Exhibit 21
List of Subsidiaries
| Company | Jurisdiction of Formation | |
| Fusion Fuel Portugal, S.A. | Portugal | |
| Fusion Cell Évora, Unipessoal LDA | Portugal | |
| Fusion Cell Évora I, Unipessoal LDA | Portugal | |
| Fusion Fuel USA, Inc. | United States | |
| Fusion Fuel Spain, S.L. | Spain | |
| Fusion Fuel Australia, PTY Ltd | Australia | |
| Fusion Fuel Australia – Pilot PTY Ltd | Australia | |
| Hevo Sines, Unipessoal LDA (1) | Portugal | |
| Hevo Sines II, Unipessoal LDA (2) | Portugal | |
| Hevo Sines III, Unipessoal LDA (3) | Portugal |
| (1) | Incorporated on January 12, 2022 |
| (2) | Incorporated on March 22, 2022 |
| (3) | Incorporated on April 14, 2022 |