New Orleans opens Newlab, a $5M energy innovation hub, to foster startups in decarbonization and energy tech.

Newlab, an energy-focused innovation hub, is opening in New Orleans at the former Bywater Naval Base. The project, backed by the city, Louisiana Economic Development, and other partners, aims to support 30-50 energy startups focusing on decarbonization, carbon capture, and energy production. The city plans to invest about $5 million in the initiative, expected to spur economic growth and technological innovation in the energy sector.