FuelCell Energy Applauds the Extension of the U.S. Carbon Oxide Sequestration Credit
FuelCell Energy, Inc. (FCEL)
Last fuelcell energy, inc. earnings: 3/16 07:00 am
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Source: GlobeNewswire
Increases the value of carbon capture creditsEliminates cap on amount of available creditsExtends credits to industrial re-use of CO2, sequestration and enhanced oil recovery DANBURY, Conn., March 07, 2018 (GLOBE NEWSWIRE) -- FuelCell Energy, Inc. (Nasdaq:FCEL), a global leader in delivering clean, innovative and affordable fuel cell solutions for the supply, recovery and storage of energy, applauds the extension of the carbon oxide sequestration credit included in the Bipartisan Budget Act of 2018. Known as the 45Q bill, it will give a credit of up to $50 per ton for CO2 that is sequestered and up to $35 a ton for CO2 that is re-utilized. Businesses would have 12 years to take advantage of the credits and no limit would exist on the amount of CO2 that can be sequestered or re-used. The original bill, passed in 2009, was enacted at $10 per metric ton and capped at 75 million metric tons. The new legislation also extends the tax credit to industrial utilization of cap
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