Aerospec Technologies was named Most Promising Energy and Clean Technology Company at the 16th Annual Energy & Clean Technology Venture Forum in Houston last week.
The Rice Alliance for Technology and Entrepreneurship hosted the event and more than 90 companies showcased their new offerings at the largest energy venture capital conference in the Southwest with 650 attendees, including investors, venture capitalists, industry representatives, business leaders, service providers, and entrepreneurs.
The two-day event culminated in an announcement of the 10 Most Promising Energy & Clean Technology Companies Award companies chosen from more than 225 startup applicants and judged by the Rice Alliance Energy & Clean Technology industry experts and interest generated from participating investors. Seventy-five investors groups, including nearly all the major energy companies, met with 90 startups at office hours the day before the forum. More than 50 companies presented their business pitch at the forum, with an additional 30 participating in the company showcase. This was the most startups to ever participate in the Energy Forum.
With its AI-powered solution in the energy industry, Aerospec Technologies was named one of the Most Promising Energy and Clean Technology Venture Companies at the forum. Based in Boston, a hub for some of the world’s leading artificial intelligence development, Aerospec leverages the power of computer vision and machine learning and has developed an AI+Drone solution to optimize infrastructure inspection in the energy industry. Bridging the gap between the increasingly commoditized drone-based inspections and automated data analytics, Aerospec helps clients such as solar asset owners reduce conventional inspection costs and time by up to 50% and 90% respectively. (Learn more in our case study.)
Judges at the forum also recognized Aerospec’s ability to bring the renewable energy industry to a new level of efficiency in the processes of asset operations and maintenance.
“The forum brought together some of the most innovative companies in clean technology around the world, it was an invaluable opportunity to meet with aspiring entrepreneurs and connect with interested ventures about our company ” said Lance Li, the CEO of Aerospec Technologies. “We have already made some quality contacts from the forum and look forward to expand our footprint in other strategic industries with our product offerings”.
From homeowners to utility-scale businesses, today’s consumers are attaching more importance to the reliability, affordability, and sustainability of energy and clean technology. At each year’s Rice Alliance Energy & Clean Technology Venture Forum, the most frontier clean technologies and the latest business models across the country will be brought together and receive thorough discussions.
“Every year the quality of companies improves,” said Rice Alliance managing director Brad Burke, who presided over the announcement of the winners of the Energy & Clean Technology Venture awards at the event. “Over the past 16 years, more than 2,000 companies have presented at Rice Alliance Technology Venture Forums. These companies have raised more than $5.4 billion in funding. This speaks to the quality of the companies and to the robust entrepreneurial ecosystem of investors that has been developed to support these companies. Despite the challenging economic environment over the past several years, good companies have been able to attract investors.”
Aside from Aerospec, other nine companies including Arix Technologies, Belmont Technology, DataGumbo, Factor Technology, INNOWEL, LaserStream, LongPath Technologies, OceanComm, and Sensoleak Global were also named as the most promising companies at the forum.
The Forum was supported by:
Chevron, Shell, Mercury Fund, Wells Fargo, BP, GE, Saudi Aramco Energy Ventures, Shearman TechnipFMC, Total, Anadarko, Altira, ConocoPhillips, Equinor, Lime Rock Partners, EV Equity Investment, Energy Innovation Capital, Pioneer Energy, DCP Technology Ventures, Norton Rose Fulbright, PKF Texas, Winstead, Insperity, Hunton Andrews Kurth, Clovis Point Capital, Vinson & Elkins LLP, Energy Valley, Inc., Leyendecker Executive Search, Blackstone, Greater Houston Partnership, Canadian Consulate, ATI and CleanTech Open, Energy Valley, Inc. Houston Angel Network and U.S. Department of Energy and Houston Exponential.
Aerospec provides you:
- Proven expertise in the renewable energy industry
- Reliable integration of hardware and software
- An AI-powered platform for advanced analytics
- Experts on board (FAA certified UAS pilots, solar researchers, certified thermographers)
- Safety-first mindset (zero incident record to-date)
