Portuguese solar-to-hydrogen technology provider, Fusion Fuel has announced today (November 21) that four project it is involved in have been pre-selected for up to €12.9m ($13.2m) in grant funding.
If successful, the grants awarded through Spain’s H2 Pioneros Programme, aims to support commercial projects across the renewable hydrogen value chain, for which, Fusion Fuel is expected to supply a total of its 423 HEVO-Solar PEM units to the four projects.
The units will offer an equivalent of 10.5MW of electrolysis capacity, with hopes of reaching final investment decision (FID) in 2023, ahead of planned delivery on a turnkey basis in 2024.
According to the company, the four projects would generate €31.7m ($32.4m) in revenue, of which an estimated €16.4m ($16.7m) would derive from the sale of Fusion Fuel technology.
All four projects are to have secured land for development, with the companies expected to commence permitting once the terms of acceptance for the grants have been signed.
H2 View understands, three of the projects are focused on hydrogen refuelling, seemingly aligning with Fusion Fuel’s strategic focus on the development of a mobility backbone throughout Iberia. The remaining project is set to produce green hydrogen for local industrial use.
Joao Wahnon, Chief Business Development Officer at Fusion Fuel, “This is a crucial milestone for Fusion Fuel’s commercial aspirations in the Spanish market. With this first slate of approvals from the H2 Pioneros Programme, we are positioned to replicate the model we have successfully employed in Portugal: securing meaningful grant funding that enables us to quickly establish a leading position in the nascent green hydrogen ecosystem.
“These new projects will build on our experience in the green hydrogen mobility sector, a strategy that began with our Exolum project in Madrid, which will be Spain’s first ever integrated solar-to-green hydrogen refuelling station.”
H2 View’s Hydrogen Mobility Snap Summit – November 29
With the mobility pillar consistently a hot topic for hydrogen markets and arguably the most anticipated and relatable application of the energy transition, H2 View stages a Mobility Snap Summit this November to summarise the progress made in 2022 and look ahead to what’s still to come.
Infrastructure challenges remain. Questions linger over policy and implementation. Many wonder which strand of the transport sector will blaze the trail in hydrogen power first, and likewise which region. There are clear challenges ahead, yet considerable progress made in 2022 and bright spots ahead in 2023 and beyond.
Join H2 View this November for a half-day online event dedicated to unearthing the progress made, dissecting the challenges to be met and establishing the state-of-play across mobility as 2023 approaches. Find more information here.
Premium Subscribers to H2 View have access to this event as part of their subscription package; non-subscribers can secure access to the event with a delegate ticket ($99). All delegates can access the event on-demand from 1st December.