Decarbonization tech co. Utility Global expands headquarters in Energy Corridor

 

A Houston-based decarbonization technology company is expanding its footprint in The Reserve at Park Ten in the Energy Corridor to house more employees and serve as the company’s new headquarters.

Utility Global recently opened its new office space at 15721 Park Row, which will house 15-20 employees by the end of the year. Previously, the company was headquartered at 15330 Park Row, but the move doubles the company’s total Texas office space and frees up existing space to expand Utility’s manufacturing capabilities, according to the company’s announcement. The Houston Business Journal has reached out for more information.

Utility’s primary products convert gases such as carbon dioxide and ammonia into hydrogen and other synthetic gases used to produce “green” chemicals and fuels. The company achieves this through its eXero technology, which eliminates the need for electricity that other methods of hydrogen production require, and targets the steel, chemicals, liquid fuels and mobility industries as sectors that are normally difficult to decarbonize.

“On the heels of completing our pilot test and announcing our installation of a field demonstration facility, our expansion in the Houston Energy Corridor was a logical step in our growth strategy,“ Utility CEO Claus Nussgruber said in the company’s announcement. “The area is rich with diverse talent and leading companies in the energy transition industry. We have the opportunity to further expand staffing and capabilities in our engineering, manufacturing and customer-focused departments, as well as increase our ability to service current and future markets.”

Utility completed the pilot test of its technology in February, following an August 2022 Series B funding round of $25 million. In August, the Houston Business Journal reported the company was planning to move into demonstrations related to industrial sectors like refining and petrochemicals.

Hydrogen production is seen as one way to smooth the transition from fossil fuels to renewable energy, and the federal government has incentivized the technology through legislation such as the 2023 Omnibus Appropriations Act, the 2022 Inflation Reduction Act and the 2021 Bipartisan Infrastructure Law. Nussgruber previously told the HBJ the IRA’s carbon tax credits are a ripe opportunity for Utility to open commercial relationships with companies looking to lower their carbon footprint.

Meanwhile, several Houston-area entities have mobilized to bid for a piece of $8 billion in funding from the Department of Energy to create a clean hydrogen hub. Two formal bids from the HyVelocity Hub, backed by the Center for Houston’s Future and several partners, and the LIGH2T Hub, with backing from Southern States Energy Corp. and the University of Houston, were submitted in early April.

A CHF report released in May 2022 also touted Houston’s natural and man-made advantages as reasons the Bayou City could be the epicenter of a clean hydrogen movement. Several clean technology leaders also suggested the government’s emphasis on hydrogen as one way for Houston to establish itself in the green tech sector.

For the complete article, please go to:
https://www.bizjournals.com/houston/news/2023/05/04/utility-global-headquarters-expansion.html