April 8 (Reuters) - Fuel-cell manufacturer Bloom Energy ( BE )

will receive up to $75 million in federal tax credits for

its manufacturing plant in Fremont, California, the clean-energy

company said on Monday as it looks to expand capacity.

The funding is part of the $4 billion tax credits recently

unveiled by the Biden Administration to speed up domestic clean

energy manufacturing and reduce greenhouse gas emissions at

industrial facilities.

"These funds will enable us to invest in the operational

efficiency of our Fremont facility and accelerate the expansion

of our stack capacity," said CEO KR Sridhar.

Bloom's Fremont plant, which opened in 2022, can produce

more than 1 gigawatt annual output, equivalent to the capacity

of adding a nuclear power plant every year, according to the

company.

Bloom Energy's ( BE ) shares fell in February after it forecast

2024 revenue below analysts' estimates and announced the

departure of its Chief Financial Officer Greg Cameron.