NOV's Houston accelerator names inaugural cohort to propel digital transformation in energy

building tech

The NOV Supernova Accelerator will work to cultivate relationships between startups and NOV. Photo via Getty Images

Houston-based Venture Builder VC has kicked off its NOV Supernova Accelerator and named its inaugural cohort.

The program, originally announced earlier this year, focuses on accelerating digital transformation solutions for NOV Inc.'s operations in the upstream oil and gas industry. It will support high-potential startups in driving digital transformation within the energy sector, specifically upstream oil and gas, and last five months and culminate in a demo day where founders will present solutions to industry leaders, potential investors, NOV executives, and other stakeholders.

The NOV Supernova Accelerator will work to cultivate relationships between startups and NOV. They will offer specific companies access to NOV’s corporate R&D teams and business units to test their solutions in an effort to potentially develop long-term partnerships.

“The Supernova Accelerator is a reflection of our commitment to fostering forward-thinking technologies that will drive the future of oil and gas,” Diana Grauer, director of R&D of NOV, says in a news release.

The cohort’s focus will be digital transformation challenges that combine with NOV’s vision and include data management and analytics, operational efficiency, HSE (Health, Safety, and Environmental) monitoring, predictive maintenance, and digital twins.

Startups selected for the program include:

AnyLog, an edge data management platform that replaces proprietary edge projects with a plug-and-play solution that services real-time data directly at the source, eliminating cloud costs, data transfer, and latency issues.
Equipt, an AI-powered self-serve platform that maximizes Asset & Field Service performance, and minimizes downtime and profit leakages.
Geolumina's platform is a solution that leverages data analytics to enhance skills, scale insights, and improve efficiency for subsurface companies.
Gophr acts as the "Priceline" of logistics, using AI to provide instant shipping quotes and optimize dispatch for anything from paper clips to rocket ships.
IoT++ simplifies industrial IoT with a secure, AI-enabled ecosystem of plug-and-play edge devices.
Kiana's hardware-agnostic solution secures people, assets, and locations using existing Wi-Fi, Bluetooth, UWB, and cameras, helping energy and manufacturing companies reduce risks and enhance operations.
Novity uses AI and physics models to accurately predict machine faults, helping factory operators minimize downtime by knowing the remaining useful life of their machines.
Promecav is redefining crude oil conditioning with patented technology that slashes water use and energy while reducing toxic exposure for safer, cleaner, and more sustainable oil processing.
RaftMind's enterprise AI solution transforms how businesses manage knowledge. Our advanced platform makes it easier to process data and unlock insights from diverse sources.
Spindletop AI uses edge-based machine learning to make each well an autonomous, self-optimizing unit, cutting costs, emissions, and cloud dependence.
Taikun.ai combines generative AI with SCADA data to create virtual industrial engineers, augmenting human teams for pennies an hour.
Telemetry Insight’s platform utilizes high-resolution accelerometer data to simplify oilfield monitoring and optimize marginal wells for U.S. oil and gas producers via actionable insights.
Visual Logging utilizes fiber optic and computer vision technology to deliver real-time monitoring solutions, significantly enhancing data accuracy by providing precise insights into well casing integrity and flow conditions.

“Each startup brings unique solutions to the table, and we are eager to see how these technologies will evolve with NOV’s support and expertise,” Billy Grandy, general partner of Venture Builder VC, says in the release. “This partnership reflects our ongoing commitment to nurturing talent and driving innovation within the energy sector.”

Venture Builder VC is a consulting firm, investor, and accelerator program.

“Unlike mergers and acquisitions, the venture client model allows corporations like NOV to quickly test and implement new technologies without committing to an acquisition or risking significant investment,” Grandy previously said about the accelerator program.

Accenture's Houston hub will introduce a new generative AI studio. Photo via Getty Images

Global corporation to open generative AI studio geared toward energy, chemicals industries in Houston

coming soon

Accenture has announced a new studio coming to Houston that will help its industrial clients with generative artificial intelligence.

The company announced that it will launch a network of studios across North America that will work with clients to explore generative AI applications in business. The initiative will support companies in navigating use cases, conducting AI pilots, and scaling programs. The studios will be in Accenture Innovation Hubs in Chicago, Houston, New York, San Francisco, Toronto and Washington, D.C.

“The studios are designed to help our clients move from interest to action to value, in a responsible way with clear business cases,” Manish Sharma, North America CEO of Accenture, says in the news release. “We are constantly refreshing our learnings from more than 3,000 client conversations on generative AI this year. We use these conversations as demand signals to understand the real-world challenges our clients face and invest in the areas of greatest need and opportunity.”

Each of the studios will have a specific industrial focus as well as broad support. Houston's location will specialize in Industry X, chemicals, energy and utilities industries. The other five markets, according to Accenture, are as follows:

Chicago will specialize in financial services, health, life sciences, consumer goods and services, Industry X and manufacturing.
New York will specialize in life sciences and financial services.
San Francisco will specialize in software and platforms and communications, media, and technology.
Toronto will specialize in financial services, retail, health, and public service.
Washington, D.C. will specialize in health, public service, including federal government services.

The initiative is a part of Accenture’s $3 billion investment in data and AI, and each of the studios will leverage Accenture’s top data and AI experts and partners, including expertise from within Accenture's Center for Advanced AI. Resource access also includes more than 1,450 patents and patent applications in AI solutions, as well as learnings from more than 300 active generative AI projects the company has worked on.

“Clients are ready to move beyond generative AI experimentation. They want to harness generative AI at scale to fundamentally reinvent their business,” Sharma adds. “Clients will come to the studios to access the latest innovations, experiment with new technologies, tools, and approaches to advance their skills, and develop roadmaps to adopt generative AI at scale.”

As the world becomes more reliant on renewable energy, artificial intelligence is proving to be a major game-changer. Photo via Getty Images

How AI technology is advancing a low-carbon future

the view from heti

In the midst of a continuously changing global energy landscape, industry experts, leading energy companies and corporations have rallied together for one common goal: to reach net zero by 2050. As the demand for energy increases, so does the urgency to develop more energy efficient technologies that reduce emissions.

As the world becomes more reliant on renewable energy, artificial intelligence is proving to be a major game-changer. AI is one of the world’s largest disruptors in tech to date with some tech giants pouring millions into research surrounding AI technologies.

While artificial intelligence may not be the first thing to come to mind when talking about the energy industry, it’s already proven its value in fueling the energy transition in multiple domains: improving renewable energy forecasting, grid operations, materials innovation and more. Companies like Accenture have shown how artificial intelligence can play a huge role in steering the energy transition toward a more efficient future.

As a technology services provider, Accenture bridges the gap between technology and human ingenuity to solve some of the world’s most complex issues. With more than 15 years of leadership in metaverse-related technology and more than 1,400 patents, the Accenture Metaverse team brings together metaverse-skilled professionals and market-leading capabilities across Accenture.

The Dublin, Ireland-based company recently announced plans to invest more than $3 billion in artificial intelligence and double its AI-related staff to accommodate demands. Accenture also plans to use generative AI for client work and launch an AI Navigator for Enterprise platform to help guide AI strategy, use cases, decision-making and policy.

With decades of investments and patents, Accenture is no stranger to AI. The company also recently introduced their Net Zero Metaverse, an immersive experience that allows users to explore the future of energy, at the third annual Future of Global Energy conference hosted by the Greater Houston Partnership and the Houston Energy Transition Initiative presented by Chevron. The innovative software system consists of multiple digital worlds including a Charge Stations of the Future, Energy Transition Igloo, a Space Lab and Hydrogen Heights, a renewable-powered neighborhood named after The Heights of Houston.

While Accenture is helping to shift to a more sustainable future, three ways that AI software has already transformed the way we generate, distribute and consume energy are through smart grids, optimized electricity consumption and electricity mobility.

Smart Grids
AI technology can help optimize the efficiency of smart grids, reducing the number of outages and mitigating impact for both residential and commercial customers. In its ability to analyze data collected by smart grids, AI can predict the demand of energy and adjust the flow of electricity accordingly.

Optimized electricity consumption
According to the World Economic Forum, reducing carbon emissions in buildings will be critical to achieving net zero emissions by 2050; buildings represent 39% of global greenhouse gas emissions. AI powered smart buildings and homes can help to reduce energy consumption and operating costs. With the ability to analyze data from sensors and other sources, AI software can identify patterns, predict equipment failures and maintenance needs and help building managers schedule maintenance repairs more efficiently.

Electricity mobility
According to the Congressional Budget Office, transportation is the largest source of greenhouse gas emissions in the United States with CO2 emissions representing about 97% of the global warming potential of all greenhouse emissions. AI software plays a key role in monitoring driving conditions, speed and load levels predicting the most efficient way to use available energy. AI software also helps in safety management and aids in the race to a pollution-free eco-friendly environment.

While AI technology is still advancing, and there is uncertainty in its accuracy, this breakthrough technology is shaping the future of society offering new approaches to optimize energy systems’ operation and reliability.

Learn more about what companies like Accenture are doing with AI technologies.

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This article originally ran on the Greater Houston Partnership's Houston Energy Transition Initiative blog. HETI exists to support Houston's future as an energy leader. For more information about the Houston Energy Transition Initiative, EnergyCapitalHTX's presenting sponsor, visit htxenergytransition.org.

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ExxonMobil names new partner to bolster US lithium supply chain with offtake agreement

ev supplies en route

Spring-headquartered ExxonMobil Corp. has announced a new MOU for an offtake agreement for up to 100,000 metric tons of lithium carbonate.

The agreement is with LG Chem, which is building its cathode plant in Tennessee and expects it to be the largest of its kind in the country. The project broke ground a year ago and expects an annual production capacity of 60,000 tons. The lithium will be supplied by ExxonMobil.

“America needs secure domestic supply of critical minerals like lithium,” Dan Ammann, president of ExxonMobil Low Carbon Solutions, says in a news release. “ExxonMobil is proud to lead the way in establishing domestic lithium production, creating jobs, driving economic growth, and enhancing energy security here in the United States.”

The industry currently has a lithium supply shortage due to the material's use in electric vehicle batteries and the fact that most of production happens overseas.

“Building a lithium supply chain with ExxonMobil, one of the world’s largest energy companies, holds great significance,” Shin Hak-cheol, CEO of LG Chem, adds. “We will continue to strengthen LG Chem’s competitiveness in the global supply chain for critical minerals.”

Per the release, the final investment decision is still pending.

Earlier this year, Exxon entered into another energy transition partnership, teaming up with Japan’s Mitsubishi to potentially produce low-carbon ammonia and nearly carbon-free hydrogen at ExxonMobil’s facility in Baytown.

Last month, the company announced it had signed the biggest offshore carbon dioxide storage lease in the U.S. ExxonMobil says the more than 271,000-acre site, being leased from the Texas General Land Office, complements the onshore CO2 storage portfolio that it’s assembling.

3 Houstonians named to prestigious list of climate leaders

who's who

Three Houston executives — Andrew Chang, Tim Latimer, and Cindy Taff — have been named to Time magazine’s prestigious list of the 100 Most Influential Climate Leaders in Business for 2024.

As managing director of United Airlines Ventures, Chang is striving to reduce the airline’s emissions by promoting the use of sustainable aviation fuel (SAF). Jets contribute to about two percent of global emissions, according to the International Energy Agency.

In 2023, Chang guided the launch of the Sustainable Flight Fund, which invests in climate-enhancing innovations for the airline sector. The fund aims to boost production of SAF and make it an affordable alternative fuel, Time says.

Chang tells Time that he’d like to see passage of climate legislation that would elevate the renewable energy sector.

“One of the most crucial legislative actions we could see in the next year is a focus on faster permitting processes for renewable energy projects,” Chang says. “This, coupled with speeding up the interconnection queue for renewable assets, would significantly reduce the time it takes for clean energy to come online.”

At Fervo Energy, Latimer, who’s co-founder and CEO, is leading efforts to make geothermal power “a viable alternative to fossil fuels,” says Time.

Fervo recently received government approval for a geothermal power project in Utah that the company indicates could power two million homes. In addition, Fervo has teamed up with Google to power the tech giant’s energy-gobbling data centers.

In an interview with Time, Latimer echoes Chang in expressing a need for reforms in the clean energy industry.

“Addressing climate change is going to require us to build an unprecedented amount of infrastructure so we can replace the current fossil fuel-dominated systems with cleaner solutions,” says Latimer. “Right now, many of the solutions we need are stalled out by a convoluted permitting and regulatory system that doesn’t prioritize clean infrastructure.”

Taff, CEO of geothermal energy provider Sage Geosystems, oversees her company’s work to connect what could be the world’s first geopressured geothermal storage to the electric grid, according to Time. In August, Sage announced a deal with Facebook owner Meta to produce 150 megawatts of geothermal energy for the tech company’s data centers.

Asked which climate solution, other than geothermal, deserves more attention or funding, Taff cites pumped storage hydropower.

“While lithium-ion batteries get a lot of the spotlight, pumped storage hydropower offers long-duration energy storage that can provide stability to the grid for days, not just hours,” Taff tells Time. “By storing excess energy during times of low demand and releasing it when renewables like solar and wind are not producing, it can play a critical role in balancing the intermittent nature of renewables. Investing in pumped storage hydropower infrastructure could be a game-changer in achieving a reliable, clean energy future.”

Rice University researchers pioneer climatetech breakthroughs in clean water nanotechnology

tapping in

Researchers at Rice University are making cleaner water through the use of nanotech.

Decades of research have culminated in the creation of the Water Technologies Entrepreneurship and Research (WaTER) Institute launched in January 2024 and its new Rice PFAS Alternatives and Remediation Center (R-PARC).

“Access to safe drinking water is a major limiting factor to human capacity, and providing access to clean water has the potential to save more lives than doctors,” Rice’s George R. Brown Professor of Civil and Environmental Engineering Pedro Alvarez says in a news release.

The WaTER Institute has made advancements in clean water technology research and applications established during a 10-year period of Nanotechnology Enabled Water Treatment (NEWT), which was funded by the National Science Foundation. R-PARC will use the institutional investments, which include an array of PFAS-dedicated advanced analytical equipment.

Alvarez currently serves as director of NEWT and the WaTER Institute. He’s joined by researchers that include Michael Wong, Rice’s Tina and Sunit Patel Professor in Molecular Nanotechnology, chair and professor of chemical and biomolecular engineering and leader of the WaTER Institute’s public health research thrust, and James Tour, Rice’s T.T. and W.F. Chao Professor of Chemistry and professor of materials science and nanoengineering.

“We are the leaders in water technologies using nano,” adds Wong. “Things that we’ve discovered within the NEWT Center, we’ve already started to realize will be great for real-world applications.”

The NEWT center plans to equip over 200 students to address water safety issues, and assist/launch startups.

“Across the world, we’re seeing more serious contamination by emerging chemical and biological pollutants, and climate change is exacerbating freshwater scarcity with more frequent droughts and uncertainty about water resources,” Alvarez said in a news release. “The Rice WaTER Institute is growing research and alliances in the water domain that were built by our NEWT Center.”

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This article originally ran on InnovationMap.

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