Plug Power to Get Federal Clean Hydrogen Production Tax Credit Under US IRA-April 2024-www.financetom.com

Plug Power to Get Federal Clean Hydrogen Production Tax Credit Under US IRA

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Plug Power to Get Federal Clean Hydrogen Production Tax Credit Under US IRA

Jun 28, 2024 6:47 AM

09:20 AM EDT, 06/28/2024 (MT Newswires) -- Plug Power ( PLUG ) said Friday that it will recognize the US Inflation Reduction Act's tax credit benefits for the production of clean hydrogen in its upcoming quarterly financial results.

The production of clean hydrogen provides up to $3 per kilogram of production credit for clean hydrogen produced in the country, the company said.

Plug Power ( PLUG ) began commercial operations of its electrolytic hydrogen facility in in Woodbine, Georgia, earlier this year.

Shares of Plug Power ( PLUG ) were up 6% in recent Friday premarket activity.

Price: 2.6098, Change: +0.15, Percent Change: +6.09

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