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Old 08-03-2021, 06:58 PM
 
15,444 posts, read 7,511,039 times
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Quote:
Originally Posted by ParaguaneroSwag View Post
It looks like Westlake Chemical has completely branched away from Petrochemicals and have done a complete shift into Construction Material. They join Crown Castle and KBR in former petroleum related F500 companies that went on complete flips. I expect more of these in the coming years.
Where are you seeing that? Their website tells me they still produce chemicals, but are using more of them to make final products like PVC pipe rather than selling the chemicals to others.
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Old 08-03-2021, 07:27 PM
 
Location: Houston/Austin, TX
9,907 posts, read 6,617,073 times
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Quote:
Originally Posted by WRM20 View Post
Where are you seeing that? Their website tells me they still produce chemicals, but are using more of them to make final products like PVC pipe rather than selling the chemicals to others.
They haven’t halted their chemicals arm, most of their growth has been in construction materials. And that’s what most of their recent acquisitions have been. Petrochemicals is still one of their primary products, but this percentage is shrinking, especially this year
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Old 08-04-2021, 03:34 PM
 
Location: Beautiful Northwest Houston
6,292 posts, read 7,507,052 times
Reputation: 5061
Whether it's named for the soil in the Houston area, or the Cajun dish , Data Gumbo is bringing blockchain technoloy to corporate contracts and bringing economic diversity to the Greater Houston economy.

Data Gumbo Joins The Open Group Open Footprint™ Forum

Leader in ESG Data Measurement Space to Support Sustainability Frameworks Technology Consortium Creating Collaborative Open Standards for Footprint-Related Data

April 06, 2021 08:00 AM Eastern Daylight Time

HOUSTON--(BUSINESS WIRE)--Today, Data Gumbo, provider of GumboNet™ – the massively interconnected industrial smart contract network secured and powered by blockchain – announced that it has joined The Open Group Open Footprint™ Forum, the vendor-neutral technology consortium. It will work alongside Forum Members, such as Shell, Microsoft Corporation, IBM, Amazon Web Services, Deloitte Consulting, LLP, among others, to create open standards for environmental footprint-related data, including emissions and consumptions across water, land and energy for industrial supply chains.

https://www.businesswire.com/news/ho...E2%84%A2-Forum

Blockchain tech co. Data Gumbo closes Series B at $7.7M, plans Middle East expansion

Houston-based Data Gumbo, a developer of a blockchain-powered industrial smart contract network, raised additional capital in its Series B round.

After raising $4 million last year, the company received an additional $3.7 million in Series B capital, closing the round at $7.7 million. The follow-on investment was led by Equinor Ventures, the corporate venture arm for Norwegian energy firm Equinor ASA (NYSE: EQNR). Saudi Aramco Energy Ventures, the venture capital fund for Saudi Aramco, and L37, a venture firm dual headquartered in the San Francisco Bay Area and Houston, also participated in the investment. To date, Data Gumbo has raised $18.4 million.

"The successful close of our series B is continued proof of the efficacy and booming interest in our ability to capture critical cost savings, deliver trust and provide transparency across commercial relationships," said Andrew Bruce, founder and CEO of Data Gumbo.

https://www.bizjournals.com/houston/...di-aramco.html
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Old 08-04-2021, 04:21 PM
 
Location: Unplugged from the matrix
4,754 posts, read 2,981,215 times
Reputation: 5126
So crazy seeing smart contracts mentioned in articles like that now. Back in 2017, smart contracts was a thing of the future. Then Chainlink happened.
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Old 08-04-2021, 06:28 PM
 
Location: Houston/Austin, TX
9,907 posts, read 6,617,073 times
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Quote:
Originally Posted by LocalPlanner View Post
Makes sense, I guess they are projecting minimal or no growth opportunities in the O&G or petrochemicals sector, not to mention the periodic devastating downturns. This kind of change is what we like to see that will help Houston (assuming this pivot is successful).


This helps explains CC’s business. They were originally a natural gas grid company.

This is part of what attracted NURO to set up in Houston since most places don’t have the 5G capability to support their automated cars.
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Old 08-06-2021, 11:35 AM
 
Location: Beautiful Northwest Houston
6,292 posts, read 7,507,052 times
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From Oil and Gas to Hemp and Grass ? West Houston Hemp processor is helping to relieve anxiety and increase Houston's economic diversity.!


By Chris Mathews - Reporter

August 06, 2021, 06:00am CD

In the Energy Corridor, a group of industry veterans moved from working in oil, gas and minerals to working with a different type of commodity: legal hemp

Ben Meggs and Jeromy Sherman are the co-founders behind Bayou City Hemp Co., which creates hemp-derived products at its 14,000-square-foot production and extraction facility in west Houston. Established in 2019, Bayou City Hemp makes a variety of different products from legal hemp, including CBD and other derivatives.

Meggs has a background in oil and gas land management. Sherman has experience with family-run businesses in minerals and farming management. Friends for more than a decade, the two saw opportunity in the expansion of legal hemp under the 2018 Farm Bill, federal action that allowed for Texas businesses to sell hemp and CBD products with less than 0.3% Delta-9 tetrahydrocannabinol, or THC, the psychoactive chemical compound in marijuana that gets the user "high".

The company employs a team of 20 at its multimillion-dollar west Houston facility, including a Ph.D. chemist, to produce regulation-grade hemp products made with CBD, Delta-8 or lesser known hemp derivatives, like Delta-10-THC and CBN. Bayou City Hemp uses supercritical carbon dioxide extraction technology to extract the CBD and other cannabinoids from the hemp. The firm plans to add more extractors in order to increase production in the future


Houston Inno - Bayou City Hemp takes tech-focused approach to hemp, CBD extraction (bizjournals.com)
Attached Thumbnails
Houston's economic diversity Thread ..-pxl20210729200002988_900xx4032-3024-0-0.jpg  
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Old 08-09-2021, 06:39 AM
 
Location: Beautiful Northwest Houston
6,292 posts, read 7,507,052 times
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DraftKings Reaches Agreement to Acquire Golden Nugget Online Gaming in an All-Stock Transaction

BOSTON and HOUSTON, Aug. 09, 2021 (GLOBE NEWSWIRE) -- DraftKings Inc. (Nasdaq: DKNG) and Golden Nugget Online Gaming, Inc. (Nasdaq: GNOG) today announced that they have entered into a definitive agreement for DraftKings to acquire Golden Nugget Online Gaming in an all-stock transaction that has an implied equity value of approximately $1.56 billion. The acquisition will enable DraftKings to leverage Golden Nugget’s well-known brand, iGaming product experience and existing combined database of more than 5 million customers. In connection with the acquisition, DraftKings has entered into a commercial agreement with Fertitta Entertainment, Inc., the parent company of the Houston Rockets, Golden Nugget, LLC and Landry’s LLC, and a leader in the gaming, restaurant, hospitality, and sports entertainment industry.

“This transaction will add great value to the shareholders as two market leaders merge into a leading global player in digital sports, entertainment and online gaming,” said Tilman Fertitta, Chairman and CEO of GNOG. “Leveraging Fertitta Entertainment’s broad entertainment offerings and extensive customer database, coupled with DraftKings’ mammoth network makes this an unbeatable partnership. Together, we can offer value to our combined customer base that is unparalleled. We believe that DraftKings is one of the leading players in this burgeoning space and couldn’t be more excited to lock arms with Jason and the DraftKings family across our entire portfolio of assets, including the Houston Rockets, the Golden Nugget casinos and Landry’s vast portfolio of restaurants. This is a strong commercial agreement for both companies.”

https://finance.yahoo.com/news/draft...114100949.html
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Old 08-10-2021, 11:46 PM
 
Location: Houston/Austin, TX
9,907 posts, read 6,617,073 times
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I slept on the DraftKings- GNOG deal for a minute to get a full understanding of what’s going on here. And what it means for Houston comes back to what it means to Fertitta.

This deal is all about synergy between the two companies. DraftKings was going to acquire a major online casino company of some sorts. Were it not Golden Nugget, they could’ve targeted Rush Street Interactive or BetMGM. And this is why Fertitta agreed to a somewhat low price in comparison to the company’s financials. Were DraftKings to acquire RSI or BetMGM, then they would’ve monopolized the industry and GNOG would be dealing with a giant trying to run them out of business. Now, GNOG is part of the giant that will look to run the other competitors out.

How DraftKings benefits

1. GNOG has already has market access (an extremely valuable asset in this industry) in most places where online gambling is legal (NJ, Nevada, Colorado, Louisiana, etc). This puts them in position to be able to get started in these markets

2. Selling DraftKings as a casino brand hasn’t caught on. People see it as a sports betting site. Golden Nugget as a brand sells itself better as a casino and DraftKings can use this branding power to their benefit.

3. With the National restaurant portfolio of Fertitta Ent/Landry’s (separate from GNOG but affiliated), they have real time points systems that can integrate into DraftKings overall now.

How the deal benefits Fertitta Ent

1. DraftKings is a rich, experienced tech company. They can maximize Golden Nugget’s technology side and leave this to the experts.

2. The traffic being created in Fertitta’s restaurants, hotels, and casinos will get a push from DraftKings users via reward systems, free publicity, etc.

3. Fertitta is still an outstanding shareholder of DraftKings since this is an all-stock deal. so Fertitta is invested in the now monopolized online casino company (which is a growing industry).

Conclusion

At the end of the day, DraftKings focuses on the online gambling, Fertitta Entertainment focuses on the hospitality and dining and their GNOG “link” makes these separate businesses benefit from one another, as both businesses are invested in each other.

This is the first time in a while I see a synergetic merger in contract to the vast majority of take over/monopolization attempts.
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Old 08-11-2021, 12:52 PM
 
Location: Houston/Austin, TX
9,907 posts, read 6,617,073 times
Reputation: 6430
Big move!

Honeywell is expanding in Houston again. Moving some more of their divisions. Their Technologies and Materials divisions will move their headquarters to Houston in West Chase.

https://www.bizjournals.com/houston/...t-hq-move.html
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Old 08-11-2021, 02:52 PM
 
Location: Beautiful Northwest Houston
6,292 posts, read 7,507,052 times
Reputation: 5061
Quote:
Originally Posted by ParaguaneroSwag View Post
Big move!

Honeywell is expanding in Houston again. Moving some more of their divisions. Their Technologies and Materials divisions will move their headquarters to Houston in West Chase.

https://www.bizjournals.com/houston/...t-hq-move.html
According to the article this will bring the total headcount for Honeywell's Westchase campus to 850. Thats some real economic diversity. Good find
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