Fusion Fuel Green Gets Approval For €4.3M In POSEUR Funding For HEVO-Sul Project

Fusion Fuel Green PLC HTOO has received approval from Portugal's Operational Program for Sustainability and Efficient Use of Resources (POSEUR) for its proposed HEVO-Sul project in Sines, Portugal. Fusion Fuel will receive €4.3 million for the project.
The Portuguese government has allocated €40 million in direct grants for the POSEUR program, which aims to support green hydrogen and other renewable gases.
The HEVO-Sul project is comprised of 178 HEVO-SOLAR units and will produce approximately 418 tons of green hydrogen annually.
Fusion Fuel has signed a lease agreement for the land to be used for the HEVO-Sul project. Construction is expected to commence in late 2021. The operations are expected to begin no later than the end of 2022.
Additionally, Fusion Fuel is the technology provider for two other projects submitted to the POSEUR program, decisions on which are expected in the coming weeks.
Price Action: HTOO shares are trading higher by 2.20% at $14.89 during the premarket session on Monday.