Fusion Fuel Receives €1 Million Grant from European Innovation Fund for Alentejo Green Hydrogen Valley through H2tALENT Consortium

Rhea-AI Summary

Fusion Fuel (HTOO) secures €1.015 million grant from the European Innovation Fund's Horizon Europe Programme to develop the Alentejo Hydrogen Valley, aiming to produce over 1,200 tonnes of green hydrogen per annum. The grant will support automation equipment for the Evora demonstration facility and engineering work for the Sines I project, reinforcing Fusion Fuel's commitment to advancing the green hydrogen economy in Portugal.

SABUGO, Portugal, March 04, 2024 (GLOBE NEWSWIRE) -- Fusion Fuel (NASDAQ: HTOO) (the “Company”) announced today that it has received approval for a €1.015 million grant from the European Innovation Fund’s Horizon Europe Programme. The Company was included as a member of H2tALENT, a consortium of 29 partners from six countries across Europe and sponsored by the Universidade de Évora. H2tALENT was one of three consortia funded in the topic (HORIZON-JTI-CLEANH2-2023-1), which was created to develop small-scale hydrogen valleys that demonstrate the decarbonization potential of hydrogen and cover the entire value chain from research & development through to end-use.

H2tALENT’s submission to the funding call, the Alentejo Hydrogen Valley, is aimed at bringing together pioneering initiatives and state-of-the-art technologies across the value chain to accelerate the development of the local hydrogen economy in the Alentejo region of Portugal. The projects envisioned within the hydrogen valley would produce over 1,200 tonnes of green hydrogen per annum, to be used by multiple offtakers within the industrial ecosystem in Sines, with the deepwater port representing a strategic multi-modal hub for integration within the broader European economy.

The scope of Fusion Fuel’s contribution to the consortium relates to its continuing commitment to developing and providing electrolyzer technology to green hydrogen projects in the Alentejo region, which began with the Company’s demonstration projects in Evora. Furthermore, Fusion Fuel’s production facility in Benavente, within the Alentejo region, is strategically located to supply electrolyzer technology to the hydrogen ecosystem envisioned by the H2tALENT consortium. The grant funds awarded will go towards automation equipment for the Company’s Evora demonstration facility, along with engineering work for the Sines I project.

Pedro Caçorino Dias, Fusion Fuel’s Head of Commercial for Portugal, commented, “We are thrilled to receive this grant from the European Innovation Fund’s Horizon Europe Programme, which highlights our commitment to advancing the green hydrogen economy within the Alentejo region. It is an honor to have been selected by the University of Evora last year to join the H2tALENT consortium, which has enabled us to collaborate with leading players within the hydrogen ecosystem across Europe. This grant will propel our efforts in Evora and Sines, further solidifying our position as a key player in the transition towards a sustainable energy future.”

About Fusion Fuel Green plc

Fusion Fuel is rapidly emerging as a 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. Learn more about Fusion Fuel by visiting our website at https://www.fusion-fuel.eu, and by following us on LinkedIn.

Investor Relations Contact

ir@fusion-fuel.eu

FAQ

What grant did Fusion Fuel (HTOO) receive from the European Innovation Fund?

Fusion Fuel secured a €1.015 million grant from the European Innovation Fund's Horizon Europe Programme.

What is the aim of the Alentejo Hydrogen Valley project?

The project aims to produce over 1,200 tonnes of green hydrogen per annum.

What will the grant funds be used for?

The grant funds will go towards automation equipment for the Evora demonstration facility and engineering work for the Sines I project.

Who is leading Fusion Fuel's efforts in Portugal?

Pedro Caçorino Dias, Fusion Fuel's Head of Commercial for Portugal, is leading the company's efforts in Portugal.

What is Fusion Fuel's role in the H2tALENT consortium?

Fusion Fuel's contribution to the consortium involves developing and providing electrolyzer technology to green hydrogen projects in the Alentejo region.