NEW YORK, Sept. 14, 2023 (GLOBE NEWSWIRE) — Elemental Clean Fuels (“ECF”), an energy development company focused on the emerging clean fuel economy in North America, today announced that it has recently closed on its first round of external financing from investors Piney Point Capital, a Racon Capital investment vehicle, and Fusion Fuel Green plc (NASDAQ: HTOO) (“Fusion Fuel”), a green hydrogen solutions company. Capital investment provided by Piney Point will be utilized by ECF to further develop its existing decarbonization portfolio in North America, as well as to expand its internal capabilities and add additional project assets (including the projects contributed by Fusion Fuel).  
Piney Point Capital is an innovative investment firm focused on providing transformational growth capital to companies and projects across North America and Europe. Piney’s value-add approach targets growth investments across the Energy Transition, Agriculture and Transportation sectors, where we believe strong tailwinds are driving demand for new infrastructure, technology and projects for decades to come. Piney Point portfolio companies have become leaders in the hydrogen, carbon capture, chemical recycling and battery storage markets alongside key strategic partners.Elemental Clean Fuels (“ECF”) is a technology agnostic energy development company with a vision to be on the cutting edge of the emerging clean fuel economy in North America by offering solutions that add value to customers, strategic partnerships and projects. ECF seeks to harness our team’s more than 65 years of collective experience developing, financing, managing and operating energy and infrastructure projects to ensure a meaningful positive impact for all our stakeholders. For more information, visit www.elementalcf.com.Fusion Fuel is an emerging leader in the green hydrogen sector committed to accelerating the energy transition through the development of disruptive, clean hydrogen solutions. Fusion Fuel’s patented miniaturized Proton Exchange Membrane (PEM) electrolyzer, the HEVO, and building-block approach to green hydrogen production, unlock unprecedented modularity and flexibility in the design and deployment of cost-competitive, decentralized green hydrogen solutions. Its business lines include the sale of its electrolyzer technology to customers interested in building their own green hydrogen production, the development of turnkey hydrogen plants to be owned and operated by Fusion Fuel, and the sale of green hydrogen as a commodity to end-users through long-term hydrogen purchase agreements. For more information, please visit https://[email protected]
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(GlobeNewsWire)