Cooper Industries plc (CBE) announced that its Cooper Power Systems unit is the recipient of $1.3 million in recovery act advanced energy manufacturing tax credits awarded by President Obama and the White House for clean energy manufacturing projects across the U.S.
The credits are part of a $2.3 billion package, recognizing one hundred eighty three projects in 43 states, all of which are designed to create high-quality, clean energy jobs and enhance the manufacturing of clean energy technologies including solar, wind and efficiency & energy management.
The Cooper projects for which the tax credits were awarded include about $846 thosuand for modification of the company's manufacturing facility in Waukesha, Wisconsin, allowing it to produce higher-efficiency transformers. The high efficiency transformers are expected to reduce energy consumption by over 30% as compared to traditional transformers. By 2013, the company estimates the Waukesha project will save customers who choose these products over 60 million kWh/year and approximately 41,592 metric tons of CO2.
Cooper also received about $496 thousand tax credit for modification of the company's facility in Nacogdoches, Texas, allowing it to produce electrical transformers with amorphous steel cores.
By 2013, the company estimates the Nacogdoches project will save customers who utilize this technology more than 5.3 million kWh/year and 3,840 metric tons of CO2.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.