80 Mile PLC Partners with Hydrogen Valley Ltd for Green Hydrogen Plant Expansion in Italy
Key Ideas
- 80 Mile PLC, with a 24% stake in Hydrogen Valley Ltd, partners with Mendelsohn Development Agency to progress financing for the Greenswitch plant in Basilicata, Italy.
- The Basilicata region, awarded €10 million by the Italian government for green hydrogen development, is the location for the Greenswitch plant, set to restart production in the third quarter of 2025.
- Mendelsohn, based in Bari, Italy, brings expertise in regulatory aspects and grant applications, enhancing the plant's evolution towards hydrogen and sustainable aviation fuel production.
- 80 Mile's Managing Director expresses confidence in the project's progress and financing options, with expectations of success in 2025 and potential expansion in Hydrogen Valley Ltd.
80 Mile PLC, a company focused on Greenland and Finland with critical metal and industrial gas projects, has announced a partnership with Hydrogen Valley Ltd, in which they hold a 24% stake. The collaboration aims to advance financing initiatives for the Greenswitch plant in Basilicata, Italy. This plant, located about 130 kilometers from Bari, has recently received €10 million from the Italian government for green hydrogen development. With the support of Mendelsohn Development Agency, renowned for its expertise in securing government grants, the plant is poised for a restart in the coming weeks. The Managing Director of 80 Mile PLC, Eric Sondergaard, expressed optimism about the project's evolution, citing available financing options and the expertise brought by Mendelsohn in grant applications. Additionally, the company anticipates a full production ramp-up by the third quarter of 2025. The article mentions the company's acquisition progress in Hydrogen Valley Ltd, with shares slightly lower in London. Shareholders can expect regular updates on the project's development, including the incorporation of green hydrogen and sustainable aviation fuel production. Overall, 80 Mile PLC is optimistic about the potential success and growth opportunities presented by their involvement in the hydrogen sector.