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.
Electric Hydrogen was selected for this award for its advancements in manufacturing technology, ability to serve large-scale commercial projects in the near-term and commitment to building out U.S. manufacturing capacity. Electric Hydrogen’s low-cost electrolyzer stacks sit at the center of the company’s fully integrated 100MW Electrolyzer Plant, a solution designed to deliver the lowest cost green hydrogen on earth. Electric Hydrogen’s proprietary electrolyzer stacks are core to how its 100MW Electrolyzer Plant transforms project economics and unlocks pathways to the DOE’s Energy Earthshot production cost target for green hydrogen of $1/kg of H2 by 2031.
