Helix Earth's technology is estimated to save up to half of the net energy used in commercial air conditioning, reducing both emissions and costs for operators. Photo by Sergei A/Pexels

A Houston startup with clean tech originating out of NASA has secured millions in funding.

Helix Earth Technologies closed an oversubscribed $5.6 million seed funding led by Houston-based research and investment firm Veriten. Anthropocene Ventures, Semilla Capital, and others including individual investors also participated in the round.

“This investment will empower the Helix Earth team to accelerate the development and deployment of our first groundbreaking hardware technology designed to disrupt a significant portion of the commercial air conditioning market, an industry that is ready for innovation,” Rawand Rasheed, Helix Earth co-founder and CEO, says in a news release.

Helix Earth was founded based on NASA technology co-invented by Rasheed and spun out of Rice University and has been incubated at Greentown Labs in Houston since 2022. Currently being piloted, the technology is estimated to save up to half of the net energy used in commercial air conditioning, reducing both emissions and costs for operators.

“The enthusiastic response from investors reinforces our team’s confidence in our ability to transform innovation-starved sectors such as commercial air conditioning with an easy-to-install-and-maintain solution that benefits distributors, mechanical contractors, and most of all, building owners, with a positive benefit to the environment,” Rasheed says.

Prior to its raise, the company received grant funding from the National Science Foundation and the United States Department of Energy.

“We couldn’t be more excited to partner with the Helix Earth team," Maynard Holt, Veriten’s founder and CEO, adds. "We were so impressed with their unique combination of a technology with broad applicability across multiple industries, a product that will have an immediate and measurable impact on our energy system, and a fantastic and well-rounded team.”

Helix Earth, per the release, reports that is also looking to provide solutions for commercial humidity control and carbon capture.

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This article originally ran on InnovationMap.

Branch Energy aims to provide customers with clean energy at a lower cost than competitors. Photo via Getty Images

Houston clean energy provider raises $10.8M series A

money moves

A tech-driven retail energy provider based in Houston has secured an oversubscribed series A round of funding.

Branch Energy raised a $10.8 million round led by climate-focused venture capital firm Prelude Ventures with co-investor Zero Infinity Partners, an infrastructure tech-focused firm. The fresh funding will go toward accelerating the company's battery management tech and build out the infrastructure of its field services.

A vertically integrated power provider, Branch Energy aims to provide customers with demand management software and battery storage systems to ensure long-term, stable, and clean energy at a lower cost than competitors.

“Our century-old grid design is not equipped for the complexity of today’s energy needs," Alex Ince-Cushman, Branch Energy co-founder and CEO, says in a news release. “Optimizing distributed energy assets in real-time will play an increasingly important role in managing the grid. We built Branch from the ground up as a technology company, allowing us to deliver value to customers in this new era of distributed energy by reducing costs while improving reliability."

The company chose Texas as its inaugural market based on the stress of the grid in the state, the company says in the release. Since 2021 when Branch Energy launched, it has signed up thousands of customers for its 100 percent clean energy service. The business proposition includes lowering customer's energy bills by 5 to 10 percent.

“The power grid, especially in Texas, requires distributed generation and flexible loads as basic economics drives deployment of more renewable resources,” Tim Woodward, managing partner at Prelude Ventures, adds. “Across the country, we are experiencing a major shift toward a decentralized and decarbonized grid. Branch Energy is bringing value to its customers through deployment of intelligent storage that lowers costs and improves reliability.”

Branch Energy, which is available now in some Texas regions, had previously raised $5.5 million in seed and pre-seed funding, per Crunchbase.

Digital Wildcatters, founded by Collin McLelland (right) and Jacob Corley, just raised $2.5 million in funding. Photo courtesy

Houston energy workforce-focused startup raises $2.5M seed funding

cha-ching

With $2.5 million in fresh funding, Digital Wildcatters is on its way to keep empowering the evolving energy workforce.

Digital Wildcatters, a Houston company that's providing a community for the next generation of energy professionals, has closed its seed plus funding round at $2.5 million. The round by energy industry veteran Chuck Yates, who also hosts his podcast "Chuck Yates Needs a Job" on the Digital Wildcatters' podcast network.

"Our industry's survival depends on recruiting the next generation of energy workers. We must adapt to their digital, content-rich world, as we currently lag behind, like a VHS tape in a Netflix world. Digital Wildcatters is our path to modernization," Yates, based in Richmond, Texas, says in the news release.

Diamondback Energy and ProFrac also contributed to the round, which closed on December 1 and follows up on the company's $2 million seed round raised from angel investors in 2021.

The fresh funding will go toward further development and commercialization of Collide, an energy industry professional networking app, which launched this fall. The app aims to help advance and support the industry through professional development connection, job portal, and an AI-backed content search engine for industry information.

"Our mission is to empower the next generation of energy professionals to advance their careers and collaboratively address the global energy crisis," Collin McLelland, co-founder and CEO of Digital Wildcatters, says in the release. "We are incredibly grateful to have an investor base that not only believes in our vision but also supports our endeavor to craft innovative products that will redefine the future of the energy industry."

McLelland co-founded Digital Wildcatters with Jake Corley. The two started the Oil and Gas Startups podcast in 2019.

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This article originally ran on InnovationMap.

Vaulted Deep, which diverts sludgy organic waste from landfills or waterways and captures and stores carbon emissions generated, is getting off the ground with $8 million from investors. Photo via Getty Images

Houston company's sustainable spinoff launches with $8M in seed funding

vaulted with capital

Houston-based Advantek Waste Management Services, which specializes in deep-injection wells that minimize the impact of land, air, and water waste, has launched a carbon removal and storage company.

The spinoff, Vaulted Deep, is getting off the ground with $8 million in seed funding.

Vaulted diverts sludgy organic waste, such as agricultural and livestock waste, before it’s dumped in a landfill or waterway or simply left on land to decompose. It then captures and stores carbon emissions generated by the organic waste.

A study published earlier this year by Louisiana State University ecologist Brian Snyder estimated that organic waste generates five gigatons of carbon dioxide per year. A gigaton equals one billion metric tons.

Vaulted is already off to an impressive start. For one thing, the startup has raised an $8 million seed round led by New York City-based carbon removal fund Lowercarbon Capital. Other investors include Advantek and San Francisco-based climatech VC fund Earthshot Ventures.

In addition, Vaulted has already nailed down purchase commitments from Frontier, a marketplace for buyers and sellers of carbon removal credits. Ryan Orbuch, a partner at Lowercarbon, is one of Frontier’s strategic advisers.

“Vaulted is literally cleaning up the planet, scaling field-proven injection terminology to safely dispose of harmful wastes like biosolids while permanently storing away millions of tons of CO2,” Orbuch says in a Vaulted news release.

While injection sequestration sites often take years to gain permits and start operating, Vaulted already boasts two permitted sites that are up and running. Vaulted offers carbon removal for $300 per ton, compared with more than $500 per ton charged by some competitors.

Advantek founder Omar Abou-Sayed is switching from CEO to chairman of Advantek, which launched in 1999, and will serve as executive chairman of Vaulted. Julia Reichelstein, a former investor at San Francisco-based climatech VC fund Piva Capital, has been tapped as CEO of Vaulted.

“Unlike many carbon removal technologies still in R&D, Vaulted’s technology and sites can safely and permanently store carbon underground, at scale, today,” says Abou-Sayed. “The early removals we will deliver are pivotal to keeping the window open to hold our planet’s warming below 1.5 degrees Celsius.”

An Austin-based energy software company just scored funding from Houston investors. Photo via Getty Images

Houston VCs back energy software startup in $3.25M seed round

fresh funding

Houston-based investment firm Goose Capital led a $3.25 million round of seed funding revealed recently by Austin-based cleantech software company P6 Technologies.

Other participants in the round are Houston-based investment firms Artemis Energy Partners, Tupper Lake Partners, and Veritec Ventures. The seed round represents the first outside funding for P6, which maintains an office in Houston.

In conjunction with the seed funding:

  • Artemis founder and CEO Bobby Tudor has joined P6’s board of directors. He is an investor in Goose Capital.
  • Paal Kibsgaard, managing partner of Veritec, also has joined the P6 board. Kibsgaard is former chairman and CEO of Houston-based oilfield services company Schlumberger, which now does business as SLB.

Joe Berti, CEO of P6, says Kibsgaard’s “unparalleled experience” will benefit his company.

“Veritec’s strategic vision and active support of energy transition solutions align perfectly with our goals, and I am confident their contribution will be instrumental in shaping our future success,” Berti says in a news release.

Berti is former chief product officer of IBM’s sustainability software unit.

P6, founded in 2022, sells enterprise software to businesses in the energy, transportation fuel, and petrochemical sectors. The startup’s software for product lifecycle assessment enables measurement of the product-level intensity of greenhouse gas (GHG) emissions as energy companies try to achieve sustainability goals.

Tudor applauds P6 for helping fossil fuel-anchored companies reduce GHG emissions.

“Energy is the sector that needs a solution like P6 the most,” says Tudor. “P6 has the right approach and is going to make a step-change improvement to how product-level carbon intensity and GHG emissions are tracked today.”

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ExxonMobil invests over $200M in Texas advanced recycling sites

doubling down

ExxonMobil announced that it plans to invest more than $200 million to expand its advanced recycling operations at its Baytown and Beaumont sites that are expected to start in 2026. The new operations can help increase advanced recycling rates and divert plastic from landfills, according to ExxonMobil.

“We are solutions providers, and this multi-million-dollar investment will enhance our ability to convert hard-to-recycle plastics into raw materials that produce valuable new products,” says Karen McKee, president of ExxonMobil Product Solutions, in a news release.

The investment plans to add 350 million pounds per year of advanced recycling capacity at Baytown and Beaumont, which will bring ExxonMobil’s total capacity to 500 million pounds annually. The first Baytown facility started in 2022 and represents one of the largest advanced recycling facilities in North America by having processed more than 70 million pounds of plastic waste.

“At our Baytown site, we’ve proven advanced recycling works at scale, which gives us confidence in our ambition to provide the capacity to process more than 1 billion pounds of plastic per year around the world,” McKee said in a news release. “We’re proud of this proprietary technology and the role it can play in helping establish a circular economy for plastics and reducing plastic waste.”

Advanced recycling works by transforming plastic waste into raw materials that can be used to make products from fuels to lubricants to high-performance chemicals and plastics. Advanced recycling allows for a broader range of plastic waste that won't be mechanically recycled and may otherwise be buried or burned.

ExxonMobil will continue development of additional advanced recycling projects at manufacturing sites in North America, Europe and Asia with the goal of reaching 1 billion pounds per year of recycling capacity by 2027.

Houston-based Fervo Energy collects $255M in additional funding

cha-ching

A Houston company that's responding to rising energy demand by harnessing geothermal energy through its technology has again secured millions in funding. The deal brings Fervo's total funding secured this year to around $600 million.

Fervo Energy announced that it has raised $255 million in new funding and capital availability. The $135 million corporate equity round was led by Capricorn’s Technology Impact Fund II with participating investors including Breakthrough Energy Ventures, CalSTRS, Congruent Ventures, CPP Investments, DCVC, Devon Energy, Galvanize Climate Solutions, Liberty Mutual Investments, Mercuria, and Sabanci Climate Ventures.

The funding will go toward supporting Fervo's ongoing and future geothermal projects.

“The demand for 24/7 carbon-free energy is at an all-time high, and Fervo is one of the only companies building large projects that will come online before the end of the decade,” Fervo CEO and Co-Founder Tim Latimer says in a news release. “Investors recognize that Fervo’s ability to get to scale quickly is vital in an evolving market that is seeing unprecedented energy demand from AI and other sources.”

Additionally, Fervo secured a $120 million letter of credit and term loan facility from Mercuria, an independent energy and commodity group that previously invested in the company.

“In surveying power markets across the U.S. today, the need for next-generation geothermal is undeniable,” Brian Falik, group chief investment officer of Mercuria, adds. “We believe in Fervo not just because their EGS approach is cost-effective, commercially viable, and already being deployed at scale, but because they set ambitious targets and consistently deliver.”

In February, Fervo secured $244 million in a financing round led by Devon Energy, and in September, the company received a $100 million bridge loan for the first phase of its ongoing project in Utah. This project, known as Project Cape, represents a 100x growth opportunity for Fervo, as Latimer explained to InnovationMap earlier this year. As of now, Project Cape is fully permitted up to 2 GW and will begin generating electricity in 2026, per the company.

Other wins for Fervo this year include moving into its new headquarters in downtown Houston, securing a power purchase agreement with California, growing its partnership with Google, and being named amongst the year's top inventions by Time magazine.


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This article originally ran on InnovationMap.