DEVENS — Governor Maura Healey attended a ribbon-cutting ceremony at Electric Hydrogen’s new “gigafactory” in Devens on April 25, as part of her Mass Leads Road Show. The tour is designed to showcase the Mass Leads Act, which includes legislation for a 10-year extension of the Life Science Initiative and a new 10-year investment in “climatetech,” aiming to establish Massachusetts as a leader in the clean energy sector.
Also in attendance were Congresswoman Lori Trahan, Secretary of Energy and Environmental Affairs Rebecca Tepper, Secretary of Economic Development Yvonne Hao, among others.
“Massachusetts is set to be a global leader in climatetech, and both of these innovative and cutting-edge companies are excellent examples of how we lead and what the climatetech industry means to our state,” said Governor Healey. “We believe in the mission of protecting our planet and our communities through innovative solutions, and we also believe in the opportunity this moment represents, to create great careers and drive our economy for generations to come. Our Mass Leads Act will support innovative companies like Triton and Electric Hydrogen and make Massachusetts the climate innovation hub for the world.”
With companies like @Electric_H2, MA is perfectly positioned to become the climate lab of the world. No other state is as committed to backing our innovators so they can start, scale and succeed here. Congrats to Electric Hydrogen on your new manufacturing facility in Devens! pic.twitter.com/9N0Kmz7RJa
— Maura Healey (@MassGovernor) April 25, 2024
Electric Hydrogen, a climatetech startup based in Massachusetts, produces electrolyzers for green hydrogen production. According to Mass.gov, the company is focused on developing systems to reduce carbon emissions in essential industries like steel, ammonia fertilizer, aviation, maritime shipping, chemicals, and heavy-duty transportation, which together contribute to roughly 20% of global GHG emissions. Electric Hydrogen recently received two significant recognitions from the U.S. Department of Energy: a $46 million grant from the Bipartisan Infrastructure Law to aid in the development and deployment of American-made hydrogen, and an $18.3 million Treasury tax credit under the Inflation Reduction Act for its electrolyzer manufacturing facility in Devens. Additionally, Electric Hydrogen has been listed among Time Magazine’s top 100 climate tech companies of 2024.
“Electric Hydrogen is a Massachusetts success story – and it’s one that’s going to have a tremendous impact across the United States and around the world. That’s why we secured $46 million in federal funding to boost the manufacturing of their high-capacity electrolyzers that will be essential in the creation of green hydrogen necessary to decarbonize heavy industries,” said Congresswoman Trahan. “I’m proud to work alongside Governor Healey and her administration to support the Commonwealth’s incredible climate technology companies and their talented workers. Together, we’re committed to making sure climate tech isn’t just manufactured in America, but that it’s made right here in Massachusetts.”
The Mass Leads Act, which was filed on March 1, 2024, is a $1 billion, 10-year climatetech initiative aimed at transforming Massachusetts into a global hub for climate innovation. This initiative is designed to generate jobs, enhance technological development, reduce emissions, and boost local resilience, positioning Massachusetts as a leading force in the climatetech sector. The funding and programs will assist companies in starting and expanding within the state. The initiative includes three main components:
- Capital Funding: For the first time, the bill will allocate significant capital resources to MassCEC. This includes bond authorizations to support research and development, innovation, manufacturing, commercialization, and deployment of climatetech technologies like offshore wind throughout Massachusetts.
- Tax Incentives: The legislation proposes funding for tax incentives to keep Massachusetts competitive in attracting and retaining businesses. A new Climatetech Tax Incentive Program would be established to invest in climatetech companies, expand job opportunities, and support research and development. The bill also aims to enhance the newly introduced Offshore Wind Tax Credit and make strategic adjustments to expand the program.
- Operating Funding: Highlighting the importance of consistent annual operating support through the state budget, this strategy aims to empower MassCEC in driving the climatetech industry and training a clean energy workforce. Operating funds will support MassCEC in implementing stable programming and initiatives that extend beyond the reach of capital and tax incentive programs, including workforce development, internships, strategic partnerships, and operations.
