Why Fusion Fuel Shares Are Skyrocketing Friday?
Portfolio Pulse from Nabaparna Bhattacharya
Fusion Fuel Green PLC (NASDAQ:HTOO) shares surged in premarket trading after the company announced its HEVO-Portugal project was selected for approval under the European Commission's IPCEI Hy2Infra program. The project, valued at €650 million, aims to produce 62,000 tonnes of green hydrogen annually in Sines, Portugal. This approval allows Fusion Fuel to begin funding discussions with government entities and the European Investment Bank.

February 16, 2024 | 1:32 pm
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Fusion Fuel Green PLC's HEVO-Portugal project received approval under the European Commission's IPCEI Hy2Infra program, leading to a significant premarket stock price surge.
The approval of Fusion Fuel's HEVO-Portugal project by the European Commission under the IPCEI Hy2Infra program is a significant milestone, indicating strong support from the European Union for the project. This approval not only validates the company's technology and project viability but also opens doors for funding discussions with government entities and the European Investment Bank. The news directly impacts investor perception and confidence in Fusion Fuel, leading to a substantial increase in its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100