Corum Eurion buys Fusion Fuel's industrial building for €10M

Corum Eurion buys Fusion Fuel's industrial building for €10M
Industrial facilities of Fusion Fuel in Benavente

French fund Corum Eurion bought, for about 10 million euros, the industrial facilities of Fusion Fuel in Benavente. The building constructed in 2004 and refurbished between 2021 and 2022, integrates the Industrial Park of Vale Tripeiro, in Benavente. Fusion Fuel occupies the entire infrastructure.

"The Corum Eurion fund, managed by French company Corum Asset Management, acquired the industrial facilities in Benavente from Fusion Fuel, a subsidiary of Fuel Green PLC, a company listed on Nasdaq, for about 10 million euros, in a sale and leaseback operation," reads a statement sent to Lusa, cited by Negócios.

Corum Eurion, part of French management company Corum Asset Management, said in a statement that the refurbishment works carried out transformed the industrial unit "into a green building, with renewable energy production on a self-consumption basis" with "electric vehicle charging stations, among other features that contribute to compliance with ESG criteria and made it possible to integrate it into the Corum Eurion fund, an ESG certified fund," quoted the newspaper.

In Portugal, the Corum Eurion fund, launched in 2020, is only available to institutional clients. The purchase of Fusion Fuel's industrial facilities in Benavente is the third property acquired by the French fund in Portugal since the end of 2021.

José Gavino, Director of Corum Investments in Portugal, points out that "with a portfolio of 14 buildings in Portugal, Corum entered the country in 2014 and has already invested more than €100 million in the country. In 2019, it opened a branch in Lisbon" The head of Corum also added that "we believe that this asset and this tenant fit perfectly with the way we manage our clients' savings: long-term oriented and looking for financially sound companies".

It is worth recalling that in May last year, Corum Eurion acquired the Heroísmo 283 building, of 6,072 square metres, which will be refurbished in 2021, in the business centre of Rua do Heroísmo, in Porto.

Iberian Property logoIberinmo logo
Iberian Property is the best platform for investment in Spain & Portugal. Created for those who seek reliable information about players and deals happening in Iberia. Through updated database, reports, market indicators and daily news, we report “Who’s Who” in Iberian Real Estate!. Iberian Property is also proud to organize the most important international real estate investors’ meeting in Iberia - Portugal Real Estate Summit!