Fusion Fuel Green PLC reports developments across energy engineering, advisory and utility operations, with current activity centered on industrial gas infrastructure, LPG services and biomass-powered steam. The company’s updates include operating and financial results, restructuring actions, board and governance changes, and progress at majority-owned businesses.
Recurring news covers Quality Industrial Corp. and Al Shola Gas, which provide LPG consulting, engineering, installation, maintenance and supply services in the UAE, as well as BioSteam Energy, a majority-owned joint venture operating a biomass-powered industrial steam project in South Africa.
Fusion Fuel (NASDAQ: HTOO) and Toyota Material Handling España have signed a collaboration agreement to enhance the green hydrogen fuel cell forklift market in Spain. This partnership aims to solidify TMHES's leadership in the zero-emission forklift segment by providing comprehensive solutions that include hydrogen production and refueling infrastructure.
The companies will offer a fully financed model combining Hydrogen-as-a-Service with TMHES's rental solutions, targeting logistics operations that utilize heavy loads. Industry leaders emphasize that green hydrogen will aid in decarbonization, thus paving the way for a sustainable future in logistics.
Fusion Fuel Green PLC (NASDAQ: HTOO) announced its Q4 2022 financial results on February 28, 2023. Key highlights include a €5m contingent technology sale contract for a 3.2 MW project in Spain, and a €2m contract with KEME Energy in Portugal. Additionally, the company secured a €36m grant from Portugal's C-05 program and introduced the HEVO-Chain electrolyzer solution. Subsequent developments feature an offtake agreement with Dourogás and a €10m grant from C-14. Fusion Fuel is positioned as a leader in the green hydrogen sector, focusing on innovative clean hydrogen solutions.
Fusion Fuel (NASDAQ: HTOO) has secured a €3.3 million grant for a 2.4 MW green hydrogen project in Toledo, Spain. This funding comes from the H2 Pioneros Program, part of the €6.9 billion PERTE initiative to boost renewable energy and hydrogen projects. The grant represents approximately 57% of the project's total estimated costs, expected to be completed in 2024. The facility will provide green hydrogen to replace natural gas in local industrial processes, producing about 110 metric tonnes annually. Fusion Fuel's project is among 19 awarded funding following a competitive evaluation of 129 proposals.
Fusion Fuel Green (NASDAQ: HTOO) will host a live conference call and webcast on February 28, 2023, to discuss its Q4 2022 financial results and operational highlights. The agenda includes a review of the Q4 financial performance, updates on commercial activities, and revenue guidance for 2023. Investors can join the call at 10:00 am ET by dialing +1 (312) 248-9348. The conference aims to provide insights into the company’s strategic plans in the green hydrogen sector and engage with management during a Q&A session. The webcast will also be available for replay on the company’s website.
Fusion Fuel (Nasdaq: HTOO) announced a €10 million grant agreement secured on February 15, 2023, at a ceremony with Portuguese Prime Minister António Costa. This funding, part of Portugal's Recovery and Resilience Plan, supports the HEVO-Industria project, which aims to enhance green hydrogen production. With this latest grant, the company has secured over €50 million from the Portuguese government to further its initiatives. The HEVO-Industria project includes 300 HEVO-Solar units, anticipated to produce around 764 tonnes of green hydrogen annually, serving local industries and contributing to decarbonization efforts.
Fusion Fuel (NASDAQ: HTOO) has signed a groundbreaking offtake agreement with Dourogás for green hydrogen production in Portugal, marking a key milestone in the country's hydrogen economy. This contract aims to blend green hydrogen into the national gas grid, supporting Portugal's decarbonization objectives as outlined in its 2020 hydrogen strategy. The first hydrogen will be produced at the GreenGas project in Evora, expected to yield approximately 40 tonnes per year. This partnership reinforces Fusion Fuel's position in the industrial decarbonization sector and aims to enhance the market for green hydrogen in Portugal.
Fusion Fuel (NASDAQ: HTOO) hosted a delegation led by Prime Minister António Costa at its electrolyzer factory in Benavente, Portugal, following the approval of a €36 million grant for the Sines Green Hydrogen Valley Alliance through Portugal's National Recovery and Resilience Plan. The visit included a tour of the facility and an institutional event recognizing the grant approval. Fusion Fuel has now secured over €55 million in government funding to support its green hydrogen initiatives, strengthening its market position in Portugal and showcasing the country’s commitment to green energy.
Fusion Fuel (NASDAQ: HTOO) has completed a €9.3 million sale and leaseback of its electrolyzer manufacturing factory in Benavente, Portugal, resulting in net proceeds of approximately €7.5 million. The funds will support the expansion of the Benavente facility, development of owned projects, and general corporate needs. The 14,333 sqm factory, refurbished by the company, includes a 1 MW solar PV array. This strategic move aims to enhance Fusion Fuel's balance sheet and provide capital for future growth initiatives in Europe and North America.
Fusion Fuel announced the approval of €36 million in grant funding for its Sines Green Hydrogen Valley Alliance under Portugal’s Recovery and Resilience Plan. Of this amount, €22.5 million will support the H2 HEVO-SINES project, aiming for 75 MW of electrolysis capacity. Fusion Fuel has secured land for development and plans to begin construction in 2024. An additional €3.5 million will fund R&D for its electrolysis technology. The company is also poised for further funding as a partner in other projects.
Fusion Fuel Green PLC (NASDAQ: HTOO) announced its financial results for Q3 2022, highlighting key advancements in the green hydrogen sector. The company secured €10 million in grant funding for the HEVO-Industria project, completed independent technology assessments, and commenced construction on the Exolum project in Madrid. Subsequent events included €5 million in tech sale contracts for hydrogen projects in Spain and Portugal and the commissioning of the H2Évora Green Hydrogen Plant. Fusion Fuel continues its commitment to innovation, aiming to accelerate the energy transition with new projects and patents.