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Baker Hughes unveils new HQ in Houston's Energy Corridor

Baker Hughes has officially moved into its new headquarters in Houston. Photo via bakerhughes.com

Houston-based Baker Hughes officially opened the doors to its new headquarters in the Energy Corridor last week.

At a celebration held Oct. 23, the energy service company unveiled its new space within Energy Center II at 575 N. Dairy Ashford. The move represents a consolidation of Baker Hughes' various offices in the Houston-area as the company decreases its corporate footprint by about 346,000-square-feet, according to a report from the Houston Chronicle. 

It is moving from its former headquarters in North Houston, near IAH. About 1,300 employees will work from the building, according to a statement from Baker Hughes.

“The opening of our new Houston headquarters is an important moment in our strategic transformation as we continue to take energy forward,” Lorenzo Simonelli, Baker Hughes chairman and CEO, said in a statement. “Collaboration will be key to solving for the energy transition. We look forward to collaborating with our colleagues, partners, customers and new neighbors in the Energy Corridor to solve the Energy Trilemma.”

Additionally, the company reported that the new space will aim to help the company reduce costs, cut emissions, create more flexible workspaces and strengthen relationships within the Energy Corridor.

The new HQ includes features such as

  • Tech- and food-free quiet zones
  • Hybrid experience rooms for enhanced online meetings
  • About 25 open collaboration spaces
  • About 40 meeting rooms, including hybrid meeting rooms and a creative thinking room
  • About 12 community spaces
  • Nursing mothers suites
  • Prayer and meditation rooms

In other HQ news, ExxonMobil officially changed its headquarters to Houston over the summer. A July 5 filing with the United States Securities and Exchange Commission showed a significant step toward the HQ move that Exxon originally announced in early 2022.

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A View From HETI

Molecule has closed its latest investment round. Photo via Getty Images

Houston-based energy trading risk management (ETRM) software company Molecule has completed a successful series B round for an undisclosed amount, according to a July 16 release from the company.

The raise was led by Sundance Growth, a California-based software growth equity firm.

Sameer Soleja, founder and CEO of Molecule, said in the release that the funding will allow the company to "double down on product innovation, grow our team, and reach even more markets."

Molecule closed a $12 million Series A round in 2021, led by Houston-based Mercury Fund, and has since seen significant growth. The company, which was founded in 2012, has expanded its customer base across the U.S., U.K., Europe, Canada and South America, according to the release.

Additionally, it has launched two new modules of its software platform. Its Hive module, which debuted in 2022, enables clients to manage their energy portfolio and renewable credits together in one scalable platform. It also introduced Elektra, an add-on for the power market to its platform, which allows for complex power market trading.

"Four years ago, we committed to becoming the leading platform for energy trading," Soleja said in the release. "Today, our customers are managing complex power and renewable portfolios across multiple jurisdictions, all within Molecule.”

Molecule is also known for its data-as-a-lake platform, Bigbang, which enables energy ETRM and commodities trading and risk management (CTRM) customers to automatically import trade data from Molecule and then merge it with various sources to conduct queries and analysis.

“Molecule is doing something very few companies in energy tech have done: combining mission-critical depth with cloud-native, scalable technology,” Christian Stewart, Sundance Growth managing director, added in the statement. “Sameer and his team have built a platform that’s not only powerful, but user-friendly—a rare combination in enterprise software. We’re thrilled to partner with Molecule as they continue to grow and transform the energy trading and risk management market.”

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