Fusion Fuel Green Hosts Second Quarter 2023 Investor Update

Rhea-AI Summary

Fusion Fuel Green plc announced Q2 2023 financial results, including a €2.46 million green hydrogen equipment supply contract and a 1 MW project in Italy awarded a grant. They also announced a long-term green hydrogen offtake contract, submitted projects to H2 Pioneers II and C-14 programs, and finalized acceptance tests at the Exolum hydrogen plant. They are creating a strategic partnership with Duferco Energia, signed an agreement with Hydrogen Ventures, and are in negotiations with BGR Energy. They will host a live conference call and webcast today.

Positive

• €2.46 million green hydrogen equipment supply contract
• 1 MW project in Italy awarded grant
• Long-term green hydrogen offtake contract
• Submitted projects representing nearly 70 MW of electrolyzer capacity
• Creating strategic partnership with Duferco Energia
• Signed agreement with Hydrogen Ventures

Negative

• None.

SABUGO, Portugal, Aug. 30, 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 second quarter ended June 30, 2023. The quarterly shareholder letter is available at: https://ir.fusion-fuel.eu/financials-filings/earnings-releases

Second Quarter 2023 Highlights

• Won €2.46 million green hydrogen equipment supply contract with CSIC in Spain
• Published inaugural ESG Report 
• 1 MW project in Italy using Fusion Fuel technology awarded grant to support its execution​
• Further invoices issued for technology and turn-key project sales 

Subsequent Events​

• Announced long-term green hydrogen offtake contract with a Spanish industrial group
• Submitted three projects to Spanish H2 Pioneers II program and four projects to the new Portuguese C-14 program, cumulatively representing nearly 70 MW of electrolyzer capacity. Finalized acceptance tests at the Exolum hydrogen plant
• Creating strategic partnership with Duferco Energia to enter Italian market, starting with a 1 MW HEVO-Chain Series NC project in Southern Italy
• Signed agreement with Hydrogen Ventures to reach FID on a €20+ million project in Portugal by end of 2023
• In negotiations with BGR Energy to install 1 MW HEVO-Chain demonstrator in India in 2024
  

Fusion Fuel will host a live conference call and webcast today, August 30, 2023.

• Time: 10:00am ET / 3:00pm WEST
• Participant Dial-In: +1 (312) 248-9348
  • Participant ID: 453546
  • Participant Passcode: 5134
• Webcast registration page: https://www.bigmarker.com/izigo/Q2-2023-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 Fuel’s patented miniaturized Proton Exchange Membrane (PEM) electrolyzer, the HEVO, and building-block approach to green hydrogen production, unlock unprecedented modularity and flexibility in the design and deployment of cost-competitive, decentralized green hydrogen solutions. Its business lines include the sale of its 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
Anna Rutter
fusionfuel@gateway-grp.com