Ballard to receive additional US federal funding for new facility in Texas
By Luke Willetts - 16th May 2024
USA / Canada – Ballard Power Systems Inc, a manufacturer of fuel cell systems based in Burnaby, British Columbia, has announced an additional USD 54 million in U.S. federal funding (investment tax credits) for its planned USD 200 million twenty-two acre fuel cell production Gigafactory (“Ballard Rockwall Giga 1”) in Rockwall, Texas. This brings the total federal funding to USD 94 million, through various U.S. departments including the U.S. Department of Energy’s (DOE) Hydrogen and Fuel Cell Technologies Office and now the Internal Revenue Service (IRS) as part of the Qualifying Advanced Energy Project Tax Credit (48C*), funded by the Inflation Reduction Act (IRA). Construction is set to begin in Q4 2024.
Randy MacEwen, Ballard’s President & Chief Executive Officer.
