In Bakersfield, California, an exclusive agreement between Fusion Fuel and Electus Energy for a renewable hydrogen project is developing.
A success in the making
In Bakersfield, the project includes a 75MW solar-hydrogen facility. It will be the centerpiece of the business strategy developed by the two companies to accelerate the energy transition. In addition, Fusion Fuel’s Hevo technology will enable Baskerfield to produce up to 9,300 tons of renewable hydrogen per year.
Thus, the project will supply more than 1000 trucks or 8 school buses daily. In fact, the companies say they have reached an agreement to lease 320 acres in Kern County, Calif. In addition, Black & Veatch will conduct a conceptual study in collaboration with Cornerstone Engineering and Headwaters Solutions in Bakersfield.
Approximately €175 million is needed to finance Baskerfield. The final investment decision will be made in early 2024 and commissioning will take place in the first half of 2025. Andrew Greene, CEO and co-founder of Electus Energy, says:
“The most important part of implementing a hydrogen mobility program is the ability to source reliable, clean hydrogen fuel at an attractive price. We believe our partnership with Fusion Fuel will help reduce the cost of fuel for our customers and accelerate the adoption of zero-emission hydrogen vehicles for all automotive applications, including heavy-duty trucking, public transportation and automobiles.”
The North American market
Fusion Fuel was proving itself in the Iberian Peninsula, establishing itself as a reference in renewable hydrogen. But now it is trying to become a strong competitor in the North American market. For its first large-scale installation in California, the company is working on a project with multiple assets.
It is strengthened by its partnership with Electus Energy, which knows the region well. Baskerfield will enjoy unique solar irradiation, California tax incentives and proximity to supply. While the company has always considered the U.S. a focus of its strategy, the passage of the Inflation Reduction Act earlier this year facilitates its entry into the market.
Production and investment tax credits help make the U.S. market even more attractive. In order to finalize Bakersfield as soon as possible, companies will accelerate recruitment efforts in the region. In addition, they will evaluate the opportunities created by an investment in a national production site.
