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Fusion Fuel Green PLC HTOOhas secured €3.6 million in grant funding through Component 5 of Portugal’s Recovery and Resilience Plan to develop a 1 MW decentralized green hydrogen production facility co-located with a hydrogen refueling station in Elvas, Portugal.
The company was previously awarded €36 million in C-5 funding for its “Sines Green Hydrogen Valley Alliance” consortium.
The grant is part of a broader funding award allocated to the Moving2Neutrality Alliance, a consortium of 13 partners spearheaded by Petrogal, a subsidiary of Galp Group.
Fusion Fuel’s project, which will be co-developed with Galp, will serve as the benchmark for exploring the concept of decentralized production of green hydrogen for mobility applications in Portugal and abroad.
The facility will also include an integrated hydrogen refueling station intended to serve light and heavy-duty commercial vehicles.
Price Action: HTOO shares closed lower by 6.35% at $2.80 on Friday.
