Big bets on energy technology are piling up across Louisiana.
Startup Prize held its first energy competition, awarding cash to two energytech companies. Then, Black Bayou Energy Hub announced a $1.6 billion investment in its Louisiana facilities.
Despite all eyes on energy tech, a biotech win broke through, too. Beken Bio, which recently expanded to New Orleans, landed a grant to advance its cancer detection technology.
Read on for news on all the above, and more Louisiana money moves.
Startup Prize: Energy awards $10k to each inaugural winner
Two Southern startups took home top honors at the inaugural Startup Prize: Energy competition in August.
The Shreveport pitch event, which invites applicants from around the US, awarded $10,000 each to Texas-based LOCOAL and NovaSpark Energy in West Monroe, Louisiana, winners of the fuels and hydrocarbons and electricity tracks, respectively.
NovaSpark, backed by investor Metairie-based Boot64 and the Monroe-based Maven Scouts accelerator, is developing hydrogen energy technology designed to be deployed quickly and moved wherever power is needed. In June, the startup announced a $30 million investment across its West Monroe and Houma operations to scale production. Louisiana Economic Development estimated the expansion would create 300 new direct jobs.
Cleantech startup LOCOAL has raised nearly $8.68 million to date, according to PitchBook. The company is building a machine that converts wood waste into energy while capturing carbon.
The Prize Foundation has operated Startup Prize programming for more than a decade, launching its health-focused competition in 2020. Supported by Louisiana Economic Development, Louisiana Innovation and the National Science Foundation (NSF) FUEL Engine, the first annual energy competition featured 33 companies from 14 states, according to Biz New Orleans.
Four additional finalists presented alongside the winners, all from outside Louisiana: Arculus Solutions from Virginia, LNK Energies from Massachusetts, Element16 from California and Innowind Energy Solutions from Canada.
Neither NovaSpark nor LOCOAL immediately responded to Technical.ly’s request for comment.
Beken Bio wins $1.25M NSF grant to advance cancer blood test
Early cancer detection startup Beken Bio, which expanded its operations to New Orleans earlier this year, has landed a $1.25 million grant from the National Science Foundation.
The Phase II SBIR project will support the development of a blood test designed to detect cancer earlier. With the funding, Beken Bio will test the technology in about 300 patients and explore whether it could eventually be used to detect other hard-to-detect cancers.
The Tulane Ventures portfolio company is originally based in San Diego but has strong ties to New Orleans. Cofounder Chris Millan earned his bachelor’s degree from Tulane University.
Beken Bio’s lab at the New Orleans BioInnovation Center is being developed into a facility certified for clinical testing, with an eye toward eventual commercialization.
“For me personally, bringing this work to New Orleans, the city where I grew up, makes this milestone especially meaningful,” Millan said at the time of the new lab announcement. “The collaborative ecosystem here is exactly what we need to continue building and growing.”
Beken Bio did not immediately respond to Technical.ly’s request for comment.
Black Bayou plans new gas infrastructure in $1.6B expansion
Black Bayou Energy Hub is investing $1.6 billion to expand its Louisiana operations.
The investment includes an expansion of its Lafayette headquarters and new natural gas infrastructure in Cameron Parish, aimed at advancing the company’s gas storage technology.
Construction on the new site is expected to begin in Q4 2026.
Black Bayou did not immediately provide comment, but stay tuned, we’re working on a story.
More money moves:
- The National Institute of Standards and Technology granted the Louisiana Department of Economic Development $1.5 million as part of a $30 million initiative to help manufacturers adopt new tech.
- The venture capital firm targeting Tulane University alum 1834 Ventures announced that it’s more than 95% of the way to its $20 million fundraising target.
- Corridor Ventures invested early-stage VC into Atlanta-based Carbice, a semiconductor heat management startup. A few months later, the investment org also touted new funding from the Disney family.
- At least four new industrial development projects have received Fast Site clearance: $10 million for Judge Edward Dufresne Parkway through Esperanza Business Park in St. Charles Paris, $2 million for Gulf South Commerce Park in St. Tammany Parish, $1.4 million for McLeod Business Park in Lafourche Parish and $1.2 million for Franklinton Industrial Park in Washington Parish.
- Slidell-based IBEX won STartUP Northshore’s 2026 THE LAUNCHPAD pitch competition. The roofing safety company landed a $3,000 grant.
- The National Science Foundation awarded Tulane University a four year, $6 million contract as a part of its Accelerating Research Translation program to turn research into real-world products.
- The University of Louisiana at Lafayette will spend a $2.1 million award from the Louisiana Rural Health Transformation Program to improve rural healthcare services.
- Bernhar Capital Partners, a private equity firm in Baton Rouge, will buy Virginia engineering firm Bowman Consulting Group for roughly $43 per share.
