Fusion Fuel has secured a long-term green hydrogen offtake contract with a Spanish industrial group. The hydrogen is to be produced at a 2.5 MW green hydrogen project in Toledo, Spain that Fusion Fuel plans to develop in 2024. Earlier this year the project was awarded €3.3 million in grant funding from Spain’s H2 Pioneros programme.
The long-term supply agreement, which provides for the supply of 111.5 tonnes of green hydrogen per annum, marks yet another important milestone in the pre-FID development of the project. It also represents Fusion Fuel’s first green hydrogen offtake contract in Spain and, critically, a tangible commitment from one of Spain’s most prominent companies to make decarbonisation a strategic priority.
Commenting on the agreement, Javier Esteban, CEO of Fusion Fuel Spain, offered, “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 decarbonisation of an off-grid project, an application for which our modular technology and decentralised approach is uniquely well-suited. We have highlighted our focus on emergent use-cases for hydrogen, but for us to move the needle in decarbonisation, we also need to address legacy industrial segments as well.”
Frederico Chaves, CEO of Fusion Fuel, added, “This agreement is an exciting milestone in the execution of our differentiated commercial strategy of providing end-to-end hydrogen solutions, from market-leading electrolyser technology to turnkey project development and hydrogen sales. This offtake contract helps extend our footprint in the industrial decarbonisation space and brings us one step closer to monetising the value we have created in the development of the project.”