Fusion Fuel (Nasdaq: HTOO) announced that majority-owned joint venture BioSteam Energy has begun commercial operations of its first biomass-powered industrial steam project at a dairy facility in South Africa. The project is expected to generate about $0.7 million in annual revenue and marks Fusion Fuel’s first operations in Southern Africa.
The biomass system replaces fossil-fuel-based steam generation and is expected to reduce carbon emissions and enable carbon credits through landfill avoidance and fuel switching. Fusion Fuel holds a 51% interest in BioSteam Energy and has a right of first refusal on in-scope future projects with partner Alien Fuel.
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Positive
Biomass steam project expected to generate approximately $0.7 million annual revenue
First commercial operations for Fusion Fuel in Southern Africa
Fusion Fuel holds a 51% majority stake in BioSteam Energy joint venture
Right of first refusal on Alien Fuel’s in-scope future projects
Project enables potential carbon credit generation via landfill avoidance and fuel switching
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News Market Reaction – HTOO
+6.59%
6 alerts
+6.59%Session close to close
+17.9%Peak Tracked
-3.8%Trough Tracked
$9.89MMarket Cap
0.1xRel. Volume
In the May 11 session, HTOO gained 6.59%, reflecting a notable positive market reaction.
Argus tracked a peak move of +17.9% during that session.
Argus tracked a trough of -3.8% from its starting point during tracking.
Our momentum scanner triggered 6 alerts that day, indicating moderate trading interest and price volatility.
The stock moved +6.6% in the session following this news. A strong positive reaction would align wit...
Analysis
The stock moved +6.6% in the session following this news. A strong positive reaction would align with Fusion Fuel’s strategy of adding tangible, revenue-generating projects, such as this biomass steam facility expected to produce about $0.7 million annually. Past newsflow shows a mix of reactions, so outsized gains could reflect renewed confidence in execution or in the Southern Africa footprint. However, existing resale registrations and warrant structures mean equity overhang and dilution risk would remain important considerations.
Key Figures
Project annual revenue:$0.7 millionJV ownership:51%Commercial operations date:May 1+5 more
Announced $1.14M in new LPG engineering subcontracts via Al Shola Gas.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Pattern Detected
Recent history shows mixed reactions, including sharp declines on seemingly positive operational and growth updates, alongside more typical gains on royalty and contract news.
Recent Company History
Over the past months, Fusion Fuel reported strong fiscal 2025 revenue growth to €14.4 million, driven by Al Shola Gas consolidation, and highlighted UAE energy service contracts and South African biomass work. It also outlined a shift toward uranium royalty exposure via Royal Uranium and board/CEO changes. Earlier LPG engineering wins in Dubai added modest revenue visibility. Today’s BioSteam biomass project launch in South Africa continues this pattern of smaller, project-based revenue additions within a broader transition and royalty strategy.
Key Terms
biomass-powered, carbon credits, right of first refusal, joint venture
4 terms
biomass-poweredtechnical
"has completed installation and commissioning and commenced commercial operations for its first biomass-powered industrial steam project"
Equipment, facilities, or processes described as biomass-powered run on energy produced by burning or converting organic material such as wood, agricultural waste, or specially grown plants. For investors this signals potential exposure to renewable-energy markets, different fuel cost dynamics, regulatory incentives or carbon rules, and supply-chain risks—think of it like a factory that uses wood chips instead of natural gas, affecting operating costs and environmental credentials.
carbon creditsregulatory
"expected to reduce the facility’s carbon footprint while enabling the generation of carbon credits through landfill avoidance"
Carbon credits are tradable permits that represent the right to emit a specific amount of greenhouse gases, or the removal of that amount from the atmosphere; think of them like coupons companies buy or sell to balance their pollution. They matter to investors because they create costs or potential revenue streams, affect a company's regulatory compliance and reputation, and form a marketable asset whose price can influence profitability and valuation.
right of first refusalfinancial
"has a right of first refusal on future projects developed by or offered to Alien Fuel"
A right of first refusal gives an existing shareholder or party the chance to buy an asset or shares before the owner can sell them to someone else. Think of it like being offered the first option to buy a house when the owner decides to sell; it matters to investors because it can limit who can acquire a stake, slow or block transactions, and affect the price and liquidity of an investment by restricting open-market sales or new buyers.
joint venturefinancial
"the Company’s majority-owned joint venture has completed installation and commissioning"
A joint venture is when two or more companies team up to work on a specific project or business idea, sharing both the risks and the rewards. It’s like friends starting a lemonade stand together—each contributes resources and they split the profits, making it easier to succeed than going alone.
Majority-owned joint venture begins biomass-powered steam operations at dairy facility in South Africa, with right of first refusal on future projects
Dublin, May 11, 2026 (GLOBE NEWSWIRE) -- Fusion Fuel Green PLC (Nasdaq: HTOO) (“Fusion Fuel” or the “Company”), a leading provider of full-service energy engineering, advisory, and utility solutions, today announced that Biosteam Energy (Proprietary) Limited (“BioSteam Energy”), the Company’s majority-owned joint venture has completed installation and commissioning and commenced commercial operations for its first biomass-powered industrial steam project at a well-established dairy facility in South Africa. This project is expected to generate approximately $0.7 million in annual revenue with further potential projects in the pipeline.
Developed in partnership with Alien Fuel (Proprietary) Limited (“Alien Fuel”), the project establishes Fusion Fuel’s first operations in Southern Africa. The system replaces a fossil-fuel-based steam generation process with a biomass alternative, and is expected to reduce the facility’s carbon footprint while enabling the generation of carbon credits through landfill avoidance and fuel-switching benefits.
Under the terms of the joint venture, Fusion Fuel holds a 51% interest in BioSteam Energy and has a right of first refusal on future projects developed by or offered to Alien Fuel or its related entities within the scope of the joint venture’s business.
“This project represents an important step in executing our strategy to deploy scalable, revenue-generating and carbon-reducing energy solutions for transitioning industries,” said Frederico Figueira de Chaves, CEO of Fusion Fuel. “Importantly, BioSteam Energy began producing steam on May 1st, marking the commencement of initial operations at the project. With a right of first refusal on Alien Fuel’s in-scope future projects, BioSteam Energy provides a foundation for potential growth as demand for industrial decarbonization continues to develop.”
About Fusion Fuel Green PLC
Fusion Fuel Green PLC (Nasdaq: HTOO) provides integrated energy engineering, distribution, and green hydrogen solutions through its Al Shola Gas, BrightHy Solutions, and BioSteam Energy platforms. With operations spanning LPG supply to hydrogen and bio-steam solutions, the Company supports decarbonization across industrial, residential, and commercial sectors. For more information, please visit www.fusion-fuel.eu.
Forward-Looking Statements
This press release and the statements contained herein include “forward-looking statements” within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended, which statements involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or the Company’s future financial or operating performance. In some cases, you can identify these statements because they contain words such as “may,” “will,” “believes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “should,” “seeks,” “future,” “continue,” “plan,” “target,” “predict,” “potential,” or the negative of such terms, or other comparable terminology that concern the Company’s expectations, strategy, plans, or intentions. Forward-looking statements relating to expectations about future results or events are based upon information available to the Company as of today’s date and are not guarantees of the future performance of the Company, and actual results may vary materially from the results and expectations discussed. Such forward-looking statements include, but are not limited to, statements regarding BioSteam Energy, including expected annual revenue generation of approximately $0.7 million from its initial project, potential carbon credit generation, future project development, and the exercise of rights of first refusal on future projects. The Company’s expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected, including, without limitation, risks related to the operation and performance of BioSteam Energy, including the ability to achieve expected revenue levels from carbon credit generation or other related revenue; the risk that actual revenue from BioSteam Energy’s initial project may be less than the approximately $0.7 million per annum currently expected due to operational disruptions, reduced customer demand, pricing changes, failure to generate carbon credits, or other factors; the availability, cost, and reliability of biomass feedstock supply; risks associated with operating in South Africa, including political, regulatory, economic, and currency exchange risks; changes in environmental laws, carbon credit certification standards, or government incentive programs that could affect the viability or value of carbon credits; the ability of BioSteam Energy to secure and develop additional projects, including through the exercise of rights of first refusal; dependence on the joint venture relationship, including risks related to disagreements between joint venture partners or changes in strategic priorities; technology and operational risks associated with biomass-powered steam generation systems, including unplanned downtime or underperformance; the Company’s ability to manage and integrate its international operations; competition from existing or new offerings that may emerge; impacts from strategic changes to the Company’s business on net sales, revenues, income from continuing operations, or other results of operations; the Company’s ability to obtain sufficient funding to maintain operations and develop additional services and offerings; and the risks and uncertainties described under Item 3. “Key Information – D. Risk Factors” and elsewhere in the Company’s Annual Report on Form 20-F filed with the SEC on May 9, 2025, and other filings with the SEC. Should any of these risks or uncertainties materialize or should the underlying assumptions about the Company’s business and the commercial markets in which the Company operates prove incorrect, actual results may vary materially from those described as anticipated, estimated or expected. All subsequent written and oral forward-looking statements concerning the Company or other matters and attributable to the Company or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above. The Company does not undertake any obligation to publicly update any of these forward-looking statements to reflect events or circumstances that may arise after the date hereof, except as required by law.
What did Fusion Fuel (NASDAQ: HTOO) announce about BioSteam Energy on May 11, 2026?
Fusion Fuel announced that majority-owned joint venture BioSteam Energy has started commercial operations of its first biomass-powered industrial steam project at a dairy facility in South Africa. According to Fusion Fuel, the project should generate about $0.7 million in annual revenue and reduce fossil-fuel-based steam use.
How much annual revenue is expected from BioSteam Energy’s first biomass steam project for Fusion Fuel (HTOO)?
The project is expected to generate approximately $0.7 million in annual revenue. According to Fusion Fuel, this biomass-powered industrial steam system at a South African dairy facility provides a recurring revenue stream and supports the company’s strategy to deploy scalable, revenue-generating decarbonization solutions.
What strategic benefits does the BioSteam Energy joint venture provide to Fusion Fuel (NASDAQ: HTOO)?
BioSteam Energy gives Fusion Fuel a 51% majority stake in a biomass-steam joint venture with operations in Southern Africa. According to Fusion Fuel, the venture includes a right of first refusal on in-scope future projects developed by or offered to partner Alien Fuel and its related entities.
How does the new BioSteam Energy project support decarbonization for the South African dairy facility?
The project replaces a fossil-fuel-based steam generation process with a biomass alternative at the dairy facility. According to Fusion Fuel, this switch is expected to reduce the site’s carbon footprint and enable generation of carbon credits through landfill avoidance and fuel-switching benefits.
When did BioSteam Energy begin producing steam at its first project with Fusion Fuel (HTOO)?
BioSteam Energy began producing steam on May 1, marking the start of initial operations at the project. According to Fusion Fuel, this date signifies the transition from installation and commissioning to commercial operation for the biomass-powered industrial steam system in South Africa.
Why is the BioSteam Energy project important for Fusion Fuel’s presence in Southern Africa?
The project marks Fusion Fuel’s first operations in Southern Africa through its BioSteam Energy joint venture. According to Fusion Fuel, it establishes a regional foothold and, combined with a right of first refusal on Alien Fuel’s in-scope projects, could support future growth in industrial decarbonization.
