11 Firms Under Tech, Energy, Aviation Lead Friday Rally

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2. Oklo Inc. (NYSE:OKLO)

Shares of Oklo Inc. rose for a second day on Friday, alongside other nuclear and energy stocks, following news that portions of nuclear power plants would be eligible for tax credits to support clean hydrogen production.

The tax credits are expected to help prevent the closure of reactors by making it financially viable for plants to produce clean hydrogen.

The new tax credits, which were announced on Thursday, aimed to address several key issues to help grow the industry and move projects forward.

The final rules clarify how producers of hydrogen, including those using electricity from various sources, natural gas with carbon capture, renewable natural gas (RNG), and coal mine methane can determine eligibility for the credit. To qualify for the full credit, projects must also meet prevailing wage and apprenticeship standards, continuing the Biden-Harris Administration’s commitment to putting workers at the center of the clean energy economy and ensuring clean energy jobs are good-paying jobs.

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