Fusion Fuel Green, Grupo Industrial CL and EREE Desarrollos Empresariales SL will develop a feasibility study to produce hydrogen using renewable energy and create synthetic fuels from captured carbon dioxide as part of a new partnership.
The companies yesterday (21st Jan) announced news of the partnership, stating that they had submitted a project to the Fondo Europeo de Recuperación: Hidrógeno Renovable in Spain, aiming to produce 35,000 tonnes of synthetic fuels using 100,000 tonnes of captured CO2 and 14,000 tonnes of green hydrogen created using Fusion Fuel’s technology.
If the study is successful, and the project approved, the companies expect to start development in 2022 and go live in 2023. Both the project and various elements of its design are still in progress; and the partnership say an investment of approximately €270m is needed. The project will last 25 years.
Fusion Fuel Spain’s Executive, Javier Esteban, said, “This exciting project marks an important milestone in the decarbonization targets announced and we believe the partnership between the two companies can truly deliver competitive synthetic fuels in the mid-term. This is a new market for Fusion Fuel with significant growth potential.”
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