Fusion Fuel Green (NASDAQ: HTOO) has been awarded €3.3 million towards a 2.4 MW green hydrogen project aimed at industrial decarbonization in Toledo Spain. 

The grant is part of the H2 Pioneros Program, which has € 150 million earmarked for renewable hydrogen projects. The project is expected to produce roughly 110 metric tonnes of green hydrogen per annum and will replace carbon-intensive natural gas currently used in industrial processes. 

The subsidy represents approximately 57% of the total estimated capital cost of the project, which the company expects to build and commission during 2024.

Frederico Chaves, Co-Head of Fusion Fuel, stated: “Our project in Toledo now joins an ever-growing list of green hydrogen projects in Spain. With the land already secured, we hope to mobilize quickly to begin the permitting process with the aim of starting construction of the project in early 2024.”

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.

Shares of Fusion Fuel Green trade on the NASDAQ under the ticker symbol HTOO.