SwRI Hits Record $966M, Showcases Future of Space and Energy Tech

SAN ANTONIO, TX – February 16, 2026 – Southwest Research Institute (SwRI) underscored its pivotal role in global science and technology at its 78th Annual Meeting, announcing a record research volume of nearly $966 million for fiscal year 2025 while showcasing a portfolio of innovations spanning from the Sun’s corona to the nation’s critical infrastructure. The event also marked a strategic transition in governance, introducing new board leadership poised to guide the nonprofit research and development organization into its 79th year.

“Southwest Research Institute continues to solve some of humankind’s most difficult technical challenges,” President and CEO Adam Hamilton said during the meeting. “The breadth and depth of our staff, combined with the incredible research infrastructure on our campus, drives our long-term success as we move into our 79th year of operations.”

A New Era of Leadership and Record Growth

The meeting heralded a significant evolution in SwRI’s leadership, appointing Kim Lubel as the new Chair of the Board of Directors and Phil Green as Vice Chair. Lubel, who has been affiliated with the institute since 2014, brings a wealth of executive experience, having formerly served as CEO, Chairman, and President of Fortune 250 company CST Brands, Inc. Her extensive background also includes over 15 years at Valero Energy Corporation, where she was Executive Vice President and General Counsel. Lubel's leadership is complemented by her service on several corporate and nonprofit boards, and she was twice named to Fortune's "50 Most Powerful Women" list.

“It has been an honor to be affiliated with SwRI since 2014, and I am thrilled to serve as the Chair of the Board of Directors for this esteemed organization,” Lubel stated. “Having served as an Advisory Trustee and Board Director, I have watched the Institute brilliantly carry out its mission of benefitting industry and the public through innovative science and technology. This is an exciting time to be part of such a phenomenal organization.”

Joining her in leadership is Phil Green, the Chairman and CEO of Cullen/Frost Bankers, Inc., and Frost Bank. Green has had a distinguished 40-year career at the financial institution, rising from his start in 1980 to the company's top post in 2016. His deep roots in the San Antonio business and civic community, including past chairmanship of the Greater San Antonio Chamber of Commerce, position him to further strengthen SwRI’s regional ties.

The institute also welcomed four new Advisory Trustees: Eric Brey, Ph.D., Dean of the Klesse College of Engineering and Integrated Design at UTSA; Francisco Cigarroa, M.D., a senior executive at UT Health San Antonio; Archie Holmes Jr., Ph.D., executive vice chancellor for The University of Texas System; and Lorie Logan, President and CEO of the Federal Reserve Bank of Dallas. These appointments bring diverse, high-level expertise from academia, healthcare, and finance to SwRI's strategic governance.

This leadership transition is backdropped by remarkable financial performance. The reported research volume of nearly $966 million for FY2025 continues a powerful upward trend, surpassing the ~$915 million from FY2024 and the ~$844 million from FY2023. This sustained growth demonstrates strong and increasing demand for SwRI's applied R&D services from both government and commercial clients.

From Deep Space to Deep Seas: A Showcase of Innovation

Presentations at the annual meeting offered a glimpse into the cutting-edge work that fuels this financial growth. SwRI scientists and engineers are tackling challenges across multiple frontiers, reaffirming the institute's role as a hub of multidisciplinary problem-solving.

In space science, SwRI continues to play a leading role in major national missions. The institute leads the NASA Polarimeter to Unify the Corona and Heliosphere (PUNCH) mission, which is designed to provide a deeper understanding of the solar wind and the massive solar events that can impact Earth. Further out in the cosmos, SwRI researchers are leveraging the powerful James Webb Space Telescope to analyze the chemical composition of small bodies in the outer solar system, providing clues to its formation and evolution. This work builds on a long legacy of space involvement, including developing instruments to measure the ice shell of Jupiter's moon Europa for NASA’s Juno mission and a recent $54 million contract to build a new generation of weather satellites for NOAA.

Closer to home, SwRI is pioneering advancements in robotics for both maritime and space applications. The development of autonomous systems for these complex and often hazardous environments promises to enhance efficiency and safety in exploration and industrial operations. On the ground, engineers are addressing the ballooning energy demands of data centers—a critical infrastructure challenge for the digital age. The institute also highlighted the establishment of a new Machinery Innovation Center for High-Energy Fluids, created to improve the performance and safety of machinery in the energy and manufacturing sectors.

To ensure safety in the skies, an SwRI analyst detailed the capabilities of DARWIN®, a proprietary software tool. This probabilistic damage tolerance software is used to certify the safety and reliability of aircraft components by predicting the likelihood of structural failures, a critical tool for the aviation industry.

Fueling National Initiatives and a Local Economic Engine

Beyond the lab, SwRI’s work has a profound impact on both national priorities and its home city of San Antonio. The institute's research portfolio is closely aligned with key U.S. goals in space exploration, energy resilience, and advanced manufacturing. Projects like the PUNCH mission and its contributions to the James Webb Space Telescope directly support America’s leadership in space, while its focus on data center efficiency and hydrogen combustion engine development contributes to a more secure and sustainable energy future.

Locally, SwRI stands as a cornerstone of the San Antonio economy. With a research volume approaching one billion dollars, the institute is a major regional employer, providing high-skilled jobs and attracting top scientific and engineering talent to the area. This influx of capital and expertise fosters a vibrant innovation ecosystem, stimulating economic activity that extends to local procurement, construction, and service industries. The deep community involvement of its board members, including Lubel and Green, further cements the institute's role as an integrated and committed corporate citizen.

The 78th Annual Meeting was more than a summary of past achievements; it was a clear statement of intent. By combining robust financial health, strategic leadership, and a relentless drive for innovation, Southwest Research Institute is positioned not only to grow but to continue delivering scientific and technological solutions that shape our world.