Behold ExxonMobil's new Houston HQ. Image via ExxonMobil.com

One of the biggest petrochemical giants on the planet is moving its operations to the Houston area. ExxonMobil announced that it is moving its corporate headquarters from Dallas-Fort Worth/Irving to its campus in Greater Houston.

The company expects the transfer, which will combine its chemical and refining divisions, to be completed by 2023. ExxonMobil’s HQ will no longer be the tree-lined “God Pod” complex in Irving, but rather the shimmering, glass-lined compound in Spring, which former CEO Rex Tillerson opened in 2014. Some 250 people currently work at the Irving location, including the CEO and management committee, an ExxonMobil rep tells CultureMap.

Bloomberg reports the move is mostly aimed at cutting costs; the company estimates $6 billion in savings by moving to Greater Houston and combining divisions. ExxonMobil will also reorganize along three business lines: upstream, product solutions, and low-carbon division, per a statement.

In a statement provided to CultureMap, the company adds that the move “will enhance collaboration and provide more opportunities to share expertise across the entire corporation as part of our strategy to better leverage corporate advantages to grow shareholder value.”

With its big relocation, ExxonMobil becomes Houston’s 25th Fortune 500 headquarters, the third highest concentration in the country, after New York and Chicago, per the Greater Houston Partnership. It will be the largest Fortune 500 company to be headquartered in the Houston region, ranking No. 10 in the 2021 listing based on $181.5 billion revenues in 2020.

“We are thrilled with today’s news,” the Greater Houston Partnership noted in a statement. “ExxonMobil’s move further solidifies Houston’s position as the Energy Capital of the World. ExxonMobil is a key participant in our Houston Energy Transition Initiative, and we look forward to working with the company as we continue to position Houston to lead the energy transition to a low-carbon future.

“In addition, ExxonMobil’s announcement represents the third Fortune 500 headquarters announcement in greater Houston in 13 months, solidifying our position as the No. 3 Fortune 500 headquarters city in the nation.”

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This article originally ran on CultureMap.

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Houston femtech co. debuts new lactation and wellness pods

mom pod

Houston-based femtech company Work&, previously known as Work&Mother, has introduced new products in recent months aimed at supporting working mothers and the overall health of all employees.

The company's new Lactation Pod and Hybrid Pod serve as dual-use lactation and wellness spaces to meet employer demand, the company shared in a news release. The compact pods offer flexible design options that can serve permanent offices and nearly all commercial spaces.

They feature a fully compliant lactation station while also offering wellness functionalities that can support meditation, mental health, telehealth and prayer. In line with Work&'s other spaces, the pods utilize the Work& scheduling platform, which prioritizes lactation bookings to help employers comply with the PUMP Act.

“This isn’t about perks,” Jules Lairson, Work& co-founder and COO, said in the release. “It’s about meeting people where they are—with dignity and intentional design. That includes the mother returning to work, the employee managing anxiety, and everyone in between.”

According to the company, several Fortune 500 companies are already using the pods, and Work& has plans to grow the products' reach.

Earlier this year, Work& introduced its first employee wellness space at MetroNational’s Memorial City Plazas, representing Work&'s shift to offer an array of holistic health and wellness solutions for landlords and tenants.

The company, founded in 2017 by Lairson and CEO Abbey Donnell, was initially focused on outfitting commercial buildings with lactation accommodations for working parents. While Work& still offers these services through its Work&Mother branch, the addition of its Work&Wellbeing arm allowed the company to also address the broader wellness needs of all employees.

The company rebranded as Work& earlier this year.

Rice biotech studio secures investment from Modi Ventures, adds founder to board

fresh funding

RBL LLC, which supports commercialization for ventures formed at the Rice University Biotech Launch Pad, has secured an investment from Houston-based Modi Ventures.

Additionally, RBL announced that it has named Sahir Ali, founder and general partner of Modi Ventures, to its board of directors.

Modi Ventures invests in biotech companies that are working to advance diagnostics, engineered therapeutics and AI-driven drug discovery. The firm has $134 million under management after closing an oversubscribed round this summer.

RBL launched in 2024 and is based out of Houston’s Texas Medical Center Helix Park. William McKeon, president and CEO of the TMC, previously called the launch of RBL a “critical step forward” for Houston’s life sciences ecosystem.

“RBL is dedicated to building companies focused on pioneering and intelligent bioelectronic therapeutics,” Ali said in a LinkedIn post. “This partnership strengthens the Houston biotech ecosystem and accelerates the transition of groundbreaking lab discoveries into impactful therapies.”

Ali will join board members like managing partner Paul Wotton, Rice bioengineering professor Omid Veiseh, scientist and partner at KdT Ventures Rima Chakrabarti, Rice alum John Jaggers, CEO of Arbor Biotechnologies Devyn Smith, and veteran executive in the life sciences sector James Watson.

Ali has led transformative work and built companies across AI, cloud computing and precision medicine. Ali also serves on the board of directors of the Drug Information Association, which helps to collaborate in drug, device and diagnostics developments.

“This investment by Modi Ventures will be instrumental to RBL’s growth as it reinforces confidence in our venture creation model and accelerates our ability to develop successful biotech startups,” Wotton said in the announcement. "Sahir’s addition to the board will also amplify this collaboration with Modi. His strategic counsel and deep understanding of field-defining technologies will be invaluable as we continue to grow and deliver on our mission.”