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Fusion Fuel Green PLC and Ampol Ltd Agree to Jointly Develop Green Hydrogen Production Plant with a View to Serving the Australian Market
DUBLIN, Ireland, May 20, 2021 (GLOBE NEWSWIRE) -- Fusion Fuel Green PLC (NASDAQ: HTOO), ("Fusion Fuel"), a green hydrogen technology company, is pleased to
About this update from Fusion Fuel Green Plc
[{"type":"text","content":"DUBLIN, Ireland, May 20, 2021 (GLOBE NEWSWIRE) -- Fusion Fuel Green PLC (NASDAQ: HTOO), (\"Fusion Fuel\"), a green hydrogen technology company, is pleased to announce that it has executed a Heads of Agreement (“HoA”) with Ampol Limited (ASX: ALD) to develop a green hydrogen production plant in Queensland, Australia. The project includes the installation of a demonstrator plant for the production of green hydrogen, using Fusion Fuel’s proprietary HEVO-SOLAR technology, at Ampol’s Lytton refinery site in Brisbane. It is expected that the plant will be commissioned and operational within the next 12 months, with the HoA also providing a framework for the companies to enter a 50/50 joint venture to pursue other green hydrogen opportunities in the region. Commenting on the agreement, Jeffrey Schwarz, the Chairman of Fusion Fuel said: “This represents an important step in our plans to establish Fusion Fuel as a global player in the hydrogen ecosystem. Early on we identified Australia as a key market for us, as the country’s national hydrogen strategy seeks to position Australia as a major producer of green hydrogen. Australia’s abundance of solar energy makes it among the absolute best geographies for our HEVO-SOLAR solution, which combines concentrating photovoltaic technology with our proprietary microelectrolyzer, allowing us to produce green hydrogen at costs comparable to grey and brown hydrogen. The great distances Australians often must traverse can prove challenging for battery electric vehicles given their range limitations and extended recharging times. Green hydrogen solves both of those problems, with range and refueling time comparable to gasoline or diesel vehicles, all while being completely carbon-free. Australia is an importer of significant quantities of gasoline, diesel, and jet fuel, so our ability to produce green fuels domestically should prove economically compelling as well as climate friendly. As Australia’s largest and best-known distributor of fuels at both the wholesale and retail level, Ampol is the ideal partner for us.” Brent Merrick, Ampol’s Executive General Manager, Commercial said: “We are excited to collaborate with Fusion Fuel in this venture as we work to deliver our Future Energy and Decarbonisation Strategy. Our work in future energy is about finding solutions that can meet customers’ energy nee...