DOE Announces $750 Million To Accelerate Clean Hydrogen Production

The Energy Department announced $750 million in funding for 52 projects across 24 states, including three in South Carolina, to drive U.S. leadership in clean-hydrogen production technologies and boost domestic manufacturing and supply chains.

The South Carolina projects include:

Clemson University

This project will accelerate the materials discovery, design, and manufacturing of oxide ion-conducting solid oxide electrolyzers via innovative machine learning, additive manufacturing, and laser sintering approaches.

The effort is expected to shorten the materials discovery and testing iteration period significantly and enable the testing of novel cell formulations and configurations.

Robert Bosch LLC (Anderson)

This project will enable domestic manufacturing of 20,000 fuel cell stacks per year by a world leader in high-throughput manufacturing. The project will demonstrate advanced manufacturing approaches and competitive fuel cell technology for heavy-duty transportation applications.

The project will leverage local community partnerships that will lead to the creation of more than 200 direct and 1,000 indirect jobs.

Tetramer Project Description (Pendleton)

This project will focus on further development, optimization, and validation of proton exchange membranes without perfluorinated materials. Research and development activities will focus on increasing membrane durability for high performance.

Officials said selected projects will leverage skills of American manufacturers, entrepreneurs, and researchers to improve electrolysis technologies and advance manufacturing and recycling capabilities for clean hydrogen systems and components. 

The officials said establishing a competitive, hydrogen industry is essential to accelerating the use of clean hydrogen — as laid out in the U.S. National Clean Hydrogen Strategy and Roadmap and coordinated by the Hydrogen Interagency Task Force.

The projects are expected to enable U.S. manufacturing capacity to produce 14 gigawatts of fuel cells per year, enough to power 15 percent of medium- and heavy-duty trucks sold each year, and 10 gigawatts of electrolyzers per year, enough to produce an additional 1.3 million tons of clean hydrogen per year.

Zeus Names New Chief Executive Officer

Zeus, the world's leading polymer extrusion and catheter design manufacturer, announced the appointment of Padraic "Paddy" O'Brien as chief executive officer, effective April 1, 2024.

Company officials said O'Brien joins Zeus at a pivotal moment as the company enters a new chapter of growth under EQT ownership.

O'Brien is currently Worldwide President of BD Peripheral Intervention at Becton, Dickinson, and Company (NYSE: BDX), a medical technology company focused on advancing clinical therapy for patients and clinical process for health care providers.

Before that, he held various leadership positions within BD, where he developed an extensive and consistent track record of delivering durable, sustainable growth while creating a winning culture.

From 2001-2016, he held a series of ascending management positions within Bard until BD acquired the company in December 2017.

O'Brien holds a bachelor’s degree in combined sciences (Biology and Chemistry) from Santa Clara University.

Ethan Waxman, partner within EQT Private Equity's Advisory Team, said: "We undertook an extensive search to find Zeus' next CEO, and Paddy's deep domain knowledge and experience make him perfectly suited to lead the company through this next phase of growth."

Waxman added, "We look forward to partnering with Paddy as we make significant investments in increased capacity, process improvement, and product innovation."

Zeus, headquartered in Orangeburg, South Carolina, employs over 2,400 people worldwide with facilities in Aiken, Columbia, Gaston, and Orangeburg, South Carolina; Branchburg, New Jersey; Chattanooga, Tennessee; San Jose, California; Arden Hills, Minnesota; and Letterkenny, Ireland.

Population Growth Drives Absorption, Lower Vacancy in Columbia

Retail in Columbia performed well in the fourth quarter of 2023 with overall healthy indications for 2024, according to Colliers, the largest full-service commercial real estate firm in South Carolina.

Net absorption increased from the third quarter of 2023 to 101,581 square feet as 12,575 square feet delivered, lowering vacancy to 5.40 percent.

Overall lease rates decreased to $22.62 per square foot as the construction pipeline slowed to 14,800 square feet under development.

Colliers officials said statewide growth and interest continue to increase and impact retail spaces in Columbia, which also benefits from the University of South Carolina and its centralized location in the state.

Auto Dealers Must Register With IRS to Receive Advance Payments of Clean Vehicle Tax Credit

To submit time-of-sale reports and receive advance payments of the Clean Vehicle Tax Credit, Internal Revenue Service officials say auto dealers and sellers must register their business with IRS Energy Credits Online. 

The officials say dealers and sellers must use this tool to submit all time-of-sale reports for vehicles placed in service in 2024 and future years.

To register or access a previously registered business, dealers and sellers can go to IRS Energy Credits Online.

The step-by-step instructions guide them through the process to register, submit time-of-sale reports and enter advance payment information. It may take 15 days or longer for the registration to process.

Once registered, dealers and sellers must use this tool to enter time-of-sale reports and provide the buyer certain required information.  

When a dealer successfully submits a time-of-sale report, the vehicle is eligible for the credit.

A submission is successful, IRS officials say, when the dealer receives a copy of the report and a confirmation of acceptance by IRS Energy Credits Online.

Buyers should use the copy of the report when they file their annual federal tax return.

Find out more about the Clean Vehicle Credits at IRS.gov/cleanvehicle.

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