Sword of the Stars, is being developed by a small Canadian studio populated by veterans of the industry. From what I gather the game will have four races and 3D combat a la Homeworld. There are a few screenshots online as well as two trailers (the bigger one has only the setting for the game the second smaller one has some in game shots).
I read they are close to having an Alpha build which basically means this game is over a year away which is good as they will have plenty of time to up the production value of the game. Even Homeworld looked better.
Still I am going to keep an eye out on this one. It has been too long since a good 4X game has been released.
http://www.kerberos-productions.com/index.shtml