Fusion Fuel has received confirmation from the Portuguese government that it will receive an estimated €10-MM grant as part of Component 14 (C-14) of the Portuguese Recovery and Resilience Plan to develop its 6.6-MW HEVO-Industria green H₂ project in Sines, Portugal. C-14 is focused on accelerating the energy transition by supporting the production of H₂ and other renewable gases.

The HEVO-Industria project, which is expected to take FID in the first half of 2023 and require €25-MM of capital investment, consists of 300 HEVO-solar units along with a H₂ refueling station and associated balance of plant to support local industry, and will produce an estimated 764 tpy of green H₂. The facility will be equipped with Fusion Fuel’s HEVO-Night solution, which will enable the production of green H₂ by HEVO-solar generators overnight or during periods of low solar irradiation. The green H₂ to be produced is expected to be used for mobility and industrial applications in Sines or blended in the natural gas grid.

Zach Steele, Fusion Fuel Co-Head of Fusion Fuel’s Head of Business Development said, “HEVO-Industria is one of several projects focused on building out the hydrogen mobility backbone in Iberia, headlined by our Exolum project currently being built in Madrid. Our ability to deploy decentralized, small-scale green hydrogen production commercially and co-locate it with refueling stations is a meaningful competitive advantage at a time when scale is viewed as the only way to drive down cost. On-site production allows us to avoid last-mile logistics of hydrogen, which can add €1-2/kg to the delivered cost to the end user. We believe this is a winning strategy for us, particularly as governments in Europe and abroad begin to strengthen their commitment to hydrogen mobility.”

Pedro Caçorino Dias, Head of Commercial for Portugal said, “This is a tremendous accomplishment for Fusion Fuel, one which further strengthens our partnership with, and commitment to, the country’s growing hydrogen ecosystem. Our €10-MM grant was the largest single-project grant awarded in the application. It’s great to see the wheels beginning to turn on these funding programs, which are critical to accelerating the development of the hydrogen economy here in Portugal and making Portugal a leader in the energy transition on the global stage.”