Energy giant Shell lists Houston HQ for sale for $325 million

asset offload

Shell's Woodcreek campus is home to about 67,000 workers. Photo courtesy HOK

Energy giant Shell has put its U.S. headquarters in Houston’s Energy Corridor on the market and is exploring the sale of its U.S. chemical business.

Green Street News reported Shell just listed its longtime Energy Corridor campus at 150 N. Dairy Ashford Road. The asking price is $325 million, The Real Deal reported. Shell plans to lease back half of the nearly 1.5 million-square-foot Woodcreek campus for 15 years.

A sale-leaseback deal could transform the 43.6-acre campus into a multitenant hub, CoStar News reported.

“Houston is a critical hub for Shell globally and the headquarters of our U.S. businesses,” a Shell spokesperson told the Houston Business Journal. “We remain committed to Houston and are evaluating opportunities to optimize our Woodcreek campus as part of our ongoing review of workplace needs while maintaining a strong presence in the city.”

Shell occupied its first building at the West Houston campus in 1980. The company employs more than 6,000 people in Texas.

Shell is one of the highest-profile businesses occupying space in the Energy Corridor. It’s home to 67,000 workers, more than 27 million square feet of office and mixed-use space, and 3.8 million square feet of retail and restaurant space.

Shell considers $8B sale of chemical business

As the company seeks to unload its Woodcreek campus, The Financial Times reported Shell is looking into selling its U.S. chemical business. The price tag: $8 billion.

Potential buyers include Spring-based ExxonMobil and Houston-based LyondellBasell.

Shell operates four chemical plants in Texas, Louisiana and Pennsylvania, producing an array of chemicals for use in plastics, detergents and pharmaceuticals.

Shell CEO Wael Sawan said last year that the company had spent $45 billion in capital “that is underperforming for us,” split between its chemical business and renewable energy arm.

Shell also agreed to sell its solar and wind power business in India this summer. Read more here.

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Alléo Energy is moving its headquarters to The Ion District. Photo courtesy of The Ion

Alabama-based renewable fuels company to move HQ to Houston

welcome to houston

An Alabama-based clean tech company is moving its headquarters to Houston.

Alléo Energy announced that it will move its headquarters from Bay Minette, Alabama, to Houston's Ion District. The company develops carbon-negative fuels and renewable commodities through its conversion technology that turns wood waste and cellulosic feedstocks into high-energy, high-yield syngas.

The news comes after Alléo announced the appointment of Benjamin Cowart as its new CEO. Cowart will succeed Alléo founder Simeon Chow, who will serve as president.

“Ben doesn’t need to be sold on carbon-negative fuels; he’s already building in this exact space, and he’s thrived through some of the hardest conditions the industry has faced,” Chow said in a news release. “He knows how to scale and he knows the capital markets that finance them; he turns the hurdles that stall other companies into momentum. Bringing a leader of his caliber in as CEO is a defining, energizing moment.”

Cowart previously founded Houston-based renewables Vertex Energy Inc. The company went public on the Nasdaq exchange in 2009 through a reverse merger. He served as chairman and CEO of the company, which was later taken private by a consortium led by BlackRock.

Cowart also founded EVH Corp., a venture platform focused on building in hydrogen, methanol, sustainable aviation fuel (SAF), and low-carbon marine fuels.

“I’ve spent my career turning advanced process technology into high-performing enterprises that deliver both economic and environmental returns in an industry defined by headwinds,” Cowart added in the release. “The winners in energy transition aren’t the ones with the best headline; they’re the ones that keep their economics intact when subsidies move, feedstock prices swing, and capital gets expensive. Alléo is well-built for that. I’ve rarely seen a technology company this well positioned for what the market is demanding. The science is proven; now it’s about disciplined execution, financing, and building more plants. This is the work I love most.”

Alléo plans to scale its proprietary conversion technology. The company commissioned the first phase of its Alabama facility in 2023, which produced renewable diesel made entirely from wood waste, which could be converted to SAF.

The company says that it has $50 million invested in initial research and development, and that additional facilities are in the planning stages.

ExxonMobil will make Texas its legal home next month. Photo via ExxonMobil.com

ExxonMobil announces date to move legal headquarters to Texas

save the date

Energy giant Exxon Mobil Corp. has set a date to move its legal headquarters to Texas.

The Spring-based company announced this week that the redomiciliation from New Jersey to Texas is expected to be effective July 1. Exxon's board of directors unanimously recommended redomiciling in the Lone Star State in March, and shareholders approved the move to Texas at the company’s annual meeting in May.

As part of the move, ExxonMobil Holdings Corp. will replace Exxon Mobil Corp. of New Jersey and become the publicly traded parent company. Exxon reports that its shares will continue to trade on the New York Stock Exchange under the ticker symbol “XOM,” and that shareholders do not need to take action.

At the time of the recommendation, Exxon said the move would not affect business operations, management, strategy, assets or employee locations.

Exxon Chairman and CEO Darren Woods added that the redomiciliation was in part due to Texas' business-friendly environment and policies.

"Over the past several years, Texas has made a noticeable effort to embrace the business community. In doing so, it has created a policy and regulatory environment that can allow the company to maximize shareholder value,” Woods said in a news release. "Aligning our legal home with our operating home, in a state that understands our business and has a stake in the company’s success, is important.”

The Associated Press reports that about 30 percent of Exxon's employees work in Texas. Exxon's legal headquarters has been based in New Jersey since 1882, when it was Standard Oil Company.

Exxon moved its operational headquarters from Irving, Texas, to the Houston area in 2023.

Exxon was the highest-ranking Houston-area company on this year's Fortune 500 list, coming in at No. 9. Houston tied with Chicago for the second-most Fortune 500 headquarters on this year's list, with Texas leading the nation for the most Fortune 500 headquarters (57).

“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.”

Houston is tied with Chicago for the second-most Fortune 500 headquarters. Photo via Getty Images

Houston lands 27 Fortune 500 headquarters, led by energy heavyweights

HQ leader

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.

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.

AB Energy USA is moving into The Woodlands Towers at The Waterway. Photo courtesy AB Energy USA.

Italian clean energy co. selects The Woodlands for North American HQ

new HQ

An Italian renewable energy company has picked The Woodlands for its North American headquarters.

AB Energy USA will occupy about 11,000 square feet in The Woodlands Towers at The Waterway. The company expects to add about 45 jobs in The Woodlands this year. Beginning in 2027, AB Energy USA will add another 30 jobs over a five-year period.

The new headquarters will be the corporate and governance hub for all of AB Energy’s North American subsidiaries. AB Energy, an arm of Italy-based AB, supplies renewable natural gas systems for industrial, commercial and data center customers. AB has operated in the U.S. since 2014.

“Establishing our North American headquarters in the Energy Capital of the World is a strategic step in AB’s long-term commitment to the U.S. market,” Paolo Ruggeri, North American CEO for AB Energy USA, said in a news release. “Houston gives us access to world-class engineering and energy talent, and strengthens our ability to attract and grow a high-performing team.”

Jevon Gibb, CEO of The Woodlands Area Economic Development Partnership, said several markets competed for AB Energy’s North American headquarters.

“AB’s decision to establish its North American headquarters here demonstrates The Woodlands’ competitiveness for both international companies and energy sector leaders,” Gibb said.

TMEIC Corporation Americas has moved its U.S. headquarters to Houston. Photo via tmeic.com

Japanese energy tech manufacturer officially relocates U.S. HQ to Houston

new to hou

TMEIC Corporation Americas has officially relocated its headquarters from Roanoke, Virginia, to Houston.

TMEIC Corporation Americas, a group company of Japan-based TMEIC Corporation Japan, recently inaugurated its new space in the Energy Corridor, according to a news release from TMEIC. The new HQ occupies the 10th floor at 1080 Eldridge Parkway, according to ConnectCRE. The company first announced the move last summer.

TMEIC Corporation Americas specializes in photovoltaic inverters and energy storage systems. It employs approximately 500 people in the Houston area, and has plans to grow its workforce in the city in the coming year as part of its overall U.S. expansion.

"We are thrilled to be part of the vibrant Greater Houston community and look forward to expanding our business in North America's energy hub," Manmeet S. Bhatia, president and CEO of TMEIC Corporation Americas, said in the release.

The TMEIC group will maintain its office in Roanoke, which will focus on advanced automation systems, large AC motors and variable frequency drive systems for the industrial sector, according to the release.

TMEIC Corporation Americas also began operations at its new 144,000-square-foot, state-of-the-art facility in Brookshire, which is dedicated to manufacturing utility-scale PV inverters, earlier this year. The company also broke ground on its 267,000-square-foot manufacturing facility—its third in the U.S. and 13th globally—this spring, also in Waller County. It's scheduled for completion in May 2026.

"With the global momentum toward decarbonization, electrification, and domestic manufacturing resurgence, we are well-positioned for continued growth," Bhatia added in the release. "Together, we will continue to drive industry and uphold our legacy as a global leader in energy and industrial solutions."

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Fervo Energy strikes largest-ever power deal with Google

geothermal milestone

In its largest-ever purchase agreement, Houston-based geothermal company Fervo Energy will supply 396 megawatts of power to tech powerhouse Google.

The deal includes an option for Google to expand capacity by about 600 megawatts, for a total of 1 gigawatt, by June 2030, according to a news release from Fervo. Financial terms weren’t disclosed.

Google will purchase carbon-free energy from Fervo for a potential data center in Utah, where Fervo is building its more than $2 billion Cape Station geothermal project.

Fervo applies oil-and-gas fracking technology to create geothermal reservoirs and generate electricity.

The first phase of Cape Station is expected to begin delivering geothermal power by late 2026, reaching about 100 megawatts of capacity by early 2027. The second phase, set for completion in 2028, will add 400 megawatts of capacity.

Fervo co-founder and CEO Tim Latimer said in a release that the Google agreement supports enhanced geothermal systems as a key power source for “the next generation of computing infrastructure.”

“The next chapter of advanced power generation technology is being written in Utah,” said Lucia Tian, director of advanced energy technologies at Google.

The Fervo-Google agreement builds on an existing partnership. Fervo’s Project Red pilot development in Nevada, which came online in 2023, supplies power to the local grid. Users of the grid power include Google’s data centers in Nevada.

Fervo subsequently signed a 115-megawatt purchase agreement with Google and NV Energy. The deal enabled Google to bring more geothermal energy to the Nevada grid while insulating everyday customers from the project’s costs.

The latest Google deal is part of the ongoing expansion of Cape Station beyond its initial 100-megawatt phase. Fervo says Cape Station will be the world’s largest enhanced geothermal facility.

The Google agreement comes during a milestone year for Fervo, which was founded in 2017. In May, Fervo’s IPO raised $2.2 billion. The company, whose early investors include Bill Gates, is now valued at $5.65 billion.

8+ Houston energy events you must attend in September 2026

Must-attend meetings

Editor's note: September is here, and that means the return of some of Houston's biggest energy events of the year. On the agenda are exciting week-long energy and climate happenings, conferences, and more. Mark your calendars for these top Houston energy transition events taking place in September 2026, and register now.

September 13-18: Houston Energy & Climate Week

Houston Energy & Climate Week is a six-day gathering that welcomes an unparalleled selection of global energy leaders and communities to the energy capital of the world for a full slate of events, from tech tours and networking to a climatetech summit and digital symposium.

This event kicks off September 13 and continues for six days. Find details here.

September 14-18: Houston Energy + Climate Startup Week

Launched in 2024, the official Houston Energy and Climate Startup Week returns for its third year, showcasing how Houston is developing and scaling real solutions by meeting growing global energy demand while reducing carbon emissions. Join leading energy and climate venture capital investors, industry leaders, and startups from around the world for this showcase of the most innovative companies and technologies that are transforming the energy industry while driving a sustainable, low-carbon energy future.

This event kicks off September 14 and continues all week. Find details here.

September 16-17: Energy Tech Venture Forum

The Rice Alliance Energy Tech Venture Forum (ETVF) brings together the founders, investors, corporate leaders, and operators building the next generation of energy systems. ETVF is where breakthrough ideas meet the capital, partnerships, and industry expertise needed to accelerate commercialization and deployment. The 23rd Energy Tech Venture Forum will take place as an anchor event for Houston Energy + Climate Startup Week.

This event begins September 16 at Rice University. Early bird registration is available here.

September 20-23: 2026 Geothermal Rising Conference

Geothermal Rising Conference is the industry’s flagship annual conference, reflecting the global nature of the geothermal industry while highlighting the width and breadth of the community. The conference offers technical, policy, and market sessions, educational seminars, tours of geothermal and renewable energy projects, and numerous networking opportunities. An additional expo showcases projects, services, and state-of-the-art technology and equipment for the geothermal community.

This event begins September 20 at Marriott Marquis Houston. Register here.

September 22-23: 2026 API Offshore Safe Lifting Conference & Expo

The 2026 API Offshore Safe Lifting Conference & Expo is your opportunity to see the latest offshore developments while sharing experiences, practices, and even information on real-life incidents. The 2026 program features two full days of technical sessions, regulatory insights, and networking focused on advancing offshore lifting safety, with keynotes, emerging technologies, and multiple networking opportunities.

This event begins September 22 at the Royal Sonesta Houston Galleria. Register here.

September 22-24: Intelligent Asset Management in Energy Summit

The Intelligent Asset Management in Energy Summit is the premier North American event dedicated to helping energy leaders unlock the full potential of their assets through advanced analytics, predictive maintenance, and integrated digital strategies. The 2026 summit will cover how innovative asset management solutions can reduce downtime, optimize performance, and deliver measurable ROI in a rapidly evolving energy landscape.

This event begins September 22 at Norris Conference Center. Register here.

September 24: Grid Flexibility Summit

The executive-level event focuses on managing surging power loads, ERCOT market challenges, and grid modernization. Through candid discussions and real-world case studies, attendees will explore how grid flexibility can act as a reliability resource, how C&I customers can become active grid partners, and how a flexible grid buys time for the development of utility-scale projects. Designed as an intimate, decision-focused forum, the event prioritizes practical insights over theory — and action over aspiration.

This event takes place September 24 at Clifford Chance. Register here.

September 29-30: Gas to Grid Infrastructure Summit

The Gas to Grid Infrastructure Summit addresses the practical infrastructure challenge behind AI growth: how to deliver reliable, scalable, affordable, and lower-carbon power when grid capacity, gas supply, equipment lead times, and permitting timelines are all under pressure. This is where utilities, midstream operators, data center developers, OEMs, EPCs, investors, regulators, and technology providers meet to define the commercial, technical, and regulatory pathways for the next wave of gas-fired and grid-connected infrastructure.

This event begins September 29 at Norris Conference Center. Register here.

SLB to expand data center cooling business via $4 billion acquisition

cool deal

Houston’s SLB has announced plans to acquire German thermal management and heat exchange technology organization Kelvion for approximately $4 billion.

SLB reports in a news release that the acquisition is expected to boost its Data Center Solutions business, as thermal management technologies are key to cooling artificial-intelligence-related infrastructure. Data centers continue to pose numerous challenges, but SLB believes thermal management technology can help ease energy burdens.

“Data centers are becoming more sophisticated and energy-intensive, and customers are increasingly looking for partners that can optimize how critical systems work together across the facility and help bring new capacity online faster,” Gavin Rennick, president of SLB’s New Energy and Industrial business, said in the release. “Thermal management is central to that challenge, and this acquisition allows us to address it directly by delivering more integrated cooling solutions, accelerating innovation, optimizing thermal efficiency, and more directly embedding thermal management into our modular infrastructure offering.”

SLB will acquire Kelvion from funds managed by New York-based financial services group Apollo Global Management Inc. for approximately $3.4 billion in cash and will assume about $700 million of debt, according to the release. The deal is expected to close in Q1 of 2027.

SLB says the acquisition will help it dramatically scale revenue generated by the data center sector.

“This transaction accelerates our ambition to become an industrial technology partner to the data center industry and help customers address the growing infrastructure complexity required to scale AI,” Olivier Le Peuch, CEO of SLB, added in a news release. “Kelvion advances our path toward more integrated data center infrastructure solutions, expands our addressable market — more than doubling our revenue opportunity per gigawatt of delivered capacity — and allows us to scale both our offerings and the global reach of the business.”

SLB reports that it expects its Data Center Solutions business revenues to grow by more than 90 percent annually between 2024 and 2026.

If the acquisition is approved, the combined company will target revenue of $4.5 billion to $5 billion for its data center solutions business in 2028, according to the release.

Kelvion has previously served customers in AI infrastructure, energy system transformation and energy/ industrial markets. Its past work focuses on heat pumps, renewables, carbon capture and processing solutions for thermal management. According to the news release, Kelvion's data center revenue is expected to reach about $1.2 billion in 2026, and the sector is considered the company’s "largest and fastest-growing end market.

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