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Pyka awarded $7M California tax credit to expand manufacturing of zero-emission autonomous aircraft

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Pyka, a developer of autonomous electric aviation technology, was awarded a $7-million California Competes Tax Credit with the California Governor’s Office of Business and Economic Development (GO-Biz), approved last week by the California Competes Tax Credit Committee.

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IRS seeks feedback on clean hydrogen production tax credit

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The US Department of the Treasury and the Internal Revenue Service (IRS) have released three notices requesting public input on several tax credit provisions in the Inflation Reduction Act (IRA). These include: Credits for Clean Hydrogen Production (45V) and Clean Fuel Production (45Z) ( Notice 2022-58 ).

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Biofuel and Ag organizations call for accountable life cycle analysis for SAF tax credits, DOE to lead

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In an effort to decarbonize transportation and reduce aviation emissions, Congress is considering new legislation to establish a tax credit to promote and develop robust domestic SAF production. We recognize the importance of decarbonizing the aviation sector with low carbon liquid fuels.

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Inflation Reduction Act mandates escalating battery critical mineral requirements to qualify for EV tax credit

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The Inflation Reduction Act , which the Senate passed last week, revamps the electric vehicle Federal tax credit of $7,500 ( earlier post ). Among the changes are an extension of the tax credit through 2032, the removal of the unit-sales cap of 200,000 per OEM, and a new mandate for qualified cars being assembled in North America.

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Lawmakers introduce bill to provide blender’s tax credit for Sustainable Aviation Fuel

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of global carbon emissions. The Sustainable Skies Act aims to cut aviation’s carbon emissions in half. The legislation would create a tax credit starting at $1.50 In order to incentivize innovation and greater reductions in greenhouse gas emissions, the legislation provides an additional credit of $0.01/gallon

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BNEF: global carbon capture capacity due to rise sixfold by 2030

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The global capacity for carbon capture in 2030 is set to increase sixfold from today’s level, to 279 million tons of CO 2 captured per year, according to research company BloombergNEF’s (BNEF) newly released 2022 CCUS Market Outlook. The amount of CO 2 being captured today is 43 million tons, or 0.1% of global emissions.

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Topsoe and Fidelis New Energy partner to produce carbon-neutral hydrogen

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Topsoe and Fidelis New Energy have entered into a global alliance for technology used for producing carbon-neutral hydrogen. The alliance pairs Topsoe’s hydrogen process portfolio with FidelisH2 technology for reduction of lifecycle carbon emissions in hydrogen production.

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