Americans are expected to spend $97.1B on technology gifts this year — Houston expert shares financial advice for shoppers

Guest column

From online shopping to gifting devices, technology plays a huge role in the holidays, this Houston expert says. Getty Images

Like clockwork, the holidays are here again. Black Friday, Small Business Saturday, and Cyber Monday have all successfully come and gone, but yet, many of us are still left with presents to purchase and to-do lists to complete. Houstonians are expected to spend $1,562 this holiday season completing their holiday shopping. That is up three percent from last year.

While Houstonians expect to spend over $500 on gifts for loved ones, a whopping $606 will be spent on "experiences" and $421 on non-gift items such as clothing and home furnishings as they gear up for the holiday season with parties and houseguests.

What are Americans planning to buy this holiday season? Nationwide, 74 percent of Americans are expected to spend $97.1 billion on technology gifts this holiday season. According to a survey, the number one technology gift for this year is content-related gifts such as video games or streaming services. The days of buying discs or consulting the TV Guide are long gone. Americans are looking for ways to stream music, movies, and TV shows.

Other hot technology gadgets include smart speakers, smart phones, TVs, laptops, tablets, and wearables. Smart camera doorbells, which allow residents to see who is at their door, and smart lightbulbs, which enable lighting to be controlled remotely through the internet, continue to climb the gift-giving lists.

Technology is playing a significant role in how we make our purchases. Fifty-six percent of Americans are planning to buy their holiday items online, with only 36 percent obtaining gifts and other seasonal items in brick and mortar locations. Many of us are ordering gifts right from our smart phones.

All this spending on others, while thoughtful, is bound to get some of us in financial hot water. The key is to budget. Set a budget for each person you plan to shop for, such as family members, colleagues, friends, even for service providers such as your hairstylist. Once your budget is set, stick to it. I have found that using a spreadsheet to track expenses is helpful, or good old-fashioned pen and paper works well, too. You may be surprised how quickly your expenditures add up, even the small ones. Tracking is an excellent way to stay accountable to your budget.

Last year, the average consumer racked up over $1,000 in debt as part of their holiday shopping. By budgeting wisely, you can avoid debt. While credit cards are convenient, sometimes they make it a little too easy to spend more than planned. Not staying within your budget can give you quite a spending hangover in January. To combat credit card overuse, use cash whenever possible.

Additionally, limit your shopping days. The less you visit stores or malls, the less likely you are to be tempted. Moreover, purchasing online can help you stick to your budget, just be careful not to spend more than your budget allows. Another smart strategy to cut costs is to select items with free shipping over fast shipping.

With the holidays quickly approaching, ensure you are smart about your holiday spending. Technology is a fantastic and convenient avenue for shopping. And, our smart phones have provided us another avenue in which to compare prices and look for deals. Whichever channel you choose to shop — bricks and mortar or cybershopping — ensure you stick to smart spending.

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Dominic Cellitti is a financial adviser with the Wealth Management Division of Morgan Stanley in Houston.

It's National Retirement Security Week — and to celebrate, you need to start thinking about saving. Getty Images

Young professionals should focus on saving for retirement today, advises this Houston expert

Guest Column

National Retirement Security Week is upon us. In 2006, the United States Senate passed a resolution establishing the third week of October as a time to raise awareness about the importance of retirement savings and to encourage Americans to contribute to their retirement plans. The sponsors of the resolution hoped Americans would think about their retirement goals and assess their progress.

The Senate had good advice. Consider this: less than half of Americans have calculated how much money they will need to have in retirement. Additionally, the average person will spend a whopping 20 years in retirement. This data means you need to be proactive in your retirement planning, especially if you plan to retire early. Experts project that the average American will need 70 – 90 percent of their pre-retirement income to continue to live in their current standard of living. Even with well-funded savings, retirees will face challenges such as high costs of healthcare and the future of Medicare and Social Security.

For young investors

Research has shown that younger Americans, approximately ages 18 to 35, say the ideal time to retire is 60 years old. However, young professionals need to remember that the full retirement age for social security benefits is 67 years of age. Therefore, saving early in their career is key to attaining a livable retirement income.

Additionally, many young Americans are simply not saving for retirement at all. Data has demonstrated that two-thirds of Millennials have nothing saved. A rule of thumb is to continually save 10 to 15 percent of your income throughout your career for retirement. If you would like to retire at 60 years of age, you should be saving 20 percent or more.

First step: Start saving

Therefore, your first step should be starting to save today, and it should be a priority. By beginning to save as soon as possible, you benefit from the power of compound interest. Each year's investment gains build on the next year's gains. Ideally, you should begin saving for retirement in your early twenties at the beginning of your career. Saving early can reap big rewards later. However, if you are further along in your career and have not been saving, start now.

Many employers offer 401(k) plans, allowing employees to save for retirement before taxes are taken out of their paycheck. If your company offers a 401(k) plan, ensure you are enrolled and contributing at least enough to receive the maximum matching contribution. In 2019, the IRS allows you to contribute up to $19,000, and for those 50 and over, you may contribute $25,000. While 401(k)s have many benefits, there are some restrictions. For example, the plan may require you to leave the money in for a minimum amount of time before you are entitled to your employer's matching contributions. To ensure you understand your employer's plan, consult the plan administrator.

Not all employers offer retirement plans. If that is your case, or you are self-employed, look into an IRA. These accounts are another smart way to save for retirement. IRAs are controlled by you, not your employer. You can choose either a Roth IRA or a Traditional IRA. The difference between the two varies on issues such as age restrictions, income limits, and tax breaks. For an IRA in 2019, you may contribute $6,000 per person, or $7,000 for those 50 and over. Similar to 401(k)s, IRAs can be set up by automatic deduction if you so choose.

No matter your industry or the season of your life, take the time this National Retirement Security Week to educate yourself on your saving options, focus on your retirement goals, and begin the action steps necessary to be able to retire securely.

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Marcellus Davis is a financial adviser with the Wealth Management Division of Morgan Stanley in Houston.

September is self care awareness month, and there are ways to encourage wellness in the workplace — no matter the size of the company. Tom Merton/Getty Images

How you can encourage wellness in the workplace ahead of self care month

guest column

September is self-care awareness month. The purpose of the awareness campaign is to remind Americans that it is necessary to mindfully and purposefully care for yourself. Not only can individuals take steps toward self-care, but employers can play a role, too. Many employers are focusing on employee wellness, including financial wellness, realizing that when their workforce is happy and healthy, productivity rises, and their business grows.

Many innovative companies today offer wellness benefits, such as in-office yoga, massages, and acupuncture. Additionally, some companies encourage outside fitness by reimbursing gym memberships, organizing sports leagues, and coordinating classes at boutique studios.

While physical fitness is key to a healthy workforce, so is mental health. Employers have been known to provide meditation and napping rooms within the office, team trips, and flexible PTO. A wise employer will insist their employees use their PTO to refresh and decompress before returning to work with a new vigor. Several tech companies have even made confidential health assessments available and made gaining access to mental professionals easier.

As part of their wellness benefits offerings, companies should encourage financial wellness for their employees. One common contributor to our physical and mental stress is our finances. An American Psychological Association survey found that 62 percent of Americans count money as a stressor. Additionally, a Morgan Stanley study found that 78 percent of employees who report high financial stress say that their financial stress is a distraction at work.

Financial self-care involves assessing a person's financial situation and how their money is fitting into their life. As an employer, you can help your employees find the right balance in their financial life and provide them with the tools to help with their financial wellness.

Start with reviewing the retirement plan available to your employees. If you do not have a retirement plan instituted already, you will find that setting up a 401(k) is relatively easy and relatively low cost. Plus, it provides your employees with the power of saving for their retirement. This year, the IRS allows employees to contribute up to $19,000 in pre-tax dollars, $25,000 if they are 50 or over.

In addition to offering them a savings vehicle, consider providing 401(k) matching funds. For example, you may match 50 cents for every dollar they contribute. Even if an employee is not contributing to their retirement plan, an employer can still contribute money to their employees' retirement funds as a benefit of employment. Generally speaking, the limit on total employer and employee contributions for 2019 is $56,000, or 100 percent of employee compensation, whichever is lower. What better way to help your employees mind their financial self-care than to actively help them save for a secure future?

As an employer, you may go beyond retirement plans and offer other financial self-care benefits such as help with emergency savings, financial coaching, and student loan repayment. Currently, only four percent of employers offer student loan repayment programs, but that number is growing as a popular benefit for recruitment and retainment. Under this benefit, an employer may pay down a portion of the employee's student debt over a period of time. Of note, there is no tax benefit for a debt repayment benefit, and the money is taxed as income.

This September, take the time to assess the benefits you are offering to employees. Do not forget to include financial wellness as part of your overall plan, benefiting your employees and your business.

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Claudia Mollerup-Madsen is vice president and a financial adviser with the Wealth Management Division of Morgan Stanley in Houston.

First thing's first: Don't tell everyone. Jonathan Kitchen/Getty Images

What you need to know for when your startup hits the big time, according to this Houston expert

Money matters

If you have a successful tech startup, you may be working towards an exit plan where your vision and innovation is turned into liquidity. When a unique, innovative idea hits the big time, investors and other tech companies take notice, and some founders of startups discover themselves with sudden wealth.

Whether you take your company public or are eventually acquired by a much larger organization, you may find yourself looking at millions or billions of dollars one day. If this happens to you, there are crucial steps you should consider to help ensure you stay financially healthy for the long-term.

Keep your head down and do your homework.

First, be as quiet as possible about your new windfall. While selling your company may be public knowledge, keep conversations about your finances and situation minimal and confidential until you have a plan. The more hushed you keep your new financial situation, the less pressure you may have from others asking for favors and handouts.

Additionally, do your research before making any decisions. While you are coming to terms with your new wealth, search for the right team, including a financial adviser, attorney, and accountant, to help you set your goals, both long and short term. This may include tax efficiency and structure, such as trusts and family limited partnerships.

Research a potential advisers' philosophy, fees, and expertise. Have a background check run on anyone you hire, including their financial situation. Review your engagement letter and understand the small print. Be patient as you search for the right team — they are extremely important to your future.

Find an adviser you trust.

Part of your team should include a financial adviser who can be an invaluable resource during this time and into the future for many reasons.

First, he or she can help you identify potential present and future financial goals, plan for the next generation, and structure an income stream, which will ultimately help guide your money to survive you. You might find yourself in the unique position to make donations you have only dreamed of, and that, too, requires guidance.

A financial adviser can also help when friends and organizations are looking for financial contributions from you. Sudden wealth often leads to many changes which are hard to anticipate. Do not let your guard down. Family and friends can come out of the woodwork. Also, be aware of frivolous lawsuits and threats. Keep you and your family safe.

Don't go crazy.

Be disciplined in your spending. Some pro-athletes and lottery winners have filed for bankruptcy after blowing all of their wealth. Do not fall into this trap.

With the help of your financial adviser, you may decide to put your money where you cannot access it easily, such as a house or a 529 savings plan for your children's college. Or, you may decide to have your financial adviser help establish a salary for you each month so you can control your cash better.

After working hard to build a product or platform and the success of selling it for top dollar, ensure you are just as wise with your proceeds. Follow trusted advice from a well-vetted financial adviser and take your time to make major decisions. Trust your gut and enjoy the ride!

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Gail Stalarow is vice president and financial adviser with The Clarity Group in the Wealth Management Division of Morgan Stanley in Houston.

The Bayou City knows energy. Silicon Valley knows tech. But each can't only invest in what they know. Getty Images

Houston and Silicon Valley experts advise investing outside the box

Diversify or die

There's an adage in investing that you should only invest in what you know. Generally speaking, this is a good rule — if you do not understand a company product or have no experience with its industry, then investing in a specific company could be risky. Yet, there are times when it's necessary to get out of your comfort zone and try something new and adventurous. The challenge is determining how to do that.

We are financial advisors from Houston and San Francisco, and we frequently do just that — encourage our clients to explore investments out of their comfort zones.

In Houston, we understand energy. As of 2017, Texas accounted for 37 percent of the nation's crude oil production and 24 percent of its natural gas production. And as of January 2018, Texan oil refineries accounted for 31 percent of the nation's refining capacity — and that is just oil. In 2017, Texas lead the country in wind-generated electricity and generated a quarter of all wind power in the US. It is safe to say, we feel comfortable talking the language and investing in the energy industry. Whether it is machinery fabrication for upstream, construction of pipes for midstream, or refining downstream, some Texans are comfortable investing in these areas.

In San Francisco, we understand tech, whether it involves social media, silicon, or apps. We have five of the top 10 most prominent tech companies in the world. In 2018, the technology industry accounted for around 62 percent of all office leasing activity in San Francisco. The Bay Area also dominates venture capital investment, accounting for 45 percent of all capital investment in the U.S, in large part because of tech startups in the area.

Naturally, we see that some investors in our hometowns feel comfortable investing extensively in these two industries. Sometimes, these investments take the form of venture capital, other times they are individual stocks.

For Houstonians, allocating all of their investments to the energy industry carries too much risk should the energy industry falter. The same is true for San Francisco with venture capital and technology.

Therefore, we encourage investors to diversify their portfolios by placing funds in multiple vehicles and equities with the knowledge that different industries will react differently to market ups and downs. While there is never a guarantee of the outcome, diversification is one of many factors critical to long-term investment success.

For Houstonians and San Franciscans, there are other industries we understand in which we can invest. For example, Houston boasts the largest medical center in the world with roughly 361,000 people employed in the healthcare industry. While San Francisco employs roughly 277,500 in tourism. If you're looking to diversify your portfolio, look around to see the opportunities in which other people are investing. You may be surprised about what you learn, and ultimately how comfortable you can become investing in industries you may be unfamiliar.

We do not recommend ever investing in a product or industry that you have no understanding of at all. However, if you have excitement about an investment opportunity and feel there is potential for growth to your portfolio, your investment may prove fruitful in the future. Still, please seek out a financial advisor to help.

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Joseph Radzwill is senior vice president and financial adviser with the Wealth Management Division of Morgan Stanley in Houston. Victoria Bailey is a financial adviser with the Wealth Management Division of Morgan Stanley in San Francisco.

Think about the power of impact investing this Earth Day. Getty Images

Impact investing is shaping the future of the world, says this Houston expert

Earth day

For almost 50 years, Earth Day has been recognized as the largest civic-focused day of action in the world. Since April 22, 1970, Americans have sought out ways to be stewards of the environment through planting trees, riding a bike to work, or cleaning up a community garden. While these actions are admirable, other strategies and tools are also available that can have a positive impact on the environment.

Investors are getting behind companies that put environmental, social, and governance (ESG) factors as priorities in their operations. According to a 2018 survey by the Morgan Stanley Institute for Sustainable Investing and Morgan Stanley Investment Management, 84 percent of respondents are considering or currently pursuing ESG investing.

ESG policies may include issues such as safety policies, human rights, and climate change. These policies may not be part of the traditional financial analysis but can still have financial applications. Investors have the opportunity to financially support and affect change in companies that are taking the lead on ESG policies. This is impact investing. With impact investing, companies and individuals can shape the future with money that is already slated to be invested.

According to the Morgan Stanley survey mentioned above, more than $22.8 trillion is invested sustainably. As the impact investing movement continues to grow, we are seeing an increase in funds dedicated to social and environmental change. According to the 2018 survey, 77 percent of asset owners believe they have a responsibility to address sustainability through investing. And, 31 percent of the respondents said climate change is their leading focus.

If you are interested in incorporating impact investing into your portfolio, the first step is to choose your social and environmental investment criteria. In honor of Earth Day, you may be interested in focusing on green investing in industries or causes such as clean water and alternative energy. Or, you may be interested in investing in corporations that have made strides in environmental sustainability and clean technology.

Next, determine the best way for you to invest. Whether by debt, equity, or assets, impact investing can involve making the kinds of investment decisions that regular investors are generally making anyway, such as buying stocks and bonds in Fortune 500 companies or broadly diversified mutual funds. According to respondents in the Morgan Stanley survey, public equities and real assets, such as infrastructure and real estate, are the most attractive asset classes for sustainable investing.

A common concern with impact investing is whether investing with a strong focus on ESG will give investors a rate of return needed to meet their investment goals (i.e. retirement, college savings). According to a study by the Global Impact Investing Network, a nonprofit organization dedicated to helping break down barriers to impact investing, 82 percent of respondents said their investments made an impact and 76 percent were pleased with the financial performance. Additionally, another 15 percent reported outperformance across each of these dimensions.

As investors are pursuing ESG practices and investments, a large number of companies are continuing to incorporate measures such as water and energy conservation into their ESG policies. Corporate boards and investors are incentivizing their CEOs to provide high-quality, diverse workplaces that lead to greater employee satisfaction, retention, and productivity while having a social and environmental impact. Whether investing in organizations or corporations, impact investing provides a way for investors to tackle big problems with their money. This Earth Day, on Monday, April 22, you can identify investments that can help you achieve your financial goals as well as satisfying your desire to have an impact.

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Dominic Cellitti is a financial adviser with the wealth management division of Morgan Stanley in Houston.

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

where to be

Editor's note: Kick off 2026 by hearing insightful talks and making meaningful connections in Houston's innovation scene. From networking workshops to presentations from major industry leaders, here's what not to miss and how to register. Please note: this article may be updated to include additional event listings.

Jan. 13 – Financing the Future

Hear from James Blake, head of capital markets at Fervo Energy, in this informative talk. Blake will cover the current investment landscape for geothermal power, how geothermal projects are structured and the role of policy incentives and innovative financing models in moving the industry forward. A small reception follows.

This event is Tuesday, Jan. 13, from 5:30-7:30 p.m. at the Ion. Register here.

Jan. 13 – Your Path to the Boardroom

Visit Sesh Coworking to hear from Keith Dorsey, an executive advisor and author of The Boardroom Journey, as he shares insights and lessons from hundreds of corporate board members and presents an actionable roadmap for women at every stage of their careers. Dorsey will speak on what "optimal diversity” means in the boardroom, how purpose-driven leaders sustain resilience under relentless pressure and why inclusive leadership is non-negotiable for growth and innovation.

This event is Tuesday, Jan. 13, from 6-8 p.m. at Sesh Coworking. Register here.

Jan. 14 — A Conversation with Dr. Wayne J. Riley on Leading Through Healthcare Transformation

Rice Business Partners will host Dr. Wayne J. Riley, president of SUNY Downstate Health Sciences University, for a moderated discussion with Dean Peter Rodriguez. Riley will share insights on leading complex healthcare organizations in an era of unprecedented industry challenges and reflect on his time at the Jones Graduate School of Business.

This event is Wednesday, Jan. 14, from 6:30-8:30 p.m. at McNair Hall on Rice University's campus. Register here.

Jan. 14 — VDW: Igniting Connections for Startup Success

Entrepreneurial communications instructor Diana Massaro will lead Lilie's latest Venture Development Workshop, focused on soft skills like clear communication, active listening and compelling introductions. Attendees will gain a personalized networking game plan and communication tools to turn casual encounters into meaningful relationships to support their ventures or careers.

This event is Wednesday, Jan. 14, from 6-7:30 p.m. at the Liu Idea Lab for Innovation and Entrepreneurship on Rice University's campus. Register here.

Jan. 21 — Upstream: Digital Tech Meetup

This month's Upstream: Digital Tech Meetup will explore how AI and real-time monitoring are being applied in safety-critical offshore environments, what’s working today, where the biggest gaps remain going into 2026 and how operators and service companies are approaching adoption. Expect to hear from leaders at NOV, Incom Solutions, Timbergrove and others.

This event is Wednesday, Jan. 21, from 8:30-10:30 a.m. at the Ion. Find more information here.

Jan. 22 — HEAD AND HEART: Leading Technology with Humanity While Everything Changes

Hear from Chris Hyams, former CEO of Indeed, at the latest installment of Rice's Master of Engineering Management & Leadership Seminar Series. Hyams will present on the intersection of technology, humanity and change—and how AI is reshaping all three.

This event is Thursday, Jan. 22, at 6 p.m. at Duncan Hall on Rice University's campus. Find more information here.

Jan. 22 – NASA Tech Talk

This month's NASA Tech Talks will feature a special delegation from the UK Science and Technology Network. Expect to hear from a panel of UK space experts, followed by a fireside chat featuring David Alexander, head of the Rice Space Institute, and Meganne Christian, ESA reserve astronaut and senior exploration manager.

This event is Thursday, Jan. 22, from 6-7 p.m. at the Ion. Find more information here.

Jan. 29 – Ignition Hub Startup Career Fair

Lilie will host the Ignition Hub Startup Career Fair this month in partnership with Rice University’s Center for Career Development and Career Development Office. The fair will bring together some of the most innovative, high-growth companies to offer Rice students exciting opportunities. Startups can apply to be considered for the fair. The event is open to Rice University undergraduate, graduate, MBA, and PhD students.

This event is Thursday, Jan. 29, at Grand Hall on Rice University's campus. Find more information here.

Jan. 29 – Health Policy Symposium: Value-Based Care & the Health Care Workforce

The Humana Integrated Health Systems Science Institute at the University of Houston will host its latest Health Policy Symposium this month, focused on the evolving landscape of value-based care and the importance of preparing and strengthening the health care workforce. Hear keynote addresses from leaders at Humana, UH, the American Medical Association and Houston Health Department.

This event is Thursday, Jan. 29, from 11:30 a.m.-1:30 p.m. at the Tilman J. Fertitta Family College of Medicine on Rice University's campus. Find more information here.

Jan. 30 — GHP Annual Meeting

The Greater Houston Partnership's premier event will highlight the region’s progress, honor visionary leadership and set the tone for the year ahead. Hear reflections from outgoing board chair, Gretchen Watkins (former -president of Shell USA); welcome incoming board chair, Armando Perez (EVP of H-E-B Houston); and more

This event is Friday, Jan. 30, from 11:30 a.m.-1:30 p.m. at Hilton Americas. Find more information here.

CPRIT CEO: Houston’s $2B in funding is transforming cancer research and prevention

fighting cancer

With its plethora of prestigious health care organizations like the University of Texas MD Anderson Cancer Center, UTHealth Houston, and the Baylor College of Medicine, Houston sits at the heart of cancer research and prevention in Texas.

Of course, it takes piles of cash to support Houston’s status as the state’s hub for cancer research and prevention. Much of that money comes from the Cancer Prevention and Research Institute of Texas (CPRIT).

Data supplied by CPRIT shows organizations in Harris County gained $2.3 billion in institute funding from 2009 through 2025, or nearly $145 million per year. That represents almost 60 percent of the roughly $4 billion that CPRIT has granted to Texas institutions over a 16-year period.

“The life sciences ecosystem that has developed and changed in Houston is phenomenal,” Kristen Doyle, who became the agency’s CEO in July 2024, tells InnovationMap. “In the next decade, we will look back and see a great transformation.”

That ecosystem includes more than 1,100 life sciences and biotech companies, according to the Greater Houston Partnership.

Houston plays critical role in clinical trials

Texas voters approved the creation of CPRIT in 2007. Twelve years later, voters agreed to earmark an extra $3 billion for CPRIT, bringing the state agency’s total investment in cancer research and prevention to $6 billion.

To date, CPRIT money has gone toward recruiting 344 cancer researchers to Texas (mainly to Houston) and has supported cancer prevention services for millions of Texans in the state’s 254 counties. CPRIT funding has also helped establish, expand, or relocate 25 cancer-focused companies. In Houston, MD Anderson ranks as the No. 1 recipient of CPRIT funding.

Regarding cancer research, Doyle says Houston plays a critical role in clinical trials.

“[Clinical trials are] something that CPRIT has focused on more and more. Brilliant discoveries are crucial to this whole equation of solving the cancer problem,” Doyle says. “But if those brilliant ideas stay in the labs, then we’ve all failed.”

Researchers conduct more clinical trials in Houston than anywhere else in the U.S., the Greater Houston Partnership says.

Doyle, a 20-year survivor of leukemia, notes that a minority of eligible patients participate in clinical trials for cancer treatments, “and that’s one of the reasons that it takes so long to get a promising drug to market.”

An estimated 7 percent of cancer patients sign up for clinical trials, according to a study published in 2024 in the Journal of Clinical Oncology.

MD Anderson takes on cancer prevention

Doyle also notes that Houston is leading the charge in cancer prevention.

“We get some national recognition for programs that have been developed in Houston that then can be replicated in other parts of the country,” she says.

Much of the work in Houston focusing on cancer prevention takes place at MD Anderson. The hospital reports that it has received more than $725 million from the CPRIT since 2007, representing approximately 18 percent of CPRIT’s total awards.

“These efforts can have profound impact on the lives of patients and their families, and this funding ensures our exemplary clinicians and scientists can continue working together to drive breakthroughs that advance our mission to end cancer,” Dr. Giulio Draetta, chief scientific officer at MD Anderson, said in a November news release, following the most recent CPRIT award for the hospital totaling more than $29 million.

CPRIT funding for Houston institutions supplements the more than $4.5 billion in federal funding for health and life sciences research and innovations that the Houston area received from 2020 to 2024, according to the Greater Houston Partnership.

“We are curing cancer every single day,” Doyle says of CPRIT. “Every step that we are taking — whether that’s funding great ideas or funding the clinical trials that are bringing promising drugs to Texas and to the world — we are making a difference.”

Houston energy tech co. breaks ground on low-cost hydrogen pilot plant

Coming Soon

Houston’s Lummus Technology and Advanced Ionics have broken ground on their hydrogen pilot plant at Lummus’ R&D facility in Pasadena, Texas.

The plant will support Advanced Ionics’ cutting-edge electrolyzer technology, which aims to deliver high-efficiency hydrogen production with reduced energy requirements.

“By demonstrating Advanced Ionics’ technology at our state-of-the-art R&D facility, we are leveraging the expertise of our scientists and R&D team, plus our proven track record of developing breakthrough technologies,” Leon de Bruyn, president and CEO of Lummus, said in a news release. “This will help us accelerate commercialization of the technology and deliver scalable, cost-effective and sustainable green hydrogen solutions to our customers.”

Advanced Ionics is a Milwaukee-based low-cost green hydrogen technology provider. Its electrolyzer converts process and waste heat into green hydrogen for less than a dollar per kilogram, according to the company. The platform's users include industrial hydrogen producers looking to optimize sustainability at an affordable cost.

Lummus, a global energy technology company, will operate the Advanced Ionics electrolyzer and manage the balance of plant systems.

In 2024, Lummus and Advanced Ionics established their partnership to help advance the production of cost-effective and sustainable hydrogen technology. Lummus Venture Capital also invested an undisclosed amount into Advanced Ionics at the time.

“Our collaboration with Lummus demonstrates the power of partnerships in driving the energy transition forward,” Ignacio Bincaz, CEO of Advanced Ionics, added in the news release. “Lummus serves as a launchpad for technologies like ours, enabling us to validate performance and integration under real-world conditions. This milestone proves that green hydrogen can be practical and economically viable, and it marks another key step toward commercial deployment.”

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This article originally appeared on EnergyCapitalHTX.com.

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