Innovative Houston plastics company scores $100M 'Green Loan' and prepares to scale

seeing green

Houston-based Circulus, which just received a $100 million credit facility, focuses on innovative plastics recycling. Photo via circulus.com

Fueled by a new $100 million credit facility, a Houston-based company that specializes in plastics recycling is establishing a nationwide network of recycling plants.

Circulus Holdings secured the $100 million credit facility from Riverstone Credit Partners, which has an office in Houston. This "green" loan is aimed at supporting environmental sustainability.

David Hudson, founder and CEO of Circulus, says in a news release that the credit facility "enables Circulus to rapidly develop a broad network of facilities and further the company's commitment to sustainable manufacturing. We look forward to supporting green-based jobs and preserving our environment for future generations."

Circulus, a portfolio company of Houston-based private equity firm Ara Partners, recently opened its first plastics recycling facility. The 110,000-square-foot plant is in Riverbank, California, near Modesto. It employs 45 people. So far, other Circulus plants, each of which will be larger than the California facility, are planned for Alabama, Oklahoma, the Midwest, and the Northeast.

Circulus is building plants that will transform lower-grade plastic into post-consumer resin so that it's suitable for commercial and industrial uses.

Circulus says it is diverting plastic from landfills, incinerators, and oceans and "upcycling" it into products, including plastic bags and plastic wrap. Customers for those products include retailers, resin producers, packaging manufacturers, and makers of consumer packaged goods. The company says greenhouse gas emissions associated with production of its post-consumer resin are about 88 percent below that of virgin resin.

"Through our significant investment in infrastructure and commitment to manufacturing excellence, we are supporting green job creation and reinforcing the nation's global position in sustainable manufacturing," Hudson says in a news release.

Before Circulus, Hudson was an operating partner at Ara Partners.

Founded in 2019, Circulus employs a dozen people in Houston and plans to add workers here as its network of facilities expands. Circulus is set up as a public benefit LLC, a for-profit business that promotes a social benefit for the public.

Ara Partners invests in decarbonization-focused businesses in the manufacturing, chemicals and materials, energy, and food and agriculture sectors. Aside from Circulus, portfolio companies include Houston-based Path Environmental Technology, which provides a decarbonization-oriented industrial services platform for above-ground storage tanks, and Arlington-based Priority Power Management, an energy services provider whose priorities include carbon neutrality and smart energy.

Circulus is breaking into a plastics recycling market whose global size in 2020 was estimated at $39.9 billion, according to Imarc Group, a market research company. The firm projects the market will grow to $56.5 billion by 2026.

"The demand for plastic material has been constantly increasing across several industries like food and beverage, automotive, packaging, and healthcare. The development of these industries can be accredited to rising population, inflating disposable incomes, and continuous product innovations," Imarc Group says. "In this context, higher manufacturing cost of virgin resins has necessitated the use of recycled plastic products, thereby bolstering the growth of the global recycled plastics market."

Verified Market Research estimates the global market for post-consumer recycled plastics at nearly $15.2 billion in 2020 and forecasts it will rise to almost $22.4 billion by 2028.

"The products produced from these plastics close the loop by diverting them from landfills and enabling them to be recycled," Verified Market Research says. "The advantages of employing post-consumer plastics also assist in addressing … microplastics in the environment. Microplastics are originated from plastic waste that has been deposited into the environment."

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New Austin tower eclipses Houston landmark as Texas' tallest building

Tallest in Texas

Texas officially has a new tallest tower. The title moves from Houston, for the JPMorgan Chase Tower, to Austin, for Waterline at 98 Red River St. The new tower will contain mixed-use spaces including apartments, offices, a hotel, restaurants, and retail. It is scheduled to open in full in 2026.

Waterline held a "topping out" ceremony in August, when the final beam was added to the top of the tower. It now reaches 74 stories and 1,025 feet — just 23 feet taller than the JPMorgan Chase Tower.

Waterline is now the tallest building in Texas.Graphic courtesy of Lincoln Property Company

According to a press release, hundreds of construction workers and team project members attended the Waterline ceremony, and more than 4,750 people have worked on it since the project broke ground in 2022. An estimated 875 people were working onsite every day at the busiest time for construction.

The Waterline site is on a 3.3-acre campus with lots of views of Waller Creek and Lady Bird Lake. The building contains space for 352 luxury apartments, 700,000 square feet of offices, a hotel called 1 Hotel Austin with 251 rooms, and 24,000 square feet of retail stores and restaurants.

The only space that is open to new tenants already is the office space, with residential soon to follow. The hotel and residential units are expected to open in fall 2026.

A view from above, shot by drone.Photo courtesy of Lincoln Property Company and Kairoi Residential

“Seamlessly integrated with Waller Creek, Waterloo Greenway and the hike-and-bike trail around Lady Bird Lake, Waterline will quickly become a top downtown destination and activity center," said Lincoln executive vice president Seth Johnston in a press release. Project improvements will also make it far easier for people to access all of the public amenities in this area from Rainey Street, the new Austin Convention Center, and the rest of the Central Business District."

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This article originally appeared on CultureMap.com.

Houston company awarded $2.5B NASA contract to support astronaut health and space missions

space health

Houston-based technology and energy solution company KBR has been awarded a $2.5 billion NASA contract to support astronaut health and reduce risks during spaceflight missions.

Under the terms of the Human Health and Performance Contract 2, KBR will provide support services for several programs, including the Human Research Program, International Space Station Program, Commercial Crew Program, Artemis campaign and others. This will include ensuring crew health, safety, and performance; occupational health services and risk mitigation research for future flights.

“This contract reinforces KBR’s leadership in human spaceflight operations and highlights our expertise in supporting NASA’s vision for space exploration,” Mark Kavanaugh, KBR president of defense, intel and space, said in a news release.

The five-year contract will begin Nov. 1 with possible extension option periods that could last through 2035. The total estimated value of the base period plus the optional periods is $3.6 billion, and the majority of the work will be done at NASA’s Johnson Space Center.

“We’re proud to support NASA’s critical work on long-duration space travel, including the Artemis missions, while contributing to solutions that will help humans live and thrive beyond Earth,” Kavanaugh adde in the news release.

Recently, KBR and Axiom Space completed three successful crewed underwater tests of the Axiom Extravehicular Mobility Unit (AxEMU) at NASA's Neutral Buoyancy Laboratory (NBL) at Johnson Space Center. The tests were part of an effort to help both companies work to support NASA's return to the Moon, according to a release.

KBR also landed at No. 3 in a list of Texas businesses on Time and Statista’s new ranking of the country’s best midsize companies.

UH receives $1M grant to advance research on rare pediatric disorder

peds research

The University of Houston has received a two-year, $1.1 million gift from the Cynthia and George Mitchell Foundation to advance research on a rare genetic disorder that can lead to both deafness and blindness in children, known as Usher Syndrome.

The current grant will support the research of UH biomedical engineering professors Muna Naash and Muayyad Al-Ubaidi, who work in the Laboratory for Retinal Molecular and Cellular Biology and Gene Therapy in the Cullen College of Engineering. The professors have published their findings in the journal Nature Communications.

Naash and Al-Ubaidi’s research focuses on mutations in the USH2A gene, which is crucial to the development and maintenance of the inner ear and retina. The work was inspired by a chance meeting that changed Naash’s life.

“Our work began more than two decades ago when I met a young boy who had lost his both his vision and hearing, and it made me realize just how precious those two senses are, and it truly touched my heart,” Naash said in a news release from UH. “Thanks to the generosity of the Cynthia and George Mitchell Foundation, we can now take the next critical steps in our research and bring hope to families affected by this challenging condition.”

The grant from the foundation comes in addition to a previous $1.6 million award from the National Eye Institute in 2023, which helped create a research platform for innovative gene therapy approaches for the condition.

Usher Syndrome affects 25,000 people in the U.S. and is the most common genetic condition worldwide that impacts both hearing and vision in children. Currently, there is no cure for any of the main three types of the condition. UH believes support from the Cynthia and George Mitchell Foundation will help elevate research, advance real-world solutions in health and improve lives.

“What makes UH such a powerful hub for research is not just its own resources, but also its location and strategic partnerships, including those with the Texas Medical Center,” Al-Ubaidi said in a news release. “We have access to an extraordinary network, and that kind of collaborative environment is essential when tackling complex diseases like Usher syndrome, where no single lab can do it alone.”

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