Friday Fallback

Firms including Airbus SE, BMW AG and Michelin are set to get a share of €1.4 billion ($1.5 billion) in state aid for a slate of hydrogen power initiatives rubber stamped by the European Union as part of its drive to tackle climate change.

• Federal tax credits from the Department of Energy under the Qualifying Advanced Energy Project Credit (48C) will support construction of Topsoe’s second Solid Oxide Electrolyzer Cell (SOEC) factory.
• The new factory will help accelerate US domestic clean energy by manufacturing SOEC, the key element to the world’s most efficient electrolyzer technology. The cells will be used to produce clean hydrogen, which is essential for the US and global energy transition.
• The factory will be Topsoe’s largest investment in the US to date. A Final Investment Decision (FID) will be based on an assessment of market conditions and developments.
• If FID is taken, the facility, combined with the company’s SOEC factory in Herning, Denmark, will make Topsoe the largest SOEC manufacturer in the world.

The New Multi-Modal Hydrogen Refueling Stations will have Capacity to Fuel as many as 200 Heavy-Duty Trucks or 2,000 Light-Duty Vehicles Per Day.

• Total Department of Energy Support Reaches $65M for Cutting-Edge Hydrogen Production Facility

NATICK, Mass.– Electric Hydrogen announces the award of a $18.3M transferable tax credit from the Department of Energy, Department of Treasury, and the Internal Revenue Service under the Qualifying Advanced Energy Project 48C initiative, funded by the Inflation Reduction Act, for electrolyzer manufacturing at its gigafactory in Devens, MA.