Plug Power Inc. enhanced its liquidity by approximately $30 million through the transfer of a Federal Investment Tax Credit (ITC) on January 24, 2025. This transaction involved a major investor with a history of purchasing comparable credits.
This marks Plug's first utilization of the transferability rules under the Inflation Reduction Act (IRA) of 2022 for hydrogen storage and liquefaction assets. The ITC was secured through Plug's investment in its green hydrogen plant in Woodbine, Georgia, which began production in early 2024.
The transaction demonstrates a key non-dilutive balance sheet leverage opportunity, setting a precedent for future ITC monetization. This strategic move is expected to reduce future fuel costs and support the continued buildout of Plug’s green hydrogen ecosystem.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.