Fusion Fuel Green and Elecnor Group Establish Partnership to Develop Green Hydrogen Generation Projects in Spain
April 29 2021 - 9:00AM
Fusion Fuel Green PLC (NASDAQ: HTOO), ("Fusion Fuel", or "the
Company"), a green hydrogen technology company, is pleased to
announce that it has reached a collaboration agreement with the
Elecnor Group (BME: ENO) for the development of green hydrogen
projects in Spain using Fusion Fuel’s HEVO-SOLAR technology. This
collaboration will target the development of solar-to-hydrogen
plants, leveraging Elecnor’s extensive commercial footprint and
expertise in the engineering, construction, and development of
renewable energy infrastructure projects, as well as its
diversification into green hydrogen production. Elecnor also has a
significant presence in the design and construction of industrial
process plants, many of which are potential consumers of green
hydrogen produced by Fusion Fuel’s technology.
Spain has announced a long-term strategic
commitment to develop an extensive hydrogen refueling network as
part of its ambitious National Hydrogen Strategy, “Hoja de Ruta del
Hidrógeno.” The production of cost-competitive clean hydrogen at
scale is essential to achieving the country’s decarbonization
targets. Fusion Fuel, through its Spanish JV entity, will seek to
play a leading role in providing the technology to decarbonize the
industrial and mobility sectors. “This agreement with Elecnor will
help strengthen the Company’s competitive position in the Spanish
green hydrogen economy,” explained Joao Wahnon, Head of Business
Development at Fusion Fuel. “We are very excited to be partnering
with Elecnor to bring our Spanish projects to reality. Their
experience and reach will be invaluable to us in this core
strategic market.”
Elecnor Group is a leader in the development,
construction, and operation of infrastructure projects in the
renewable energy, power and industrial plant sectors, in Spain and
abroad. Thanks to the experience of its pioneering solar
photovolatic subsidiary Atersa, Elecnor can manufacture and deliver
the components and equipment necessary for any solar PV system,
both off-grid and grid-connected. Atersa has participated in more
than 60 projects around the world totaling over 1 GW of
capacity.
About Elecnor Group
Elecnor is one of Spain's leading business
groups in the infrastructure, renewable energy, services and new
technologies industries. With over 60 years of continuous growth
and a presence in 55 countries, Elecnor focuses its activity on
different industries, from electricity, gas, industrial plants,
railways, telecommunications, water, control systems, construction,
the environment and installation maintenance to aerospace
engineering. Its strong international outlook has led it to a
continuous expansion process which has opened the doors to new
markets around the world, especially in Europe, North America,
Central America, South America, Africa, Australia and the Middle
East. Elecnor, which is listed on the Continuous Market, has a
highly qualified team of professionals and a total workforce of
18,203 employees. In 2020, the company reported revenues of 2,456
million euros and a consolidated net profit of 78.3 million
euros.
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.
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.
Investor Relations Contactir@fusion-fuel.eu
For more information, please visit
https://www.fusion-fuel.eu
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