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Area Development - Site Selection, Facility Planning and Workforce Development

Denmark-Based Topsoe Plans Chesterfield County, Virginia, Operations

04/26/2024
Denmark-based Topsoe, a manufacturer of solid oxide electrolyzer cells, a crucial component for producing clean hydrogen, plans to establish operations in Chesterfield County, Virginia. The more than $400 million project is expected to create approximately 150 jobs.

The investment will include the construction of a new manufacturing facility.

“We are thrilled to announce our plans for a new state-of the art US facility that will manufacture Solid Oxide Electrolyzer Cell stacks (SOEC), the key element to the world’s most efficient electrolyzer technology for producing clean hydrogen,” said Roeland Baan, CEO of Topsoe. “Through legislation like the Inflation Reduction Act and strong support from individual states such as Virginia, the US government is helping to accelerate the clean energy transition. With our strong dedication to innovation, we will help the US achieve its goals of driving down the cost of clean hydrogen and delivering clean energy jobs.”

The project is being supported by $136 million in tax credits from the Inflation Reduction Act. Topsoe received a tax credit through the DOE’s Advanced Energy Project Credit (48C) program, which was expanded as part of the IRA. The 48C tax credit covers 30 percent of the amount invested in new or upgraded facilities that build renewable energy components. The IRA included a set-aside in the 48C program for coal communities, which Chesterfield qualified for due to the retirement of a nearby coal-fired electric generating unit.

“I am thrilled that Topsoe has chosen the great commonwealth of Virginia for its new, state-of-the-art factory that will be key to scaling clean hydrogen production,” noted Governor Glenn Youngkin. “Virginia’s robust workforce, strategic location and top business climate provide the necessary tools for Topsoe to continue to grow as a leader in the clean energy industry.”

“Chesterfield is pleased to be the location for Topsoe’s largest U.S. investment on record,” added Matt McLaren, deputy director of business attraction for Chesterfield Economic Development. “This announcement builds upon previous investments from leading international firms, and we look forward to announcing more details of this project in the coming weeks.”

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