04:31 PM EDT, 04/08/2024 (MT Newswires) -- Bloom Energy ( BE ) said late Monday it has been awarded up to $75 million in federal tax credits for a project to expand domestic manufacturing and fuel cell and electrolyzer production capacity at its plant in Fremont, California.

The funding is part of $4 billion in tax credits that were recently disclosed by the US government under an initiative known as Qualifying Advanced Energy Project Tax Credit, the company said.

Bloom Energy ( BE ) shares were rising 3% in after-hours trading.

Price: 12.02, Change: +0.35, Percent Change: +3