Federal instrument · Tax credit

Section 48C tax credit allocation to e-VAC Magnetics, 2024

e-VAC Magnetics announced on April 9, 2024 that it had been awarded a $111.9 million Qualifying Advanced Energy Project Tax Credit (Section 48C) for construction of its first U.S. manufacturing facility in Sumter, South Carolina.

Facts on this page last re-verified Aug 11, 2026 — the oldest verification date among its current claims. How we verify.

Financial state: Obligated

Program: Qualifying Advanced Energy Project Credit (48C) · U.S. Department of the Treasury / IRS

Terms

Allocation	$111.9M (announced Qualifying Advanced Energy Project (Section 48C) tax credit award amount)

Immutable financial events

Apr 9, 2024 · Obligated

Operational milestones are displayed on the linked facility line, not duplicated in this ledger.

Sources

e-VAC Magnetics (PR Newswire) · published Apr 9, 2024 · retrieved Aug 11, 2026 · archive