(Alliance News) - RES Spa announced Friday that it has been awarded a EUR1.2 million grant from the Ministry of Infrastructure and Transport.

The funding covers 50 percent of the project to build a renewable hydrogen refueling plant for road transport, to be located in the municipality of Pettoranello. Implementation of the project and subsequent commissioning of the plant is scheduled for 2025.

Beginning in 2025, the plant will be able to produce about 150 tons of hydrogen per year exclusively through the use of energy from renewable sources, and that will be used in part to fuel Smaltimenti Sud Srl's fleet of cars and trucks, which would switch from the current diesel fuel to a hydrogen fuel supply; in part it would be sold to local trucking companies.

Antonio Lucio Valerio, chief executive officer of RES, said, "This project aims to consolidate the company's position as a leader in innovation in the field of integrated waste recovery and valorization system and energy production, through the production of a green fuel consistent with the goals of the energy transition."

RES stock is unchanged at EUR4.70 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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