Mass Leads Act proposes a new ten-year strategy to make Massachusetts the climate innovation hub for the world

BOSTON - Today, Governor Maura T. Healey continued her Mass Leads Road Show with visits to Electric Hydrogen in Devens and Triton Anchor in Chelmsford. 

In Devens, she was joined by Congresswoman Lori Trahan, Secretary of Energy and Environmental Affairs Rebecca Tepper, Secretary of Economic Development Yvonne Hao, MassCEC CEO Emily Reichert and other industry leaders to celebrate the ribbon-cutting of Electric Hydrogen’s new gigafactory. Electric Hydrogen is a Massachusetts-based climatetech startup company that manufactures electrolyzers for green hydrogen production. They are designing electrolyzer systems to decarbonize critical industries such as steel, ammonia fertilizer, aviation, maritime shipping, chemicals, and heavy-duty transportation that account for about 20% of global GHG emissions. The company recently won two major awards from the U.S. Department of Energy: a $46 million grant from the Bipartisan Infrastructure Law to support the creation and deployment of American-made hydrogen and a Treasury tax credit for $18.3 million, funded by the Inflation Reduction Act, for its electrolyzer manufacturing facility in Devens. Electric Hydrogren is also among Time Magazine’s top 100 climate tech companies of 2024.

In Chelmsford, she stopped at Triton Anchor into highlight the state’s long-term vision to lead on clean energy and climate tech innovation. Triton Anchor is the leading developer of anchor floating offshore wind and marine renewable energy platforms. The company spun out of Triton Systems, a developer of technology-based solutions for growing markets in energy, biotech, and security, in 2022.

"Massachusetts is set to be a global leader in the climatetech, and both of these innovative and cutting-edge companties are excellent of examples of how we lead and what the climatetech industry means to our state,” said Governor Healey. “We believe in the mission of protecting our planet and our communities through innovative solutions, and we also believe in the opportunity this moment represents, to create great careers and drive our economy for generations to come. Our Mass Leads Act will support innovative companies like Triton and Electric Hydrogen and make Massachusetts the climate innovation hub for the world.”

“Electric Hydrogen is a Massachusetts success story – and it’s one that’s going to have a tremendous impact across the United States and around the world. That’s why we secured $46 million in federal funding to boost the manufacturing of their high-capacity electrolyzers that will be essential in the creation of green hydrogen necessary to decarbonize heavy industries,” said Congresswoman Trahan. “I’m proud to work alongside Governor Healey and her administration to support the Commonwealth’s incredible climate technology companies and their talented workers. Together, we’re committed to making sure climate tech isn’t just manufactured in America, but that it’s made right here in Massachusetts.”

“We’re fortunate to have Massachusetts businesses dedicated to combatting climate change. Triton and Electric Hydrogen’s contributions are ensuring that we lead in the offshore wind industry and green hydrogen sectors,” said Secretary of Economic Development Yvonne Hao. “Through our Mass Leads Act, we aim to support these companies and all others in Massachusetts in scaling towards greatness. Together as Team Massachusetts, we’re advancing our state’s competitiveness and sustainability.”

“Decarbonizing heavy industries such as steel, aviation, and maritime shipping is critical to reducing our global greenhouse gas emissions. Electric Hydrogen’s innovation is moving us closer to tackling this challenge right here in Massachusetts,” said Energy and Environmental Affairs Secretary Rebecca Tepper. “We have made New England the hub for the offshore wind industry, and Triton Anchor’s technology will help lower costs for cutting edge floating wind turbines. These two companies represent Massachusetts’ thriving climatetech industry. Our Mass Leads Act will maintain our competitiveness as the industry grows globally.”

Both of these visits are part of the Governor’s Mass Leads Act Road Show during which she is traveling to communities across Massachusetts to highlight the ways in which her recently proposed economic development bill will grow the state’s economy, support businesses and attract talent. The bill proposes a new ten-year, $1 billion strategy to make Massachusetts the climate innovation lab for the world, and includes a framework for capital, tax incentives, and operations. 

“Our mission is to end fossil fuel use in heavy industry. We chose Devens for our first factory because of the incredible skilled workforce in Massachusetts and the environment Governor Healey, Representative Trahan, and the Congressional delegation are creating to help climate tech companies grow and create manufacturing jobs in Massachusetts,” said Raffi Garabedian, Electric Hydrogen Co-Founder and CEO.

“Triton Anchor is grateful for the support of the Governor and the Mass CEC”, said David Model, Managing Director of Triton Anchor and COO of Triton Systems. “We have a 30 year history of innovation in Massachusetts, but bringing large capital intensive projects like floating offshore wind to reality requires a level of financial and infrastructural support well beyond one company.  We are excited to be part of the New Blue Economy, and Mas Leads will enable an entire ecosystem, from State support to our partner organizations around the Commonwealth.”

“The Town of Chelmsford fully-supports Governor Healey’s strategic investments in climate technology,” said Chelmsford Town Manager Paul Cohen. “Triton Anchor’s innovate offshore mooring system research and development has provided quality jobs in the Town’s Route 129 economic corridor.”  

Governor Healey is proposing a $1 billion, 10-year climatetech initiative to make Massachusetts the climate innovation lab for the world. The initiative would create jobs, support technology development and infrastructure to reduce emissions, and promote resilience locally. Massachusetts would be well positioned as a global leader in climatetech. The funds and programs would help companies start and scale in Massachusetts, creating well paying jobs across the state. The initiative has three core parts: 

1. Capital Funding: The bill would provide significant capital resources to MassCEC for the first time. Bond authorizations can support research and development, innovation, manufacturing, commercialization, and the deployment of climatetech technologies, including offshore wind, across Massachusetts. 

2. Tax Incentives: The bill would authorize funding for tax incentives, which will help ensure the state is competitive in attracting and retaining these businesses. The initiative proposes to establish a new Climatetech Tax Incentive Program to enable the state to invest in climatetech companies, expand employment opportunities and support research and development. The bill also seeks to continue implementation of the newly created Offshore Wind Tax Credit and proposes some strategic changes to further grow the program. 

3. Operating Funding: This ten-year strategy underscores the critical importance of annual operating support through the state budget process for MassCEC, which is instrumental in fostering the climatetech industry and training a clean energy workforce. Operating funds will enable MassCEC to deploy stable programming and initiatives to reach areas that capital programs and tax incentives aren’t able to reach. This includes workforce development initiatives, internships, strategic partnerships, and operations.

For more information about the Mass Leads Act, visit the Economic Development Bill website.