Emerging technologies, business models, and government incentives are driving the production, distribution, and deployment of hydrogen in 2023. Foley & Lardner is leading the pack with a deep bench of experts able to provide clients a comprehensive toolbox of legal resources for getting – and staying – ahead, with the attorneys that can move technologies and projects through development and financing to commercial deployment, construction and commercial operation.
Foley’s Track Record Making Hydrogen Work for Clients:
- Our attorneys work with startups, government laboratories, universities and major multinational corporations at all points along the supply chain to help clients protect and leverage their intellectual property, including patent applications for innovative hydrogen technologies and applications.
- Foley’s corporate, transactional and project finance teams assist clients in the critical aspects of business structuring, joint ventures, project development, commercial contract negotiation, and financing of hydrogen components and production plants.
- Our energy and environmental regulatory practices routinely navigate state and federal regulatory and permitting challenges for clients, such as the dizzying jurisdictional complexities unique to combined electric + hydrogen facilities.
- Foley is an acknowledged industry leader in the tax equity market for structuring energy and power project financings utilizing production tax credits and investment tax credits, including the new hydrogen production tax credit in the Inflation Reduction Act.
No matter the need, Foley is experienced in assessing each client’s unique circumstances to implement the right teams to perform due diligence, evaluate opportunities, assess risks and, ultimately put into perspective technology, market, and regulatory considerations that weigh directly on the bottom line – all with the end goal of helping our clients achieve their business objectives.
Recent Hydrogen Matters
Hydrogen is an emerging space, and Foley attorneys help pioneer the implementation of these projects across a new and ever-changing landscape. Representative matters include the following:
- Equipment Supply and O&M Contracts: Negotiated on behalf of a manufacturer of a fossil-free electrolyzer a master framework supply agreement and long-term service agreement for multiple gigawatts of electrolyzer plants with a large energy developer pairing renewable energy and hydrogen for various offtakers.
- Project Finance and Tax Equity: Advise clients on new and expanded tax credits included in the Inflation Reduction Act, including production tax credits for qualified hydrogen facilities.
- Joint Ventures: Represented global developer of hydrogen production facilities in negotiations with project sponsors and financing parties for deployment of largescale hydrogen plants and hubs in the United States and worldwide.
- Outside General Counsel: Serve as outside general counsel to a startup company with technology capable of producing hydrogen from renewable and non-renewable resources – allowing its clients to de-carbonize their operations. Projects include negotiating joint venture term sheets, offtake agreements and securing venture capital financing.
- Venture Capital: Represented TDK Ventures Inc. as lead investor in green hydrogen-electrolysis startup Verdagy, developer of its “eDynamic™” electrolyzer for large-scale green hydrogen production.
- Corporate Structuring: Assist start-up with strategic re-structuring of product supply and services into manufacturing parent subsidiaries to streamline market offerings in advance of electrolyzer manufacturing expansion.
- Emerging Enterprises: Refine corporate structure of innovative hydrogen startup and optimize corporate compensation for rapid growth and investment.
- Intellectual Property: Protect client’s intellectual property through patent application for systems and methods for the production of hydrogen using fuel cells.
- Public Affairs: Advise various clients through Foley’s Public Affairs Team in navigating the U.S. Department of Energy’s $7 billion Regional Clean Hydrogen Hubs program to pursue federal funding opportunities.
- Regulatory & Permitting: Advise hydrogen fuel cell client on state and federal regulatory matters to develop and expand hydrogen transportation infrastructure in California and throughout the United States.