Fusion Fuel Announces €5 Million Tech Sale Contract for 3.2 MW Green Hydrogen Project in Spain
September 29 2022 - 4:30AM
Fusion Fuel (Nasdaq: HTOO) announced today that it has entered into
a technology sale agreement with Gedisol, a Spanish developer, to
supply its innovative solar-to-hydrogen systems for a 3.2 MW green
hydrogen project located in Andalucía, Spain. The facility will
consist of 144 HEVO-Solar trackers that will generate an estimated
200 tonnes of green hydrogen per annum. The company expects to
begin construction early next year and achieve commercial operation
in Q3 2023.
Commenting on the transaction, João Wahnon, Chief of Business
Development at Fusion Fuel, said, “We are pleased to have been
selected to supply our technology to the Gedisol project, which
will further strengthen our near-term development portfolio and
accelerate our expansion into Spain that began with the Exolum
project. While many in the market talk about deploying
electrolyzers and producing green hydrogen, our team is continuing
to work diligently to get our disruptive technology in the ground
in the very near-term.”
Jason Baran, Chief Commercial Officer at Fusion Fuel, added, “We
are excited to have been able to work quickly to provide a
near-term solution for a high-profile project in Spain and
strengthen our positioning in the industrial decarbonization
ecosystem in Spain. With grant funding in place and line of sight
to an offtake agreement, Gedisol is a highly actionable project
that will help us achieve our broader commercial objective of
getting a fully committed order book in 2023.”
About Fusion Fuel
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 has created a modular, integrated solar-to-hydrogen
generator, powered by a proprietary miniaturized PEM electrolyzer,
that enables off-grid production of hydrogen with zero
carbon-emissions. Its business lines include the sale of
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
Forward Looking Statements
This press release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements are statements that
are not historical facts. The words “believe,” “may,” “estimate,”
“continue,” “anticipate,” “intend,” “should,” “plan,” “could,”
“target,” “potential,” “is likely,” “will,” “expect” and similar
expressions, as they relate to us, are intended to identify
forward-looking statements. Fusion Fuel has based these
forward-looking statements largely on its current expectations and
projections about future events and financial trends that Fusion
Fuel believes may affect its financial condition, results of
operations, business strategy and financial needs. Such
forward-looking statements are subject to risks (including those
set forth in Fusion Fuel’s Annual Report on Form 20-F, filed with
the Securities and Exchange Commission on May 2, 2022) and
uncertainties which could cause actual results to differ from the
forward-looking statements. Any forward-looking statement made by
Fusion Fuel herein speaks only as of the date on which it is made.
Factors or events that could cause our actual results to differ may
emerge from time to time, and it is not possible for Fusion Fuel to
predict all of them. Fusion Fuel undertakes no obligation to
publicly update any forward-looking statement, whether as a result
of new information, future developments or otherwise, except as may
be required by law.
Investor Relations ContactBen
Schwarzir@fusion-fuel.eu
Media Relations ContactRobert
Collinsfusionfuel@gatewayir.com
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