Under the agreement, the parties will develop the green hydrogen ecosystem in Italy and select markets in the MENA region.
The inaugural project under the agreement is a 1.25 MW green hydrogen pilot project to be developed at Duferco's industrial site in Giammoro, Sicily.
Fusion Fuel is expected to supply 50 of its HEVO-Solar trackers for the proposed project, which would be installed in 2024.
The facility would produce roughly 46 tons of green hydrogen per year which would be used to power a molten carbonate fuel cell (MCFC) system.
The companies expect to leverage Duferco's local sales network, knowledge of local markets, and deep shipping and logistics expertise to develop a pipeline of development opportunities and turnkey technology-sale projects.
Price Action: HTOO shares are trading higher by 4.82% at $3.48 on the last check Friday.
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