Fusion Fuel Green PLC Submits 100 MW Electrolyzer Project to the European Green Deal Call
January 27 2021 - 3:15PM
Fusion Fuel Green PLC (NASDAQ: HTOO), ("Fusion Fuel", or "the
Company"), an emerging leader in the green hydrogen sector,
announced that yesterday the Company submitted its proposed
“HEVO-SOLAR Sines” project to the European Green Deal Call.
Fusion Fuel Green PLC submitted the project, called
HEVO-SOLAR Sines, in collaboration with four large international
companies representing Portugal, Spain, France, and the
Netherlands. The proposed project, which would require a total
capital investment of € 136 million, provides for the development
of a 100MW Electrolyzer Plant, which would generate 10’250 tons of
Green Hydrogen per year to be used in the production of Green
Ammonia.
The European Commission has allocated € 1 billion
to the Green Deal Call, which is intended to stimulate Europe's
economic recovery and accelerate the transition to
carbon-neutrality by 2050. One of the mandates in the Green Deal
framework, “Develop and demonstrate a 100 MW electrolyzer upscaling
the link between renewables and commercial/industrial applications”
(Topic ID: LC-GD-2-2-2020), is the funding program for which the
group submitted the project.
The companies involved in HEVO-SOLAR Sines project
span the entire commercial value chain, from the capture of solar
energy and production of Green Hydrogen, to the production,
off-take, and logistical management of Green Ammonia. This project
is closely aligned with the aggressive decarbonization efforts
being made in Europe, as the production of ammonia is a significant
source of carbon emissions. Producing one ton of “Brown” Ammonia
emits two tons of CO2 whereas Green Ammonia has zero carbon
emissions.
Fusion Fuel will be holding an Investor Day
tomorrow, Thursday January 28, where it will provide an update on
market dynamics, financial projections, and business development
activities. All are invited to participate in the event by
registering here. A replay of the Investor Day will also be
available on the Company’s website for 12 months. In conjunction
with the Investor Day, Fusion Fuel will be publishing a new
investor presentation, which will be available for download on the
investors section of the Company’s website.
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 include 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/.
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 are intended to identify forward-looking statements.
The Company has based these forward-looking statements largely on
current expectations and projections about future events and
financial trends that the Company believes may affect its financial
condition, results of operations, business strategy and financial
needs. Such expectations and projections involve a number of known
and unknown risks, which may be outside of the Company’s control.
Accordingly, some or all of the results anticipated by these
forward-looking statements may not be achieved. The forward-looking
statements and projections herein should not be regarded as a
representation or prediction that the Company will achieve or is
likely to achieve any particular results. The Company cautions
readers not to place undue reliance upon any forward-looking
statements and projections, which speak only as of the date made.
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.
Use of Social Media as a Source of Material
News
The Company uses, and will continue to use, its
LinkedIn profile, website, press releases, and various social media
channels, as additional means of disclosing information to
investors, the media, and others interested in the Company. It is
possible that certain information that the Company posts on social
media or its website, or disseminates in press releases, could be
deemed to be material information, and the Company encourages
investors, the media and others interested in the Company to review
the business and financial information that the Company posts on
its social media channels, website, and disseminates in press
releases, as such information could be deemed to be material
information.
Investor Relations Contact
Cody Slach and Georg VenturatosGateway
IRHTOO@gatewayir.com
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