Members advanced major projects and milestones across energy, finance, real estate, education, healthcare, innovation and transportation over the past month. Highlights include Eli Lilly’s $6.5 billion manufacturing campus, Baker Hughes’ $13.6 billion acquisition of Chart Industries, major infrastructure funding for Houston’s airports, and new investments strengthening regional economic growth.
Business Moves
Growth, Investment & Expansion
Eli Lilly and Company
Eli Lilly is advancing its $6.5 billion pharmaceutical manufacturing campus in Generation Park, with early filings outlining five initial buildings totaling nearly 700,000 square feet and an estimated $378 million in construction costs. The project is expected to support production of medicines for cardiometabolic conditions, cancer, immune disorders and neurological diseases.
First Reserve
First Reserve sells Houston-based Dresser Utility Solutions to Blackstone Energy Transition Partners. Dresser, founded in 1880, provides metering technology, digital instrumentation, pressure and flow control solutions, and infrastructure repair products for gas and water utilities. The deal reflects continued investment in companies modernizing aging utility infrastructure.
Huntington Bank
Huntington National Bank plans to invest in hiring and additional branches in the Houston market following its completed systems conversion with Cadence Bank. The expansion comes after Huntington’s $7.4 billion acquisition of Cadence, which gave the Ohio-based bank a stronger foothold in high-growth Southern markets including Houston.
NASA
NASA is partnering with the Small Business Administration to help funnel more investment capital into space industry supply chains through the Small Business Investment Company program. The effort builds on the SBIC program’s record $53 billion in combined capital last year and aims to expand financing access for companies supporting the growing commercial space economy.
Real Estate, Development & Hospitality
H-E-B and The Signorelli Co.
H-E-B will anchor The Signorelli Co.’s Commerce District at Valley Ranch, a 55-acre mixed-use destination in New Caney. The 120,000-square-foot store is expected to open in fall 2027, bringing a major grocery destination to the growing Valley Ranch community. The project will also include 400,000 square feet of commercial space and a 600-unit multifamily community.
Hines
Hines plans to develop a two-building industrial project next to William P. Hobby Airport, adding new logistics and warehouse space in one of Houston’s key transportation corridors. The project reflects continued demand for well-located industrial real estate near major air, highway and distribution infrastructure.
The Post Oak Hotel at Uptown Houston
The Post Oak Hotel was among six Houston properties recognized in Travel + Leisure’s 2026 World’s Best Awards, highlighting the city’s growing strength as a luxury hospitality destination. The recognition adds to Post Oak’s recent accolades, including being named the No. 1 hotel in Texas by U.S. News & World Report and earning a Forbes Travel Guide five-star rating.
Mergers & Acquisitions
Baker Hughes
Baker Hughes completes its $13.6 billion acquisition of Chart Industries, expanding its industrial energy technology portfolio across LNG, gas infrastructure, data centers, carbon capture, nuclear, space and geothermal markets. Chart will become Baker Hughes’ third operating segment, with the company expecting $325 million in annualized cost synergies within three years.
Shell
Shell Offshore agreed to sell select deepwater Gulf assets to Talos Energy and Ridgewood Energy for $1.7 billion, including its 50% non-operated interest in the Na Kika platform and its full ownership of the Coulomb tieback. Shell states the sale is part of its strategy to sharpen its upstream portfolio while continuing to focus on high-value Gulf production.
Stellar Bank
Stellar Bank has officially merged with Prosperity Bank following Prosperity Bancshares’ approximately $2 billion acquisition of Stellar Bancorp. The deal expands the reach and resources available to Stellar customers while bringing the Houston-based bank into one of the largest Texas-headquartered banking networks. Stellar’s full operational conversion to Prosperity Bank is expected in March 2027.
Awards & Recognition
Walter P Moore, Bracewell, Empower Pharmacy, PGAL, The Signorelli Co. Weaver, and WGA
Bracewell, Empower Pharmacy, PGAL, The Signorelli Co., Walter P Moore, Weaver, and WGA were named finalists for the Houston Business Journal’s 2026 Fastest Growing Companies Awards, which recognize Houston-area companies demonstrating strong growth and business momentum. The rankings will be revealed at HBJ’s Sept. 15 awards luncheon, celebrating the leadership, innovation and entrepreneurial spirit driving Houston’s fastest-growing businesses.
Education
Houston ISD
Houston ISD is moving forward with plans for the $100 million Southside Launchpad Career & Innovation Center, a 215,000-square-foot career and technical education hub at 9220 Jutland Road. The facility will include classrooms, labs and support spaces for 11 programs of study, expanding student access to hands-on training in high-demand fields such as biotechnology, construction management and cybersecurity.
Texas Southern University
Texas Southern University unveiled a $1.7 billion campus master plan outlining more than 20 phased projects over the next decade. The plan supports student housing, research facilities, athletics, infrastructure and academic spaces as TSU advances its Ascend 2030 strategy and prepares for its centennial. Three projects are expected to begin construction this year.
Rice University
Rice University opens Virani Hall, a new 112,000-square-foot home for the Jones Graduate School of Business. The building adds classrooms, flexible learning spaces, conference rooms and gathering areas designed to support collaboration, entrepreneurship and executive education.
University of Houston
The University of Houston launched UH Health, a new interdisciplinary hub uniting its medical, nursing, pharmacy, optometry, psychology and social work programs under one health enterprise. The initiative is designed to strengthen collaboration across teaching, research and care, help address health care workforce shortages and position UH to compete for more research funding in areas such as brain health, cancer and infectious disease.
Energy
Chevron
Chevron signed agreements with Iraq to advance negotiations on the West Qurna 2 and Nassiriya oilfields and explore a potential cross-border oil pipeline through Syria and Turkey. The deal could help Iraq expand production while creating an alternative export route that reduces reliance on the Strait of Hormuz.
Chevron and Microsoft
Chevron and Microsoft are part of Joulent’s flagship Project Kilby, a West Texas power project designed to deliver 2.67 gigawatts of electricity to a Microsoft-operated data center campus. Co-owned with Chevron, the project reflects growing demand for reliable, dedicated power to support AI and large-scale data centers, with operations expected to begin in 2028.
Halliburton
Halliburton was awarded a contract by Basra Oil Company to provide integrated field management and engineering, procurement and construction management services for the Bin Umar and Sindbad oil and gas fields in southern Iraq. The agreement supports Iraq’s efforts to boost production and associated gas development while broader U.S.-Iraq energy deals seek alternative export routes that reduce reliance on the Strait of Hormuz.
Healthcare
Texas Medical Center
Texas Medical Center launched its Korea BioBridge Residency Program, bringing Korean health care and life sciences startups to Houston for a four-week accelerator experience. The program connects participating companies with TMC’s innovation ecosystem, mentors, investors and clinical partners.
University of Houston
University of Houston researchers received a $4 million National Institutes of Health grant to study a new approach to treating autoimmune diseases. The project focuses on better understanding immune system regulation and developing therapies that could improve outcomes for patients with chronic inflammatory conditions.
Texas A&M University
Texas A&M University researchers identified a gut-derived chemical, sodium butyrate, that could help prevent seizures after traumatic brain injuries. The study found early treatment reduced brain inflammation, improved memory and mood, and made post-traumatic seizures rarer and harder to trigger. The findings point to a potential new pathway for treating epilepsy before it develops.
Innovation
Baker Hughes and SLB
Baker Hughes and SLB are expanding into data center power as AI-driven electricity demand accelerates worldwide. SLB announced a strategic alliance with Liberty Energy to deliver modular infrastructure and integrated power generation for new data center projects, while Baker Hughes is also pursuing large-scale power solutions for the sector.
Intuitive Machines and NASA
Intuitive Machines secured a $148 million NASA contract tied to future moon base missions, continuing the Houston company’s role in delivering landers and payloads to the lunar surface. The award comes as NASA advances plans for a sustained lunar presence and reinforces Houston’s growing position in the commercial space economy.
Mercury Fund
Houston-based Mercury Fund led Venus Aerospace’s $91 million Series B financing round to help scale its high-thrust rotating detonation rocket engine technology. The funding will support development and production of Venus’ propulsion systems for defense and space applications.
University of Houston
University of Houston engineers developed a semiconductor cooling method that releases heat three times more efficiently, a potential breakthrough for AI data centers. The research uses AI-designed, tree-like structures inspired by nature to reduce energy and water use as data center demand grows across Texas.
Transportation
George Bush Intercontinental Airport and William P. Hobby Airport
George Bush Intercontinental Airport and William P. Hobby Airport received more than $126 million in federal grants for major infrastructure improvements. Funding will support Skyway upgrades, airfield drainage and Terminal D HVAC efficiencies at IAH, while more than $62 million will go toward rehabilitating Hobby’s Runway 13R-31L.
United Airlines
United Airlines will launch year-round nonstop service from Houston’s George Bush Intercontinental Airport to Cartagena, Colombia, beginning Dec. 17. The route will operate four times weekly and marks United’s first nonstop service to Colombia’s Caribbean coast. The expansion strengthens IAH’s role as a gateway to Latin America and adds to United’s growing international network from Houston.
Walmart
Walmart and Wing added eight Houston-area drone delivery hubs, expanding their local network to 13 locations and making the service available to more than 1 million residents. Customers in eligible areas can order through Walmart or Wing, with most deliveries arriving in minutes.
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