Fusion Fuel Green Hosts Fourth Quarter 2022 Investor Update

Rhea-AI Summary

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.

Positive

• Secured €5m technology sale contract for a 3.2 MW project in Spain.
• Acquired €2m technology sale contract with KEME Energy in Portugal.
• Awarded €36m grant from Portugal’s C-05 program for innovation.
• Announced offtake agreement with Dourogás.
• Introduced HEVO-Chain electrolyzer, filing the respective patent.

Negative

• None.

SABUGO, Portugal, Feb. 28, 2023 (GLOBE NEWSWIRE) -- Fusion Fuel Green PLC (NASDAQ: HTOO) ("Fusion Fuel"), an emerging leader in the green hydrogen sector, today announced financial results for the fourth quarter ended December 31, 2022. The quarterly shareholder letter is available at https://ir.fusion-fuel.eu/financials-filings/earnings-releases

Fourth Quarter 2022 Highlights

• ​Announcement of €5m contingent technology sale contract for a 3.2 MW green hydrogen project in Spain
• Announcement of €2m technology sale contract with KEME Energy for a green hydrogen project in Portugal
• Announcement of an agreement with Duferco Energia SpA to develop Italian green hydrogen market
• Announcement of an agreement with Electus Energy to develop a 75 MW green hydrogen project in Bakersfield, California
• Introduced a new centralized PEM electrolyzer solution, the HEVO-Chain and filed respective patent
• Fusion Fuel consortium awarded €36m grant from Portugal’s C-05 Mobilizing Agendas for Business Innovation
• Announcement of €9m Sale and leaseback of Benavente factory
  

Subsequent Events​

• Announcement of an offtake agreement with Portuguese gas utility Dourogás
• Announcement of the signature of the Terms of Acceptance for €10m grant funding from C-14 of PRR 
• Selected for €2.54m technology sale tender for CSIC in Spain, pending final contract negotiations
• Awarded €3.35m H2 Pioneros grant under the PERTE program in Spain for a 2.4 MW project
• Signed MoU with a leading logistics equipment provider to create hydrogen logistic equipment solutions together
  

Fusion Fuel will host a live conference call and webcast today, February 28, 2023.

• Time: 10:00am ET / 3:00pm WEST
• Participant Dial-In: +1 (312) 248-9348
  • Participant ID: 034088
  • Participant Passcode: 7139
• Webcast registration page: https://www.bigmarker.com/izigo/Q4-2022-Update-Fusion-Fuel
  

The webcast may also be accessed through the Events page on the Fusion Fuel website (www.fusion-fuel.eu). A playback will be available for replay online for a period of time following the call.

About Fusion Fuel Green plc

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 has created a modular, integrated solar-to-hydrogen generator, powered by a proprietary miniaturized PEM electrolyzer, that enables off-grid production of green hydrogen. Fusion Fuel’s 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

Investor Relations Contact
Ben Schwarz
ir@fusion-fuel.eu

Media Relations Contact
Robert Collins
fusionfuel@gatewayir.com

FAQ

What were the key highlights of Fusion Fuel Green's Q4 2022 financial results?

Fusion Fuel Green reported a €5m technology sale contract for a Spanish hydrogen project, a €2m contract with KEME Energy in Portugal, and a €36m grant from Portugal’s C-05 program.

What significant agreements did Fusion Fuel Green announce after Q4 2022?

Subsequent to Q4 2022, Fusion Fuel announced an offtake agreement with Dourogás and a €10m grant from C-14 of PRR.

What is the HEVO-Chain introduced by Fusion Fuel Green?

The HEVO-Chain is a new centralized PEM electrolyzer solution introduced by Fusion Fuel Green, with a patent filed for it.