In the 78-acre Fisherstown Energy Park at Fisherstown in County Longford, Ireland, Hydrogen Utopia International has committed to lease a 2.5 acre greenfield site and has also entered into an option to do so.
This is anticipated to result in the construction of HUI’s first fully operational waste plastic to hydrogen facility in the European Union.
The Irish county of Longford is slated to receive a significant portion of the EU Just Transition Fund. It is located in the Irish Midlands. The Territorial Fair Transition Plan for Ireland and its associated program, which will support the Irish Midlands with €169 million from 2022 to 2027, received the green light from the Irish government on November 29, 2022, and the European Commission approved the plan on December 15, 2022.
In addition to having its own electrical grid connection and electrical substation, Fisherstown Energy Park also offers HUI the chance to make use of the nearby waste water treatment facilities that were catered to a sizable denim manufacturing company. The availability of existing infrastructure should result in significant construction cost savings when establishing a plant because the expenses to create such facilities are often very high.
An HUI facility may be powered by a solar farm that has been given permission to be built on the site. In February 2023, the Longford County Council also authorized proposals for the construction of a stationary battery energy storage facility on the property. The M4 and M6 highways, which provide access to Dublin and Galway, are conveniently located near Fisherstown Energy Park and have adequate road access.
A three-year option to purchase a 25-year lease of the Site has been given to HUI’s fully owned Irish subsidiary under the terms of the Option. Over the first 12 months of the Option, HUI paid an option premium to the freeholder; the Option then provided for additional quarterly payments for the remainder of the Option period.
HUI will immediately begin planning, environmental, and operational permitting applications for the Site, working with its professional advisers in Ireland, after agreeing to and entering into the Option, the draft lease of the Site, and any relevant ancillary documentation.
