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Green Hydrogen Leader Fusion Fuel Announces Third Quarter 2021 Investor Update

By November 17, 2021 3   min read  (492 words)

November 17, 2021 |

Fuel Cells Works, Fusion Fuel Green Hosts Third Quarter 2021 Investor Update

DUBLIN, Ireland — Fusion Fuel Green PLC (NASDAQ: HTOO) (“Fusion Fuel”), an emerging leader in the green hydrogen sector, today announced financial results for the third quarter ended September 30, 2021. The quarterly shareholder letter is available on the Fusion Fuel website at: https://ir.fusion-fuel.eu/financials-filings/earnings-releases

Third Quarter 2021 and Subsequent Business Highlights

  • Entered into an EPC agreement with Exolum to deliver a turnkey 0.42 MW Green Hydrogen Plant and a Hydrogen Refueling Station.
  • Received approval for €4.3m in POSEUR funding for Fusion Fuel´s HEVO-Sul project. Fusion Fuel will also supply technology for projects submitted to POSEUR by PRIO Energy and KEME Energy, which received funding approval for €2.4m and €2.5m respectively.
  • Announced the HEVO Ammonia Morocco Project at a ceremony in Rabat, to be co-developed with CCC (a globally diversified company specializing in Engineering and Construction), and with Vitol managing the offtake of the green hydrogen.
  • Appointed André Antunes as Chief Production Officer and Member of Executive Committee.
  • Grupo ISQ, an independent auditor, conducted performance test of the HEVO-SOLAR at the Evora plant. The test successfully validated the operation of the system and showed 10+% improvement in performance compared to the previous generation.
  • Submitted funding applications for 6 projects for various programs in Portugal.
  • Started the licensing process for 8 projects across Portugal and Spain.
  • Appointment of Mario Garma as Head of EMEA, Member of the Executive Committee.
  • Appointment of David Lovell as Head of Australian Operations, Member of the Executive Committee

Frederico Figueira de Chaves, Fusion Fuel’s Chief Financial Officer, commented, “We continue to see green hydrogen as critical to global decarbonization. It has been great to see both the renewed investor confidence in the sector more recently and the broad climate and decarbonization commitments at the COP26 meetings. With the expected commissioning of our Evora plant, the first commercial contract in place, and the continued development of our new production facility at Benavente, we expect to end the year well-positioned for 2022.”

Third Quarter Update Conference Call and Webcas

Fusion Fuel will host a live conference call and webcast on November 17, 2021, at 10:00am ET

Join the webcast:

The webcast may also be accessed through the Events page on the Fusion Fuel website (www.fusion-fuel.eu). A playback will be available for replay online for a period of time following the call.

About Fusion Fuel Green plc

Fusion Fuel is an emerging leader in the green hydrogen sector committed to accelerating the energy transition through the development of disruptive, clean hydrogen technology. Fusion has created a revolutionary, integrated solar-to-hydrogen solution that enables off-grid production of hydrogen with zero carbon-emissions. Fusion Fuel’s business lines include the sale of electrolyzer technology to customers interested in building their own green hydrogen production, the development of turnkey hydrogen plants to be owned and operated by Fusion Fuel, and the sale of green hydrogen as a commodity to end-users through long-term hydrogen purchase agreements.

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