Expanded operations for SFC Energy AG in North America as they establish competency centers for hydrogen fuel cells in Calgary and Toronto, Canada.
Canada's federal government is throwing its weight behind clean technology investments, offering a range of incentives to support the growth of hydrogen fuel cell technology.
The Clean Technology Investment Tax Credit (ITC) provides a refundable tax credit of up to 30% of capital invested in new clean technology assets, including equipment related to clean electricity and zero-emission technologies. Although solar, wind, hydroelectric, geothermal, and zero-emission non-road vehicles are explicitly listed, hydrogen fuel cell technologies are typically included given their role in zero-emission solutions.
The government has committed $34 billion in clean energy tax credits, facilitating decarbonization and infrastructure development, including hydrogen production and electrification projects. Projected federal support includes legislation to finalize clean electricity investment tax credits by the end of 2025, which will further stimulate investments in clean power generation projects, likely benefiting hydrogen fuel initiatives linked to clean electricity production or storage.
Additional government initiatives such as loan guarantees totaling $10 billion and partnerships with Indigenous equity groups help accelerate clean energy development, including hydrogen energy sectors.
In the private sector, SFC Energy, a leading supplier of hydrogen and methanol fuel cells, has opened two competence centers for hydrogen fuel cell technology in Calgary and Toronto, Canada. The new presence in Toronto is intended to strengthen SFC's partnership with Schneider Electric in the industrial markets, address new customer groups for hydrogen products, and overall strengthen SFC Energy's North American business.
SFC Energy AG's CEO, Dr. Peter Podesser, stated that Canada has been a home market for decades and that the company finds both customers who are open to innovation and the energy transition, a long tradition in hydrogen and fuel cell technology, and governments at all levels who support it.
The opening of these centers provides access to significant market potential, new customer groups, and attractive government incentive schemes. The Canadian government recently announced a massive incentive program of CAD 80 billion in tax credits for clean technology over the next decade, including CAD 25 billion for investments in clean electricity.
SFC Energy is offering its entire Automation and Instrumentation product range to customers in partnership with Schneider Electric. Interested parties can learn about the company and the newly opened competence centers at SFC Energy's booth at the Canadian Hydrogen Convention (CHC) in Edmonton/Alberta, which remains open until April 27.
Canada's long tradition in hydrogen (fuel cell) technology and its leadership in this field make it an attractive market for clean technology companies like SFC Energy. The company, listed on the Deutsche Boerse Prime Standard and part of the selection index SDAX since 2022, is a leading provider of hydrogen and direct methanol fuel cells for stationary and mobile hybrid power solutions.
References:
- Government of Canada. (2022). Budget 2022: Investing in a Strong, Sustainable Recovery. Retrieved from https://www.budget.gc.ca/2022/docs/plan/chap-en.html
- Government of Canada. (2021). Clean Technology Investment Tax Credit. Retrieved from https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/clean-technology/clean-technology-investment-tax-credit.html
- Government of Canada. (2022). Clean Energy for a Stronger Canada Plan. Retrieved from https://www.canada.ca/en/services/environment/weather/clean-energy-stronger-canada-plan.html
- Government of Canada. (2022). Budget 2021: Investing in the Recovery, Growth, and Innovation of the Clean Energy Sector. Retrieved from https://www.canada.ca/en/budget/2021/documents/budget-2021-en.pdf
- Government of Canada. (2022). Canada's Net-Zero Emissions Accountability Act. Retrieved from https://www.parl.ca/DocumentViewer/en/43-2/bill/C-27/first-reading
1) The Canadian government has established the Clean Technology Investment Tax Credit (ITC), offering a 30% refundable tax credit for investments in clean technology assets, such as hydrogen fuel cell technology.2) SFC Energy, a leading hydrogen and fuel cell technology supplier, has expanded its presence in Canada with the opening of two competence centers in Calgary and Toronto, aiming to grow its business in the industrial market and strengthen partnerships with Schneider Electric.3) The Canadian government has announced a CAD 80 billion incentive program for clean technology over the next decade, including CAD 25 billion for investments in clean electricity, making Canada an attractive market for clean technology companies.4) As part of Canada's commitment to decarbonization and infrastructure development, the government has allocated $34 billion in clean energy tax credits, supporting hydrogen production and electrification projects. This includes legislation to finalize clean electricity investment tax credits by the end of 2025.
