Fusion Fuel Green PLC - HTOO STOCK NEWS

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.

Fusion Fuel announced the approval of €36 million in grant funding for its Sines Green Hydrogen Valley Alliance under Portugal’s Recovery and Resilience Plan. Of this amount, €22.5 million will support the H2 HEVO-SINES project, aiming for 75 MW of electrolysis capacity. Fusion Fuel has secured land for development and plans to begin construction in 2024. An additional €3.5 million will fund R&D for its electrolysis technology. The company is also poised for further funding as a partner in other projects.

Fusion Fuel Green PLC (NASDAQ: HTOO) announced its financial results for Q3 2022, highlighting key advancements in the green hydrogen sector. The company secured €10 million in grant funding for the HEVO-Industria project, completed independent technology assessments, and commenced construction on the Exolum project in Madrid. Subsequent events included €5 million in tech sale contracts for hydrogen projects in Spain and Portugal and the commissioning of the H2Évora Green Hydrogen Plant. Fusion Fuel continues its commitment to innovation, aiming to accelerate the energy transition with new projects and patents.

Fusion Fuel (Nasdaq: HTOO) has partnered with Electus Energy to launch a 75 MW green hydrogen project in Bakersfield, California, marking Fusion Fuel's entry into the North American market. This facility aims to produce 9,300 tons of green hydrogen per year with an investment of approximately €175 million ($180 million). The project is scheduled for commissioning in the first half of 2025. This collaboration is expected to enhance hydrogen mobility solutions and reduce fuel costs for heavy-duty vehicles, leveraging California's favorable policies and solar energy potential.