Fusion Fuel Announces Strategic Collaboration Agreement with AESA to Target the Decarbonization of Spanish Industry
DUBLIN, Ireland, Jan. 25, 2022 (GLOBE NEWSWIRE) -- Fusion Fuel Green PLC (NASDAQ: HTOO), ("Fusion Fuel"), a green hydrogen technology company, announced today that it has signed a collaboration agreement with AESA, a leading Spanish industrial engineering services company and a pioneer in the decarbonization of industrial energy. The agreement aims to accelerate the decarbonization of Spain’s commercial and industrial base and aligns with the objectives established in Spain’s Hydrogen Roadmap.
The partnership combines Fusion Fuel’s disruptive solar-to-hydrogen technology with AESA’s engineering solutions and track record in industrial power, co-generation and decarbonization projects. AESA has over 40 years of experience providing such services to large, energy intensive clients in the power, refining, chemical, cement, paper, agro-industrial and manufacturing sectors.
The two companies will focus on the substitution of the more than 500,000 MTs of grey hydrogen consumed annually by industry today in Spain, the transition to FCEV and hydrogen-fueled vehicles for logistics and haulage fleets, as well as the decarbonization of power generation and industrial heating. Fusion Fuel and AESA are actively developing decarbonization projects with major industrial clients who are well-positioned to benefit from the recently announced capex subsidy programs aimed at incentivizing the innovative use of green hydrogen technology across the industrial value chain.
Commenting on the agreement, João Wahnon, Fusion Fuel’s Head of Business Development said, “we are excited to announce this strategic partnership with AESA, which establishes a platform for catalyzing the decarbonization of Spanish industry. By jointly going to market, Fusion Fuel and AESA together form the leading-edge provider of turnkey, low-cost green hydrogen solutions for decarbonizing industrial processes, thermal energy, and heavy commercial vehicles. We expect that our clients’ projects will be considered a priority for both Spanish and EU subsidy programs aimed to spur the energy transition and the development of the hydrogen economy.”
Raimon Argemí, General Manager of AESA, stated, “the potential to provide our clients with decarbonization solutions based on proven competitive green hydrogen technical represents a fundamental quantum leap when it comes to tackling decarbonization projects. In this sense, we are convinced that the collaboration between AESA and Fusion Fuel will contribute to accelerating the availability of green hydrogen and the energy transition of our economy.”
About Fusion Fuel Green PLC
Fusion Fuel is an emerging leader in the green hydrogen sector committed to accelerating the energy transition through the development of disruptive, clean hydrogen technology. Fusion has created a revolutionary, integrated solar-to-hydrogen solution that enables off-grid production of hydrogen with zero carbon-emissions. Fusion Fuel’s 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
AESA is an engineering and consultancy company specialized in energy projects with a presence in Spain, Mexico and Colombia (https://aesa.net/es). The company is focused on the development of high efficiency energy solutions applied to a wide range of industrial processes, and in the tertiary sector, with a particular focus in the fields of cogeneration, thermal recovery. AESA carries out all the activities required in any given energy project: from preliminary studies, inception, concept studies, engineering, procurement assistance, construction, commissioning, testing and O&M management. AESA is a pioneer in the provision of services and solutions for the decarbonization of Spanish industry in Spain and abroad and has developed a specific methodology and service offering focused on this theme and market opportunity.
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 14, 2021) 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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