Fusion Fuel Receives Purchase Order for 1.25 MW HEVO-Chain Electrolyzer

Rhea-AI Summary

Fusion Fuel (NASDAQ: HTOO) has entered into a sales contract for a 1.25 MW HEVO-Chain Series NC electrolyzer, reinforcing market acceptance of its plug-and-play HEVO™ technology. The system will be deployed to a co-located hydrogen refueling station, funded by the European Commission, aiming to produce, store, and distribute green hydrogen for the transport sector. CEO Frederico Figueira de Chaves sees this as a strategic move to capitalize on small-to-midscale tech sale opportunities in the growing green hydrogen market.

Contract further reinforces market acceptance of plug-and-play HEVO-Chain system, strengthens Fusion Fuel’s footprint in hydrogen mobility

SABUGO, Portugal, Nov. 30, 2023 (GLOBE NEWSWIRE) -- Fusion Fuel (NASDAQ: HTOO) announced today that it has entered into a sales contract for a 1.25 MW HEVO-Chain Series NC electrolyzer. The system will employ Fusion Fuel’s plug-and-play HEVO™ technology, which uses modular building blocks to design green hydrogen solutions tailored to individual customer needs.

The electrolyzer system will be deployed to a co-located hydrogen refuelling station, which was awarded project funding by the European Commission through Component 14 of Portugal’s Recovery and Resilience Plan. The facility, which aims to produce, store, and distribute green hydrogen for the light and heavy transport sector, is expected to be fully installed and operational before the end of 2024.

Frederico Figueira de Chaves, CEO of Fusion Fuel, stated, “We are very excited to have entered into another contract for our megawatt-class HEVO-Chain solution, our second such agreement this month. We continue to execute on our strategy of prioritizing small-to-midscale tech sale opportunities that we can deliver in the intermediate term. This is a segment of the market where we have a track record of successful execution, that is less capital intensive and doesn’t require on-balance sheet financing. We believe this will be a winning proposition for us, particularly as the green hydrogen market continues to mature, and we continue to see strong interest in our HEVO-Chain series of products.”

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 is the latest sales contract announced by Fusion Fuel (NASDAQ: HTOO)?

Fusion Fuel has entered into a sales contract for a 1.25 MW HEVO-Chain Series NC electrolyzer.

What technology will be employed in the system deployed by Fusion Fuel?

Fusion Fuel’s plug-and-play HEVO™ technology, which uses modular building blocks to design green hydrogen solutions tailored to individual customer needs, will be employed in the system.

What is the aim of the co-located hydrogen refueling station funded by the European Commission?

The facility aims to produce, store, and distribute green hydrogen for the light and heavy transport sector.

When is the facility expected to be fully installed and operational?

The facility is expected to be fully installed and operational before the end of 2024.

What is the CEO's strategy for small-to-midscale tech sale opportunities in the green hydrogen market?

CEO Frederico Figueira de Chaves prioritizes small-to-midscale tech sale opportunities that can be delivered in the intermediate term, believing it to be a winning proposition as the green hydrogen market matures.