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Electric Hydrogen Co secures $65 million from US Department of Energy for electrolyser production in Massachusetts.

Electrolyser manufacturer Electric Hydrogen Co (EH2) has secured a total of USD 65 million (EUR 59.8m) in support from the US Department of Energy (DoE). The company was awarded a USD 18.3 million transferable tax credit under the Qualifying Advanced Energy Project Tax Credit (48C) programme. This comes after EH2 received a USD-46.3-million grant from the DoE for its rapid technology advancements in electrolyser manufacturing. The funds will be used for electrolyser production at EHS2’s gigafactory in Devens, Massachusetts. The company expects to ship the first electrolyser stacks from its gigAFactory later in 2024 to customer-sited project in southeast Texas.

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