Fusion Fuel Green PLC (NASDAQ:HTOO) said Monday that its wholly-owned subsidiary has entered into agreements with a green energy technologies provider to establish Bright Hydrogen Holding Company Limited.
Details
This new entity will serve as a dedicated platform for developing, financing, and delivering industrial-scale hydrogen projects, with the Partner providing up to 30 million euros (about $33 million) in funding.
In particular, the deal outlines the deployment in up to three tranches of up to 10 million euros under an investment and funding agreement with the Partner, subject to project approvals and governance.
The company appoints BrightHy Solutions as the exclusive manager responsible for development and project execution across the platform and its subsidiaries.
The agreements formalize the transition from the earlier non-binding term sheet with the Partner to a structured platform.
The platform combines BrightHy Solutions’ technical and commercial expertise with a long-term investment structure to support the development, construction, and operation of hydrogen projects.
Frederico Figueira de Chaves, CEO of BrightHy Solutions, said the company is rolling out a phased investment model for green hydrogen projects designed to reduce upfront capital requirements at the project level, with funding deployed in stages as milestones are approved, calling the approach “a novel solution for green hydrogen projects” that helps industrial players advance their decarbonization strategies.
Capital Deployment
Bright Hydrogen Holding, wholly owned by the Partner, will serve as the holding company for a portfolio of project-specific vehicles, while BrightHy Solutions will lead opportunity sourcing, evaluation, and project development.
Capital will be deployed in phases, only for projects approved by Bright Hydrogen Holding’s investment committee and board, including at least one Partner-appointed director.
BrightHy Solutions is expected to earn revenue as an asset manager through an annual management fee and a performance fee on returns above a set hurdle, contingent on financing and project execution, and may also generate revenue as the EPC contractor under separate project agreements.
The first approved project will be a green hydrogen production facility supplying an industrial cement operator in Spain, with construction expected to begin in the first quarter of 2026.
HTOO Price Action: Fusion Fuel Green shares were down 3.58% at $3.770 at the time of publication on Monday, according to Benzinga Pro data.
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