Central Texas Global Business Pulse
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President Joe Biden's administration plans to unveil a new rule next month that will expand U.S. powers to stop exports of semiconductor manufacturing equipment from some foreign countries to Chinese chipmakers, two sources familiar with the rule said. But shipments from allies that export key chipmaking equipment - including Japan, the Netherlands and South Korea - will be excluded, limiting the impact of the rule, said the sources who were not authorized to speak to media and declined to be identified.
The Republican presidential nominee may still disdain electric vehicles but encourages their manufacturers to build plants in the United States. At a March rally in Ohio, Republican presidential candidate Donald Trump broke with party rhetoric on Chinese investment and welcomed carmakers from the country to build factories in the US. “If they want to build a plant in Michigan, in Ohio, in South Carolina, they can – using American workers, they can,” the former president said in Dayton. It’s an invitation he has since repeated, including at the Republican National Convention last month.
Electric vehicle manufacturer Tesla has leased a 180,000-square-foot, rail-serviced industrial space within the recently completed RCR Taylor Logistics Park. This latest addition to the Elon Musk-led company's Austin footprint is located just 30 miles away from the Giga Texas headquarters, and sandwiched between the new Hutto Megasite and Samsung semiconductor plant.
International
In cooperation with the World Meteorological Organization (WMO) and the International Renewable Energy Agency (IRENA), the National Center of Meteorology (NCM) in the UAE hosted a workshop in Abu Dhabi from July 22 to 24, 2024, as part of its efforts to address global climate challenges and green energy needs. The workshop attracted distinguished experts from around the world to begin negotiations on a global partnership to exchange information and services in the weather, water and climate domains, in order to advance clean energy transition, enhance the integration of meteorological services into the renewable energy sector, and support the ambitious global goals set by COP28.
China’s manufacturing capacity is helping the world fight climate change and contain inflation, said Vice Finance Minister Liao Min, pushing back against US Treasury Secretary Janet Yellen’s latest criticism of the nation’s industrial excess. “For decades, China has been a force of disinflation for the world through its supply of manufactured products with good value for money,” Liao said in an exclusive interview in Rio de Janeiro, where he attended this week’s meeting of G-20 finance ministers and central bank governors.
The governor of the Mexican state of San Luis Potosi came to the Rio Grande Valley on Wednesday to support the expansion of an international bridge for truck traffic that he says his state needs to connect with South Texas. San Luis Potosi Gov. Ricardo Gallardo Cardenas says his state is one of Mexico’s biggest producers of auto parts and once the expansion of the Anzalduas International Bridge is complete, he hopes to be able to send many trucks full of auto parts to the United States through this bridge that connects Mission, Texas, to Reynosa, Mexico.“It’s a grand project they are building,” Gallardo told media in Spanish on Wednesday after meeting privately with Mexican and local leaders to get a status update on construction.
Portugal is looking to support at least 500MW of energy storage capacity by the end of 2025 via grant support. The country’s Ministry of Environment and Energy has launched a competition for €99.75 million (US$107 million) for grid-scale energy storage projects at the transmission and distributed-scale. The government said that competition has been launched in light of the the need to optimise and manage the electricity grid in Portugal in a more flexible way. Power generation capacity is around 22GW. Grid-scale BESS projects have been relatively limited in Portugal to date, although utility Iberdrola did bring online a huge, 40GWh pumped hydro energy storage(PHES) project there in 2022.
USA
The law passed in 2022 has acted as a powerful incentive for European companies from the sector to expand or establish their U.S. presence, but a spectre of a second Trump presidency is giving them a pause. "With a Donald Trump who A) is very opportunistic, B) is also very polemic and C) is also fairly unpredictable, you have to ask yourself whether it makes sense to make such a bet," Peter Roessner, chief executive of Luxembourg-based hydrogen firm H2Apex, told Reuters.
Minnesota utility regulators Thursday approved CenterPoint Energy’s ambitious $106 million plan for a host of clean energy pilot projects, including renewable natural gas and geothermal heating. CenterPoint says the five-year program will cost its average residential ratepayer about $1.50 a month. CenterPoint, Minnesota’s largest gas provider with more than 920,000 customers, submitted a proposal under the new law in 2023 and Thursday it was accepted by the Minnesota Public Utilities Commission (PUC).
Companies have invested more than $100 billion in U.S. electric vehicle and battery manufacturing since the Inflation Reduction Act was passed two years ago. A long list of components go into those EVs and batteries — and the more of them that can be produced in the U.S., the better. The Biden administration offered a conditional $1.2 billion loan to Entek Lithium Separators, a division of U.S.-based manufacturer Entek, which makes one of those essential battery components. Entek plans to use the loan to back the financing of a $1.5 billion separator factory it’s building in Terre Haute, Indiana.
The US aims to revitalize its domestic semiconductor manufacturing industry, but will there be enough skilled workers to meet the ambitious goals? This column presents evidence, based on a global dataset of 1.6 million employees with chip manufacturing skills, that US protectionist policies – increased tariffs and visa restrictions – implemented since 2018 may have undermined the very workforce the industry needs to thrive.
Texas
Officials said Tuesday that Meta has agreed to a $1.4 billion settlement with Texas in a privacy lawsuit over allegations that the tech giant used users' biometric data without their permission. Texas Attorney General Ken Paxton said the settlement is the largest secured by a single state. In 2021, a judge approved a $650 million settlement with the company, formerly known as Facebook, over similar allegations of users in Illinois.“This historic settlement demonstrates our commitment to standing up to the world’s biggest technology companies and holding them accountable for breaking the law and violating Texans’ privacy rights,” Paxton, a Republican, said in a statement.
The McGregor City Council has approved a resolution to transfer the acreage to EFC Gases & Advanced Materials, with Mayor Jim Lilley authorizing the sale and execution of all necessary closing documents. McLennan County is also providing significant financial support to facilitate the development. The Chamber says EFC’s decision to invest in Texas aligns with the state’s semiconductor industry and business climate. Since the enactment of the Chips and Science Act in 2020, more than $88 billion earmarked for Texas, according to the Semiconductor Industry Association (SIA). This growth underscores the demand for the high-quality materials and gases which EFC is positioned to provide.
Austin
A key South Korean supplier to Samsung Electronics Co. Ltd. has moved a step closer to building a $575 million phosphoric acid plant on 85 acres it purchased at the RCR Taylor Logistics Park last year. Soulbrain Holdings Co. Ltd. won approval on July 25 for incentives from the Taylor City Council. The company previously received approval for incentives by the Taylor Economic Development Corp.
A Virginia-based global data center operator is considering Bastrop County east of Austin for a $1.4 billion data center campus. EdgeConneX Inc. — a subsidiary of Swedish global investment firm EQT AB — on July 26 was approved by the Bastrop County Commissioners Court for a tax increment reinvestment zone to allow for a property tax abatement. The project is tied to two parcels totaling about 112 acres at the northeast corner of Farm to Market Road 535 and Wolf Lane in Cedar Creek.
While Tesla Cybertrucks that are being delivered to customers today are equipped with 4680 cells, the batteries themselves are only partially complete, as per a report from Chinese publication LatePost. The publication noted that Tesla’s 4680 cells that are used in production Cybertruck units are equipped with a negative cathode that is produced using Tesla’s dry electrode process and a positive cathode that is purchased from a supplier. This results in the positive cathode being produced using conventional wet electrode processes.
Events
Austin Big Business, Tech & Entrepreneur Professional Networking Soiree
August 19th, 2024
6PM-8:30PM
Calling All: Tech Startups ! Entrepreneurs ! Business Owners ! Professionals ! Free-lancers, policy-makers, game-changers, and heroes! Starting 2024 with Austin’s Best Professional Networking Affair.
Please join us for an evening of creativity, inspiration and passionate conversations. Join & raise a glass – make connections with co-founders, partners, coaches or core team members for your start-up- meet fellow professionals and mingle with makers of great and big ideas – take home treats from growing community and some business cards.
Hosted By – Austin’s Entrepreneurs, Startup & Business Coalition.
10300 Springdale Road Austin, TX 78754
Austin Small Business Expo 2024
November 14th, 2024
10AM-5PM
Austin Small Business Expo is a fantastic opportunity for small businesses to showcase their products and services, connect with potential customers, and network with like-minded entrepreneurs.
At the Expo, you’ll find a vibrant atmosphere buzzing with innovation and creativity. Discover the latest trends and technologies that can help your business thrive in today’s competitive market. Engage in insightful discussions, attend informative workshops, and gain valuable insights from industry experts.
Whether you’re a startup looking for guidance or an established business seeking growth opportunities, the Expo is the perfect platform to learn, collaborate, and expand your network. Connect with exhibitors from various industries, explore new partnerships, and build lasting relationships that can take your business to new heights.
Don’t miss out on this exciting event! Mark your calendars for November 14, 2024 and join us at the Palmer Events Center for the Austin Small Business Expo 2024. We look forward to seeing you there!
900 Barton Springs Road Austin, TX 78704
