Fusion Fuel has entered a long-term green H₂ offtake contract with a Spanish industrial group. The H₂ is to be produced at a 2.5-MW green H₂ project in Toledo, Spain that Fusion Fuel plans to develop in 2024. Earlier this year the project was awarded €3.3 MM in grant funding from Spain’s H₂ Pioneros program.

The long-term supply agreement, which provides for the supply of 111.5 tpy of green H₂, marks yet another important milestone in the pre-FID development of the project. It also represents Fusion Fuel’s first green H₂ offtake contract in Spain and, critically, a tangible commitment from one of Spain’s most prominent companies to make decarbonization a strategic priority.

Javier Esteban, CEO of Fusion Fuel Spain, said, “We are excited to announce this agreement with a fellow pioneering company in the green H₂ energy transition because this project involves the decarbonization of an off-grid project, an application for which our modular technology and decentralized approach is uniquely well-suited. We have highlighted our focus on emergent use-cases for H₂, but for us to move the needle in decarbonization, we also need to address legacy industrial segments as well.”

Frederico Chaves, CEO of Fusion Fuel said, “This agreement is an exciting milestone in the execution of our differentiated commercial strategy of providing end-to-end H₂ solutions, from market-leading electrolyzer technology to turnkey project development and H₂ sales. This offtake contract helps extend our footprint in the industrial decarbonization space and brings us one step closer to monetizing the value we have created in the development of the project.”