Nel ASA's subsidiary has secured up to USD 29 million in investment tax credits for a manufacturing expansion in Michigan under the 48C program. This significant financial boost enhances the subsidiary's ability to produce advanced electrolyser products, crucial for the green hydrogen economy. Supported by grants from the US Department of Energy and the state, Nel ASA aims to drive the transition towards renewable hydrogen in various sectors like transportation, refining, and steel. While the final investment decision for the Michigan facility hinges on market demand, the overall strategy aligns with Nel's mission to promote sustainable energy solutions. Nel ASA, a key player in hydrogen technology since 1927, is dedicated to the development of Alkaline and PEM technology to enable the widespread adoption of renewable hydrogen, contributing to the global effort of decarbonizing industries. With a positive sentiment towards hydrogen and green energy, Nel ASA's strategic moves in Michigan reflect a commitment to innovation and sustainability in the evolving energy landscape.