(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.”
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.
