Fusion Fuel has been approved for a total of €36 million in grant funding for its “Sines Green Hydrogen Valley Alliance” through Portugal’s Recovery and Resilience Plan Component 5 (“C-05”).
The Mobilizing Agendas for Business Innovation component aims to bring together stakeholders from all points along the value chain in order to create a domestic green hydrogen ecosystem. Prior to this disclosure, the company had stated that it had been chosen for funding awards, subject to additional discussions with the Agenda Coordination Commission. These conversations are now over, and Fusion Fuel has filed the appropriate award contract that has been properly signed.
Fusion Fuel’s H2 HEVO-SINES project, a 3,000 HEVO-Solar plant with 75 MW of electrolysis capacity that will be built, owned, and run by the firm, will get €22.5 million of the consortium’s total award of €36 million. The project, which is anticipated to receive FID and start building in 2024, has already been developed on 121 hectares of property in the Sines area by Fusion Fuel.
The green hydrogen that will be produced is anticipated to be used for mobility applications, decarbonizing local industry, and blending into the natural gas system. Fusion Fuel will get an additional €3.5 million to support the research and development of its unique electrolysis process. Other initiatives in Fusion Fuel’s consortium for which the firm is a technological partner will get the remaining funding. These projects include those supported by KEME Energy, Transition2Green, and HyLAB Collaborative Laboratory.
As a consortium member on two other projects that have previously been chosen by the Agenda Coordination Commission for finance awards, Fusion Fuel is also qualified for extra C-05 money. These consortiums anticipate hearing about funding in the upcoming weeks.
