Fusion Fuel Announces Entry into Centralized PEM Electrolyzer Market with HEVO-Chain Solution
November 23 2022 - 4:30AM
Fusion Fuel (Nasdaq: HTOO) announced today its entry into the
centralized electrolyzer market with the introduction of its
HEVO-Chain solution.
The HEVO-Chain is a revolutionary innovation in the design of
centralized PEM electrolyzers. Rather than relying on a traditional
cell-stack, the HEVO-Chain builds off Fusion Fuel’s proprietary
HEVO architecture, enabling the system to operate at higher
efficiency – roughly 49 kWh / kg of hydrogen – and avoid the losses
that stem from more conventional electrolyzer stack designs.
Each HEVO-Chain hydrogen unit consists of 16 HEVO
micro-electrolyzers interconnected along a string, representing
11.2 kW of electrolysis capacity and outputting 5.6 kg of hydrogen
per day at a pressure of 4 bar. A planned second-generation unit is
expected to increase the pressure at the outlet to 20-30 bar, among
additional improvements. As with the HEVO-Solar, the HEVO-Chain was
built with modularity and scalability in mind – it is designed for
a standard 19” rack cabinet, allowing for up to eight units to be
integrated seamlessly alongside the power electronics and water
purification system. The HEVO-Chain is currently undergoing
comprehensive performance and reliability testing. The company
expects the first HEVO-Chain units to enter commercial use in
2024.
Jaime Silva, Chief Technology Officer of Fusion Fuel, noted, “We
are extremely excited to introduce the HEVO-Chain, an innovation
which represents the culmination of more than two years of hard
work by our R&D and Engineering teams. Building on the
radically different concept of allowing each membrane to operate
independently and having multiple electrochemical cells in
simultaneous operation, the system is engineered to operate with
lower power requirements and cheaper power systems than existing
solutions.”
Frederico Figueira de Chaves, Co-Head of Fusion Fuel, commented,
“The HEVO-Chain is proof that our modular approach – combining many
units, manufactured in highly efficient, automated production
processes – is the key to driving down capital costs for
centralized PEM systems. This radically different approach only
further differentiates Fusion Fuel from the rest of the
market.”
Zach Steele, Co-Head of Fusion Fuel, added, “In conjunction with
the HEVO-Solar – our fully integrated, off-grid solar-to-hydrogen
generator – we are now positioned to deliver green hydrogen
solutions for every customer in every market. This solution is
infinitely scalable, able to operate as a single HEVO-Chain unit or
multi-megawatt containerized solution. With the addition of the
HEVO-Chain, we now can offer a full-suite of best-in-class
electrolyzer solutions designed to meet any size demand, capable of
using any source of renewable electricity, and in any geography
around the globe. This offering firmly positions Fusion Fuel as a
global leader in the green hydrogen ecosystem and will help
accelerate the transition to hydrogen as a broad-based energy
source.”
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 green hydrogen. 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
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/8c1d47a2-b207-4b61-a0f8-0bc79b37ac0d
https://www.globenewswire.com/NewsRoom/AttachmentNg/e0a3bed7-0f80-4a3e-b0e7-a6969aec025c
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