The U.S. Department of the Treasury and Internal Revenue Service released final rules for the section 45V Clean Hydrogen Production Tax Credit

The US Department of Treasury (DOT) and the Internal Revenue Service (IRS) released on Friday final federal guidance on eligibility for income tax credits in the production of hydrogen established by the Inflation Reduction Act (IRA).

Shares of Oklo, NuScale Power and Nano Nuclear Energy rose Friday after the Treasury Department and Internal Revenue Service revised rules for hydrogen production tax credits. The three companies all are working on small modular nuclear reactors.

Hydrogen startups are widely seen as a promising way to eliminate fossil fuels from heavy industry and long-haul transportation. But they have been stuck in limbo for the last couple years, waiting for official guidance from the U.