Michigan to Become the Hub of Green Hydrogen Production Thanks to Nel ASA
Supporting Green Hydrogen Development in the U.S. Nel ASA, a global leader in renewable energy technology and a pioneer in hydrogen production, has received up to USD 29 million in investment tax credits for its planned manufacturing expansion in Michigan. This tax credit, part of the Qualifying Advanced Energy Project Tax Credit (48C) program, comes as a federal initiative funded by the Inflation Reduction Act. The 48C program is jointly managed by the U.S. Department of Energy, the U.S. Treasury, and the IRS, aiming to incentivize clean energy investments.
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