Central Texas Global Business Pulse
Quick Read
3 Stories that are must read
"We're thrilled to strengthen our commitment to Texas. Expanding our cloud and data center infrastructure in Midlothian and Red Oak reflects our confidence in the state's ability to lead in the digital economy,” Yolande Piazza, vice president of financial services at Google Cloud, said in a statement. "Together with Texas's talent and vibrant customer base, we’ll meet growing demand for Google Cloud and AI to help shape the future of technology."
A Chinese solar panel maker has secured $235 million in financing for a massive factory planned in southern Dallas County. The six-year loan will help fund the development, construction and operation of Trina Solar’s 1.35 million-square-foot facility in Wilmer, about 17 miles south of downtown Dallas. The plant, which the company expects to complete this year, will be at Tradepoint 45 West on North Sunrise Road. Construction began in fall 2023. It’s expected to create 1,300 local jobs once fully operational.
With the Austin metro a hotbed of high-tech innovation, the federal government recently awarded Austin Community College and the University of Texas a combined $12.5 million to advance some key industries. ACC has received $7.5 million from the U.S. Department of Defense to beef up its semiconductor manufacturing training program. UT is getting nearly $5 million from the U.S. Department of Energy's Office of Fossil Energy and Carbon Management to help develop commercial-scale storage and transportation systems for industrial carbon emissions.
News & Updates
The Austin business & community leaders welcomed the new Mexican Consul General, The Honorable Humberto Hernández Haddad and emphasized the importance of the Texas-Mexico market conglomeration and the future of this partnership.
News & Updates
International
China is rushing to build battery-storage systems to allow electricity grids to cope with rapid increases in intermittent power generation from wind and solar farms.China’s new-energy storage capacity, a segment dominated by lithium-ion batteries, jumped to 44 gigawatts at the end of June, a 40% increase from the start of the year, according to National Energy Administration (NEA) data. That’s already surpassed the nation’s 2025 target and helped fuel a global boom, with energy storage overtaking electric vehicles last year as the fastest growing market for batteries.
The plant in Kulim will be the world's biggest factory for silicon carbide (SiC) once it reaches full capacity over next five years, the company said. Infineon is eyeing demand from the renewable energy sector and electrified applications such as electric vehicles and AI data centers. Wide-bandgap semiconductors have higher temperature and voltage tolerance than chips built on normal silicon wafers. SiC chips are vital for applications such as high-power electric vehicle charging solutions and renewable energy infrastructure, while energy-dense GaN chips can be used to make chargers and adapters smaller.
South Korean authorities are contemplating a mandate for automakers to reveal the brands of batteries used in their electric vehicles (EVs). This follows a recent EV fire that has heightened consumer apprehension about the safety of these vehicles. South Korean officials held a meeting, chaired by the vice environment minister, which was attended by representatives from the transport and industry ministries, as well as the national fire agency. The government is expected to announce new regulations soon, Reuters reported on Monday. Images of the burnt vehicles have fueled consumer fears about EV safety, the proposed regulation could impact these automakers’ strategies and consumer confidence in EVs
USA
This year, two-thirds of all storage installations are being used for energy-shifting applications, like price arbitrage and helping to integrate renewables. That’s a big jump from previous years and reflects a growing number of provincial mandates in China that require wind and solar projects to be paired with energy storage. The outlook for battery demand will continue to be closely tied to EVs, but the stationary storage market is worth watching. As one part of the energy transition temporarily slows, another is speeding up.
US federal lawmakers are working on two companion bills to ensure lithium ion batteries are safe for all-electric mobility devices, including e-bikes. Both bills are now with the Senate. Fire safety concerns have become a highly-discussed topic since an electric Mercedes-Benz caught fire in South Korea, sparking the South Korean government to consider electric vehicle (EV) battery policies. Fire safety in electric mobility products has also been discussed in the United States.
Steep tariffs recently imposed by U.S. and Europe on cars made in China have prompted many automakers to speed up plans to move parts of their production to other countries. Polestar, majority owned by China's Geely, has been manufacturing its vehicles in China and exporting to overseas markets. The Polestar 3, made in Volvo's U.S. plant in South Carolina, will be sold to customers in the U.S. and Europe.
Texas
"Everything is bigger in Texas, and that includes our small businesses,” Governor Abbott said in a press release. “With over 3 million small businesses employing nearly half of the Texas workforce, Texas remains a top state for small business job growth. Texas offers opportunities and partnership for businesses of all sizes to grow and succeed. I invite Texas' small business owners and aspiring entrepreneurs to attend a Governor’s Small Business Summit. Together, we will build a bigger, better Texas for decades to come.”
'Tesla Electric" and Sunrun will operate virtual power stations in Texas to boost the state's beleaguered grid.Tesla’s (TSLA) energy business is expanding in Texas, partnering with solar and home energy infrastructure provider Sunrun (RUN) to help homeowners build “virtual power plants” and make money in the process. In a statement, Sunrun said it was partnering with Tesla subsidiary Tesla Electric, a retail electricity provider in Texas, in order to support the energy grid in Texas via Tesla Powerwall battery owners.
Austin
The Hayes Innovation Center for Advanced Manufacturing has become a hive of construction and design work as the new facility begins to take shape in East Austin off State Highway 130. HICAM, a nonprofit, is focused on promoting advanced manufacturing. Its new space will house startups that might not otherwise be able to have regular access to robotics tech and other high-end manufacturing systems.
What might ultimately be a $1 billion data center development is planned for 52 acres on the east side of Taylor. It's another high tech score for a rural Texas suburb growing fast thanks to Samsung's new factory, and it further solidifies the Austin area's status as an emerging hub for data centers. Austin-based Blueprint Projects won unanimous approval from the Taylor City Council on Aug. 8 for incentives. The data center it plans to build would be on land owned by the Taylor Economic Development Corp. at 1601 Martin Luther King Jr. Drive, near where a 212-acre industrial campus is planned.
Featured Events
Cybersecurity Essentials: Protecting Your Business in a Digital Age
August 27th, 2024
4PM-6PM
Join us for an essential conversation on the pressing issue of cyber security, brought to you by the Business Owners Council and Texas Capital. In an era where digital threats are increasingly sophisticated and pervasive, understanding how to protect your business is more crucial than ever.
Steve French, Executive Director, Head of Information Risk at Texas Capital will lead the conversation about Cybersecurity threats and how they are constantly evolving and impacting broader communities. This discussion will cover threat actors and their attack methods, ransomware costs and consequences, and things you can do to improve your cyber security.
KMFA – 41 Navasota Street
Power Lunch - US Senator John Coryn
August 28th, 2024
11:30AM-1PM
The monthly Power Lunch provides chamber investors and the general public with an opportunity to stay informed on issues relevant to the business community with a seated lunch and a featured speaker or forum. It also provides an opportunity to enhance connections among the business community
This month’s speaker is United States Senator John Cornyn, who was first elected to the Senate in 2002. Currently serving his fourth term, he sits on the Senate Finance, Intelligence, and Judiciary Committees, where he helps craft legislation on behalf of more than 30 million Texans.
Embassy Suites by Hilton Round Rock
270 Bass Pro Drive
Round Rock, TX 78665
