Permascand receives award from the U.S. Department of Energy within the program to support clean energy manufacturing

LJUNGAVERK, Sweden, Jan. 29, 2025 /PRNewswire/ -- Permascand USA, Inc. has been awarded $13.7 million in tax credit by the U.S. Department of Energy (DOE) through their Qualifying Advanced Energy Project Credit (§ 48C) program. In the program's second round, Permascand submitted a project related to a new manufacturing facility in Houston, Texas for high performance electrodes from both new and recycled materials. These electrodes represent a core component of clean hydrogen production.

"We are proud to receive the support of the U.S. Department of Energy within their objective for clean energy," states Permascand CEO Fredrik Herlitz. "Our mission is to provide electrochemical solutions for the global green transition. Being recognized in this competitive funding program is a testament to our strong technology development. This proposed project leverages Permascand's experience in advanced technologies and machinery and will employ a highly skilled workforce to support DOE's initiative in lowering the levelized cost of hydrogen."

The Permascand proposal was one of 140 projects selected by the DOE in the second round out of over 800 concept papers submitted in summer of 2024.

The § 48C tax credit aims to strengthen U.S. industrial competitiveness and clean energy supply chains as the nation transitions to a net-zero economy with the creation of high-quality jobs, a reduction in industrial emissions, and an increase in domestic production of critical clean energy products and materials. Decarbonization using clean hydrogen is a priority area for this tax credit, and it can be applied to manufacturing of electrolyzers, fuel cells, and associated components (including gas diffusion layers, bipolar plates, and power electronics).

For more information about the DOE program please see attached link.
New 48C Tax Credit Will Spur Historic Investments in Manufacturing and Critical Materials
U.S. Department of the Treasury and IRS Announce $6 Billion in Tax Credit Allocations for the Second Round of the § 48C Qualifying Advanced Energy Project Tax Credit

Contact person:
Fredrik Herlitz, tel +46 691 355 00, email [email protected] 

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SOURCE Permascand