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Houston climatech startup raises $29M funding round​

fresh funding

The company has developed thermal insulation technology that improves efficiency and safety in buildings and outdoor infrastructure. Photo via LinkedIn

Houston-based NanoTech Materials has closed a $29.4 million Series A.

The round was led by Austin-based HPI Real Estate & Investments. Houston-based Goose Capital and Austin-based Milliken & Company also participated.

Nanotech has developed its patented Insulative Ceramic Particle (ICP) technology, which reduces heat transfer in buildings and outdoor infrastructure, improving efficiency and safety. It's known for its Cool Roof Coat, Wildfire Shield and Insulative Coat: Cool Touch product lines.

With the new funding, Nanotech plans to scale operations and expand its market reach for its products.

“We’re addressing one of the pressing and urgent challenges facing infrastructure owners today: controlling energy costs and extending asset life,” Mike Francis, CEO and co-founder of NanoTech Materials, said in a news release. “This financing marks a transformative moment for us. It allows us to rapidly scale production and bring our high-performance materials to market faster, while delivering measurable cost savings and redefining what resilience looks like in today’s built environment.”

Nanotech launched in 2020 and was the first company selected for Halliburton Labs. It moved into a 43,000-square-foot space in Katy in 2023. It brought on new partners that expanded the company's reach in the Middle East and Singapore the following year. Its technology was recognized as one of Time magazine's 200 Best Inventions of 2024.

“We were early investors in Nanotech Materials and are pleased to continue supporting the company as it becomes a leader in breakthrough materials science and technology,” John Chaney, investor at Goose Capital and board member at NanoTech, added in the release. “NanoTech’s ability to elevate fire resilience and energy efficiency in the built environment is critical for strengthening and hardening infrastructure. Its pioneered approach is transforming current building standards and making our lives safer.”

The company has secured $34.4 million in total to date, according to the release. It raised an oversubscribed funding round in 2023 and a $5 million seed round in 2020.

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Time named its top innovations of the year — and two Houston-born energy transition inventions made the cut. Photo via Getty Images

2 Houston energy transition companies recognized for creating top inventions of the year

bright ideas

Innovations from two Houston energy transition companies have been crowned among the top inventions of the year.

Time magazine’s "200 Best Inventions of 2024" identified top innovations across consumer goods, home health, robotics, sustainability, and two dozen other categories.

Fervo Energy, a provider of geothermal power, was recognized the Green Energy category for its FervoFlex system. As Time explains, the system enables horizontal drilling into hot rock under the earth’s surface and pumping in water to generate hot water and steam. The geothermal energy that’s produced can be stored and released for future use by Fervo customers.

Jack Norbeck, Fervo’s co-founder and chief technology officer, predicts that by 2050, geothermal energy will become “the backbone of the decarbonized energy system.”

In September, Fervo secured a $100 million bridge loan for the first phase of its ongoing Cape Station project in Utah, which is being touted as the world’s largest geothermal energy plant. Slated for completion in June 2026, this initial phase is expected to generate 90 megawatts of renewable energy. Ultimately, the plant is supposed to supply 400 megawatts of clean energy by 2028 for customers in California.

Time also lauded NanoTech Materials among its Manufacturing and Materials honorees for its Insulative Ceramic Particle. This powder can be added to materials like drywall or shingles to improve fire resistance and decrease heat penetration, according to Time. NanoTech’s Wildfire Shield coating for buildings contains the powder. Wildfire Shield prevents damage to materials and harm from noxious smoke.

NanoTech’s other product, Cool Roof Coat, is painted on a building to decrease HVAC use. This year, NanoTech moved into a 43,000-square-foot space in Katy, Texas, and brought on new partners that expanded the company's reach in the Middle East and Singapore.

A third Houston company was also praised byTime is BiVACOR — named to its Experimental category of the list. The full list of this year's top inventions is available online.

———

This article originally ran on InnovationMap.

Nearly 20 Houston startups and innovators were named finalists for the 2024 Houston Innovation Awards this week. Photo via Getty Images

Houston energy transition innovators named finalists for annual awards program

best of the rest

The Houston Innovation Awards have named its honorees for its 2024 awards event, and several clean energy innovators have made the cut.

The finalists, which were named on EnergyCapital's sister site InnovationMap this week, were decided by this year's judges after they reviewed over 130 applications. More 50 finalists will be recognized in particular for their achievements across 13 categories, which includes the 2024 Trailblazer Legacy Awards that were announced earlier this month.

All of the honorees will be recognized at the event on November 14 and the winners will be named. Registration is open online.

Representing the energy industry, the startup finalists include:

  • Amperon, an AI platform powering the smart grid of the future, was named a finalist in the Energy Transition Business category.
  • ARIXTechnologies, an integrated robotics and data analytics company that delivers inspection services through its robotics platforms, was named a finalist in the Energy Transition Business and the AI/Data Science Business categories.
  • CLS Wind, a self-erection wind turbine tower system provider for the wind energy industry, was named a finalist in the Minority-Founded Business category.
  • Corrolytics, a technology startup founded to solve microbiologically influenced corrosion problems for industrial assets, was named a finalist in the Minority-Founded Business and People's Choice: Startup of the Year categories.
  • Elementium Materials, a battery technology with liquid electrolyte solutions, was named a finalist in the Energy Transition Business category.
  • Enovate Ai, a provider of business and operational process optimization for decarbonization and energy independence, was named a finalist in the AI/Data Science Business category.
  • FluxWorks, developer and manufacturer of magnetic gears and magnetic gear-integrated motors, was named a finalist in the Deep Tech Business category.
  • Gold H2, a startup that's transforming depleted oil fields into hydrogen-producing assets utilizing existing infrastructure, was named a finalist in the Minority-Founded Business and the Deep Tech Business categories.
  • Hertha Metals, developer of a technology that cost-effectively produces steel with fewer carbon emissions, was named a finalist in the Deep Tech Business category.
  • InnoVentRenewables, a startup with proprietary continuous pyrolysis technology that converts waste tires, plastics, and biomass into valuable fuels and chemicals, was named a finalist in the Energy Transition Business and the People's Choice: Startup of the Year categories.
  • NanoTech Materials, a chemical manufacturer that integrates novel heat-control technology with thermal insulation, fireproofing, and cool roof coatings to drastically improve efficiency and safety, was named a finalist in the Scaleup of the Year category.
  • SageGeosystems, an energy company focused on developing and deploying advanced geothermal technologies to provide reliable power and sustainable energy storage solutions regardless of geography, was named a finalist in the Energy Transition Business category.
  • Square Robot, an advanced robotics company serving the energy industry and beyond by providing submersible robots for storage tank inspections, was named a finalist in the Scaleup of the Year category.
  • Syzygy Plasmonics, a company that's decarbonizing chemical production with a light-powered reactor platform that electrifies the production of hydrogen, syngas, and fuel with reliable, low-cost solutions, was named a finalist in the Scaleup of the Year category.
  • TierraClimate, a software provider that helps grid-scale batteries reduce carbon emissions, was named a finalist in the Energy Transition Business category.
  • Voyager Portal, a software platform that helps commodity traders and manufacturers in the O&G, chemicals, agriculture, mining, and project cargo sectors optimize the voyage management lifecycle, was named a finalist in the AI/Data Science Business category.

In addition to the startup finalists, two energy transition-focused organizations were recognized in the Community Champion Organization category, honoring a corporation, nonprofit, university, or other organization that plays a major role in the Houston innovation community. The two finalists in that category are:

  • Energy Tech Nexus, a new global energy and carbon tech hub focusing on hard tech solutions that provides mentor, accelerator and educational programs for entrepreneurs and underserved communities.
  • Greentown Houston, a climatetech incubator and convener for the energy transition community that provides community engagement and programming in partnership with corporations and other organizations.

Lastly, a few energy transition innovators were honored in the individual categories, including Carlos Estrada, growth partner at First Bight Ventures and head of venture acceleration at BioWell; Juliana Garaizar, founding partner of Energy Tech Nexus; and Neal Dikeman, partner at Energy Transition Ventures.

NanoTech is targeting new overseas markets for its energy efficiency products. Photo via Getty Images

Promising Houston startup expands energy efficiency product to Middle East, Singapore

big move

NanoTech Materials has announced a big expansion for its business.

The Houston company, which created a roof coating using nanotechnology that optimizes energy efficiency, has partnered with Terminal Subsea Solutions Marine Service SP to bring its products to the Gulf Cooperation Council and Singapore. TSSM will become a partner of Houston’s NanoTech Materials products, which will include the Cool Roof Coat, Vehicular Coat, and Insulative Coat for the GCC countries and Singapore.

NanoTech Materials technology that ranges from roof coatings on mid- to low-rise buildings to shipping container insulation to coating trucks and transportation vehicles will be utilized by TSSM in the partnership. NanoTech’s efforts are focused on heat mitigation that can reduce energy costs, enhance worker safety, and minimize business risks in the process.

“Businesses and communities within the GCC and Singapore feel the impact of extreme temperatures and longer Summers more acutely than any other region in the world,” Mike Francis, CEO of NanoTech Materials, says in a news release. “We have an opportunity to make a real impact here through reduced energy load, cooler and safer working conditions, and a reduced carbon emissions output from the hottest, driest place on earth. We are incredibly excited to be partnering with our colleagues at TSSM to bring this powerful technology to the region.”

One of the areas that will benefit from this collaboration is the Middle East. The GCC region is characterized by a desert climate, which has average annual temperature reaching 107.6°F and summer peaks climbing as high as 130°F. The effects of these extreme conditions can be dangerous for workers especially with strict labor laws mandating midday work bans under black flag conditions, which can result in productivity losses as well.

NanoTech’s proprietary technology, the Insulative Ceramic Particle (ICP), will be used to address challenges in energy efficiency and heat control in the logistics and built environment sector. The platform can be integrated into many applications, and the impact can range from reducing greenhouse gas emissions to protecting communities that are wildfire-prone. The core of the technology has a lower conductivity than aerogels. It also has a “near-perfect emissivity score” according to the company. The NanoTech ICP is integrated with base matrix carriers; building materials, coatings, and substrates, which gives the materials heat conservation, rejection, or containment properties.

By combining the ICP into an acrylic roof coating, NanoTech has created the Cool Roof Coat, which reflects sunlight and increases the material's heat resistance. This can lower indoor temperatures by 25 to 45°F in single-story buildings and reduce the carbon emissions of mid to low-rise buildings. This can potentially equal energy savings from 20 percent up to 50 percent, which would surpass the average 15 percent savings of traditional reflective only coatings.

“This technology will have a huge impact on supporting the region's aggressive climate initiatives, such as Saudi Arabia’s Green Initiative, aiming to reduce carbon emissions by 278 million tons annually by 2030,” Jameel Ahmed, managing director at TSSM, says in the release. “The regional efforts to enhance climate action and economic opportunities through substantial investments in green technologies and projects are evident, and we are proud to be offering a product that can make a difference.”

NanoTech says its coating maintains its effectiveness over time and doesn’t suffer UV degradation issues which are helpful, especially in extreme weather conditions workers and businesses face in regions like the Middle East.

With a new partnership, NanoTech is hoping to help cool off Arizona. Photo via nanotechmaterials.com

Houston eco-focused materials startup launches initiative in Arizona

stay cool

Home to a persistent dry heat, Arizona is a prime market for energy-reducing tools and technologies — and one Houston company is jumping on the opportunity.

NanoTech Materials, which created the Cool Roof Coat that can extend a building's roof lifespan and reduce energy costs by seven to 15 percent, has announced a joint campaign with Cool Roof Coating Systems, a subsidiary of Tesson Roofing. Cool Roof Coating Systems will provide the installation of NanoTech's product, which is available nationwide.

"NanoTech products are designed to provide extraordinary heat rejection, and the team at Tesson is among the very best in the roof restoration market, which made a joint initiative in the extreme heat and intense Arizona sun a natural fit," Mike Francis, CEO and founder at NanoTech Materials, says in a news release. "As a direct-to-installer product, we rely on collaboration with highly qualified contractors. I am delighted at the founding of Cool Roof Coating Systems to bring a new level of sustainability to Arizona.

"Our vision at NanoTech is to transform sustainability in the built environment, starting with one of the biggest energy drains and sources of carbon emissions, one roof at a time," he adds.

The elastic, polymeric roof remediation solution is able to cut internal temperatures by 25°F to 30°F, which can be responsible for cutting carbon emissions by 76 tons annually in a 25,000-square-foot building, according to the company.

"Put simply, the heat-rejection performance of NanoTech Cool Roof Coat is so compelling that Tesson decided to form an Arizona-based company to tackle one of the hottest markets in the U.S. directly," Brett Tesson, president at Cool Roof Coating Systems, says in the release. "During my two decades in the roofing industry, NanoTech Cool Roof Coat is by far the most game-changing product for the roof restoration business because it allows us to coat, waterproof and protect, while adding unprecedented savings in HVAC cooling for our customers."

Last summer, NanoTech announced an oversubscribed funding round that brought onboard a handful of new investors. The details of the round were not disclosed, but the round was raised to help the company continue to roll out its product nationally.

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Fervo Energy, Mercury Fund leaders named first experts in residence for TEX-E

energy mentors

Two leading companies in Houston's clean energy scene have been named the Texas Exchange for Energy & Climate Entrepreneurship's first experts in residence.

TEX-E announced this month that Houston-based geothermal unicorn Fervo Energy and venture capital firm Mercury Fund have joined the nonprofit's new Expert-in-Residence partnership. The program aims to connect TEX-E Fellows with "the people and organizations shaping the future of energy and entrepreneurship."

The 2026 TEX-E Fellows were named in June and include 67 students from six Texas universities and the Massachusetts Institute of Technology. Nineteen are from Houston universities. See the full list here.

Through the Expert-in-Residence program, fellows will be able to network and work with:

"More than anything, students need the determination and creativity to step outside of their comfort zones and tackle problems that lack clear answers. At Fervo, we've consistently bet on young people who lack traditional 'hard skills' but are willing to embrace uncertainty and learn on the job. That open-mindedness will take students far," Jewett said in a prepared statement. Fervo named Jewett as COO in June.

TEX-E was founded in 2022 through partnerships with MIT Martin Trust Center for Entrepreneurship and Greentown Labs. It works with university students from six schools: Rice University, University of Houston, Prairie View A&M University, The University of Texas at Austin, Texas A&M University and MIT.

The organization named Houston venture capital and innovation leader Sandy Guitar as its new executive director last year. Guitar previously served as general partner and managing director at Houston-based VC firm HX Venture Fund and is co-founder of Weathergage Capital.

TEX-E is known for its student track within the Energy Venture Day and Pitch Competition at CERAWeek. It awarded $50,000 to student teams from the University of Texas and Rice University. Read more here.

BP to sell Houston’s Archaea Energy after $4.1 billion bet on biogas

RNG exit

Oil and gas conglomerate BP is unloading its Houston-based U.S. renewable natural gas business just four years after buying it.

The British company announced the planned sale of Archaea during its most recent earnings call but offered few details.

On the call, BP’s new CEO, Meg O’Neill, said her company had put Archaea on the market and already had attracted interest from potential buyers. BP acquired Houston-based Archaea Energy, the country’s largest producer of renewable natural gas (RNG), in 2022 for about $4.1 billion.

BP, whose North American headquarters is in Houston, is streamlining its portfolio. As such, O’Neill said Archaea represents a “capital intense” approach to biogas instead of the “capital light” approach BP now favors.

“If there’s somebody who sees an opportunity to create additional value, who will invest in that business, who will build on the foundation, because our team has made really good progress in improving the profitability of that business, then that will be a good outcome,” O’Neill told Wall Street analysts.

The proposed sale of Archaea is part of BP’s effort to sell about $20 billion in assets by the end of next year.

Archaea captures biogas, a natural byproduct of waste decomposition at landfills and dairy farms, and converts it into electricity or RNG. This process leads to cleaner air, less odor, and more sustainable energy than traditional fossil fuels.

Archaea was slated to be a cornerstone of BP’s plan to boost its biogas supply by roughly 600 percent to the equivalent of about 70,000 barrels of oil per day.

Bioenergy had been identified as one of bp’s five pillars of its multibillion-dollar energy transition initiative.

Another pillar: EV charging. Last month, BP agreed to sell its EV charging business in Austria to Switzerland’s Volenergy, along with 250 BP-branded stores and a fleet of business vehicles.

“By concentrating our capital on the assets and markets where BP can be most competitive and best serve customers, we are strengthening our balance sheet and creating a stronger downstream portfolio,” Richard Harding, interim executive vice president of downstream at BP, said of the Volenergy deal.

7+ must-attend Houston energy transition events for August 2026

Must-attend meetings

Editor's note: The second half of August has a full calendar of large-scale events and exhibitions, annual conferences, and more. Mark your calendars for these top Houston energy transition events taking place in August, and begin registering today.

August 17-20: IMAGE '26

Co-hosted by SEG and AAPG, the International Meeting for Applied Geoscience and Energy event (IMAGE '26) is the world’s premier gathering for geoscientists, energy professionals, and industry leaders to connect and innovate. A global audience from all sectors of geosciences and energy come together in Houston to collaborate and network through a comprehensive technical program with more than 1,100 presentations, engaging panel discussions, hands-on workshops and courses, and a unique exhibition experience.

This event begins August 17 at George R. Brown Convention Center. Register here.

August 18: Real Impact

The Renewable Energy Alliance of Houston for Real Impact 2026, the annual conference bringing together energy industry leaders, policymakers, business professionals, and community stakeholders to discuss the future of clean energy, infrastructure, innovation, and economic growth. This year's keynote speaker is Jason Ryan, executive vice president of regulatory services and government affairs at CenterPoint Energy. The conference concludes with a networking reception providing attendees an opportunity to continue the conversation and build new connections.

This event begins August 18 at 10 am, and space is limited. Register here.

August 18-19: AVEVA Day Energy & EPC

AVEVA Day Energy & EPC brings together 400+ leaders and experts from the oil & gas, energy, chemicals, and EPC industries. Attendees will connect with peers facing similar challenges, learn from real customer stories, and discover how companies are accelerating operations with AI and industrial intelligence.

This event begins August 18 at Westin Houston Memorial City. Register here.

August 26: Global Energy Summit

The fourth annual Global Energy Summit is where geopolitics meets the grid. The summit will feature DNV’s Global Energy Outlook, a long-range global and regional energy forecast shaping the trajectory of markets, security, and sustainability through 2060. These remarks will be followed by three panels covering global energy supply chains, Latin America's rising, and the future of global energy security in the age of AI. Closing remarks will be by Robert Bryce, a veteran author and journalist, who explores the intersection of energy, policy, and innovation.

This event. begins at 1 pm on August 26 at Amegy Bank Tower. Register here.

August 26-27: Texas Energy Forum 2026

Organized by U.S. Energy Stream, the 2026 conference will focuses on the theme, "AI Runs on Texas Energy: How Texas and Alberta Are Powering the AI Revolution." The forum brings together U.S. Senators, members of Congress, senior government officials, and leaders from the energy, technology, manufacturing, and financial sectors for candid discussions on the energy, infrastructure, and technological advancements required to power the AI revolution and strengthen American competitiveness.

This event begins August 26 at the Petroleum Club of Houston. Register here.

August 27: TXOGA Energy Elevated Technology Showcase

This annual event highlights innovative technologies aimed at enhancing efficiency, sustainability, and safety within the oil and natural gas industry. The showcase brings together entrepreneurs, startups, and established companies to present their technologies and solutions that address challenges faced by the energy sector.

This event takes place August 27 at Hyatt Regency Houston. Register here.

August 28: Chevron Innovation Competition- Final Round

The University of Houston presents the 5th Annual Chevron Innovation Commercialization Competition. This dynamic event empowers students to transform their cutting-edge energy research into real-world solutions. The event is sponsored by Chevron and organized by UH Energy.

This event begins August 28 at 2 pm on the UH campus. Register here.

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