Pennsylvania Governor Josh Shapiro announced that California-based energy storage company Verne Inc. will open its first manufacturing facility in the Keystone State.
The $4.5 million project will open up at least 61 full-time jobs in Lycoming County.
Verne developed a process to increase hydrogen’s density by storing the gas in a cold and compressed state, making it easier to transport in larger volumes. The company will partner with local manufacturers to leverage their expertise in critical processes.
The Commonwealth is investing over $1.27 million to support the project. Additionally, the Department of Community and Economic Development (DCED) supplied funding, including a $1 million Pennsylvania Industrial Development Authority (PIDA) loan, a $153,000 Pennsylvania First grant, and a $122,000 WEDnetPA grant for the purpose of employee training.
Verne can also apply for Research and Development tax credits for additional benefits.
“My Administration is proud to win deals like this that strengthen our local communities, grow our manufacturing sector, and position Pennsylvania as a national leader in innovation and job creation. We’re competing aggressively for private sector investment — and Pennsylvania is open for business,” said Governor Shapiro, in a statement.
Learn more here.