Fusion Fuel Signs Agreement with KEME Energy, Developing Solar-to-Green Hydrogen Farm
Feb 22, 2022 By MarketDepth
Fusion Fuel Green plc (NASDAQ: HTOO), and emerging leader in the green hydrogen sector, announced Tuesday that it has entered into an agreement with KEME Energy to install a green hydrogen production facility in Sines using its integrated HEVO-Solar technology. The project, which is expected to require a capital investment of 2.54 million euros, would have an equivalent electrolysis capacity of 1.22 MW and produce an estimated 77 tons of green hydrogen per annum. The output from the facility will be used by the Sines Renewable Energy Community.
“This agreement with a technological partner of international excellence like Fusion Fuel, and in an international logistics platform capable of receiving relevant counterparts from the maritime-port, industrial and logistics sectors is proof of the ability of green hydrogen to be a decentralized solution to support the decarbonization of the industrial and commercial transport sectors, as well as a complement to the storage and production of electrical energy for use in cities, ports or industrial areas, as we can find in an integrated and exemplary way in Sines.”Miguel Matias, CEO of KEME Energy
The project, which has already been approved for 2.4 million euros of grant funding from Portugal’s POSEUR program, will be developed in the Sines Industrial and Logistics Zone (“ZILS”), where KEME Energy has leased 4.8 hectares from AICEP Globalparques. This project is expected to be a net contributor to the aggressive decarbonization targets laid out by the Portuguese government for the industrial and heavy transport sectors.
“The project we are announcing is particularly important, due to its pioneering design configuration, to be carried out in a recognized strategic location in Sines, and will be key as a basis for the expansion and mobilization of the Portuguese National Hydrogen Strategy adopted in 2020. Hydrogen production will facilitate and accelerate the energy transition across various sectors, in particular industry. Sines is an ideal location for the development of a green hydrogen ecosystem, not only because of its access to renewable energy sources at very competitive prices, but also because it is a strategic geographical location for export, which we expect to become one of the most important hydrogen production and transaction centers in Europe.”João Wahnon, Fusion Fuel’s Head of Business Development