Manufacturer Gets $75 Million in Tax Credits to Boost Fuel Cell Production

FREMONT, CA—Bloom Energy Inc. has been awarded up to $75 million in tax credits from the federal government to expand domestic manufacturing of solid oxide fuel cells at its assembly plant here.

The funding is part of the $4 billion in tax credits recently announced by the White House under the Qualifying Advanced Energy Project Tax Credit to accelerate domestic clean energy manufacturing and reduce greenhouse gas emissions at industrial facilities.

“These funds will enable us to invest in the operational efficiency of our Fremont facility and accelerate the expansion of our stack capacity, so that we can continue to deliver timely, resilient power solutions to our customers,” said KR Sridhar, founder, chairman and CEO of Bloom Energy.

Bloom’s Fremont manufacturing facility, which opened in 2022, expanded Bloom’s footprint to more than 524,000 square feet and has created hundreds of clean-energy jobs. The facility’s annual output can produce more than 1 gigawatt of power, the equivalent capacity of adding a nuclear power plant every year.

“The Qualifying Advanced Energy Project Tax Credit is a highly sought after government incentive that [has so far provided] financial support to over 100 projects across 35 states to accelerate domestic clean energy manufacturing and decarbonization,” said Bloom Chief Operating Officer Satish Chitoori. “The $75 million tax credit, equaling up to 30 percent of expenditures to expand the Fremont capacity, recognizes our commitment to scaling domestic manufacturing.”

Bloom’s fuel cells provide reliable, resilient, and sustainable energy to businesses and communities. The cells are based on a proprietary solid oxide technology and operate at high efficiency without combustion, allowing for flexible deployment and customization. The company has more than a gigawatt of installed capacity in the field.