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Chevron venture arm enters partnership with West Houston coworking space

Chevron Technology Venture will have an office in the new, 120,000-square-foot coworking space The Cannon is expecting to open this spring. Courtesy of The Cannon

As corporate venture grows as a presence in oil and gas, more and more startups have access to funding from large corporations. Aware of the corporate venturing trend, The Cannon, a West Houston coworking space, has formed a partnership with Chevron Technology Ventures, Chevron's venture arm that's currently based in Downtown Houston.

CTV will have an office and regular office hours in The Cannon's new, 30-acre campus that is expected to open this spring. (A previous version of this story included other details of the CTV office at The Cannon.)

"We are always trying to surround our members with as much support and as many resources as possible to help them succeed. Chevron's engagement with our community will help further these efforts in a really exciting way," says Lawson Gow, founder and CEO of The Cannon, in a release. Gow is the son of David Gow, owner of InnovationMap's parent company Gow Media.

Established in 1999, CTV aims to champion "the innovation, commercialization and integration of emerging technologies into Chevron," reads the Chevron website. The team seeks to identify and invest in technologies or processes that could enhance and optimize core aspects of Chevron's operations. The technologies of interest to CTV are, according to the website: Water management, production enhancement, emerging materials, power systems, information technology, and subsurface and base business.

The Cannon's commitment to helping startups find access to venture has been an ongoing goal since May of last year when The Cannon launched Cannon Ventures — a venture studio and investor network. Cannon Ventures then teamed up with a few other venture funds in December to create the Houston Investment Network Alliance.

Peek inside what the new Cannon space will look like

Courtesy of The Cannon

Houston-based Abel Design Group and Burton Construction are responsible for the designs and execution of the building.

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Building Houston

 
 

Catch up on two big pieces of news landing at the Houston Spaceport. Image via fly2houston.com

The Space City is starting 2022 off strong with news launching out of the Houston Spaceport — a TK-acre space in TK Houston.

The two big headlines include a unicorn company releasing the latest details of its earthbound project and fresh funds from the state to support the space ecosystem in Texas.

Governor Abbott doles out $10M in spaceport grants

Texas has launched fresh funding into two spaceport projects. Image via fly2houston.com

Last week, Gov. Greg Abbott announced $10 million in funding to two Texas spaceports as a part of the state's Spaceport Trust Fund. The Houston Spaceport Development Corp. received $5 million and the Cameron County Spaceport Development Corp. received $5 million.

The fund is administered by the Governor's Office of Economic Development and Tourism and was created to support the development of spaceport infrastructure, create quality jobs, and attract continuing investments that will strengthen the economic future of the state, according to a news release.

"For decades, Texas has been a trailblazer in space technology and we are proud to help cultivate more innovation and development in this growing industry in Cameron and Harris County," says Abbott in the release. "This investment in the Cameron County and Houston Spaceport Development Corporations will create even more economic opportunities for Texans across the state and continue our legacy as a leader in space technology."

Axiom Space hires Dallas-based architecture and engineering firm

Axiom Space has made progress on developing its 14-acre headquarters. Image via axiomspace.com

Houston-based unicorn Axiom Space has announced that it awarded Dallas-based Jacobs the architecture and engineering phase one design contract. The firm will be working on the 100,000-square-foot facility planned for the 400-acre Houston Spaceport at Ellington Airport.

Axiom Space's plans are ro build the first commercial space station that will provide a central hub for research, to support microgravity experiments, manufacturing, and commerce in low Earth orbit missions, according to a news release.

"This is an exciting and historic moment for Axiom and the greater Houston area," says Axiom CTO Matt Ondler in the release. "For the first time, spacecraft will be built and outfitted right here in Houston, Texas. This facility will provide us with the infrastructure necessary to scale up operations and bring more aerospace jobs to the area. With this new facility, we are not only building next generation spacecraft, but also solidifying Houston as the U.S. commercial industry's gateway to space."

Axiom Space, which raised $130M in venture capital last year, is building out its 14-acre headquarters to accommodate the creation of more than 1,000 high-paying jobs, from engineers to scientists, mathematicians, and machinists.

"Houston is a city built on innovation and is becoming a next-generation tech hub in the United States," says Ron Williams, senior vice president at Jacobs. "Privately funded infrastructure will drive U.S. leadership in space. Jacobs is committed to providing integrated solutions to accelerate the future of commercial space operations."

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