A company that turns plastic waste and used tires into green hydrogen is seeking to invest $100 million to build processing plants in New Orleans and Iberia Parish that would create 250 jobs, reports NOLA.com.
The company, FusionOne, filed documents with Louisiana Economic Development earlier this month outlining its plans for the two facilities and requesting two state incentives: a property tax abatement under the state’s Industrial Tax Exemption Program and a Quality Jobs tax rebate.
If the company moves forward with the plans, the processing plants could be up and running by early 2025, according to the filing.
The company hopes to make a final investment decision on the project by the end of the first quarter of 2024 and potentially sooner, FusionOne Executive Vice President Mathew Emory said.
Green hydrogen is a cleaner burning form of hydrogen that has a lower carbon footprint than traditional fossil fuels and can be used to power plants and refineries. The hydrogen processing plants in Louisiana would be FusionOne’s first full-scale facility using the technology. Read more.