The Utah Governor’s Office of Economic Opportunity awarded OxEon Energy a post-performance tax reduction for its expansion in Davis County. The corporate incentive is part of the state’s Economic Development Tax Increment Financing (EDTIF) program.
As part of the agreement, OxEon projects to add 103 new, high-paying jobs and invest $99,397,000 in Utah during the next six years.
“Utah is committed to advancing clean energy solutions and creating jobs that fuel economic growth,” said Ryan Starks, executive director of the Governor’s Office of Economic Opportunity. “This incentive helps build a more sustainable future by supporting companies like OxEon as they develop groundbreaking technologies to shape the future of energy.”
For over three decades, the OxEon team has been at the forefront of solid oxide technology, developing technologies capable of decarbonization, notably contributing to NASA’s MOXIE project, achieving breakthroughs in oxygen extraction on Mars. Established in 2017, OxEon Energy has secured significant funding to drive sustainable energy solutions, leveraging core technologies like solid oxide electrolyzers and fuel cells. With a mature technology platform, OxEon aims to scale up manufacturing, collaborating with state organizations and educational institutions to foster workforce development and local economic growth. Supported by strategic alliances and substantial investments, OxEon’s expansion plans prioritize increasing production capacity to meet the growing demand for sustainable fuel solutions. The manufacturing capacity automation and scale-up effort, backed by grants and investments, is the first phase of a comprehensive growth strategy. This initiative begins with a significant scale-up of the pilot manufacturing facility at OxEon Energy’s North Salt Lake site, followed by the establishment of full-scale manufacturing facilities, with potential replication in various locations. These efforts highlight OxEon’s dedication to meeting the rising demand for solid oxide systems and advancing sustainable energy solutions globally.
“OxEon Energy’s decision to expand our operations in Utah reflects our deep commitment to the state’s thriving innovation ecosystem and talented workforce,” said Jessica Elwell, chief operating officer at OxEon Energy. “Utah offers a unique combination of skilled professionals, supportive business environments, and access to critical infrastructure, making it the perfect place to scale our efforts in advancing sustainable energy solutions. The state’s unparalleled outdoor culture also enhances work-life balance for our employees, helping us attract and retain top talent. We are excited to continue contributing to the state’s growth while driving progress in clean energy technologies.”
“OxEon’s growth is a testament to the remarkable energy innovation happening right here in Utah,” said Scott Cuthbertson, president of EDCUtah. “This project showcases our commitment to fostering the success of local companies and highlights the potential for groundbreaking innovation within our communities. EDCUtah will continue to champion initiatives that support the growth of Utah-based businesses and strengthen our state’s economy.”