Published on 28 Mar 2023 on Benzinga via Yahoo Finance
Fusion Fuel Inks New 10-Year Hydrogen Purchase Agreement In Portugal
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.Photo Via Company