Plug Power Inc., a global leader in hydrogen solutions, increased its liquidity by approximately $30 million through the transfer of the Federal Investment Tax Credit (ITC) to a major investor. This move, made on January 24, 2025, marked Plug's first use of the transferability rules under the Inflation Reduction Act of 2022. The ITC transfer, related to hydrogen storage and liquefaction assets, aligns with Plug's focus on green hydrogen. The company's plant in Woodbine, Georgia, which began production in early 2024, played a significant role in securing these tax credits. Plug's CFO highlighted the benefits of leveraging tax credit transferability to offset investments, providing liquidity and reducing future fuel costs. CEO Andy Marsh expressed excitement about advancing the green hydrogen industry and leveraging tax credits for growth, energy independence, and job creation. The strategic utilization of tax credit transferability provisions underscores Plug Power's commitment to clean energy investments and collaboration with policymakers for energy transition and innovation.