Plug Power, operating an electrolytic hydrogen facility in Woodbine, Georgia, will benefit from the federal clean hydrogen production tax credit under the Inflation Reduction Act. The company is among the early adopters of this incentive, aiming to enhance the cost competitiveness of clean hydrogen production in the U.S. The tax credit offers up to $3.00 per kilogram of clean hydrogen, leading to tangible fuel cost reductions for Plug Power. CEO Andy Marsh highlights the significance of government support for clean hydrogen in achieving global decarbonization objectives, expressing confidence that these incentives will drive innovation and investment in the industry. Plug Power's Georgia facility, touted as the largest electrolytic liquid hydrogen plant in the nation, is part of the company's broader strategy to expand its green hydrogen network. The company's plans to utilize the tax credit extend to future developments across the U.S., with ambitions for growth and sustainable hydrogen production. Plug Power's recent conditional commitment for a substantial loan guarantee from the U.S. Department of Energy underscores its commitment to developing multiple green hydrogen production facilities to serve various sectors.