The Vancouver-based company will build up to 20,000 fuel-cell engines per year in Rockwall, near Texas’s Gulf Coast hydrogen hub. It will invest about US$160 million in building the plant, and will get US$40 million in grants from the U.S. Department of Energy to support the project. The facility will also receive an unspecified amount of financial incentives from the Rockwall Economic Development Corporation, which valued Ballard’s total investment in the region at US$200 million. (The Logic)
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The Vancouver-based company will build up to 20,000 fuel-cell engines per year in Rockwall, near Texas’s Gulf Coast hydrogen hub. It will invest about US$160 million in building the plant, and will get US$40 million in grants from the U.S. Department of Energy to support the project. The facility will also receive an unspecified amount of financial incentives from the Rockwall Economic Development Corporation, which valued Ballard’s total investment in the region at US$200 million. (The Logic)
Talking point: The U.S. government’s support is a vote of confidence for the Canadian firm, which makes fuel cells for buses, trucks, trains, marine vessels and energy storage. In its fourth-quarter earnings report earlier this week Ballard said it faced “financing and program delays,” though CEO Randy MacEwen also said he saw an “increasingly constructive policy environment.” Ballard’s grant comes after fellow Vancouver-based energy-tech supplier Lithium Americas received a mammoth US$2.26-billion Energy Department loan this week.
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