Ballard Power (TSE:BLDP) has released an update.
Ballard Power Systems has secured an additional $54 million in U.S. federal investment tax credits for its fuel cell Gigafactory in Texas, increasing the total federal support to $94 million. The funds will help the company establish advanced manufacturing for zero-emission fuel cells, with expectations to alleviate capacity constraints at its North American production facilities by late 2027. The Gigafactory, part of Ballard’s ‘local for local’ manufacturing strategy, aims to bolster the supply chain for clean energy and meet growing customer demand for high-volume, cost-effective production.
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