Fusion Fuel Announces €5 Million Tech Sale Contract for 3.2 MW Green Hydrogen Project in Spain
Gedisol project will be developed in 2023 using Fusion Fuel’s HEVO-Solar technology
SABUGO, Portugal, Sept. 29, 2022 (GLOBE NEWSWIRE) -- Fusion Fuel (Nasdaq: HTOO) announced today that it has entered into a technology sale agreement with Gedisol, a Spanish developer, to supply its innovative solar-to-hydrogen systems for a 3.2 MW green hydrogen project located in Andalucía, Spain. The facility will consist of 144 HEVO-Solar trackers that will generate an estimated 200 tonnes of green hydrogen per annum. The company expects to begin construction early next year and achieve commercial operation in Q3 2023.
Commenting on the transaction, João Wahnon, Chief of Business Development at Fusion Fuel, said, “We are pleased to have been selected to supply our technology to the Gedisol project, which will further strengthen our near-term development portfolio and accelerate our expansion into Spain that began with the Exolum project. While many in the market talk about deploying electrolyzers and producing green hydrogen, our team is continuing to work diligently to get our disruptive technology in the ground in the very near-term.”
Jason Baran, Chief Commercial Officer at Fusion Fuel, added, “We are excited to have been able to work quickly to provide a near-term solution for a high-profile project in Spain and strengthen our positioning in the industrial decarbonization ecosystem in Spain. With grant funding in place and line of sight to an offtake agreement, Gedisol is a highly actionable project that will help us achieve our broader commercial objective of getting a fully committed order book in 2023.”
About Fusion Fuel
Fusion Fuel is an emerging leader in the green hydrogen sector committed to accelerating the energy transition through the development of disruptive, clean hydrogen solutions. Fusion Fuel has created a modular, integrated solar-to-hydrogen generator, powered by a proprietary miniaturized PEM electrolyzer, that enables off-grid production of hydrogen with zero carbon-emissions. Its business lines include the sale of 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. For more information, please visit https://www.fusion-fuel.eu
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts. The words “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “will,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. Fusion Fuel has based these forward-looking statements largely on its current expectations and projections about future events and financial trends that Fusion Fuel believes may affect its financial condition, results of operations, business strategy and financial needs. Such forward-looking statements are subject to risks (including those set forth in Fusion Fuel’s Annual Report on Form 20-F, filed with the Securities and Exchange Commission on May 2, 2022) and uncertainties which could cause actual results to differ from the forward-looking statements. Any forward-looking statement made by Fusion Fuel herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for Fusion Fuel to predict all of them. Fusion Fuel undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
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