Bloom Energy to receive up to $75M in federal tax credits for Fremont plant

The company states: “Bloom Energy was recently awarded up to $75M in tax credits by the Department of Energy, Department of Treasury, and the Internal Revenue Service under the Qualifying Advanced Energy Project 48C initiative. Bloom was selected for this award for its commitment to expand domestic manufacturing and fuel cell and electrolyzer 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(R) platform and Bloom Electrolyzer. The funding is part of the $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.”