Ørsted to open innovation hub in Providence – Providence Business News

NEWPORT – The global offshore wind developer that owns the Block Island Wind Farm today announced plans to open a United States Innovation Hub in downtown Providence.

Ørsted will open offices in the Cambridge Innovation Center coworking space within the Wexford Science & Technology Building this spring, according to a news release. The hub team aims to “identify, foster, and where appropriate, finance enterprises related to offshore wind, with a focus on next-generation technology and related innovation in the offshore wind energy field,” the release stated.

The space at 225 Dyer St. will host innovation hub members as well as leaders from Ørsted’s global headquarters in Denmark and regional headquarters in North America. Leveraging Rhode Island’s existing “innovation ecosystem” will be a key part of the process in attracting new U.S. companies interested in offshore wind technology.

“Locating this operation in Providence was an equally obvious move for us,” Thomas Brostrøm , president for Ørsted North America and CEO of Ørsted U.S. Offshore Wind, said in a statement. “This state has shown time and time again that it is home to one of the best innovation economies in the country and we look forward to becoming a part of that community.”

In a statement, R.I. Commerce Secretary Stefan Pryor called the news a “positive development” for the industry and the state, pledging to “work collaboratively” to ensure the innovation hub’s success.

Pryor said in an interview that the decision was the result of a year-long discussion between state leaders and the company over opportunities to increase its presence in the U.S. and take advantage of Rhode Island’s entrepreneurial activities, including the growing wind energy sector. Ørsted joins seven other wind energy companies that have leased space through the CIC, Pryor said.

The decision also feeds in to Gov. Gina M. Raimondo’s goal, announced in her State of the State address Tuesday, to make the state powered by 100% renewable energy by 2030.

Ørsted also plans to partner with CIC to host meetings of entrepreneurs in the offshore wind energy sector, and to offer opportunities for established and startup companies to pitch and test solutions to Ørsted.

Ørsted U.S. Offshore Wind has been awarded development rights to 2,900 of megawatts of wind capacity through six projects, including the Block Island Wind Farm previously owned by Deepwater Wind. Its headquarters are split between Boston and Providence and it has more than 150 employees.

Ørsted is a global company headquartered in Denmark that develops, constructs and operates a host of green energy projects including onshore and offshore wind, bioenergy plants and other energy products. It employs 6,300 people and brought 76.9 billion kroner in revenue in 2018 ($11.8 billion based on the 2018 exchange rate).

Cambridge Innovation Center is a Boston-based coworking chain that anchors the Wexford Science & Technology building. As of January, more than 50 businesses have leased space through the CIC.

Nancy Lavin is a PBN staff writer. You may reach her at [email protected].

Want to share this story? Click Here to purchase a link that allows anyone to read it on any device whether or not they are a subscriber.