Science and engineering company Twelve has shared that they have been awarded tax credits of up to $28.5 million through the 48C Investment Tax Credit program by the U.S. Department of Treasury Internal Revenue Service and the U.S. Department of Energy, marking Twelve’s first funding under the Inflation Reduction Act.
This investment will enable Twelve to expand production of their revolutionary Opus™ CO2 electrolyzer, which is an essential technology for converting carbon emissions and creating a variety of valuable products using only CO2, water, and sustainable energy sources.
The significant investment in this cutting-edge mechanism signifies the government’s commitment to supporting innovative solutions that address climate change and reduce carbon emissions.
Twelve’s innovative technology can transform CO2 into a wide range of valuable, carbon-based chemicals and materials, offering a viable alternative to traditional methods of reducing greenhouse gas emissions.
Relevant: Carbon Startup Twelve Establishes First Industry-Scale CO2 Transformation Platform
To produce the Opus units, the company will use its AirPlant™ facilities, where Power-to-Liquid (PtL) sustainable aviation fuel (SAF) and other CO2Made® chemicals are made. To scale up these AirPlant facilities across the country, Twelve needs to quickly enhance its in-house CO2 electrolyzer manufacturing capabilities.
The 48C allocation jumpstarts this effort by providing dedicated funding for Twelve’s first electrolyzer manufacturing facility, allowing for continued growth in skills and manufacturing capabilities for this groundbreaking technology.
With this financial boost, Twelve will develop and launch a pilot production facility for their Opus electrolyzer in Alameda, California. By establishing this facility, Twelve will solidify their position as a leading global producer of PEM CO2 electrolyzers, demonstrating the potential of their technology to transform the way we approach carbon emissions.
Read more: Twelve Launches First Commercial-Scale SAF Production Facility
The funding for the project comes as part of a larger initiative by the government to support projects like Twelve’s that are focused on addressing the CO2 footprint and climate damage.
Projects supported by the Bipartisan Infrastructure Law and the Inflation Reduction Act, such as program 48C, play a crucial role in advancing technologies like Twelve’s electrolyzer.
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