Bloom Energy to receive up to US$75 million in federal tax credits for manufacturing plant

Bloom was selected for this award for its commitment to expand domestic manufacturing and fuel cell and electrolyser production capacity at its multi-gigawatt Fremont, California manufacturing plant. At the heart of Bloom Energy’s recently opened Fremont facility is the ability to manufacture high-efficiency fuel cell stacks, which serve as the foundational technology for the company’s Energy Server® platform and Bloom Electrolyzer™.

The funding is part of the US$4 billion in tax credits recently announced by the White House under the Qualifying Advanced Energy Project Tax Credit to accelerate domestic clean energy manufacturing and reduce greenhouse gas emissions at industrial facilities.

“The US$75 million of funding from the Federal government is a vote of confidence in Bloom’s commitment to domestic manufacturing, in our solid oxide technology, and in our mission to facilitate the energy industry’s decarbonisation,” said KR Sridhar, Founder, Chairman and CEO of Bloom Energy. “These funds will enable us to invest in the operational efficiency of our Fremont facility and accelerate the expansion of our stack capacity, so that we can continue to deliver timely, resilient power solutions to our customers.”

Bloom’s 164 000 ft² Fremont manufacturing facility, which celebrated its grand opening in 2022, expanded Bloom’s footprint to more than 524 000 ft² and has created hundreds of clean energy jobs. The facility’s annual output can produce over 1 GW, the equivalent capacity of adding a nuclear power plant every year.

Read the article online at: https://www.globalhydrogenreview.com/hydrogen/09042024/bloom-energy-to-receive-up-to-us75-million-in-federal-tax-credits-for-manufacturing-plant/