Nel ASA: Additional USD 41 million in tax credits for manufacturing expansion in Michigan
(April 4, 2024 - Oslo, Norway, Nel, OSE:NEL). Nel has been awarded up to USD 41 million in investment tax credits for its planned manufacturing expansion in Michigan as part of the Qualifying Advanced Energy Project Tax Credit (48C) program.“We continue to see strong support for our efforts to scale our US operations, both within advanced research and efficient manufacturing. The support now received increases the attractiveness of investing in expanding our capacity and capability in the US,” says Nel’s President and CEO, Håkon Volldal. The 48C program is funded by the Inflation