Fusion Fuel Completes €9 million Sale and Leaseback of Benavente Factory to CORUM Eurion

December 24, 2022

https://www.globenewswire.com/news-release/2022/12/23/2579232/0/en/Fusion-Fuel-Completes-9-million-Sale-and-Leaseback-of-Benavente-Factory-to-CORUM-Eurion.html

SABUGO, Portugal, Dec. 23, 2022 (GLOBE NEWSWIRE) — Fusion Fuel (NASDAQ:HTOO) (“Fusion Fuel” or the “Company”) announced today that the Company has completed a sale and leaseback of its electrolyzer manufacturing factory in Benavente, Portugal to CORUM Eurion, an ESG certified real estate investment fund managed by CORUM Asset Management. The €9.3 million transaction generated net proceeds of nearly €7.5 million after certain holdbacks and deposits for the lease-back contract. The proceeds are expected to be used by the Company to continue the buildout of the Benavente factory, fund the development of Fusion Fuel owned projects and HEVO-Chain technology, as well as for general corporate purposes. Savills Portugal advised the Company on the transaction.

Read more at globenewswire.com

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