SABUGO, Portugal, Nov. 08, 2023 (GLOBE NEWSWIRE) -- Fusion Fuel (NASDAQ: HTOO) announced today that it has entered into a sales contract with a Portuguese energy company 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 deliver green hydrogen solutions tailored to individual customer needs.
The integrated electrolyzer and hydrogen refuelling project was awarded 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 in the north of Portugal, is expected to be fully installed and operational before the end of 2024.
Frederico Figueira de Chaves, CEO of Fusion Fuel, stated, "We are thrilled to announce this contract for the sale of a 1.25MW HEVO-Chain system, the second such announcement in as many months, a clear indication of the market's growing confidence in our flexible HEVO architecture and modular approach to deployment, one which enables us to develop fit-for-purpose solutions that meet the evolving needs of the customer. We continue to see significant interest in our HEVO-Chain system for projects of all sizes."
Pedro Caçorino Dias, Fusion Fuel's Head of Portugal, noted, "Our ability to design an entire hydrogen plant, in addition to our modular electrolyzer approach, allowed us to execute this agreement in record time, a testament to our cutting-edge technology and our capability to deliver. It also speaks volumes about our client's steadfast commitment to accelerating the energy transition and reducing carbon emissions in Portugal's transport sector. With this project, we continue to extend our footprint in the hydrogen mobility space, which we believe will be a source of differentiation for us as the market develops over the coming years."
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
