# LS Cable & System receives $99M U.S. tax credit for submarine cable business

LS Cable & System announced it will receive a $99.06 million investment tax credit from the U.S. Department of Energy under the IRA to support its submarine cable business in the U.S., with a factory site and investment scale under final review.

- Type: Investment
- Announced: 2024-04-20
- Where: United States
- Value: $99.1M
- Status: announced
- Products: submarine cables
- Sectors: [Power Generation Equipment](https://endata.com/sectors/power-generation-equipment.md)

## Companies

- [LS Cable & System](https://endata.com/companies/21025.md)
- [LS Greenlink](https://endata.com/companies/76937.md) (partner)

## Sources

- [lscns.co.kr](https://www.lscns.co.kr/en/pr/news_view.asp?brd_id=news1&idx=117829&lang_cd=en&mode=MOD), 2024-04-20: "With this decision, we can start investing in the U.S. submarine cable business."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.