"We are excited to announce a tax credit transfer agreement with Crux and
Under the Inflation Reduction Act (IRA), the new transferable tax credit market allows clean energy developers and manufacturers to sell their tax credits to third parties for cash - creating a powerful market mechanism to channel private sector investments into energy infrastructure, innovative technologies and advanced manufacturing. Thin-film panel manufacturer
The purchase of Silfab's tax credits represents one of the transactions that the Schneider Sustainability Business has facilitated on behalf of its parent company. The Sustainability Business is similarly advising many other corporations on tax credit purchase opportunities, representing dozens of investors and billions in annual corporate tax liability.
"We are delighted to announce this transaction with Silfab and deeply appreciate the collaboration with Crux. Crux's platform adds transparency and visibility into market opportunities, adding to our robust process for sourcing for tax credits in the market for Schneider and our corporate clients. Our role is to help our clients know where to access the best possible tax credits, including with partners like Silfab and Crux, all while mitigating buyer risk; this transaction is a testament to that successful process," said
"Silfab was pleased to partner with Schneider to unlock the value of our advanced manufacturing tax credits," said
About
Schneider's purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On. Our mission is to be your digital partner for Sustainability and Efficiency. We drive digital transformation by integrating world-leading process and energy technologies, end-point to cloud connecting products, controls, software and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centers, infrastructure and industries.
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