Welcome to our dedicated page for Fusion Fuel Green PLC news (Ticker: HTOO), a resource for investors and traders seeking the latest updates and insights on Fusion Fuel Green PLC stock.
Fusion Fuel Green PLC (HTOO) is a pioneering company focused on the production of green hydrogen. Established in 2018 and headquartered in Dublin, Ireland, the company has made significant strides in creating cost-effective and competitively priced green hydrogen solutions. Fusion Fuel operates primarily in Portugal, Southern Europe, and Morocco, offering innovative hydrogen generators and green hydrogen production services to various industries.
The company's core technology, the HEVO-Chain, is designed to optimize the production of green hydrogen. One of its flagship projects, the HEVO-Aveiro project in Portugal, aims to develop a 25 MW green hydrogen facility. This facility is expected to produce approximately 2,100 tonnes of green hydrogen annually, which will be utilized for industrial process heat in the local ceramic industry. The HEVO-Aveiro project has garnered significant attention, earning the highest assessment among all hydrogen projects submitted to the C-14 funding call and securing a substantial grant for its development.
In addition to its technological advancements, Fusion Fuel has established itself as a key player in the green hydrogen sector through strategic partnerships and collaborations. The company provides hydrogen generators to clients operating their green hydrogen plants and offers operational and monitoring services. Fusion Fuel's clientele includes natural gas networks and grids, oil refineries, ammonia producers, regulators, and government departments, demonstrating the broad applicability and market reach of its solutions.
Financially, Fusion Fuel continues to capture investor interest, evidenced by its regular communication and updates through live conference calls and webcasts. For instance, the company hosts events accessible through its website, providing investors with the latest performance metrics, project updates, and strategic insights.
Fusion Fuel's commitment to innovation and sustainability is further highlighted by its receipt of multiple awards and grants, reinforcing its leadership position in the green hydrogen industry. As the demand for clean energy solutions grows, Fusion Fuel Green PLC remains at the forefront, driving the transition to a hydrogen-powered future.
Fusion Fuel Green PLC (HTOO) has announced a significant improvement in its equity position, with pro forma stockholders' equity reaching approximately $12.0 million as of January 10, 2025. This enhancement reflects several recent transactions, including the Quality Industrial Corp. acquisition in November 2024 and a January 10, 2025 concurrent private placement of $1.28 million in senior convertible notes, along with entry into a $25 million equity line of credit.
These strategic moves aim to ensure long-term compliance with Nasdaq Listing Rule 5550(b)(1), which mandates a minimum stockholders' equity of $2.5 million for continued listing on The Nasdaq Capital Market. The company's detailed pro forma balance sheet is available through SEC filings and their investor relations website.
Fusion Fuel Green PLC (HTOO) has secured two financial arrangements: a $1.28 million senior convertible notes private placement and a $25 million equity line of credit. The convertible notes, issued at a 20% original issue discount, will mature in July 2026 with an 8% annual interest rate and include warrants providing 100% equity coverage.
The equity line of credit will allow Fusion Fuel to sell up to $25 million in newly issued Class A ordinary shares at its discretion, subject to certain conditions including SEC registration. CEO John-Paul Backwell stated this capital infusion will strengthen near-term liquidity and support the expansion of their Al Shola Gas business while enabling the launch of their BrightHy solutions platform.
Fusion Fuel Green Plc (NASDAQ: HTOO) has announced an upcoming Investor Update Presentation scheduled for December 12, 2024, at 09:30 a.m. ET. The presentation will cover three main areas: a comprehensive Fusion Fuel overview including recent developments, the QIND transaction, and NASDAQ compliance; an Al Shola Gas Business Update detailing operations and performance; and a Hydrogen Solutions Overview focusing on progress and future objectives.
The presentation materials will be accessible on the company's website Events page, with a recording available for replay after the event.
Fusion Fuel Green (NASDAQ: HTOO) has completed its acquisition of a controlling stake in Quality Industrial Corp. (QIND) through a share exchange. The company announced key leadership changes, with John-Paul Backwell appointed as CEO and joining the Board, while former CEO Frederico Figueira de Chaves transitions to Chief Strategy Officer and Head of Hydrogen Solutions. The acquisition aims to strengthen Fusion Fuel's position in energy engineering and services. The company faces a Nasdaq delisting appeal hearing scheduled for January 7, 2025, but management expects to meet stockholder equity requirements after consolidating financials.
Fusion Fuel Green PLC (NASDAQ: HTOO) has signed a binding agreement to acquire ~70% of Quality Industrial Corp. (QIND), a gas supply and services company. The deal involves issuing 19.99% of Fusion Fuel's ordinary shares plus convertible preferred shares. QIND's operating business, Al Shola Gas, reported $11 million revenue and $1.8 million net income in 2023, with Q4 revenue and net income up 19.5% and 12.4% respectively. The acquisition aims to integrate complementary expertise and recurring revenue, while expanding both companies' market presence. Notably, Fusion Fuel's Portuguese subsidiary has filed for insolvency, marking a strategic shift towards hydrogen engineering and advisory services.
Fusion Fuel Green has issued a damages claim against Hydrogenial S.A. for failing to fund a $33.5 million Subscription Agreement signed on August 28, 2024. The agreement involved Hydrogenial purchasing 43,790,850 Class A shares and warrants for 13,137,254 additional shares. Despite meeting all closing conditions for the September 30, 2024 deadline and receiving a revised closing date of October 25, 2024, Hydrogenial has not provided the promised funds. As a direct result, Fusion Fuel Portugal S.A., the company's Portuguese subsidiary responsible for technology sales and project development, has filed for insolvency. The company is now exploring strategic alternatives to preserve shareholder value.
Fusion Fuel Green PLC received a Staff Determination Notice from Nasdaq due to non-compliance with the minimum $10 million stockholders' equity requirement. The company reported stockholders' equity of $3,022,125 in its 2023 Form 20-F. Despite submitting a compliance plan and requesting transfer to The Nasdaq Capital Market, Fusion Fuel failed to complete necessary transactions by the November 4, 2024 deadline. While facing potential delisting, the company has appealed the determination, which temporarily stays the suspension of its securities pending the Panel's decision.
Fusion Fuel Green Plc has received a notice from Nasdaq indicating non-compliance with the minimum bid price requirement of $1.00 per share. The company's Class A ordinary shares, trading under the symbol HTOO, have been below this threshold for 31 consecutive business days from June 18 to August 1, 2024. Fusion Fuel Green has until January 29, 2025, to regain compliance by maintaining a closing bid price of at least $1.00 for a minimum of 10 consecutive business days. The notice does not immediately affect the company's listing on The Nasdaq Global Market. If compliance is not achieved by the deadline, an additional 180-day period may be granted. The company plans to monitor the situation and consider options to meet the requirement.
Fusion Fuel Green (NASDAQ: HTOO), an emerging leader in the green hydrogen sector, reported its financial results for Q1 2024. Key highlights include IPCEI approval for a 630 MW HEVO-Portugal project and raising approximately €6 million through an at-the-market program. The company was awarded a €1.015 million grant from the European Commission as part of the H2tALENT consortium and received provisional grant approval for a 25 MW HEVO-Aveiro project.
Subsequent events include drawing down the first tranche of a Macquarie convertible note facility worth $1.15 million and completing the installation of a 300 kW HEVO-Chain system for a global cement major. Fusion Fuel also signed a tech sale contract for a 100 kW HEVO-Chain system for a hospital in Iberia. The company has implemented a strategic portfolio approach, forming commercial relationships with potential for multiple follow-on projects.
Fusion Fuel (NASDAQ: HTOO) announced a 100 kW electrolyzer supply contract for a hospital in Iberia, aiming to generate green hydrogen for emissions-free power and capture green oxygen for medical use.
The project includes R&D efforts to develop and test new materials for their HEVO micro-electrolyzer technology, potentially leading to additional revenue from technology and equipment supply.
This initiative marks Fusion Fuel's entry into the healthcare sector and underscores its commitment to innovative clean energy solutions.
FAQ
What is the current stock price of Fusion Fuel Green PLC (HTOO)?
What is the market cap of Fusion Fuel Green PLC (HTOO)?
What does Fusion Fuel Green PLC do?
Where is Fusion Fuel Green PLC based?
What are the main markets for Fusion Fuel Green PLC?
What is the HEVO-Aveiro project?
Who are the primary clients of Fusion Fuel Green PLC?
What technology does Fusion Fuel Green PLC use?
How does Fusion Fuel communicate with investors?
Has Fusion Fuel Green PLC received any awards or grants?
What industries does Fusion Fuel Green PLC serve?
When was Fusion Fuel Green PLC founded?
