New study says Houston is best city to grow business

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Houston has been lauded for being home to fast-growing companies. Photo via Getty Images

The Bayou City has again received recognition as a top hub for business.

According to a new study by business revenue experts The RevOps Team, Houston is one of the cities in the US with 10 or more companies listed in the S&P 500, and has been named as the number one city with the fastest growing businesses in the U.S. Houston scored the highest Average Business Growth (ABG) at 26.7 percent. The business experts divided the data from the S&P 500 Index to see what businesses had the highest share-price growth in the last year.

Out of the 28 states and the cities with 10 or more businesses listed in the S&P 500, Houston was No. 1t for growing businesses with Atlanta, in second place with 15 companies listed and reaching an ABG of 24.2 percent. Two cities in Texas ranked in the top five with Dallas taking third place at 14.9 percent.

Texas ranked fifth place overall in the top five states for business growth with high-performing businesses like Vistra. Vistra was the company with the highest growth in Texas at 277.68 percent, followed by NRG Energy (NRG) with 170.43 percent and Caterpillar Inc. (CAT) at 69.13 percent.

“You need to be ready to both leverage opportunity and adapt to challenges,” Kerri Linsenbigler of RevOps Team said in a news release. “Growing a business wherever you are in the U.S. is not for the faint-hearted, and business owners in Texas will be proud that they have ranked highly in the top five.”

Earlier this month, over a dozen Houston-based companies madeU.S. News and World Report's collection of the "Best Companies to Work For" in 2024-2025.

In December, the city was ranked among the 25 best metropolitan areas to start a small business in a report by personal finance website The Credit Review placed Houston in the No. 22 spot.

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This month, Mark Walker is celebrating his company's one year anniversary of going public — only the ninth Black-founded business to accomplish this feat on a U.S. stock exchange. Photo courtesy

Houston founder shares how he's using tech to make digital media more effective and equitable

houston innovators podcast episode 173

After working in both sides of the advertising world, Mark Walker thought he could reimagine a platform that would be more efficient and equitable.

Walker co-founded his company, Direct Digital Holdings, an adtech platform, after serving in several roles — from an early hire at Houston digital media startup Questia to business development director at NRG Energy and COO of EBONY Media. He shares on the Houston Innovators Platform how he took this experience in tech, advertising, and media to create his company's platform.

"NRG Energy gave me a top-down view of the value chain, and Ebony gave me a bottoms-up view of the value chain of how media is purchased," Walker says on the show. "At Direct Digital Holdings, we help companies buy and sell media — and we leverage technology to do it. It's really the culmination of both of those experiences."

With over 30,000 publishers on its platform, Direct Digital makes it easier for its core customers — middle market companies looking to buy into the digital media ecosystem — to tap into these opportunities without the tech know-how they might otherwise need. Walker explains that at EBONY, he saw how small to midsize publications — especially the multicultural ones — were being left out on the ad selling side of the equation. The Direct Digital platform bridges the gap on each end.

Founded in 2018 in partnership with Keith Smith, who went through similar professional experiences, Direct Digital went public exactly one year ago after growing the company through strategic M&A activity. Walker says the decision to IPO made the most sense for his company — though it wasn't an easy process. Direct Digital is only the ninth company founded by a Black entrepreneur to go public on a US stock exchange.

"If you think the process is hard — it actually is," Walker says on the journey to IPO. "We were a privately held company, and we knew we had a good growth trajectory and we looked a couple different options. We decided to go public in a very traditional way."

Walker explains there were some risks involved, but the co-founders ultimately decided to shy away from adding in investors who might not have the same ideas for the company's future.

Direct Digital has been a Houston company from the star — despite the city not being home to a booming adtech ecosystem. Instead, Houston — with its collection of Fortune 500 companies and rich diversity — has allowed the business to stand out.

"If you look at and reflect on how our company has been built — from our board of directors to our leadership and management team — we're a majority minority organization all the way across the board," Walker says. "Diversity is very important to us. It's the lifeblood of our business — especially because we're serving publishers in those communities in big way. And moreso, we think you get the best product, thoughts, and ideas from a diverse workforce, and Houston fits right into that mold for us."

Walker shares more about his company's future, advice on IPO, and what all he's watching in adtech — from AI to streaming — on the podcast. Listen to the interview below — or wherever you stream your podcasts — and subscribe for weekly episodes.

Business and government leaders in the Houston area hope the region can become a hub for CCS activity. Photo via Getty Images

3 businesses join Houston initiative for carbon capture and storage

seeing green

Three big businesses — Air Liquide, BASF, and Shell — have added their firepower to the effort to promote large-scale carbon capture and storage for the Houston area’s industrial ecosystem.

These companies join 11 others that in 2021 threw their support behind the initiative. Participants are evaluating how to use safe carbon capture and storage (CCS) technology at Houston-area facilities that provide energy, power generation, and advanced manufacturing for plastics, motor fuels, and packaging.

Other companies backing the CCS project are Calpine, Chevron, Dow, ExxonMobil, INEOS, Linde, LyondellBasell, Marathon Petroleum, NRG Energy, Phillips 66, and Valero.

Business and government leaders in the Houston area hope the region can become a hub for CCS activity.

“Large-scale carbon capture and storage in the Houston region will be a cornerstone for the world’s energy transition, and these companies’ efforts are crucial toward advancing CCS development to achieve broad scale commercial impact,” Charles McConnell, director of University of Houston’s Center for Carbon Management in Energy, says in a news release.

McConnell and others say CCS could help Houston and the rest of the U.S. net-zero goals while generating new jobs and protecting current jobs.

CCS involves capturing carbon dioxide from industrial activities that would otherwise be released into the atmosphere and then injecting it into deep underground geologic formations for secure and permanent storage. Carbon dioxide from industrial users in the Houston area could be stored in nearby onshore and offshore storage sites.

An analysis of U.S Department of Energy estimates shows the storage capacity along the Gulf Coast is large enough to store about 500 billion metric tons of carbon dioxide, which is equivalent to more than 130 years’ worth of industrial and power generation emissions in the United States, based on 2018 data.

“Carbon capture and storage is not a single technology, but rather a series of technologies and scientific breakthroughs that work in concert to achieve a profound outcome, one that will play a significant role in the future of energy and our planet,” says Gretchen Watkins, U.S. president of Shell. “In that spirit, it’s fitting this consortium combines CCS blueprints and ambitions to crystalize Houston’s reputation as the energy capital of the world while contributing to local and U.S. plans to help achieve net-zero emissions.”

NRG's sole HQ will be in Houston. NRG.com

Energy giant makes Houston sole headquarters in massive move

HQ move

Power player NRG Energy is laser focused on Houston. The Bayou City will be the energy giant's new sole headquarters; the company will no longer split between Houston and Princeton, New Jersey.

The move to a single headquarters simplifies business operations, as a large number of the company's employees and customers reside in Texas, the company noted in a press release and report.

The company, having recently acquired Direct Energy, will maintain regional offices in the markets that it serves and "evaluate real estate needs and consolidate as appropriate," the report adds.

Mayor Sylvester Turner welcomed the news in a statement, relaying that he and his team have had "substantive conversations" with NRG president and CEO Mauricio Gutierrez. "I believe the decision is confirmation that Houston is a smart city for business," said Turner.

Texas Gov. Greg Abbott also chimed in, adding in part:

With this move, NRG joins 50 other Fortune 500 companies headquartered in Texas, including 22 in the Houston area alone. America's leading businesses continue to invest in Texas — and grow jobs in Texas — because of our welcoming business climate, low taxes, reasonable regulations, and our young, growing, and skilled workforce.
I thank NRG Energy for designating Texas — the energy capital of the world — as their corporate headquarters, and I look forward to our continued partnership as we ensure a more prosperous future for all who call the Lone Star State home.

Turner noted that more than a year ago, the City of Houston committed to purchasing 100 percent renewable energy through a renewed partnership with NRG Energy as the City's retail electric provider. "The plan is helping us build a more sustainable future, save over $9 million on our electric bill, and reduce emissions," he said.

NRG Energy boasts some 3,000 employees in Houston alone. In its report, the company reported a net loss of $83 million due the impact of Winter Storm Uri.

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This article originally ran on CultureMap.

Through increasing awareness, affordability, and accessibility, the city of Houston hopes to grow the number of electric vehicles on Houston roads by 2030. Courtesy of EVolve Houston

Mayor announces major effort to reduce emissions on Houston's roadways

Easy EVs

The city of Houston has taken a major step toward reducing carbon emissions caused by its estimated 1.3 million vehicles that drive the city's streets daily.

Mayor Sylvester Turner announced a new partnership between the government, local businesses, and academic leaders that has created EVolve Houston. The coalition is aimed at boosting electric vehicle sales to 30 percent of new car sales in Houston by 2030.

"This new partnership will help solidify Houston's success as a leader in transportation technology and it will help improve air quality for the citizens of Houston and beyond, by reducing reliance on vehicles powered by carbon-based fuels," Mayor Turner says in a release. "Houston will now have a dedicated resource working to increase the adoption of electric vehicles, wherever it makes sense to do so. Nearly half of the greenhouse gas emissions in Houston come from transportation. Shifting to zero emission forms of transportation is a key strategy to help us meet our ambitious climate goals and improve our regional air quality."

EVolve Houston, which will contribute to the city's Climate Action Plan that was announced in July, will focus on increasing awareness, affordability, and availability of electric vehicles. The coalition's founding partners include the city, CenterPoint Energy, the University of Houston, NRG Energy, Shell, and LDR.

"Houston has bold goals to improve air quality and reduce greenhouse gas emissions. To do that, we must make a major impact on one of the largest sources of emissions, which is transportation" says Dr. Ramanan Krishnamoorti, the chief energy officer at University of Houston.

The partners will focus on launching pilot projects as well as hosting demonstrations and awareness activities to promote EV adoption, according to the release.

"At CenterPoint Energy, we are committed to making a positive difference in the communities we touch, and environmental stewardship is an integral component of our overall corporate responsibility approach," says Scott Prochazka, president and CEO of CenterPoint Energy, in the release. "I am proud to partner with Mayor Turner and other founding members of EVolve Houston to help accelerate clean transportation for Houston."

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Biosciences startup becomes Texas' first decacorn after latest funding

A Dallas-based biosciences startup whose backers include millionaire investors from Austin and Dallas has reached decacorn status — a valuation of at least $10 billion — after hauling in a series C funding round of $200 million, the company announced this month. Colossal Biosciences is reportedly the first Texas startup to rise to the decacorn level.

Colossal, which specializes in genetic engineering technology designed to bring back or protect various species, received the $200 million from TWG Global, an investment conglomerate led by billionaire investors Mark Walter and Thomas Tull. Walter is part owner of Major League Baseball’s Los Angeles Dodgers, and Tull is part owner of the NFL’s Pittsburgh Steelers.

Among the projects Colossal is tackling is the resurrection of three extinct animals — the dodo bird, Tasmanian tiger and woolly mammoth — through the use of DNA and genomics.

The latest round of funding values Colossal at $10.2 billion. Since launching in 2021, the startup has raised $435 million in venture capital.

In addition to Walter and Tull, Colossal’s investors include prominent video game developer Richard Garriott of Austin and private equity veteran Victor Vescov of Dallas. The two millionaires are known for their exploits as undersea explorers and tourist astronauts.

Aside from Colossal’s ties to Dallas and Austin, the startup has a Houston connection.

The company teamed up with Baylor College of Medicine researcher Paul Ling to develop a vaccine for elephant endotheliotropic herpesvirus (EEHV), the deadliest disease among young elephants. In partnership with the Houston Zoo, Ling’s lab at the Baylor College of Medicine has set up a research program that focuses on diagnosing and treating EEHV, and on coming up with a vaccine to protect elephants against the disease. Ling and the BCMe are members of the North American EEHV Advisory Group.

Colossal operates research labs Dallas, Boston and Melbourne, Australia.

“Colossal is the leading company working at the intersection of AI, computational biology, and genetic engineering for both de-extinction and species preservation,” Walter, CEO of TWG Globa, said in a news release. “Colossal has assembled a world-class team that has already driven, in a short period of time, significant technology innovations and impact in advancing conservation, which is a core value of TWG Global.”

Well-known genetics researcher George Church, co-founder of Colossal, calls the startup “a revolutionary genetics company making science fiction into science fact.”

“We are creating the technology to build de-extinction science and scale conservation biology,” he added, “particularly for endangered and at-risk species.”

Houston investment firm names tech exec as new partner

new hire

Houston tech executive Robert Kester has joined Houston-based Veriten, an energy-focused research, investment and strategy firm, as technology and innovation partner.

Kester most recently served as chief technology officer for emissions solutions at Honeywell Process Solutions, where he worked for five years. Honeywell International acquired Houston-based oil and gas technology company Rebellion Photonics, where Kester was co-founder and CEO, in 2019.

Honeywell Process Solutions shares offices in Houston with the global headquarters of Honeywell Performance Materials and Technologies. Honeywell, a Fortune 100 conglomerate, employs more than 850 people in Houston.

“We are thrilled to welcome Robert to the Veriten team,” founder and CEO Maynard Holt said in a statement, “and are confident that his technical expertise and skills will make a big contribution to Veriten’s partner and investor community. He will [oversee] every aspect of what we do, with the use case for AI in energy high on the 2025 priority list.”

Kester earned a doctoral degree in bioengineering from Rice University, a master’s degree in optical sciences from the University of Arizona and a bachelor’s degree in laser optical engineering technology from the Oregon Institute of Technology. He holds 25 patents and has more than 25 patents pending.

Veriten celebrated its third anniversary on January 10, the day that the hiring of Kester was announced. The startup launched with seven employees.

“With the addition of Dr. Kester, we are a 26-person team and are as enthusiastic as ever about improving the energy dialogue and researching the future paths for energy,” Holt added.

Kester spoke on the Houston Innovators Podcast in 2021. Listen here

Startup funding, sportstech win and more trending innovation news for January

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