By September 1, Project V delivered its first order of 30,000 ventilators just 154 days after launching. Photo by AJ Mast for General Motors and Ventec

Houston-based Velentium played a key role in mobilizing thousands of ventilators in the United States at a time when the pandemic and the uncertainty around it was surmounting around the country.

The medical technology company primarily worked in code, software, and cloud-based programs up until March.

"Then we had this opportunity come up in COVID that changed everything for us," says CEO Dan Purvis.

On March 14, an article for Forbes referenced one of Velentium's long-time clients Ventec Life Systems, a manufacturer of ventilators based in Washington. In the article, their client said they could increase production of their much-needed ventilators five-fold if they only had the right resources and partners. Purvis quickly decided that he and his team at Velentium would be one of them.

Velentium first aimed to help the small factory double or triple their production.

"When we first joined the process we were just going to our client, which was a relatively young start up firm, to try to help them go from 120 to 250 [units]," Purvis says.

But then General Motors showed up. And the scale changed dramatically.

The automotive behemoth launched Project V, which would marry it's manufacturing prowess with the technical expertise of the technology and engineering companies to mass produce Ventec's VOCSN ventilator systems. By March 25, operations launched at GM's Kokomo, Indiana, powerhouse plant where they were to produce 10,000 ventilators per month in just about eight week's time.

Velentium was charged with creating 141 automated test stands to verify that every one of Project V's 10,000 units were up to FDA standards. The stands featured 27 unique test systems that monitored 14 critical subcomponents, like air flow in metering valves and oxygen blends, and ultimately approved a ventilator for use through two final tests.

"It's one thing to build [ventilators]," Purvis says. "You need to build them safely, accurately, and in a repeatable way that is going to help people. And that's what our test systems insured."

And though Velentium had created many of these systems before, they had never done so at this scale or speed. Success required around-the-clock work from the then-60-person firm and new risks, that today Purvis says were worth taking.

"I was like, 'If we really want this to work we have to jump on this like nobody's business,'" Purvis recalls. "We bought $2 million worth of parts for test systems essentially at risk. We had not gotten our negotiation with General Motors done yet. But there was no way I could wait an extra week if I had eight weeks to do it. It was kind of terrifying, but it was the right thing to do. It totally aligned with our culture of saving lives."

By September 1, Project V delivered its first order of 30,000 ventilators to the U.S. Department of Health and Human Services, just 154 days after launching.

Today, Velentium maintains a few team members at the Kokomo facility who run sustaining engineering. Throughout the project, Velentium added 60 team members to their staff and doubled down on manufacturing capabilities. They plan to double their production space again as they continue to place more emphasis on their manufacturing arm, which Purvis says opens up new opportunities for the firm that he hopes only continues to grow.

"One of the big goals for me as a strategic leader at the company was to make sure that pre-Project V to post-Project V the transformation that happened to our company through that period would not regress to where we were before," he says. "We had so much impact and so much growth through that time I didn't ever want to change."

He adds: "We asked the question over and over again during the first few weeks of the pandemic in March: Why not us? If I will continue to ask the question…we can accomplish major things."

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Houston brain health co. secures $6.5M for rare disease study

neuro funding

Houston-based Goldenrod Therapeutics, part of Fannin Partners' portfolio, has announced the initial close of a $6.5 million series seed preferred stock round.

The round was led by Ataxia Ventures and an affiliate of Fannin, according to a news release.

Goldenrod Therapeutics plans to use the funding to support manufacturing, formulation optimization, IND-enabling studies and a Phase I study of its drug to treat brain inflammation, known as 11h.

The study will consider how 11h, which blocks the enzyme PDE4, could treat Friedreich’s ataxia (FA), a rare genetic disease that affects movement, speech and balance. To date, other PDE4 inhibitors have proven to regulate neuroinflammation and neuronal signaling, but have had adverse gastrointestinal side effects or have not reached enough of the central nervous system, according to Goldenrod.

The company says its 11h is expected to have "broad applicability" with limited emetric side effects.

“Our 11h program is a next-generation, orally bioavailable, brain-penetrant PDE4 inhibitor, where researchers overcame longstanding limitations associated with earlier PDE4 inhibitors," Dr. Dev Chatterjee, CEO of Goldenrod, said in the news release. "We believe this creates the potential for a best-in-class therapy for Friedreich’s Ataxia and a potential foundation for development across multiple neurodegenerative and neuroinflammatory disorders.”

11h was first developed at the University of Nebraska Medical Center (UNeMed). Houston-based Fannin Partners in-licensed the product 2020 and landed SBIR Phase I funding to support its initial development for opioid use disorder soon after.

Goldenrod has also received funding to study 11h's effectiveness for multiple sclerosis, methamphetamine addiction and cocaine addiction.

Goldenrod says it is developing 11h to target a variety of neurological and inflammatory conditions, including Alzheimer's disease, multiple sclerosis, ALS, substance use disorders, Batten disease, pain and traumatic brain injury.

27 Houston companies make Fortune 500 for 2026, led by energy giants

Houston HQs

Editor's note: This article has been updated to correct the number of companies based in the Dallas-Fort Worth area.

Houston is a giant among U.S. hubs for corporate headquarters.

The 2026 Fortune 500 lists 27 companies based in the Houston area, with many energy companies claiming top spots. Houston ties with Chicago for the second-most Fortune 500 headquarters, preceded only by New York City (53). Dallas-Fort Worth is home to 24 Fortune 500 headquarters.

Texas leads the nation for Fortune 500 headquarters (57), with California in the No. 2 spot and New York at No. 3.

“Texas is the undisputed headquarters of headquarters,” Gov. Greg Abbott said in a news release. “The world’s leading businesses invest with confidence in Texas because of our welcoming business climate, predictable regulatory environment, and skilled and growing workforce. People and businesses are choosing Texas because Texas works.”

The 2026 Fortune 500 ranks the largest U.S. corporations based on revenue in fiscal year 2025.

Here’s a rundown of the 27 Fortune 500 companies based in the Houston area.

  • No. 9 ExxonMobil
  • No. 21 Chevron
  • No. 29 Phillips 66
  • No.55 Sysco
  • No. 75 ConocoPhillips
  • No. 89 Enterprise Products Partners
  • No. 103 Plains GP Holdings
  • No. 133 Hewlett Packard Enterprise
  • No. 149 NRG Energy
  • No. 157 Quanta Services
  • No. 164 Baker Hughes
  • No. 173 Occidental Petroleum
  • No. 179 Waste Management
  • No. 201 EOG Resources
  • No. 204 Group 1 Automotive
  • No. 207 Halliburton
  • No. 223 Cheniere Energy
  • No. 236 Corebridge Financial
  • No. 262 Targa Resources
  • No. 266 Kinder Morgan
  • No. 388 Westlake
  • No. 435 CenterPoint Energy
  • No. 438 APA
  • No. 440 Comfort Systems USA
  • No. 455 NOV
  • No. 488 KBR
  • No. 496 Coterra Energy. Oklahoma City, Oklahoma-based Devon Energy and Houston-based Coterra Energy merged in early May, with the combined company retaining the Devon Energy name and the Houston headquarters.

The Greater Houston Partnership notes the Houston area soon will welcome its 28th Fortune 500 company. Expand Energy (formerly Chesapeake Energy), appearing at No. 362 on the 2026 list, says it’s moving its headquarters from Oklahoma City to Spring this year.

As the natural gas producer prepares to relocate to Texas, it’s hunting for a new leader. Nick Dell’Osso stepped down as president and CEO earlier this year. Board Chairman Michael Wichterich is interim president and CEO.

Dell’Osso became president and CEO of Oklahoma City-based Gulfport Energy effective May 28.

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This article first appeared on EnergyCapitalHTX.com.