Fusion Fuel Green signed a ten-year offtake contract with European developer Hydrogen Ventures for thirty tons of green hydrogen per annum.
- Fusion Fuel Green PLC (NASDAQ: HTOO) has signed a ten-year offtake contract with European developer Hydrogen Ventures Ltd for thirty tons of green hydrogen per annum.
- First orders are expected to be delivered in the fourth quarter of 2023. The financial terms were not disclosed.
- The hydrogen will be produced at the company’s projects in Evora, Portugal, where Fusion Fuel is expanding its production capacity to roughly 50 tons per annum by year-end.
- Hydrogen Ventures expects to use the hydrogen for mobility applications in Portugal.
- “With our decentralized, distributed approach to hydrogen production, and robust project pipeline in Portugal, Fusion Fuel is well positioned to make green hydrogen accessible to a wide range of stakeholders, particularly for some of the more emergent applications – like mobility – that ascribe the highest value for green hydrogen today,” said Pedro Caçorino Dias, Fusion Fuel’s Head of Portugal.
- The contract represents Fusion Fuel’s second hydrogen purchase agreement in Portugal to date.
- Price Action: HTOO shares closed lower by 6.69% at $2.37 on Monday.
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Fusion Fuel Inks New 10-Year Hydrogen Purchase Agreement In Portugal, March 28, 2023
