Fusion Fuel and Electus Energy Announce Exclusive Agreement to Develop a 75 MW Green Hydrogen Project in Bakersfield, California - Seite 2

"We are excited about partnering with Fusion Fuel to implement their unique technology and expertise in one of our first large-scale green hydrogen production facilities in California,” said Andrew Greene, Electus Energy’s Chief Executive Officer and Co-Founder. “The most critical part of implementing any successful hydrogen mobility program is the ability to source reliable, clean hydrogen fuel at an attractive price, and we believe our partnership with Fusion Fuel will help lower the cost of fuel for our customers and accelerate the adoption of zero-emission hydrogen vehicles for all automotive applications, including heavy trucking, public transportation and automobiles.”

Zachary Steele, Co-Head of Fusion Fuel, added, “North America has always been a focal point of Fusion Fuel’s growth strategy as we build on our successes in Iberia and begin to look beyond Southern Europe. However, the passage of the game changing Inflation Reduction Act earlier this year caused a dramatic acceleration of those plans. The production and investment tax credits promise to significantly improve the already attractive economics of our solar-to-hydrogen solution in many markets across the US.”

“Bakersfield will be the first anchor project of our US strategy, which is heavily focused on the hydrogen mobility and logistics opportunity and envisions a hydrogen highway from California to Texas. While our HEVO-Solar technology is best suited for markets with high solar irradiance, the expected introduction in 2024 of our newest product – HEVO-Chain – will make the entirety of North America part of our addressable market. In support of this strategy and to ensure we are positioned to move quickly to execute on Bakersfield and capitalize on the opportunity provided by the IRA, we will be ramping up our hiring efforts in the US as well as evaluating an investment in a domestic production facility to complement our new factory in Benavente, Portugal.”

About Fusion Fuel

Fusion Fuel is an emerging leader in the green hydrogen sector committed to accelerating the energy transition through the development of disruptive, clean hydrogen solutions. Fusion Fuel has created a modular, integrated solar-to-hydrogen generator, powered by a proprietary miniaturized PEM electrolyzer, that enables off-grid production of green hydrogen. Its business lines include the sale of electrolyzer technology to customers interested in building their own green hydrogen production, the development of turnkey hydrogen plants to be owned and operated by Fusion Fuel, and the sale of green hydrogen as a commodity to end-users through long-term hydrogen purchase agreements. For more information, please visit https://www.fusion-fuel.eu