Fusion Fuel Consortium Awarded €36 Million in Grant Funding from Portugal’s C-05 Mobilizing Agendas for Business Innovation
Summary
SABUGO, Portugal, Dec. 07, 2022 (GLOBE NEWSWIRE) -- Fusion Fuel (NASDAQ: HTOO) announced today that the company has been approved for a total of 36 million in grant funding for its Sines Green Hydrogen Valley Alliance through Component 5 (C-05) of Portugal\xb4s Recovery and Resilience Plan. The component Mobilizing Agendas for Business Innovation is intended to align stakeholders from across the entire value chain to develop the domestic green hydrogen ecosystem. Its the largest funding allocation to date by the Portuguese government as part of the National Recovery and Resilience Plan, a tangible expression of Portugals commitment to the energy transition effort and ambition to be at the forefront of the global green hydrogen economy. The C-05 grants secured by the Sines Green Hydrogen Valley Alliance will give us a substantial head start and position us to deliver on that objective. Fusion Fuel has created a modular, integrated solar-to-hydrogen generator, powered by a proprietary miniaturized PEM electrolyzer, that enables off-grid production of green hydrogen.