VANCOUVER, BC and ROCKWALL, Texas, April 1, 2024 /CNW/ - Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) announced it has been awarded $54 million of investment tax credits from the U.S. Internal Revenue Service as part of the Qualifying Advanced Energy Project Tax Credit (48C), funded by the Inflation Reduction Act (IRA). The 48C program, which provides 30% investment tax credits for selected clean energy manufacturing projects, is designed to support secure and resilient domestic clean energy supply chains. Ballard plans to use the $54 million in tax credits to support the build-out of a new fuel cell Gigafactory in Rockwall, Texas.
Read more at newswire.cahello world
Provided Content: Content provided by Newswire.ca. The Globe and Mail was not involved, and material was not reviewed prior to publication.
