80 Mile Secures Financing for Hydrogen Valley Subsidiary's Biofuel and SAF Development
Why we think this is good
The RNS provides a positive update on 80 Mile's progress in securing financing for its Hydrogen Valley subsidiary's biofuel and sustainable aviation fuel development plans. The company has secured a significant stake in Hydrogen Valley and its subsidiary Greenswitch has signed an exclusive consultancy agreement to access various government grant and incentive programs in Italy. This suggests the company is well-positioned to receive substantial financial support for its biofuel and SAF initiatives, which could enhance the project's viability and long-term prospects.
Key Points
- 80 Mile has the option to acquire up to 100% of Hydrogen Valley, and has already secured a 24% stake
- Hydrogen Valley's subsidiary Greenswitch has signed an exclusive consultancy agreement with Mendelsohn Development Agency to progress financing initiatives
- Greenswitch is well positioned to receive funding from various government grant and incentive programs in Italy, including the Contract for Development, EU/Italy Social Cohesion Programme, Basilicata Region Enterprise Assistance Fund, and Green Hydrogen Grant Programmes
Summary
80 Mile PLC has provided an update on the financing initiatives for its Hydrogen Valley subsidiary. The company has the option to acquire up to 100% of Hydrogen Valley and has already secured a 24% stake. Hydrogen Valley's subsidiary Greenswitch has signed an exclusive consultancy agreement with Mendelsohn Development Agency to progress financing for its biofuel and sustainable aviation fuel (SAF) development plan. Greenswitch is well positioned to receive funding from various government grant and incentive programs in Italy, which could provide significant financial support for its projects.