Government Tax Credits	3 Months Ended
Mar. 31, 2026
Government Tax Credits
Government Tax Credits	18. Government Tax Credits Section 48 Investment Tax Credit for Qualified Fuel Cell Properties of Energy Storage Technologies As of March 31, 2026, the Company determined that it qualified for the Section 48 Investment Tax Credit (“ITC”) for Qualified Fuel Cell Properties of Energy Storage Technologies related to its hydrogen storage and liquefaction assets at its Louisiana hydrogen plant owned by Hidrogenii, the Company’s joint venture with Olin. A base rate credit of 6% is available to qualified energy storage property in the year that it is placed in-service, with availability of increased credit rates if the property qualifies. The Company determined that it qualified for a rate credit of 30%. As the ITC is considered a transferable tax credit, the Company accounts for it as a grant related to assets. Therefore, the ITC was recognized as a reduction to the Louisiana hydrogen production plant’s cost-basis, recognized within property, plant, and equipment, net in the unaudited interim condensed consolidated balance sheets, which will reduce future depreciation over the next 30 years. As of March 31, 2026, the balance of the ITC was $39.2 million and was recognized in prepaid expenses, tax credits, and other current assets in the unaudited interim condensed consolidated balance sheets.

Government Tax Credits

3 Months Ended

Mar. 31, 2026

18. Government Tax Credits

Section 48 Investment Tax Credit for Qualified Fuel Cell Properties of Energy Storage Technologies

As of March 31, 2026, the Company determined that it qualified for the Section 48 Investment Tax Credit (“ITC”) for Qualified Fuel Cell Properties of Energy Storage Technologies related to its hydrogen storage and liquefaction assets at its Louisiana hydrogen plant owned by Hidrogenii, the Company’s joint venture with Olin. A base rate credit of 6% is available to qualified energy storage property in the year that it is placed in-service, with availability of increased credit rates if the property qualifies. The Company determined that it qualified for a rate credit of 30%. As the ITC is considered a transferable tax credit, the Company accounts for it as a grant related to assets. Therefore, the ITC was recognized as a reduction to the Louisiana hydrogen production plant’s cost-basis, recognized within property, plant, and equipment, net in the unaudited interim condensed consolidated balance sheets, which will reduce future depreciation over the next 30 years. As of March 31, 2026, the balance of the ITC was $39.2 million and was recognized in prepaid expenses, tax credits, and other current assets in the unaudited interim condensed consolidated balance sheets.