The Biden administration signed the Inflation Reduction Act of 2022 into law, promising a suite of climate protections and investments in clean energy. Among these promises is a commitment to H₂ energy and fuel cell electric vehicles, creating high-quality jobs and accelerating the decarbonization of the U.S. economy from industry to mobility.

“The Inflation Reduction Act is a watershed piece of legislation,” said PDC Machines CEO Kareem Afzal. “This bill addresses two points of anxiety for Americans at once: the creation of high-quality jobs and the role of climate change in their daily lives. We can supercharge economic growth with jobs in the hydrogen sector while decarbonizing the U.S. economy, which the IPCC reports needs to be at net-zero by 2050 to avoid the worst scenario.”

“Hydrogen is one of the fastest growing technological sectors in green energy, and with this bill is poised to explode in size and viability. PDC Machines intends to be the tip of the spear in hydrogen with our industry-leading technologies and world-class workforce.”

The Inflation Reduction Act introduces a 10-yr tax credit for clean H₂ and H₂ energy storage, revises the clean vehicle credit to include H₂ fuel-cell vehicles, and expands the clean energy station tax credit, among other investments in clean energy.