Texas high-speed bullet train has some fresh financial fuel. Photo of the N700 courtesy of © JR Central

Amtrak and its partners will receive more than $2.1 billion in a federal program to improve existing routes and expand Amtrak service across the U.S.

That includes $500,000 from the Federal Railroad Administration awarded to the long-in-the-works high-speed rail project between Houston and Dallas, as well as another $500,000 awarded to the I-20 Corridor Long-Distance Passenger Rail Project.

The funding is via the newly-passed Infrastructure Investment & Jobs Act and includes multiple grants that will go to Amtrak and partners. This includes:

  • $108.5 million to Amtrak for station and service upgrades;
  • $2 billion to Amtrak partners in North Carolina, Virginia, Pennsylvania, and Maine for infrastructure upgrades
  • $34.5 million to 39 states and localities for planning and development of 69 new and improved intercity passenger rail corridors

These grants were awarded through the Federal Railroad Administration’s Federal-State Partnership for Intercity Passenger Rail Program for projects located across the National Network, as well as the Corridor Identification and Development Program (Corridor ID).

FRA Administrator Amit Bose says in a statement that these will be "transformative rail projects" that will provide climate-friendly alternatives to congested roads and airports.

“Today’s investments in passenger rail nationwide, made possible by the President’s Bipartisan Infrastructure Law, are another step forward as we expand and modernize our country’s rail network, providing more Americans the world-class passenger rail they need and deserve," Bose says.

Amtrak was awarded funding on a variety of projects, including four Corridor programs, designed to create a pipeline of intercity passenger rail projects.

Those include:

  • Texas High-Speed Rail Corridor. This proposed corridor would connect Houston and Dallas, Texas, with a new, dedicated and grade separated high-speed passenger rail service. This would provide new service on a new alignment, with station stops in Dallas, Brazos Valley and Houston.
  • Long Island Northeast Regional Extension. This proposed corridor would extend three existing daily Northeast Regional round trips between Washington, DC and New York City east to Ronkonkoma, NY, with stops at Jamaica (Queens, NY) and Hicksville, NY. This would entail track, station and infrastructure upgrades to accommodate these trains and better integrate Amtrak service with Long Island Rail Road commuter service.
  • Daily Cardinal Service. This proposed corridor would increase Cardinal service to operate daily, versus three days per week currently. This route operates between New York City and Chicago via Philadelphia, Baltimore, Washington, DC, Virginia, West Virginia, Kentucky, Ohio and Indiana.
  • Daily Sunset Limited Service. This proposed corridor would increase Sunset Limited service to operate daily, versus three days per week currently. This route operates between Los Angeles and New Orleans via Houston, San Antonio and El Paso, Texas; Tucson, Ariz.; and other communities.

The release does not say exactly how the $500,000 will be used. According to TxDOT, the current estimate for construction of track between Houston and Dallas is approximately $16 billion.

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This article originally ran on CultureMap.

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Biosciences startup becomes Texas' first decacorn after latest funding

A Dallas-based biosciences startup whose backers include millionaire investors from Austin and Dallas has reached decacorn status — a valuation of at least $10 billion — after hauling in a series C funding round of $200 million, the company announced this month. Colossal Biosciences is reportedly the first Texas startup to rise to the decacorn level.

Colossal, which specializes in genetic engineering technology designed to bring back or protect various species, received the $200 million from TWG Global, an investment conglomerate led by billionaire investors Mark Walter and Thomas Tull. Walter is part owner of Major League Baseball’s Los Angeles Dodgers, and Tull is part owner of the NFL’s Pittsburgh Steelers.

Among the projects Colossal is tackling is the resurrection of three extinct animals — the dodo bird, Tasmanian tiger and woolly mammoth — through the use of DNA and genomics.

The latest round of funding values Colossal at $10.2 billion. Since launching in 2021, the startup has raised $435 million in venture capital.

In addition to Walter and Tull, Colossal’s investors include prominent video game developer Richard Garriott of Austin and private equity veteran Victor Vescov of Dallas. The two millionaires are known for their exploits as undersea explorers and tourist astronauts.

Aside from Colossal’s ties to Dallas and Austin, the startup has a Houston connection.

The company teamed up with Baylor College of Medicine researcher Paul Ling to develop a vaccine for elephant endotheliotropic herpesvirus (EEHV), the deadliest disease among young elephants. In partnership with the Houston Zoo, Ling’s lab at the Baylor College of Medicine has set up a research program that focuses on diagnosing and treating EEHV, and on coming up with a vaccine to protect elephants against the disease. Ling and the BCMe are members of the North American EEHV Advisory Group.

Colossal operates research labs Dallas, Boston and Melbourne, Australia.

“Colossal is the leading company working at the intersection of AI, computational biology, and genetic engineering for both de-extinction and species preservation,” Walter, CEO of TWG Globa, said in a news release. “Colossal has assembled a world-class team that has already driven, in a short period of time, significant technology innovations and impact in advancing conservation, which is a core value of TWG Global.”

Well-known genetics researcher George Church, co-founder of Colossal, calls the startup “a revolutionary genetics company making science fiction into science fact.”

“We are creating the technology to build de-extinction science and scale conservation biology,” he added, “particularly for endangered and at-risk species.”

Houston investment firm names tech exec as new partner

new hire

Houston tech executive Robert Kester has joined Houston-based Veriten, an energy-focused research, investment and strategy firm, as technology and innovation partner.

Kester most recently served as chief technology officer for emissions solutions at Honeywell Process Solutions, where he worked for five years. Honeywell International acquired Houston-based oil and gas technology company Rebellion Photonics, where Kester was co-founder and CEO, in 2019.

Honeywell Process Solutions shares offices in Houston with the global headquarters of Honeywell Performance Materials and Technologies. Honeywell, a Fortune 100 conglomerate, employs more than 850 people in Houston.

“We are thrilled to welcome Robert to the Veriten team,” founder and CEO Maynard Holt said in a statement, “and are confident that his technical expertise and skills will make a big contribution to Veriten’s partner and investor community. He will [oversee] every aspect of what we do, with the use case for AI in energy high on the 2025 priority list.”

Kester earned a doctoral degree in bioengineering from Rice University, a master’s degree in optical sciences from the University of Arizona and a bachelor’s degree in laser optical engineering technology from the Oregon Institute of Technology. He holds 25 patents and has more than 25 patents pending.

Veriten celebrated its third anniversary on January 10, the day that the hiring of Kester was announced. The startup launched with seven employees.

“With the addition of Dr. Kester, we are a 26-person team and are as enthusiastic as ever about improving the energy dialogue and researching the future paths for energy,” Holt added.

Kester spoke on the Houston Innovators Podcast in 2021. Listen here

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