Fusion Fuel to Supply Hevo-Solar Technology to Hive Energy for Green Hydrogen Plant in Spain
DUBLIN, Ireland, Feb. 02, 2022 (GLOBE NEWSWIRE) -- Fusion Fuel Green PLC (NASDAQ: HTOO), ("Fusion Fuel"), a green hydrogen technology company, announced today that it will supply its pioneering solar-to-hydrogen technology to the British renewable energy developer, Hive Energy, which will develop and build a green hydrogen production plant in Spain. The project has a target production capacity of 7,500 metric tonnes of green hydrogen per annum and is currently in the administrative processing phase. The parties expect to commence installation of the project beginning in 2023.
Hive Energy is a leading developer and reference partner for operators, industrial and logistics clients for the implementation of decarbonization and energy transition strategies. Hive Energy will continue with its plans to develop green hydrogen and hybrid renewable energy assets worldwide in close collaboration with key strategic partners and offtakers. The company also has a portfolio of over 3 gigawatts of green hydrogen and green ammonia production currently under development throughout Spain to supply the growing demand in the market.
Commenting on the deal, João Wahnon, Fusion Fuel’s Head of Business Development, offered: “we are excited to announce our inaugural project with Hive Energy in Spain where we will be able to harness the excellent solar resource to drive high yields from our HEVO Solar technology. We are confident this project will serve as a stepping stone to a very significant portfolio of Hive Energy green hydrogen plants using Fusion Fuel’s revolutionary technology.”
Giles Redpath, Hive Energy CEO, has spoken about the partnership with Fusion Fuel: “We are thrilled to be able to partner with such an innovative renewable process that we can learn and benefit from. I hope that this project is the start of an on-going partnership with Fusion Fuel that will allow us to continue creating suitable and efficient green hydrogen production.”
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
About Hive Energy
The Hive Energy Group, headquartered in the UK, is recognized internationally as a trusted large-scale renewable energy developer that is known for its innovative approach and market leading vision across both solar energy and circular economy industries. Hive has established some of the world’s largest solar plants and is establishing its patented technologies in Biochar Activated Carbon and Industrial Biomass Waste conversion. Since 2019, Hive has taken a leadership position in Green Hydrogen and Ammonia project development in several countries including South Africa, Spain and Argentina.
Hive Energy was founded in 2010 by Giles Redpath to participate in the significant solar PV expansion in the UK and now operates from 22 countries globally, including South Africa, Spain, Portugal, Italy, Greece, Turkey, Argentina, New Zealand, Croatia and Serbia. Hive has commissioned more than 100 grid connected Photovoltaic Solar plants ranging from small rooftop installations to super-parks over 400MW in size - in excess of 3000MW, with substantial growth in Spain recently. Hive is currently developing over 10,000MW of renewable energy projects - including the UKs largest solar park and world's largest battery storage project with a very large pipeline in various stages of process. To date Hive has deployed over £1.6billion in green energy projects, saving 2,135,237 tonnes of CO2 in 2021 alone.
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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