Fusion Fuel Green PLC Announces MoU with ZOILO RIOS to Develop Green Hydrogen Production for First Hydrogen Refueling Stations in Spain
Fusion Fuel Green (NASDAQ: HTOO) has entered a Memorandum of Understanding with Grupo Zoilo Ríos to develop Spain's first green hydrogen production facility adjacent to a service station. The agreement includes the inaugural Hydrogen Purchase Agreement with a gas station operator in Spain, targeting a production of up to 120 tons of green hydrogen annually as the hydrogen mobility market grows. Utilizing its patented HEVO-SOLAR technology, Fusion Fuel aims to supply emissions-free hydrogen while supporting Spain's National Hydrogen Strategy.
- Signing an MoU with Grupo Zoilo Ríos for hydrogen production.
- First Hydrogen Purchase Agreement in Spain with a gas station operator.
- Production capacity of 120 tons of green hydrogen annually.
- Utilizing HEVO-SOLAR technology for cost-effective hydrogen production.
- Partnership aligns with Spain's National Hydrogen Strategy for sustainable mobility.
- None.
DUBLIN, Ireland, March 15, 2021 (GLOBE NEWSWIRE) -- Fusion Fuel Green PLC (NASDAQ: HTOO), a green hydrogen technology company, is pleased to announce that it has signed an MoU with Grupo Zoilo Ríos to jointly develop the first green hydrogen production capacity next to a service station in Spain. This partnership will also represent the first Hydrogen Purchase Agreement (HPA) signed with a gas station operator in Spain. The volume of green hydrogen provided by the HPA will escalate over time to up 120 tons per annum as the market for hydrogen-fueled mobility continues to develop.
Fusion Fuel will use its market-leading HEVO-SOLAR solution to supply green hydrogen to the El Cisne service station in Zaragoza, which is located next to the A2 Highway, one of Spain’s main trunk roads connecting Madrid and Barcelona. Fusion Fuel’s technology produces emissions-free green hydrogen using only solar radiation and is designed to be completely modular, making it the ideal solution to accompany the dramatic growth in the Spanish FCEV market expected in the coming years.
Grupo Zoilo Ríos, a member of CEEES, is one of the leading groups of gas stations in the Aragon Region of Spain, with 19 service stations in operation, and is committed to leading the transition to sustainable mobility in the region. Zoilo Ríos and Fusion Fuel will develop the first green hydrogen plant co-located with existing conventional refueling infrastructure and will expand the green hydrogen production footprint to the other Zoilo Ríos service stations as the market develops. Grupo Zoilo Ríos is already developing long term green hydrogen supply contracts with logistics and public transport operators in the area to secure demand.
Spain has announced a long-term strategic commitment to develop an extensive hydrogen refueling network as part of its ambitious National Hydrogen Strategy, “Hoja de Ruta del Hidrógeno”. The production of clean hydrogen at scale is essential to achieving the country’s decarbonization targets. Fusion Fuel, through its Spanish JV entity, will look to play a leading role in supplying the technology to establish a robust green hydrogen refueling infrastructure, and in some cases will be the direct provider of the green hydrogen to refueling station owners.
“Delivering green hydrogen and reducing the carbon intensity of the transportation sector is something we see not only as a key decarbonization objective, but one that can also deliver attractive long-term opportunities,” explained Joao Wahnon, Head of Business Development at Fusion Fuel. “Thanks to the excellent solar resource in Spain, our HEVO-SOLAR solution will be able to produce green hydrogen extremely competitively, making it a great market for our technology. We are excited to join forces with Zoilo Ríos Group and CEEES to develop our first project in this sector and to be part of the green hydrogen production and refueling infrastructure laid out in Spain’s National Hydrogen Strategy.”
Zoilo Ríos, President of Grupo Zoilo Ríos, added: “The inauguration of our first hydrogen refueling point later this year will demonstrate our intention to pioneer the future of sustainable mobility in the Aragon region. Our goal is to develop low-cost green hydrogen production to create long-term stable demand from new consumers in Spain. Our partnership with Fusion Fuel further reinforces this commitment and we hope it will encourage logistics companies in the Plataforma Logistica de Zaragoza (PLAZA) as well as public transportation operators to commit to decarbonization by switching to new clean energies such as green hydrogen.”
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.
For more information, please visit https://www.fusion-fuel.eu
About Grupo Zoilo Rios
Grupo Zoilo Rios is one of the leading Service Stations Management companies with 19 Gas Stations located in strategic locations in the Aragon Region (Spain). The progressive incorporation of new facilities, together with innovation in both products and services; as well as the diversification in business and complementary activities has allowed Zoilo Ríos, S.A. to achieve sustainable growth. With more than 95 years of experience, Zoilo Ríos, S.A. has achieved a specialization in the Service Stations Sector and now also acts as an energy service provider to be participants in the energy transition of the Service Stations sector, helping to mitigate climate change.
Zoilo Rios has at its core the commitments to; be an example of a sustainable company, from a labor, environmental, economic and social aspects, be a company in the Service Stations sector that supplies clean energy and solutions to sustainable mobility and to collaborate with society, so that it is inclusive, egalitarian, fair and respectful with the environment.
For more information, please visit https://zoilorios.com
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, as they relate to us, are intended to identify forward-looking statements. The Company has based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Some or all of the results anticipated by these forward-looking statements may not be achieved. Further information on the Company’s risk factors is contained in our filings with the SEC. Any forward-looking statement made by us 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 us to predict all of them. 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
FAQ
What is the recent partnership between Fusion Fuel Green and Grupo Zoilo Ríos?
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