Fusion Fuel Green Hosts Second Quarter 2021 Investor Update
Fusion Fuel Green PLC (NASDAQ: HTOO) announced its financial results for Q2 2021, highlighting significant progress in green hydrogen initiatives. Key developments include agreements with Elecnor for projects in Spain, a partnership with CCC for pilot plants in the Middle East, and a Heads of Agreement with Ampol for a demonstrator plant in Australia. The company has successfully installed HEVO-SOLAR units at H2Évora, achieving a 10% performance increase. Additionally, Fusion Fuel is renovating a new production facility in Benavente to enhance operational capabilities.
- Entered agreements with Elecnor, CCC, and Ampol to expand green hydrogen projects.
- Installed HEVO-SOLAR units with a confirmed 10% performance increase.
- Acquired and began renovation of a new production facility in Benavente.
- None.
DUBLIN, Ireland, Aug. 17, 2021 (GLOBE NEWSWIRE) -- Fusion Fuel Green PLC (NASDAQ: HTOO) ("Fusion Fuel"), an emerging leader in the green hydrogen sector, today announced financial results for the second quarter ended June 30, 2021. The quarterly shareholder letter is available on the Fusion Fuel website at: https://ir.fusion-fuel.eu/financials-filings/earnings-releases.
Second Quarter 2021 and Subsequent Business Highlights
- Entered into agreement with Elecnor for the development of green hydrogen projects in Spain
- Entered into a partnership with CCC to develop green hydrogen pilot plants in the Middle East
- Entered into Heads of Agreement with Ampol to install demonstrator plant in Australia, establishing framework for JV to pursue other green hydrogen projects in the region
- Installed first HEVO-SOLAR units at H2Évora plant; Grupo ISQ, a Portuguese energy engineering and consulting firm, conducted an independent evaluation which confirms
10% increase in performance vs. previous generation - Submitted three projects to Portugal's Operational Program for Sustainability and Efficient Use of Resources (POSEUR); one project has been approved and two are pending funding decision
- Obtained confirmation of HEVO-SOLAR Sines as one of four projects submitted by Portugal to Important Projects of Common European Interest (IPCEI) program
- Purchased Benavente factory facility and commenced renovation work
Frederico Figueira de Chaves, Fusion Fuel’s Chief Financial Officer, commented, “The installation of the first HEVO-SOLAR units at Evora and the purchase and renovation of our new production facility at Benavente leave us well positioned to advance our commercial discussions and to begin to deploy our technology at scale. We continue to strengthen our capabilities across the entire organization so we are better able to navigate supply chain turbulence and execute on our near-term priorities.”
Second Quarter Update Conference Call and Webcast
Fusion Fuel will host a live conference call and webcast on August 17, 2021, at 10:00am
Join the webcast:
- Teleconference: 1 (312) 248-9348 ID: 960001# Passcode: 6728#
- Webcast registration page: https://www.bigmarker.com/izigo/Webinar-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 Green plc. is an emerging leader in the green hydrogen space, committed to accelerating the energy transition and decarbonizing the global energy system by making zero-emissions green hydrogen commercially viable and accessible. Fusion Fuel has created a revolutionary proprietary electrolyzer solution that allows it to produce hydrogen at highly competitive costs using renewable energy, resulting in zero-carbon emissions. Fusion Fuel’s business lines includes the sale of electrolyzer technology to customers interested in building their own green hydrogen capacity, the development of hydrogen plants to be owned and operated by Fusion Fuel and active management of the portfolio of such hydrogen plants as assets, and the sale of green hydrogen as a commodity to end-users through long-term hydrogen purchase agreements.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “will,” “expect” and similar expressions are intended to identify forward-looking statements. The Company has based these forward-looking statements largely on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Such expectations and projections involve a number of known and unknown risks, which may be outside of the Company’s control. Accordingly, some or all of the results anticipated by these forward-looking statements may not be achieved. The forward-looking statements and projections herein should not be regarded as a representation or prediction that the Company will achieve or is likely to achieve any particular results. The Company cautions readers not to place undue reliance upon any forward-looking statements and projections, which speak only as of the date made. The Company 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 Contact
ir@fusion-fuel.eu
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