CVEP recently signed a memorandum of understanding (MOU) with ADVANTAGE AUSTRIA, the official Austrian trade commission. CVEP and ADVANTAGE AUSTRIA will work together to attract Austrian renewable energy companies to the Palm Springs iHub. According to the official MOU signed on July 5, 2017, “CVEP has a primary mission to attract, inspire, and mentor start-up and emerging companies that will be domiciled in the Coachella Valley. CVEP has agreed to consider applications from companies represented by ADVANTAGE AUSTRIA on an individual basis for acceptance into the Palm Springs iHub.”
CVEP is already speaking with several Austrian companies who are exploring locating at the iHub. “We have already been approached as a location for an Austrian business that is offering water borne solar energy solutions,” explains Joe Wallace, CEO of CVEP. “To top things off, we already have an iHub company in renewables that is owned by an immigrant from Austria. Making this connection will leverage the Coachella Valley’s status as the best place in the world for renewable technology development and the desire of the Nation of Austria to establish North American headquarters in prime United States locations,” Wallace adds.
Tony Emsenhuber, ADVANTAGE AUSTRIA deputy trade commissioner, adds, “Our business is to find business partners for our Austrian companies. We have people in the renewable energy business looking at the iHub as the right place for innovation in the United States markets. This is a pilot program for us as we best figure out how to utilize the iHub and its resources. We spoke with several Innovation Hubs and very much liked the mentoring opportunities, the structure of the iHub, and the potential access to capital Joe and the others at the Palm Springs iHub offer our companies.”