Corum Eurion has bought Fusion Fuel’s industrial building for 10 million euros.
French fund Corum Eurion has bought, for around €10 million, the industrial facilities of Fusion Fuel in Benavente, as advanced in early January this year. Savills Portugal’s Investment department assisted the owner client, Fusion Fuel, in the sale to the investor client, Corum.
“Savills is extremely proud to have successfully managed this sale and leaseback transaction, after having helped Fusion Fuel secure the asset in 2021. This successful transaction is a further demonstration of our full service offering, which enabled our client to achieve its objectives by occupying an asset fully designed for its needs secured under a long-term lease,” highlights Alberto Henriques, Savills Portugal’s Investment Director.
The building, constructed in 2004 and refurbished between 2021 and 2022, is part of the Vale Tripeiro Industrial Park, in Benavente. The remodeling works transformed this industrial space into a green building, with renewable energy production in self-consumption, as well as charging stations for electric vehicles, which “made possible its integration in the Corum Eurion fund, a fund certified as Socially Responsible Investing”. The Portuguese company Fusion Fuel occupies the entire facility.
Frederico Figueira de Chaves, Co-Head and CFO of Fusion Fuel, states that “we are lucky to have found the ideal partner for this transaction in CORUM. With extensive experience in the Portuguese market and alignment with our core principles and the ambition of ESG goals. CORUM has strong synergies with our company, considering the quality of the asset, and our business objectives. We are confident that this transaction will further strengthen our balance sheet and provide Fusion Fuel with greater flexibility to fund our growth initiatives in Europe and North America.”
Miguel Valente Bento, CORUM Asset Management’s head of investments in Southern Europe, says “we are pleased to have entered into this partnership with Fusion Fuel, an emerging leader in the green hydrogen sector with a relevant role in the energy transition process globally. This asset meets the most advanced ESG criteria, is underpinned by a long-term contract with a financially sound growing company and is situated in a consolidating location for the logistics and industrial sectors. This investment marks CORUM’s fourth acquisition in Portugal in the last two years, which reinforces our dedication and track record in the domestic market.
