Welcome to our dedicated page for Fusion Fuel Green PLC news (Ticker: HTOO), a resource for investors and traders seeking the latest updates and insights on Fusion Fuel Green PLC stock.
Fusion Fuel Green PLC (HTOO) is a pioneering company focused on the production of green hydrogen. Established in 2018 and headquartered in Dublin, Ireland, the company has made significant strides in creating cost-effective and competitively priced green hydrogen solutions. Fusion Fuel operates primarily in Portugal, Southern Europe, and Morocco, offering innovative hydrogen generators and green hydrogen production services to various industries.
The company's core technology, the HEVO-Chain, is designed to optimize the production of green hydrogen. One of its flagship projects, the HEVO-Aveiro project in Portugal, aims to develop a 25 MW green hydrogen facility. This facility is expected to produce approximately 2,100 tonnes of green hydrogen annually, which will be utilized for industrial process heat in the local ceramic industry. The HEVO-Aveiro project has garnered significant attention, earning the highest assessment among all hydrogen projects submitted to the C-14 funding call and securing a substantial grant for its development.
In addition to its technological advancements, Fusion Fuel has established itself as a key player in the green hydrogen sector through strategic partnerships and collaborations. The company provides hydrogen generators to clients operating their green hydrogen plants and offers operational and monitoring services. Fusion Fuel's clientele includes natural gas networks and grids, oil refineries, ammonia producers, regulators, and government departments, demonstrating the broad applicability and market reach of its solutions.
Financially, Fusion Fuel continues to capture investor interest, evidenced by its regular communication and updates through live conference calls and webcasts. For instance, the company hosts events accessible through its website, providing investors with the latest performance metrics, project updates, and strategic insights.
Fusion Fuel's commitment to innovation and sustainability is further highlighted by its receipt of multiple awards and grants, reinforcing its leadership position in the green hydrogen industry. As the demand for clean energy solutions grows, Fusion Fuel Green PLC remains at the forefront, driving the transition to a hydrogen-powered future.
Fusion Fuel (NASDAQ: HTOO) has signed a ten-year offtake agreement with Hydrogen Ventures Ltd for the supply of thirty tonnes of green hydrogen annually, with initial deliveries expected in Q4 2023. This agreement signifies Fusion Fuel’s second hydrogen purchase contract in Portugal, enhancing its production capacity in Evora to approximately 50 tonnes per year by year-end. This partnership aims to support the emerging green hydrogen market for mobility applications in Portugal, providing stability and price security to the sector. The collaboration showcases Fusion Fuel's commitment to advancing green hydrogen accessibility and sustainability.
Fusion Fuel (NASDAQ: HTOO) has secured €3.6 million in grant funding through Portugal's Recovery and Resilience Plan for a 1 MW decentralized green hydrogen production facility and refueling station in Elvas, Portugal. This project aims to produce up to 400 kg of green hydrogen daily and is part of the Moving2Neutrality Alliance, led by Petrogal. With an estimated capital investment of €7.2 million, the facility will significantly enhance hydrogen mobility solutions and could set a benchmark for similar initiatives across Iberia. This achievement highlights Fusion Fuel's innovative technology and its partnership with Galp, a major energy utility.
Fusion Fuel (NASDAQ: HTOO) and Toyota Material Handling España have signed a collaboration agreement to enhance the green hydrogen fuel cell forklift market in Spain. This partnership aims to solidify TMHES's leadership in the zero-emission forklift segment by providing comprehensive solutions that include hydrogen production and refueling infrastructure.
The companies will offer a fully financed model combining Hydrogen-as-a-Service with TMHES's rental solutions, targeting logistics operations that utilize heavy loads. Industry leaders emphasize that green hydrogen will aid in decarbonization, thus paving the way for a sustainable future in logistics.
Fusion Fuel Green PLC (NASDAQ: HTOO) announced its Q4 2022 financial results on February 28, 2023. Key highlights include a €5m contingent technology sale contract for a 3.2 MW project in Spain, and a €2m contract with KEME Energy in Portugal. Additionally, the company secured a €36m grant from Portugal's C-05 program and introduced the HEVO-Chain electrolyzer solution. Subsequent developments feature an offtake agreement with Dourogás and a €10m grant from C-14. Fusion Fuel is positioned as a leader in the green hydrogen sector, focusing on innovative clean hydrogen solutions.
Fusion Fuel (NASDAQ: HTOO) has secured a €3.3 million grant for a 2.4 MW green hydrogen project in Toledo, Spain. This funding comes from the H2 Pioneros Program, part of the €6.9 billion PERTE initiative to boost renewable energy and hydrogen projects. The grant represents approximately 57% of the project's total estimated costs, expected to be completed in 2024. The facility will provide green hydrogen to replace natural gas in local industrial processes, producing about 110 metric tonnes annually. Fusion Fuel's project is among 19 awarded funding following a competitive evaluation of 129 proposals.
Fusion Fuel Green (NASDAQ: HTOO) will host a live conference call and webcast on February 28, 2023, to discuss its Q4 2022 financial results and operational highlights. The agenda includes a review of the Q4 financial performance, updates on commercial activities, and revenue guidance for 2023. Investors can join the call at 10:00 am ET by dialing +1 (312) 248-9348. The conference aims to provide insights into the company’s strategic plans in the green hydrogen sector and engage with management during a Q&A session. The webcast will also be available for replay on the company’s website.
Fusion Fuel (Nasdaq: HTOO) announced a €10 million grant agreement secured on February 15, 2023, at a ceremony with Portuguese Prime Minister António Costa. This funding, part of Portugal's Recovery and Resilience Plan, supports the HEVO-Industria project, which aims to enhance green hydrogen production. With this latest grant, the company has secured over €50 million from the Portuguese government to further its initiatives. The HEVO-Industria project includes 300 HEVO-Solar units, anticipated to produce around 764 tonnes of green hydrogen annually, serving local industries and contributing to decarbonization efforts.
Fusion Fuel (NASDAQ: HTOO) has signed a groundbreaking offtake agreement with Dourogás for green hydrogen production in Portugal, marking a key milestone in the country's hydrogen economy. This contract aims to blend green hydrogen into the national gas grid, supporting Portugal's decarbonization objectives as outlined in its 2020 hydrogen strategy. The first hydrogen will be produced at the GreenGas project in Evora, expected to yield approximately 40 tonnes per year. This partnership reinforces Fusion Fuel's position in the industrial decarbonization sector and aims to enhance the market for green hydrogen in Portugal.
Fusion Fuel (NASDAQ: HTOO) hosted a delegation led by Prime Minister António Costa at its electrolyzer factory in Benavente, Portugal, following the approval of a €36 million grant for the Sines Green Hydrogen Valley Alliance through Portugal's National Recovery and Resilience Plan. The visit included a tour of the facility and an institutional event recognizing the grant approval. Fusion Fuel has now secured over €55 million in government funding to support its green hydrogen initiatives, strengthening its market position in Portugal and showcasing the country’s commitment to green energy.
Fusion Fuel (NASDAQ: HTOO) has completed a €9.3 million sale and leaseback of its electrolyzer manufacturing factory in Benavente, Portugal, resulting in net proceeds of approximately €7.5 million. The funds will support the expansion of the Benavente facility, development of owned projects, and general corporate needs. The 14,333 sqm factory, refurbished by the company, includes a 1 MW solar PV array. This strategic move aims to enhance Fusion Fuel's balance sheet and provide capital for future growth initiatives in Europe and North America.
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