Hydrogen Valley Financing Advancements and Plant Restart Update
Key Ideas
  • 80 Mile plc progresses in acquiring a 100% interest in Hydrogen Valley, reaching a 24% stake and is confident in the plant's restart in Q3 2025.
  • An exclusive consultancy agreement between Greenswitch and Mendelsohn aims to secure financing initiatives, including grants for biofuel development.
  • Mendelsohn, with expertise in securing grants in Italy, is expected to leverage various funding programs for Greenswitch's biofuels and green hydrogen projects.
  • Multiple funding opportunities are available, such as the EU/Italy Social Cohesion Programme and the Green Hydrogen Grant Programme, positioning Greenswitch well for financial support.
80 Mile plc has signed an exclusive consultancy agreement between Greenswitch and Mendelsohn to progress financing for Hydrogen Valley's subsidiary. The company, with projects in Greenland and Finland, has the option to acquire up to 100% interest in Hydrogen Valley. As the plant prepares for a restart in Q3 2025, Greenswitch is focusing on biofuel and green hydrogen production in Italy. Mendelsohn's role involves applying for financial incentives from various government agencies to support Greenswitch's initiatives. The funding programs available include the EU/Italy Social Cohesion Programme and the Green Hydrogen Grant Programme, among others. These opportunities are anticipated to provide substantial financial support for Greenswitch's projects. Eric Sondergaard, the Managing Director of 80 Mile, expressed optimism about the plant's progress and the extensive financing options available. The company expects updates on feedstock supply, offtake agreements, and project developments in the upcoming months, marking a positive outlook for 2025.
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