Fusion Fuel Receives Approval For €10M Grant From Portuguese Government

  • Fusion Fuel Green PLC HTOO has confirmed that the Portuguese government has granted an estimated €10 million as part of Component 14 ("C-14") of the Portuguese Recovery and Resilience Plan to develop its 6.6MW HEVO-Industria green hydrogen project in Sines, Portugal.
  • C-14 is focused on accelerating the energy transition by supporting the production of hydrogen and other renewable gases.
  • João Wahnon, Fusion Fuel's Head of Business Development, said, "We are thrilled to have received this approval for funding support from C-14, which we view as further validation of our novel and disruptive solar-to-hydrogen technology."
  • The HEVO-Industria project is expected to take FID in the first half of 2023 and requires €25 million of capital investment, consists of 300 HEVO-Solar units along with a hydrogen refueling station and associated balance of plant to support local industry, and will produce an estimated 764 tonnes of green hydrogen per annum.
  • Price Action: HTOO shares are trading higher by 4.95% at $8.81 on the last check Thursday.
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