Published by Todd Bush on August 18, 2023
SABUGO, Portugal, Aug. 17, 2023 (GLOBE NEWSWIRE) -- Fusion Fuel (NASDAQ: HTOO) announced today that it has submitted three projects to the H2 Pioneers II program, the second such funding call for innovative green hydrogen projects within the framework of the Spanish Recovery, Transformation and Resilience Plan (PERTE).
H2 Pioneers II has been allocated €150 million to support the implementation of innovative projects that combine the production and local consumption of renewable hydrogen, in particular for hard-to-abate sectors like industry and heavy mobility. Fusion Fuel had previously been awarded €3.3 million in grant funding in the inaugural H2 Pioneers funding call earlier this year.
The three projects, which have a cumulative electrolysis capacity of approximately 13 MW, would be powered by Fusion Fuel's cutting-edge HC-Series NC technology, the company's modular centralized PEM electrolyzer. Fusion Fuel has secured offtake and power purchase agreements for all three projects, which would produce over 1,500 tonnes of green hydrogen per annum in total. The company has requested €24.7 million in subsidies across the three projects.
>> Additional Reading: Fusion Fuel Announces Strategic Partnership with Elemental Clean Fuels, Strengthens Foothold in North American Green Hydrogen Market
Commenting on the agreement, Javier Esteban, CEO of Fusion Fuel Spain, stated, 'I am thrilled to announce the submission of these three pioneering projects to the PERTE funding call in Spain, initiatives that reflect our unwavering commitment to leading the energy transition. With the support of our partners and our market-leading green hydrogen technology, we can turn these ambitious ideas into transformative projects, paving the way for meaningful progress in Spain and beyond.'
Frederico Chaves, CEO of Fusion Fuel, added, 'These project submissions are a continuation of a commercial strategy we have employed very successfully since our inception, one which has resulted in Fusion Fuel capturing over €60 million in grant funding for our own green hydrogen projects. Having secured both hydrogen offtake and power purchase agreements for these opportunities, and with the potential for significant subsidies through PERTE, we are confident that these projects will prove to be highly saleable development assets that will help us achieve our 2024 revenue targets and serve as important proof points for the applicability of our HEVO-Chain technology for industrial decarbonization.'
Fusion Fuel is an emerging leader in the green hydrogen sector committed to accelerating the energy transition through the development of disruptive, clean hydrogen solutions. Fusion Fuel's patented miniaturized Proton Exchange Membrane (PEM) electrolyzer, the HEVO, and building-block approach to green hydrogen production, unlock unprecedented modularity and flexibility in the design and deployment of cost-competitive, decentralized green hydrogen solutions. Its business lines include the sale of its electrolyzer technology to customers interested in building their own green hydrogen production, the development of turnkey hydrogen plants to be owned and operated by Fusion Fuel, and the sale of green hydrogen as a commodity to end-users through long-term hydrogen purchase agreements. For more information, please visit https://www.fusion-fuel.eu
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Inside This Issue 🗑️ The Next Big Thing in Carbon Capture? Trash. ⚡ Hydrogen Hope on the Chopping Block: How ARCHES and Other Blue-State Projects Got Caught in the Crossfire 📊 GEP Expands Carbon D...
Inside This Issue 🔧 America Bets Big on Blue Hydrogen: Inside the Engine Revolution Backed by Top Institutions 🤖 Bringing AI to Carbon Capture: How Imperial College is Revolutionising Plant Operat...
Inside This Issue 💰 Shell, Equinor, Totalenergies to Invest $714 Million in Carbon Storage Expansion 🚢 AiPs Obtained for Liquefied CO₂ Carrier Design and Floating Liquefied Storage Facility 🌱 Stoc...
Ocean Visions Releases Comprehensive Marine Carbon Dioxide Removal Ecosystem Database
WASHINGTON, DC, UNITED STATES, April 2, 2025 /EINPresswire.com/ — Ocean Visions has released a comprehensive database that provides an in-depth repository of the diverse entities in the marine carb...
Deal with Microsoft enables science research at Terradot project site in Brazil SAN FRANCISCO – Terradot, a leader in Enhanced Rock Weathering (ERW) technology, today announced an agreement with M...
Hyaxiom, Inc., Announces Nation's First Multi-megawatt, Multi-story Installation Fuel Cell Project
Charter Oak Combined Heat and Power (CHP) Project in Bridgeport aims to deliver low-emission power, high CHP efficiency, and local energy benefits EAST HARTFORD, Conn., April 2, 2025 /PRNewswire/ ...
SLINGERLANDS, N.Y., April 03, 2025 (GLOBE NEWSWIRE) -- STEF Group, European leader in transport and logistics services for temperature-controlled food products, has recently launched two hydrogen p...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.