Danish Firm Topsoe Moves Forward with US Expansion Amid Political Changes
Key Ideas
  • Topsoe remains optimistic about expanding its hydrogen and ammonia business in the US despite political uncertainty.
  • The Danish firm plans to develop a $400m+ electrolyser production base in Virginia, supported by tax credits.
  • Topsoe has purchased land and is in the process of setting up operations in Virginia for their green energy projects.
Danish company Topsoe is moving forward with its plans to expand its green hydrogen and ammonia business in the United States despite recent political changes. Following Donald Trump's election victory, the Copenhagen-based firm is optimistic about its US expansion. Topsoe is working on developing a solid oxide electrolyser cells production base in Virginia with a budget exceeding $400 million. The company has already secured nearly $136 million in tax credits under the Inflation Reduction Act for this project. Kim Heddegaard, the CEO of power-to-x at Topsoe, mentioned that they have acquired land in Virginia and are progressing with the design and engineering phase to establish their operations successfully. Despite policy uncertainties, Topsoe remains committed to its growth plans in the US, reflecting a positive outlook on the future of green energy investments in the country.
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