Green Hydrogen – California Alternative Energy and Advanced Transportation Financing Authority approves tax incentives for Element’s Lancaster Clean Energy Center.
Element Resource is pleased to announce that the California Alternative Energy and Advanced Transportation Financing Authority (CAEATFA) has approved a significant award of sales and use tax exemption incentives for our Lancaster Clean Energy Center. This strategic initiative represents a major step forward in California’s commitment to clean energy solutions and sustainable economic growth.
The award will facilitate the construction of the Lancaster Clean Energy Center, a state-of-the-art green hydrogen production facility. This facility is set to revolutionize the clean energy sector and the award will support the acquisition of key equipment including electrolyzers, long-duration battery storage and hydrogen liquefaction plants. These components are critical to the successful operation and efficiency of the Lancaster Clean Energy Center.
Avery Barnebey, Element Resources Chief Financial Officer said:
We are honored to receive this award from CAEATFA.
“The Lancaster Clean Energy Center is an important step in our commitment to green hydrogen production and sustainability. This support accelerates our efforts to reduce carbon emissions and make a positive impact on the local community through job creation and innovation.”
Element’s selection followed a highly competitive application process that rigorously reviewed the project’s environmental benefits and its broader impact on the local California community. The Lancaster Clean Energy Center will provide significant environmental benefits and help reduce carbon emissions and promote renewable energy sources. In addition, the project promises economic benefits for the Lancaster region, including job creation and technological innovation.
Element’s Lancaster Clean Energy Center is designed to set a new standard for green hydrogen production and demonstrate California’s leadership in the transition to renewable energy. The project highlights the importance of collaborative efforts between the public and private sectors to achieve shared sustainability goals.
READ the latest news on the hydrogen market at Hydrogen Central
Green Hydrogen – California Alternative Energy and Advanced Transportation Financing Authority approves tax incentives for Element’s Lancaster Clean Energy Center. Source
