Fusion Fuel and Electus Energy have entered a three way partnership settlement to develop a large-scale inexperienced hydrogen venture in Bakersfield, California.
The proposed venture is a roughly 75-MW solar-to-hydrogen facility utilizing Fusion Gas’s HEVO expertise, able to producing as much as 9,300 tons of inexperienced hydrogen yearly. The venture would require an estimated $180 million in capital funding, with a ultimate funding resolution anticipated in early 2024 and commissioning within the first half of 2025. As soon as operational, this venture will present sufficient hydrogen gasoline to assist over 1,000 Class 8 vans or buses per day.
“This can be a vital second for Fusion Gas and for our ambition to be a worldwide chief in clear hydrogen options. In slightly below two years as a public firm, Fusion Gas has established itself as a key participant within the Iberian inexperienced hydrogen ecosystem. Nonetheless, we knew that getting into a brand new market, significantly one as massive and complicated as North America, would require a cornerstone venture and a reputable companion,” stated Jason Baran, CCO of Fusion Gas. “As a result of distinctive mixture of photo voltaic irradiance, California tax incentives and proximity to large-scale offtake, Bakersfield is the best venture to anchor our North American technique. We’re extraordinarily excited to be unveiling the Bakersfield venture alongside our growth companion, Electus Vitality, which has been actively growing hydrogen mobility options within the Southwestern United States and has cultivated deep relationships with potential off-takers within the logistics and distribution ecosystem.”
The businesses have already entered right into a land-lease settlement to safe 320 acres in Kern County for the venture’s growth. Fusion Gas contracted engineering agency Black & Veatch to carry out an idea research and can be working with Cornerstone Engineering and Headwaters Options.
“We’re enthusiastic about partnering with Fusion Gas to implement their distinctive expertise and experience in one among our first large-scale inexperienced hydrogen manufacturing services in California,” stated Andrew Greene, CEO and co-founder of Electus Vitality. “Essentially the most vital a part of implementing any profitable hydrogen mobility program is the power to supply dependable, clear hydrogen gasoline at a horny value and we consider our partnership with Fusion Gas will assist decrease the price of gasoline for our clients and speed up the adoption of zero-emission hydrogen automobiles for all automotive functions, together with heavy trucking, public transportation and vehicles.”
Information merchandise from Fusion Gas
