Press Release

Fusion Fuel (FF) and Climate Change Ventures (CCV) are pleased to announce a strategic partnership to develop industry-leading Green Hydrogen projects in Southern Europe and North Africa. Joint projects under consideration include large-scale Green Hydrogen plants in Morocco, Greece and Croatia, all markets with potential for cost competitive hydrogen production.

Climate Change Ventures is headquartered in the United Kingdom and is focused on advising and financing the next wave of disruptive clean energy solutions. CCV is led by Horácio Carvalho, who has spent more than four decades—and raised over 10 billion euros—developing projects in the cleantech and renewable energy sectors. CCV is currently launching its inaugural fund of 100 million euros, which will enable it to capitalize on its broad network of stakeholder relationships to make direct investments in the companies and technologies poised to take on the challenge of climate change. CCV’s bold approach to attacking this fundamental issue makes it a great fit with Fusion Fuel’s own ambition of creating a commercially competitive solution to decarbonization.

Fusion Fuel has developed a micro-electrolyzer solution which, when coupled with concentrated photovoltaic solar technology, produces emissions-free Green Hydrogen at prices competitive with Brown Hydrogen.

The production and dissemination of Green Hydrogen directly aligns with the decarbonization targets established by the industrial sector, and is gaining increasing visibility in the energy strategy for many European countries. Traditional methods of Hydrogen production emit more than 9 tons of CO2 per ton of Hydrogen, so the replacement of traditional Hydrogen methods with Green Hydrogen is an impactful and sustainable method for eliminating carbon emissions. Green Hydrogen has broad application as an energy source across a variety of industries, from power generation to commercial and heavy-duty transport.

Fusion Fuel’s Head of Business Development, João Wahnon, notes: “Europe has recently announced its Hydrogen Strategy for a Carbon-Neutral Europe, which puts Green Hydrogen at the very center of Europe’s carbon emissions plan. We believe Fusion Fuel is well placed to become a market leader in this space.

CCV CEO Horácio Carvalho commented: “Fusion Fuel brings a new, advanced technology focused on the decarbonization of energy-intensive industrial and transportation industries that Europe has emphasized in its Green Hydrogen strategy. With our deep market experience and broad network in the sustainable energy sector, Climate Change Ventures is excited to partner with Fusion Fuel in taking its industry leading technology to new markets and to help make Europe’s vision a reality.”

No Offer or Solicitation

This communication is for informational purposes only and is neither an offer to sell or purchase, nor the solicitation of an offer to buy or sell any securities, nor is it a solicitation of any vote, consent, or approval in any jurisdiction, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law.

About Climate Change Ventures

Climate Change Ventures is an integrated financial services firm dedicated to the clean energy sector, with activities spanning strategic advisory, investment management and trading. Our mission is to reduce greenhouse gas emissions and create a zero-carbon economy by advising on and investing in green projects. Our team comprises of senior investment bankers, fund managers and engineers with several decades of experience in the clean energy sector.

About Fusion Fuel

Fusion Fuel is a Portuguese company that has developed industry leading Green Hydrogen production technology. Our vision is to become one of the core developers of Green Hydrogen technology in the coming years and to facilitate the transition to Green Hydrogen by providing a cost competitive alternative to Brown Hydrogen. The team has an extensive experience in the renewable energy space and is currently undergoing a merger with HL Acquisitions (NASDAQ: HCCH).