Reported 12 months ago
Plug Power Inc (NASDAQ: PLUG) announces plans to utilize the IRA's Section 45V Credit for Clean Hydrogen Production in its financial reports. This move positions Plug Power as one of the first U.S. clean hydrogen producers to take advantage of this new incentive, resulting in a surge in stock price. The PTC offers up to $3.00 per kilogram for U.S.-produced clean hydrogen, helping Plug Power reduce fuel costs and achieve positive fuel margins in the future. The company is expanding its hydrogen production facilities and collaborating with key suppliers to enhance its green hydrogen network, despite a recent decline in stock value.
Source: YAHOO