Fusion Fuel’s joint venture launches its first biomass steam project in South Africa, targeting $0.7 million in annual revenue.
Fusion Fuel Green PLC (NASDAQ:HTOO) announced the commercial launch of its first biomass-powered industrial steam project in South Africa, developed by its majority-owned joint venture, BioSteam Energy. The project, located at a dairy facility, is expected to generate approximately $0.7 million in annual revenue and marks the company’s entry into Southern Africa’s renewable energy market.
The system replaces fossil-fuel-based steam generation with a biomass alternative, aiming to reduce carbon emissions and create opportunities for carbon credit generation. Fusion Fuel holds a 51% stake in BioSteam Energy and retains rights of first refusal on future projects under the joint venture.
Separately, Fusion Fuel is advancing its acquisition of a controlling interest in Royal Uranium, which holds a 1.0% net smelter return royalty on the Huemul Project in Argentina, potentially exposing the company to uranium, copper, and vanadium production.