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Gen2 Energy hydrogen projects supported with tax relief deal
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.

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