US awards about $335m of investment tax credits for new hydrogen-equipment manufacturing facilities
Recipients of 48C subsidies include Topsoe, Nel, Cummins, John Cockerill, Ballard Power Systems and newcomers Electric Hydrogen, Nuvera and Twelve Benefit
About $335m of investment tax credits have been awarded to eight companies for the construction of new hydrogen-equipment factories in the US, according to the US Department of Energy.
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The recipients are as follows (in order of award size):
“In Phase1, Ballard plans to build and commission this new manufacturing facility with annual production capacity of 8 million MEAs [membrane electrode assemblies], 8 million bipolar plates, 20,000 fuel cell stacks, and up to 20,000 fuel cell engines per year, or the equivalent of 3GW of fuel cells,” the company wrote in its application.
6) US manufacturer Nuvera Fuel Cells will spend its $14.1m award on expanding and re-equipping its fuel-cell factory in Billerica, Massachusetts, “to meet anticipated demand for both current and next-generation fuel-cell engines, with the latter expected to predominate after commercial launch in 2024”, it said.
The Department of Energy also released the details of 48C tax credit recipients in other industries, such as grid, battery and electric-vehicle components and other clean-energy materials and equipment — a total of $1.93bn across 35 projects in 20 US states.
The Qualifying Advanced Energy Project Credit (48C) programme was established by the American Recovery and Reinvestment Act of 2009 and expanded with a $10bn investment under the 2022 Inflation Reduction Act of 2022.
It provides an investment tax credit of up to 30% of qualified investments for certified projects that meet prevailing wage and apprenticeship requirements, according to the Department of Energy.
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