Houston energy giant Shell lists local headquarters for sale for $325M

On the Market

Shell's Woodcreek campus is on the market. Photo courtesy HOK

Energy giant Shell has put its U.S. headquarters in Houston’s Energy Corridor on the market and is exploring the sale of its U.S. chemical business.

Green Street News reported Shell just listed its longtime Energy Corridor campus at 150 N. Dairy Ashford Road. The asking price is $325 million, The Real Deal reported. Shell plans to lease back half of the nearly 1.5 million-square-foot Woodcreek campus for 15 years.

A sale-leaseback deal could transform the 43.6-acre campus into a multitenant hub, CoStar News reported.

“Houston is a critical hub for Shell globally and the headquarters of our U.S. businesses,” a Shell spokesperson told the Houston Business Journal. “We remain committed to Houston and are evaluating opportunities to optimize our Woodcreek campus as part of our ongoing review of workplace needs while maintaining a strong presence in the city.”

Shell occupied its first building at the West Houston campus in 1980. The company employs more than 6,000 people in Texas.

Shell is one of the highest-profile businesses occupying space in the Energy Corridor. It’s home to 67,000 workers, more than 27 million square feet of office and mixed-use space, and 3.8 million square feet of retail and restaurant space.

Shell considers $8B sale of chemical business
As the company seeks to unload its Woodcreek campus, The Financial Times reported Shell is looking into selling its U.S. chemical business. The price tag: $8 billion.

Potential buyers include Spring-based ExxonMobil and Houston-based LyondellBasell.

Shell operates four chemical plants in Texas, Louisiana and Pennsylvania, producing an array of chemicals for use in plastics, detergents and pharmaceuticals.

Shell CEO Wael Sawan said last year that the company had spent $45 billion in capital “that is underperforming for us,” split between its chemical business and renewable energy arm.

Shell also agreed to sell its solar and wind power business in India this summer. Read more here.

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This article originally appeared on EnergyCapitalHTX.com.

TMEIC Corporation Americas has moved its U.S. headquarters to Houston. Photo via tmeic.com

Japanese energy tech manufacturer moves U.S. headquarters to Houston

HQ HOU

TMEIC Corporation Americas has officially relocated its headquarters from Roanoke, Virginia, to Houston.

TMEIC Corporation Americas, a group company of Japan-based TMEIC Corporation Japan, recently inaugurated its new space in the Energy Corridor, according to a news release. The new HQ occupies the 10th floor at 1080 Eldridge Parkway, according to ConnectCRE. The company first announced the move last summer.

TMEIC Corporation Americas specializes in photovoltaic inverters and energy storage systems. It employs approximately 500 people in the Houston area, and has plans to grow its workforce in the city in the coming year as part of its overall U.S. expansion.

"We are thrilled to be part of the vibrant Greater Houston community and look forward to expanding our business in North America's energy hub," Manmeet S. Bhatia, president and CEO of TMEIC Corporation Americas, said in the release.

The TMEIC group will maintain its office in Roanoke, which will focus on advanced automation systems, large AC motors and variable frequency drive systems for the industrial sector, according to the release.

TMEIC Corporation Americas also began operations at its new 144,000-square-foot, state-of-the-art facility in Brookshire, which is dedicated to manufacturing utility-scale PV inverters, earlier this year. The company also broke ground on its 267,000-square-foot manufacturing facility—its third in the U.S. and 13th globally—this spring, also in Waller County. It's scheduled for completion in May 2026.

"With the global momentum toward decarbonization, electrification, and domestic manufacturing resurgence, we are well-positioned for continued growth," Bhatia added in the release. "Together, we will continue to drive industry and uphold our legacy as a global leader in energy and industrial solutions."

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This article originally appeared on EnergyCapitalHTX.com.

Healgen Scientific opened its new headquarters in Houston last week. Photo courtesy of Healgen

Global diagnostics manufacturer opens new Houston facility, headquarters

moving in

A global health care company has cut the ribbon on its new facility and headquarters in Houston.

Healgen Scientific, which manufacturers diagnostic products for infectious diseases, toxicology, oncology, and more, opened the facility last week. Operating as the company's new headquarters, the location is the first manufacturing facility in Houston for Healgen. The company currently has around 120 employees in the U.S. and is expected to create over 200 new jobs in the next three years

“This new facility in Houston uses very innovative technology that will precisely diagnose viruses or diseases so people can be confident in the results they are receiving,” Bingliang Fang, CEO of Healgen Scientific, says in a release. “Here, Healgen is able to produce quality tests on a very large scale—nearly a half million per day. We are proud to provide made in the USA products with a commitment to using local materials, employing local residents and being an integral part of the community.”

Amid the COVID-19 pandemic, Healgen Scientific teamed up with Siemens Healthcare Diagnostics Inc. on a Rapid COVID-19 Antigen Self-Test. Today, over 2 billion Rapid COVID-19 Antigen Self-Test Kits have been used worldwide.

With 325 automated production lines around the world, Healgen's facilities have a daily production capacity of more than 22 million health care tests. Recently, the company moved 15 of these production lines to the U.S., investing over $100 million in three large-scale manufacturing and warehouse facilities in New York, New Jersey, and Texas. The facility in Houston will also produce RSV tests later in the year.

“We welcome you to our great city,” says Chris Hollins, city controller, City of Houston Controller’s Office. “This is a city, and a state, of business and of commerce. We’re excited that hundreds of jobs are on the way because of the investment of Healgen and the Fang family, and we’re grateful for your presence. On behalf of more than 2 million Houstonians, we applaud Healgen Scientific LLC on bringing world-class innovation and disease management to the United States.”

Healgen cut the ribbon on its newest facility last week. Photo courtesy of Healgen

Elon Musk announced that both SpaceX and X will relocate headquarters to two Texas cities. Photo via Getty Images

Elon Musk says he's moving SpaceX, X headquarters from California to Texas

cha-cha-changes

Billionaire Elon Musk says he's moving the headquarters of SpaceX and social media company X to Texas from California.

Musk posted on X Tuesday that he plans on moving SpaceX from Hawthorne, California, to the company's rocket launch site dubbed Starbase in Texas. X will move to Austin from San Francisco.

He called a new law signed Monday by California Gov. Gavin Newsom that bars school districts from requiring staff to notify parents of their child’s gender identification change the “final straw.”

“I did make it clear to Governor Newsom about a year ago that laws of this nature would force families and companies to leave California to protect their children,” Musk wrote.

Tesla, where Musk is CEO, moved its corporate headquarters to Austin from Palo Alto, California in 2021.

Musk has also said that he has moved his residence from California to Texas, where there is no state personal income tax.

SpaceX builds and launches its massive Starship rockets from the southern tip of Texas at Boca Chica Beach, near the Mexican border at a site called Starbase. The company’s smaller Falcon 9 rockets take off from Cape Canaveral, Florida, and Southern California.

It’s just below South Padre Island, and about 20 miles from Brownsville.

Omair Tariq of Cart.com joins the Houston Innovators Podcast to share his confidence in Houston as the right place to scale his unicorn. Photo via Cart.com

Houston innovator bets on Bayou City to scale fast-growing unicorn tech co.

HOUSTON INNOVATORS PODCAST EPISODE 223

Last November, Houston-founded logistics tech company Cart.com announced that it would be returning its headquarters to Houston after spending the last two years growing in Austin. But Co-Founder and CEO Omair Tariq says that while the corporate address may have changed, he actually never left.

"I've been in Houston now forever — and I don't think I'm planning on leaving anytime soon. I love Houston — this city has given me everything I have," Tariq says on the Houston Innovators Podcast. "I even love the traffic and everything people hate about Houston."

Tariq, who was born in Pakistan and grew up in Dubai before relocating as a teen to Houston, shared his entrepreneurial journey on the show, which included starting a jewelry business and being an early employee at Blinds.com before it was acquired in 2014 by Home Depot.

"For me to build something here was always a priority," Tariq says. He founded Cart.com in 2020.

He explains that the initial HQ relocation to Austin in 2021 was more of a co-location between the two Texas cities that was motivated by an increase in Austin activity for investors and potential customers for Cart.com.

"Austin was doing a really good job of branding itself as being the city in Texas to come to when you think about innovation or technology," Tariq says. "What we learned was that as we were building our own brand of being a technology company and being a company that wanted to gain global and at least national credibility, we thought that if we're closer to the action happening in Austin, we would get there faster."

Since the relocation, Cart.com raised a $60 million series C and grown its customer base to over 6,000 users. After making several acquisitions, the company also operates 14 fulfillment centers nationwide.

"I think Austin served its purpose. It certainly allowed us to be in the limelight in all the right ways, and I'm grateful for it," Tariq says. "But once we got to a point, once we closed our series C round and became a unicorn ... I think we're now at a scale where the infrastructure that Houston provides is probably something that will be more attractive and useful for us in the long term."

And Tariq adds on the show that he feels confident that he knows Houston well, and knows it is the right place to continue Cart.com's growth, which he says hopes includes 10 times the brands supported, a global footprint, and potentially an IPO.

Axiom Space's new Houston Spaceport facility is now open. Photo courtesy of Houston Airports

Space tech unicorn opens new 22-acre HQ in the Houston Spaceport

ribbon cutting

The Houston Spaceport has officially celebrated the opening of another facility from a fast-growing space tech company.

Axiom Space has opened its new Assembly Integration and Test Building, which will be the new headquarters for the Houston-based aerospace company at a new 22-acre campus at the Houston Spaceport at Ellington Airport in Southeast Houston. The building will include employee offices, facilities for astronaut training and mission control, testing labs and a high bay production facility to house Axiom Space Station modules currently under construction.

Axiom Space partnered with Jacobs, Turner Construction Company, Savills, and Griffin Partners to expand the company’s headquarters with the Houston spaceport building, which is the tenth spaceport in the nation.

For the first time in Houston’s history, the Space City is now home to the development of human-rated spacecraft with the Axiom Stations modules. Houston Spaceport has laboratory office space like technology incubator space and large-scale hardware production facilities, and is the world’s first urban commercial spaceport.

“These are historically exciting times for us all,” Houston Mayor Sylvester Turner says in a news release. “As the city that helped put men on the moon, Houston continues to lead the way in technology and innovation. Axiom Space has set itself apart from others in the private space industry. Our city – Space City — is leading this second space race. And the work being done in our city will return humanity to the moon in a sustainable way.”

Axiom operates end-to-end missions to the International Space Station. They are also developing its successor, Axiom Station, and building next-generation spacesuits for the moon, low-Earth orbit, and other missions. The company describes itself as “the leading provider of human spaceflight services and developer of human-rated space infrastructure.”

Axiom joins Collins Aerospace and Intuitive Machines as the three tenants of the Houston Spaceport, which is an FAA-licensed, urban commercial spaceport for the aerospace community. Intuitive Machines supports NASA’s $93 billion Artemis program, which aims to return astronauts to the moon by 2024 and eventually send humans to Mars.

“Today’s celebration is the culmination of teamwork and tenacity, and it underscores a year of historic milestones for Houston Airports,” Mario Diaz, director of Aviation for Houston Airports, says in a news release. “It’s not enough that we operate world-class airports, Houston Airports must also endeavor to progress humanity’s reach out into space. Axiom space solidifies this unique urban center for collaboration and ideation. A place where the brightest minds in the world work closely together to lead us beyond the next frontier of space exploration.”

The Houston Spaceport Development Corp. received $5 million from funds administered by the Governor's Office of Economic Development and Tourism. Axiom Space is valued at $1 billion as of earlier this year, according to Bloomberg. Axiom joins Intuitive Machines, which opened its new Houston Spaceport headquarters earlier this year.

Last week, Axiom Space cut the ribbon on the new facility. Photo courtesy of Houston Airports

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Rice University breaks ground on new innovation hub, The Arc

breaking ground

Construction is officially underway on Rice University's The Arc in Houston’s Ion District.

The university broke ground on the 200,000-square-foot research, corporate innovation and office building on Nov. 4. The facility will share a plaza with the existing Ion building, fostering collaboration within the innovation space, according to Rice.

“The Arc will bring Rice’s extraordinary research and talent and Houston’s impactful innovation ecosystem into even closer connection with the industries and innovators working to solve some of the world’s most consequential challenges,” Rice President Reginald DesRoches said in an announcement. “That constant exchange of ideas and expertise will help move discoveries more rapidly from the laboratory to real-world impact.”

Construction is scheduled to be completed by Q2 2028. Rice Real Estate Co. is developing the project, and Rice University will occupy about 80,000 square feet in the building (about 40 percent). Preleasing has begun, with floor plans ranging from 28,000 to 31,000 square feet.

The Arc will feature conference and meeting spaces, an amenity lounge, fitness center, outdoor plazas, underground parking, and on-site retail and dining, according to the release.

It aims to host tenants focused on artificial intelligence and machine learning, data science, robotics, quantum science and engineering and energy, including Rice's new AI Foundry.

Rice says the AI Foundry will be a space where university experts and partners can support organizations with AI challenges. Rice recently committed to hiring 75 new AI-focused faculty and announced plans to launch a new Master of Artificial Intelligence (MAI) next fall.

“The AI Foundry is exactly the kind of collaboration the Arc is designed to enable,” Amy Dittmar, the Howard R. Hughes Provost and executive vice president for academic affairs at Rice, added in the release. “By bringing Rice researchers together with industry partners in a shared environment, we can accelerate the movement of ideas from research into practical applications while helping organizations build the capabilities they need to succeed as AI continues to evolve.

Developers of The Arc are targeting LEED Gold certification by incorporating smart building automation and energy-saving features into the project's design. Rice first announced the project in September 2025.

Rendering courtesy Bogza

Houston battery tech startup FlowCellutions acquired by Katy energy co.

M&A

Katy-based TerraFlow Energy, an energy storage and infrastructure company, has acquired Houston-based battery technology startup FlowCellutions. Financial terms weren’t disclosed.

FlowCellutions still operates under its established name, but with the tagline “A TerraFlow Energy Company.” Becca Segel, founder and CEO of FlowCellutions, now runs the business as its president.

FlowCellutions specializes in electrochemical sensing, diagnostics, analytics, and testing that offer insights into battery chemistry, charging capabilities, and system performance.

“FlowCellutions has always been focused on developing better ways to understand what is happening inside a flow battery and using that information to improve how these systems perform,” Segal said in a press release. “Joining TerraFlow gives us the opportunity to apply that work at a much larger scale while continuing to build the capabilities and expertise that make FlowCellutions unique.”

The FlowCellutions platform supports data centers and other heavy users of power. It’s designed to help reduce operating costs, prevent failures and costly downtime, and extend battery lifetime from about seven years to more than 30 years.

Segel founded the company in 2022. A member of Greentown Labs, the company raised more than $2 million in non-dilutive funding and received $1.5 million in National Science Foundation funding earlier this year.

FlowCellutions is one of five finalists in the Energy Transition Business category of InnovationMap’s 2026 Houston Innovation Awards.

“FlowCellutions brings a depth of scientific and technical expertise that fits naturally with where TerraFlow is going,” Jon Parrella, CEO of TerraFlow, said in the release.

“As we move from developing these systems to deploying them at commercial scale, understanding performance at a deeper level matters,” he said. “Bringing FlowCellutions into TerraFlow strengthens that capability and gives both teams more opportunity to advance the technology.”TerraFlow, founded in 2024, develops long-duration energy storage and power infrastructure for data centers, industrial facilities, utilities and other large power consumers.

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This article originally appeared on EnergyCapitalHTX.com.

3 fast-growing Houston scaleups named Innovation Awards finalists

meet the finalists

From IPOs to groundbreakings, some of Houston's most innovative companies reached major milestones this year.

As part of the 2026 Houston Innovation Awards, our Scaleup of the Year category honors innovative later-stage startups that have recently reached a significant milestone in company growth. Three scaleups have been named finalists for the 2026 award.

Read more about these businesses, their founders and their breakthrough technologies below. The 2026 winners will be announced on InnovationMap.com in mid-November.

Erock

Energy infrastructure company Erock, previously known as Enchanted Rock, develops dual-purpose microgrids that rely on natural gas and renewable natural gas to produce lower carbon emissions and air pollutants than diesel generators. Its products can provide bridge power before grid interconnection, backup power during outages and dispatchable capacity that supports long-term grid reliability. The company has more than 1,100 megawatts of installed capacity and over 20 years of experience serving commercial, municipal and large-scale technology customers.

Erock completed its initial public offering this year, raising approximately $600 million in gross proceeds. It also grew its contracted power system sales backlog to approximately $1.7 billion, up tenfold year-over-year, with production sold out through 2028, according to the company's application. The company secured a major equipment order from Anthropic, began construction of the 366-megawatt El Paso Electric project supporting Meta's data center campus, and started assembly operations at its Hyperion facility in Cypress, Texas.

Hertha Metals

Hertha Metals produces lower-cost, lower-emission steel and high-purity iron. The company has developed a single-step process that uses natural gas as a direct reductant instead of metallurgical coal, which cuts production costs by more than 25 percent and emissions by up to 50 percent, according to the company. The same process produces high-purity iron needed for high-purity steels and rare earth magnets. The company says it aims to "re-industrialize America’s production of critical materials."

Hertha Metals was founded by CEO Laureen Meroueh in 2022 and emerged from stealth last year with more than $17 million in venture capital funding. The company closed a $133.65 million Series A this month and also broke ground on its $100M high-purity iron factory known as Chalyx in Conroe.

Venus Aerospace

Spacetech company Venus Aerospace is developing a high-thrust rotating detonation rocket engine (RDRE) that replaces the subsonic combustion used in conventional rocket engines. The RDRE is a compact, simpler engine that can deliver up to 15 percent greater efficiency for defense and space applications. It completed its first U.S. flight test of the engine last summer.

Venus Aerospace was founded in 2020 by CEO Cassie Duggleby and CTO Andrew Duggleby. It raised a $20 million Series A in 2022 and $42 million Series A2 in 2025. It closed a $91 million Series B earlier this year and expanded its leadership team. The company is working toward longer-duration and higher-thrust testing and advancing its flight program.

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