Fusion Fuel Provides Update on Gas Business, Announces Key Developments in Middle East Operations
Rhea-AI Summary
Fusion Fuel Green PLC (NASDAQ: HTOO) has reported significant developments in its Al Shola Gas subsidiary between November 2024 and January 2025. The company secured new orders and renewals worth approximately $3.5 million, including an exclusive LPG supply contract renewal in the residential sector and multiple supply and installation projects across manufacturing, hospitality, and construction segments.
CEO JP Backwell highlighted that the gas business continues to generate meaningful cash flows in Middle East markets, serving as a profitable foundation for Fusion Fuel. The company plans to expand its bulk LPG supply capabilities through infrastructure investment and aims to broaden its geographical reach and service offerings to meet growing customer demand.
Positive
- Secured $3.5 million in new orders and contract renewals
- Renewed exclusive LPG supply contract in residential sector
- Gas business generating meaningful cash flows in Middle East markets
Negative
- None.
News Market Reaction
On the day this news was published, HTOO declined 4.81%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
DUBLIN, Jan. 24, 2025 (GLOBE NEWSWIRE) -- via IBN – Fusion Fuel Green PLC (Nasdaq: HTOO) (“Fusion Fuel” or the “Company”), a leading provider of full-service energy engineering and advisory solutions, is pleased to announce several significant developments in its Al Shola Gas (“Al Shola”) subsidiary, which continues to serve as a core driver of growth and profitability for the Company.
Between November 2024 and January 2025, Al Shola secured new orders and renewals valued at approximately USD
Commenting on the commercial progress, JP Backwell, CEO of Fusion Fuel, said: "Our gas business continues to generate meaningful cash flows in its core markets in the Middle East, representing a strong and profitable foundation for Fusion Fuel. The recent orders and renewals underscore the trust our customers place in us and our ability to deliver both fuel and value-added solutions safely and reliably. Looking ahead, we see tremendous potential for growth with additional investment in our infrastructure, particularly to expand our bulk LPG supply capabilities. We are excited about the opportunity to broaden our geographical reach, expand our service offerings, and increase our capacity, which we believe will unlock new revenue streams and enable us to meet the growing demand from our customers, both in the Middle East and beyond. With our Al Shola Gas and BrightHy operating businesses, Fusion Fuel is well-positioned to drive sustainable growth and create long-term value for our shareholders by delivering innovative energy solutions across the full energy value chain."
About Fusion Fuel Green plc
Fusion Fuel Green PLC (NASDAQ: HTOO) is an emerging leader in the energy services sector, offering a comprehensive suite of energy engineering and advisory solutions through its Al Shola Gas and BrightHy subsidiaries. Al Shola Gas provides full-service industrial gas solutions, including the design, supply, and maintenance of liquefied petroleum gas (LPG) systems, as well as the transport and distribution of LPG to a broad range of customers across commercial, industrial, and residential sectors. BrightHy, the Company’s newly launched hydrogen solutions platform, focuses on delivering innovative engineering and advisory services that enable decarbonization across hard-to-abate industries.
Learn more about Fusion Fuel by visiting our website at https://www.fusion-fuel.eu and following us on LinkedIn.
Forward-Looking Statements
This press release includes “forward-looking statements.” Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target”, “may”, “intend”, “predict”, “should”, “would”, “predict”, “potential”, “seem”, “future”, “outlook” or other similar expressions (or negative versions of such words or expressions) that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Fusion Fuel has based these forward-looking statements largely on its current expectations, including but not limited the ability of the investment reported on to be consummated as anticipated. Such forward-looking statements are subject to risks and uncertainties (including those set forth in Fusion Fuel’s Annual Report on Form 20-F for the year ended December 31, 2023, filed with the Securities and Exchange Commission) which could cause actual results to differ from the forward-looking statements.
Investor Relations Contact
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FAQ
How much in new orders did Fusion Fuel (HTOO) secure between November 2024 and January 2025?
What types of contracts did Fusion Fuel (HTOO) secure in early 2025?
What are Fusion Fuel's (HTOO) expansion plans for its Al Shola Gas subsidiary?
Which markets are currently generating cash flow for Fusion Fuel's (HTOO) gas business?
