Fusion Fuel announced that it has received provisional approval from the Portuguese government for an estimated ?5 million in grant funding to support the development of a 25 MW green hydrogen project located in Aveiro, Portugal. The grant approval was awarded as part of the second funding call of the Component 14 grant program which is focused on accelerating the energy transition by supporting the production of hydrogen and other renewable gases. The Company is also involved in a second submission for a 10 MW green hydrogen project, led by a Portuguese industrial company, which has also received funding approval.

In total, there were 21 proposals that received provisional approval through the C-14 program. Fusion Fuel?s HEVO-Aveiro project envisions a 25 MW green hydrogen facility using the Company?s proprietary HEVO-Chain technology along with associated balance of plant equipment. The plant would produce an estimated 2,100 tonnes of green hydrogen per annum, which is expected to be used for industrial process heat by the local ceramic industry in Aveiro, Portugal.