Green hydrogen company Fusion Fuel buys 14 thousand square meter factory in Benavente Portugal.
[Jornal de Negocios] Fusion-Fuel, a Portuguese company producing electrolysing and green hydrogen, bought a 14,333 square meter plant in the city of Benavente, in the district of Santarém, expanding operational capacity in Portugal. The amount of the transaction, which was advised by real estate consultant Savills, was not disclosed.The industrial facilities will be remodeled and automated, specifies the statement from Savills, so that the Portuguese can guarantee the production of electrolysers.
Founded in 2018, Fusion-Fuel began by developing Hevo-Solar technology, a photochemical green hydrogen generator that enables the decentralized production of green hydrogen from solar energy.
Later, the company began a merger process with the U.S. fund HL Acquisitions (SPAC) and, through this transaction, the Fusion-Fuel group was created, whose holding company was listed on the Wall Street Exchange on the Nasdaq index in December last year.
Miguel Lourenço, “head of Business Management” of Fusion-Fuel, states that:
This operation, together with the capital increase carried out simultaneously, allowed an initial capitalization of about 60 million euros, and a value of around 30 million euros is intended for investment with the purpose of providing the company with an industrial-scale electrolysing capacity, resulting from the design and development, already underway, of highly robotized production lines”.
The same official points out that by 2025, the group “plans to make a total investment volume of around EUR 570 million.
Samuel Lima, senior consultant in the department of industrial and logistics at Savills, says that:
It is very gratifying to accompany Portuguese companies with this importance, which contribute to a more sustainable planet, reducing the ecological footprint worldwide.
“On the other hand, we are pleased to put our market know-how at the service of investors and operators, allowing us to find the most demanding and specific solutions, such as this process.”
Highlight
- Fusion-Fuel has purchased a plant of more than 14,000 square meters in Benavente, strengthening the operational capacity of green hydrogen production in Portugal.
Green hydrogen company buys 14,000 square meter plant in Benavente, July 12, 2021
