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) 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.
Fusion Fuel (Nasdaq: HTOO) has announced its entry into the centralized electrolyzer market with the launch of the HEVO-Chain. This innovative design improves efficiency to around 49 kWh/kg of hydrogen by utilizing a unique architecture that enhances performance and minimizes losses seen in traditional models. Each unit features 16 micro-electrolyzers, generating 5.6 kg of hydrogen daily. The HEVO-Chain is designed for scalability and modularity, set to enter commercial usage in 2024. This advancement positions Fusion Fuel as a strong contender in the green hydrogen sector.
Fusion Fuel (HTOO) has announced a joint venture with Duferco Energia SpA to develop a green hydrogen ecosystem in Italy, starting with a 1.25 MW pilot project in Sicily. This project will utilize Fusion Fuel's solar-to-hydrogen technology to produce approximately 46 tonnes of green hydrogen annually, aimed at powering a molten carbonate fuel cell system. The collaboration signifies Fusion Fuel's strategic expansion into the Italian market and highlights its commitment to clean energy solutions, targeting additional projects in Tunisia and Algeria.
Fusion Fuel Green plc (NASDAQ: HTOO) will host a live conference call on November 28, 2022, to discuss its Q3 2022 financial results and operational highlights. The agenda includes a financial review, commercial and technology updates, and a management Q&A session. Investors can join the call via dial-in or webcast. Fusion Fuel is focused on advancing green hydrogen solutions, featuring a proprietary solar-to-hydrogen generator and various business models, including technology sales and turnkey plant development.
Ballard Power Systems (NASDAQ: BLDP) and Fusion Fuel (NASDAQ: HTOO) successfully commissioned the H2Évora green hydrogen plant in Portugal on November 10, 2022. The facility, consisting of 15 HEVO-Solar units, will produce 15 tons of green hydrogen annually and reduce CO2 emissions by 135 tons. Ballard provided a 200-kilowatt FCwave fuel cell module for converting hydrogen into electricity, allowing power sales during peak demand. This project demonstrates the viability of hydrogen for flexible energy storage and supports Portugal's green energy goals.
Fusion Fuel has successfully commissioned its H2Évora facility, Portugal's first solar-to-green hydrogen plant, connecting it to the electric grid. This demonstration project, featuring 15 HEVO-Solar units, is set to produce 15 tons of green hydrogen annually and reduce CO2 emissions by 135 tons. The integration with Ballard Power Systems’ fuel cell technology will allow Fusion Fuel to sell electricity during peak demand. Officials highlighted the project's significance, particularly amidst the European energy crisis.
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