Venture X’s flexible coworking office space allows companies to establish their presence with everything from a virtual office to a full private office space where they can work without distraction and without the commitment or hassle of leasing an office and setting it up. Members at Venture X enjoy first-rate perks that any business owner or employee would appreciate including free coffee, access to business-class office equipment, fully-equipped meeting rooms, and much more. Businesses across many industries and at many stages of growth have found that they love working at Venture X. Richard Navarro, CEO and Chief Innovation Officer of Renewable Ocean Energy, Inc. works from Venture X Grapevine – DFW Airport North.
Richard was a first-place winner in the Fort Worth Business Plan Competition in 2016. We asked Richard some questions to get to know him a little better and learn about the journey he’s been on, career-wise.
What made you want to get involved in this line of work?
I have always had a passion for nature and natural solutions to problems. Since I grew up on a farm, I learned to innovate, to nurture the Earth, and find solutions in harmony with nature. I have 14 inventions, 4 patents and 1 patent pending and have spent much of the last 14 years working to develop a low-cost source of renewable energy that will operate 24 hours a day, be scalable to meet consumer demand and do no harm to the environment. I authored the book, “Resurrection of the Blue Planet” to help individuals reduce their carbon footprint while saving money and becoming healthier.
My group has succeeded in developing two hydroelectric platforms using our patented technology. Our Titan Turbine System produces electricity at dams considered too short to be economically feasible for commercial applications. There are over 88,000 such dams in the US. Our Poseidon Hydroelectric System produces electricity on any body of water – pond, lake, or ocean – without a dam, without harm to the environment, at a projected cost of less than 2 cents a kilowatt. It opens the door to producing electricity on 70% of the Earth’s surface without harm to the environment. Poseidon can be modularized and configured on the shoreline for easy connection to the grid or on a ship for easy transport and fast installation anywhere in the world. Modularization reduces construction and operational costs, allows for a relatively fast install (our Emergency Module is projected to be transported, installed, and producing electricity in less than 48 hours). Our system was constructed in our lab in Irving and was demonstrated to a group of more than 40 business leaders and engineers in 2016 from Grapevine and North Texas.
What has been the most rewarding aspect of your job?
The feeling that I am contributing to solving a real problem for millions of people. About 1 billion people around the world do not have any access to electricity and the benefits it can provide for heating, cooling, pumping water, etc. We are getting inquiries from around the world.
What’s the biggest challenge that you have faced in business and how did you overcome it?
The biggest challenge is connecting with the right investor group that shares our vision of doing good and making money. We are seeking equity or angel capital to bring our systems to the marketplace. We have a major hurdle to overcome and that takes more capital. I continue to work every day to overcome this hurdle.
What business tips would you like to share with others?
NEVER GIVE UP! Build a plan, work that plan, adjust it as needed to meet new circumstances. Don’t be afraid to ask for help. No one knows everything so invite others to share their wealth of knowledge.
What has been your favorite part about working at Venture X?
The virus issue has been a real challenge since I just returned to Grapevine in March 2020 and the management has been excellent in helping me get re-established in my chosen hometown.
A Personal Look at Richard Navarro
Richard earned his B.Sc. and M.A. from Western Michigan University and his Ph.D. from Vanderbilt University School of Medicine so it’s clear that he is a driven individual who knows the value of hard work. He shared that his great inspirations have been “Walt Disney who went bankrupt multiple times before succeeding like no one else and Albert Einstein who believes ‘imagination is everything!’ ” In his spare time, Richard enjoys exercising, spending time with family, exploring new ideas, reading, and inventing other devices. He shared that he is currently working on three other devices (1 patent pending) as he works to seek funding for the hydroelectric systems. We have no doubt his persistence will pay off and we’re eager to watch it happen within the walls of Venture X Grapevine – DFW Airport North.
If it’s time to reconsider how you approach your workday, we’re confident that a tour of the Venture X space closest to you will convince you. After all, there must be a reason why so many love to work here! Professional and upscale spaces combined with the perks and amenities at Venture X make it easy to get your job done. Book a tour of your local Venture X space today!