Houston researchers are commercializing their organ 3D printing technology. Jordan Miller/Rice University

There may come a time when you or someone you love is in need of a new pair of lungs. Or perhaps it's a liver. It's not a scenario anyone dreams of, but thanks to Houston company Volumetric, you may never end up on a waiting list. Instead, that organ is made to order and 3D printed using a mix of medical plastics and human cells.

And this possibility isn't necessarily in the distant future. On the cover of the May 3 issue of the journal Science, is a contraption that looks a bit like a futuristic beehive. It's a working air sac complete with blood vessels, the beginnings of a technology that is perhaps only a decade from being implanted in humans. And it was crafted on a 3D printer in Jordan Miller's lab at Rice University.

Yes, there are shades of another Houston story — Denton Cooley's implantation of the first artificial heart — but Cooley only inserted the organ. Miller and his bioengineering graduate student Bagrat Grigoryan are primed to profit from their inventions.

In 2018, they started Volumetric Inc., a company that sells both the hydrogel solutions used for printing organs like theirs and the printers themselves. Touring Miller's lab in the Houston Medical Center is a visual timeline of his team's progress designing printers. The version being manufactured is a slick little number, small enough to fit under chemical exhaust hoods, but fitted with everything necessary to print living tissues. It's made and sold in cooperation with CellInk, a larger bioprinting company.

"Our technology is based on projection," Miller explains. Specifically, it's stereolithography, a type of 3D printing that produces the finished product layer-by-layer. Shining colored light of the right intensity turns the polymers into a solid gel.

But why start a company when Miller and Grigoryan are already busy with research?

"If we want to do translational research, commercialization is important," reasons Miller. "We need to build the market to get that technology into the world."

Miller explains that usually the inventor of a technology is the best one to bring it to market.

"When we were building this technology in the lab we saw the potential for commercialization," he recalls. "We do see that this technology is highly scalable. We do think it can have a positive impact on tissue models in a lab."

Those tissue models could one day make not just scientists, but also animal rights activists, very happy. With the technology that Volumetric is developing, scientists could eventually print human cells so well that animal models would be far less accurate in predicting the success that the product being tested would have on humans.

As academics, though, Miller and Grigoryan weren't sure how to start a company. Fortunately, there is the National Science Foundation (NSF) and its I-Corps program. The pair spent a couple of weeks doing a regional program that taught scientists how to commercialize their technology.

"They want to see funded research get out of the lab," Miller says, explaining that they moved on to the national I-Corps program while Miller was on sabbatical from teaching at Rice, allowing them to interview potential customers.

This gave them the confidence to launch last year. Grigoryan now works full-time at the Med Center incubator and accelerator, Johnson & Johnson's JLabs. He has a team of two other scientists on staff.

"It would have been a lot harder to get started if we didn't have a space like JLabs available," Miller says. It also helps, he adds, that JLabs takes no equity, only helping the fledgling brand to finalize its market and get hooked in with potential investors.

Volumetric has its demo units ready to go and expects to start shipping printers in late June, pending final certifications.

"We believe we have technology to make organ replacements for people," Miller says.

And someday soon, long waits for a new set of lungs and a life of antirejection drugs could be a thing of the past.


Rice University bioengineers (from left) Bagrat Grigoryan, Jordan Miller and Daniel Sazer and collaborators created a breakthrough bioprinting technique that could speed development of technology for 3D printing replacement organs and tissues. Photo by Jeff Fitlow/Rice University

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8+ can't-miss Houston business and innovation events in April

where to be

Editor’s note: Houston's weeklong innovation festival kicks off April, followed by Rice University's globally recognized pitch competition returning for its 26th year. Plus, find coworking pop-ups, industry meetups, pitch battles and even a crawfish boil on the calendar. Here’s what not to miss and how to register. Please note: this article might be updated to add more events.

March 30-April 4 — H-Town Roundup

Celebrate innovation, entrepreneurship and collaboration at Houston Exponential's sixth-annual H-Town Roundup. During the free event series, previously known as Houston Tech Rodeo, attendees can expect insightful talks, workshops and networking events at venues across the city.

This event began March 30. Register here.

April 2 — Industrious Coworking Day

Enjoy a complimentary day of cowering at Industrious and network with professionals at the Ion. Breakfast, snacks, wifi and workspace tours are included. Following the cowering day, Industrious will host happy hour at Second Draught from 4-6 p.m.

This event is Thursday, April 2, from 8:30 a.m.-5 p.m. at the Ion. Register here.

April 2 — Technology Summit for Women

The fourth annual Women in Tech Cummil will feature speakers across three core tracks: Transformation + Digital strategy, Cyber + Risk + Resilience, and AI in Practice. Pearl Chu, director of technical domains and university relations at SLB, will give the opening remarks. Other panelists come from CenterPoint Energy, BP, Technip Energies and other leading companies.

This event is Thursday, April 2, from 2-5 p.m. at the Ion. Register here.

April 8 — Veterans Business Battle

Hear pitches from veterans and entrepreneurs as they compete for more than $10 million in investments at Rice Businesses' 12th annual Veterans Business Battle. This year, the two-day event will also feature a Small Business Expo, which invites Houston-based, veteran-owned businesses to participate in education, networking and the opportunity to showcase their business. Moonshots Capital and Mercury Fund will also host a fireside chat.

This event begins Wednesday, April 8, at 11 a.m. at the Ion. Click here to register.

April 9-11 — Rice Business Plan Competition

The Rice Alliance for Technology and Entrepreneurship will host the 26th annual Rice Business Plan Competition this month. Forty-two student-led teams from around the world, including one team from Rice, will present their plans before more than 300 angel, venture capital, and corporate investors to compete for more than $1 million in prizes.

This event begins Thursday, April 9. Find more information here.

April 10 — BioHouston Chili Cookoff

Connect with Houston's life sciences community at BioHouston's 21st annual chili cookout. This event is geared toward startup founders, researchers and industry veterans alike.

This event is Friday, April 10, from noon-4 p.m. at Bayou City Event Center. Register here.

April 14 — Mercury Fund Day at the Ion: Agentic Commerce

Don’t miss the latest installment of Mercury Fund Day at the Ion, previously known as Software Day. The recurring monthly event features office hours (by application), a keynote and networking opportunities. This month's topic focuses on agentic commerce.

This event is Tuesday, April 14, from 3:30-7 p.m. at the Ion. Register here.

April 19 – UH Energy Industry Crawfish Boil

Head to the UH Cullen College of Engineering Green Space for the 35th annual UH Energy Industry Crawfish Boil. The event will include a student showcase, STEM activities, a kids zone, live music, networking and, of course, crawfish. Proceeds from the event will support the multidisciplinary capstone fund that aims to increase professional readiness for Cullen College engineering and technology students.

This event is Sunday, April 19, from 1-5 p.m. at the Cullen College of Engineering Green Space. Find more information here.

April 24 — Rice Business Healthcare Conference

Leading experts, innovators and the next generation of healthcare leaders will converge at the Rice Business Healthcare Conference. Hosted by the Rice Business Healthcare Association, the conference will explore AI's potential impact on the sector.

This event is Friday, April 24, from 8 a.m.-2 p.m. at McNair Hall on Rice University's campus. Find more information here.

Houston unicorn closes $421M to fuel first phase of flagship energy project

Heating Up

Houston geothermal unicorn Fervo Energy has closed $421 million in non-recourse debt financing for the first phase of its flagship Cape Station project in Beaver County, Utah.

Fervo believes Cape Station can meet the needs of surging power demand from data centers, domestic manufacturing and an energy market aiming to use clean and reliable power. According to the company, Cape Station will begin delivering its first power to the grid this year and is expected to reach approximately 100 megwatts of operating capacity by early 2027. Fervo added that it plans to scale to 500 megawatts.

The $421 million financing package includes a $309 million construction-to-term loan, a $61 million tax credit bridge loan, and a $51 million letter of credit facility. The facilities will fund the remaining construction costs for the first phase of Cape Station, and will also support the project’s counterparty credit support requirements.

Coordinating lead arrangers include Barclays, BBVA, HSBC, MUFG, RBC and Société Générale, with additional participation from Bank of America, J.P. Morgan and Sumitomo Mitsui Trust Bank, Limited, New York Branch.

“As demand for firm, clean, affordable power accelerates, EGS (Enhanced Geothermal Systems) is set to become a core energy asset class for infrastructure lenders,” Sean Pollock, managing director, project Finance at RBC Capital Markets, said in a news release. “Fervo is pioneering this step change with Cape Station, a vital contribution to American energy security that RBC is proud to support.”

The oversubscribed financing marks Cape Station’s shift from early-stage and bridge funding to a long-term, non-recourse capital structure, according to the news release.

“Non-recourse financing has historically been considered out of reach for first-of-a-kind projects,” David Ulrey, CFO of Fervo Energy, said in a news release. “Cape Station disrupts that narrative. With proven oil and gas technology paired with AI-enabled drilling and exploration, robust commercial offtake, operational consistency, and an unrelenting focus on health and safety, we have shown that EGS is a highly bankable asset class.”

Fervo continues to be one of the top-funded startups in the Houston area. The company has raised about $1.5 billion prior to the latest $421 million. It also closed a $462 million Series E in December.

According to Axios Pro, Fervo filed for an IPO that would value the company between $2 billion and $3 billion in January.

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This article first appeared on EnergyCapitalHTX.com.

Houston food giant Sysco to acquire competitor in $29 billion deal

Mergers & Acquisitions

Sysco, the nation's largest food distributor, will acquire supplier Restaurant Depot in a deal worth more than $29 billion.

The acquisition would create a closer link between Sysco and its customers that right now turn to Restaurant Depot for supplies needed quickly in an industry segment known as “cash-and-carry wholesale.”

Sysco, based in Houston, serves more than 700,000 restaurants, hospitals, schools, and hotels, supplying them with everything from butter and eggs to napkins. Those goods are typically acquired ahead of time based on how much traffic that restaurants typically see.

Restaurant Depot offers memberships to mom-and-pop restaurants and other businesses, giving them access to warehouses stocked with supplies for when they run short of what they've purchased from suppliers like Sysco.

It is a fast growing and high-margin segment that will likely mean thousands of restaurants will rely increasingly on Sysco for day-to-day needs.

Restaurant Depot shareholders will receive $21.6 billion in cash and 91.5 million Sysco shares. Based on Sysco’s closing share price of $81.80 as of March 27, 2026, the deal has an enterprise value of about $29.1 billion.

Restaurant Depot was founded in Brooklyn in 1976. The family-run business then known as Jetro Restaurant Depot, has become the nation's largest cash-and-carry wholesaler.

The boards of both companies have approved the acquisition, but it would still need regulatory approval.

Shares of Sysco Corp. tumbled 13% Monday to $71.26, an initial decline some industry analysts expected given the cost of the deal.