A long term green hydrogen offtake contract has been signed between Fusion Fuel and a Spanish industrial group, with plans to produce 2.5MW of green hydrogen through a project based in Toledo, Spain beginning in 2024 – following a €3.3m in grant funding from Spain’s H2 Pioneros program.
The supply agreement will result in of 111.5 tons of green hydrogen being supplied each year, viewed as a significant milestone in the pre-FID development of the project. The project also represents Fusion Fuel’s first green hydrogen offtake contract in Spain.
“We are excited to announce this agreement with a fellow pioneering company in the green hydrogen energy transition, in particular, because this project involves the decarbonization of an off-grid project, an application for which our modular technology and decentralized approach is uniquely well-suited,” said Javier Esteban, CEO, Fusion Fuel Spain. “We have highlighted our focus on emergent use-cases for hydrogen, but for us to move the needle in decarbonization, we also need to address legacy industrial segments as well.”
“This agreement is an exciting milestone in the execution of our differentiated commercial strategy of providing end-to-end hydrogen solutions, from market-leading electrolyzer technology to turnkey project development and hydrogen sales,” commented Frederico Chaves, CEO, Fusion Fuel. “This offtake contract helps extend our footprint in the industrial decarbonization space and brings us one step closer to monetizing the value we have created in the development of the project.”