Poseur funds Fusion’s HEVO-Sul Project in Portugal
Fusion is also expecting a decision on funding for another two projects in the coming weeks.
Fusion Fuel Green Plc, an Irish innovative green hydrogen solutions provider, has received approval of €4.3 million funding for its proposed Hevo-Sul project in Sines, Portugal.
The Portuguese government has allocated €40 million in direct grants for Portugal’s Operational Program for Sustainability and Efficient Use of Resources (Poseur) program, which aims to support the production of green hydrogen and other renewable gases.
The Hevo-Sul project is comprised of 178 Hevo-Solar units, which will produce approximately 418 tonnes/year of green hydrogen. The hydrogen will be used in applications, including injection into the natural gas distribution network, ammonia production and pressurised cylinders for industrial uses.
The company has already signed a land lease agreement for the project. Construction is expected to start later this year with operations to commence by 2022. The project has a total investment value of €8 million.
Fusion Fuel, the technology provider for two other projects, is also expecting a funding decision from the Poseur program in the coming weeks.
Joao Wahnon, Head of Business Development at Fusion Fuel, said, “This project is of strategic value to Fusion Fuel as it builds on our portfolio of Company-owned projects and promises to validate further the attractiveness of our off-grid, solar-to-hydrogen technology to produce cost-competitive green hydrogen.”
