At-a-Glance:
Cleantech startup incubator Greentown Labs officially opened its Houston facility in April, marking Earth Day and the one-year anniversary of the city unveiling its first Climate Action Plan. The 40,000-square-foot space has room for 50 startups with more than 300 employees working in clean technology. To learn more, read “Cleantech incubator part of Houston’s goal to be ‘energy transition capital’.”
Key Takeaways:
- City officials said at a press conference that 30 early-stage companies are ready to move in.
- Greentown, which is headquartered in Somerville, Massachusetts, already has a slew of partners for the incubator, including various energy and oil companies with significant operations in the Houston area.
- Greentown CEO Emily Reichert said she hopes the new location can be an “on-the-ground catalyst for accelerating the energy transition” by encouraging new jobs, economic opportunity and Texas’ growing innovation ecosystem.
- Houston’s ambitious Climate Action Plan calls for the city to be carbon neutral by 2050.
Path to 100% Perspective:
According to the Greater Houston Partnership, Houston is the energy capital of the world with more than 4,600 energy-related firms in this Lone Star State metropolitan hub. Texas stands out both as a primary generator and significant user of U.S. energy. Approximately 10% of US electricity demand comes from Texas. Texas is the national leader in the US wind energy industry with 30 GW of installed wind. It ranks first in the country for installed and under construction wind capacity, supporting 25,000 wind-related jobs. Modelling indicates the potential for the state to spearhead the country’s renewable energy transition can be seen as follows:
- 10 GW of new renewable energy generation capacity, including solar and wind by 2025
- 54,000 new clean energy jobs, 175% more than if the same stimulus was used to revive the legacy energy sector12
- 15% reduction in power sector CO2 emissions
Photo by Carlos Alfonso on Unsplash