California Alternative Energy and Advanced Transportation Financing Authority Approves Tax Incentives for Element’s Lancaster Clean Energy Center
HOUSTON–(BUSINESS WIRE)–Element Resource is pleased to announce that the California Alternative Energy and Advanced Transportation Financing Authority (CAEATFA) has approved a significant award involving sales and use tax exclusion incentives for our Lancaster Clean Energy Center. This strategic initiative represents a major advancement in California’s commitment to clean energy solutions and sustainable economic growth.
The award will help facilitate the construction of the Lancaster Clean Energy Center, a cutting-edge green hydrogen production facility. This facility is designed to revolutionize the clean energy sector, and the award will support the acquisition of essential equipment, including electrolyzers, long-duration battery storage, and hydrogen liquefaction units. These components are critical to the successful operation and efficiency of Lancaster Clean Energy Center.
“We are honored to receive this award from CAEATFA,” said Avery Barnebey, Chief Financial Officer of Element Resources. “Lancaster Clean Energy Center marks a significant step in our commitment to green hydrogen production and sustainability. This support accelerates our efforts to reduce carbon emissions and positively impact the local community through job creation and innovation.”
Element’s selection followed a highly competitive application process that rigorously evaluated the project’s environmental benefits and its broader impact on the local California community. Lancaster Clean Energy Center is poised to deliver substantial environmental advantages, contributing to the reduction of carbon emissions and the advancement of renewable energy sources. Additionally, the project promises to bring economic benefits to the Lancaster area, including job creation and technological innovation.
Element’s Lancaster Clean Energy Center is expected to set a new standard for green hydrogen production, showcasing California’s leadership in the transition to renewable energy. The project underscores the importance of collaborative efforts between public and private sectors to achieve shared sustainability goals.
For more information about Lancaster Clean Energy Center, please contact [email protected].
About Element Resources
Element Resources Inc. is a development company focused on the production of 100% Green Hydrogen. Based in Houston, TX, Element supports its numerous California initiatives from its San Diego office. The company’s key personnel have over 100 years’ energy sector development experience. Element selectively invests in hydrogen-related technologies that enable production of zero carbon fuel and holds patents for large capacity, low-cost underground hydrogen storage and advanced, lower-cost hydrogen electrolyzer catalysts. For more information on this project or Element Resources, please email [email protected].
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