Million Euros

will be invested in HTOO’s projects, 2021-2025



HTOO plans to produce 20,000+ tons of green hydrogen annually by 2025



Over 2 tons of green hydrogen can be produced per year by HTOO’s HEVO-SOLAR product

View Our Analysis

The Path to Drawdown: Fuel Cells

Internal combustion engine vehicles have dominated the transport and automotive landscape since the 1920s. But today, that landscape’s changing. Thanks to supportive policies and declining costs, there are millions of electric vehicles (EVs) on the road.

What once used to be an obstacle for EVs - the question of how far the car can travel on a single charge - is now much less of a concern. The average range of a battery electric vehicle produced in 2020 is about 217.5 miles, up from 124 miles in 2015.

While electric passenger cars and vans can be powered using lithium-ion batteries, there are other segments in the transportation sector that are more energy-intensive and harder to decarbonize: long-haul transport, shipping, and aviation. For these segments, hydrogen fuel cells will play an important role.

Hydrogen is an energy carrier that can be produced by using electricity to split water into hydrogen and oxygen atoms. Green hydrogen is the process of obtaining hydrogen by using renewable power, which directly displaces “brown” hydrogen, which is produced from processes powered by fossil fuels. If the world is to keep temperature increases below 1.5°C, green hydrogen needs to account for 12% of final energy use by 2050 (p. 24). And for this to happen, global electrolyser capacity - that’s the system that breaks down water molecules into hydrogen - needs to expand rapidly:

  • <::marker> 0.3 GW of electrolyser capacity exists today
  • <::marker> 5,000 GW of capacity will be needed by 2050

That’s a CAGR of 39.8% between 2021 and 2050

What We Want to See Improve

Begin Manufacturing

Fusion Fuel is still pre-revenue, spending most of their efforts on research and development. We’re eager to see them start manufacturing their proprietary generator and achieve profitability.

Disclose Sustainability Metrics

We’re optimistic about Fusion Fuel’s green hydrogen. But we also need to see the carbon footprint from the company’s operations, research and development. Their GHG emissions and energy consumed by source should be tracked and reported in a sustainability report to enhance transparency for climate-conscious investors.

Set Emissions Reduction Targets

Once sustainability metrics are disclosed, we’d like to see Fusion Fuel commit to reducing direct and indirect emissions. We urge them to commit to radical cuts, ultimately achieving zero emissions by 2050.

Related Hydrogen Stocks in the Climate Index

View All Climate Index Stocks →

Allocated Company Description


Plug Power (PLUG)

Plug Power makes hydrogen fuel cells and fueling stations for heavy-duty vehicles and trucks - an important solution for decarbonizing transport


Ballard Power Systems (BLDP)

Ballard Power makes hydrogen fuel cells for hard-to-electrify transportation like buses and ships. It’s a crucial solution for decarbonizing transport


Advent Technologies Holdings, Inc. (ADN)

ADN makes components that improve the performance of hydrogen fuel cells. Fuel cells are key to decarbonizing aviation, heavy-duty automotive, and shipping


Fusion Fuel Green PLC (HTOO)

Fusion Fuel Green offers hydrogen to customers that operate green hydrogen plants. Hydrogen is a key energy source for hard-to-electrify transportation

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