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

Fusion Fuel Green PLC (NASDAQ: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.