seeking impactful tech

Transocean calls for energy innovators, extends deadline for submissions

Transocean is looking for Houston innovators to help them on their decarbonization journey. Photo via Transocean

A major energy corporation has put its feelers out for Houston innovators solving for challenges within the decarbonization of offshore drilling operations.

Transocean, a Switzerland-based offshore energy leader with its United States headquarters in Houston, kicked off its Transocean Open Innovation Challenge this fall. The original deadline has been extended to December 15, and the program is in partnership with the Ion. The submission page is available online.

"Ion is proud to partner with Transocean, a global leader in offshore drilling, to launch this exciting challenge that invites startup companies, academics and entrepreneurs to contribute their innovative ideas with the potential for pilot opportunities and deep-dive engagements with Transocean in the future," reads a statement from the Ion. "Finalists will have the opportunity to pitch their ideas in front of a live audience, and the winning team may be awarded a pilot project with Transocean, offering a real-world testing ground for your innovative solutions."

Finalist selection will be hosted digitally in February, and the demo day and winner announcement will be in March at the Ion. The winner will have the potential opportunity to run a field trial with Transocean,

According to Transocean, the objections for the program are:

  • To engage as a customer to identify innovative technologies that allow us to physically reduce the carbon footprint of our offshore well construction operations
  • To explore novel and proven concepts that are ready or nearly ready to pilot
  • To discover providers, technology and solutions that are outside our core business, oil and gas exploration and drilling

For more information, please contact Ragen Doyle, corporate engagement Officer, at rdoyle@ionhouston.com.

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A View From HETI

Helix Earth is developing a retrofit technology that has the potential to cut HVAC energy use by up to 50 percent. Photo via Getty Images

Houston-based Helix Earth Technologies has closed a $12 million Seed 2 funding round to scale manufacturing of its energy-efficient commercial HVAC add-on technology.

Veriten, a Houston-based energy investment firm, led the round. Rua Ventures, Carnrite Ventures, Skywriter LLC and Textbook Ventures also participated.

Helix Earth—which was founded based on NASA technology, spun out of Rice University and has been incubated at Greentown Labs—is developing high-efficiency retrofit dehumidification systems that aim to reduce the energy consumption of commercial HVAC units. The company reports that its technology can lead to "healthier indoor air, lower energy bills, reduced building maintenance, and more comfortable spaces for building owners and occupants."

"Building owners are dealing with rising energy costs, uncontrolled humidity, and aging infrastructure with no viable, cost-effective path forward. We are in the field today solving these problems for commercial customers, and this capital puts us on an aggressive path to scale,” Rawand Rasheed, Helix Earth co-founder and CEO, said in a news release.

“The strength of this round reinforces our team's conviction that we can transform innovation-starved sectors with transformational solutions that deliver order-of-magnitude improvements to owners and operators, for both their bottom line and the environment,” Rasheed added.

Maynard Holt, Veriten’s founder and CEO, said that the investment firm is tripling its investment in Helix Earth.

"The team has built breakthrough technology with real applicability across multiple industries,” Holt said in the release. “Their first product will have an immediate and measurable impact on our energy system, and they are already pursuing adjacent innovations to help heavy industries operate more efficiently and with less waste. This is a well-rounded team with a proven track record of strong execution and disciplined capital management.”

Helix Earth also closed a $5.6 million seed funding round in 2024, led by Veriten.

Last year, the company secured a $1.2 million Small Business Innovation Research (SBIR) Phase II grant and won in the Smart Cities, Transportation & Sustainability contest at the 2025 SXSW Pitch Showcase. Rasheed was also named to the Forbes 30 Under 30 Energy and Green Tech list for 2025.

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