Fusion Fuel and Electus Energy have entered a joint venture agreement to develop a large-scale green hydrogen project in Bakersfield, California.
The proposed project is a roughly 75-MW solar-to-hydrogen facility using Fusion Fuel’s HEVO technology, capable of producing up to 9,300 tons of green hydrogen annually. The project would require an estimated $180 million in capital investment, with a final investment decision expected in early 2024 and commissioning in the first half of 2025. Once operational, this project will provide enough hydrogen fuel to support over 1,000 Class 8 trucks or buses per day.
“This is a critical moment for Fusion Fuel and for our ambition to be a global leader in clean hydrogen solutions. In just under two years as a public company, Fusion Fuel has established itself as a key player in the Iberian green hydrogen ecosystem. However, we knew that entering a new market, particularly one as large and complex as North America, would require a cornerstone project and a credible partner,” said Jason Baran, CCO of Fusion Fuel. “Due to the unique combination of solar irradiance, California tax incentives and proximity to large-scale offtake, Bakersfield is the ideal project to anchor our North American strategy. We are extremely excited to be unveiling the Bakersfield project alongside our development partner, Electus Energy, which has been actively developing hydrogen mobility solutions in the Southwestern United States and has cultivated deep relationships with prospective off-takers in the logistics and distribution ecosystem.”
The companies have already entered into a land-lease agreement to secure 320 acres in Kern County for the project’s development. Fusion Fuel contracted engineering firm Black & Veatch to perform a concept study and is also working with Cornerstone Engineering and Headwaters Solutions.
“We are excited about partnering with Fusion Fuel to implement their unique technology and expertise in one of our first large-scale green hydrogen production facilities in California,” said Andrew Greene, CEO and co-founder of Electus Energy. “The most critical part of implementing any successful hydrogen mobility program is the ability to source reliable, clean hydrogen fuel at an attractive price and we believe our partnership with Fusion Fuel will help lower the cost of fuel for our customers and accelerate the adoption of zero-emission hydrogen vehicles for all automotive applications, including heavy trucking, public transportation and automobiles.”
News item from Fusion Fuel
