Plug Power monetizes $39m ITC linked to Louisiana hydrogen plant
US hydrogen company Plug Power said it has executed a $44-million federal investment tax credit (ITC) transfer for its hydrogen liquefaction facility in St. Gabriel, Louisiana.
The company has closed a ITC sale for about $ 39.2 million linked to the facility, as part of its strategy to improve liquidity and optimize capital deployment, according to the report.
Under current regulations, hydrogen liquefaction and storage assets like this one qualify for the ITC, which can be transferred to third-party investors. Commissioned in April 2025, the St. Gabriel facility is capable of liquefying up to 15 tons of hydrogen per day. Plug currently operates hydrogen generation facilities in Georgia, Tennessee and Louisiana with a total of about 40 tons per day of liquid hydrogen production capacity, the report added.
“Plug continues to execute multiple capital efficiency initiatives designed to strengthen liquidity while supporting the scale-up of our hydrogen platform,” said CEO Jose Luis Crespo. “The monetisation of the St. Gabriel investment tax credit demonstrates our ability to leverage strategic infrastructure investments to enhance financial flexibility while continuing to build a vertically integrated hydrogen network across the United States.”
Category: Hydrogen
