GenH2 Incentive Agreement Announcement

February 28, 2022

Titusville–based GenH2 and the North Brevard Development Zone announce incentive agreement.

This article is a repost from, BREVARD BUSINESS NEWS online at BrevardBusinessNews.com

TITUSVILLE (Feb. 28, 2022) — GenH2, a premier provider of hydrogen infrastructure, announced today that the company will receive a financial incentive from the North Brevard Economic Development Zone to induce the build–out of its new global headquarters campus located at 5120 S. Washington Ave. The finished facility will be roughly 100,000 square feet.

According to the agreement, GenH2 has also committed to creating 100 new full–time jobs by the end of 2025.

GenH2, which was founded by hydrogen infrastructure visionary and leader Cody Bateman, is focused on the mass production of infrastructure equipment necessary for the transition to a clean energy economy. GenH2 technology will allow safe onsite production, storage, and distribution of pure liquid hydrogen, making the product accessible for everyday use.

The company plans to renovate two existing buildings on the site, and finish demolishing a third structure, to build a 10.5–acre campus for the company’s global headquarters. GenH2, which purchased the facility in September 2021, has stated its plans to invest nearly $12 million in the purchase and renovation of the buildings, and a total of $35 million in a multi–phase renovation and buildout program.

“Our GenH2 team has deep roots in NASA and the Space Coast and we are thrilled to establish our headquarters here and continue to growth with the community and local residents,” said Rusty DiNicola, chief operating officer of GenH2. “We are grateful for the support of Brevard County and the North Brevard Development Zone as well as the extensive support of the City of Titusville and the State of Florida, as we continue to grow our team and our leadership in the liquid hydrogen infrastructure industry.”

“Welcome to the community, GenH2!” said Brevard County District 1 Commissioner Rita Pritchett, who represents the area where the company’s headquarters will be located. “This is an opportunity to facilitate new clean energy technology in North Brevard and is a great investment which should help with the economic stability of the county.”

The new GenH2 campus, when complete, will include the following:

l Global headquarters building
Advanced research and development laboratory
Light manufacturing center for assembly of hydrogen storage tanks
Observation deck and outdoor walking trails
A hydrogen technology visitor center and gallery open to the public
Educational and training classrooms for community engagement

 

About GenH2

GenH2 is an industry leader in hydrogen infrastructure solutions. The Titusville–headquartered technology company was founded by Bateman, who is widely recognized as a visionary and expert in this industry. The GenH2 team includes former NASA researchers and developers who possess decades of experience researching, engineering, and producing hydrogen solutions. GenH2 is focused on the mass production of infrastructure equipment necessary for the transition to a clean energy economy. GenH2 technology will allow safe onsite production, storage, and distribution of pure liquid hydrogen, making the product accessible for everyday use. GenH2’s innovative approaches include filling station solutions and servicing systems to make clean hydrogen readily available on–site for a host of end–use applications; the company has plans to deliver its product to hundreds of locations across the country in the coming years. Learn more about GenH2 at www.DiscoverHydrogen.com.

About the North Brevard Economic Development Zone

The North Brevard Economic Development Zone is a special dependent district, created by the local governments of Brevard County and the City of Titusville as a tool for stimulating business development in the northern area of the county. This area, which is home to NASA’s Kennedy Space Center and the Cape Canaveral U.S. Space Force Station, was adversely affected in 2011 by the termination of NASA’s Space Shuttle program. To counter this impact, the Zone was created that same year with a tax increment financing mechanism to facilitate job growth and new capital investment in the area.

Based upon the number of new jobs and the amount of capital investment that has occurred in the North Brevard area since 2011, the Zone and the City of Titusville were recognized in 2019 by the Southern Economic Development Council (SEDC) — the oldest and largest regional economic development association in North America — as the winner of the SEDC’s annual Community Economic Development Award for the best overall economic development program in the category of cities between 40,000 and 100,000 in population. To learn more about this organization, visit www.NBEDZ.org

 

By Melissa Perlman
genh2@blueivy.co
BlueIvy Communications

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