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Gen2 Energy hydrogen projects supported with tax relief deal

Gen2 Energy hydrogen projects supported with tax relief deal

Gen2 Energy is continuing to work on its container and vessel solutions to support the green hydrogen supply chain – and the company has now been granted tax relief of up to NOK 7.7m ($900,000) to push forward such effort.

The Norwegian Research Council (NRC) today (Oct 5) approved two multi-year SkatteFUNN projects for the company, meaning Gen2 Energy can claim deduction for relevant and documentable costs related to research and development activities from 2021 to 2023.

As a result of the support, Gen2 Energy’s work on a novel container, suitable for large volumes of compressed hydrogen, can move forward. The company is currently looking to develop solutions for maximising tank capacity with low carbon materials.

On the news, Svein-Erik Figved, Director of RDI in Gen2 Energy, said, “The R&D project approvals from the Norwegian Research Council confirms that Gen2 Energy is a knowledgeable-based frontrunner in the hydrogen race in Norway when it comes to R&S activities.

“Gen2 Energy’s innovative solutions for transporting and delivering large volumes of green hydrogen are based on targeted research activities.”

Jonas Meyer, CEO in Gen2 Energy, added, “By creating new knowledge based on research activities and developing cost-effective solutions for transporting and delivering large volumes of containerised compressed hydrogen, Gen2 Energy is substantially improving their position in serving the growing markets in Europe with green hydrogen.”

US DOE, General Motors, Microsoft and Plug Power

What does the US Department of Energy (DOE), General Motors, Microsoft and Plug Power have in common? They’re all speaking at H2 View’s North American Virtual Hydrogen Event in October. Will you be joining us on October 19?

North America is in a prime position to lead efforts in decarbonisation, but it still has great distances to travel. The region has been giving chase in a race to green hydrogen dominated by Europe and Asia-Pacific. If policymakers and industry can work together and take the right steps to realise a hydrogen vision, the region is perfectly placed to expand its global energy leadership at scale and speed.

What lessons can be learned from Europe’s policymakers? What are the challenges to be overcome? What are the strengths and opportunities? How can North America go from giving chase to taking a lead in hydrogen? These are all questions our virtual event will address across H2 View’s four pillars of Mobility, Power, Policy and Technology.

Further information on the event, agenda and confirmed speakers can be found here.

To book your virtual delegate pass, click here.


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