seeing green

Shell commits $10M to UH for new Energy Transition Institute

The University of Houston Cougars are seeing green with this news. Photo via UH.edu

A new clean energy-focused institute emerging on the University of Houston campus has been buoyed by funding from an energy behemoth.

Shell USA Inc. and Shell Global Solutions (US) Inc. has granted UH a $10 million gift to establish the Energy Transition Institute. According to a news release, the institute — focused on three core areas: hydrogen, carbon management, and circular plastics — is expected to receive financial support that will likely exceed $52 million across donations from all parties.

With UH as one of the most ethnically diverse research universities in the country and its founding partner Shell, the initiative will focus on serving vulnerable communities and leading the energy transition in an equitable way.

“Houston is poised, like no other city, to lead the energy transition and the Energy Transition Institute will be essential in pursuit of that goal,” says UH Chancellor and President Renu Khator in the release. “Along with advancing energy equity and social impacts in our communities, Shell’s generous gift will help UH maintain its leadership role in the energy transition.”

Khator says this initiative will work in collaboration with Houston's energy industry and welcomes more partners like Shell to join in on the project.

“Climate change is one of the greatest challenges of our lifetime — and it’s partnerships like this, along with other key drivers such as policy and technology, that together can help the US make progress on its net-zero goals,” says Shell USA President Gretchen Watkins in the release. “When you put brilliant minds together with the resources they need to do the work, amazing things can happen.”

Within the three clean tech verticals, the new institute will target four disciplines, according to the university:

  • Science, engineering, and technology: Recruit faculty energy transition research and technology expertise and drive new on-campus collaborations.
  • Policy and regulation: Develop new public-private partnerships and infrastructure for measuring success, as well as recruit new faculty in policy and regulation.
  • Equity, diversity, and justice: Drive stakeholder engagement across communities, including minority serving institutions universities, as well as research programs across disciplines focused on energy equity and environmental justice.
  • Workforce and talent: Upskill the existing workforce on topics related to sustainable energy development and work closely with Shell and other industrial partners

Shell is no stranger to UH and is founding member of the University of Houston’s Center for Carbon Management in Energy, which is expected to collaborate with the new Energy Transition Institute to innovate all things carbon capture, storage, and utilization — as well as hydrogen commercialization and circular plastics.

“These are important building blocks to transition society to a net zero future while still providing the products and services that people have come to expect and demand in their daily lives,” says Selda Gunsel, president of Shell Global Solutions, in the release. “The Shell technology community looks forward to working with the institute to co-develop crucial technology in these areas, as well as nurturing the diverse talent needed to drive the energy transition into the future.”

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Building Houston

 
 

Supporting and honoring our Hispanic-Latino clients is not just a month-long initiative, it is a long-term, generational investment in America and we are proud to be investing in a stronger economy for Houston now and for years to come. Photo via Getty Images

Every year at this time ― Hispanic Heritage Month ― we collectively celebrate the economic, cultural, and social contributions of the Hispanic-Latino community to our nation. We honor the work of past generations which have allowed children and future generations to benefit from more opportunities.

As diverse a community as is the world, we strive to build a future where there are no barriers for success, and at Bank of America, we do our part to make an impact by helping build Hispanic-Latino wealth in Houston.

The numbers are clear: The 2020 Census revealed that the Hispanic-Latino population in the United States rose to 62.1 million, making up 18.7 percent of the total U.S. population and accounting for slightly more than half (51.1 percent) of the population growth between 2010 and 2020. Hispanic-Latinos now open more small businesses than any other group in the country and are also the fastest-growing demographic of small business owners across the nation. It is not surprising that Hispanic-Latino economic power continues to rise year after year. According to Nielsen Scarborough, the number of Houston Hispanic businesses have increased 85 percent since 2013.

Investing in business

Investing in Hispanic-Latino wealth means supporting entrepreneurs so they are set up for success. Early-stage funding is critical for the growth of a new business, especially when Hispanic-Latino entrepreneurs are still faced with gaps in financial literacy and business education, funding, and networking opportunities.

According to data from Crunchbase, Latino-founded startups accounted for only 2.1 percent of venture investments in the U.S. last year. This is unjustifiable.

As part of our commitment to advancing racial equality and economic opportunity, we have dedicated $350 million in minority- and women-led companies through capital investment by mission-focused venture funds. Of the funds we have in our portfolio, one in every four are led by Hispanic-Latino managers, providing capital that will help entrepreneurs and small business owners grow their businesses, create jobs, and improve financial stability.

An important element to creating opportunities for Hispanic-Latinos to build wealth, whether as a business owner or an employee, is ensuring that young people recognize higher education as a pathway to achieve success. That means partnering with colleges and universities and investing in job creation, skills-building, and support services for students to do so. Locally, we do this with EMERGE Fellowship and with the University of Houston College of Medicine. When we invest in students, we are investing in future professionals and business leaders who will build Hispanic-Latino wealth and contribute to Houston’s economy and culture. This is something we can celebrate together for years to come.

Investing in sustainable homeownership

Sustainable homeownership provides a lasting investment for future generations and cycles capital into the community. The National Association of Hispanic Real Estate Professionals (NAHREP) recently released data showing an increase in Latino homeownership, from 47.5 percent in 2019 to 48.4 percent in 2021, the highest level since the mid-2000s. Through the Community Homeownership Commitment, which provides low down payment loans and closing cost grants, families can take their savings and turn them into lasting legacies. It is a pillar for families to build wealth.

Here in Houston, we also support organizations that assist with homeownership, like Tejano Center, Avenue CDC, and Houston Habitat for Humanity. Building Hispanic-Latino home equity increases the amount of capital families can use now or in the future helping build our Houston economy.

During the past decade, the rate of Hispanic-Latino economic development has far outpaced rates among non-Hispanics. Supporting and honoring our Hispanic-Latino clients is not just a month-long initiative, it is a long-term, generational investment in America and we are proud to be investing in a stronger economy for Houston now and for years to come.

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Rick Jaramillo is the market executive for Bank of America Houston.

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