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"We continue to see strong support for our efforts to scale our US operations, both within advanced research and efficient manufacturing. The support now received increases the attractiveness of investing in expanding our capacity and capability in the US," says Nel's President and CEO,
The 48C program is funded by the Inflation Reduction Act and managed by the
The tax credits come in addition to other grants communicated earlier. Nel has now secured close to
Nel has been operational in
ENDS
For additional information, please contact:
Lars Nermoen, Head of Communications, +47 902 40 153
About
Nel has a history tracing back to 1927 and is today a leading pure play hydrogen technology company with a global presence. The company specializes in electrolyser technology for production of renewable hydrogen, and hydrogen fueling equipment for road-going vehicles. Nel's product offerings are key enablers for a green hydrogen economy, making it possible to decarbonize various industries such as transportation, refining, steel, and ammonia.
This information is subject to a duty of disclosure pursuant to Section 5-12 of the Norwegian Securities Trading Act. This information was issued as inside information pursuant to the EU Market Abuse Regulation, and was published by
Forward-looking statements: This announcement contains certain forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they reflect the company's current expectations and assumptions as to future events and circumstances that may not prove accurate. A number of material factors could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.
https://news.cision.com/nel-asa/r/nel-asa--additional-usd-41-million-in-tax-credits-for-manufacturing-expansion-in-michigan,c3956713
https://mb.cision.com/Main/115/3956713/2712288.pdf
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