Fusion Fuel's BrightHy Solutions Forges €30 Million Strategic Partnership for Hydrogen Infrastructure Investments
Key Ideas
- BrightHy Solutions, a Fusion Fuel subsidiary, signs a non-binding Term Sheet for a strategic partnership with a €30 million commitment for hydrogen projects and infrastructure investments.
- The Partner would invest up to €30 million over four years in mid-scale hydrogen infrastructure projects, each ranging from €2 million to €10 million, managed by BrightHy Solutions.
- The investment entity will be majority-owned by the Partner and managed by BrightHy Solutions under a 10-year agreement, aiming to deliver minimum unlevered returns.
- The partnership aims to scale clean hydrogen solutions, leveraging BrightHy Solutions' expertise in the industry to deliver attractive and sustainable hydrogen projects.
Fusion Fuel Green PLC announced a significant strategic development through its subsidiary Bright Hydrogen Solutions Ltd (BrightHy Solutions) in partnership with an integrated green energy technologies provider, with a non-binding Term Sheet outlining a €30 million commitment for hydrogen projects and infrastructure investments. This partnership focuses on mid-scale hydrogen infrastructure projects, with investments ranging from €2 million to €10 million per project, to be managed by BrightHy Solutions under a 10-year agreement. The Partner would invest capital over four years through special purpose vehicles held by a newly created investment entity, majority-owned by the Partner, aiming to achieve minimum unlevered returns. The definitive agreements under consideration will involve customary representations, warranties, and covenants, with termination rights and potential termination fees outlined. Frederico Figueira de Chaves, CEO of BrightHy Solutions, expressed optimism about scaling clean hydrogen solutions and creating long-term value. BrightHy Solutions, with its focus on safety, reliability, and efficiency, aims to lead in the hydrogen through electrolysis solutions market, supporting clients throughout the hydrogen production value chain. This strategic partnership signifies a step forward in delivering sustainable hydrogen projects and leveraging BrightHy Solutions' industry experience to drive innovation and growth in the hydrogen sector.