Fusion Fuel Green PLC

Fusion Fuel Green PLC was a provider of green hydrogen technology from its inception until 2024. The company initially offered a miniaturized PEM electrolyzer, called "HEVO," designed to attach to concentrated photovoltaic ("CPV") solar modules, forming a combined solar-to-green hydrogen system known as HEVO-Solar. In 2023, Fusion Fuel Green PLC began commercializing the HEVO-Chain solution, which involved HEVO units operating in sequence for scalability and compatibility with any electrical energy input. The company shifted its focus to the HEVO-Chain solution for new client proposals due to easier installation and licensing, lower space requirements, and versatile power input. Revenues from electrolyzer system sales began in 2023. From 2022 until 2024, Fusion Fuel Green PLC operated a solar-to-green hydrogen demonstration and research and development plant in Evora, Portugal. The company also operated an industrial electrolyzer production factory in Benavente, Portugal, which it sold in a 9.3 million transaction, generating net proceeds of approximately 7.5 million, subject to a lease-back contract. As of the end of 2023, Fusion Fuel Green PLC had contracts to provide its electrolyzer technology for five green hydrogen projects, with capacities ranging from 300 kW to 1.25 MW, and engineering and procurement services, including designs, specifications, balance of plant equipment, and turnkey project delivery, contingent on government support or grants. On February 16, 2024, the company's HEVO-Portugal project was selected for approval under the European Commission's Important Projects of Common European Interest Hy2Infra program.