Permascand USA, Inc. has been granted a $13.7 million tax credit by the U.S. Department of Energy under the Qualifying Advanced Energy Project Credit program. The award is specifically for a project in Houston, Texas, focusing on establishing a new manufacturing facility for high performance electrodes made from both new and recycled materials. These electrodes play a pivotal role in clean hydrogen production, aligning with the DOE's objective for clean energy. Fredrik Herlitz, the CEO of Permascand, expressed pride in receiving support from the DOE and emphasized their commitment to providing electrochemical solutions for the global green transition. The project will leverage Permascand's expertise in advanced technologies and machinery, creating employment opportunities for a skilled workforce to contribute to the DOE's efforts to lower the cost of hydrogen production. Out of over 800 concept papers submitted in the program's second round, Permascand's proposal was among the 140 projects selected by the DOE, highlighting the company's technological capabilities and competitive edge. The § 48C tax credit program aims to enhance U.S. industrial competitiveness and promote clean energy supply chains as the country moves towards a net-zero economy. It is designed to generate high-quality jobs, reduce industrial emissions, and boost the domestic production of essential clean energy products and materials. Clean hydrogen plays a significant role in this initiative, and the tax credit can be utilized for the manufacturing of electrolyzers, fuel cells, and related components. The emphasis is on decarbonization through clean hydrogen, aligning with national priorities. Overall, Permascand's recognition through this tax credit underscores the importance of investing in clean energy manufacturing and technology development, while also supporting the creation of sustainable jobs in the industry.