Virginia Gov. Glenn Youngkin formally announced Wednesday that Topsoe, a Danish manufacturer of carbon emission reduction technologies, plans to invest $400 million to build a factory at Chesterfield County’s Meadowville Technology Park.
Topsoe first announced its plans for the facility last month. Youngkin said Wednesday that federal tax credits from the Department of Energy — valued at $136 million — will support the construction, which is pegged as Topsoe’s largest-ever U.S. investment. The project is expected to create 150 jobs.
Topsoe offers solutions for transforming renewable resources into fuels and chemicals. At its Chesterfield factory, it will manufacture Solid Oxide Electrolyzer Cell stacks, which help produce renewable or “green” hydrogen.
Youngkin approved a $6 million grant from the Commonwealth Opportunity Fund to assist Chesterfield County in its efforts to land the factory. The Virginia Economic Development Partnership and Greater Richmond Partnership worked with Chesterfield on the economic development project.
Topsoe is also eligible to receive benefits from the Port of Virginia Economic and Infrastructure Development Zone Grant Program, according to the governor’s office. The Virginia Talent Accelerator Program also will support job creation and training related to the factory.
“With our strong dedication to scientific research and innovation, we will help the U.S. achieve its goals of driving down the cost of clean hydrogen and delivering clean energy jobs,” Topsoe CEO Roeland Baan said in a statement. “Our collaboration with Virginia is just beginning.”
Topsoe also plans to launch a program where it will award five one-year scholarships worth $10,000 to high school seniors in Chesterfield County pursuing a STEM-focused major in college.
Topsoe isn’t the only Danish company to announce plans to set up shop in Meadowville Technology Park in recent years. Denmark’s Lego Group is building a $1 billion factory for its toy bricks there. Plenty Unlimited Inc., a Bay Area indoor agriculture company, is also building a $300 million vertical farming campus at the park.
