Hyperion moving global HQ to Ohio
Company says it will hold on to offices in Orange, with no `major effect on jobs' locally
The Orange-based hydrogen fuel cell and transportation company Hyperion Cos., said Tuesday it will move its global headquarters to Columbus, Ohio.
Hyperion said in a news release that it will create 680 new jobs over six years and invest nearly $300 million in a headquarters, research and development center and manufacturing operation in the city.
The company, founded in Columbus in 2011 before moving its headquarters to Orange in 2014, will keep its offices in Orange.
“It is transitioning from research and development to manufacturing in its next phase of growth,” a representative with Hyperion told the Orange County Register on Tuesday.
Hyperion said its transition to manufacturing will “not have a major effect on jobs in Orange except for 10-20 leadership positions relocating. Those roles will be replaced with new leadership as the Orange facility refocuses on advanced design, experimental research, and product development.”
Current employees in Orange will remain, Hyperion said.
“The Orange location will refocus its resources on advanced design, consumer products, and experimental hydrogen technologies,” the company representative said.
Hyperion said it plans to refurbish the former Columbus Dispatch printing plant for manufacturing hydrogen fuel cells, which along with electric batteries are viewed as a key solution to reducing climatewarming carbon emissions in the transportation industry.
The company said the state of Ohio, along with the city of Columbus, offered tax incentives to Hyperion, which are performance-based and dependent on new job creation.
Hyperion did not provide details on the financial terms of the tax incentives.
CEO Angelo Kafantaris said the company is focused on building advanced green hydrogen fuel cells for a number of applications.
“With its ability to store mass quantities of electric energy, hydrogen has tremendous long-term, zero-emission potential for the energy sector and will be one of the most powerful tools in reducing carbon emissions on a global scale,” Kafantaris said.
Fuel cell production is expected to begin in 2023.
Hydrogen produced from carbon-emitting natural gas and coal has long been used in manufacturing processes. Green hydrogen is produced using renewable energy from sources such as wind and solar to split water molecules into hydrogen and oxygen.
Green hydrogen currently represents a small fraction of worldwide hydrogen production.
Tuesday's announcement comes days after computer chip manufacturer Intel Corp. announced it would build a $20 billion technology hub outside Columbus.
Columbus Mayor Andrew Ginther said Hyperion “will bring a fresh wave of investment and activity that will create opportunities” for the city.