Published on 24 Sep 2023 on Zacks via Yahoo Finance
Fusion Fuel (HTOO) Receives Purchase Order for HEVO-Chain Tech
Fusion Fuel Green HTOO announced that it has received an order for its 300 kW PEM electrolyzer and associated balance of plant equipment. The signing of the contract with a global leader in innovative and sustainable building solutions, reflects a major step forward in the commercialization of its HEVO-Chain system.This will also be the first deployment of Fusion Fuel's oxygen capture system, which will allow the facility to capture both the hydrogen and oxygen generated during water electrolysis.For every kilogram of hydrogen produced by electrolysis, eight kilograms of oxygen are produced. This oxygen is typically released into the ambient environment. The client now has the ability to further lower its environmental impact by harvesting this oxygen for various applications with the help of Fusion Fuel's oxygen capture system.Fusion Fuel will create this system using its plug-and-play HEVO-Chain technology. This employs a building-block approach using modular 20 kW Cubes to deliver green hydrogen solutions, which are adapted to unique customer needs.The company will develop the project in Spain. It expects the project to be fully installed and operational in the first half of 2024.HTOO is committed to hastening the energy revolution by developing disruptive, clean hydrogen solutions. The patented miniaturized Proton Exchange Membrane electrolyzer, the HEVO, and the company’s building-block approach to green hydrogen production enable unparalleled modularity and flexibility in the design and implementation of cost-competitive, decentralized green hydrogen systems.In addition to supplying third-party clients with hydrogen-producing devices, Fusion Fuel continues to secure future green hydrogen projects for its own project portfolio, which will be later developed for sale to infrastructure partners.
Price Performance
HTOO shares have lost 83.4% in the past year against the industry’s 22.1% growth.