Lately, investments in the Pittsburgh region have focused on sustainability. 

Government grants allocated millions of dollars to support conservation workforce development programs and technology initiatives aimed at integrating more renewable energy sources into the US power grid.

Plus, Governor Josh Shapiro pledged funds to support the manufacturer that operates the last vertically integrated power semiconductor facility in the country, in an effort to bolster the region’s role in developing clean energy technologies. 

Read on for details on those transactions, plus other money moves, after the chart showing which companies are hiring in Pittsburgh this month. 

Local semiconductor manufacturer gets $1 million from Shapiro

Governor Josh Shapiro announced Pennsylvania’s $1 million investment to support the growth of semiconductor product supplier Powerex Inc. 

The company’s Youngwood facility is one of the last vertically integrated power semiconductor facilities in the country, a method of manufacturing that completes the entire production process in one place. Along with the $1 million investment, Powerex will invest a minimum of $14 million to modernize and upgrade key assembly and testing capabilities at its facility. The investment will create at least 25 new jobs and help to retain 215 existing positions, according to the company. 

Powerex is also receiving up to $3 million in federal funding from the US Department of Commerce under the CHIPS and Science ACT to further support its growth in Pennsylvania. 

Growing the technology and manufacturing industries in Pennsylvania is one of the key focuses of Shapiro’s 10-year economic development strategy. 

“We’re focused on growing the commonwealth’s vital industries, including technology and manufacturing, and have the innovation pipeline, skilled workers and geographic proximity to major corridors and markets that companies need,” Shapiro said in a news release. 

Pitt developing new electricity tech with federal grant

University of Pittsburgh’s School of Engineering received $3.3 million from the US Department of Energy to develop new tech for distributing electricity. 

The federal funds will support an industry and university partnership to apply artificial intelligence to high voltage direct current (HVDC) converter designs, which help electricity travel over long distances for wide distribution. The partnership will aim to cut transmission costs by 35% and increase the amount of power that can be delivered or stored by 2035. 

Many renewable resources, such as offshore wind projects, are located far from shore or in remote areas. HVDC transmission helps integrate these resources into the grid, according to the US Department of Energy. 

“This grant presents a great opportunity for us to explore and apply the modern HVDC research and development approach, with artificial intelligence-assisted design,” said YuAnn Li, assistant professor of electrical and computer engineering at Pitt. “AI provides excellent computing capability to flash forward on innovative power converter topologies and control, that previously would not be able to be achieved.”

$1.3 million for conservation, workforce development

State Representative Aerion Abney of Allegheny County announced that a total of over $1.3 million in state conservation grants has been awarded to three projects in the Pittsburgh region. 

Over $600,000 of the funds was secured from the Community Conservation Partnership Program (C2P2) for an Urban and Community Workforce Development Program to be run by the Student Conservation Association. The association has been fielding conservation crews in Pittsburgh for more than 20 years, facilitating hands-on environmental conservation programs for youth and young adults. 

Another $600,000 of C2P2 funds were secured for a workforce development program and Urban Wood Rescue Project to be run by the Pittsburgh Conservation Corps. The corps hires individuals struggling to enter the job market to work on ecological restoration projects throughout the region, offering additional training for them to secure permanent employment. 

The rest of the funds will be used for the acquisition of nearly nine acres in Pittsburgh for “open space and passive recreation,” according to a press release from Abney. The location of the land purchase has yet to be announced. 

More money moves: 

• Pittsburgh’s downtown revitalization efforts will receive nearly $600 million of public, private and nonprofit investments into “shovel-ready” projects, like transforming old office buildings into housing, over the next four years.
• Pittsburgh-headquartered financial counseling platform MoneyStack announced a $250,000 investment from the Richard King Mellon Foundation to grow its platform, GamFin, to help those with gambling addictions.
• Homestead-based robotics startup Edge AI Solutions secured $3 million in seed round funding to accelerate the development of robots that inspect wastewater pipes.
• Strip District-based electronics manufacturer Excelitas Technologies Corp. announced plans to sell some of its aerospace and defense businesses to Teledyne Technologies Inc. for $710 million in cash.
• North Shore-based train and equipment manufacturer Webtec Corp. announced a $110 million cash acquisition of two international firms: A Spanish electrical equipment manufacturer and a Slovakian company specializing in carbon and graphite materials.
• The Richard King Mellon Foundation invested $265,000 into the edtech music platform Conduction. The funds will help expand the platform into more Pennsylvania schools, enabling students to create and produce digital songs that are later brought to life by local musicians.
• Supply chain services company Wesco International announced its definitive agreement to acquire Ascent, a data center facility management company in St. Louis, for $185 million. Wesco, the second-largest public company in the Pittsburgh region, has been expanding through acquisitions over the last few years.
• The Appalachian Regional Commission announced $18.5 million in awards for Pennsylvania organizations. Local recipients include workforce development organization Catalyst Connection and nonprofit Pittsburgh Robotics Network.
• Universal Stainless & Alloy Products Inc., one of the biggest manufacturers in the Pittsburgh region, will be acquired by European company Aperam for $45 per share.
• Governor Josh Shapiro’s administration is investing more than $6.7 million to support an expansion of Mitsubishi Electric Power Products, Inc. The company is investing over $85 million to construct a new advanced switchgear factory, creating 200 new jobs, in the Pittsburgh region.  

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