Plug Power Raises $30 Million by Transferring Federal Investment Tax Credit

MT Newswires Live

2025/01/27

Plug Power (PLUG) said Monday it has increased its liquidity by transferring a $30 million Federal Investment Tax Credit to an investor with a track record of purchasing comparable credits.

The Jan. 24 transfer represents its first use of such a utility under the 2022 Inflation Reduction Act, the company said.

The company said it is leveraging the tax credit to offset some of its investment in hydrogen plants.

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