Fusion Fuel announces €2 million tech sale contract with KEME energy for 1,22 MW green hydrogen project in Portugal. - Hydrogen-Central

KEME Energy’s project in Sines has secured a €2.4 million POSEUR grant; will be developed in 2023 using Fusion Fuel’s HEVO-Solar technology.

Fusion Fuel (Nasdaq: HTOO) announced that it has entered into a technology sale agreement with KEME Energy (“KEME”) to supply its solar-to-hydrogen system for a 1.22 MW green hydrogen project located in Sines, Portugal. The two companies had previously announced the execution of a collaboration agreement this past February.

The project, which secured a €2.4 million grant from Portugal’s POSEUR programme in late 2021, will be developed in ZILS, the Sines Industrial and Logistics Zone, and will consist of 62 HEVO-Solar trackers that will generate an estimated 77 tonnes of green hydrogen per annum.

The hydrogen produced is expected to help meet local demand from customers in the nascent hydrogen mobility sector. Fusion Fuel expects to begin construction of the facility early next year and achieve commercial operation in the second half of 2023.

This project is the starting point of our green hydrogen strategy in Portugal. We believe that green hydrogen will be fundamental to replace fossil fuels in industrial processes, heavy transport and critical energy backup services like data centres. Fusion Fuel’s decentralized HEVO-Solar technology is the most efficient in the market and its purpose-built approach allows us to scale into market demand over time. It is important to understand that in contrast to fossil fuels that have to be extracted from specific regions, the green hydrogen production project we are implementing can be replicated almost anywhere in the world, wherever the sun shines. The energy independence that green hydrogen offers is critical for Portugal and Europe. KEME is at the forefront of this new energy value chain being created and we look forward to developing more projects with Fusion Fuel in the future.

Miguel Matias, CEO of KEME Energy

We are thrilled to announce the execution of this €2 million technology sale contract with KEME Energy, expanding our commercial footprint in the Sines region and building on our market-leading position in Portugal. It also spotlights the continued rollout of our mobility backbone for the Iberian market, a critical pillar of our commercial strategy. Coming on the heels of the €5 million Gedisol tech sale announcement last week, we are seeing the maturation of our project pipeline as we begin to execute on our commercial objectives. We hope this will be the first of several projects we develop alongside KEME and look forward to producing green hydrogen in Sines in 2023.

Pedro Caçorino Dias, Fusion Fuel’s Head of Commercial for Portugal