Houston investors have seeded an Austin-based company developing a platform to boost corporate sustainability.
P6 Technologies Inc. announced the $3.25 million seed round last week. Houston-based Goose Capital led the round, which was also supported by Artemis Energy Partners — the advisory and investment firm founded by Bobby Tudor, former chair of the bank Tudor Pickering and Holt Co. Tudor is also a member of Goose Capital.
Other Houston-area investors in the round included Veritec Ventures and Tupper Lake Partners, according to P6’s announcement.
As part of the deal, Tudor has joined the board of P6 Technologies. Paal Kibsgaard, former CEO of oil field services giant Schlumberger Ltd. (NYSE: SLB) and managing partner of Veritec, also joined the P6 board.
"P6 has the right approach and is going to make a step-change improvement to how product-level carbon intensity and [greenhouse gas] emissions are tracked today," Tudor said in the announcement.
The funding will be used to bring P6’s primary product, its Life Cycle Assessment enterprise software platform, to market. The LCA platform is intended to help fossil fuel-based companies comply with regulations on carbon intensity around the globe. P6, led by CEO Joe Berti, is targeting customers in the energy, transportation fuel and petrochemical industries.
Artemis was founded in 2022 after Tudor retired from TPH. The firm recently invested in San Francisco-based Puloli, a company specializing in real-time emissions monitoring.
Tudor is one of several business leaders in Houston’s energy sector to highlight a need for established capital to progress the energy transition both locally and worldwide. During CERAWeek 2021, Tudor estimated that $2 trillion would be needed annually to meet the goals of the Paris Agreement. He also said renewables projects would need to deliver more in returns to interest investors.
Meanwhile, notable companies Goose Capital has invested in include Houston-based Syzygy Plasmonics, which develops chemical reactor platform technology using light as a catalyst. Goose invested in multiple rounds for Syzygy, including its $23.9 million series B round in 2021.
Austin Business Journal's Will Anderson contributed reporting.
