Economic Development Committee
March 19, 2026

3/6/2026
1 Stored Power Technology, Inc. MOU Introduction
Economic Development Committee March 19, 2026
SPT in Riverside
Riverside Expansion Green Technology Clean energy systems, energy storage, emerging hydrogen solutions Quality JobsPlanned future expansion including manufacturing capacityAlignment in company mission and vision with the City’s growing Green Tech HubGrowing local workforce with quality employment opportunitiesSustainabilityDrivenLeadership &VisibilityOpportunities for workforce development, industry clustering, R&D 3/6/2026
2 MOU Framework
Non-binding Coordination & Collaboration•Projects under collaboration ⚬Green Hydrogen to Green Ammonia Environmental Agriculture Project ⚬e-SAF Aviation Emissions Reduction Project with Integrated CO2 Capture ⚬Hydrogen-Powered Public Transit with Ohmio •City Role & Scope of Collaboration ⚬Site selection assistance for manufacturing, demonstration and/or testing⚬Coordination with utilities ⚬Concierge service and interdepartmental guidance Recommendation
That the Economic Development Committee: •Receive the report about Stored Power Technology, Inc. (SPT); and •Recommend that the City Council authorize Mayor Lock Dawson, or her designee, to execute the Memorandum of Understanding. 3/6/2026
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