Fusion Fuel Green PLC Announces Partnership with CCC to Develop Green Hydrogen Demonstrator Plant in Middle East
May 06 2021 - 12:32PM
Fusion Fuel Green PLC (NASDAQ: HTOO), ("Fusion Fuel", or "the
Company"), a green hydrogen technology company, is pleased to
announce that it reached a collaboration agreement with
Consolidated Contractors Group S.A.L. (Offshore) (“CCC”), to
develop green hydrogen plants in the Middle East.
CCC and Fusion Fuel have agreed to cooperate on
projects involving the production of green hydrogen for potential
clients in the refining and petrochemical industries in order to
reduce their carbon footprint. The companies plan to develop
demonstrator plants in several countries in the region, namely
Oman, Kuwait, and Qatar.
“We are delighted to be partnering with the CCC
to open this new market,” explained Joao Wahnon, Head of Business
Development at Fusion Fuel. “The Middle East represents a big
opportunity and a very promising region for us, given the high
levels of solar exposure, strong appetite for green hydrogen
projects, and strategic geographic position between Europe and
Asia. We are excited to bring Fusion Fuel's revolutionary
technology to the Middle East.”
Dori Barakat, Director of Business Development
at CCC added: “We are very pleased to cooperate with Fusion Fuel
towards the building of Green Hydrogen and Ammonia plants and to
bring our expertise in construction projects, particularly in the
Middle East. This cooperation between our companies will generate
new opportunities in the development of green energies.”
About CCC
Consolidated Contractors Group S.A.L. (Offshore)
(“CCC”), is a globally diversified company specializing in
Engineering and Construction. Since its formation in 1952, CCC has
become one of the leading international contractors with a
worldwide turnover of over US$ 4 Billion and managing 60,000
personnel composed of more than 80 nationalities.
The Consolidated Contractors Group has
established a strong market presence in the Middle East, Africa,
and CIS countries. Through 7 decades of growth, the Group has been
successful in the highly competitive construction industry by
drawing on the unique experience, skills, and knowledge of all the
members of its Group.
CCC Group diverse portfolio captures all aspects
of the Engineering, Procurement and Construction (EPC) value chain,
starting with Feasibility Studies, into Design, Procurement,
Construction, Commissioning, Operations, and Maintenance as well as
Project Development for various sectors including Oil & Gas,
Buildings & Civil Engineering Works, Pipelines, Marine Works,
Heavy and Light Industrial Plants and Maintenance of Mechanical
Installations and Underwater Structures.
The company values are a family legacy carried
by the founders and transplanted into the organization. These
values are reflected in its projects’ enduring quality, high safety
records, and high ethical standards. It is committed to responsible
growth, serving local communities and society, and respecting the
environment.
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
Fusion Fuel Green (NASDAQ:HTOO)
Historical Stock Chart
From Mar 2024 to Apr 2024
Fusion Fuel Green (NASDAQ:HTOO)
Historical Stock Chart
From Apr 2023 to Apr 2024