A Portuguese-based company developing green hydrogen solutions received a €10 million grant to expand the production of green hydrogen — defined as hydrogen produced by splitting water into hydrogen and oxygen using renewable electricity.
1. Fusion Fuel
Portugal is about to boost green hydrogen production, following the €10 million grant awarded to the country’s-based Fusion Fuel to develop its 6.6MW green hydrogen project in Sines. Fusion Fuel is emerging as a leader in the green hydrogen sector, developing solutions to accelerate the energy transition through the development of disruptive and clean hydrogen technologies. There is unprecedented momentum around the world today to fulfil green hydrogen’s longstanding potential as a clean energy solution.
2. HEVO-Industria
The grant was awarded as part of the Portuguese Recovery and Resilience Plan, Component 14 (C-14) and the funding will be used to develop the HEVO-Industria green hydrogen project, which looks to integrate 300 of Fusion Fuel’s HEVO-Solar generators with a hydrogen refuelling station.
This is a tremendous accomplishment for Fusion Fuel, one which further strengthens our partnership with, and commitment to, the country’s growing hydrogen ecosystem. Our €10 million grant was the largest single-project grant awarded in the application.
Pedro Caçorino Dias, Head of Commercial at Fusion Fuel Portugal
Caçorino Dias went on saying how great it is “to see the wheels beginning to turn on these funding programs”, which are critical to accelerating the development of the hydrogen economy in Portugal and making the country a leader in the energy transition on the global stage.
Fusion Fuel’s HEVO-Solar solution is a modular, integrated solar-to-hydrogen generator, powered by a proprietary miniaturised PEM electrolyser, enabling off-grid production of hydrogen. As part of the HEVO-Industria project, Fusion Fuel said, the facility will be equipped with its HEVO-Night solution to allow the production of green hydrogen overnight and during period of little or intermittent sun.
3. Capital investment
According to the company’s press release, the project will require €25m ($25.4m) of capital investment and will produce approximately 764 tonnes of green hydrogen annually to be used for mobility and industrial applications in Sines or blended into the natural gas grid. The funds are expected to arrive in the first half of 2023.
We will continue to be amongst the foremost pioneers of green hydrogen in Portugal and are excited to add the HEVO-Industria project to our existing portfolio of projects in active development in Portugal, with HEVO-Sul in Sines and our two Evora projects.
João Wahnon, Head of Business Development at Fusion Fuel
As part of the REPowerEU plan announced by the European Commission in May 2022, a target has been set for ten million tonnes of green hydrogen to be produced in the EU by 2030 with a further ten million tonnes imported. The combined 20 million tonnes would require approximately 600GW of new wind and solar power, and 200GW of electrolysers.
