Skip to main content

Software Startup Wins First-Ever Energy Transition Pitch Competition at CERAWeek

Published Mar 16, 2022 by Brina Morales

Energy Transition pitch competition category winners

Presenters during Energy Transition pitch competition at CERAWeek

An edge computing software startup won the first-ever Energy Transition Ventures Day pitch competition hosted by the Partnership’s Houston Energy Transition Initiative in partnership with Greentown Labs, Halliburton Labs, The Ion, Rice Alliance and Chevron. 

The competition, which was held during CERAWeek, was an opportunity for the Partnership to convene key energy industry members and investors and spotlight innovative energy transition startups in Houston and beyond.

The startup Parasanti beat 11 other companies for the top prize: an invitation to participate in the Chevron Technology Ventures catalyst program

“I was elated. It’s such an incredible opportunity,” said Carrie Horazeck, President of Parasanti Commercial. 

Parasanti, founded in 2019, is an edge computing service that provides real-time analytics to on-the-ground operators in remote and extreme environments that have little to no internet connection. That technology allowed Parasanti to succeed in the federal sector by working closely with the U.S. Department of Defense on tactical deployments for soldiers and other projects. In May 2021, the company launched its commercial branch to support operations and maintenance personnel on oil and gas wells, wind and solar farms, and distributed energy resources hubs for utilities. 

“Anytime you have a guy or gal in a hard hat trying to make real-time decisions with data when they don't have the internet and can't rely on getting the data back to the cloud – that’s where we come in,” Horazeck said.

Though based in Austin, Parasanti is no stranger to Houston and has a relationship with both Halliburton Labs and Greentown Labs. Horazeck said their work in Houston focuses on “accelerating digital solutions for reducing the impact of oil and gas operations on the environment” and enhancing its wind and solar SCADA systems. The company hopes to grow its commercial branch by advancing and developing energy solutions in the city leading the energy transition.

Houston “offers a unique opportunity to tap into the knowledge of the industry's history while simultaneously accessing resources to build the industry's future. The level of collaboration between accelerators/VCs/ and incubators here is incredible,” Horazeck said. “There is just a different energy in the air. Everyone is driving towards the same goal, pooling intellectual capacity to accelerate the energy transition.”

During the pitch competition, a total of 12 startups competed across four categories: carbon capture, use and storage, hydrogen solutions, energy storage and circular economy. A panel of investors selected the top pitch in each category. Here are the winners that were recognized in each category:

CCUS

•    OCO Chem – Washington-based startup with technology that provides a more sustainable way to convert CO2 into useful products and store renewable energy

Hydrogen Solutions

•    Fyskies Bio – Houston-based startup that develops renewable green via the production of hydrogen and concentrated CO2 from direct air capture and industrial CO2 capture technologies

Energy Storage

•    Revterra – Houston-based startup developing a clean kinetic energy storage system for both high power applications (such as EV charging) and long duration applications (such as solar and storage or energy arbitrage)

Circular Economy

•    Applied Bioplastics – Austin-based company that offers plant-based plastic alternatives.

 

Learn more about how Houston is leading the global energy transition and explore Houston's thriving innovation ecosystem.

Related News

Economic Development

Houston Remains Top Player in Attracting New Companies

3/22/23
The Houston region continues to attract new companies, proving it remains a top destination for companies looking to relocate, expand or establish new operations. According to a Partnership analysis, the new business category accounted for more than 50% of new business announcements in 2022. Site Selection Magazine reported the Houston-The Woodlands-Sugar Land MSA won 255 projects in 2022, ranking third among large U.S. metros. The Chicago metro ranked first with 448 projects, while Dallas-Fort Worth-Arlington ranked second with 426 projects. The Partnership reported 199 new business announcements in the Houston area in 2022, a lower number than Site Selection Magazine due to differences in reporting structure and data retrieval methods. Manufacturing was the most common sector, representing 29% of all announcements, according to the Partnership analysis. A few noteworthy Partnership-supported projects include: Orsted - a leading offshore wind developer from Denmark is expanding its presence in Texas by establishing a new office in the Woodlands. The move is expected to create up to 100 jobs in the region. Syzygy Plasmonics - a Houston-based energy 2.0 company is expanding its operations to Pearland. The new location will serve as HQ, R&D, and manufacturing for its deep-decarbonization platform, creating up to 120 jobs. Alfred Talke Logistic Services - a German logistics firm is establishing a new facility in the region, serving as its U.S. headquarters. This project represents a $25 million investment and will create 240 jobs. Texas as a whole remains the top destination in the nation for new companies. Site Selection Magazine awarded Texas its 11th consecutive, and 19th total, Governor's Cup for the most total capital investment projects in the nation for 2022 with 1,028 projects. This was more than twice the number of projects that second-place Illinois attracted. In order for a project to be counted toward the Governor’s Cup race, projects must meet one or more of these criteria: a minimum investment of $1 million, the creation of 20 or more new jobs, or 20,000 square feet or more of new construction. Despite a slight dip from the 2021 project count of 1,123, Governor Greg Abbott told Site Selection Magazine he remains optimistic about Texas’ future, congratulating the “exceptional economic development teams at the local, regional, and state level who work so diligently to attract and retain these growing businesses and the jobs they create in communities across Texas.” Texas remains number one in the United States for the most Fortune 500 headquarters, with Houston being number one in Texas. Twenty-four of Texas’ 53 Fortune 500 headquarters are located in Houston.   Governor Abbott also touted the state’s lack of an individual income tax, its business-friendly regulatory environment, workforce, and recent investments in infrastructure as reasons why more and more businesses are choosing to relocate or expand in Texas. Referring to Texas as the “economic engine of the nation,” Governor Abbott stressed that in order for the state to remain a leader on the national and global levels, it would need to continue to “lead with major capital investments in critical industries such as advanced manufacturing and energy production” and to “work collaboratively with local economic development organizations and business communities and maintain strategic economic development tools.” Maintaining these competitive advantages is a key issue state legislators are addressing during the current legislative session. House Bill 5, which the Partnership supports, aims to establish a new economic development incentive program to attract new businesses. Learn more about why companies choose Houston.  
Read More
Aerospace & Aviation

Houston House Returns to SXSW to Spotlight Tech and Innovation

3/17/23
Houston House returned to Austin for the South by Southwest Conference for its third year, bringing a new group of panelists and industry experts together to deliver a full day of thought-provoking content for over 750 attendees. Houston-based industry leaders and innovators discussed the startup journey, how they’re challenging the status quo in their respective industries to improve products or services, and more. If you were unable to join the Partnership at SXSW, check out our recap of the conversations below.    Demystifying the Startup Journey  Houston House kicked off its day of programming by dispelling the mystique surrounding the startup journey and answering questions about hiring, funding, and finding the right product-market fit. Panelists discussed in-depth how to find and attract the right talent, including cost-effective strategies and solutions for cash-strapped founders, and what they wished they had done differently during their various rounds of funding.  Panelists:  Ted Gutierrez, Co-Founder and CEO, SecurityGate.io  Gaurav Khandelwal, Founder and CEO, Velostics  Simone May, Co-Founder and CTO, Clutch  Moderator: Natalie Harms, Editor, Innovation Map    The Future is Female: Triumphs of Women in Tech  It’s no secret that female founders face a unique set of challenges compared to their male counterparts, especially when funding their next business venture. The panel discussed funding challenges, how they challenge stereotypes in male-dominated industries, and overcoming the feelings of guilt and inadequacy that plague women in business.  “The insecurity women feel that ‘we're not good enough' needs to go. Men don't experience that.” - Lydia Davies, Founder & CEO of TEAMATES  Panelists:  Lydia Davies, Founder and CEO, TEAMATES  Taci Pereira, CEO, Systemic Bio  Janice Tran, Co-Founder and CEO, Kanin Energy  Moderator: Carrie Colbert, Founding and General Partner, Curate Capital    Building a Tech Unicorn  Every tech startup hopes to become the next unicorn, but not everyone makes the cut. Featuring an in-depth conversation with Solugen’s co-founder and CEO, Gaurab Chakrabarti, the panel covered his background growing up in Houston, the surprising marketing campaign that put Solugen on the map, and the journey leading to it becoming a tech unicorn.  Gaurab Chakrabarti, Co-Founder and CEO, Solugen  Moderator: Payal Patel, Principal, Softeq Ventures and Director, Softeq Venture Studio    Click to expand People packed the room at Houston House to hear from Solugen CEO Gaurab Chakrabarti.   Unlocking the Power of AI: Insights & Innovations  Technology and innovation converged in this panel discussing recent developments in artificial intelligence and what the future of business will look like as it becomes more widespread and advanced, including the policies and legislation that may become necessary as AI becomes more intelligent. From song lyrics written in the style of Taylor Swift to how the health care industry is utilizing this technology to better serve its patients, it is clear that we are just beginning to scratch the surface of AI’s capabilities.  “The Ion [in Houston] is going to bring innovation, elevate clean tech energy, and push health care to the next level. That’s why we want to be involved and that’s why you should too.” - Murat Uralkan, Director of Innovation at Houston Methodist Panelists:  Sidd Gupta, Co-Founder and CEO, Nesh  Rob Meadows, Founder and CEO, AI Foundation  Murat Uralkan, Director of Innovation, Houston Methodist  Moderator: Dave Mathews, Principal Venture Capitalist and CTO Advisor, Softeq    Connecting Industries, Empowering Innovation  Ever wondered what it looks like when the brightest minds in different industries come together? The nexus of innovation and collaboration across industries in Houston took center stage in this discussion of how industry leaders can continue to break down traditional barriers and create advancements in everything from biotech to the energy transition.  Panelists:  Barbara Belvisi, Founder and CEO, Interstellar Lab  Moji Karimi, Co-Founder and CEO, Cemvita Factory  Nic Radford, Founder, President, and CEO, Nauticus Robotics  Moderator: Brad Rossacci, Creative Director, Accenture  The Houston House program at SXSW 2023 will be available to stream on-demand soon.  Learn more about Houston’s innovation ecosystem. 
Read More

Related Events

Economic Development

Business Beyond Borders

Join us on Wednesday, May 31 for Business Beyond Borders. Business Beyond Borders features insights into international trade and investment in which the Partnership and member…

Learn More
Learn More
Executive Partners