WeWork accelerator partners with Houston-based investment platform for food entrepreneurship

food for thought

WeWork Labs and NextSeed have teamed up to help Houston's food entrepreneurs. Photo courtesy of WeWork

Two Houston programs that exist to help grow and develop food and hospitality startups have teamed up to combine their resources and programming.

WeWork Labs, a global acceleration program with a location in downtown Houston, and NextSeed, a Houston-based online investment platform, have announced a partnership set to begin in December. Together, the two entities will build a support system for Houston-based food entrepreneurs to provide workshops, programming, events, and more.

"Houston food entrepreneurs are keen to solve the big problems the food industry is facing today," says Carlos Estrada, head of WeWork Labs in Houston, in a news release. "Houston is among the leading cities for startup innovation and we see our partnership with NextSeed as an exciting first-of-its-kind initiative that will prove to support even more food entrepreneurs in the area, arming them with the network and tools they need to get their concepts off the ground and transform into leading businesses."

WeWork brings in its international food labs programming, and NextSeed will be able to provide access to capital through its platform. In March, the company launched NextSeed Space — a pop-up retail and kitchen space for startups to test their food and operations.

"Since inception, NextSeed has been focused on developing a world-class technology platform to democratize finance and strengthen local communities," says NextSeed CEO, Youngro Lee, in a news release. "By partnering with WeWork Labs, we are excited to be able to expand the level of support we can provide to our clients and member businesses through services like coaching, mentoring and dedicated workspace to help them ultimately reach their goals."

The first joint event hosted will be a reception and panel on December 12 from 6 to 8:30 pm at WeWork's Jones Building location in downtown. For event details, click here.

Houston's seen the effect on climate change. Now, Impact Hub Houston is putting together a brainstorming event to find sustainable solutions. Getty Images

Houston organization to host a hackathon to find sustainable solutions to climate change

It's not easy being green

Houstonians are teaming up to put on a hackathon that will gather designers, developers, entrepreneurs, students, policymakers, and more to find sustainable solutions to climate change.

Impact Hub Houston is organizing Houston's fist Climathon for October 25. The local nonprofit is teaming up with global organizer EIT Climate-KIC, the City of Houston, Citizens' Environmental Coalition, Sketch City, January Advisors, Bunker Labs, WeWork Labs, Syzygy Plasmonics, and GoodFair.

"During Hurricane Harvey, we saw Houston's talent rise to these challenges and develop solutions that not only helped rescue, feed and shelter local Houstonians, but went on to help people in Florida and Puerto Rico," says Grace Rodriguez, CEO and executive director of Impact Hub Houston, in a news release. "We're excited to join the global Climathon challenge in order to give Houston's changemakers a platform to develop sustainable air, water, energy, etc., solutions and take them to the next level. In such a diverse city with so many resources, it seems only natural that Houston can help lead the way in developing local solutions that can scale to other contexts."

The city of Houston has seen its fair share of extreme weather as a result of climate change. The Energy Capital of the World among the highest per capita greenhouse gas emissions in the country, and mayor's office recently-announced Climate Action Plan to address the concerns of climate change.

"Houston has a lot to lose as the weather changes," says Jeff Reichman, founder of January Advisors and Sketch City, in the release. "We should be using our talents to elevate good ideas for our region, and to connect with one another for long-term collaborations."

The event will zero in on Houston's biggest emissions problems: transportation and commercial and residential buildings. The best ideas coming out of the Climathon will be sent to the international database for consideration for the global awards in Paris.

For more information and to register, view partnership opportunities, or sign up to volunteer, visit the website.

Here's your one-stop shop for innovation events in Houston in September. Getty Images

10+ can't-miss Houston business and innovation events for September

Where to be

The busy fall event season is kicking off this month with tons of Houston innovation pitch events, educational panels, and networking opportunities.

If you know of innovation-focused events for this month or next, email me at natalie@innovationmap.com with the details andsubscribe to our daily newsletterthat sends fresh stories straight to your inboxes every morning.

September 5 — MassChallenge Texas in Houston Finale and Startup Showcase

The top startups from the inaugural MassChallenge Texas cohort in Houston will be recognized by community leaders to a room full of potential investors and customers, MassChallenge mentors, VIP community leaders, and their loved ones.

Details: The event is from 6 to 8 pm on Thursday, September 5, at House of Blues Houston (1204 Caroline St.). Learn more.

September 5 — Frost Bank: Fail Forward Series

Join Impact Hub Houston for an evening of #FailForward — behind-the-scenes stories straight from entrepreneurs on the challenges they faced trying to access and raise funding for their small business or startups. And, learn from bankers and financial experts what those entrepreneurs could have done to make their journey easier and more successful.

Details: The event is from 6 to 8 pm on Thursday, September 5, at BakerRipley Leonel Castillo Community Center (2101 South Street). Learn more.

September 6 — Finding your Product-Market fit via the W3 method

Amos Schwartzfarb, Author of Sell More Faster - The Ultimate Sales Playbook for Startups and Managing Director of Techstars Austin will deliver a hands-on workshop for founders (seed through Series A) that will enable you to identify the path to achieving product-market fit. Included in the $25 workshop is a signed copy of Sell More Faster.

Details: The event is from 11 am to 12:30 pm on Friday, September 6, at WeWork Labs (708 Main St., 3rd floor). Learn more.

September 10 — Founder Institute's inaugural cohort graduation showcase

The fresh (and first) graduates of the Founder Institute in Houston are celebrating the completion of their program. The graduation celebration will consist of a leadership focused commencement speech, hearing from the graduates (remarks and pitch), and showcase where each company will have a display table and be able to be speak one-on-one.

Details: The event is from 6 to 9 pm on Tuesday, September 10, at Station Houston (1301 Fannin Street, #2440). Learn more.

September 11 — Energy and Clean Technology Venture Forum XVII

The Rice Alliance's Energy and Clean Technology Venture Forum is the largest energy and clean technology venture capital conference in the U.S. open, to all emerging energy technology companies (both traditional energy and alternative energy).

Details: The event is from 8:30 am to 5 pm on Wednesday, September 11, at Jones Graduate School of Business (Rice University, 1900 Rice Blvd.). Learn more.

September 12 — HX Capital Summit 2019: Presented by JPMorgan Chase

Join Houston Exponential for its 2nd Annual Capital Summit, which will focus on the latest activity amongst Houston investments. This one-day event will highlight panel discussions from all aspects of Houston's innovation scene.

Details: The event is from 7:30 am to 3 pm on Thursday, September 12, at the Shell Auditorium (Rice University). Learn more.

September 12 — Cooley x JLABS @ TMC: Medtech Startup Fundamentals

Join Cooley, JLABS, and TMC Innovation for a half-day seminar gathering leading executives, investors, entrepreneurs, and thought leaders in the medical technology industry. Speakers will explore market trends and share strategies on how to position your startup for growth and success.

Details: The event is from 12:30 to 5:30 pm on Thursday, September 12, at the JLABS @ TMC (2450 Holcombe Blvd). Learn more.

September 17 — Raising Capital with Investment Crowdfunding

Station Houston, NextSeed, and the Greater Houston Black Chamber of Commerce are putting on a discussion about fundraising online.

Details: The event is from 11:30 am to 1:30 pm on Tuesday, September 17, at Station Houston (1301 Fannin Street, #2440). Learn more.

September 19 — The Cannon Grand Opening

The Cannon, an entrepreneurial hub in West Houston, is celebrating its new digs. Join the party to learn about coworking at The Cannon, to network with Houston's innovation ecosystem, and more.

Details: The event is from 4 to 9 pm on Thursday, September 19, at The Cannon (1336 Brittmoore Road). Invite only.

September 19 — JLABS x UH: Startup Pains: From Academia to Startup

JLABS and the University of Houston Technology Bridge present a special installment of the university's monthly Startup Pains. This month the focus is on licensing and technology transfer.

Details: The event is from 5:30 to 7 pm on Thursday, September 19, at the JLABS @ TMC (2450 Holcombe Blvd). Learn more.

September 24 — The Future of Payments: How Fintech, Crypto, and Blockchain are Transforming E-Commerce

The global economy is powered by 125 million business and payments between those businesses transacted over a variety of technologies. In the US, $2 trillion of the $58 trillion in payments generated by small business are "other" — new digital payment technologies including cryptocurrency and blockchain created by fintechs, banks and large players like Facebook and JP Morgan. Over time, the remaining $56 trillion will shift from paper checks to more digital forms. A change in the payments landscape is imminent, and in many ways, the US is behind in digital acceptance. What will this change look like? Join Vinay Pai, senior vice president of engineering at Bill.com, as he discusses.

Details: The event is from 4 to 5 pm on Tuesday, September 24, at Duncan Hall (Rice University). Learn more.

September 24 — The Eco-System of the Language Industry: Panel and Networking Event

Introducing the first Women in Localization Texas Chapter Houston Event. Winnie Heh, associate chapter manger - mentoring for the Silicon Valley Chapter, and Middlebury Institute of International Studies Career Advisor, Translation, Interpretation & Localization Management, will be presenting on importance of localization and various localization job functions available in our rapidly globalized world.

Details: The event is from 6 to 8 pm on Tuesday, September 24, at Station Houston (1301 Fannin Street, #2440). Learn more.

September 24 & 25 — Innovation Engineering Quick Start Class

Bruce G. Hall, CEO and president of eureka! inventing is teaching an abridged version of his innovation engineering course that's offered at the University of Houston. InnovationMap readers can get half off by registering through this link.

Details: The course is on either Tuesday, September 24, or Wednesday, September 25, at Energy Corridor Marriott (16011 Katy Fwy).Learn more.

September 25 — Third Coast Innovators Mixer

Calling all innovators and entrepreneurs in the Third Coast. JLABS @ TMC is hosting a networking event with fellow innovators and entrepreneurs in the ecosystem as well as current JLABS residents and the JLABS @ TMC team.

Details: The event is from 5 to 7 pm on Wednesday, September 25, at the JLABS @ TMC (2450 Holcombe Blvd). Learn more.

September 25 — Energy Tech Night

Energy Tech Night offers insights from energy digitalization/innovation/emerging tech experts and rapid-fire pitches from the cutting edge in startups offering solutions for the energy challenges of today & tomorrow.

Details: The event is from 6:30 to 8:30 pm on Wednesday, September 25, at Saint Arnold Brewery (2000 Lyons Ave) Learn More

WeWork will have a fourth Houston location. Photo courtesy of WeWork

WeWork doubles down on downtown with its 4th Houston coworking space announced

Coworkers unite

WeWork has decided to open yet another coworking location in Houston — this time, the new office is just down the street from an existing location.

The New York City-based coworking company has opened three locations across Houston — one in downtown's The Jones Building, one in the Galleria Office Tower I, and one in Hughes Landing in The Woodlands, which was recently announced in May.

The new location will occupy 56,000 square feet of the 25th and 26th floors of 609 Main, Houston-based Hines' 48-story trophy tower that joined the Houston skyline in early 2017. The building now has tenants to the tune of United Airlines, Kirkland & Ellis LLP, Orrick, and Hogan Lovells, to name a few.

"The modern office is evolving and providing a coworking component is essential to a building's long-term viability," says Philip Croker, Hines senior managing director, in a release. "Adding a tenant of WeWork's caliber further reinforces the strength of 609 Main and will deliver an outstanding amenity for the building and its future occupants."

In addition to the usual WeWork perks — like 24/7 building access, coffee, community events, and business resources — members will also have access to a 7,000-square-foot high-performance fitness center in the building and the lobby coffee shop.

Michael Anderson and Damon Thames with Colvill Office Properties represented Hines in the transaction and Mark O'Donnell with Savills Commercial Real Estate negotiated on behalf of WeWork.

"Houston is a thriving business hub and innovative city," says Nathan Lenahan, general manager of WeWork, in a release. "We are excited to expand our footprint with a second location downtown and continue to strengthen the WeWork network with the opening of 609 Main Street."

In May, WeWork announced that it would be opening 1,000 desks in its new Woodlands location, but the company also disclosed that 775 desks will be added to the Galleria location in 2019 too. In the same release, an additional 1,000 desks were noted to be in the works, pending new leases. This figure could have been referring to the then-unannounced downtown location.

"In 2018, WeWork grew its footprint in a very big way in Houston. Now, in 2019, we're growing even more, but in a way that's as much about desks as it is impact," says Roniel Bencosme, WeWork Houston's community director, in the news release. "In this next year, WeWork will build a constellation of opportunity through new spaces spread across Houston, and opening in the Woodlands is key to that effort."

Regionally, WeWork has a presence in five cities in Texas — Dallas, Fort Worth, Houston, Austin, and Plano — but will launch in its sixth Texas city, San Antonio, in early 2020.

Last month, WeWork announced that Houston's Jones Building location would be one of three WeWork locations selected for a 3D printing pilot program. Additionally, earlier this year the company announced its early-stage incubator program, WeWork Labs, also in the Jones Building location.

Houston is one of only five WeWork Labs markets that can expect access to 3D printers as a part of a pilot program with two companies. Courtesy of WeWork

WeWork selects Houston as one of its markets for a 3D printing pilot program

press print

WeWork has teamed up with two leading 3D printing companies to bring their technology into five WeWork Labs markets — including Houston's downtown location. The other locations tapped for the pilot program are London, San Francisco, New York, and Seattle.

Massachusetts-based Formlabs' Form 2 printer has over 20 different material resins WeWork Labs members can use to prototype and print products using desktop stereolithography.

"Formlabs was founded eight years ago on the basis of empowering anyone to make anything," says Max Lobovsky, CEO and co-founder of Formlabs in a release. "Today, our customers have printed more than 40 million parts, they vary from early stage entrepreneurs changing the status quo and developing new applications to Fortune 500s experimenting with new business models or production methods."

The other company involved in the program is Seattle-based Glowforge, which created a 3D laser printer. Glowforge Plus uses subtractive laser technology to cut and sculpt projects from materials like wood, leather, acrylic, stone — and even stickers. The company, which was founded in 2014, has had over three million prints on its devices — everything from jewelry and clothing to machinery.

"We are thrilled to partner with WeWork Labs to provide their community of entrepreneurs and startups alike access to the tools that will help them create corporate giveaways, new product prototypes, and full production runs — everything to take their dreams from idea to creation," says Dan Shapiro, CEO of Glowforge, in the release.

The printers will be revealed at various launch events celebrating the National Week of Making, which begins June 21 and goes through June 27. Houston's launch event will be on June 28, but the specifics have not yet been finalized.

"We see WeWork Labs as a platform for creators, innovators and makers alike, and believe partnering with Glowforge and Formlabs will give our members even more of an opportunity to take their ideas, and bring them to life," says Katie Perkins, creative director at WeWork Labs, in the release. "We are incredibly excited to welcome two leading brands and their products into our community, giving creators access to the tools they need and inspiring new creators to be makers themselves."

Houston's WeWork Labs program launched in March in the WeWork Jones Building at 708 Main St. and includes a partnership with local digital startup resource, Alice. The WeWork Labs program started a little over a year ago and is already in over 30 markets worldwide.

"As the fourth largest city, Houston is in a unique position to launch high-impact startups," says Houston Labs Manager Carlos Estrada, in a previous release. "We see WeWork Labs in Houston as a tremendous platform for innovation, as our founder-focused approach to supporting early-stage startups will nurture and accelerate the work of entrepreneurs to scale their solutions to today's biggest challenges."

Form 2

Courtesy of WeWork

Using 20 types of resin materials, Formlabs' Form 2 can create parts or prototypes.

WeWork's newest Houston-area location is headed to The Woodlands. Courtesy of WeWork

WeWork announces its Houston-area third location in The Woodlands as the company expands locally

Coworking growth

In 2018, WeWork more than doubled its presence in Houston in terms of desks available. The company went from one location in the Galleria area with 1,100 desks to adding a second location in downtown with 1,500 desks. In 2019, WeWork is expected to again double the number of coworking desks the company will have by the end of the year — most new desk space will come from WeWork's new location in The Woodlands.

"In 2018, WeWork grew its footprint in a very big way in Houston. Now, in 2019, we're growing even more, but in a way that's as much about desks as it is impact," says Roniel Bencosme, WeWork Houston's community director, in a news release. "In this next year, WeWork will build a constellation of opportunity through new spaces spread across Houston, and opening in the Woodlands is key to that effort."

WeWork will have 1,000 desks at the new northwest location (1725 Hughes Landing) across two floors and 52,000 square feet of space, according to the release. WeWork Galleria will add 775 desks in the fourth quarter of 2019, and 1,000 more desks will be added by end of the year pending new leases, the release says. Regionally, WeWork has a presence in five cities in Texas — Dallas, Fort Worth, Houston, Austin, and Plano — but will launch in its sixth Texas city, San Antonio, in early 2020.

In 2019, WeWork will also be growing its social impact programs on a national level in addition to its footprint. Recently, WeWork formed a partnership with the Female Founders Alliance, the Tent Partnership for Refugees, to hire 1,500 refugees at WeWork over the next five years. The company's veterans hiring initiative will also be hiring 1,500 veterans over the next five years.

Houstonians can also expect to see new WeWork Labs, WeWork's accelerator concept, around town, as well as the Veterans in Residence third cohort. WeWork's Flatiron School, which is in its downtown Houston location, will see new cohorts and boasts of a 98 percent job rate placement rate. The school alsy awarded $200,000 in scholarship dollars last year.

"Impact for WeWork is about enabling opportunity. We unlock access to thriving workspaces for companies of all sizes that would otherwise be out of reach," Bencosme says in the release. "We help cities like Houston attract top companies and reduce friction for them to put down roots. We're creating synergies and connectivity across the metro region at a level and scale that's never been done before. That's impact.

WeWork recently released its Global Impact Report for 2019, and the research tracked specifics about its Houston membership. Here were some key findings of the study locally:

The majority of Houston WeWork members (83 percent) are in the innovation economy, compared to 12% in the region as a whole.
When it comes to sustainable commuting, 42 percent of WeWork members walk, bike, or use public transit to go to work.
The Houston WeWork economy contributes over $1 billion to the city's GDP — either directly ($480 million) or indirectly ($530 million)
WeWork's small and medium-sized member companies in Houston have an average job growth rate of 32 percent (compared to 1 percent for all companies in Houston).
In Houston, 58 percent of WeWork members say the organization has helped their company accelerate its growth.
While 44 percent of senior roles at U.S. WeWork member companies are held by women, Houston's percentage of female-led companies at WeWork locally is slightly lower at 36 percent.
Of WeWork members that are entrepreneurs in Houston, 26 percent are first-time entrepreneurs, and 1 in 20 of the city's first-time entrepreneurs are WeWork members.

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Intuitive Machines engineer talks STEM, innovation, and second chances

Innovator Interview

Mario Romero is an assembly, integration, and test engineer at the innovative Houston aerospace company Intuitive Machines. He previously served as a Navy SEAL and an EVA Flight Simulator Specialist at NASA.

Intuitive Machines landed its IM-2 mission on the moon last month, before calling an early end of mission. The company reported that its lunar lander was on its side, preventing it from completing the mission as planned.

Still, the IM-2 mission landed closer to the lunar South Pole than any previous lander, according to NASA. And the company still has plenty of innovative projects in the works.

The company secured about $2.5 million from NASA to study challenges related to carrying cargo on the company’s lunar lander and hauling cargo on the moon. The lander will be used for NASA’s Artemis missions to the moon and eventually to Mars.

“Someone has to do it; in fact, the more the merrier,” Romero says on being part of an innovative culture.

“Competition forces innovation, and if I can be selfish for a moment, I think it’s of particular importance for Intuitive Machines because my extremely capable team is more than worthy of having their place stamped in history. We, as a species, have to strive to become a multiplanetary species. Incidentally, part of the trickle-down effect of innovation often leads to spin-off technology that in some way benefits humanity here on Earth.”

Last year, Romero was awarded the key to the city from his hometown of Vineland, New Jersey, and made it a point in his speech to give kids a chance to succeed in the future.

“I am the product of many chances, secondary, tertiary, and more, given to me,” Romero says. “Many of these were admittedly entirely undeserving. I look back now and recognize that those teachers, judges, police, etc. might have all seen something in me that I couldn’t then see in myself. … This is precisely why I often emphasize giving kids multiple chances. Kids are kids, and you can never fully know how you’re inspiring them in the moment, nor how the chances that you give them will affect the trajectory of their lives.”

Texas is expected to represent nearly 10 percent of future STEM opportunities in the nation, and nine of the 20 biggest employers in Texas are STEM-related.

As STEM has become increasingly popular in high schools and at the university level, and the aerospace industry continues to innovate, it is possible that many young future innovators may take the same path a young Romero did.

“I think it’s natural that when new leaps are made in the STEM fields, and in the aerospace realm at large, the youth in general become galvanized by it,” Romero says.

“It’s exciting and reinvigorating to understand that humanity is on the cusp of the next great adventure. As fantastic and essential as this is, I want to emphasize the importance of the arts as well. It has an important place and an important role to play in our evolution, so I personally don’t limit youthful interest to STEM alone. There are fantastic works of art awaiting us, in all their variety, that will come as a result of the efforts and innovation.”

18 Houstonians land on Forbes world's billionaires list for 2025

World's Richest

The world’s richest people are wealthier now than they've ever been, and more billionaires have made it onto the 2025 World's Billionaires List than ever before, according to Forbes. This year, 18 Houston-based billionaires are among the richest people in the world, with hospitality honcho Tilman Fertitta leading as the richest Houstonian.

Fertitta, 67, ranked No. 220 overall with an estimated net worth of $11.3 billion, which steadily increased from his 2024 net worth of $9.4 billion.

In addition to owning the Houston Rockets, the busy billionaire owns Texas-based hospitality and entertainment corporation Landry's, and he authored a book about business leadership in 2019. He most recently was nominated as the new United States ambassador to Italy by President Donald Trump.

Ranking 248th overall is oil and gas chairmanRichard Kinder. Forbes estimates his net worth at $10.6 billion, up from $8.1 billion in 2024.

Kinder cofounded pipeline giant Kinder Morgan in 1997, and stepped down as CEO in 2015, though he still retains his seat as chairman of the board. The company is the largest energy infrastructure firm in the U.S., Forbes says, and it owns 79,000 miles of pipeline.

New to the 2025 list is Perry Homes executive chair Kathy Britton, whose company has built over 65,000 homes across the U.S., according to Forbes. Her late father, Bob Perry, founded Perry Homes in 1967. Britton ranked No. 1408 with an estimated net worth of $2.6 billion.

Mercedes-Benz mega-dealer Joe Agresti is another newbie to the list, ranking No. 2790 with a net worth of $1.1 billion. He owns Dream Motor Group with former football coach Nick Saban.

14 additional Houston-area billionaires that made Forbes 2025 world’s richest list are:

Houston pipeline heir Randa Duncan Williams: ranked No. 307 with an estimated net worth of $9.3 billion, up from $7.7 billion in 2024. Fellow pipeline heirs Dannine Avara and Milane Frantz tie for 311th nationally. Each has an estimated net worth of $9.2 billion, up from $7.6 billion. Scott Duncan ranks No. 329 with a $9 billion estimated net worth, up from $7.6 billion in 2024.
Houston oil tycoon Jeffery Hildebrand: ties for No. 411; $7.7 billion, down from $12.6 billion
Toyota mega-dealer Dan Friedkin: ties for No. 411; $7.7 billion, up from $6.4 billion
Houston Texans owner Janice McNair and family: No. 561, $6.2 billion, up from $5.6 billion
Energy exploration chief exec George Bishop: No. 717, $5 billion, up from $3.2 billion (based in The Woodlands)
Westlake Corporation co-owners Albert Chao, James Chao and their families:tied for No. 902, $4 billion, down from $4.9 billion
Hedge fund honcho John Arnold: No. 1266, $2.9 billion, down from $3.3 billion
Houston Astros owner Jim Crane: No. 1513, $2.4 billion, unchanged from 2024
Former Houston Rockets owner Leslie Alexander: tied for No. 1850, $1.9 billion, unchanged from 2024
Frontier Airlines chairman William Franke: No. 2623, $1.2 billion, down from $1.3 billion

Elsewhere in Texas, Austin-based billionaire Elon Musk topped Forbes' list as the world's richest person in 2025. The Tesla and SpaceX founder knocked French luxury goods magnate Bernard Arnault down to second place this year.

Forbes declared Musk the first person to reach the $300 billion status. His current net worth stands at $342 billion, which is a staggering $147 billion more than his 2024 net worth.

"It’s another record-breaking year for the world’s richest people, despite financial uncertainty for many and geopolitical tensions on the rise," said Forbes senior editor of wealth Chase Peterson-Withorn. "And, from Elon Musk to Howard Lutnick and the other billionaires taking over the U.S. government, they’re growing more and more powerful."

In Dallas-Fort Worth, Walmart heiress Alice Walton became the wealthiest woman in the world in 2025. Forbes declared Walton's net worth at $101 billion, which is $28.7 billion more than her 2024 net worth of $72.3 billion. She is now one of 15 individuals to claim 12-figure fortunes, also known as the "$100 Billion Club."

State-of-the-art innovation hub opens in Houston Energy Corridor

flagship facility

French multinational company Schneider Electric has opened a new 10,500-square-foot, state-of-the-art Energy Innovation Center in Houston.

The new facility is located in Houston’s Energy Corridor and is designed to “foster increased collaboration and technological advancements across the entire value chain,” according to a news release from the company. The new Houston location joins Schneider's existing innovation hubs in Paris, Singapore and Bangalore.

The venue will serve as a training center for process control engineers, production superintendents, manufacturing managers, technical leads and plant operations personnel. It can simulate various real-world scenarios in refineries, combined-cycle power plants, ethylene plants, recovery boilers and chemical reactors.

It includes an interactive control room and artificial Intelligence applications that “highlight the future of industrial automation,” according to the release.

"Digitalization is significantly enhancing the global competitiveness of the U.S. through continuous innovation and increased investment into next-generation technology," Aamir Paul, Schneider Electric's President of North America Operations, said in the release.

Texas has over 4,100 Schneider Electric employees, the most among U.S. states, and has facilities in El Paso, the Dallas-Fort Worth metroplex and other areas.

"This flagship facility in the Energy Capital of the World underscores our commitment to driving the future of software-defined automation for our customers in Houston and beyond,” Paul added in the release. “With this announcement, we are excited to continue supporting the nation's ambitions around competitive, efficient and cost-effective manufacturing."

Schneider Electric says the new Houston facility is part of its expansion plans in the U.S. The company plans to invest over $700 million in its U.S. operations through 2027, which also includes an expansion at its El Paso campus.

The company also announced plans to invest in solar and battery storage systems developed, built, and operated by Houston-based ENGIE North America last year. Read more here.

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This story first appeared on our sister site, EnergyCapitalHTX.com.

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