Fusion Fuel has been awarded a grant of €3.3 MM towards capital investment in a 2.4-MW green H₂ project aimed at industrial decarbonization in Spain. The grant has been awarded through the H₂ Pioneros Program, to which €150 MM had been earmarked to support commercial projects across the renewable H₂ value chain. H₂ Pioneros is one of the first funding calls under the Strategic Projects for Economic Recovery and Transformation (PERTE) program, a €6.9-B financing tool created under Spain’s recovery and resilience facility to support initiatives in renewable energy, green H₂ and energy storage. Fusion Fuel’s project is one of only 19 across Spain that were awarded grant financing through H₂ Pioneros.

The 2.4-MW project is planned to be developed in Toledo and is intended to supply green H₂ to local industrial customers to replace the carbon-intensive natural gas currently used in industrial processes. The green H₂ facility will feature the latest generation of Fusion Fuel’s HEVO solution and is expected to produce roughly 110 metric tpy of green H₂. The €3.3-MM subsidy represents approximately 57% of the total estimated capital cost of the project, which the company expects to build and commission during 2024.

Frederico Chaves, Co-Head of Fusion Fuel, said, “This is an important milestone for Fusion Fuel and our partner in Fusion Fuel Spain, as it represents the first allocation of PERTE funds in Spain, within an extremely competitive process with 129 projects evaluated. Our project in Toledo now joins an ever-growing list of green H₂ projects in Spain. With the land already secured, we hope to mobilize quickly to begin the permitting process with the aim of starting construction of the project in early 2024.”