By Dean Seal
Shares of Fusion Fuel Green nearly quadrupled after the company’s HEVO-Portugal project was picked by the European Commission for a special funding program.
The stock was changing hands at $4.70 in premarket trading after closing Thursday’s session at $1.20.
The green hydrogen company said Friday morning that its project was among 33 selected for approval under the Important Projects of Common European Interest Hy2Infra program.
The approval positions the company and its partners to start funding negotiations with relevant government stakeholders, as well as with the European Investment Bank, which has already committed to providing both financing and advisory services to selected projects.
Fusion Fuel Green’s project is to be developed in Sines, Portugal, and would produce 62,000 metric tons of green hydrogen annually.
Write to Dean Seal at [email protected]
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