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Bullboard - Stock Discussion Forum Ballard Power Systems Inc T.BLDP

Alternate Symbol(s):  BLDP

Industrials
Ballard Power Systems Inc. is a proton exchange membrane (PEM) fuel cell power system development and commercialization. The Company’s principal business is the design, development, manufacture, sale and service of PEM fuel cell products for a variety of applications, focusing on power products for bus, truck, rail, marine, stationary and emerging market (material handling, off-road and other... see more

TSX:BLDP - Post Discussion

Ballard Power Systems Inc > Ballard announces $54 million of additional funding support
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Post by Betteryear2 on Apr 01, 2024 6:36pm

Ballard announces $54 million of additional funding support

VANCOUVER, BC and ROCKWALL, Texas, April 1, 2024 /PRNewswire/ - Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) announced it has been awarded $54 million of investment tax credits from the U.S. Internal Revenue Service as part of the Qualifying Advanced Energy Project Tax Credit (48C), funded by the Inflation Reduction Act (IRA). The 48C program, which provides 30% investment tax credits for selected clean energy manufacturing projects, is designed to support secure and resilient domestic clean energy supply chains. Ballard plans to use the $54 million in tax credits to support the build-out of a new fuel cell Gigafactory in Rockwall, Texas.

Ballard announces $54 million of additional funding support, bringing total U.S. federal funding to $94 million for Ballard's fuel cell Gigafactory in Texas (prnewswire.com)
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Ballard Power Systems Inc