Fusion Fuel Green PLC Announces MoU with CEEES to Develop Green Hydrogen Fueling Infrastructure in Spain
DUBLIN, Ireland, March 04, 2021 (GLOBE NEWSWIRE) -- Fusion Fuel Green PLC (NASDAQ: HTOO), a green hydrogen technology company, is pleased to announce that it has signed an MoU with Confederación Española de Empresarios de Estaciones de Servicio (CEEES), the Spanish Confederation of Operators of Service Stations. The partnership will seek to jointly develop green hydrogen production capacity in Spain and supply cost-competitive green hydrogen to confederation members to build out a domestic hydrogen refueling network.
Fusion Fuel will serve as the preferred supplier of electrolyzer technology to CEEES, using its market-leading HEVO-SOLAR solution to supply members of the group with cost-competitive green hydrogen for their refueling stations. Fusion Fuel’s technology uses solar radiation to produce green hydrogen without carbon emissions and can be deployed in modular fashion, making it an ideal solution for the Spanish mobility market, which while still in the early stages of development is expected to grow dramatically over the next decade.
CEEES represents thousands of service station owners across Spain and has a firm commitment to leading the transition to sustainable mobility, having recently inaugurated the first hydrogen fueling station for long haul vehicles in Madrid, Spain. CEEES and Fusion Fuel will aim to develop small-scale green hydrogen plants for the initial hydrogen refueling stations in its network and expand the production footprint as the market develops.
Spain has announced a long term and strategic commitment to develop an extensive hydrogen fueling station network as part of its ambitious National Hydrogen Strategy, “Hoja de Ruta del Hidrógeno”. The production of clean hydrogen at scale is essential to achieving the decarbonization targets. Fusion Fuel, through its Spanish JV entity, will look to play a leading role in supplying the technology to establish a robust green hydrogen infrastructure, and in some cases be the direct provider of the green hydrogen to refueling station owners.
“One of the strategic objectives we have laid out is the production of over 20,000 tons of green hydrogen annually by 2025 from company owned projects, and we believe the transportation opportunity in Spain will help us achieve that target,” offered Joao Wahnon, Head of Business Development at Fusion Fuel. “Thanks to the excellent solar resource in Spain, our HEVO-SOLAR solution will be able to produce green hydrogen extremely competitively, making it a great market for our technology. We are excited to join with CEEES to begin to develop the green hydrogen infrastructure and hydrogen refueling network laid out in Spain’s National Hydrogen Strategy.”
Jorge de Benito, President of CEEES, added: “With the inauguration of our first hydrogen refueling point earlier this year, CEEES has demonstrated its intention to pioneer the future of sustainable mobility in Spain. Our partnership with Fusion Fuel further reinforces this commitment and will enable us to leverage best-in-class technology to produce truly competitive green hydrogen from sunlight alone with zero emissions.”
About Fusion Fuel Green plc.
Fusion Fuel Green plc. is an emerging leader in the green hydrogen space, committed to accelerating the energy transition and decarbonizing the global energy system by making zero-emissions green hydrogen commercially viable and accessible. Fusion Fuel has created a revolutionary proprietary electrolyzer solution that allows it to produce hydrogen at highly competitive costs using renewable energy, resulting in zero-carbon emissions. Fusion Fuel’s business lines includes the sale of electrolyzer technology to customers interested in building their own green hydrogen capacity, the development of hydrogen plants to be owned and operated by Fusion Fuel and active management of the portfolio of such hydrogen plants as assets, 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
About CEEES – Confederación Española de Empresarios de Estaciones de Servicio
The Spanish Confederation of Service Station Employers (CEEES) is a national, non-profit entity established more than forty years ago with the aim of being the meeting place for all Spanish Service Station employers. Since then, it has focused its activity on representing its associates before the various national, regional and local institutions and bodies, in defense of their professional activity and common action to obtain moral and material improvements of a general nature for the sector. The confederation currently represents thousands of service station owners in Spain.
For more information, please visit https://ceees.com
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. 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. The Company has based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Some or all of the results anticipated by these forward-looking statements may not be achieved. Further information on the Company’s risk factors is contained in our filings with the SEC. Any forward-looking statement made by us 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 us to predict all of them. The Company 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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