Nel ASA: Receives additional USD 75 million in support for Michigan facility
OSLO, Norway, March 13, 2024 /PRNewswire/ -- Nel ASA (Nel) (OSE: NEL) - The US Department of Energy (DOE) and the state of Michigan have awarded a collective USD 75 million in cash incentives and grants for Nel's next electrolyser production facility in Michigan.
- OSLO, Norway, March 13, 2024 /PRNewswire/ -- Nel ASA (Nel) (OSE: NEL) - The US Department of Energy (DOE) and the state of Michigan have awarded a collective USD 75 million in cash incentives and grants for Nel's next electrolyser production facility in Michigan.
- On 13 March, the Department of Energy announced that they have granted Nel USD 50 million in direct investment support for the company's planned new US gigafactory and workforce development initiatives in the Detroit region.
- In parallel, the state of Michigan awarded USD 25 million in direct investment support to lead the nation in the clean energy transition.
- Nel has previously been awarded approximately USD 50 million from the state of Michigan in support of this electrolyser production facility (see the press release issued on 8 July 2023).