firm Engine No. 1.

Joulent’s first project, the Project Kilby natural gas facility in West Texas, will be co-located with a Microsoft data center. It’ll deliver about 2.67 gigawatts of power under a 20-year deal between Microsoft and Energy Forge One, a 50/50 joint venture between Chevron and Joulent.

Lithium refiner expands into Houston with new Energy Corridor office

new to hou

Battery-grade lithium carbonate manufacturer Stardust Power has expanded into Houston’s Energy Corridor, the company tells Energy Capital.

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, according to a news release. 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.

Battery-grade lithium carbonate is commonly used in electric vehicle batteries and energy storage systems.

The company says it chose Houston as the location for its new execution hub for its rich history of expertise in engineering, a robust energy infrastructure ecosystem, and access to a leading talent pool for engineering, procurement and construction professionals. The Houston project hub will work closely with the company’s existing office in Oklahoma City.

“The Houston office strengthens our operational footprint at a critical phase of development,” Chris Celano, COO of Stardust Power, said in the release. “By building out a dedicated project management hub in one of the most experienced energy markets in the world, we are positioning the Company for execution as we advance the Muskogee refinery.”

Currently, the Houston office plans to accommodate a workforce of about 20 people with the possibility to add staff upon reaching project milestones, according to a representative from the company.

“This expansion reflects our commitment to deliver domestic, battery-grade lithium that supports U.S. energy security and industrial growth,” Celano added in the release.

In August, Stardust Power secured an offtake agreement to supply up to 20,000 metric tons of battery-grade lithium carbonate by 2030 from the Muskogee, Oklahoma, refinery to New York-based battery technology company Charge CCCV. Stardust reports that the deal adds to a separate non-binding agreement for up to 25,000 metric tons annually for 10 years with an undisclosed global trading company.

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