Danish green energy company coming to Virginia

(The Center Square) — The Danish green energy company Topsoe plans to make its largest U.S. investment to date in the commonwealth, according to an announcement from the governor Wednesday.

The deal would bring a $400 million new factory to Chesterfield County, potentially creating 150 new jobs, pending a final investment decision. Topsoe also plans to start a scholarship program awarding $10,000 to five Chesterfield high school students each year who intend to pursue a STEM-related field in college.

The company manufactures “advanced, energy-efficient Solid Oxide Electrolyzer Cells that are essential in the production of clean hydrogen,” according to a press release from the governor’s office.

Gov. Glenn Youngkin lauded the investment from overseas, where he is visiting Germany, Denmark, Finland and Switzerland on his third international trade mission.

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

- Advertisement -

Taxpayer dollars at the federal and state levels will help support the project. Through the Qualifying Advanced Energy Project Credit, Topsoe will receive federal tax credits from the U.S. Department of Energy. Topsoe is eligible for additional funding through a Port of Virginia grant program, and the Virginia Talent Accelerator Program will help with recruitment and training services at no cost to the company. Chesterfield County received a $6 million grant from the Commonwealth Opportunity Fund to assist in facilitating the project.

Topsoe CEO Roeland Baan said the company’s “collaboration with Virginia is just beginning.”

“The U.S. is positioning itself as a clean energy leader, and with strong support from individual states like Virginia, the country’s clean energy future looks bright. With our strong dedication to scientific research and innovation, we will help the U.S. achieve its goals of driving down the cost of clean hydrogen and delivering clean energy jobs,” Baan said in a statement.

Hot this week

African and Caribbean Nations Call for Reparations for Slave Trade, Propose Global Fund

Nations across Africa and the Caribbean, deeply impacted by...

Sports betting expert offers advice on paying taxes for gambling winnings

(The Center Square) – Tax season is underway, and...

Health care company agrees to pay $22.5 million to settle claims of over billing

A health care company agreed to pay nearly $22.5...

Entertainment district benefits don’t outweigh the cost, economists say

(The Center Square) — Weeks later, after more details...

Business association ‘disappointed’ by WA L&I’s proposed workers comp rate hike

(The Center Square) – The Association of Washington Business...

Controversial initiative bill gets mixed testimony

(The Center Square) – A Washington state bill that...

WATCH: Budget hawks react to Shapiro’s spending plan

(The Center Square) – Gov. Josh Shapiro's $51.4 billion...

Ohio’s specialized wildfire unit in California

(The Center Square) – Ohio firefighters are in California...

Louisiana sees significant gains in national education rankings

(The Center Square) − Louisiana has achieved its highest...

Advocate warns ‘lack of community care’ around Obama library in Chicago

(The Center Square) – A Black-owned concrete subcontractor tasked...

Phoenix school district’s financial woes trigger federal funding, state investigation

(The Center Square) – A Phoenix-area school district’s fate...

Idaho House passes school choice bill

(The Center Square) – The Idaho House on Friday...

U.S. business group calls for end to tariff threats

(The Center Square) – After days of high drama...

More like this
Related

Controversial initiative bill gets mixed testimony

(The Center Square) – A Washington state bill that...

WATCH: Budget hawks react to Shapiro’s spending plan

(The Center Square) – Gov. Josh Shapiro's $51.4 billion...

Ohio’s specialized wildfire unit in California

(The Center Square) – Ohio firefighters are in California...

Louisiana sees significant gains in national education rankings

(The Center Square) − Louisiana has achieved its highest...