These were Houston's top impact innovation stories this year

2019 IN REVIEW

Memorial Park Conservancy's renovations include some projects that are rare or never been done before. Photo courtesy of MPC

When it comes to the impact that innovation has had on Houston, a number of things stand out for 2019. And, so many of these top stories from this past year are just beginning.

InnovationMap's most read articles in its impact category include new technologies for flood resiliency, The Ion's development, Memorial Park renovations, and more.

These Houston entrepreneurs and startups are searching for flooding solutions

From a water-absorbing tower to sensor-enabled rubber ducks, here are some flooding solution ideas coming out of Houston. Courtesy of Gensler's ByDesign

The feeling is all too familiar for Houstonians. Tropical Storm Imelda hit Houston with devastating flood waters just two years after Hurricane Harvey did its damage.

With any obstacle or challenge, there is room for innovation. Over the past year, InnovationMap has covered various flood tech startups in Houston. Here are six innovations that can make a difference the next time a storm decides to take its toll on Houston. Continue reading.

Memorial Park Conservancy plans to deliver its first project of its master plan redevelopment next year

Memorial Park Conservancy is gearing up to unveil one if its first projects within its 10-year master plan redevelopment. Photo courtesy of MPC

Memorial Park Conservancy has until 2028 to deliver on its master plan redevelopment project, but if MPC president and CEO Shellye Arnold has anything to say about it, the plan will be completed way ahead of that.

The project is a collaborative effort between MPC, Uptown Houston TIRZ, and Houston Parks and Recreation Department to redevelop the 1,500-acre park. In 2011, a major drought decimated the park and areas saw losses of 50 to even 90 percent of the canopy of trees.

"As tragic as it was, it made people take action," says Arnold.

Following the drought, these organizations looked to the people to see what was needed and wanted by the 3 million visitors and residents of the 170 ZIP codes that frequent the park annually.

"There was a huge outcry to do something," Arnold says. "That something became an effort to define the future of the park in a way that would be powerful, bold, thoughtful, innovative, and very resilient. It would consider Houstonians of the future and Houstonians today. It would consider soils, storm water treatment, the wildlife, and what people want." Continue reading.

Overheard: The Ion breaks ground in Midtown's former Sears building

The Rice Management Company has broken ground on the renovation of the historic Midtown Sears building, which will become The Ion. Natalie Harms/InnovationMap

The Ion — a to-be entrepreneurial hub for startups, universities, tech companies, and more — is, in a way, the lemonade created from the lemons dealt to the city by a snub from Amazon.

In 2018, Amazon narrowed its options for a second headquarters to 20 cities, and Houston didn't make the shortlist.

"That disappointment lead to a sense of urgency, commitment, and imagination and out of that has come something better than we ever could have imagined," David Leebron, president of Rice University, says to a crowd gathered for The Ion's groundbreaking on July 19.

However disappointing the snub from Amazon was, it was a wake-up call for so many of the Houston innovation ecosystem players. The Ion, which is being constructed within the bones of the historic Midtown Sears building, is a part of a new era for the city.

"Houston's on a new course to a new destination," says Mayor Sylvester Turner. Continue reading.

Third Ward community expresses concerns with The Ion project that's underway

The local community has raised some concerns about Rice Management Company's Ion project's effect on the Third Ward. Courtesy of Rice University

The city of Houston has been buzzing about Rice Management Company's Ion Innovation Hub — a 270,000-square-foot coworking and innovation hub project expected to deliver in 2021 — but there's one group isn't so thrilled with the plans: The Third Ward community.

In a public community meeting on November 12, community members gathered at the Wesley AME Church to plan a Community Benefits Agreement that would legally bind The Innovation District's development team and the Rice Management Company to move forward with the local residents' indicated best interests. According to the Houston Coalition for Equitable Development without Displacement, a newly formed group to work on the CBA, it would be the first of its kind in Houston.

The coalition is supported by Third Ward is Home Civic Club, the Emancipation Economic Development Council, the Texas Coalition of Black Democrats - Harris County, and the Houston Society for Change. Continue reading.

4 things you need to know from the Greater Houston Partnership's annual report as it pertains to innovation

downtown houston

The Greater Houston Partnership has the facts. Nick Bee/Pexels

Every year, the Greater Houston Partnership — the city's economic development arm — gathers up data and reports to paint a full picture of the Bayou City. In the past few editions, innovation has been a key component.

The GHP's innovation coverage spans three pages under the top industry and sectors category. From tech startup growth to money raised, here's what you need to know from the 2019 Houston Facts. Continue reading.

Space City Month has taken over Houston — and our top stories roundup. Photo via NASA.gov

5 most popular innovation stories in Houston this week

What's trending

Editor's note: The city of Houston has space on its mind. July 20 is the 50th anniversary of NASA's moon landing mission, and the month, deemed Space City Month, is taking over the town. While it is a time so honor the 50-year-old event, it's also a chance to look forward to innovative space technologies and opportunities. This week's top stories reflect some of the space coverage InnovationMap has began this month, and these story seemed to spark some interest from readers.

Here's what you should look out for in Houston during Space City Month

Houston is celebrating 50 years since the Apollo moon landing. Here are somethings you can expect to see in Houston during Space City Month. Photo via NASA.gov

 Fifty years ago, NASA sent a crew of astronauts to the moon and back while a team controlled the mission from the Johnson Space Center in Houston.

In honor of this history-making experience, the Space City is playing host to Space City Month this July, and it's a time to recognize the science and sacrifice it took to put man on the moon, as well as look forward to the future of NASA and space exploration. Click here to continue reading the story.

3 Houston innovators to know this week

These three entrepreneurs saw a need in their industries and created their own solutions. Photos courtesy

A true innovator is someone who's able to look past how something has been done for years — decades even — and be creative enough to find a better way to do it.

From redesigning conventional lab space to seeing a niche opportunity for luxury home rentals, these three innovators to know this week have made strides in changing the game. Click here to continue reading the story.

UK-based smart home products company focuses on Houston growth

United Kingdom-based smart technology company, Hive, chose Houston as the city to grow its United States presence. Photo courtesy of Hive

Hive, a smart product company with headquarters in the United Kingdom, has zoned in on Houston for growth in the United States. Drawn to the city's diverse population and tech growth, the company also has a preexisting connection to Direct Energy, which has a large footprint in Houston.

The two companies are connected under the umbrella of parent company Centrica, which is also based in the U.K. Most recently, the company appointed Leah Barton as North American Commercial Director to serve in the Houston office as of June 2019.

Barton tells InnovationMap that she feels Houston is increasingly becoming an innovation hub. Click here to continue reading the story.

Rice University's Space Institute director on the future of exploration, development, and the role Houston will play in space

David Alexander of the Rice University Space Institute says Houston's past accomplishments in space aren't all the Space City has to offer. Photo courtesy of Rice University

While the city is celebrating the 50th anniversary of the Apollo mission that got man to the moon, this month should also be about looking forward to the Space City's future.

From commercial space travel momentum to upcoming governmental projects, there's a lot in the works for space, and Houston will play a big role in both sides of the equation, says David Alexander, director of the Rice University Space Institute.

"In Houston, we tend to think of space as a destination, but it really is a resource," he says. "And we need to be thinking about it as a resource." Click here to continue reading the story.

Houston takes flight at Paris Air Show just in time for Space City Month​

A delegation from Houston consisting of former astronauts, aircraft experts, and local leaders were invited to the Paris Air Show to represent the Space City. Photo courtesy of the Greater Houston Partnership

As we move closer to the 50th anniversary of Apollo 11 in mid-July, eyes around the world are turning to the United States and to Houston's NASA Johnson Space Center in celebration of the historic mission that first brought mankind to the moon. Thanks to that unprecedented interest, Houston was asked to be a featured partner of the USA Partnership Pavilion at the Paris Air Show last month.

Drawing nearly 2,500 exhibitors from 49 countries and more than 316,000 total visitors, the Paris Air Show continues to be the world's premier aerospace and aviation industry event. Houston's historic achievements set the stage to showcase how the region continues to be a global hub for technology and innovation. Click here to continue reading the story.

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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.

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